Digital Marketing Communication for Commonwealth Bank of Australia

This report evaluates the competitive assessment that is practiced for assessing the competitive position of Commonwealth Australian bank. It also demonstrates the objective of digital marketing and illustrates the positioning, branding and targeting strategies.

Running head: DIGITAL MARKETING COMMUNICATION
Digital marketing communication

DIGITAL MARKETING COMMUNICATION 2
Executive summary
The main aim of this research is to generate the digital marketing communication in order to
attain the get the higher profit in commonwealth bank of Australia. Apart from this, this report
evaluates the competitive assessment that is practiced for assessing the competitive position of
commonwealth Australian bank. Porter’s five force model is used to examine the actual
competitive position of banking industry. Along with this, SWOT assessment is executed to
evaluate the internal condition related to commonwealth bank of Australia. Company will target
the urban people for selling the products and services. Along with this, there are also some
approaches for endorsing the campaign of social media like earned media, paid media design and
owned media design with placement. It would lead to get competitive benefits. This report found
that there are different digital marketing communication techniques that can be implemented in
commonwealth bank of Australia. These strategies can be content marketing, search engine
marketing, and e-mail marketing, and social media management. It is demonstrated that
monitoring and control tool is practiced for effectively deal with the companies.

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Table of Contents
Executive summary.........................................................................................................................2
Introduction......................................................................................................................................4
Company introduction.....................................................................................................................4
Competitive analysis........................................................................................................................4
Threats of New Entrants..............................................................................................................4
Bargaining Power of Suppliers....................................................................................................5
Bargaining Power of Buyers........................................................................................................5
Threats of Substitute Products or Services..................................................................................5
Rivalry among the Existing Competitors.....................................................................................6
SWOT analysis................................................................................................................................6
Identification of Target market (s) and relevant Branding and positioning strategies....................7
The strategy of a social media campaign.........................................................................................7
Owned Media Design & Placement.............................................................................................8
Paid Media Design & Placement.................................................................................................8
Earned Media & Social Listening Plan........................................................................................9
Digital marketing communication objectives..................................................................................9
Digital marketing communication Mix plan....................................................................................9
Content Marketing.......................................................................................................................9
Social media management...........................................................................................................9
Email Marketing........................................................................................................................10
SEO (search engine optimization).............................................................................................11
Monitoring and control..................................................................................................................11
Conclusion.....................................................................................................................................11
References......................................................................................................................................13
Appendix 1.....................................................................................................................................15

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Introduction
This report demonstrates a brief discussion about commonwealth bank of Australia. It also
explains the competitive position and SWOT assessment. Furthermore, it also demonstrates the
objective of digital marketing and also illustrates the positioning, branding and targeting
strategies. In addition, this report demonstrates the digital marketing communication objectives
and DMC strategies for commonwealth bank of Australia. It also explains the control and
monitoring approaches for corporation.
Company introduction
Commonwealth Bank of Australia was founded in the time period of 1911 under the
commonwealth bank act. However, it has processed and operated in the year of 1012. This bank
is certified for conducting different kinds of banking business such as general banking business
and saving banking business. Under the existing situation, commonwealth bank has enlarged
their business such as there are now more than 52000 of workforces and over 800,00
shareholders who are dealing in this bank. This bank offers a high range of financial plan in
order to carry out all Australians and diminishes their financial issues (Commonwealth Bank of
Australia, 2016).
Competitive analysis
Threats of New Entrants
In the Australian banking industry, the threat of new entrants is high. Because, new entrants
generate innovation and implement a new technique to deal in the business so, it could create
complexity for commonwealth bank of Australia. New entrants can practice the lower pricing
strategy and providing new value proposition and reduces the cost to persuade the high amount

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of consumers. Therefore, there is a requirement to commonwealth bank of Australia to decline
these hurdles and builds strategies to secure rivalry edge (Ryan, 2016).
Bargaining Power of Suppliers
In the banking sector, the company needs to acquire data from several suppliers. Furthermore, in
a dominant place, suppliers can reduce the margins. However, there is a requirement to
implement an effective approach. Thus, there is high bargaining power of the supplier because
there are fewer amounts of suppliers under the Australian banking industry. Therefore,
commonwealth bank of Australia should implement negotiation power in order to decline higher
rates from the suppliers in the banking industry. The impact of higher bargaining power of
suppliers may diminish the profitability of commonwealth Australian bank (Kaufman, and
Horton, 2014).
Bargaining Power of Buyers
In the banking industry, bargaining power of buyers is high due to the high accessibility of
banks. It is evaluated that the demand of customers in the banking industry is high. Along with
this, customers want to buy superior products as they can pay lower rates. It may generate
difficulty for commonwealth Australian bank. Furthermore, the high bargaining power of buyer
may influence long-term profitability. Consumers want to get discount in the higher extent that
may indirectly affect the revenue of company (Tiago, and Veríssimo, 2014).
Threats of Substitute Products or Services
In the Australian banking industry, threats of substitute’s products and services are higher. Along
with this, when new products and services attain needs of customers in a diverse way then, it
may favorably influence the growth of the industry. For instance, there are certain substitutes of
commonwealth bank of Australia such as ANZ, Westpack, and national Australian banks. In

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addition, the threat of substitute’s products and services are high because rivalry of
commonwealth bank of Australia focuses on the value proposition. Hence, commonwealth
should demonstrate the unique services among customers (Kannan, 2017).
Rivalry among the Existing Competitors
While the competition amid current competitors in an industry is high then it will decline the
expansion of an industry. Moreover, commonwealth bank of Australia trades in the rivalry
banking sector. This competition may generate the difficulties for obtaining the higher
profitability of commonwealth bank of Australia (Habibi, Hamilton, Valos and Callaghan, 2015).
SWOT analysis
Strength
 Commonwealth bank has different
brands named commonwealth
insurance limited, ASB banks, and
commonwealth securities limited.
 Commonwealth bank provides
different services such as investment
banking, private equity, mortgages,
insurance, corporate banking, credit
cards, global wealth management,
and consumer banking
 Rapid growth in business and
profitability of commonwealth bank
of Australia (Blakeman, 2018).
Weakness
 Commonwealth bank has
created a negative image in the
mind of customers due to
ineffective banking services
offered by employees.
 Inadequate skills and
incompetent workforces create
complexity in developing
innovative product
 Lack of knowledge regarding
the execution of innovative
technology (Järvinen, &
Karjaluoto, 2015).

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Opportunities
 Demonstrating a banking plan can
encourage the bank to encourage the
bank to build up their services at a
high extent
 Supportive behavior of employees of
the bank is beneficial to persuade the
consumers (Kingsnorth, 2016).
Threats
 Under the commonwealth bank, weak
development of a product can gain the
chances of obtaining less
advantageous.
 There is a high threat from competitors
on the local level (Chaffey, 2015).
Identification of Target market (s) and relevant Branding and positioning strategies
Commonwealth Bank of Australia will execute an undifferentiated marketing strategy in order to
influence the buying attitude of consumers within a predetermined time and cost. This approach
can be beneficial for the bank because it emphasizes on only one marketing mix strategy to target
the bulk of consumers in attaining the higher profits (Kavoura, and Stavrianea, 2014).
Positioning
Commonwealth Bank of Australia can emphasize on urban consumers to acquire more
advantages from these consumers. The key aim of selecting these customers is that they utilize
banking facilities more rapidly rather than other activities. It could be effective to accomplish a
reliable outcome (Taiminen, and Karjaluoto, 2015).
The strategy of a social media campaign
Commonwealth bank can use different strategies for reducing the concern of company in less
time period and fewer expenses. These strategies are earned media, paid media design and social

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listening plan with placement (Kumar, and Reinartz, 2018). These strategies are discussed as
given below:
Owned Media Design & Placement
(Sources: Killian, and McManus, 2015).
Commonwealth bank can implement this tool in order to develop their products and services in
the Australian and other nations. In addition, it is assessed that the company can obtain more
profitability and goodwill by implementing different elements such as the blog of the
corporation, mobile site and website of the bank (Piercy, 2016).
Paid Media Design & Placement
(Sources: Payne, Frow, and Eggert, 2017).
Commonwealth Bank of Australia can gain the awareness associated with banking facilities and
schemes by implementing paid media design along with a placement tool. There are different
sources to operate the bank that can be practiced by commonwealth Australian bank. These

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sources are paid social, YouTube, LinkedIn, pay per click, and display. Hence, it can be effective
to promote the services and plans for the bank (Royle, and Laing, 2014).
Earned Media & Social Listening Plan
Commonwealth bank can practice earned media together with a social listening plan in order to
interact with potential and specified consumers and develops a trustworthy link with them in less
time period. The key aim of this technique is that it aids a company for building two-way
interaction amid bank and their consumers (Piercy, 2016).
Digital marketing communication objectives
 To spread the awareness regarding banking services and schemes between the high
amount of consumers by 35% within the upcoming 4 month
 To gain 40% of the demand of consumers within the next 12 months
 To improve 30% of the revenue of the company within the upcoming 8 months
Digital marketing communication Mix plan
Commonwealth bank can apply an effective digital marketing communication mix plan because
this would lead to making direct interaction with the consumers and aids create favorable
feedback. This corporation can utilize this advanced tool at higher extent for dealing their
business in an effective way and get higher success (Piercy, 2016).
Content Marketing
Content marketing can be used by commonwealth bank in order to acquire reliable and authentic
information, and use storytelling for gaining the awareness of the brand. It would also support
for targeting the consumers to obtain maximum advantageous. Moreover, it is assessed that
content marketing plays a significant role in order to make liaison with their targeted consumers
for a longer time period (Kavoura, and Stavrianea, 2014).

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Social media management
Social media management can be a significant factor for the Commonwealth Bank of Australia in
the current business scenario as it can build the goodwill of the bank. An organization can enlarge
the information about the banking facilities as well as a plan between targeted consumers by
implementing social media. There are various sources like Snapchat, Facebook, Twitter and
Pinterest that would aid to the company to accomplish the objectives. Moreover, it is assessed that
social media management is the method that can aid to endorse the products and services of
Commonwealth Bank of Australia (Piercy, 2016).
In addition, it is assessed that social media management is the method for attracting the bulk of
consumers via one platform such as websites of social media. Moreover, social media can create
capabilities for companies in order to share the data and offers a channel for improving direct
communication with followers, competitors, customers, and partners. It can be a significant
component to increase knowledge about schemes and services of the bank in front of the bulk of
consumers in a feasible way (Chaffey, 2015).
It is assessed that social media marketing can avoid the challenges in order to perform direct
interaction with specified consumers. Commonwealth Bank of Australia can facilitate effective
customer services and respond significantly to their feedback via social media. Positive feedback on
social media can be beneficial for persuading potential consumers. In addition to this, unfavorable
feedback focuses on areas in which commonwealth bank of Australia can improve (Kannan, 2017).
Email Marketing
Under the existing phenomenon, e-mail marketing can be an effective tool for the company in
order to make an effective relationship with their consumers by consistently updating email.
Moreover, commonwealth bank can improve the awareness regarding banking facilities and can

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support to increase comprehension associated with the demand of customers and needs of
products and services (Kaufman, and Horton, 2014).
SEO (search engine optimization)
Search engine optimization is a key tactic that demonstrates content on websites hence search
engine can demonstrate it on the top level while some keywords are assessed by the user. There
are different search engines that can be practiced by consumers in order to increase the
responsiveness of customers. These strategies are Yahoo, Google, and Bing. In addition, search
engine optimization demonstrates keywords that can be typed by consumers in order to enhance
the knowledge about products and services of Commonwealth Bank of Australia (Ryan, 2016). It
is assessed that SEO can endorse the commonwealth bank of Australia in order to pool the
attention of consumers on the single place and helps to reach out the particular conclusion.
Monitoring and control
Feedback
Commonwealth bank can implement the feedback techniques and collects the belief and opinion
of consumers in order to increase the knowledge regarding the real situation of the company.
Along with this, feedback technique can also be helpful for the company to gain the awareness of
the brand (Blakeman, 2018).
Return on investment
Under the digital marketing plan, the return on investment can be an essential strategy as it will
assess the overall inflow and outflow of the cash. This technique may lead the corporation in
order to spend money on a specific area for attaining the goal (Habibi, Hamilton, Valos, and
Callaghan, 2015).
Conclusion

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As per the above interpretation, it can be summarised that commonwealth bank can execute the
competitive assessment tool in order to analyze the condition of the industry. In addition, SWOT
assessment is used for assessing the condition of internal and external atmospheres in the
marketplace. It can be concluded that the commonwealth bank of Australia may create the digital
marketing objectives and supports in making the digital marketing approach for the corporation.
It can be summarised that the commonwealth bank of Australia can emphasize on targeting,
positioning and branding strategy. It can also implement different strategies related to digital
marketing communication like social media, e-mail marketing, SEO and content marketing. It
can be also concluded that commonwealth bank can also different approaches to monitoring and
controlling like feedback and return on investment.

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References
Blakeman, R. (2018). Integrated marketing communication: creative strategy from idea to
implementation. UK: Rowman & Littlefield.
Chaffey, D. (2015). Digital business and e-commerce management. UK: Pearson Education
Limited.
Commonwealth Bank of Australia. (2016). Our history. Retrieved from:
https://www.commbank.com.au/about-us/our-company/history.html
Habibi, F., Hamilton, C. A., Valos, M. J., & Callaghan, M. (2015). E-marketing orientation and
social media implementation in B2B marketing. European Business Review, 27(6), 638-
655.
Järvinen, J., & Karjaluoto, H. (2015). The use of Web analytics for digital marketing
performance measurement. Industrial Marketing Management, 50, 117-127.
Kannan, P. K. (2017). Digital marketing: A framework, review, and research agenda.
International Journal of Research in Marketing, 34(1), 22-45.
Kaufman, I., & Horton, C. (2014). Digital marketing: Integrating strategy and tactics with
values, a guidebook for executives, managers, and students. UK: Routledge.
Kavoura, A., & Stavrianea, A. (2014). Economic and social aspects from social media's
implementation as a strategic innovative marketing tool in the tourism industry. Procedia
Economics and Finance, 14, 303-312.
Killian, G., & McManus, K. (2015). A marketing communications approach for the digital era:
Managerial guidelines for social media integration. Business Horizons, 58(5), 539-549.
Kingsnorth, S. (2016). Digital marketing strategy: an integrated approach to online marketing.
USA: Kogan Page Publishers.

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Kumar, V., & Reinartz, W. (2018). Customer relationship management: Concept, strategy, and
tools. USA: Springer.
Payne, A., Frow, P., & Eggert, A. (2017). The customer value proposition: evolution,
development, and application in marketing. Journal of the Academy of Marketing
Science, 45(4), 467-489.
Piercy, N. F. (2016). Market-led strategic change: Transforming the process of going to market.
UK: Routledge.
Royle, J., & Laing, A. (2014). The digital marketing skills gap: Developing a Digital Marketer
Model for the communication industries. International Journal of Information
Management, 34(2), 65-73.
Ryan, D. (2016). Understanding digital marketing: marketing strategies for engaging the digital
generation. USA: Kogan Page Publishers.
Taiminen, H. M., & Karjaluoto, H. (2015). The usage of digital marketing channels in SMEs.
Journal of Small Business and Enterprise Development, 22(4), 633-651.
Tiago, M. T. P. M. B., & Veríssimo, J. M. C. (2014). Digital marketing and social media: Why
bother?. Business Horizons, 57(6), 703-708.

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Appendix 1
A website redesign
It could be generated via implementing a mock design related to the homepage together with
changes in hierarchy format on websites. Following screenshots depict the existing web page and
changes on relevant pages are explained. It is assessed that the commonwealth bank of Australia
can make necessary changes in the website in a specified duration in order to persuade a large
number of consumers. It can involve certain elements during the redesign of websites such as the
range of banking facilities, feedback column, and ease services.
Commonwealth bank can put the more comprehensive image on the websites as it would be
effective to influence the bulk of consumers. It can also emphasize on certain points like column
feedback, the range of financial products and ease and convenience websites.
Appendix 2: Design and present a monthly company email newsletter

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