Facebook test a two-day wonder for CBA
Commonwealth Bank closed off a social media marketing campaign after little more than two days - and more than three and a half weeks earlier than planned - after the promotion hit its target almost immediately.Andrew Lark, chief marketing officer at CBA, told the Advertising and Marketing Summit in Sydney yesterday that the tie-up campaign with Facebook Deals - launched on August 15 - was "a bit of a test".Lark said: "We had a model that this campaign would run for a two- to four-week period, with a target of 3000 to 4000 new accounts. The campaign sold out in 56 hours."It is a hugely efficient way to generate fans and new customers, and at incredibly low cost. This is not like producing a TV ad. The barriers to entry are... [down for] to everybody."B&T reported on Lark's talk at the summit yesterday. Nearly every notion of traditional marketing is coming to the end of its lifecycle, Lark said."The message is that we are rapidly approaching a point in time where the traditional marketing models actually won't work. The traditional notion of the pipeline, the funnel, we have got to question that. "We have to question traditional notions such as share of voice and the impact of correlating share of voice purely to revenue. Nearly every traditional notion of marketing is at the end of its life cycle."Transmitting messages is insufficient. You are going to have to work out how to drive participation. You are going to have to bring marketing a lot closer to IT and start building platforms on which your customers can participate."Lark took up the reins as chief marketing officer at CBA last month.He was formerly vice president at Dell and was responsible for leading the global marketing of its Public and Large Enterprise Group.But most of his experience in social media strategy arises from an earlier role at Dell, where he led the communications and online operation for the world's largest e-commerce site, Dell.com.