Commonwealth Bank Marketing Strategy 2024: A Case Study

As one of Australia’s leading banks, Commonwealth Bank is continuously evolving its marketing strategy to stay competitive in the ever-changing banking and financial services industry. In 2024, the bank’s focus is on leveraging digital tactics and customer engagement initiatives to achieve financial success and enhance its market position.

With a market share revenue of $3,061 crores AUD as of 2020, Commonwealth Bank has established itself as a formidable player in the industry. Under the leadership of CEO Matt Comyn and CMO Jo Boundy, the bank serves customers worldwide with a strong emphasis on providing outstanding service and personalized assistance.

Key Takeaways:

  • The marketing strategy for 2024 focuses on digital marketing and social media strategies.
  • Market segmentation is a crucial component of the bank’s marketing strategy.
  • Campaign effectiveness is monitored through marketing analytics and ROI tracking.
  • Enhancing customer engagement through innovative marketing tactics is a priority.
  • Strategic partnerships are utilized for growth and expansion.

About Commonwealth Bank

Commonwealth Bank, also known as CommBank, is a leading Australian banking group that offers a wide range of financial services. With a history dating back to 1911, Commonwealth Bank has established itself as a trusted institution in the Australian market.

As one of the largest banks in Australia, Commonwealth Bank provides comprehensive banking solutions to individuals, businesses, and institutions. Their services include retail banking, institutional banking, funds management, insurance, and investment. With a focus on delivering exceptional customer experiences, Commonwealth Bank continues to innovate and adapt to meet the evolving needs of their customers.

With a strong digital presence, Commonwealth Bank’s online platform and mobile app provide customers with convenient and seamless access to their accounts and a wide range of banking services. This digital footprint has contributed to the bank’s success in serving its 15 million customers and has seen over 1.2 million customers logging into their digital channels daily.

Key Statistics Numbers
Employees Over 48,000
Branches and Call Centers More than 1,000

Moreover, Commonwealth Bank has implemented advanced technology in their Customer Relationship Banking Program. The program features an AI-driven customer-experience platform called the Customer Engagement Engine (CEE). This platform, powered by 450 machine learning models and learning from billions of data points, makes 35 million decisions per day in less than 300 milliseconds.

The implementation of the CEE has revolutionized the bank’s customer interactions. It has led to a tenfold increase in leads for the home lending teams and improved the Net Promoter Score (NPS) among mortgage customers by 16.4 points. Additionally, over 40 percent of contact center interactions have shifted to chat messaging following prompts from the CEE.

Commonwealth Bank’s commitment to technological innovation and personalized customer experiences has solidified its position as a leading Australian banking group. Through their diverse range of financial services and forward-thinking approach, Commonwealth Bank continues to provide exceptional value to its customers and stakeholders.

Quick Stats on Commonwealth Bank

CommBank, led by CEO Matt Comyn and CMO Jo Boundy, holds a strong position as one of the four major banks in Australia. With a significant market share and impressive revenue generation of $3,061 crores AUD in 2020, the bank’s financial services are classified as “stars” in the BCG matrix, highlighting their profitability and market position.

The bank operates not only in Australia but also across multiple countries, including New Zealand, Asia, and the United States. It leverages its core competencies in human resources, marketing, communication, and financial services to deliver quality products and services to its customers.

The Commonwealth Bank app has been instrumental in the bank’s success, with impressive engagement numbers. The number of unique users of the CommBank app increased from 7.8 million in June 2023 to 8.1 million in October 2023. Daily log-ins to the app have increased to more than 11 million per day, totaling around 4 billion log-ins per year, a 33% increase from the previous year.

Customers across different age groups engage with the app’s features, with an average app customer logging in 41 times a month. Specifically, customers in the 20-29 year age group log in 51 times per month, showcasing their active usage, while customers over the age of 65 check the app once per day on average.

Customers find value in the app’s money management features as they engage with them over 3 million times per month. Additionally, the app has become a preferred platform for payment processing, with customers using it to process approximately $2.5 billion in payments per day, showing a 23% year-on-year increase.

Furthermore, the CommBank app has been successful in capturing business customers, as it accounts for almost a quarter of all new CommSec accounts opened. Business customers utilizing the profile switch feature spend 20% more time on the app, indicating its importance in their daily operations.

As part of its commitment to empowering customers, CommBank offers the Yello program, providing value back to customers annually. With expanded access to 8 million customers, the Yello program delivers $400 million in value each year.

The bank’s dedication to innovation is evident in the success of Kit, the money-mastering app for kids, which has 36,000 users and has shown a 14% uplift in financial capability and knowledge among its users.

In addition to its impactful digital services, CommBank has solidified its position in the market through its Business Bank, offering Business Transaction Accounts. Close to 1,000 new Business Transaction Accounts are opened daily in the first quarter of FY24, indicating a 23% year-on-year increase in new accounts. As of September 2023, Business Bank has over 1.3 million Business Transaction Accounts, showcasing a 9% increase from the previous year.

With a focus on technology and digital offerings, CommBank has invested more than $750 million annually in AI to protect customers from financial crime, cyber threats, and fraud. The bank’s AI defenses scan 360,000 interactions per second, leading to a 70% reduction in cryptocurrency investment scams. AI-powered tiles in the app have also been successful in driving engagement, delivering 50% higher engagement compared to non-AI tiles.

Key Statistics

Statistic Value
Number of unique users of CommBank app (June 2023 to October 2023) 7.8 million to 8.1 million
Daily log-ins to the CommBank app More than 11 million
Total log-ins per year Around 4 billion
Average monthly log-ins per app customer 41 times
Monthly log-ins for customers aged 20-29 51 times
Monthly log-ins for customers over 65 24 times
Engagement with app’s money management features per month Over 3 million times
App payments processed per day Approximately $2.5 billion
Business customers spending more time on the app (using the profile switch feature) 20% more time
CommBank app’s share of all new CommSec accounts opened Almost a quarter
Value provided back to customers annually through CommBank Yello program Around $400 million
Kit users showing uplift in financial capability and knowledge 14%
New Business Transaction Accounts opened daily in Q1 FY24 (year-on-year increase) Close to 1,000 (23%)
Business Transaction Accounts as of September 2023 (year-on-year increase) Over 1.3 million (9%)
Business Lending in the first quarter of FY24 (year-on-year increase) $2.2 billion (12%)
Loans funded on Biz Express over the past 12 months (year-on-year increase) $676 million (doubled)
Percentage of small business loans generated through the online lending platform Almost two out of three
Annual investment for AI to protect customers More than $750 million
Reduction in cryptocurrency investment scams due to AI defenses 70%
AI-powered tiles’ higher engagement compared to non-AI tiles 50%

Segmentation, Targeting, and Positioning

Commonwealth Bank, a leading player in the banking and financial services industry, implements effective marketing strategies that revolve around segmentation, targeting, and positioning. By deeply understanding their diverse customer base, Commonwealth Bank tailors its offerings and messaging to meet the specific needs and preferences of different market segments.


Segmentation is the process of dividing the market into distinct groups based on various characteristics such as demographics, psychographics, and behaviors. Commonwealth Bank identifies different segments within the market, allowing them to create tailored products and services that cater to the unique requirements of each segment.

With over 15 million customers served in 2021, Commonwealth Bank has a vast and diverse customer base. These customers can be segmented into different categories, including retail banking, business banking, and institutional banking.


After segmenting the market, Commonwealth Bank focuses on targeting specific customer segments with its marketing efforts. This involves selecting the most attractive and profitable segments to prioritize and allocate resources accordingly.

Commonwealth Bank recognizes the importance of catering to retail banking customers and provides a range of products and services tailored to meet their financial needs. These offerings include savings accounts, home loans, and credit cards. Additionally, the bank offers specialized services for businesses, helping them manage their finances and achieve growth. Furthermore, Commonwealth Bank provides comprehensive solutions for institutional clients, including asset management, risk management, and transaction services.


Positioning is the process of creating a unique and favorable perception of a brand in the minds of the target customers. Commonwealth Bank aims to position itself as a reliable and innovative financial institution that understands and meets the diverse needs of its customers.

With more than 52,000 dedicated employees working for Commonwealth Bank, the organization prides itself on its commitment to customer satisfaction and delivering excellent financial services. Moreover, Commonwealth Bank’s record high share price of $110.13 during FY2022 demonstrates the confidence and trust investors place in the bank.

By leveraging its market share, reputation, and extensive range of products and services, Commonwealth Bank effectively positions itself as a leading provider of retail banking, business banking, and institutional banking solutions. The bank’s vision of making sustainable, transparent, and balanced business decisions aligns with its positioning and serves as a guiding principle in its operations.

In conclusion, Commonwealth Bank’s marketing strategies, characterized by segmentation, targeting, and positioning, enable the bank to effectively serve its diverse customer base and maintain its standing as a leader in the banking and financial services industry.

Marketing Campaigns

The Commonwealth Bank is widely recognized for its successful and innovative marketing campaigns that help reinforce its brand image and engage customers. By leveraging creative strategies and influential partnerships, the bank has been able to connect with its target audience effectively.

One notable campaign by Commonwealth Bank was the Cricket Club campaign, which represented 25.72% of all media activities between November 2014 and January 2015. This campaign, along with Extra Security and Keep Your Business Moving, accounted for over 64% of the bank’s media strategy during the same period.

These campaigns not only increased brand visibility but also contributed to maintaining a strong Share of Voice (SOV) of 7.56% on average from November 2014 to January 2015. This SOV was significantly higher than the industry brand average of 1.57%, demonstrating the bank’s commitment to dominating the market.

Commbank strategically focused its television advertising during the first and last positions of commercial breaks, capturing the attention of viewers. Moreover, the bank targeted mornings (5am to 10am) and evenings (6pm to 12am) to deliver its message centered around helping Australian families save.

Home Loans were a major target of Commonwealth Bank’s marketing activities in 2014, highlighted by a campaign offering a 4.69% P.A. 3 Year Fixed Package Rate and a 5.42% P.A. Comparison Rate. These campaigns aimed to attract customers looking for favorable loan options.

Looking ahead, BigDatr forecasts increased Home Loan campaign activities from February to April 2015, followed by the promotion of Credit Card products from May to August 2015.

With a focus on digital leadership, the Commonwealth Bank announced a $5 billion investment in technology in 2019. They also recorded a significant spend of $465 million on marketing, advertising, and loyalty operations in the same year.

It’s worth noting that the Commonwealth Bank’s website receives over 25 million visits per month, ranking it at #22 in Australia by traffic. Approximately 80% of the website traffic comes from mobile devices, highlighting the bank’s emphasis on catering to the needs of mobile users.

The bank heavily invests in Paid Search campaigns, allocating an estimated $620K per month for paid keywords related to mortgages, car loans, and personal loans. This strategic focus on relevant keywords has resulted in increased traffic to the bank’s website.

Furthermore, the Commonwealth Bank stands out among the ‘Big Four’ banks in terms of paid search traffic volume and spending, solidifying its position as a leader in online advertising among its competitors.

While information regarding investment details on Paid Social channels like Facebook and Instagram is not provided, the bank’s Facebook Ad Library offers valuable insights. All ads in the library use video format, showcasing specific offers, charitable initiatives, TV ads, and content promotions. The presence of only one ad variation for each campaign suggests that the bank implements rigorous testing and optimization strategies.

It is important to note that fewer products and services are promoted through Paid Social compared to Paid Search, indicating potential variations in focus or ROI strategies.

Overall, the Commonwealth Bank has effectively harnessed the power of its marketing campaigns to build a strong brand image and engage customers. With a focus on digital innovation and strategic investments, the bank continues to lead in the highly competitive banking industry.

Social Media Marketing

Commonwealth Bank recognizes the significance of social media marketing in reaching, engaging, and building relationships with their target audience. By leveraging popular platforms such as Instagram, Facebook, and LinkedIn, the bank effectively connects with their customers and communicates their brand message.

When implementing their social media strategy, Commonwealth Bank understands the importance of dedicating time and resources to maintain a strong social presence. Studies suggest that spending around half an hour each day on social media activities can yield favorable outcomes. This includes engaging with followers, responding to inquiries, and sharing valuable content that resonates with their audience.

To optimize their social media efforts, Commonwealth Bank focuses on targeting specific customer segments. By defining segments based on age, gender, interests, and profession, the bank can tailor their marketing messages and campaigns to better resonate with each group. This personalized approach enhances the effectiveness of their social media marketing efforts and drives desired outcomes.

It is vital for Commonwealth Bank to monitor the performance of each social media platform to identify which channels drive the most traffic to their website. By analyzing metrics such as website clicks, conversions, and engagement rates, the bank can make data-driven decisions to optimize their social media marketing strategy.

Engaging with and nurturing their social media followers is an integral part of Commonwealth Bank’s strategy. By promptly responding to comments, messages, and inquiries, the bank builds trust, strengthens customer loyalty, and fosters a positive online community. This direct interaction demonstrates the bank’s commitment to customer satisfaction and creates a sense of belonging among their followers.

Tracking social media performance metrics enables Commonwealth Bank to evaluate the effectiveness of their marketing efforts. By analyzing growth, engagement, and sharing metrics, the bank gains valuable insights into the success of their campaigns, identifies areas for improvement, and refines their content strategy accordingly.

Influencer Marketing

Another crucial element of Commonwealth Bank’s social media marketing strategy is influencer marketing. The bank collaborates with influencers who align with their brand values and target audience. By partnering with influencers who have a strong following and influence in their respective niches, Commonwealth Bank can extend their reach and engage with a wider audience.

Influencers play a vital role in amplifying the bank’s brand message, increasing brand awareness, and generating interest in their products and services. This approach allows Commonwealth Bank to tap into the influencer’s credibility and influence, leveraging their social media platforms to promote the bank’s offerings organically.

By strategically selecting influencers, Commonwealth Bank can reach specific demographics and niche markets that align with their target audience. For example, partnering with influencers who have a significant presence on Instagram can help the bank connect with younger demographics, while collaborating with business-focused influencers on LinkedIn can target professionals and entrepreneurs.

However, it is essential for Commonwealth Bank to carefully evaluate potential influencers, considering factors such as their credibility, alignment with the bank’s values, and genuine connection with their audience. This ensures that the partnership generates authentic engagement and resonates well with their target market.

Key Insights Statistics
Number of Digitally Active Customers 7.5 million (showing a 10% increase since December 2018)
CommBank App Users 6.3 million in December 2020 (up from 5.9 million in the previous year)
App Log-ins 216 million in December 2020 (average of 6.95 million log-ins per day)
Daily Transactions through the App 1.7 million in December 2020 (total of $1 billion processed daily)
Personalized In-App Messages Sent in 2020 Over 6 billion
COVID-19 Support Messages Sent in 2020 731 million
Benefits Finder Service Assisted customers in finding over $150 million annually in federal and state financial benefits
Benefits Finder Service 2.9 million visitors since launch in September 2019; 920,000 claims initiated, with 615,000 claims started during COVID-19
Crises Response Messages Sent in 2020 6.4 million
BizExpress Online Offers funding for small businesses, providing up to $100k in just 12 minutes to support and grow operations

SWOT Analysis

Conducting a SWOT analysis is essential for evaluating the strengths, weaknesses, opportunities, and threats of the Commonwealth Bank. This analysis aids in identifying areas where the bank excels, areas that need improvement, potential growth opportunities, and potential risks that could hinder its success.


  • The Commonwealth Bank has a rich history, operating for over 102 years, which has built a strong reputation and brand value in the Australian financial services industry.
  • With more than 45,000 employees, the bank has a dedicated workforce that contributes to its effective operations and customer service.
  • More than 33% of Australians aged 14 or older are customers of the Commonwealth Bank, showcasing its vast customer base and market reach.
  • As the second-largest Australian-based company on the Australian Securities Exchange, the Commonwealth Bank holds a significant market position.
  • The bank has established a robust global presence with branches in major international locations such as London, New York, Hong Kong, and Singapore.
  • CBA offers a diverse portfolio of services including retail banking, business banking, wealth management, and insurance, which contributes to diversified revenue streams.
  • The bank’s strong brand presence enhances customer trust and loyalty, both in Australia and globally.
  • Expanding digital banking services provide an opportunity for the Commonwealth Bank to meet the evolving needs of customers and enhance their overall banking experience.


  • The bank experienced a loss of market share in segments such as home loans, retail deposits, credit cards, and business loans during 2011-2012, indicating vulnerabilities in these areas.
  • Cyber-crime poses a threat to the bank’s activities and growth, requiring robust security measures to protect customer data and financial transactions.
  • The global financial crisis created an unstable operating environment for Australian banks, impacting consumer confidence and revenue growth.
  • CBA faces foreign exchange rate risks due to its international presence, requiring effective risk management strategies.
  • Maintaining effective internal communication and coordination can be challenging, affecting seamless customer experiences and operational efficiency.
  • Controversies and scandals, such as the money laundering scandal and charging non-existent fees, have negatively impacted the bank’s reputation.


  • Expanding stockbroking services can attract new customers and retain existing ones by providing a comprehensive range of financial services.
  • Leveraging technological advancements, such as mobile banking applications, AI, and machine learning, can help automate processes, personalize customer interactions, and offer innovative financial solutions.
  • Global expansion presents an opportunity for the Commonwealth Bank to tap into international markets, diversify revenue streams, and broaden its customer base.


  • Increasing competition in the banking sector from traditional banks and emerging fintech companies poses a significant threat. To differentiate itself in the market, CBA must focus on digital transformation, technology investment, and continuous innovation.
  • Economic fluctuations and regulatory changes can impact the bank’s operations and profitability, necessitating flexibility and proactive risk management.
Strengths Weaknesses Opportunities Threats
The Commonwealth Bank has a rich history and strong brand value. Loss of market share in various segments. Expanding stockbroking services. Increasing competition in the banking sector.
Large employee base and dedicated workforce. Cyber-crime threats. Leveraging technological advancements. Economic fluctuations and regulatory changes.
Wide customer base and market reach. Global financial crisis impact. Global expansion.
Second largest Australian company on the ASX. Foreign exchange rate risks.

PESTLE Analysis

A PESTLE analysis is an essential tool for understanding the external factors that can impact the operations and strategy of Commonwealth Bank. By examining the political, economic, social, technological, legal, and environmental aspects, the bank gains valuable insights to make informed decisions and navigate the complex business landscape.

Political Factors

With operations in more than a dozen countries, Commonwealth Bank is exposed to diverse political environments and system risks. Factors influencing political stability include military invasion risk, corruption levels, regulations, bureaucracy, and intellectual property protection.

Economic Factors

The bank’s performance is influenced by various economic factors such as inflation rate, savings rate, interest rate, foreign exchange rate, and the economic cycle. Economic growth rate, employee benefits, labor costs, and productivity are also essential indicators that impact Commonwealth Bank’s operations.

Social Factors

Social factors play a significant role in shaping the bank’s strategy. Demographics, education levels, culture, attitudes, and leisure interests of the target market are some of the key social factors that impact Commonwealth Bank.

Technological Factors

In an increasingly digital world, technological advancements and their impact on the cost and value chain structures are critical considerations for Commonwealth Bank. The rate of technological diffusion and adoption affects customer preferences and behavior, making it necessary for the bank to stay up-to-date with the latest developments.

Environmental Factors

As sustainability becomes a global priority, environmental factors have gained importance for businesses, including banks. Weather conditions, air and water pollution regulations, waste management practices, and attitudes towards ecological products are some of the key environmental factors that Commonwealth Bank must consider.

Legal Factors

Compliance with legal frameworks is crucial for the smooth functioning of Commonwealth Bank. Anti-trust laws, intellectual property laws, consumer protection regulations, and data protection requirements are some of the legal considerations that the bank must adhere to.

To ensure consistent growth and success, Commonwealth Bank conducts a comprehensive PESTLE analysis to assess the external factors that can shape its operations and marketing strategy. By understanding the political, economic, social, technological, legal, and environmental landscape, the bank can make informed decisions that align with the ever-changing business environment.

7P’s Analysis

In order to evaluate the marketing mix of Commonwealth Bank, a comprehensive 7P’s analysis is conducted. This analysis involves examining the seven key elements of the bank’s marketing strategies: product, price, place, promotion, people, process, and physical evidence. By focusing on these aspects, Commonwealth Bank aims to align its offerings with the needs and preferences of its target market.


Commonwealth Bank offers a wide range of products and services, including savings accounts, loans, credit cards, insurance, and investment options. The bank constantly innovates its offerings to meet the evolving demands of its customers and stay competitive in the market.


The pricing strategy of Commonwealth Bank takes into account market conditions, customer expectations, and profitability. The bank aims to strike a balance between competitive pricing and maintaining sustainable profitability.


With a nationwide network of branches and ATMs, as well as a robust online and mobile banking platform, Commonwealth Bank ensures convenient access to its services for customers across Australia. The bank also offers personalized services through mobile mortgage lenders who meet customers at their homes.


Commonwealth Bank employs various promotional strategies to create awareness and attract customers. This includes engaging with customers through social media networks such as Instagram, Facebook, and LinkedIn. The bank also utilizes sponsorship opportunities in sports like Cricket and Rugby as part of its marketing and advertising efforts.


The bank recognizes the importance of its people in delivering outstanding service to customers. Commonwealth Bank invests in employee training and development to ensure its staff members are equipped with the necessary skills and knowledge to provide exceptional customer experiences.


Efficient and streamlined processes are crucial to delivering a seamless banking experience. Commonwealth Bank continuously enhances its processes to simplify transactions, reduce wait times, and improve overall customer satisfaction.

Physical Evidence

Physical evidence refers to the tangible aspects that shape a customer’s perception of the bank, such as branch layout and design. Commonwealth Bank invests in branch refurbishments to provide an inviting and modern environment for its customers.

An effective 7P’s analysis allows Commonwealth Bank to evaluate and optimize its marketing mix, ensuring that its products, pricing, distribution channels, promotions, people, processes, and physical evidence are aligned with its customers’ needs and expectations.

Porter’s Five Forces

In the dynamic and competitive landscape of the banking industry, Porter’s Five Forces analysis provides valuable insights for Commonwealth Bank of Australia (CBA) to assess its position and identify strategic opportunities and challenges. This analysis allows CBA to evaluate the competitive forces shaping the industry’s profitability and attractiveness.

Threat of New Substitute Products

The introduction of new players in the banking industry brings the potential threat of low-cost strategies, which can erode CBA’s competitive advantage. To mitigate this threat, CBA must continuously innovate, reduce costs, and provide unique value propositions to customers.

Bargaining Power of Suppliers

Suppliers in the banking industry can impact product availability and cost structures. CBA must effectively manage supplier relationships and ensure alternative options to minimize the risk of higher costs, safeguarding profitability.

Customer Bargaining Power

Customers’ constant pursuit of better deals influences the profitability of banks like CBA. By continuously delivering new products and services, CBA can limit the bargaining power of buyers and maintain customer loyalty and satisfaction.

The Threat of Substitute Products or Services

New products or services that meet customer needs in different ways pose a threat to the profitability of the banking industry. CBA must identify these potential substitutes and leverage its strengths to differentiate itself and retain its market share.

Competition Among Current Rivals

The banking sector experiences intense competition, which can lead to lower costs and profitability. To maintain its market position, CBA needs to implement effective strategic measures that enhance customer loyalty, market differentiation, and process efficiency.

Global Outsourcing

Global outsourcing, particularly in countries like India, presents cost advantages for the banking industry. By leveraging outsourcing opportunities, CBA can optimize operations and cost structures, leading to increased profitability.

Overall, Porter’s Five Forces analysis helps Commonwealth Bank of Australia understand the industry’s competitive dynamics, market forces, and underlying profitability levers. With this knowledge, CBA can develop a strategic position in the banking industry and explore profitable opportunities in the broader sector.


The Commonwealth Bank’s marketing strategy for 2024 is centered around digital tactics, customer engagement initiatives, and a holistic approach to achieving financial success. Through effective segmentation, targeting, and positioning, the bank aims to connect with their target audience and strengthen their brand image.

Utilizing various tools and techniques such as SWOT analysis, value chain approach, VRIN/VRIO framework, and BCG matrix, the bank has assessed its strategic strengths and weaknesses. The study reveals that the bank’s core competencies lie in human resources, marketing, communication, financial services, retail banking services, premium banking services, wealth management, and international financial services.

By leveraging data analytics and implementing innovative technologies, such as the Customer Engagement Engine (CEE) and the Benefits finder feature in the CommBank app, the bank personalizes customer experiences and offers tailored solutions. Furthermore, through strategic partnerships and a strong emphasis on cybersecurity and data protection measures, Commonwealth Bank has expanded its customer base and enhanced customer trust.

With a focus on digital innovation, cloud computing, and artificial intelligence adoption, Commonwealth Bank is well-positioned to stay ahead of competitors and provide exceptional customer experiences. As the largest bank in the southern hemisphere and one of the four biggest banks in Australia, the bank’s market capitalization continues to grow, solidifying its status as a leading player in the industry.


What is Commonwealth Bank’s marketing strategy for 2024?

Commonwealth Bank’s marketing strategy for 2024 involves a focus on digital tactics and customer engagement initiatives to achieve financial success and establish a competitive edge in the market.

What services does Commonwealth Bank offer?

Commonwealth Bank offers a diverse range of financial services, including retail banking, institutional banking, funds management, insurance, and investment, catering to the needs of individuals, businesses, and institutions.

Who are the CEO and CMO of Commonwealth Bank?

Commonwealth Bank is led by CEO Matt Comyn and CMO Jo Boundy.

What is Commonwealth Bank’s market share and revenue?

As of 2020, Commonwealth Bank generated ,061 crores AUD in revenue and has a significant market share.

How does Commonwealth Bank segment its target market?

Commonwealth Bank utilizes segmentation, targeting, and positioning strategies to tailor its offerings and messaging to the unique needs and preferences of different customer segments, including retail banking customers, businesses, and institutional clients.

What marketing campaigns has Commonwealth Bank implemented?

Commonwealth Bank has implemented marketing campaigns like “CAN Live Here” and “BreakTheBias,” which have successfully enhanced brand perception and increased customer engagement.

How does Commonwealth Bank leverage social media for marketing?

Commonwealth Bank utilizes social media platforms like Instagram, Facebook, and LinkedIn for social media marketing, sharing informative posts, banking tips, and campaign highlights to engage their audience and build an online presence.

What analysis does Commonwealth Bank conduct to inform its marketing strategy?

Commonwealth Bank conducts SWOT analysis, PESTLE analysis, 7P’s analysis, and Porter’s Five Forces analysis to evaluate internal and external factors that may influence their marketing strategy and make informed decisions.

What is the aim of Commonwealth Bank’s marketing strategy for 2024?

Commonwealth Bank’s marketing strategy for 2024 aims to achieve financial success and establish a competitive edge in the market through digital tactics, customer engagement initiatives, and a comprehensive approach.
About the author

Nina Sheridan is a seasoned author at, a blog renowned for its insightful exploration of the increasingly interconnected worlds of business, technology, and lifestyle. With a keen eye for the dynamic interplay between these sectors, Nina brings a wealth of knowledge and experience to her writing. Her expertise lies in dissecting complex topics and presenting them in an accessible, engaging manner that resonates with a diverse audience.