The Commonwealth Bank will double its digital media and advertising spend over the next twelve months, increasing its social media presence and generating more online content. CommBank haven’t revealed exact figures, though Nielsen reports the financial giant spent $55.5m on traditional media in the FY10/11.

Integrated campaigns on the rise

While CommBank’s commitment to TV, radio and print media will not be affected, the bank will be looking at ways to integrate future campaigns with digital content and complement its existing Facebook, Twitter and YouTube channels.

Use of social media to amplify traditional media campaigns is on the rise in Australia. The National Australia Bank’s ‘Honesty Experiments’ launched a series of videos online before spreading to TV, while Coca Cola’s ‘Share a Coke’ campaign encourages customers to win prizes and create their own ads via the company’s Facebook page.

Which bank?

Whilst many will associate social media in the banking sector with NAB’s still top-of-mind Break Up campaign, CommBank is set to make up lost ground. Its ‘One Hundred Years Together’ campaign utilised print, television and digital media. The increased spend in the digital space makes CommBank one to watch for the coming year.

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Featured: NetBank, @NetBank

Article by Dan Kuseta: @dankuseta, @smkapac