The CMO/CIO relationship is a paradox: A powerful partnership between advertising and marketing and know-how groups is crucial to attaining buyer success, however examples of nice collaboration between the 2 have been scarce.
That’s altering, nonetheless. The pandemic compelled advertising and marketing and IT to work collectively, shrinking the collaboration hole. It has additionally revealed new alternatives for CMOs and CIOs to align their groups to speed up digital transformation, particularly round hybrid commerce.
There’s no good org mannequin for bringing advertising and marketing and know-how collectively; even when there was, organizations don’t change in a single day. Your resolution will rely in your firm’s tradition and legacy. Nonetheless, you possibly can speed up the convergence between advertising and marketing and know-how by:
- Specializing in hybrid commerce experiences to drive development. CEOs depend on CMOs for development. To ship this development, CMOs have to work carefully with CIOs to reconfigure the enterprise by the lens of the client. Hybrid commerce is the proper option to ignite CMO/CIO collaboration. The pandemic has drastically accelerated the shift to digital, however regardless of robust e-commerce development within the years to come back, bodily shops will proceed to seize most retail gross sales — together with 72% of all US retail gross sales in 2024. The road between offline and on-line journeys will more and more blur as shoppers count on extra built-in bodily and digital experiences.
- Rethinking the martech ecosystem to remain forward of knowledge deprecation. Greater than 20% of the advertising and marketing finances is used for know-how; one-third of selling organizations have already got a devoted know-how workforce. Getting ready for a data-deprecated future is a perfect alternative for the CMO and CIO to redefine a joint agenda on the convergence of martech and adtech. CIOs have lengthy complained about know-how sprawl, with too many level options and related knowledge integration, efficiency, and safety challenges. The strategic significance of buyer insights will pressure entrepreneurs to carry knowledge again in home.
- Accelerating innovation through the use of a brand new working mannequin. As a substitute of making an attempt to rework legacy infrastructure and instruments in siloed organizations, some corporations want to create new subsidiaries to speed up innovation, launch new choices and merchandise, or enter adjoining markets. That is the proper alternative to determine a brand new collaboration mannequin between advertising and marketing and know-how groups.
- Embracing ESG as a catalyst for enterprise transformation. For corporations whose CEOs have determined to embrace environmental, social, and governance (ESG) points, ESG provides one other alternative for CMOs and CIOs to collaborate. CMOs usually tend to see better ESG alternatives, as they work with exterior stakeholders and analyze societal modifications; they perceive that ESG is a part of the subsequent wave of enterprise transformation alongside digital transformation. The important components of this collaboration? Creating provide chain and logistics transparency; enabling the traceability of uncooked supplies and substances; lowering the corporate’s carbon footprint by “inexperienced IT” and “IT for inexperienced” initiatives; and supporting out-of-the-box sustainable innovation based mostly on eco-friendly designs and disruptive applied sciences.
To seek out out extra, shoppers can entry this brand-new report that helps B2C CMOs and their groups unite their firm’s advertising and marketing and know-how methods.
I’m curious to listen to your suggestions and experiences of collaborating with IT and know-how leaders, so be at liberty to schedule a guidance session to talk.