by October 24th, 2013on
Because technology is now a key tool that enables marketing, the CMO – CIO worlds have collided, requiring enhancements to collaboration not only among those two groups, but also across the organization. But what is it that has changed, and what are these new challenges that we face?
- The business is directing the technology budget. CIOs are no longer just managing an IT budget, but also a “business technology” budget – the costs of those technologies that support the customer, drive insights for the business about the customer (business intelligence), and more.
- Big data is critical to competitive advantage. This is the “Age of the Customer”, which means that, according to David Cooperstein in an article for Forbes, “the strategies that matter most are those that don’t start with the channel, i.e. mobile-first or digital-first. Marketers need to put themselves in their customers’ seat and define the marketing activities they take on from a customer-first perspective.“
- Consumerization of IT has an impact. According to Andrew Reid, Founder & President, Vision Critical, ”BYOD (Bring Your Own Device to work) is making enterprise IT cheaper and less relevant.”
What challenges do we face now?
- Clarity around responsibility is becoming an issue
- Changing allocation of budgets means that it’s no longer clear who, exactly, is responsible for investment in things like big data and enterprise social networks.
- As the technology trends and social business world change as fast as they are, business objectives are also changing rapidly, making it difficult to align objectives against common goals.
- CMOs and CIOs have to “get with the times.” According to Anne Park Hopkins, Client Partner in Korn Ferry’s Global Technology Markets, old school CMOs “are non-analytical, shy away from data, and focus predominantly on advertising and promotion while old school CIOs are back-office technologists who don’t engage in the broader business.” This causes conflict as the two leaders of the function fail to see the bigger picture. Read the rest of this post »