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CMOs And CIOs: The New C-Suite Power Couple? - Forrester | #TheMarketingAutomationAlert

CMOs And CIOs: The New C-Suite Power Couple? - Forrester | #TheMarketingAutomationAlert | The MarTech Digest | Scoop.it
Over the past few weeks, I’ve had the pleasure of moderating panel discussions on the importance of a strong working relationship between CMOs and CIOs at the Direct Marketing Association 2013 Strategic Summit and the Forbes CMO Summit.


Digest...


Regarding critical dimensions of people, process, and technology, CMOs and CIOs are still not seeing things equally:

Teams are not focused on the right things. The two largest gaps between marketing and IT responses in this year’s survey were: 1) the lack of agreement on strategic priorities (a 20 percentage point gap) and 2) the absence of IT resources with marketing skills (a 30 percentage point gap). To close these gaps, CMOs and CIOs must ensure that their organizations are aligned, hire people who can handle the technical needs of engaging with customers, and measure them with common goals and metrics.

 

Process has improved, but timing still lags. Since our 2011 survey, agreement between marketing and IT on joint processes has improved by 11%. But marketing wants the tools delivered yesterday, and IT’s disciplined processes often slow implementation down to below what marketing can tolerate. To resolve this disconnect and avoid marketing going rogue, IT needs to step on the accelerator and find new ways to meet marketing time-to-market needs.

 

Technology to support marketing is more dream than reality. To thrive in the age of the customer, CMOs and CIOs must collectively turn their attention to defining a marketing technology strategy that supports the business and delivers the goods — the ability to create a single view of the customer that produces actionable insights and consistent customer experiences. Working together, CMOs and CIOs can advance their standing in CEOs’ eyes by delivering a joint solution to make better use of data and analytics in the business.

 

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Joemktg's insight:

I've been scooping and writing about the conflict as well as the bridges between the CMO and the CIO. Where the hell is the CEO in all of this?

Lou Hemmer's curator insight, April 8, 2014 11:06 AM

Great article about the need for CMOs and CIOs to work closely together.

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How To Go From CMO To CEO In 6 (Not Entirely) Easy Steps - Fast Company | #TheMarketingAutomationAlert

How To Go From CMO To CEO In 6 (Not Entirely) Easy Steps - Fast Company | #TheMarketingAutomationAlert | The MarTech Digest | Scoop.it

Digest...


Sherilyn Shackell, the founder of the Marketing Academy in the U.K., believes that many CMOs are stymied when it comes to furthering their careers because they don’t appear to speak the same language as the board directors. We asked Shackell for some pointers.

-- >  Make a CEO your new best friend

-- >  Make the CFO your other new best friend

-- >  Know thyself: Shackell advises ambitious marketers to look very closely at their own personal development.

-- >  Go The Extra Mile On Book Learning: Marketers really need to bone up on areas that the board governs outside of the marketing function, such as corporate strategy, corporate finance, organizational development, operations, stakeholder management, decision-making and business law.

-- >  Look to the nonprofit sector for experience: Marketers should seek out board opportunities as a non-executive director or as a trustee.

-- >  Bonus Tip: Join The Right Company--One That Places A Premium On Brand: Companies that recognize that a large part of their market capitalization is tied up in that critical, often intangible thing called a brand are companies where marketing gurus have a better chance at the top job.

 

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Joemktg's insight:

You inherently knew this, but now it's laid all out for you. Get cracking on the book learning: it won't go to waste.

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CEOs look toward disruptive technology more than CMOs - Chief Marketing Technologist | #TheMarketingAutomationAlert

CEOs look toward disruptive technology more than CMOs - Chief Marketing Technologist | #TheMarketingAutomationAlert | The MarTech Digest | Scoop.it
CEOs have come to recognize, more than ever, that disruptive technology poses the single biggest existential threat to the future of their businesses.


Key excerpt...


Much of the rest of IBM’s report examines specific technological changes and challenges, mostly revolving around the themes of better customer experiences served through digital and hybrid digital-physical channels. As IBM’s own CEO, Virginia Rometty, says in the introduction, “Today, digitally enfranchised and empowered customers lead the agenda for every CxO profession.”

 

For CMOs, I believe this presents a clear opportunity to step-up investment in customer experience technology. It isn’t just about how technology can implement more efficient or effective marketing. It’s looking at how technology — and the tech-savvy talent necessary to leverage it — can change the playing field more significantly. Companies should pursue innovative, technology-powered capabilities to continually achieve and renew McGrath’s transient competitive advantages.

 

The big takeaway from IBM’s report for me is that the CEO is more attune than ever to such opportunities. The CMO should rise to the occasion to champion that charge forward.

 

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Joemktg's insight:

Brinker's article points to the notion that CMOs (and CIOs) look to market factors as a greater impact on the organization that technology vs. the CEOs view. But what caught my eye was the justification to spend resources on customer experience technologies, which is the first time I've noticed this outside of the industry analysts. It's important, but worthy only of investigation in 2014 for the less than monolithic organization.

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Are CEOs to Blame for Short CMO Tenures? - HBR | #TheMarketingAutomationAlert

Are CEOs to Blame for Short CMO Tenures? - HBR | #TheMarketingAutomationAlert | The MarTech Digest | Scoop.it
CEOs need to start taking ownership of their company's story, and stop passing the buck to marketing.


Key excerpt...


The vast majority of CEOs aren't taking the time to understand their story and how it relates to their products. Instead, they are continuing to separate product from story, and pushing responsibility for story down to the marketing department. By doing this, they are giving their CMOs an impossible job — marshall a story that is unfolding across the entire enterprise — product development and customer service — areas that most CMO's don't touch or can't control. Yet they are still holding the CMO responsible for results. No wonder the qualities sought in a CMO these days might be mistaken for those of a bullfighter or a test pilot. CEOs who stick with this model will struggle to keep the best marketing talent over the coming years, as more enlightened competitors poach the most ambitious marketing stars and empower them to quarterback the story across the whole organization.

Joemktg's insight:

It could be one reason why CMO tenures are relatively short. But I think the root of the short tenure has been the historical lack of measurability associated with actions taken by the CMO. However, with the advent of marketing technology, analytics and measurements directly related to objectives are proof points that will elongate the tenure of the CMO.


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