Setting shared goals and accountability would be possible if there is a successful collaboration between the marketing and IT teams.
Companies can take advantage of emerging technologies and access their customers on new platforms if their CMOs and CIOs work in sync. The latest Adobe study has revealed the top priorities for CIOs as well as CMOs, to achieve that sync.
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As per the study, 64% of CIOs focus on pushing their digital transformation agenda, while 34% are more keen on the launch of new products and services. The study titled “Key takeaways from the evolving CIO-CMO relationship” revealed that only 6% are focusing on transform sales and marketing practices to enhance the customer experience.
Marketing and IT teams are too involved in their own department’s performance, which affects innovation and also curbs better customer experiences, found the study. The study added that both departments need to prioritize customer-centricity. There are three crucial ways in which the CMO-CIO relationship can drive businesses.
Leverage the True value of data
A large number of companies collect data from more sources; however, they struggle when it comes to consolidating this information and capitalizing on their advantage. The Adobe study said that over 40% of CMOs agreed that their data is siloed. Hence, this is where CIOs need to step in and assist marketers in understanding and connecting data across the business.
According to the study, 47% of CIOs believe that their businesses have access to data in large quantities; however, trusting the credibility and quality of this information is still an issue. With access to new-age technologies, brands find it easier to break down data silos and shift information between their internal systems.
For example, organizations can standardize their data on a standard format and create a central profile for each customer thanks to the ODI initiative between Adobe, Microsoft, and SAP.
Marketing evolution for GDPR
The study reveals that just 11% of CIOs worry about not having the people or processes in place to remain compliant with GDPR. On the other hand, 45% of CMOs said this issue is worrisome.
As customer data plays a significant role in successful branding and marketing, both CMOs and CIOs need to work closely together to ensure their compliance is in order – for issues like GDPR, while also delivering experiences that respect customers’ needs.
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Focus on upcoming technologies like AI
CMOs and CIOs seem to be working in tandem when it comes to IT. The study says, 40% of marketing decision-makers are looking forward to increasing their spending on automation, AI, and ML.
On the other hand, 50% of IT decision-makers aim to increase their investment in workflow automation and customer experience technologies.
Although the leaders from both the departments agree on prioritizing technological innovation, 25% of marketers said they see themselves working with IT to get the data they need for their analytics initiatives.
The study concluded saying 35% of CIOs plan to help CMOs map their companies’ technology infrastructure and obtain the right applications to meet their requirements.
It’s time CMOs and CIOs adopt common working practices that reflect their increasingly common goals.
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