CMOs and CIOs: Teaming Up to Tackle the 'Big Data' Storm
Historically, CMOs and CIOs have worked in their own silos, each setting goals and optimizing results in their own languages and with their own tools. But, in our world of Big Data, catalyzed by empowered customers with greater demands, CMOs and CIOs are realizing they must partner to address the challenges and opportunities ahead.
In our IBM Global CMO Study, "From Stretched to Strengthened," CMOs told us they are unprepared to face the very challenges that they consider most critical to their future success: data explosion, social media, channel and device choices, and shifting customer demographics. This gap was underscored by their CEOs in the IBM Global CEO Study, "Leading Through Connections," who are pushing their organizations to become customer-centric. Changing customer demands are fueling the need for marketers to know and serve the individual customer. This requires systems of engagement that provide value at every touch, informed by data that provides such a complete view of the customer that marketing feels like a service.
This innovative system of engagement needs employees who are enabled through an authentic brand and culture. The paradox is that many CMOs do not feel prepared to lead and acknowledge skills gaps on their teams to tackle these challenges - yet the skills, technology and data all exist today. In our IBM Global CIO Study, "The Essential CIO," CIOs said they are committed to extract greater value from data and drive better real-time decisions. The challenge is how different parts of the organization team to address the gaps.
These new systems of engagement that CMOs are seeking to build represent a perfect storm of social, mobile, cloud and a lot (a very lot) of data served up seamlessly. We found that those CMOs who are successfully attacking skills gaps are doing so by partnering with their CIO counterparts. Some 51% of high-performing companies report that their marketing and IT departments have formed tight-knit relationships--10% higher than other companies. These successful companies are working together to set a shared agenda to address changing customer expectations and establish a roadmap of short-term projects that provide visible and measurable return along the transformation. They share governance, skills, language and outcomes. They have the mandate and feel prepared through their collaboration and culture of hypothesis, test, refine, scale. In short, they are empowered to transform to serve an empowered customer.
Power was in the silo. Power is now in the partnership.