Wonder Twin Powers, Activate: Form of the CMO/CIO Power Team
I never missed a Saturday morning with the TV show Super Friends when I was young. How cool would it be to have a super power like the Wonder Twins, Zan and Jayna? Perhaps the concept isn't that far fetched when you consider the evolving relationship between CMOs and CIOs.
Today's digital marketing eco-system has created a more informed buyer with a much higher set of expectations. In order to address the new empowered customer, CMOs are striving to gain a 360 degree view of their client--what information they want, when they want it and how they want to interact. This has become almost impossible to achieve without mining new sources of customer information. "Wonder Twin Powers Activate"....
If there was ever a time CMOs and CIOs needed super powers with the ability to decipher the vast amount of digitally created customer data, this is it.
Relatively few CMOs are exploiting the full power of digital information primarily because the tools, processes, and metrics they use are not designed to capture and evaluate the unstructured data produced by social platforms. What's even more challenging is that 90% of all data coming from digital is unstructured.
Equally interesting is that CEOs predict that social media will push past websites, call centers, and channel partners, becoming the #2 way to engage customers within the next five years, mainly at the expense of traditional media.
Wonder Twin Powers Activate...
In order for companies to understand and provide value to empowered customers, they will have to invest in new technologies to get a better grasp of how individual customers behave. Marketing needs to collaborate with IT to build innovative ways to gain access to these digital channels to capture, analyze and use customer data effectively.
There is some great news on this front: According to IBM, CIOs already have these technology-based initiatives on their radar: 83% are focused on business intelligence/ analytics; 74% on mobility solutions and 55% on social networking.
This evolution to a new, Big Data-driven digital eco-system, combined with the emergence of the empowered customer, presents tremendous opportunity for CMOs and CIOs. By collaboratively addressing digital and social media, and advanced analytics, it's possible to deliver a holistic view of the customer in real time and deliver marketing as a welcomed service, instead of an intrusion.
So what's next? Activate the CMO/CIO power team to collaborate in the C-suite so that their companies--and customers--win.
Discover more. Click to view our infographic on how businesses are using marketing and