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Technology and customer data access have become the essential enablers of marketing effectiveness, creating more adaptive, intelligent marketing organizations and more responsive, customer experience-centered corporate cultures. Today’s savvy CEO is seeing the critical need to better align, leverage and mesh IT groups, database repositories and digital infrastructures with marketing functions and assets worldwide.
Owning customer insight has become the new mission and mandate of the CIO (in effect, the Chief Insight Officer) as they strive to integrate and extract value from disparate data sources inside and outside the organization. Employing digital marketing platforms, advanced analytics and predictive modeling, CIOs are helping marketers better target and access market segments; improve response, retention and revenue streams; as well as deliver more required and desired products and service experiences. New social network, mobile media and Internet content delivery channels are becoming key determinants of customer voice, affinity and advocacy, requiring new strategies, talents and resources in both marketing and IT organizations.
As leading change agents, the CMO and CIO have to be tightly coupled in the journey to optimize customer lifetime value through more personal, timely, targeted and engaging interactions with diverse audiences. The ultimate objective is “customer relevance,” a state of being that makes brands robust, resilient and highly valued in the market.
Big Data's Biggest Role, Aligning the CMO & CIO: Greater Partnership Drives Enterprise-Wide Customer Centricity
Discussions about the dynamic between chief marketing officer and chief information officer have often centered around the technologies being implemented in this age of digital engagement. However, as organizations realize the importance of delivering on a more customer-centric overall business s... Report Details
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Richard Smith, SVP & Chief Marketing Officer, AIG Bank Jeff Palm, CIO, Allianz Life Insurance Nancy Jones, CMO, Allianz Life Insurance Patrick Blair, Chief Marketing Officer, Amerigroup TJ Graven, CIO, Brown-Forman Paul Kadin, EVP, Customer Strategy - Consumer Banking, Citi Jeff Brown, Chief Marketing Officer, Colonial Life Insurance Tracy Nolan, SVP & CIO, Commercial Metals Company Larry Godec, SVP & CIO, First American Financial Deborah Colby, VP of Marketing, First Tech Federal Credit Union Nicholas Caffentzis, GM Strategic Alliances, GE Heathcare IT Stuart Foster, VP of Marketing, Hilton Worldwide Ian Arthur, Chief Marketing Officer, Intrawest Haden Land, CTO/VP IT, Lockheed Martin Lanet McCrary, VP of Marketing, Magnolia Federal Credit Union Adriana Eiriz, Chief Marketing Officer, Nexxo Financial Corporation Robert Solomon, SVP & Chief Marketing Officer, Outrigger Hotels & Resorts Karen Larrimer, Chief Marketing Officer, PNC Financial Services Jane Stackpole, Head of Market Strategy, Silicon Valley Bank Bruce Schachne, VP, Head of Marketing, Standard & Poor’s New York Michael Babikian, Chief Marketing Officer, Transamerica Insurance & Investment Robin Korman, SVP, Loyalty Marketing and Strategic Partnerships, Wyndham Hotels Group |
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Research Objective: Provide education, insights and actionable guidance on how to make “customer-centricity” the centerpiece of the CMO-CIO relationship.
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Big Data's Biggest Role, Aligning the CMO & CIO
Date: April 04, 2013 Featured Speaker: Wilson Raj, Global Customer Intelligence Director (SAS); Liz Miller, VP of Marketing Programs & Operations (CMO Council) According to the CMO Council’s latest study, titled “Big Data’s Biggest Role,” both marketing and IT both believe that customer centricity must start with a corporate culture that focuses all strategies and programs around the needs of the customer. It is clear that both CMO and CIO see data – or more specifically big data’s role in delivering deep insights, understanding and intelligence about customers, markets and operational efficiencies – as critical to success. Yet, more often than not, marketing and IT are pitted against one another, struggling to partner on priority projects. As brands look to optimize customer lifetime value through more personal timely, targeted and engaging interactions, customer data will bind together the CMO and CIO. Watch the webinar on-demand here >> |
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When CMOs and CIOs were asked to rate the importance of digital marketing to the organization, both agreed (40 percent marketing; 38 percent IT) that technology now underpins and shapes the entire customer experience. CMO Council The vast majority of marketers see the CMO as a primary leader (69 percent) and only rarely consider the CIO and IT department (19 percent) important to defining digital marketing strategy. IT executives, on the other hand, most often point to themselves (58 percent) as the true champions of digital marketing, although they do frequently cite the CMO (51 percent) as well. CMO Council Only 27 percent of marketers, and an equal number of IT executives, agree with the statement “we know what we need to know about customer’s usage of our digital channels.” CMO Council Technology ranks as the No. 1 area in which they [CMOs] see the greatest opportunity to improve. Forrester & Heidrick & Struggles Around 38 percent of CIO respondents said that they lack support from other executives, especially in companies with revenues of over US$1 billion. Ernst & Young IT leaders give their relationship with marketing weak marks (29%) than for any other business area. InformationWeek Only 17 percent of CIOs are counted among the top management group, and just 43 percent of people in that role are involved in executive decision making. Ernst & Young 60 percent of CIOs think that they add strong value to their companies, only 35 percent of their executive peers agree. Ernst & Young By 2017 the CMO will Spend More on IT Than the CIO. Gartner Although just 10% of CIO respondents consider social media essential, 41% said it will be, in the future. InformationWeek According to a recent survey, only 2% of companies have a fully integrated approach to service management; more than 75% are not integrated at all or only partially integrated. CIO.com A study, which included 400 North American IT decision makers—from those that owned the budgets to those that made the final purchase decisions—found that 73% have engaged with IT vendors on a social network. Moreover, 59% of IT decision makers “rely” on the social networks for purchasing decisions, whereas 46% use online periodicals. Direct Marketing |
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Driving Revenue Through Customer Relevance - CMO Council IT in Search of Integrated Service Management - FrontRange CIOs Leading the Way a Discussion on Transforming IT - Service-now.com |
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Web Analytics 2.0: The Art of Online Accountability and Science of Customer Centricity |
