Chief information officers (CIOs) and chief marketing officers (CMOs) are failing to collaborate and putting marketing strategies at risk, according to research by Accenture.
CIOs are increasingly sharing IT budgets with CMOs as customers interact with businesses online, but there are major differences of opinion between the two groups.
A massive 90% of senior marketing and IT executives believed collaboration between CIOs and CMOs is not at the level it should be.
A Singh, at KPMG India, said decision makers face a variety of challenges when collaborating, ranging from a lack of trust to differing business goals. “These issues must be resolved to turn a company’s digital marketing capabilities into a platform for market differentiation, business growth, and profitability.”
The Accenture global research, of 400 senior marketing and 250 IT executives, revealed that only 10% of the believe that co-ordination between the two sectors is at the right level
While the two sections agree they need to co-ordinate to gain better knowledge about the nature of the market and the demand of the customers, that is where the concurrence ends. The marketing head maintains that the primal reason for collaboration with technology is better understanding of customer behavior whereas the CIOs insist that their main cause for cooperation is ensuring customer satisfaction by improving their experiences.
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“The CMO and CIO continue to work in silos, but now more than ever bridging the gap between those two organizations is critical for success,” says Brian Whipple, global managing director of Accenture Interactive.
A Chatterjee at Citibank in Bangalore said: “Greater collaboration between the two major sectors of marketing and IT would see both the company as well as the customers benefiting.” He added that the research findings ring true. “Current sentiment echoes the realistic gap that is very evidently present within a corporate house.”
The survey revealed that 36% of the CMOs do not think IT delivers what the market demands and 46% of CIOs report that they are not given adequately detailed information by the marketing section.
There is also a major difference of opinion on future plans. Almost a two-third majority (61%) think that the company that they work for is adequately equipped to move a step higher in embracing the technological and digital future. But only 49% of CMOs agree with the CIOs.
Singh at KPMG said this disconnect must be addressed if the two groups are to work better together. “Better recognition and realisation of the others’ capacity will help improve collaboration.”