In this issue:
- In Our Opinion: CMO-CIO Partnership…Still Early Days
- BLOG Roundup:
- What Does It Take To Be A Winning CMO?
- MarketingEDGE Holds Successful 2014 Annual Awards Dinner
- DMA2014 Has A Magic Opening
- Special Announcements:
- Helen Nowicka –Managing Director, Business Development – Social & Mobile at MXM
- Career Opportunities:
- VP, Individual Digital Experience – Global Financial Services
- VP, Digital Experience – Group Insurance – Global Financial Services
In Our Opinion by Jeff Gundersen & Lola White
CMO-CIO Partnership…Still Early Days
The CMO-CIO partnership is one of the hottest topics today, but is this a marriage made in heaven or a shotgun wedding? It’s clear these two C-suite roles are coming together especially since CMOs are forecasted to have larger future technology budgets than many CIOs. But how is this relatively new partnership working today? What are the opportunities and concerns on both sides? For some of the answers we turned to our client Accenture Digital…who is building marketing technology strategies and bridges between these two important functional areas in many Fortune 100 companies.
Matt Strawn, MD – Alliance Partnerships at Accenture Digital delivered an outstanding presentation at the Strategic Summit at DMA2014…providing results from AD’s 2014 Global CMO-CIO Survey which included over 1,000 senior level marketing and technology executives in 11 countries and 10 industry sectors (automotive, banking, CPG, electronics, insurance, life sciences, media & entertainment, retail, telecommunications, and travel/hospitality). The major takeaways from this 4th annual global CMO-CIO survey included:
- CMOs are teaming with CIOs to bring a new digital vision to life in their companies.
- Enterprise-wide initiatives are unifying around improving digital customer experience.
- Integrating customer-focused skills, and new, real-time data sources, across the enterprise is a major opportunity and challenge.
- Realignment of marketing models and budgets with new marketing services is a top priority.
Instead of campaign-based marketing, clients are shifting to real-time, personalized communications with customers and prospects visiting the company’s website or shopping online for specific products and services.
However, the partnership between CMOs and CIOs is relatively new, so these are still early days and there are many challenges still to be solved and overcome including the following:
- 44% of CMOs cited problems in implementing marketing IT solutions…in other words, marketing in many instances still feels IT is under-delivering;
- 43% of CIOs feel marketing priorities shift too frequently and 25% of CIOs feel CMOs lack the vision to anticipate new digital channels;
- 35% said CEOs are driving digital transformation…45% said it is the CTO or CIO…and only 1% said CMOs are driving digital transformation.
Clearly, Accenture Digital’s survey speaks volumes that the majority of legacy CMOs are not leading digital transformation…probably since they come from the earlier era of mass marketing and big brand advertising. Not surprising to see 33% of CIOs control over 75% of marketing IT budgets…until this newest generation of digitally-savvy CMOs, their predecessors lacked the technology and digital skills so essential today.
It is essential for CMOs to raise their game and continue to find ways to collaborate and build bridges with technology partners. Many of the clients we are working with are creating task forces between marketing and technology to develop strategies and plans on improving enterprise and LOB customer experience. 77% of executives surveyed by Accenture Digital ranked this as very important…yet, less than half of CMOs feel they own customer experience…since it it shared between marketing, technology, customer service and operations. Many organizations are creating a Chief Customer Officer position to enable a single C-level executive to lead the enterprise from a product/LOB-centric to a customer-centric approach. This is requiring significant organizational change within large global organizations.
Where does your organization stand in terms the CMO-CIO partnership? Does your CMO have the technology and digital chops to lead omni-channel customer engagement and experience?
We want to know
As always, we invite you to connect with us and welcome your comments and insights.
Lola and Jeff
BLOG Roundup: Did you catch our recent blog posts?
What Does It Take To Be A Winning CMO?
It has been well-publicized that CMO tenure is one of the shortest life spans among C-level executives. With the rate of change accelerating, and many categories reaching a mature, slower growth stage, how do CMOs transition from “survive to thrive” mode. Here are some key insights to consider.
Listening to CMOs recently during Advertising Week NYC XI, it became clear the issues keeping CMOs up at night include (1) keeping up with the pace of (consumers) changing behaviors; (2) the rapid transition of marketing to digital and mobile channels; (3) required investments in new marketing technologies; (4) delivering exceptional customer experience in an omni-channel world; and (5) finding the new (organization) talent required…the needs are significant and expensive.
MarketingEDGE Holds Successful 2014 Annual Awards Dinner
As a Board Trustee, I was proud to attend the MarketingEDGE (www.marketingEDGE.org) 2014 Annual Awards Dinner held Oct. 25th at the US Grant Hotel in San Diego.
The mission of this non-profit organization is to Educate, Develop, Grow and Employ college students in the field of marketing…and as MarketingEDGE approaches its 50th year anniversary (in 2016)…support could not be higher from its 3 constituents…students, educators, and employers.
This year’s annual dinner raised over $600,000 to support EDGE’s ongoing student programs including scholarships, one-day student forums, one-week data-analytics and digital bootcamps, summer internships, and job placements.
DMA2014 Has A Magic Opening
DMA2014 needed a spark to ignite some passion into attendees at the annual conference held this week (Oct. 27-29th) at the San Diego Convention Center. DMA got that and more from keynote speaker Earvin “Magic” Johnson, 5- time NBA champion, NCAA champion, and successful business entrepreneur.
Magic lit up the crowd, much as he did years earlier playing for the LA Lakers at the Forum, with his big smile and warm, winning personality. And Magic’s message went way beyond his sports career and basketball successes. Many were surprised to learn Magic Johnson Enterprises has partnered with over 20 corporations, including Allstate, Delta, Disney, Sony Theaters, Starbucks, and Toyota…building businesses serving Urban American consumers.
Special Announcements
Helen Nowicka, Managing Director, Business Development – Social & Mobile at MXM
We are excited to announce Helen Nowicka has joined Meredith Xcelerated Marketing (“MXM”) as Managing Director, Business Development – Social & Mobile. Helen will be based in MXM’s Alexandria VA office and focus her efforts on developing new business across MXM’s Social and Mobile practice areas. Helen will report directly to Rich Berenson, SVP & Chief Business Development Officer.
Helen has a great diverse background for this role having worked in PR, Digital and Social marketing, most recently as EVP, Digital at Porter Novelli in DC. Helen began her career in London where she started the first Social Media practice within a PR & Communication agency in the UK.
Executive Connections LLC handled this search assignment on an exclusive basis for MXM.
Career Opportunities
VP, Individual Digital Experience – Global Financial Services
The VP, Individual Digital Experience is a senior level, cross-business leader accountable for collaboratively defining and designing digital experience for Individual constituent types. Constituent types include investors, participants, policyholders, beneficiaries and other individual consumers. The successful candidate will lead diverse, internal, matrix teams, including third-party consultants, to develop competitive web, social and mobile engagement channels across our Client’s portfolio of businesses and corporate functions, including brand, advertising, thought leadership, market research, communications, information technology and digital solutions, ensuring that the Individual’s critical cross channel needs are addressed throughout their customer life cycle.
VP, Digital Experience – Group Insurance Division
This VP, Digital Experience – Group Insurance position is located in the NY metro area and we are focusing on identifying qualified candidates with 10+ years of digital experience in the insurance and/or financial services (banking, credit card, brokerage) sectors. B2C and B2B digital strategy and marketing experience are essential and, in addition, this individual will be a digital thought leader able to influence senior leaders and support them to accomplish business goals through development of innovative digital solutions.
As this is a new position within the Group Insurance Division, reporting to the SVP, Strategy & Chief Marketing Officer, this individual will be a team builder and leader of a team focused on designing and executing digital marketing and customer experience strategies and programs. The CMO is a long-term EC client, a terrific marketing and business leader, so this is truly a great career opportunity to partner and work with a high-performing CMO in an exciting business opportunity.
This role will also have considerable matrix interface and coordination with enterprise-wide digital and customer experience initiatives.