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Everyone Wins When CIOs Partner With CMOs

 
 
By Karen A. Frenkel  |  Posted 02-18-2015
 
 
 
 
 
 
 
 
 
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    Advantages of CIO-CMO Partnerships
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    Advantages of CIO-CMO Partnerships

    By 2018, CIOs who build strong relationships with CMOs will achieve a 25% improvement in return on marketing technology investments.
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    Managing Portfolio of Applications
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    Managing Portfolio of Applications

    Many large companies, particularly B2B companies, have more than 50 applications and technologies that support marketing. Managing this portfolio and generating customer value requires an integrated and consolidated approach.
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    Integrated Marketing Management Is Key
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    Integrated Marketing Management Is Key

    An integrated marketing management (IMM) approach can help IT leaders get more value from CMOs.
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    Incorporate Personalization Into Digital Commerce
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    Incorporate Personalization Into Digital Commerce

    By 2018, B2B sellers who incorporate personalization into digital commerce will achieve revenue increases of up to 15%. Personalization enhances the relationship between a buyer and seller and can make the buyer feel recognized, appreciated, respected and efficient.
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    Business Buyers
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    Business Buyers

    Consumers expect to be valued and have a personalized experience. Business buyers, who typically have long-standing relationships with suppliers and spend large amounts with them, have even higher expectations. Personalization helps sellers stay competitive and satisfy customers.
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    Personalization Increases Spending
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    Personalization Increases Spending

    Companies that incorporate personalization into B2B digital commerce will provide a better customer experience, make their customers more efficient and increase the probability of greater revenue.
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    Efficiency and Effectiveness Essential
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    Efficiency and Effectiveness Essential

    Personalization should be developed based on customer preference settings in digital commerce platforms, creating or identifying merchandise affiliation, and incorporating behavior-based learning from customers.
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    Customer's Voice
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    Customer's Voice

    Through 2018, voice-of-customer (VoC) solutions that do not share data across the enterprise will compromise customer loyalty and satisfaction by 30%. Such solutions collect, analyze and act upon customer feedback through surveying, social media and speech analytics.
 

As technology investment in marketing continues to grow and digital marketing expands, CIOs should build strong partnerships with marketing officers, according to a new report by Gartner. CIOs who help CMOs evaluate solutions, source data, manage and consolidate the application portfolio, and integrate solutions will reap the full potential of IT investments. "To generate greater business value, IT leaders need to work more closely with marketing to determine where IT leads versus where marketing leads and how both can work more effectively together," said Kimberly Collins, research vice president at Gartner. The report emphasizes the importance of voice-of-customer (VoC) initiatives that reveal useful insights regarding brand, products, campaigns, geographical markets and competitors. It cautions, however, that unless VoC is positioned across the enterprise and is part of strategic customer experience management, benefits can get stifled. The report is based on hundreds of conversations with clients on the part of co-author Collins and research directors Jim Davies and Penny Gillespie.

 
 
 
 
 
Karen A. Frenkel writes about technology and innovation and lives in New York City.

 
 
 
 
 
 

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