Chief marketing officers should aim to liaise and collaborate with chief information officers to increase agility and drive profitability, according to a new study of “top-tier” companies released by consulting enterprise Infosys.
With core marketing and IT processes becoming more closely intertwined with each passing year, the new research highlights how companies can leverage the interplay between CMOs and CIOs to deliver success.
Of the large corporations featured in the survey, 44% said that they believe that a collaborative relationship between CMOs and CIOs can deliver a 5% uptick in profits, with some scenarios even exceeding that figure.
The study noted that marketing and IT are central to many digital transformation schemes and that aligning the two disciplines can empower a business to create a more adaptable and resilient work culture and infrastructure.
More specifically, a close CMO and CIO collaboration can be a “force multiplier” that can boost revenue and digital maturity significantly.
83% of senior executives also “strongly agree” that greater collaboration makes it easier to map and align strategies and campaigns with business needs.
Bringing marketing and IT together should therefore lead to greater levels of digital maturity, which is crucial in today’s age of online connections and transactions.
The COVID-19 pandemic has been a catalyst for the increased interplay between CMOs and CIOs this year and is expected to shape marketing campaigns heading into 2021.
“The pandemic has not only altered the way engagement is viewed across every touch point, but it has also accelerated digital transformation, creating a need for relevant and personalized experiences,” Infosys CMO Sumit Virmani said in a statement.
The study claimed that CMOs are better placed to deliver on a “human experience” that goes beyond the customer experience (CX) of old.
Respondents believe that the human experience (HX) will eventually replace CX and take centre stage in marketing.