CMOs and CIOs are working closer due to the pandemic

What did the study find?

• Hybrid commerce is the perfect way to ignite chief marketing officer/chief information officer collaboration as, despite strong e-commerce growth accelerated by the pandemic, physical stores will continue to capture most retail sales, including 72% of all US retail sales in 2024.

• More than 20% of the marketing budget is used for technology and one-third of marketing organizations already have a dedicated technology team. Preparing for a data-deprecated future is an ideal opportunity for the chief marketing officer and chief information officer to redefine a joint agenda on the convergence of martech and adtech.

• Some companies prefer to create new subsidiaries to accelerate innovation, launch new offerings and products, or enter adjacent markets. This is the perfect opportunity to establish a new collaboration model between marketing and technology teams.

• Environmental, social and governance (ESG) issues offer another opportunity for chief marketing officers and chief information officers to collaborate as chief marketers are more likely to see greater ESG opportunities.

• This is because they work with external stakeholders and analyze societal changes, and understand that ESG is part of the next wave of business transformation alongside digital transformation.

• They will take the lead in developing supply chain and logistics transparency; enabling the traceability of raw materials and ingredients; reducing the company’s carbon footprint through ‘green IT’ and ‘IT for green’ initiatives; and supporting out-of-the-box sustainable innovation based on eco-friendly designs and disruptive technologies.