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CMOs and CIOs are working closer due to the pandemic

Hybrid commerce is the perfect way to ignite CMO/CIO collaboration

The Covid-19 pandemic has forced marketing and IT to work together, shrinking the collaboration gap.

It has also revealed new opportunities for chief marketing officers and chief information officers to align their teams to accelerate digital transformation, especially around hybrid commerce, according to a Forrester study.

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.

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