Years ago, when the recession hit and brought the world down to its knees, CMOs nearly everywhere had to bring in cardboard cartons to work one fine day to clear away their desks and move out. With this, company CIOs were tasked with streamlining operations, tying up loose ends and curbing expenditure wherever possible. The “do more with less” philosophy was screamed out loud down corporate ladders for everyone to hear. CMOs who had been spending generously on advertising without sufficient concrete returns to show were dropped off the ship and were left marooned. Then came the year 2010, when things began to change, and the CMO found his desk again. With social media, mobile and cloud computing stepping in to save the day, digital marketing began grabbing headlines and CMOs now had a new art to dabble in.
Tables have turned and things have come a long way since the time CMOs spent sleepless nights. CMOs now are busy embracing bigger responsibilities in organizations and are in turn giving CIOs a lot to worry about.
"With the rise of marketing technology, or martech as it’s fondly known, CMOs are now the centre of attention, with more and more technology vendors targeting them specifically to sell online tools and software."
Today, a whopping 3,000 vendors sell marketing technology, and nearly all of them speak directly to CMOs, leaving CIOs out of the equation. With the number of these vendors increasing by nearly 300 annually, CIOs are slipping down corporate ranks and quite a few now report to CMOs! Take enterprise software giant Oracle for example. The company has always had undivided attention for CIOs, long since anyone can remember. Things have taken a turn lately though, with Oracle now intending to entice CMOs directly.
However, not everything’s going downhill for CIOs. As CMOs climb the corporate ladder and slip on the crown of a CEO, the spot they’ve been occupying all along is now left clear for CIOs to step in! Given the fact that marketing is now more technology-driven than it ever has been in the history of commerce, CIOs fit in like the correct bits of a simple four-piece jigsaw puzzle!
While the notion of a CIO wearing a CMO’s hat seems strange to a few, it isn’t half as far-fetched as it sounds. Folks working in these two organizational roles share more things in common than differences. This common ground includes decisiveness, efficiency and the knack to tackle problems. With cloud computing and digital promotion now playing a larger-than-life role in strategies, CIOs will no longer be strangers to marketing initiatives.
"While CMOs today do have a difficult time looking through vendors selling their marketing tools and wares, CIOs have an added advantage of making better choices, given their experience and understanding of technology."
The martech revolution has already crossed over our doorstep and has begun making its home in the world of marketing with a clear leader, the CIO. All that’s left now, is for these changes to begin trending across corporates and soon, the CMO and CIO will together evolve into masters of each other’s trade!
From MarTech Advisor