The Dynamic Duo of the Enterprise
By Mike Stiles on Jun 07, 2013
No, I’m not talking about Kirk and Spock. The Dynamic Duo of the enterprise is the CMO and CIO. No positions are evolving more or faster, brought on by the perfect storm of social, mobile, and data. To triumph, the CMO and CIO must partner as never before.
In the AdAge webcast, “Capitalizing on Marketing & Technology: Social’s Powerful Impact on People, Processes & Technology,” Oracle VP Product Strategy Erika Brookes and Forrester VP & Practice Leader David Cooperstein discussed how changes to these two positions are altering the entire organization’s structure and operations.
Social changed communication. It’s how people now interact, get informed, express themselves, and connect to brands. Facebook has a billion users, Twitter over 200 million, Pinterest over 50 million and Instagram over 100 million. Since 2010, social site visitors went from 58 to 70%. 45% Liked, followed or became a fan of a brand, with the average Facebook user Liking 9 of them.
The 2nd revolution, the shift to mobile, is happening quickly and right now. By the end of the year, there’ll be more mobile devices than people. Mobile is at 55% penetration in the US. More time is spent on smartphones than is spent online. And 55% of social consumption happens on mobile.
So, technology is how marketing is executed. And marketing/CX are technology’s key raisons d’etre. That’s why the enterprise needs heroes, the Dynamic Duo of the CIO and CMO working in tandem, each bringing their unique strengths. Our Dynamic Duo has to go up against:
POW! The Data
80% of data is unstructured and is literally growing by the second. Emails, blogs, Facebook posts, tweets, pictures, videos, online purchases, customer inquiries…all trying to teach us what our customer wants, if we’d just listen. In 2012, 2.5 quintillion bytes of data were created daily. That’s a 1 with 18 zeros after it.
Time to flash the “C-signal” into the night sky, calling on our Dynamic Duo to determine what data is relevant and actionable, institute systems to gather and process that data, and integrate that data holistically across the enterprise to every customer touch point. They should be fighting for a better “customer-centric” tomorrow, where data leads to exceptional products and flawless customer experiences.
BAM! Internal Disruption
Marketing and technology are converging, a trend that will become the new “normal” in just a few years. In October 2012, Oracle & the Economist released the survey “Cultivating Business-led Innovation,” which found companies with cross-collaboration, taking advantage of disruptive technologies, are the most successful.
Who should instigate these organizational changes? In a perfect world, CEO’s recognize the disruption and see the opportunities therein. Some companies have named Chief Digital Officers. It might stick, or it might be a transitional role given how fundamental “digital” is to business (like having a Chief Copy Machine Officer). Others suggest the formation of a Marketing Technology Office (MTO).
Aside from technology, there are cultural changes wherein roles and habits long and comfortably held get upended. The CIO must understand the speed of marketing is different than the speed of tech maintenance. The CMO must understand tech, period. It can no longer be “those guys in the other department.”
BOP! Social ROI
Ever get the feeling social is held to a higher ROI accountability than many other marketing channels? That’s because it often is. Some use it as an excuse not to deal with the very real changes we’re seeing. At Oracle, we socially enable enterprises such that social is not just a marketing channel, it’s integrated throughout the organization both externally (customers) and internally (employee collaboration).
On the marketing side, perhaps it’s more realistic (and fair) to measure social ROI on whether users were moved to the next step, not necessarily straight to the cash register. Remember that bit about data leading to exceptional products and flawless customer experiences? That’s the kind of thing that should kick the ROI question to the curb.
So cheer on our Dynamic Duo, for they are agents of some of the biggest, fastest changes in business the world has ever seen.
Photo: Julien Tromeur, stock.xchng