CIOs struggling to meet information demands of CMOs

Marketing analytics and optimisation tools may be the answer

CIOs are struggling the meet the data demands of chief marketing officers (CMOs) who are hungry for fast access to a lot of information, according to Tristan Sternson, managing director at Melbourne-based information management consultancy InfoReady.

Unlike chief financial officers (CFOs) who have “precise requirements”, CMOs need to slice and dice information and the financial results from marketing programs created from their data analysis are often unknown.

“The solutions [CMOs] need are very integrated, IT don’t get it,” Sternson told CIO Australia. “A CMO doesn’t care about 100 per cent accuracy of data – they care about 80 per cent or that 300 out of 700 puzzle pieces, they want to know roughly what they can do.

"If they market to someone, it’s not like a financial report – if you get it wrong one in a hundred [times], if 99 of them are right, then it’s a fantastic [result].”

Sternson said that up until recently, “there has been nothing out there that enables the CMO to ‘self-serve’ or gain instant access to the information they need to create successful marketing programs".

New marketing analytics and optimisation tools enable CMOs to cost-effectively analyse data and develop programs to acquire and retain customers and realise an increase in revenue.

“Once they can do this, marketing becomes very time-dependent, they want to deliver things quickly but need to play with the data a lot more,” he said.

“CIOs love [these tools] because they haven’t been able to deliver to CMOs in the past.

“They [CMOs] can’t really say, ‘I need this specific product and I need you to build it for me’ like the CFO does.

“The CFO or finance department creates a report once daily, [they] use it get on with business. Marketing guys [want] to play around with [data], and they need someone to help them do that."

Related: Why CIOs need to get to know their CMOs.

Understandably, CIOs will never comprehend the business of marketing products and services as well as CMOs do and that’s where the ‘disconnect’ occurs.

But if the CIO can introduce technology that gives power to the marketers and enables them to get more throughput, this represents a huge shift thinking around how CIOs and CMOs can collaborate, Sternson said.

Follow CIO Australia on Twitter and Like us on Facebook… Twitter: @CIO_Australia, Facebook: CIO Australia, or take part in the CIO conversation on LinkedIn: CIO Australia

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

Building a human-curated brand

If the FANG (Facebook, Amazon, Netflix, Google) sector and their measured worth are the final argument for the successful 21st Century model, then they are beyond reproach. Fine-tuning masses of algorithms to reduce human touchpoints and deliver wild returns to investors—all with workforces infinitesimally small compared to the giants of the 20th Century—has been proven out.

Will Smith

Co-founder and head of new markets, The Plum Guide

Sustainability trends brands can expect in 2020

​Marketers have made strides this year in sustainability with the number of brands rallying behind the Not Business As Usual alliance for action against climate change being a sign of the times. While sustainability efforts have gained momentum this year, 2020 is shaping up to be the year brands are really held accountable for their work in this area.

Ben King

CSR manager & sustainability expert, Finder

The trouble with Scotty from Marketing

As a Marketer, the ‘Scotty from Marketing’ meme troubles me.

Natalie Robinson

Director of marketing and communications, Melbourne Polytechnic

It's a pretty interesting article to read. I will learn more about this company later.

Dan Bullock

40 staff and 1000 contracts affected as foodora closes its Australian operations

Read more

If you think it can benefit both consumer and seller then it would be great

Simon Bird

Why Ford is counting on the Internet of Things to drive customer engagement

Read more

It's a good idea. Customers really should control their data. Now I understand why it's important.

Elvin Huntsberry

Salesforce CMO: Modern marketers have an obligation to give customers control of their data

Read more

Instagram changes algorithms every time you get used to them. It really pisses me off. What else pisses me off? The fact that Instagram d...

Nickwood

Instagram loses the like in Australia; industry reacts positively

Read more

I tried www.analisa.io to see my Instagram Insight

Dina Rahmawati

7 marketing technology predictions for 2016

Read more

Latest Podcast

More podcasts

Sign in