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

Latest Videos

More Videos

yes AI should be a course so many People Use AI https://g-techsolutions.com...

M Abdullah Khan

Is AI on course to take over human creativity? - Modern creative - CMO Australia

Read more

Extremely informative. One should definitely go through the blog in order to know different aspects of the top retail technology.

Pooja Gupta

Donut King takes in-store marketing to the next digital level

Read more

this is very benefit for us we can through all the thing in this and its very benefit for city personhttps://g-techsolutions.com...

M Abdullah Khan

What does the Oculus Rift launch mean for marketers?

Read more

as we all known AI is very spread and alot of companies used ai and we take alot of work from AI https://g-techsolutions.com...

M Abdullah Khan

Making sense artificial intelligence - Food for thought - CMO Australia

Read more

virtual marketing have as much benefits as also disadvantageshttps://g-techsolutions.com...

M Abdullah Khan

The ethical debate facing marketers around virtual reality - Data-driven marketing - CMO Australia

Read more

Blog Posts

Brand storytelling lessons from Singapore’s iconic Fullerton hotel

In early 2020, I had the pleasure of staying at the newly opened Fullerton Hotel in Sydney. It was on this trip I first became aware of the Fullerton’s commitment to brand storytelling.

Gabrielle Dolan

Business storytelling leader

You’re doing it wrong: Emotion doesn’t mean emotional

If you’ve been around advertising long enough, you’ve probably seen (or written) a slide which says: “They won’t remember what you say, they’ll remember how you made them feel.” But it’s wrong. Our understanding of how emotion is used in advertising has been ill informed and poorly applied.

Zac Martin

Senior planner, Ogilvy Melbourne

Why does brand execution often kill creativity?

The launch of a new brand, or indeed a rebrand, is a transformation to be greeted with fanfare. So why is it that once the brand has launched, the brand execution phase can also be the moment at which you kill its creativity?

Rich Curtis

CEO, FutureBrand A/NZ

Sign in