In the second of our CMO insights series on digital strategy, we ask former CommBank CMO Andy Lark on whether he supports a CDO role
In the second of CMO’s new series looking into what three marketing and digital chiefs think about a key topic or trend influencing their business performance, we ask the former CMO of Commonwealth Bank and highly experienced marketer, Andy Lark to answer the following question:
Should CMOs own digital strategy and delivery?
Digital as a business is not a marketing function - although based on the background of the CMO, it might make sense to have them run it. Digital marketing, however, both for digital and physical products or channels, is a marketing function. Today, the rise of importance of digital channels - and the emergence of digital as the business - requires most organisations build a digital capability, unified, under a chief digital officer (CDO).
Digital platforms and technology should be delivered through the IT capability, but the overall digital business and products shouldn't be. Remember: The CDO role is only part technology; it is also supply chain, pricing, service delivery, product, merchandising and more. Digital requires focus, and committed leadership will drive its success. Non committed or dispersed leadership will result in digital islands of efficiency.
Ultimately, CEOs have the responsibility for digital delivery and always have. The challenge today is a large number of marketers don’t report to CEOs, nor do CDOs. As a result, neither are a priority. They are run and optimised as part of something else, such as operations or business channel management for instance.
So long as they continue to be optimised as part of something else, you will have sub-optimal solutions that don't recognise digital as how the customer engages. There is nothing more important than meeting and serving the customer digitally.
CMOs talk digital delivery part 1: The Co-op's Greg Smith
Most CMOs have a great understanding of the role of digital in customer relationships and marketing communications and are working bloody hard to raise awareness of the importance of digital.
CMOs must be the change agent they want to exist in their business. In short, be digital. Show people the power of digital; arm your teams with leading-edge devices and technology. Then invest at the edge, and invest in niche ideas with potential to scale. Encourage your digital natives to experiment and ideate.
More on Andy Lark
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Our multi-part video series, Ready to Launch, is focused on unlocking the secrets of launching brands, products and services by exploring real-life examples from Australia’s marketing elite. The series is being produced as part of the Launch Marketing Council initiative by CMO in conjunction with independent agency, Five by Five Global.
For some CMOs, it’s easy to feel alone in the undying quest to better serve the customer. At times, it feels like the marketing department and the boards are speaking a different language, with one side trying to serve the customer, and the other side more focused on the shareholders and financials.
When I talk to organisations around the world about their customer experience strategy, it is often the CMOs and their marketing teams who take the lead. They’re keen to improve the ways they attract and engage customers, and they want to understand the technologies that can help them make their customer experience truly outstanding.
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