CMOs and CIOs to play greater strategic planning role
An adaptive business moves with the times, meets new goals and evolves to find new ways to operate and deliver its corporate strategy.
As businesses set themselves up for the new year, some will be thinking about how their plans are managed and executed. One new trend that is tipped to develop in 2015 is the role of chief marketing officers (CMOs) and chief information officers (CIOs) in relation to strategic planning.
According to Cliff Condon, director of research strategy and innovation at Forrester Research and writer on the company’s site, organizations will rely on these two types of professional more readily for making sure they develop strategies with the customer in mind.
“In my role as chief research officer, one thing is now clear to me: The two roles that matter most for 2015 are the CIO and the CMO – their relationship and joint strategy to boost the business will determine the future of any corporation,” he explained this month.
“CMOs historically focused narrowly on marketing and promotion. That’s not enough in the age of the customer. The CMO of 2015 must own the most important driver of business success – the customer experience – and represent the customer’s perspective in corporate strategy.”
The developing role of CMOs and CIOs in strategy execution is encouraged by research into how employees perceive these executives. Respect is on the rise, a Forrester study shows, with 68 per cent of technology management and 62 per cent of marketing departments agreeing that CIOs and CMOs enjoy a mutual trust.
However, collaboration could be improved. Only 57 per cent of technology management departments and 47 per cent of marketing divisions say CIOs and CMOs develop a strategy together before allocating budget.
By using business management software, the lines of communication can be opened between CIOs, CMOs and the company as a whole, meaning a strategy can be planned and delivered with greater efficiency.