IBM recently brought together almost 200 chief marketing officers and chief information officers to discuss the future of marketing at an event in New York City we called the CMO+CIO Leadership Exchange. Companies including Aetna, Motorola, WalMart, Verizon and Citi shared ideas and best practices on the future of marketing while IBM experts talked about how clients are redefining marketing and reinventing IT.
We heard why Big Data has emerged as the #1 prized asset because insights gleaned through analytics enable CMOs to make marketing more personalized — more like a welcomed service. We heard how CMOs, armed with Big Data, are influencing more decisions around product development, supply chain, acquisitions and virtually every strategic area. This shift is affecting IT spending: according to research firm Gartner, by 2017 the CMO will have greater control of the IT budget than the CIO.
There were a lot of great discussions about the evolving roles of the CMO and CIO and how they need to collaborate (check out the video below). As Travelocity founder and Kayak chairman Terry Jones told us, companies need to “tear down that wall” between marketing and IT to create better experience for customers, because that’s what it’s all about.