When companies want innovation, they’re more likely to look to the CMO than the CIO, according to a new study by CEB. This shift comes as Chief Marketing Officers are given a larger piece of the IT budget to invest in tools such as marketing automation software. David Weldon explained the study results in a recent piece on Fierce CIO, including the idea that CIOs should become mentors for CMOs to help spend the IT budget as effectively as possible.
“Because technology and digitization are so important, we will see more and more innovative ideas come from other parts of the business,” CEB managing director Andrew Horne was quoted as saying. “The idea that CIOs and chief digital officers will be the source of innovation does not make sense.”
The CEB study advises CIOs to work as coaches and mentors with other business leaders, especially the CMO, who are now spending the largest portion of technology dollars outside of IT. The study also offers five myths about the CIO-CMO relationship:
- CMOs want to own large-scale IT spend
- CMOs will soon outspend CIOs on IT
- The CMO-CIO relationship needs fixing
- IT should get involved in digital projects before other parts of the business
- Better risk communication will drive compliance
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