As a marketing professional employed by a tax technology company, the articles Cutting across the CMO-CIO divide and What Web 2.0 is (and isn’t) read in class, in my opinion, complement each other as I continue to develop an understanding as to why my company operates as it does.
In one of my previous posts, I touched on the opinion that Web 3.0 is happening now and Web 4.0 is not far off into the distance. Because technology is evolving so quickly, I find that it is important, now more than ever, for the CMO and CIO to be on the same page.
All of this is ivital, but back to my personal scenario. My company has been in the market close to 40 years now and just this year, in May to be exact, upper management decided to hire our first CMO. When I joined the company four years ago, I had wondered why that role was empty. It appeared to me that there was more focus on the technology itself as opposed to the marketing of the technology.
Our main competitor is a marketing machine and they do a way better job in this area of business. We are now struggling to play catch up and very precisely monitor via social media how they are using tactics to dominate their brand in the market.
When I attend conferences, most prospects have already heard of our competitor, so we have come up with differentiators to help us compete in the market because even though we have been in the market for 40 years, our competitor has only been in the space half as long. Our foundation was built around the technology and this is where we spent most of our money. Our competitor did the opposite, they spent much of their money on marketing.
This circles back to my original thought: How will Web 3.0 cut across the CMO-CIO divide? I am happy that our new CMO is here and working with the CIO but when will we reap these benefits of collaboration? There are many things to consider: opinions on where money should be spent and how much, improving the links between marketing, sales, and our channel group all while maintaining our customer data, brand assets and trademarks. As technology evolves, ways of marketing to the consumer change…
Are we too late? Or is this a “better late than never” scenario with the new addition of our CMO?