The CMO and CSO are dead, long live the CSMOs

In today’s digital first environment, the marketing function within businesses must be intertwined in the overall organisational strategy and can no longer operate as a siloed entity.

As customer journeys become more complex and data rich, the traditional separation between strategy and execution is inefficient and detrimental to the overall working of a business. 

A new strategic partnership needs to be forged between the Chief Strategy Officer (CSO) and the Chief Marketing Officer (CMO) in a manner that’s in sync with the overall goals of a business.

Changing the mindset from the onset

Traditionally, CSOs work to a horizon of three-to-five years to create and drive an organisation’s long-term vision, identifying new market opportunities, analysing competitive threats and formulating strategic plans for growth. Contrastingly, the CMO’s horizon is more likely one-to-three years as they lead the building of brand awareness, driving demand and managing the customer experience.

Yet, as businesses continue to drive digitalisation and adopt AI technologies, the line between the two functions is increasingly blurring.

If CMOs are typically immersed in data analysis, technology adoption and customer journey mapping, and CSOs are building deeper understanding of customer behaviours and market trends, our increasingly digital and AI enabled environment is forcing a more holistic approach, where strategy and marketing exist as two sides of the same coin.

A union that’s like no other

A true partnership, that blends a CSO’s macro-level view on market trends and competitive dynamics with a CMO’s granular, real-time insights into customer behaviour and preferences can unlock significant value across a business.

Combining these two views results in a more comprehensive and accurate understanding of the market landscape and better enable organisations to identify emerging opportunities and threats.

A blended view can also lead to a common understanding that informs strategic decisions, ensuring that marketing efforts are aligned with and driving the overall business strategy, while pursuing the most promising market segments.

As technology evolves at a rapid pace and new AI driven features emerge, CSMOs must work together to identify and adopt the technologies that will best support an organisation’s strategic goals and marketing objectives. One can provide a framework for technology adoption while the other evaluates the potential of new technologies to improve marketing effectiveness, ultimately enhancing the customer experience.

Allowing CSMOs to claim their rightful place 

Notwithstanding the benefits of CSO and CMO collaboration, there are challenges to be overcome. Namely, siloes within businesses that hinder effective communication and collaboration. There’s also a job to be done to ensure the differing priorities and objectives of align.

To overcome these challenges, businesses can foster a culture which of open communication between different parts of the organisation and introduce shared decision-making opportunities.

Establishing roles and responsibilities and clearly defining how each role contributes to the overall business strategy will become increasingly important. We’re seeing organisations developing collaborative, AI-fuelled data and analytics functions, that enable both strategy and marketing functions to share a deep and common understanding of both market and customer.

Collaboration between the strategy and marketing sides of the business is now a necessity. It’s a partnership that is fundamental to driving long-term growth, enhancing customer experiences and giving marketing teams a competitive advantage. 

Shula Sinclair is the CSO, US & Worldwide at T&P