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The Rise of the Chief Digital Officer in 2015

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From CDO to CEO:
What’s Driving the Chief Digital Officer to CEO Carer Path?
For fast-growing companies, the Chief Digital Oficer is emerging as the new “it” positon. Gartner predicts that 25% of busineses wil have a CDO by 2015.

Published in: Internet
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The Rise of the Chief Digital Officer in 2015

  1. 1. The Digital Business revolution & the rise of the Chief Digital Officer
  2. 2. From CDO to CEO: What’s Driving the Chief Digital Officer to CEO Career Path?
  3. 3. For fast-growing companies, the Chief Digital Officer is emerging as the new “it” position. Gartner predicts that 25% of businesses will have a CDO by 2015. Gartner For fast-growing companies, the Chief Digital Officer is emerging as the new “it” position. Gartner predicts that 25% of businesses will have a CDO by 2015. Gartner
  4. 4. Here’s why
  5. 5. 70% of all U.S. car buyers research new and used car purchases online, an average of 18 hours per person (source: Polk). 90% of people trust recommendations over advertising in deciding what to purchase (source: Nielsen). 2,010,000 – the number of sites that result from a Google search on “toothbrush prices.” The business world has changed 70% of all U.S. car buyers research new and used car purchases online, an average of 18 hours per person (source: Polk). 90% of people trust recommendations over advertising in deciding what to purchase (source: Nielsen). 2,010,000 – the number of sites that result from a Google search on “toothbrush prices.”
  6. 6. Digital marketing has created a survival of the fittest & fastest business model change across all industries. Professional services firms are losing clients to competitors who out-network them via LinkedIn. Traditional manufacturers who used to rely upon distributors to handle customer communication, now have to deal directly with online customer complaints and with their competitors talking directly to consumers. Retail businesses have to fight for new visits every single day, every single minute on search engines and in social media. B2B, B2C industries alike have to fundamentally change how they interact with customers because of digital marketing. Your Industry’s Business Model is Changing Digital marketing has created a survival of the fittest & fastest business model change across all industries. Professional services firms are losing clients to competitors who out-network them via LinkedIn. Traditional manufacturers who used to rely upon distributors to handle customer communication, now have to deal directly with online customer complaints and with their competitors talking directly to consumers. Retail businesses have to fight for new visits every single day, every single minute on search engines and in social media. B2B, B2C industries alike have to fundamentally change how they interact with customers because of digital marketing.
  7. 7. Example Digital Marketing Case study: R1million in sales. Product: Forex trading CDs Company: Fleet Street Online purchase via credit card Time period: Nov-Jan. No labour costs. How?: expert digital marketing infrastructure (IT & Marketing collaborating perfectly) Example Digital Marketing Case study: R1million in sales. Product: Forex trading CDs Company: Fleet Street Online purchase via credit card Time period: Nov-Jan. No labour costs. How?: expert digital marketing infrastructure (IT & Marketing collaborating perfectly)
  8. 8. Companies who reach potential customers faster, offer a better digital customer experience, who communicate more quickly with customers, are winning the sales race. And that is driving a business model change globally. More than ever before, the CMO and CIO have to work together – but they have no historical precedent for this. Companies who reach potential customers faster, offer a better digital customer experience, who communicate more quickly with customers, are winning the sales race. And that is driving a business model change globally. More than ever before, the CMO and CIO have to work together – but they have no historical precedent for this.
  9. 9. Organizational experts say growing tensions are driving the trend, as CMOs and CIOs clash more frequently about questions of turf, innovation and accountability. Gartner Organizational experts say growing tensions are driving the trend, as CMOs and CIOs clash more frequently about questions of turf, innovation and accountability. Gartner
  10. 10. 38% of CMOs say IT keeps them out of the loop 35% say Marketing isn’t given enough priority. 31% of CIOs say their Marketing peers are ill- informed about tech. 36% say marketing routinely bypasses them for solutions, going to outside vendors & ad agencies without first checking for internal solutions. Accenture Accenture reports: 38% of CMOs say IT keeps them out of the loop 35% say Marketing isn’t given enough priority. 31% of CIOs say their Marketing peers are ill- informed about tech. 36% say marketing routinely bypasses them for solutions, going to outside vendors & ad agencies without first checking for internal solutions. Accenture
  11. 11. “The CMO will increasingly have the upper hand in these tensions. According to Gartner, CMOs are predicted to outspend CIOs on tech by 2017.” Wired Magazine 2014 CMOs vs CIOs “The CMO will increasingly have the upper hand in these tensions. According to Gartner, CMOs are predicted to outspend CIOs on tech by 2017.” Wired Magazine 2014
  12. 12. “With customers expecting seamless (& satisfying) digital experiences across more platforms, CMOs & CIOs are recognizing that they need help with skills & strategies that can bridge either the smallest Instagram campaign or the biggest investments in mobile commerce.” Wired Magazine 2014 Solution: CDO “With customers expecting seamless (& satisfying) digital experiences across more platforms, CMOs & CIOs are recognizing that they need help with skills & strategies that can bridge either the smallest Instagram campaign or the biggest investments in mobile commerce.” Wired Magazine 2014
  13. 13. “Unlike CIOs, CDOs aren’t concerned with equipment or how data is moved, but rather where that data is going and how it’s used. And unlike CMOs, who are immersed in advertising, CDOs can see every digital touchpoint including purchase, delivery and service. As a result, they have a much more complete picture of the customer’s experience.” Wired Magazine 2014 “Unlike CIOs, CDOs aren’t concerned with equipment or how data is moved, but rather where that data is going and how it’s used. And unlike CMOs, who are immersed in advertising, CDOs can see every digital touchpoint including purchase, delivery and service. As a result, they have a much more complete picture of the customer’s experience.” Wired Magazine 2014
  14. 14. “For now, CDOs are seen as the people who can step in to fill gaps while simultaneously bridging conflicts between marketing & technology. That is, if you can find a good one. “Right now, there aren’t enough people with the“Right now, there aren’t enough people with the right mix of technical knowledge, businessright mix of technical knowledge, business experience & consumerexperience & consumer--orientation in the marketorientation in the market.” Wired Magazine 2014 The CDO bridges the gap “For now, CDOs are seen as the people who can step in to fill gaps while simultaneously bridging conflicts between marketing & technology. That is, if you can find a good one. “Right now, there aren’t enough people with the“Right now, there aren’t enough people with the right mix of technical knowledge, businessright mix of technical knowledge, business experience & consumerexperience & consumer--orientation in the marketorientation in the market.” Wired Magazine 2014
  15. 15. “There aren’t enough IT people who understand Digital Marketing or Marketing people who understand Digital Marketing (& thus tech issues) fully” “There aren’t enough IT people who understand Digital Marketing or Marketing people who understand Digital Marketing (& thus tech issues) fully”
  16. 16. The CDO Club forecasts that the number of global CDOs will double again in 2014, to 1,000 CDOs by the end of the year.
  17. 17. Number of Chief Digital Officers Doubled in 2013 Seven CDOs Became CEO and Four CDOs Became Board Directors Reuters May 12, 2014 Number of Chief Digital Officers Doubled in 2013 Seven CDOs Became CEO and Four CDOs Became Board Directors Reuters May 12, 2014
  18. 18. Salaries for CDOs ranged from $250,000 to $750,000 98% of CDOs are between the ages of 30 and 59 Globally, 68% of CDOs are located in North America, followed by 23% in Europe, 6% in Asia; 2% in MEA; and 1% in South America Global Stats on Chief Digital Officer Appointments Salaries for CDOs ranged from $250,000 to $750,000 98% of CDOs are between the ages of 30 and 59 Globally, 68% of CDOs are located in North America, followed by 23% in Europe, 6% in Asia; 2% in MEA; and 1% in South America
  19. 19. “The Chief Digital Officer will be the most exciting strategic role in the decade ahead and IT leaders have the opportunity to be the leaders who will define it. “The Chief Digital Officer plays in the place where the enterprise meets the customer, where the revenue is generated... They’re in charge of the digital business strategy. That’s a long way from running back office IT, and it’s full of opportunity.” Gartner “The Chief Digital Officer will be the most exciting strategic role in the decade ahead and IT leaders have the opportunity to be the leaders who will define it. “The Chief Digital Officer plays in the place where the enterprise meets the customer, where the revenue is generated... They’re in charge of the digital business strategy. That’s a long way from running back office IT, and it’s full of opportunity.” Gartner
  20. 20. Examples of CDOs who became CEO, include: Michael Bloom: Former CDO at Wenner Media, now CEO at the Guardian News & Media, North America Paul Gunning: Former CDO at Tribal DDB and global CDO for DDB, now CEO at DDB Chicago Jean-Philippe Maheu: Former CDO at Oglivy & Mather, became CEO at Bluefin Labs, currently Managing Director for Global Brand Strategy at Twitter Charlie Redmayne: Former EVP and CDO at HarperCollins Publishers, now CEO at HarperCollins UK Examples of CDOs who became CEO, include: Michael Bloom: Former CDO at Wenner Media, now CEO at the Guardian News & Media, North America Paul Gunning: Former CDO at Tribal DDB and global CDO for DDB, now CEO at DDB Chicago Jean-Philippe Maheu: Former CDO at Oglivy & Mather, became CEO at Bluefin Labs, currently Managing Director for Global Brand Strategy at Twitter Charlie Redmayne: Former EVP and CDO at HarperCollins Publishers, now CEO at HarperCollins UK
  21. 21. Chief Digital Officers’ knowledge is so highly regarded in the USA that in 2013, Starbucks CDO Adam Brotman joined the Board of Neiman Marcus. Chief Digital Officers’ knowledge is so highly regarded in the USA that in 2013, Starbucks CDO Adam Brotman joined the Board of Neiman Marcus.
  22. 22. “Over the next 5 years, mining executives believe digital will improve company productivity (73%), reorganize operations (65%) & optimize the supply chain (58%).” Accenture survey 2014 “Over the next 5 years, mining executives believe digital will improve company productivity (73%), reorganize operations (65%) & optimize the supply chain (58%).” Accenture survey 2014
  23. 23. “4 out of 5 executives are using digital technologies across IT, business operations, finance and HR.” Accenture survey 2014 “4 out of 5 executives are using digital technologies across IT, business operations, finance and HR.” Accenture survey 2014
  24. 24. “Companies that do not embrace digital will lose their competitive position and may face extinction, according to 88% of respondents.” Accenture survey 2014 “Companies that do not embrace digital will lose their competitive position and may face extinction, according to 88% of respondents.” Accenture survey 2014
  25. 25. What does it take to become a CDO? •Online marketing and social media expertise. Here the emphasis is on driving brand awareness, brand activation and consumer engagement. These CDOs are sought after by consumer-branded goods and services companies. •E-commerce & transactional expertise. The focus here is on driving traffic, conversion and revenue. These CDOs are sought after by companies involved in e-commerce, such as e-tailers and manufacturers that move to direct sales. These CDOs require change management capabilities & the ability to manage channel conflicts. •Transformative product & technology capabilities (i.e., analog to digital). These CDOs are sought after by traditional media companies and require change management capabilities that can impact the whole company. - Source: RussellReynolds What does it take to become a CDO? •Online marketing and social media expertise. Here the emphasis is on driving brand awareness, brand activation and consumer engagement. These CDOs are sought after by consumer-branded goods and services companies. •E-commerce & transactional expertise. The focus here is on driving traffic, conversion and revenue. These CDOs are sought after by companies involved in e-commerce, such as e-tailers and manufacturers that move to direct sales. These CDOs require change management capabilities & the ability to manage channel conflicts. •Transformative product & technology capabilities (i.e., analog to digital). These CDOs are sought after by traditional media companies and require change management capabilities that can impact the whole company. - Source: RussellReynolds
  26. 26. “CDO candidates should be familiar with web, mobile and social media. They should be able to plan and execute long-term strategy around driving customer awareness, engagement, experience and monetization... They should have experience developing new channels & business models, as well as innovative products and services. The CDO also must be tech savvy; though knowing how to code may or may not be required, the ability to manage developers & ask the right questions is a minimum requirement.” “CDO candidates should be familiar with web, mobile and social media. They should be able to plan and execute long-term strategy around driving customer awareness, engagement, experience and monetization... They should have experience developing new channels & business models, as well as innovative products and services. The CDO also must be tech savvy; though knowing how to code may or may not be required, the ability to manage developers & ask the right questions is a minimum requirement.”
  27. 27. “74% of business executives say their company has a digital strategy. But only 15% feel they have the skills & capabilities to execute it.” – Forrester research 2014 “74% of business executives say their company has a digital strategy. But only 15% feel they have the skills & capabilities to execute it.” – Forrester research 2014
  28. 28. “9 out of 10 executives said that a business strategy that incorporates digital technology will revolutionize the way they do business to a degree similar to the advent of the Internet in the 90s” Accenture survey 2014 “9 out of 10 executives said that a business strategy that incorporates digital technology will revolutionize the way they do business to a degree similar to the advent of the Internet in the 90s” Accenture survey 2014
  29. 29. Knowledge of Digital Marketing is vital for companies seeking to stay relevant. IT and Marketing departments both need this skill set in order to collaborate for greater company prosperity in today’s digital world. The Chief Digital Officer comes from an IT or Marketing background. All they need is a solid grasp of Digital Marketing. Knowledge of Digital Marketing is vital for companies seeking to stay relevant. IT and Marketing departments both need this skill set in order to collaborate for greater company prosperity in today’s digital world. The Chief Digital Officer comes from an IT or Marketing background. All they need is a solid grasp of Digital Marketing.
  30. 30. AFRICA’S TOP DIGITAL MARKETING SCHOOL WWW.BRANDSCHOOL.CO.ZA AFRICA’S TOP DIGITAL MARKETING SCHOOL WWW.BRANDSCHOOL.CO.ZA

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