The role of the CMO is more invested in technology than ever, and CMOs have no choice but to engage with the CIO and align business and tech objectives. Key to the success between CMO and CIO is how both roles can collaborate around data.\n\nRelated reading: How the CMO can leverage the data of retail networks to deliver better outcomes for their organisations.\n\nOn the surface, there is a perceived tension between CMOs, CIOs, the rest of the executive team, and data. CMOs need to look for ways to leverage customer data to deliver superior and highly tailored experiences to customers. CIOs need to ensure that the business\u2019 use of data is compliant, secure, and done according to best practices. They need to assure the board that the risk from data is minimised.\n\n\u201cUnderstanding that global data policies and regulation are ever-evolving, CIOs must plan around regulation in effect today, and also what could be adopted in the future,\u201d Melanie Hoptman, Chief Operating Officer, APAC, at LiveRamp said. \u201cBy taking a forward-thinking approach to privacy and security, CIOs will set a sustainable and durable foundation for data ethics practices at their organization.\u201d\n\nIn Europe, for example \u2013 often considered the leader in global trends when it comes to compliance law \u2013 the GDPR alone costs more than $US1 million to be in full compliance, on average, and in terms of penalties, companies were fined more than \u20ac1 billion in 2021 alone.\n\nHowever, as data enablement platform, LiveRamp, has noted, CIOs are well across these requirements, and are now increasingly in a position where they can start to focus on enablement for people like the CMO. \u201cThe good news for many CIOs is that they\u2019ve already laid the groundwork through investments in data governance and migration to the cloud,\u201d LiveRamp noted in a recent report.\n\n\u201cWhile the passage and enforcement of GDPR, CCPA in California, and other data regulations may have once been seen as seismic events affecting brands and publishers alike, they\u2019ve actually been a forcing function for companies to organize their data, remove data silos, and clearly document what they have access to and how it can be used.\u201d\n\nGaining Executive Buy-In\n\nSuccessfully capitalising on the data opportunity requires a whole-of-business approach. However, LiveRamp notes that there are three particular executives that CIOs and CMOs should collaborate most closely with so they can drive buy-in across the organisation.\n\nThe goal \u2013 at least in the initial instance \u2013 will be to reduce the siloing effect across organisations. As noted on Tech Target, data silos create a number of headaches for organisations and often make maintaining compliance more difficult:\n\nIncomplete data sets, which hinder efforts to build data warehouses and data lakes for business intelligence and analytics applications.\n\nInconsistent data, which can result in inaccuracies in interacting with customers, and affect the internal operational use of data.\n\nLess collaboration, when different teams have access to different data sets, the opportunities to work together and share data between departments is reduced.\n\nData security, the decentralised nature of where data is stored when it is siloed can expose the organisation to increased security and privacy risks.\n\nIn this context, there is a natural alignment across the organisation to address the challenges of siloing. The CMO wants to free the data up for better collaboration and customer interactions, while recognising the need for the CIO and others to ensure the organisation adheres to best practices for the increasingly strict compliance environment.\n\nHowever, the challenge is that one line of business will not always want data accessible to another line of business \u2013 and indeed that in itself can become a compliance risk. Marketing should not have access to elements of the finance team\u2019s data, for example. The CIO should work with their counterparts like the CMO and others to ensure teams have access only to the data necessary to drive their specific business outcomes.\n\n\u201cBusinesses must think of the CIO and CMO as equal champions whose partnership makes innovation possible,\u201d Hoptman said. \u201cWhen the CIO unites siloed customer service data with CRM data, marketers can create new opportunities for upsells, data monetization and better personalization, or leverage even purchase data to send targeted offers to customers in-store or at the register. Either use case shifts the perception of marketing from cost-center to revenue-driver, while increasing ROI for tech investments. This is a win-win for CIOs and CMOs.\u201d \n\nRather than allow that to undermine efforts to embrace cross-business collaboration and de-siloing, LiveRamp instead recommends privacy-enhancing technologies (PETs). \u201cPETs represent an ever-growing group of cryptographic and encryption protocols\u2014math, basically\u2014that offer businesses the ability to accelerate safe data collaboration, build customer intelligence, and maximize the value of data without relinquishing control or compromising consumer privacy,\u201d Hoptman said.\n\nThe LiveRamp platform provides that to organisations, giving them the ability to collect first-party data as a single source, leverage third-party data in conjunction with first- and second-party data securely, and collaborate both internally and externally by building secure data partnerships with sources (silos) that would have been otherwise inaccessible.\n\nIn delivering this capability to their organizations, CIOs can position themselves at the centre of enablement, giving CMOs access to the critical data that they need for marketing efforts, and articulating the value of doing so to more risk-averse executives, all while maintaining data best practices.\n\n\u201cWith additional data regulation undoubtedly in our future, customer intelligence will only become more challenging, increasing the need for enterprises to unite their internal data and build the infrastructure to support safe, secure collaboration with trusted external partners,\u201d Hopman said. \u201cThe CIOs who plan for this future now will be the ones poised to reap greater returns on their current investments.\u201d\n\nRead the full report here.