As COVID-19 became a global concern earlier this year, it quickly became clear that life and business were about to undergo major shifts. Suddenly, as social distancing took hold, unemployment spiked, and buying habits changed—often radically. Companies large and small had to adapt their marketing, advertising, and operations strategies to match a new and completely different reality.
“The pandemic is a wake-up call,” says Peeyush Dubey, CMO at global technology consulting firm LTI. “Companies need to re-examine every stage of their acquire-grow-retain customer life cycle and think more digitally than ever before. The relationship between the CIO and the CMO has become more important than ever.”
A Healthy Approach
Digitally transforming a company is difficult enough in the best of times. However, in the era of the novel coronavirus, it’s nothing less than critical.
“COVID-19 alters how businesses view engagement across every touch point,” says Glen Hartman, head of Accenture Interactive, North America. At the same time, “the pandemic has served as an accelerant for digital transformation — and the need for relevant, personalized, and contextual experiences.”
While many CIOs and CMOs are better aligned than they have been traditionally, many haven’t established a formal framework for communication and collaboration, Dubey notes. And in many cases, IT systems and marketing technology investments weren’t in sync before the pandemic.