Teradata, in collaboration with Forbes Insights, have released a new survey that sets out to explore the challenges and solutions for breaking down marketing silos. The survey enlists five leading CMOs of both B2B and B2C type companies to share their different backgrounds, perspectives, challenges and solutions.
The whitepaper discusses the challenges of marketing silos, including each having its own brand vision, disjointed customer experiences, misaligned messaging, incentivizing short-term sales over long-term brand strategies, poorly integrated and uncooperative teams, and a lack of scale across key growth areas like digital as one silo competes with another.
Breaking down marketing silos requires:
- Replacing competition and isolation among silos with communication and cooperation.
- Consolidating marketing strategies when necessary. In Teradata’s study, marketers say the best way for marketing to become more intertwined with other functions is to set up integrated processes.
- Leadership should act as facilitators, establishing frameworks, encouraging collaboration through teams and knowledge hubs, and upgrading marketing talent.
- Marketers who think like consultants, creating company-wide insights, training marketing talent and participating in strategy development.
- Access to senior leadership. Teradata found that marketers with executive responsibilities are almost twice as likely as others to believe that there are no barriers to interdepartmental integration.
Most of all – aligning the goals of the marketing initiatives with the needs of the customers and clients ensures that everyone is working in the same direction. There's a ton more insight and direction in the report, so be sure to download and act on this important whitepaper.