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4As The Chief Digital Officer: Driving Digital Strategy and Innovation

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4As The Chief Digital Officer: Driving Digital Strategy and Innovation

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The Chief Digital Officer: Driving Digital Strategy and Innovation
On June 30, join Donnovan Andrews, Chief Advisor of Digital Media and Innovation, 4As, as he explores the multifaceted role of the Chief Digital Officer––and how this expanding role will drive industry innovation and help transform your business.

The Chief Digital Officer: Driving Digital Strategy and Innovation
On June 30, join Donnovan Andrews, Chief Advisor of Digital Media and Innovation, 4As, as he explores the multifaceted role of the Chief Digital Officer––and how this expanding role will drive industry innovation and help transform your business.

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4As The Chief Digital Officer: Driving Digital Strategy and Innovation

  1. 1. D A Report by Donnovan Andrews The Unstoppable Trend The Chief Digital Officer 1
  2. 2. WHAT IS A CDO? Digital executives used to be a part of the marketing team; they were typically tasked with a few projects with the main goal of increasing sales. As expectations and digital channels increased, the talent required to manage and innovate around these channels lead to the rise of the Chief Digital Officer. Today, the CDO is someone charged with delivering technology solutions to: increase revenue; track and analyze customer sentiment / interaction; enable product development; and introduce strategic partnerships. 2
  3. 3. Data Social Wearable Gaming SaaS Content Programmatic The digital landscape continues to swell with options to help drive revenue, capture leads, distribute content and manage the customer experience. WHAT IS FUELING THE NEED? Display: 350+ Video: 332+ Social: 380+ Content Marketing / Native: 250+ Search: 160+ Mobile: 386+ Commerce: 335+ Marketing Technology: 520+ # of Digital Companies by Category: Source: 3
  4. 4. FOUR FOCUS AREAS OF A CDO There are typically four types / areas of focus for Chief Digital Officers within organizations: These focus areas usually create four CDO profiles / archetypes… Revenue Advocacy Strategy Business 4
  5. 5. OPERATIONAL DRIVERS CDO– Strategy CDO– Advocacy CDO– General Manager CDO– Revenue / Marketing REVENUE POLICY Chief Digital Officers are typically tasked with driving revenue or internal policy. Revenue-driving CDOs are usually responsible for marketing, general management or managing customer channels. CDOs who drive policy usually develop strategy, internal education and, quite often, external partnerships. 5
  6. 6. THE STRATEGIST Vitals  Revenue Responsibility  P&L Responsibility  Staff Size The role of strategic Chief Digital Officer is supported by a small resource team. The team’s responsible for creating new capabilities – products as well as enhancing customers’ experiences. CDOs with strategic focus are typically, but not exclusively, found within large, established organizations with traditional core business models and / or products (e.g., magazines, radio or television). Quite often, the organization relies on this person to introduce ways of working with technology vendors; and leadership is heavily reliant on a strategy CDO to be the bridge to the tech community. 6
  7. 7. THE ADVOCATE Vitals  Revenue Responsibility  P&L Responsibility  Staff Size The role of the advocate / evangelist type of CDO is typically to: • Drum up attention; • Gather and distribute external insights; • Be a representative to the tech community; • Open client doors at agencies and brands; • Develop marketplace research; and • Often be a conduit for business development. This role is typically aligned with organizational and admin duties, while reporting to the CMO or CRO. 7
  8. 8. THE GENERAL MANAGER The CDO in a general manager role can a take a few different tracks – a popular one is the transformationalist (a CDO charged with bringing the existing infrastructure / assets of a traditional business to the digital age). The second type of general manager CDO is a more ‘executive’ position, overseeing a large team spanning multiple disciplines – customer relations, marketing, content, and product development – to support digital initiatives. This executive CDO often has a vital role communicating with the board, reports directly to the CEO, and has high levels of P&L, revenue and management responsibility. Vitals  Revenue Responsibility  P&L Responsibility  Staff Size 8
  9. 9. The marketer is likely to be the most popular CDO area of operation. With companies concerned about staying ahead of trends, someone needs to be in charge of: deployment and integration across technology platforms; developing social platforms and protocols; as well as, devising data strategies and customizing the technology stack. This operator builds out marketing initiatives, and generates (and qualifies) leads – while building systems allowing for attribution, and tracking of Lifetime Value (LTV) and other KPIs tying into marketing initiatives. Vitals  Revenue Responsibility  P&L Responsibility  Staff Size THE MARKETER 9
  10. 10. ORGANIZATIONS WITH CDOS 10
  11. 11. THE AGENCY CDO • Design the framework for social, consumer and data platforms • Educate the organization on the latest technology developments • Recruit and retain talent with a key focus on digital capabilities • Create the roadmap for how technology will be used within the organization • Interface with client CDO’s to improve workflow and offerings
  12. 12. GENERAL DUTIES OF THE CDO Below are some CDO general duties. Prioritization of these duties should vary based on an organization’s size, goals, digital footprint and culture. • Lead implementation of firm’s long- / short-term plans in accordance with its digital strategy • Ensure company is appropriately organized and staffed (has authority to manage team development to achieve approved strategy) • Ensure expenditures of the company are within the authorized annual budget • Ensure effective internal controls and management info systems are in place • Ensure there are appropriate systems to conduct activities lawfully and ethically • Ensure company maintains high standards of corporate citizenship and social responsibility wherever it does business • Liaise between management and various groups within the organization • Keep abreast of all material market undertakings / industry activity – relay and educate various groups including management • Build scenario assessments about how marketplace changes may affect the organization – inform CEO and management • Provide board with sufficient info, enabling directors to form appropriate judgments 12
  13. 13. • Expect to see more CDOs reporting directly to CEOs. • Expect to see the next generation of CEOs to be former CDOs. • CDO’s will have more extensive interactions with boards of directors. • Look for heads of marketing and sales (within some organizations) to report to the CDO. • By 2016, expect 30% of Fortune 500s to have a CDO – growing to 50% by year-end 2017. • The Chief’s primary territory will be North America, but responsibilities will grow: a CDO will be a global executive position within the next 2 to 3 years. FUTURE OF THE CDO Predictions and expectations surrounding the role of the CDO: 13
  14. 14. A Report by Donnovan Andrews donnovanandrews@gmail.com Twitter: @donnovana 14

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