Most grown startups and established enterprises have separate teams for product development, digital growth, marketing, and technology. On the surface, the end goal for each team is the same: driving business value by creating products and services that meet consumer needs. However, over the last decade, leading organizations have realized the importance of merging some of these roles or increasing collaboration across different teams. A lack of the latter can hinder the company’s ability to work effectively, especially in the hyper-connected, rapidly transforming post-pandemic world. Even before the pandemic, most C-suite leaders were beginning to recognize how technology is essential to long-term business success, regardless of the industry. Way back in 2013, Accenture’s "The CMO-CIO Disconnect" study found that only 1 in 10 CMOs and CIOs believed they are currently collaborating with each other at the “right level” required to maximize the opportunities presented by digital technology. Cut to the present, technology continues to play an increasingly vital role in business performance and success. In today’s remote environment, connectivity may have increased but collaboration is threatened, as teams retreat into silos.

Too many chiefs, do not spoil the broth - they make it better!

Today, the C-suite might have different titles, each with unique expertise and experience in their respective fields, but every C-level executive’s role is now inevitably intertwined with the other. Whether it is the Chief Digital Officer or the Chief Marketing Officer or the Chief Technology Officer, cross-functional collaboration is and will be key to the health and future of an organization.

Without getting into elaborate job descriptions, let us take a look at these digital-first roles in the C-suite to understand the relationship between them.

By definition, a CDO is responsible for building well-rounded digital transformation strategies. This role involves integrating digital into every aspect of the business. The irony is that if a CDO does their job exceptionally well, they become obsolete! In that sense, the role of a Chief Digital Officer would seem short-lived though highly impactful.

By 2023 50% of chief digital officers without a chief data officer peer will need to become the de facto CDO to succeed.

The growing demand for creating digital businesses has also increased the importance of data. And how! Today, data-driven companies are able to build better customer experiences, drive innovation, and create effective internal strategies for boosting employee and organizational health. With the primary mission to orchestrate transformation initiatives, the two CDOs (as we have come to realize) cannot operate without the other.

In most organizations, a CTO is responsible for the ‘how’ of a product while a Chief Product Officer is the one concerned with the ‘what’ and ‘why’. A consolidation of the two results in the role of a CPTO - responsible for a thorough understanding of customers, their needs, and the market. Armed with this understanding, a CPTO guides every aspect of product development–from conception to production, from research to design to prototyping and delivery.

Companies can no longer pick and choose to be driven by data, products, or consumers - they need to be driven by all three. A CPTO will leverage data to evaluate product health, its impact, and gain valuable customer insight, and enhance business value.

Similarly, CDOs and CMOs must come together to power data-driven marketing, a culture of experimentation, and most importantly, design and deliver experiences that match the evolving needs of today’s consumers.

Parting thoughts

As the digital habits and behaviors of consumers continue to evolve, what we know today as the “new normal” will be redefined time and again. In the next few years, roles and responsibilities in the C-suite will keep expanding and shifting, and tech expertise will be weaved into every leader’s job description. Without active collaboration between executives and departments, transformation goals can remain fragmented, having a direct impact on innovation.