Deloitte.Digital bridgebuildingDeloitteHow collaboration betweenmarketingAccess Economicsand tech leaders can drive growth
New research by DeloitteAccess Economics inpartnership with Sitecoreshows that collaboration,between marketing andtechnology functions is criticalto making the most of digitalinvestmentsWhen collaboration is centredaround customer needs,businesses leadingtheway incollaboration forecast anadditional 11%6revenue growth in thenext year.
The collaboration dividendDigital transformation is widelv accepted asWhat does successftul collaboration look like innecessarytostavcomoetitiveinmodlernbucinacetoday's businesses?Too often these proiects fail, causing falloutthroughout theorganisation, creatingongoing technical integration problems. and wasting valuablea commongoalItgoesbevonddividing tasksbudget. Why isn't digital investment alone enough toand workingindependenty. As a starting point aguaneeobeterousnespertomane Theanswereialaoatonis Gacerse y haingmay wellbe that successincreasingly relies onan agreed strategic direction.This ensures that altieht collaboration across businessunits, especiallyindividuals involved are working towards the samebetween marketing and technology leaders. Settingobiectivesand avoiding workingat cross purdosesupproject check-ins and hoping forthe best arentenoughto se dgtal ransormation project to.Collaboration between kev business functionssuchsuccess.asmarketing and technology isparamount. Efectivecollaborationis characterised by shared goals, opencommunication, well defined responsibilities and1196a jpint focus on mutual benefit. A clear operatingcollaboration frameworkshould be establishedtoprovide structure and guidance to the teams'way of workina.This frameworkshould clearly define rolesresponsibilities and theinteractionpoints between.Cllaboration drivesfinancialbenefits,up to 11%ormarketing and technology, ensuring teams work$110million morerevenue each vearseamlessly to capitalise on opportunities that arisefrom combining unique skills sets and perspectivesfrom both sides.This pacer isbased onaSeptember 2023sunveyof300Australian marketing and technolgyprofessionals from a representation of organisationsandindustries. Survey data is supplemented with,evidence gathered from desktop research tosupporthe insights and views provided in this paper. In thisreport, the term business leaders refers to bothmarketingandtechnologyleaders andusedwherethan respectivebusinessfunctions.
Collaboration keysOf the business leaders surveyed, 989% consider digitalinvestment,Digitallinvestmentiskeytopivotal to businessstrategy.The toptwo prioritiesin the next fiveyearsfuturebusinessgrowthare scaling existing digital solutions and broader digital transformation,Theroot-cause of digtal proiect flure is often poor collaboration. A studyThecollaborationby MIT Sloan Management noted that digital change increases the needconundrumfor collaboration but often makes collaborating, more dificult!'Anumberof academic research have explored the factors leadin...
