Summary: A report from the CMO Council and KPMG highlights the importance of collaboration between marketing and data security teams, noting that one-third of these partnerships struggle with effective communication. As marketing roles expand to include data security responsibilities, concerns about new threats, particularly from AI, are rising among CMOs.
Threat Actor: N/A | AI threats
Victim: CMOs | CMOs
Key Point :
- 79% of marketing chiefs view partnerships with security teams as essential for protecting customer data.
- One-third of marketing teams only communicate with security during crises, indicating a lack of proactive collaboration.
- 84% of CMOs believe AI and machine learning could significantly impact data security.
- Failure to manage customer data properly can severely damage brand reputation and consumer trust.
- Regular communication and collaboration can help prevent data security crises and identify emerging threats.
Dive Brief:
- Building relationships between marketing and data security teams is a growing priority for CMOs, but one-third of those partnerships struggle with collaboration, according to a new report from the CMO Council and KPMG.
- Among surveyed marketing chiefs, 79% view marketing-security partnerships as important to securing customer data that provides a competitive edge. Those relationships can be underutilized, with nearly one-third of teams only communicating during times of crisis.
- New threats are rising, as 84% of marketing chiefs believe artificial intelligence and machine learning could impact data security. CMOs in recent years have seen more data fall under their remit as brands contend with advertising signal loss.
Dive Insight:
CMO anxiety around data security is on the rise as the role takes on more functions related to first-party data, customer relationship management and AI. Marketers at consumer brands have become more active stewards of sensitive customer information as traditional ways of targeting and measuring digital campaigns, such as third-party cookies, fall out of favor or encounter tougher regulatory scrutiny. Some categories, namely retail, are also building out digital ad networks that rely on shopper data, raising the stakes if that data is mismanaged.
Failure to properly handle customer information, or worse, falling victim to a hack or breach could harm consumers and deliver a “sledgehammer” blow to perceptions of a brand, the report stated. On the flip side, a brand that is known for installing additional safeguards around data security could improve its standing.
“A strong marketing-security partnership preserves brand reputation in an environment rife with privacy concerns, proving a strong security commitment can also help build the brand,” said Donovan Neale-May, executive director of the CMO Council, in a statement. “Conversely, a weak partnership can lead to data disasters which will erode brand reputation as well as customer and employee trust.”
CMOs generally understand the value of data security relationships, but collaboration often only occurs when there’s a fire to put out. In more nascent data-security partnerships, collaboration on campaigns sometimes does not occur at all.
More regular data-security hygiene helps prevent crises and keeps CMOs aware of where the next threats might emerge, per the report. That said, 33% of CMOs see data-security organizations as hesitant or unwilling to work together, creating a communication barrier.
The emergence of generative AI tools like ChatGPT was highlighted as a chief area of concern. Marketers have taken a cautious approach to AI but see it as a way of potentially boosting efficiency, creative ideation and personalization. How AI acquires and applies data can be opaque and even run into legal hot water.
“While marketing departments want to use AI, customer behavioral data, and the internet of things to personalize customer interactions, they pose significant security risks,” said Bret Sanford-Chung, managing director of U.S. marketing consulting at KPMG, in a statement.
The CMO Council and KPMG’s findings were based on surveys of over 256 marketing leaders across industries and geographies, as well as qualitative executive interviews.
Source: https://www.cybersecuritydive.com/news/cmo-data-security-breach-ai-marketing/725006