CFOs are under pressure like never before. Finding creative ways to partner with your marketing department is a crucial way forward.

Keen for CFOs

As a finance lead, you know that CEOs are increasingly relying on you to develop and implement strategy. But here’s the challenge: It’s difficult to fully embrace this strategic role without collaborating with marketing. That means it’s more essential than ever to find ways to partner with your marketing team when it comes to value creation.

The question is: How? We’re glad you asked.

Aligning marketing and finance is important, but getting there can be a challenge.

The magic happens when your department’s financial acumen and priorities meld with marketing’s priorities. Even if you’ve not enjoyed strong cross-functional collaboration with marketing in the past, there’s never been a better time to renew your efforts and work together to shift the conversation.

Alignment is the first step toward accountability, and accountability derives from access to relevant metrics and analytics. Once you’re aligned with marketing you’ll be able to discern jointly what data you need, what metrics to dashboard, and which analytics will get you there.

Here are four ways you can begin allying finance with marketing:

Whether you’re new to the finance role or a long-time veteran of finance at your company, the path forward is clear.

  1. Begin a conversation: Invite your marketing leadership to a conversation about how you might partner to drive value to your business.
  2. Agree on a starting point: Ask marketing if there are programs they believe in for which they struggle to demonstrate value. Or, explore together how you might begin to benchmark and account for brand value. Start small, build trust, and then scale.
  3. Focus forward: Proving the value of last year’s marketing programs is interesting, but learning which programs and timing will maximize future value is far more exciting, relevant and powerful to your business. As you gain an understanding of what’s available in marketing’s performance-measurement toolkit today, and work with marketing to explore new technologies and solutions to support your shared vision and objectives, you’ll be equipped to drive value creation to the next level together.

Marketing Metrics: The Definitive Guide For Finance Leaders

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