The marketing and finance relationship
As technology is changing the way we work, so the relationship between marketing and finance needs to evolve for continued success. Chris Lawson explores ways to put this into action.Chief financial officers (CFOs) and chief marketing officers (CMOs) are like the John Lennon and Paul McCartney or the Noel and Liam Gallagher of the boardroom. Expert talents that can form a successful partnership, but far too often end up clashing, fighting and going their separate ways.
However, the relationship can be rewarding and pay dividends if handled correctly. As technology revolutionises the way we do business, marketing directors and their financial counterparts have an opportunity to achieve growth and build shareholder value by singing from the same song sheet.
Throughout my career, starting as marketing executive and moving into CMO roles for a number of household names and successful startups, I’ve noticed a real change in the way these roles have interacted. Regardless of the company or the project, there are four areas of common interest that can ensure the relationship can only improve over time:
This is an extract from the Business & Management Magazine, Issue 273, April 2019.