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3 Things CEOs Should Expect From Marketing In 2018 - Chief Executive

3 Things CEOs Should Expect From Marketing In 2018 - Chief Executive | The MarTech Digest | Scoop.it
1. A marketing back office renaissance. That drop in marketing budgets is largely due in part, according to Gartner, to marketing leadership being too distracted by tactics and execution. For that reason, we predict a renaissance of the back office – meaning a greater focus and investment on the strategic arm of the marketing organization (basically everything that is happening behind the scenes within marketing.)

2. Alliance between the CMO and CFO. As budgets are tightened, marketing teams that succeed in 2018 will build a closer relationship between Marketing and Finance.

3. A new Chief of Staff to the CMO, Marketing Operations. These trends, along with the newfound pressure for marketing to run more like a business, have created a new VIP on the marketing team; Marketing Operations. For many organizations, MOPs has emerged as the most capable resource to step in and help the CMO in their quest, especially with responsibilities related to data cleanliness, marketing resource management, and marketing performance management.
CYDigital/marteq.io's insight:

3 Things CEOs Should Expect From Marketing In 2018 - Chief Executive

 

Regarding #2: pigs shall fly first.

 

This news comes to you compliments of marketingIO.com. #MarTech #DigitalMarketing

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Collaborate With Finance To Prove Marketing's Business Value - Forrester

Collaborate With Finance To Prove Marketing's Business Value - Forrester | The MarTech Digest | Scoop.it
Here's a sneak peek to some best practices in developing a harmonious relationship with your finance counterparts: 
 
  • Employ a marketing finance expert to bridge the marketing and finance gap. This individual will have a background in finance and marketing, bringing expertise in budgeting, accounting, and balance sheets. Their expertise will help marketers calibrate those hard KPIs, like ROMI and ROAS. 
  • Involve finance in the marketing planning process. You can’t measure campaigns to business goals if you don't understand the metrics that matter to the business.  Financial professionals that are included in the marketing planning process can set the right metrics and KPIs to measure, help to develop forecasts, and determine if a marketing initiative is going to be profitable.  
  • Bridge finance and marketing systems together.  Marketers and financial professionals that have access to marketing performance and transaction data will help to gather the necessary information to calculate incremental lift, revenue and true costs.   
CYDigital/marteq.io's insight:

The question is...: Do you have a trusting relationship with Finance? If not, tread carefully.

 

RYZZ is coming. It’s a new approach to MarTech for B2B Marketers.

 

#MarTech #DigitalMarketing

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Five Strategies Successful CMOs Use to Engage Their CFO | SiriusDecisions

Five Strategies Successful CMOs Use to Engage Their CFO | SiriusDecisions | The MarTech Digest | Scoop.it
To effectively engage and build a strong relationship with the CFO, CMOs should use the following five strategies:

  1. Change the perception of marketing. Enlist the CFO as an ally, and educate him or her on the factors driving significant changes in b-to-b marketing and how marketing can make measureable contributions to business objectives. 
  2. Establish a common language. CMOs must learn the language of business and be well versed in communicating how marketing investments and processes are tied to producing real business impacts. 
  3. Create a marketing executive dashboard. Once a common language has been established, CMOs should partner with the CFO to create a marketing dashboard that aligns with key corporate objectives. 
  4. Design ongoing collaboration. CMOs should establish a cadence of regular meetings and look for opportunities to collaborate with the CFO. 
  5. Act as a general manager. CFOs appreciate CMOs who behave as general managers – applying strategic analysis, metrics and a process-based view to the marketing function’s priorities and initiatives. 
CYDigital/marteq.io's insight:

CT for the important details.

 

Email your comments to joe@marketingIO.com. I’ll publish it here. marketingIO: One Source for All Marketing Technology Challenges. See our solutions.  

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CFOs Get Cozy With Marketing Departments - WSJ

CFOs Get Cozy With Marketing Departments - WSJ | The MarTech Digest | Scoop.it

"CFOs are increasingly collaborating with CMOs, according to an Ernst & Young LLP survey. Of the 652 finance chiefs surveyed, 54% reported an uptick in communication with the CMO over the last three years.

Still, about a third of respondents said a lack of clear performance metrics linking the finance and marketing departments prevents a closer relationship with the CMO.

Finance chiefs bring fiscal discipline to marketing units, EY found, an indication that there are still cultural barriers to deeper types of collaboration. CFOs want to be more involved in other areas of the marketing, such as helping to identify a company’s product mix and utilizing and analyzing customer data."


iNeoMarketing executes your revenue-generating efforts with the right metrics and the appropriate reports. Contact us to learn more.

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Can CMOs and CFOs Get Along? - eMarketer

Can CMOs and CFOs Get Along? - eMarketer | The MarTech Digest | Scoop.it
As CMOs and CFOs are forced to work together more and more, they’re realizing that it’s important to get along. And many are relatively aligned when it comes to major business decisions, especially those involving company strategy and direction.

 

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