B2B Marketing | Founder @ Restless Marketing | Fractional Marketing Troubleshooter | Driving global revenue growth with innovative marketing strategies
Are we speaking the same language as our CFOs when it comes to brand marketing and demand generation? 🤔 I've been digging a bit deeper into the research on the relationship between marketing leaders and CFOs. While we share the same goal – driving company growth – it seems we're often not communicating effectively about how marketing contributes to that objective. Here are three key insights that stood out to me: 1. 𝗧𝗵𝗲 𝗠𝗤𝗟 𝗶𝘀 𝗻𝗼 𝗹𝗼𝗻𝗴𝗲𝗿 𝗲𝗻𝗼𝘂𝗴𝗵 💀 Forrester Research/Sirius Decisions, who originally coined the term MQL, now tells us it's no longer sufficient. They've moved on. Many of us have known for a while that the MQL was (unfortunately) mostly a vanity metric with limited impact on revenue. The challenge? It's been so deeply ingrained in marketing and sales processes and systems that changing course has been difficult for many. But change we must. CEOs and CFOs have seen the limitations, and it's time for us marketing leaders to change our approach and implement other metrics that show marketing's impact on the business results. 2. 𝗧𝗵𝗲 𝗯𝗿𝗮𝗻𝗱 𝘃𝗮𝗹𝘂𝗲 𝗴𝗮𝗽 📊 According to a study by B2B agency Transmission (https://lnkd.in/e9EfzZAz), 79% of CFOs believe there are no reliable metrics tying brand marketing to revenue growth. As marketing leaders, we need to get better at measuring and articulating the impact of both brand building and demand generation in a way that resonates with our finance colleagues. What metrics are you using to demonstrate marketing's contribution to the bottom line? 3. 𝗧𝗵𝗲 𝗹𝗼𝗻𝗴-𝘁𝗲𝗿𝗺 𝘃𝘀. 𝘀𝗵𝗼𝗿𝘁-𝘁𝗲𝗿𝗺 𝗯𝗮𝗹𝗮𝗻𝗰𝗲 ⏳ While 81% of CFOs think brand marketing should be measured in under 12 months, we know that brand building is a long-term game. At the same time, demand generation efforts often show quicker results. How are you balancing these two aspects of marketing to meet both short-term expectations and long-term growth objectives? These findings have got me thinking: How can we better align with our CFOs on the value of our entire marketing mix – from brand building to demand generation? Below is a great suggestion on how to have this conversation by James Hurman. I'd love to hear your thoughts. Have you found effective ways to communicate marketing's impact to your finance team? How are you proving the impact of your demand generation initiatives? #B2BMarketing #CMOInsights #BrandBuilding #DemandGeneration #MarketingROI
Do you have a #CFO you want to convince for more money to execute your bold ideas? We asked James Hurman for his advice on how he would do it 👀 James is a globally recognised advertising effectiveness expert who’s spent over 20 years researching, publishing, practising and teaching advertising effectiveness. He‘s the author of two books on effectiveness, has won more than 50 advertising effectiveness awards, and was named the world’s number one strategic #planning director. You can study with him this September 👉 https://loom.ly/J6h6flo Do you have any more CFO tips for the marketers and strategists in our audience? Please share them in the comments. #BoldMindsBoldMoves #LIONSLearning #Strategy #Advertising #Effectiveness
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1moHow about starting with seeing brand as an asset Frans, perhaps even the most valuable asset within the customer company. Interesting for CFO’s creating a metric for it so it can be measured.