Mind The Gap: Marketing Meets Finance

In today’s Marketing Pulse, gain insight into how:

• Transforming transactional relationships into strategic partnerships can unlock value across business units, focusing on a reinvented association between Marketing and Finance.
• Common misunderstandings about Marketing Operations are debunked to reveal the critical role this function plays in strategy, execution, and performance measurement.
• Harnessing AI can be a game-changer for achieving sustainable growth in B2B spaces by driving transparency, accountability, and market competitiveness.

These articles are penned by members of Forbes Communications Council , key marketing and communications leaders shaping the future of these fields.

Let’s dive in!

?

Marketing: No Longer Just a Cost Center ??

The traditional view of marketing and finance as only transactional partners often leads to missed opportunities. However, a strategic alliance between the two can drive stronger results.

The key lies in bridging the gap through the following:

??? Literacy: Marketing and Finance must both understand each other's language fluently. Marketing's complex discipline requires understanding multiple touchpoints on the customer journey, and Finance involves distinct disciplines like financial planning, tax, and revenue recognition.

???Alignment: Alignment across departments fosters valuable insight at all strategy tiers - evaluating vendors' potential financial strengths, helping determine client campaign mixes, and recognizing successful metrics relevant for both.

???Embedding: In addition to alignment, immersing finance-literate members within the Marketing team can transition relationships from transactional to strategic.

???Unity: A common focus on future growth unites both departments and ensures aligned strategies. With a shared mission, teams can successfully respond to market changes and indicate strong leadership within the market and company.

For CMOs and CFOs, resolving tensions between departments can flip the perception of Marketing from a cost center to a profit center and also ensure better performance.

Read The Full Article > ?

Debunking Marketing Operations Myths ??

Just like the iconic duo from Top Gun, your business needs a skilled and stable 'Goose' to fuel the 'Maverick' of marketing. Say hello to Marketing Operations (Ops): the team that threads together strategy, execution, and performance measurement.

Despite its critical role, it's plagued by misconceptions. Let's debunk them:

???Metrics Madness: Marketing Ops doesn't just rely on traditional metrics, it also tracks how each marketing activity ultimately drives business growth. They pinpoint engagement, programs, and channels that maximize pipeline and revenue.

???Data Dive: Marketing Ops has access to immense data. It can be pure marketing data or data borrowed from sales, satisfaction, competition, or even market/industry. This valuable information helps inform strategies aimed at business and revenue goals.

???More than Data Distributors: Marketing Ops manages a major chunk of data. But, they also actively aid in steering strategy. Equipped with data-driven insights, professionals ensure optimum resource allocation across various activities, channels, and vendors. They often have inputs for other departments too.

Remember, whether you embrace the centralized approach of Revenue Operations or the distributed model, efficient inter-departmental communication is key.

Read The Full Article > ?

?

AI: The Game-Changer in Sustainable B2B Marketing Strategies ??

When it comes to sustainable B2B growth, AI could just be your secret weapon. In an increasingly digital world where stakeholders demand transparency and accountability, marketers have an essential role to play in leveraging AI's transformative benefits while mitigating its risks.

Here are some key takeaways:

?? Beyond Traditional Metrics: AI not only crunches the conventional metrics, but it also underpins activities driving business growth. It can help optimize engagement, programs, channels, and vendors to increase pipeline and revenue.

?? Bounty of Data: AI can handle a vast pool of data across multiple spectrums, turning that data goldmine into strategic insights. From customer behaviors to campaign analytics, sales data to industry trends, AI tools can inform strategies to achieve business and revenue goals.

???Enhancing Transparency: By automating ESG reports, AI platforms can increase transparency and create a foundation for consistent sustainability performance assessment.

??? Mitigating Risks: While AI can streamline ESG data processing, it’s critical to be aware of potential risks such as algorithmic biases or propagation of inaccuracies. Ensuring ethical use of AI is essential to maintain data integrity.

Built on transparency and accountability, AI-driven sustainability reporting can pave the way for corporate behavior beneficial to future generations, helping your business foster a genuine commitment to sustainable practices.

Read The Full Article > ?

?

Wrapping Up

If these articles sparked your interest, we have a network that you will absolutely love: Forbes Communications Council .

This exclusive, vetted community brings together the brightest minds in marketing and communications — founders, CEOs, CCOs, CMOs, and other senior leaders of marketing and communications teams.

Put yourself at the forefront of innovation with access to publishing opportunities on Forbes.com, a personalized, SEO-friendly Executive Profile, and the chance to network with other respected leaders in the field.

Join Forbes Communications Council today, and become part of a group driving transformation in marketing.