Perfectly Scannable News for Busy CMOs, June 2023

This month, TL;DR is focusing on “money;” the good, the bad, and the ugly. And that includes one of the most painful issues facing CMOs today: the state of their relationship with the CFO. This matters, because when Marketing and Finance have a happy marriage, companies are 31% more likely to see revenue growth and their ROI is 28% higher. (Accenture)

TL;DR Webinar Recap: How to Build Your Budget Around Performance Marketing: A CMO Perspective

According to a recent eMarketer survey, more than 60% of CMOs struggle to measure real ROI like sales, leads, and website traffic attributed to their efforts.?

Executive Takeaway?

Our experts agreed that email marketing, SEO, and social media (organic and paid) still have the best potential for positive ROI. For campaigns that are hard to track, net promoter scores (NPS) are a great tool for benchmarking performance. Budgets can be made or broken by your ability to track and share relevant performance metrics with key stakeholders.

Fast Facts

• The average open rate for email marketing is around 21.33%, average click-through rate is around 3.57% (Mailchimp and GetResponse)
• Social media marketing: According to Wordstream, the average click-through rate for Facebook ads is around 0.90% (source)?
• Content marketing: ROI of up to 300% (Content Marketing Institute)
• ROI of SEO is around 800% (source)

Notable Quotes

Rhonda Giedt , Fractional CMO at Straight Talk Marketing: “What you might think works as a marketer, for the biggest conversion may just completely flop. You have to test it and see what's resonating. Marketing 101, test, test, test, and test some more, but try things that are kind of out of the box.”

Natalie Furness - Revenue Operations , CEO and Revenue Operations Consultant: “Get into the sales data, and understand which stakeholders need to be associated with a deal for it to close. To really make sure you understand the key stakeholders and don't only play with your messaging, play with your audiences.”

Watch the full session by clicking here.

TL;DR Webinar Recap: The Marriage of Money & Marketing: 5 Tips for a Successful Union

According to a study by the CMO Council, only 8% of marketers say they have a highly-aligned, cross-functional relationship with finance, and 45% say the relationship is either "neutral" or "contentious."?

Executive Takeaway

The Finance department’s love language is data. To give CFOs the facts they need to approve your marketing budget, CMOs need to schedule regular meetings with Finance to get buy-in at every stage of execution. Then, keep the communication going with dashboards and performance updates around revenue growth, ROI, CAC, and CLV. Wrap this all up with a good dose of LISTENING and you will have the best chance of getting the CFO support you need.?

Fast Facts

• 8% of marketers say they have a highly-aligned, cross-functional relationship with Finance
• 59% of business leaders said that misalignment between Sales and Finance had a negative impact on their company's revenue
• Companies with highly aligned Marketing and Finance teams are 31% more profitable and achieve 20% more revenue growth than those with poor alignment

Notable Quote

Mark Kilens , CMO at Airmeet: “You want to understand how the business manages money, and the most important thing is to learn that cash is not accounting. When you pay for something, you typically don't account for it in marketing.”

Watch the full session by clicking here.

TL;DR 15/5, T3 Livestream Recap: Trend, Tech, & Tactic with Tyler Lessard, VP of Marketing, Vidyard

Every 15/5 episode gives you 15 minutes (or less!) of marketing data, executive takeaways, and actionable strategies… PLUS, five minutes to ask questions from your peers. All of this, wrapped up in a LIVE, video format that is easy to consume and share with others.??

In May’s T3 version of 15/5, we asked Tyler Lessard to share a TREND he is following, a TECH he is loving, and a TACTIC that is working for him.?

Here is a recap of Tyler’s T3:

• Trend to watch: Rising importance of communities of brand lovers for advocacy, co-creation, and first-party data
• Tech he’s loving: Canva
• Tactic that’s working: Audience-first content

Notable Quote

Tyler Lessard ?? , VP of Marketing, Vidyard: "My first metric for my content programs, my community programs, is engagement. I know if I create a high level of engagement that will grow the following and grow the community."

Watch the full session by clicking the image below.

BONUS: Livestreams

Interested in how Hospitality businesses can leverage social media for success? Check out this conversation with Joanna Haynal, Social Media Brand Ambassador for Ron Jaworski Golf as she shares how Agorapulse has helped the brand overcome three challenges to grow their business.?

Go-to-Market and the Realignment of Sales and Marketing

Theresa Anderson, Head of Marketing (EN) at Agorapulse, squared off with SEVEN salespeople for a sometimes heated, but super informative, livestream. The panel discussed how the go-to-market methodology will transform the relationship between Sales and Marketing for the better. Check it out here.?

Social Media Shortcuts: Infographic

Marketing and Finance playing nicely is important to your bottom line. In this infographic, we give you a quick snapshot of why it matters. Click the image below to view the infographic.

You made it!

To celebrate the June edition of CMO TL;DR, we are sharing one of the funniest video clips we have ever seen about the challenges of getting sales to use the CRM. Enjoy!

Want the cheat codes for profitable organic social media growth? Sign up for our calendar to see which sessions are coming up next.

Want to chat? Connect with?Theresa Anderson via LinkedIn?or via email at [email protected].