In far too many companies there is a war between marketing and finance. And the marketers generally loose. Here are three steps marketers must take to end that war for the benefit of the entire company.
- Marketers must understand that their purpose is to create a better balance sheet: and not merely to create brand awareness.
- Improve your game. Every finance manager that I know is properly schooled and certified in their discipline. Too many marketing managers cannot make that claim, and are not considered by Finance as their equal.
- Present to your senior management team a comprehensive, strategic marketing plan that is a roadmap for achieving the financial objectives that were agreed at the business level. If you need help to create your strategic marketing plan, get it: and show them that marketing is an investment, not an expenditure.
OK; so your finance manager may not exactly embrace you when you have done all the above; but they will respect you. And, I have never met a CEO who did not consider a good investment that would help them achieve their mission. Have you?
Herman Alvaranga educates marketing and sales people.