How credible and accountable is your marketing team? Many companies struggle with a significant credibility gap between the Chief Financial Officer (CFO) and their marketing counterparts. And it’s usually the Chief Marketing Officer (CMO) or VP of Marketing who is seen as the initiator of questionable commitments or requestor for budget with indefensible return-on-investment (ROI) assumptions. Marketing spends money, lots of it. But what is this spending actually buying the company? And who is accountable for the results and being proactive in presenting them?
I was recently invited by CFO.University, a company focused on developing worldwide CFO leadership skills among subscribers, to write a series of articles directed at the partnership between CFOs and CMOs. I provide a common sense framework to help CFOs ask the right questions of their CMOs regarding ROI on marketing spending. You can read my first contribution by visiting here.