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Marketing and Finance: Fueling Innovation or Falling Behind?
Economic Adversity Will Test Their Resolve for Collaboration and Innovation
Economic headwinds have arrived, and chances are, you’re not prepared. Only 10% of marketing leaders strongly believe their marketing investments, whose reins are often held by finance, position them to emerge from economic turmoil ahead of the competition, according to our new report produced in collaboration with KPMG LLP.
Worse, nearly 4 in 5 CMO-CFO partnerships aren’t very willing to collaborate on investments, goals and metrics. Among CMO-CFO partnerships that are indifferent or hesitant to collaborate, only 27% are satisfied with their ability to innovate.
If marketing and finance wish to successfully navigate these headwinds, they’ll need to redefine their working relationship and align on financially responsible growth strategies that prioritize smart, realizable, innovative investments.
Our findings are based on a survey of over 275 marketing leaders across industries and geographies. Additionally, we conducted in-depth interviews with marketing executives from Schneider Electric, The Vitamin Shoppe, Fiserv, Agios, and others.
