Keys to Improve the Marketing & Finance Relationship

The heart always leads marketing. Then follows the sweat and tears into every new idea that comes up in your mind to be amazing no matter what other people tell you. On the contrary, finance is led by the head. Focusing on the benefits of spreadsheets and the money with no emotional investment is what entails finance.

Marketing and finance, together, are a failed marriage. However, those companies and businesses that have managed finance and marketing together know the secrets of success. They are always happier than their competitors in business. Many reasons arise why marketing and finance don’t mix well. Let’s begin with the key places. Sii online can offer these solutions.

1. Share success

It is true that marketing spends a lot of company or business money. However, spending money is just but the half of the story. The other half of the story comprises of the wonderful success about driving revenues, customer acquisition, and brand positioning. The problems come when finance turns a deaf ear to that story.

They often see some spreadsheets that can be lengthy and need to be reduced. Alongside the increased spreadsheet that needs reduction, there is increased revenue flow and income into the company. However, the will have a greater understanding of where the money goes if they see finance included in the results for a better impact in business. They will know what they want to cut and its effect on the business.

2. Share in cutbacks

Nobody likes those people who play nice whenever they want something from you. This is how marketers act to the finance people when they want to conduct their work. S marketers, instead, they should strive to act as partners with the finance department by being actively involved in the fiscal conservatives.

Whenever we need to cut back, we can do so. However, we need to realize the impact of cutting back. We should also evaluate our expenses as to how it impacts our businesses with the improvement of efficiency in partnerships. You can end up with a stronger business budget and plan as an added advantage. It will also come out as open to the cut budgets.

3. Know your numbers

Nothing is so frustrating for the finance department to handle than when you come out seeking money without a good reason or a viable project. It is also frustrating if you come for money if you don’t know why you need that money and what you are going to do with that money.

This pains the finance department because they will think that you don’t know what you want. Instead, they will draft their budget to get you the money they want you to have. This is a scenario where marketing gets guidance on budgets from finance rather than issuing their guidance to the finance department. This is because the marketing department understands the money necessary to carry out their activities. Instead, the marketing department should be aware of what they are doing so that the finance department understands their quest.

In the end, the two will make a successful marriage. Marketing has to meet finance to tie a knot in the middle.