How Finance & Marketing Can Accelerate Growth with Data Inspiration
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The document emphasizes the crucial collaboration between finance and marketing to propel revenue growth through integrated data and analytics. It identifies key challenges in their alignment, noting that only a minority of companies effectively share analytical insights and agree on performance metrics. A unified approach and structured data can significantly improve their relationship, ultimately enhancing revenue generation.
How Finance & Marketing Can Accelerate Growth with Data Inspiration
- 1. $ $$ $$ $ Revving the Revenue Engine How Finance & Marketing Can Accelerate Growth with Data Inspiration Traditionally, marketing has been in the driver’s seat when it comes to revenue growth, while finance tracked numbers back in the garage. With information that was siloed and hard to quantify, the revenue engine often failed to reach top speed. To compete today, marketing must collaborate with finance. Together, they must fuel the revenue engine with integrated data that will accelerate high-performance strategic growth. The New High-Performance Revenue Model The Traditional Revenue Model Low Gear and Low Performance MARKETING FINANCE Gut feelings Unmeasured No accountability for results Top line Relationships over ROI Controls Measurement Cost-savings Bottom line ROI over relationships of executives say marketing and finance alignment is critical, but few companies show signs of alignment.1 78% $ $ Data-inspired Focused on the entire customer lifecycle Collaborative strategy Shared data & insights Art & science fused with data & relationships Top-line efforts linked to bottom-line results Marketing Finance Data Poorly Integrated Data and Weak Relationships Lead to Low Gear Performance Only 38% of companies share analytic insights across departments.6Just 13% of CFOs say finance and marketing are completely aligned on metrics.3 Nearly 1 in 2 CFOs rely on ‘gut-feel’ to compensate for the lack of access to the right financial information.2 The gap between importance and effectiveness in identifying new revenue growth opportunities for CFOs.5 87% of CFOs say they need a more agile way to analyze financial and performance data to meet growth targets.4 The Real Driver Behind Growth is THE CUSTOMER High-performance revenue growth demands that marketing & finance take a data-inspired view of the customer. Turbocharging this relationship requires integrated data. 4 Keys to Improving the Marketing & Finance Relationship with Data 1 2 Unified Mission The finance & marketing relationship is becoming more, not less, complex. Segmentation Customer segmentation can be the ultimate tune-up to compound marketing’s growth goals with finance’s ROI targets. Align on the right metrics and goals as a business. Determine the metrics and goals that define and deliver customer value. FINANCE MARKETING Credibility data Customer lifetime value Payment history Firmographic data Profitability data Behavioral data Cost history Contact data 3 Structure To deliver flexible analytics and insights across the board, data needs structure. Master Data The only way to obtain a single version of the truth for all your business entities. 4 Integration Give marketing access to advanced analytics and feed finance with customer and campaign data. This is the formula for securing the CMO-CFO bond and ensuring a positive ROI. PROFITABLE CAMPAIGNS The Perfect Spark? The finance & marketing collaboration is what ignites today’s enterprise revenue engine. And with the right analytics and data structure, these teams can make it roar. Dun & Bradstreet can help: Advance the relationships with the most potential upside Reduce the tension between risk and opportunity Bring together disconnected data To learn more about accelerating your revenue engine, visit www.dnb.com “Neustar Research Reveals Lack of Collaboration Between Finance and Marketing Departments” by Neustar, 2016. “New Research Reveals Data Deficit Making the Job of the CFO More Challenging and Profitability More Elusive” by Epicor, 2015. “Partnering for Performance: The CMO and the CFO” by EY, 2016. “The Velocity of Value” by David. W. Owens, CFO Magazine, 2014. “Redefining Performance: Insights from the Global C-suite Study” by IBM, 2016. “The 2016 Enterprise Analytics Study” by Dun & Bradstreet, 2016. Sources 25% $ $ $ Advanced Analytics 1. 2. 3. 4. 5. 6.