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Bridging the Gap Between Marketing and Finance By Pat LaPointe
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Transcript of Bridging the Gap Between Marketing and Finance By Pat LaPointe
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Bridging the Gap Between Marketing
and Finance
Pat LaPointe March, 2016 @measureman
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Multi-Level Defense Systems of the Modern Marketing Budget
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Meanwhile,over in Finance…
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The Marketing View
Growth in ad spend tracks with and often exceeds economic growth
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Marketing is increasingly important.
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The Finance View
Ad spend remains flat as %GDP while other sectors grow rapidly
Healthcare
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Marketing is declining in relative importance.
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What Marketing Says…
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What Finance Hears…
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Marketing: - awareness - perceptions - engagement - targeting - real-time
Finance: - profit - growth - risk - cashflow - governance
Might help drive sales Might get CEO in WSJ
Will keep the lights on Will keep CEO out of jail
Persuasion Analysis Optimism Realism
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How Should Marketing Evolve? • Uncertainty
abounds
• Pace of change antiquates conventional wisdom
• Fragmentation of options exceeds human capacity
• Analytics are still predominantly backward-looking
Marketing
Finance
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3 Steps to Better Align Marketing and Finance
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The Role of Marketing is to Drive Shareholder Value
Near-term
Cash Flow
Asset Growth Long-term
= Shareholder Value
+ more customers
+ more $/customer
+ better margins/$
+ customer value
+ brand equity
+ corp. reputation
1 (re)Define the ROLE of Marketing
Speak the language; “Point” data and analytics at the right things
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2 Shift Focus in the Information Era
Experiments
20%
Scaled Execution 80%
“Prove” “Justify” “Defend”
Efficient Execution Era Information Era Forecast ROI By Segment
“Learn” “Iterate”
“Simulate”
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In Marketing, Accuracy Credibility.
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3 Triangulate. “Truth” is an Illusion
Recent Observations
External Benchmarks
Environmental Impacts
Zone of “Truth”
“I don’t know” can be a disarmingly powerful way to build credibility.
When Finance and Marketing collaborate on a well-defined learning agenda, growth-driving insights emerge.
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When Marketing Says…
“I’m seeing some data that suggests we might improve unit sales growth by moving some $ away from our Segment A digital
plan and into our Segment C loyalty program. Can you spare a
few minutes to review my simulation assumptions and make
sure I’m not missing anything important?”
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Finance Hears …
“Ok. No one is trying to sell me or convince me of
anything. They really do seem interested in learning
what really works.”
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“Marketing analytics create the illusion of control and certainty.
Cannabis has much the same effect.”
- Tim Ambler
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