As part of The Drum’s B2B Focus, the Dow Jones executive shares insights from her own experience of collaborating with finance and revenue teams to not just secure budget, but to drive broader business goals together.
Today, just 20% of CMOs surveyed by the CMO Council and KPMG report having a truly collaborative relationship with their CFOs – and more than 25% say their relationship with the finance team is “indifferent,” and 7% categorize it as “hesitant.”
It’s clear that marketing leaders, for the large part, feel siloed from their counterparts in finance – a problematic finding considering that CFOs control the budgets that marketers so desperately require. This year, marketing budgets will shrink by an average of 15% from last year, according to research from Gartner. More than ever, CMOs and CFOs should be working in tandem to achieve shared goals.
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