Our CMO CFO Connection Report finds the connection between CMOs and CFOs is crucial to unlock new value and growth.
The digital world is creating opportunities for marketing that would have been unthinkable just a few years ago. Marketing technology (martech) and growing proficiency with data are helping chief marketing officers (CMOs) to better understand their customers, track engagement and drive growth.
As they connect marketing with customer experience, they are creating more value than ever. CMOs are placing bigger strategic bets and investments, requiring a significantly larger budget to pay for an effective data-driven strategy and to deliver outstanding customer experience. This new connection is reliant on a strong relationship with chief financial officers (CFOs).
Our CMO CFO Connection Report uncovers why, despite their conflicting priorities, the relationship between CMOs and CFOs plays a vital role in driving business growth and adding value.
The evolution of finance and marketing
EY’s 2015 report, Partnering for performance, found that more than half of CFOs (54%) believed collaboration with CMOs had increased¸ noting that in recent years, CMOs and CFOs have been establishing the foundations necessary for their relationship to succeed. However, it’s the organizations who are proactively building upon these foundations who are effectively driving growth.