Last week we discussed a study that proclaimed the dawning of a new day between the CEO and HR. This week there is news of more collaboration between the CFO and CMO.
Ernst & Young (EY) has released a new survey that they believe shows better communication between finance and marketing.
“CFOs and CMOs have traditionally been distant allies,” said Woody Driggs, Global Customer Advisory Leader at EY, in a press release. “Yet in today’s digital economy, a strong finance-marketing relationship can spell the difference between high-growth organizations, and those that stagnate or are left behind. For organizations to remain relevant and thrive, the CMO needs to call into question all aspect of the marketing mix and the CFO, meanwhile, needs to make the strategic investments that will enable established companies to adapt.”
Here are some advertised findings from the survey:
- 54% of CFOs say collaboration with CMOs has increased.
- Almost two-thirds (61%) of CFOs surveyed have made customer segmentation and insight a priority, less than half (47%) feel they make a significant contribution to this activity.
- While just over half (59%) of the CFOs in the survey say measuring ROI from marketing is a priority, only 13% say that the agendas of finance and marketing are completely aligned on the issue of measurement methodologies.