B2B marketers must align with the finance division to enhance marketing’s influence

New Ideas in MarketingEssential news for marketers, summarised by YouGov
July 10, 2020, 10:31 AM UTC

Institute for Practitioners in Advertising’s (IPA) creates a framework for B2B marketers to build trust with the finance division and improve marketing influence.

A report by IPA counsels marketers to align with CFOs to measure the value of marketing for their organisation. Marketers must communicate five areas of the “VALUE framework” (Value, Accountability, Language, Understanding, and Evidence) to highlight the importance of marketing.

The report states, with marketers focusing more on communications, the “finance practitioners have moved into many of the gaps left by marketers”. To restore strategic marketing influence, B2B marketers must demonstrate how marketing creates value and builds brands.

Being transparent about value-creating metrics and using simple language creates accountability and reinforces relationships internally. Combining empirical evidence and agreed upon value-based metrics with financial literacy can help marketers improve understandings of marketing contributions.

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