Digital marketing spend is on the rise. Forbes predicts it will climb as high as $120 billion by 2021, so it’s hard to be surprised that CFOs can be skeptical of the cost of a company’s marketing efforts.
Add that to the longstanding disconnect between an organization’s CFO and its CMO – the former focuses on cost and revenue while the latter focuses on awareness and demand generation – and the divide widens even further.
While the emergence of digital marketing has helped ease some of the tension by making marketing investments more measurable, the disconnect remains thanks to issues surrounding transparency and the varied definitions of success. Though times have changed, CFOs still have plenty of concerns.
But it doesn’t have to be this way.
Our new report, Closing the CMO-CFO Digital Divide details how CMOs can make allies out of possible adversaries, build trust with their CFOs and along the way gain more investment in their marketing budgets and ease concerns about digital marketing’s effectiveness.
The report shows that CFOs have varied concerns with digital marketing and, above all, want to understand how it affects the bottom line of their businesses. While not everything can be boiled down to metrics, the core of CFOs’ concerns with digital marketing centers on how it is measured and reported.
But, as alluded to above, there are ways to overcome these issues. Unfortunately, proving and communicating the value of digital marketing spend aren’t easy without proper tools and know-how – and companies are struggling to find partners who can fulfill all their needs in an efficient way, all the while getting directly in the way of budget potential.
In this paper, you’ll discover:
• The best ways to address CFOs’ concerns about digital marketing
• CMOs’ and CFOs’ expectations for 2018 digital marketing budgets
• How to earn increased investment in digital marketing efforts
• Why companies aren’t measuring digital marketing success – and why they should be
• Four ways CMOs can build trust with CFOs
Interested in learning more? Get the white paper here.