Crush the revenue numbers. BUT don’t overspend while doing it !!! No wonder why CFO, CMO, C-Suite focus on this intently …. How to excite shareholders, board of directors , C-Suite for optimal marketing budget allocation for exponential revenue & pipeline growth ? All these are accomplished with a strong partnership between Marketing & Finance day in & day out ….
We all talk about exemplary product growth, new logo acquisitions, renewal rate, expansion rate etc in all dimensions – Marketing, Engineering, Sales, Customer Success But there is one more extremely crucial area FINANCE. Highlighting the exemplary partnership that can make a company grow significantly …
The GLOBAL SUCCESS MANTRA is to Perfection the art of identifying/predicting through ML models/validating the most impactful area to invest, utilizing the funds to get the maximum return & repeating it over & over again – wheel of “LEARN, MEASURE, BUILD “
Here are some of the key impactful areas of Marketing/Finance Partnership & Collaboration
MARKETING BUDGET FINALIZATION
NNACV, Total ACV for each of the product lines at different product life cycle stage of introduction, maturity, growth, decline etc marrying it with customers at different stages of Technology adoption life cycle of innovators, early adopters, early majority, late majority , laggards etc
TAM (Total addressable Market) in relevant product / solution areas
New Markets that we are targeting to capture throughout the different parts of globe
New Product lines based on in-depth research around customers needs , wants & future vision that they have as well as looking at the primary, secondary & tertiary competitors & market positioning
Vision that we have to help the customers in various segments
Prediction ML models built leveraging various datasets to come up with highly accurate budget
Workflow driven process to inject the predicted number with human intelligence to get as close to perfection as possible to accomplish the upcoming year immediate vision in the path to our North star goal as well.
MARKETING BUDGET ALLOCATION FOR ALL CAMPAIGNS & ACTIVITIES
Lots of impactful NextGen processes are followed to allocate the overall dollars to individual Marketing Cost Centers Groups like Product Marketing, Content Marketing, Digital, Events, Marketing Operations, Customer Success, International, Innovation, Global Integrated Campaigns etc
This Allocation is not only done @ Scale & with Agility but also rigorous Refinement & Optimization is injected at every step for exemplary returns
Powerful ML prediction models are built to make it a top notch process
Goal : “Put The Dollars Where your Returns Are” - We all know the best returns we get when we have Servant mentality to our Customers & prospects.
MARKETING BUDGET TRACKING
Budget Allocation is just one step in the overall journey of Budget Management but the real success mantra is around tracking & optimizing the budget spend to drive exponential returns
Highly optimized process are always ON to redirect funds in real time as well and with extremely simplicity & agility to generate HUGE returns.
Unified NextGen Procurement Management Systems are done to provide automation & manual capability as well to :
Create PR
Approve PR
Generate & Track PO, Invoices, Receipts, Actuals , Accruals etc
Always ON Intelligent Systems to calculate the effectiveness at every step & recommend optimal path as well around Budget Transfers , Reallocation etc
Multiple systems work cohesively - Transactional, Finance, Insights & Prediction to better server our users at scale.
Budget Tracking : is THE MOST CRITICAL STEP for accomplishing the goal of Maximizing Returns with Minimizing Spend across cost centers/Orgs.
MARKETING CAMPAIGN & ACTIVITIES ROI
Reporting, Metrics, Insights are injected at every step of the journey & NOT an after thought to be validated at the end.
The cohesive bonding between Marketing & Finance Teams keep everyone in their toes to get to the North Star Vision & continuously enriching every sec, minute , day to keep pushing the boundaries
Campaigns are the backbone of awareness, nurture, conversion, adoption, expansion for every product line AND when injected with right finance model will ALWAYS ALWAYS SEE exponential returns !!!
Extremely robust Intelligent process are injected to always highlight the exemplary areas bringing returns but also recommending areas that needs to be transformed
Campaign Effectiveness & ROI measurement are looked intently like
Pipeline it is generating in various product lines
Velocity at which Booking & deals are closed
Rate at which almost Lost deals are also converted to WIN
Rate at which Target Opportunity ACV are increased through X-Sell , Up-Sell even during the Sales Cycle
Rate at which Target Spend is optimized in different Geographic location through cohesive prediction, automation & processes
In nutshell, Marketing & Finance Team working in tandem can do wonders & play a BIG role in the expansion of any company to grow exponentially & better serve their customers with WIN-WIN Strategy and that’s how we all can “CRUSH REVENUE NUMBERS WITHOUT OVERSPENDING”. Let’s Rock !!!
More in next post !!!
