The Importance of Understanding Financial Fundamentals

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Marketers are getting better and better at understanding some of these things. If you're selling something for $10,000 as an example, pure profit will ignore that 25% of opportunities convert. The other thing they need to know is what's the value per outcome? What is the value of a lead?

How does a self-proclaimed science nerd approach marketing? By using the scientific method, of course!

Peter Mahoney, author of “The Next CMO,” sits down to talk with Daniel about his unique and incredibly analytical approach to marketing tactics. Learn why constant testing is the glue holding a marketer’s success in the balance and why you should always come equipped with a concrete set of goals for your marketing plan, including metrics, targets, and milestones.

Then, Peter unveils his top tip for aspiring marketers— and why talking to your finance department should be your top priority.

0:00 Intro/Background

3:51 Testing Your Hypothesis

6:05 Setting Up a Plan

13:43 Understanding Data

19:15 Selling a Marketing Plan

24:10 Justifying Brand Campaigns

31:42 A Hill to Die On

36:11 Where to Find Us

Find Peter:

LinkedIn: https://www.linkedin.com/in/pemahoney/

Podcast: The Next CMO

Book: The Next CMO

Follow Daniel:

Twitter: https://www.twitter.com/Dmurr68

LinkedIn: https://www.linkedin.com/in/daniel-murray-marketing

And thanks to our episode sponsor, Retention. What do brands like Warby Parker, Dr. Squatch, Vital Proteins, and Blendjet all have in common? Retention.com is their highest-performing ROAS channel by far. Visit Retention.com to book a demo today.

www.workweek.com/brand/the-marketing-millennials

Daniel is a Workweek friend, working to produce amazing podcasts. To find out more, visit:

www.workweek.com