GrowCFO Show #187 The Relationship Between CMO and CFO with Alan Gonsenhauser, Founder and CEO at Demand Revenue
Jun 11, 2024
00:00
Kevin Appleby and Alan Gonsenhauser discuss the importance of collaboration between CMOs and CFOs in aligning metrics and growth strategies. They emphasize the need for a common understanding of modern marketing and its value to the organization, as well as establishing a customer culture within the business. They also discuss the importance of using data to drive business growth, including predictive KPIs, measuring and optimizing customer lifetime value and retention, and aligning marketing strategies with financial objectives. Cross-functional alignment and clarity on what marketing is not going to focus on are also highlighted as key to growth.
Key topics covered include:
The importance of collaboration between CMOs and CFOs in areas like setting KPIs and metrics, measuring marketing ROI, optimizing marketing spend, and managing risks.
The evolving roles of CMOs and CFOs, and how they can strengthen their relationship by understanding each other's perspectives.
The importance of customer-led growth strategies and metrics like Net Promoter Score in driving long-term value.
Developing marketing strategies that consider both short-term and long-term budget planning for growth and profitability.
Understanding different personality types and communication styles to improve collaboration across teams.
How finance and marketing functions can work together to establish a shared understanding of success and a customer-led culture.
https://youtu.be/xdioRCNweGY
Links
Alan Gonsenhauser on LinkedIn
Kevin Appleby on LinkedIn
GrowCFO Mentoring
Timestamps
0:00-0:12 - Introduction
0:12-0:48 - Alan Gonsenhauser introduces himself and his background
0:48-1:06 - Alan Gonsenhauser discusses the relationship between CMOs and CFOs
1:06-1:20 - Kevin Appleby asks about measuring marketing ROI
1:20-5:10 - Alan Gonsenhauser outlines 5 areas of CMO-CFO collaboration and discusses customer-led growth
5:10-5:56 - Kevin Appleby and Alan Gonsenhauser discuss KPIs vs key results indicators
5:56-7:34 - Alan Gonsenhauser distinguishes different types of metrics
7:34-10:24 - Discussion on Net Promoter Score and customer satisfaction
10:24-12:23 - Collaboration on growth strategies, budget planning and cost-cutting
12:23-14:10 - Alignment across functions and saying no in strategy
14:10-16:23 - Zero-based budgeting and turnaround strategies
16:23-18:13 - Leveraging customer data and investment areas
18:13-19:26 - Additional growth levers and productivity
19:26-21:01 - Evolving CMO and CFO roles
21:01-23:37 - Strengthening CMO-CFO relationship and customer culture
23:37-25:03 - Finance team adopting customer-led mindset
25:03-31:39 - Personality types, communication styles and presentations
31:39-34:05 - Becoming a successful CMO or CFO
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