What's Happening?
In a recent webinar hosted by Marketing Week, key figures from the marketing industry, including Hovis CMO Mark Brown and Sage's global director of marketing analytics Steph Osiol, shared insights on navigating
the budgeting and planning process. The discussion emphasized the importance of collaboration between marketing and finance teams to drive long-term brand investment. Participants highlighted the need for marketers to articulate how their objectives align with broader commercial goals and to engage in conversations rather than transactional exchanges with finance departments. The webinar underscored the role of marketing as a growth engine and the necessity for businesses to invest in marketing to achieve this growth.
Why It's Important?
The insights shared during the webinar are crucial for marketing teams aiming to secure investment and drive growth. By fostering collaboration with finance departments, marketers can better advocate for their budgets and demonstrate the value of long-term brand investment. This approach not only helps in aligning marketing strategies with business objectives but also ensures that marketing efforts are seen as integral to the company's success. The emphasis on storytelling and data-driven decision-making can enhance the credibility of marketing proposals, potentially leading to more substantial investments in brand-building activities.
What's Next?
Marketing teams are encouraged to continue building relationships with finance departments and to use data and storytelling to make compelling cases for investment. As businesses plan for the upcoming fiscal year, marketers should focus on aligning their strategies with consumer behavior and business goals. The next edition of Marketing Week's webinar series, The Lowdown, is scheduled for November 19, where further discussions on marketing strategies are expected.