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| Marketing financial and banking |
Treat Marketing as a small business unit.
The marketing team includes Finance executives wait a marketers to manage risks, improve efficiency and be financially responsible. What in fact for commercialization is asked to act as the owner of a business strategy unit. They want that traders are aware of their numbers, to show that they have a plan and demonstrate the that they care about the success of the company. If traders accept this role, then as owner, they must demonstrate the reasonable vigilance and accountability focusing on additional sales and gross margin contribution. The owners know their business and key operational indicators. For marketing, key operational indicators are the average customer purchase, the ratio of the cross-sell upgrade conversion, the value of life of the client, the acquisition cost average customer, the average customer retention rate and the cost, the share of the brand in each segment and geography, and the rate of acceptance of new products.
If you are part of the marketing team, and you are not acting as an owner, it is time for a change. In most companies, the owner works with finance to develop their business performance measures. For the marketing of this means they need to finance in the process of planning and measuring marketing just like any other owner.
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