Ian Whittaker, a seasoned financial and technology expert, emphasizes the importance of bridging the gap between marketing and finance departments to drive business growth. He argues that CMOs who can confidently present their company’s financial strategy are already ahead, as this indicates a strong collaboration between marketing and finance. New research from Bain & Company and Google reveals that businesses with strong CMO-CFO relationships are 1.5 times more likely to be growth leaders.
The disconnect between marketing and finance is often structural rather than personal. Both departments aim for profitable growth, but finance teams often question the evidence used to demonstrate marketing’s impact. Marketing expenditures are treated as operating expenses, leading to short-term cuts that may harm long-term value. To close this gap, Whittaker suggests three key strategies: speaking the same language, agreeing on success metrics before spending, and balancing short-term and long-term investments.
First, marketers should frame their case in terms that finance understands, connecting marketing metrics to business outcomes. Pricing power, for example, is a crucial but underutilized area where strong brands can influence customer willingness to pay, driving margins. Finance teams, in turn, should provide marketers with visibility into financial pressures and priorities.
Second, marketing and finance should agree on what success looks like before committing to any investment. This includes defining the expected return and the timeframe for seeing results. Only 41% of marketers feel equipped with the right tools to tie performance to business outcomes, highlighting the need for better measurement capabilities. Different types of marketing investments require different time horizons, and businesses should tailor their approach accordingly.
Finally, CMOs and CFOs must balance immediate needs with long-term growth. While performance media drives short-term sales, brand investment builds long-term demand and pricing power. Finance teams should consider ring-fencing brand investments, treating them similarly to other long-term investments. The Bain and Google research shows alignment between marketing and finance on evaluating performance and brand investments, with most expecting brand marketing to pay back over a year or more.