Welcome to the latest issue of R3LATIONSHIPS MONTHLY - our ongoing email update of trends and insights into the marketing industry
CFOs Migrating Their Role in Marketing
The much maligned CFO is being reborn as an important fuel to better marketing, as Big Data, Market Mix Modelling and Finance come together to drive better results. Last month, Twitter announced that its CFO is going to take over marketing. From our own experiences, we have also seen the coming together of the two departments .
Recently we hosted two sets of ten CFOs in a series of Roundtables to better understand their issues and challenges and help drive greater transparency to marketing. Finance heads from Coca-Cola, P&G, AirBnB, Standard Chartered Bank, Fonterra, Ferrero, Johnson & Johnson and others helped network, share best practice and align on digital.
Three key outcomes were:
1. Marketing is becoming more deeply ingrained to finance
2. CFOs are expecting more than just an advisory role – many are already actively engaged in budget setting and audits
3. Digital is no longer just a channel or buzzword, it’s the key foundational aspect of any strategy
You can read an analysis from R3’s Senior Consultant, Seema Punwani here.
ANA is Leading a Transparency Taskforce
The Association of National Advertisers (ANA) in the US has taken the unprecedented step of launching a massive review on media transparency. Spurred on by recent comments from former MediaCom CEO Jon Mandel on media agency profitability, this process aims to clear the air on media rebates and help drive better outcomes.
R3 is a global marketing consultancy focused on improving the effectiveness and efficiency of marketers and their agencies. Founded in 2002, we work with eight of the world's top twenty global marketers.