553: Why Marketing & Finance Should Be Friends w/ James Thomas


In this episode we talk to James Thomas, CMO at Allocadia.

Wouldn't it be nice to have severalthought: Leaders in your industry, Kno and love your brand start a podcast,invite your industries thought leaders to be guess on your show and startreaping the benefits of having a network full of industry. influencerslearn more at sweetfish media DOTCOM, you're. Listening to the B Tob Grothshow podcast dedicated to helping B to B executives a chief explosive grown,whether you're looking for techniques and strategies, tools and resources.You've come to the right place. I'm Jonathan Green, I'm James Carburry.Let's get it into the show weare here, aagain at the BT BMarketing Forum here in Boston, I'm here with James Thomas he's the CMO atAlaqabia James. How re you doing ndegreat that I think Sohav me so sojames you're, about to do a talk little bit later today about marketingsinteraction with finances which is really interesting, and we haven'ttalked a lot about that Mon. The show artes about you know give us a littlepiece of what your talk's going to be about. Why why you think it's soiablet's so funny when you say that one of the slides we have? Is this a deer indthe headlight look and that's what many marketers think about when they thinkabout talking to Fileantsa? Now they really want to avoid it so or talk Toescasmia, Amasimoand other things. JUS C O doesn't want here and so Um. The whole talk today isabout how to actually speak the longuage of t of the business. Whymarketers need to be less afraid to finance and really embrace what financstrying to do so. Finance is really trying to make sure that the businessis running efficiently makes sure that teams are spending the moneyeffectively. Many marketers think that semos aretrying to pull budget from them. They're, actually not they're, justtrying to make sure that you're, accountable or um being a bettermarketer. They only can SR spending money well, and so what many marketersdo if they go talk to finance and they'll say just give me my budget andI'll do whatever I want with it...

...and and some Sios S. Pos are okay withthat, but the really modern SFSER really want you to be more efficientwith their dollars. CHALN corse many marketers go talkingabout things that Sepo just doesn't care about right. They talk about leadsand likes, and shares and bollows were, and the finest person cares aboutdollars and San, and so there's this whole disconnect between those twoteams at Omtimes, and so we think there's a better way to do it. Therehas a better way to communicate. I would imagine there kind of coming atit from a place of collaboration, an trying to work with the CFO, as opposedto ne kind of in Asila, with your team,putting together your plan thees. Is there a piece of that to it or I don't know what what is practicallyspeaking like someone listening to this, they now go have a conversation with a cf like.What's? What's it look like yeah? I think it's really is the colloporation,but I like to think about is more of what you need and Marketi's atranslation machine sowe talk about like an Nigmaanshie. This idea thatmarketing finance speaking like G L, codes and they're thinking about likehow much money did you spend on these vendors, whereas marketing wants totake that and translated to saying here's so much, I spent to drive thiscorporate objective to launch his new product to open up a new region to theseries of campaigns that are doing it. So we're really think we're bothtalking about the same dollars, but we're talking about it completelydifferent ways, and so that's why people come to t al Qaeda. They we'rereally a translation tool to say hees whe finance, as you have here's all theactuals that they think you've spent, but in the language of the marketingyou want to be saying cast market, these responsibility for sales, andto,your jobs to be in the middle of those two things, and so especially Beto bemarketing or or really accountable to the sales team. What is sales trying todrive? What rutons are they trying to open? WHAT PRODUCTS WE TRYN to launch?Have those conversations one same dollar tag, multiple different ways. Ifyou can do that, then you can report back to finance what they care about,but you can also report the sales of what they care about. So Marketingoftentimes avoids this money...

...conversation, which is a huge mistakeif you can actually embrace it, ambrace with finance and o Lau, absolutely andElng, with what sales is doing, you can be lot more effective, Marmater Louhthat James this has been fantastic. If somebody listens to this, they want tostake an guys e, an ler more about Alaqadia. What's the best way, O e todo that, Yeaho e website, Allacadia dcom, so allo C ad, I a moreally activeon ontwiter and social media at Aaqaedia and connectwith me personally, only N, I'mnot twitter. At that J, Thomas Under score. Forty four, you thinke to ensure that you never miss anepisode of the BBE growth show subscribe to the show in Itunes or yourfavorite pot gas player. This guarantees that every episode will getdelivered directly to your device. If you are someone you know would be anincredible guess for the be to be grosshell. Email me at Jonathan atsweetfish media dotcom. Let us know we love connecting, would be to beexecutives D. We love sharing their wisdom and perspective with ouraudience. Thank you so much for listening until next time.

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