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

ABOUT THIS EPISODE

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

Wouldn't it be nice to have severalthought leaders in your industry know and Love Your brand? Start a podcast,invite your industries thought leaders to be guests on your show and start reaping thebenefits of having a network full of industry influencers? Learn more at sweet fishMediacom. You're listening to the B tob growth show podcast dedicated to helping beto be executives achieve explosive growth. What you're looking for techniques and strategies ortools and resources? You've come to the right place. I'm Jonathan Green andI'm James Carberry. Let's get it into the show. We are here atagain, at the BDB Marketing Forum here in Boston. I'm here with JamesThomas. He's the CMO at Allocadia. James, how you doing? I'mdoing great today. Thanks for having me so so, James, you're aboutto do a talk a little bit later today about marketings interaction with finance,which is really interesting. I we haven't...

...talked to a lot about that onthe show. Talk to us about you know, give us a little pieceof what your talk is going to be about, why you think it's sovaluable. So funny when you say that one of the sides we have isthis a deer in the headlight. Look, that's what many marketers think about whenthey think about talking to file. That's and how they really want toavoid it. So our talk today is about to trust me, I'm aCMO and other things you CFO doesn't want to hear. And so the wholetalk today is about how to actually speak the lung which of the the business, and why marketers need to be less afraid of finance and really embrace whatfinance is trying to do. So finance is really trying to make sure thatthe business is running efficiently, making sure that teams are spending a money effectively. Many markers think that CMOS are trying to pull budget from them. They'reactually not. They're just trying to make sure that you're accountable for being abetter marketer and making sure you're spending money well. And so what many markersdo is they go talk to finance and they'll say, just give me mybudget, I'll do whatever I want with it. And and some CMOS,are cfls, are okay with that,...

...but the really modern CFLS are reallywant you to be more efficient with your dollars challenge. Course, many marketersgo talking about things that see if I just doesn't care about right to talkabout leads and likes and shares and follows where and the finance person cares aboutdollars and sense, and so there's this whole disconnect between those two teams atany times, and so we think there's a better way to do it asa better way to communicate. I would imagine that kind of coming at itfrom a place of collaboration and trying to work with the CFO as opposed to, you know, kind of in a silo with your team putting together yourplan. Is there a piece of that to it or I don't know whatwhat is practically speaking? Like someone listening to this, they have now mhave a conversation with the CFO, like what's it look like that? Yeah, I think it really is a collaboration, but I like to think about ismore of a what you need and marketings a translation machine. So Iwe talked about like an enigma machine, like this idea that marketing or financespeaking like gl codes and they're thinking about,...

...like how much money did you spendon these vendors or as marketing wants to take that and translated to sayinghere's how much I spend to drive this corporate objective, to launch this newproduct, to open up a new region, to the series of campaigns that you'redoing it. So we're really think we're both talking about the same dollars, but we're talking about it completely different ways, and so that's why peoplecome to Lkat. They were really a translation tool to say here's what financesays you have, here's all the actuals that they think you spend, butin the language of the marketing you want to be saying you because marketings responsibilityfor sales. So your jobs to be in the middle of those two thingsand so, and especially be top marketing or really accountable to the sales team. You know what is sales trying to drive, what regions are they tryingto open, what products we trying to launch? Have those conversations one samedollar tag, multiple different ways. If you can do that, then youcan report back to finance what they care about, but you can also reportthe sales what they care about. So Marketing oftentimes avoids this winning conversation,which is a huge mistake. If you...

...can actually embrace it. Embrace withfinancing. Job Is lactive, absolutely and the line with what sales is doing. You can do a lot more effective. Marketer, James, this has beenfantastic. If somebody listen to this, they want to stake anecy with you, guys. Are the want to learn more about Allokadia. What's thebest way to do that? Yeah, we obviously website allo Katiacom so alOC ADIA will really act up on twitter and social media at Allocadia and connectedwith me personally only on twitter at Jay Thomas Underscore forty four. Love it. I'wesome. Thanks up. Thank you. To ensure that you never miss anepisode of the B Tob Growth Show, subscribe to the show and Itunes oryour favorite podcast player. This guarantees that every episode will get delivered directlyto your device. If you or someone you know would be an incredible guestfor the B tob growth show, email me at Jonathan at sweet fish Mediacom. Let us know. We love connecting with be to be executives and welove sharing their wisdom and perspective with our...

...audience. Thank you so much forlistening. Until next time,.

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