What Is The Most Important Relationship In Your Business?

For many, this might come as no surprise, but for some, it’s a revelation I wish I had realized sooner in my career.

A Forbes article from earlier this year highlights some of the keys takeaways on why the CFO - CMO relationship is the most important relationship in business today.

For the most part, gone are the days when marketing departments are viewed as cost centers. And if you are working with a company or team that still believes in and lives by this old adage then I would suggest polishing up the resume...quickly.

The author, Carol Howley, states "As the roles of both CFOs and CMOs evolve, there’s a growing need for these leaders to collaborate on strategy. This helps to ensure that they’re aligned, driving business performance and mitigating risks."

As a FT or Fractional CMO, I can attest that alignment between the CFO and CMO, from strategy development to tactical deployment, is vital to the business and your success as a marketing leadeer. From my experience the sooner each of you are integrated and aligned the better. No different than any other relationship you are in.

Do not wait till you and your team have built out models, budgets and tactics. Bring your CFO into the mix once your pencil hits the paper. They will appreciate it and you will benefit from it.

But many marketers have not embraced this and continue swimming upstream. And in today's market we already have plenty of swimming to do so the bigger your school of fish is when swimming in the right direction will not only create a better strategy but show your CEO a wholistic and integrated approach to the company's marketing strategy.

Not sure how to approach your CFO? You just joined as a new CMO?

One approach which I am a true believer and practitioner of is also highlighted in this article. "CFOs and CMOs also share common goals, like driving business growth and optimizing resources."

Bingo!

Kicking off that first strategy meeting, with the CFO, and with a mindset focused on common goals that are built from the company's annual or quarterly objectives will allow you to begin building your school of fish that swim at the same speed, in the same direction and grow over time.