Finance for Marketing Professionals – How to use financial information to build a credible and coherent case for your marketing budget.
Are you able to persuade your Finance Director or chief budget holders that you need more money to spend on marketing activities? If not – perhaps it is because you are not using the best arguments to persuade them. Just what is the return on investment or the 2 year payback? And why should they invest in your campaign rather than another worthy campaign?
“Marketing Managers rarely see the necessity of linking marketing spending to the financial value of the business…[and so]…the voice of marketing gets disregarded. The situation will never be resolved until marketing professionals learn to justify marketing strategies in relevant financial terms.” Peter Doyle.
The course is extremely practical and delegates will build a sensitivity model to show how marketing variables (response rates, brand strength etc) impact the bottom-line. The course considers traditional approaches to finance, including the main financial statements, and the difficulties that conventional accounting poses for marketing – treating investments as expenses, attributing no value to marketing assets etc. The course also looks at the new approaches to calculating marketing ROI (including shareholder value concepts) which provide marketers with the tools they need to justify marketing investments.
Who Will Benefit?
All marketing professionals who need to improve their financial knowledge.
Key learning outcomes
- A greater understanding of financial measures
- How marketing variables impact financial performance
- The issues for marketing professionals in creating business cases
- Understanding and applying investment criteria – payback, IRR, NPV
- Applying shareholder value principles to marketing