How Marketing & Finance Relate
The struggle between the Marketing and Finance Department has been going on for years. A constant game of tug-a-war that seems never-ending. As a recent graduate with a Finance degree working at a Marketing agency, I believe that Social Media Marketing provides a great way to neutralize the constant struggle between the two sides.
The pioneer of marketing, John Wanamaker once said, “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” This idea of not knowing exactly what your marketing dollars are doing to influence sales at companies around the world has created the struggle between Marketing and Finance Departments. Marketers want to spend money on getting their brand out to their prospective target market and the Finance department is only concerned with how it relates to sales. For years marketers convinced their companies to spend money on the traditional marketing platforms without the ability to see results. Over the last couple of years, companies are beginning to realize the large benefits of transitioning to Social Media Marketing.
Social Media Marketing allows you to track every single dollar that you spend on the platform. That means whenever the finance department asks what is this money doing to influence sales, you can see to the penny exactly what it is doing. For many of our clients, we track ROI depending on whether they have a product or service that can be purchased online.
As a graduate with a Finance degree, I love to see the true results that we bring our clients. I cannot imagine working at a place where I do not have access to data for every client. Not to mention, the results on Social Media are second to no other media outlet. Read more about how Social Media levels the playing field here!
No longer do you have to continue to be in a game of tug-a-war with your finance department. Bring your finance department into your marketing department through the help of Venture Creations! We would love to talk more about how we can help your company succeed on Social Media. Feel free to reach out!
My name is Erik Barker and I am an Account Representative at Venture Creations. I was born and raised right here in Grand Rapids, Michigan. I graduated from Rockford High School in 2013 where I enjoyed playing a variety of different sports. Through a difficult circumstance, I was able to realign my priorities and narrow the focus of my life. After graduating from Cedarville University in May of 2017, I began working at Venture Creations where I focus on building and growing client relationships. I am passionate about my faith, family, friends, finances, and fantasy football!