In an important session of The Financial Executives Networking Group (FENG), two notable thought leaders, Mark Sue and Reed Berglund, unraveled transformative insights on fostering synergy between CFOs and CMOs. Given their significant expertise and background in finance and marketing, their disquisition carried immense value for the members of The FENG in attendance.
In their presentation, Sue and Berglund centered their discourse on critical themes like the remodeled role of CMOs, the pivotal role of data analytics in marketing, the key performance metrics for CMOs, the art of content creation, and the indispensability of a seamless customer experience. All these elements collectively constitute the roadmap for CFO-CMO collaboration.
First on their agenda was the metamorphosis of the CMO role. They highlighted how CMOs have transcended their traditional responsibilities of just branding to become strategic leaders who harness data and analytics to spearhead marketing decisions. Companies like Yeti and Apple serve as prime examples of this evolving CMO role, focusing on customer-centric marketing strategies.
Next, they shed light on the imperative performance metrics for CMOs. Acquisition costs, lifetime customer value, churn rate, and average cart size, as per Sue and Berglund, hold key importance for CMOs to gauge and streamline their marketing efforts.
Notably, the focus then shifted on how content creation is instrumental in minimizing acquisition costs and augmenting customer lifetime value. Sue and Berglund emphasized the need for optimizing owned media assets like websites, email databases, and social channels to enrich customer engagement.
Further fortifying their argument, they illustrated how understanding the customer journey and ensuring a remarkable experience is key to a company’s triumph. They instanced the success stories of companies like Hubspot and Apple, both of which owe their formidable brand loyalty to their exceptional customer experiences.
Lastly, they ventured into the dynamic landscape of traffic acquisition channels, comprising SEO, social media, paid advertising, and traditional media. They stressed the value in concentrating on core assets while adapting to the changing media trends.
In conclusion, Sue and Berglund’s presentation underscored the necessity for empathy, understanding, and strategic alignment between CFOs and CMOs. These insights serve as an essential guide for senior finance professionals to drive enterprise growth and nurture customer relationships. It was their emphasis on a cohesive approach between finance and marketing that distilled the essence of this insightful session.
For a more comprehensive understanding of this discussion, professionals are encouraged to view the embedded YouTube link of this engrossing presentation. Mark Sue and Reed Berglund’s thought leadership will leave you with valuable insights to navigate the challenging terrain of contemporary business.
About the Presenters:
Mark Sue is a trusted finance partner and operational team member who helps turn a start-ups vision into an operations plan and drives results. Mark has an engineering and finance background, foundational skills from top Wall Street Investment Banks, and significant experience in driving growth for venture-backed start-ups.
Mark has spent his career guiding companies to achieve their strategic goals through effective financial planning and a focus on performance metrics. He has successfully supported Series A, B, and C software companies with investor positioning, budget planning, and closing equity and debt financing.
Mark is known for his ability to create informative KPIs and guides for the management team to track progress on a regular cadence, to measure attainment vs. targets. Mark also incorporates benchmark data in his internal presentations and charts the course for companies to premium equity valuations relative to their peer group.
Mark collaborates with sales and teams across the organization to drive results. Mark has supported GTM initiatives and marketing efforts and ties it all into financial modeling and customer acquisition strategies to help start-ups drive growth efficiently. In addition to the accounting system setup, financial reporting, and board packet preparation, Mark also enjoys building teams and developing team members in accounting and finance.
Reed Berglund is a seasoned entrepreneur and marketing expert with a deep passion for aligning wellness brands with the right market experience. His journey into the world of wellness and marketing began during his time at UNLV, where he developed a fascination with sports and holistic health, leading to a lifelong pursuit of balancing physical vitality and overall well-being.
As the founder of Breathe Media, Reed works closely with top professionals in health and wellness to analyze trends, generate insights, and foster a more enriching, healthier lifestyle for all. His leadership experience extends across various successful ventures, including his roles as CEO of iSNAP and Fullbottle, an influencer marketing platform, where he played a pivotal role in scaling operations and guiding teams toward sustainable growth.
Reed is known for his impactful contributions to marketing, particularly in leveraging key performance indicators (KPIs) like customer acquisition cost (CAC), customer lifetime value (CLTV), and return on ad spend (ROAS) to drive measurable results. His ability to simplify complex metrics has empowered marketing teams to make informed, data-driven decisions.
Prior to founding Breathe Media, Reed served as Chief Marketing Officer (CMO) for a high-growth company focused on digital sales, where he successfully steered the business to a profitable exit, further demonstrating his talent for driving growth and long-term success.
