News from Cass Business School

Professor Robert Shaw advises on better practices between finance and marketing

Saturday, 2 May, 2009

Three leading professional bodies - the Chartered Institute of Management Accountants (CIMA), the Direct Marketing Association (DMA) and the Chartered Institute of Marketing (CIM) - have joined forces to issue an urgent call for better working practices between finance and marketing at a launch held at Cass this week.

A report issued jointly by the professional bodies, Return on Ideas: Better results from finance and marketing working together', showcases the Infinity Model', a groundbreaking new framework which adds value to organisations by demonstrating the impact of marketing on the bottom line.

Organisations around the world are in the middle of a once-in-a-lifetime marketing upheaval. Businesses can grasp how important marketing is but the temptation is to slash budgets in a downturn. All three bodies are concerned that many companies do not have the right blend of marketing and accountancy acumen to either establish the value of their marketing campaigns or account to shareholders on the effectiveness of marketing spend or investment. Hence it is vital that marketing and finance work jointly to demonstrate the real value of marketing to the bottom line.

Over 100 organisations were surveyed by Return on Ideas author Professor Robert Shaw in order to find out what works and what doesn't when it comes to marketers working with their finance business partners to create and demonstrate their financial worth. Professor Shaw also researched current measurement theories that are commonly used by accounting firms, consultants and marketing service firms. The essence of this candid research has led to the creation of the Infinity Model' an innovative framework designed to help marketers create greater sustainable value with input from their colleagues in finance.

Ray Perry, Director of Brand at CIMA, says:
While marketers and finance professionals have sometimes had a disjointed working relationship, this innovative report and model aim to bridge that gap for any size of organisation in any market.  Imagination, prediction and demonstration are key aspects of the role of finance and marketing colleagues. The Infinity Model and the practical check-lists will be invaluable to help them work together to maximise sustainable value for their organisations.

Permanent link to this story: https://www.cass.city.ac.uk/news/2009/may2/professor-robert-shaw-advises-on-better-practices-between-finance-and-marketing

Robert Shaw, Professor of Marketing Metrics at Cass Business School

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