# Boardroom superheroes: How the CMO and CFO can become a dynamic duo Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2020-12-16 Category: BUSINESS Category URL: https://financedigest.com/category/business Meta Title: Building Effective C-Suite Collaboration: Lessons from Meta Description: Learn how CMOs and CFOs can collaborate effectively like Wonder Woman and Superman to drive business growth and performance in the face of crisis. URL: https://financedigest.com/boardroom-superheroes-how-the-cmo-and-cfo-can-become-a-dynamic-duohtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/theme-36-1736838670022-compressed.jpg) _By **Aaron Goldman,** CMO, Mediaocean_ Every business leader knows that 2020 was a real test of organisational resilience. Almost overnight, enterprises were faced with the sudden reality that all of their planning – from the quarter’s priorities to long-term business goals – had flown out of the window, leaving executives being pulled in a hundred directions at once trying to pull victories from the jaws of defeat. The truth is that we’ve all, as in a Hollywood film, [faced some dark moments](https://www.financedigest.com/analysis-rocket-startups-face-adapt-or-die-moment-amid-investment-drought.html "Analysis-Rocket startups face adapt-or-die moment amid investment drought") recently and found strength within ourselves to push forward. At a company level, the most [successful organisations have been those where people are empowered to be both autonomous and collaborative](https://www.financedigest.com/a-winning-team-how-corporate-champions-can-drive-successful-collaborations.html "A winning team: how ‘corporate champions’ can drive successful collaborations  "). Every enterprise will have its own stories of superheroics in the [C-suite in the name of their employees and customers](https://www.financedigest.com/the-value-of-customer-centricity-to-c-suite-financial-strategy.html "The value of customer-centricity to C-Suite financial strategy"). At crisis moments, those [leaders may have had to go into battle alone in order to respond quickly enough to emerging issues](https://www.financedigest.com/the-lack-of-female-leaders-and-how-to-tackle-this-issue.html "The lack of female leaders and how to tackle this issue"). At the same time, everyone knows that superheroes can be at their most exciting when they team up and use their powers together – and the C-suite is no different. Through the shock of the pandemic, the CMO and CFO have had to reach Wonder Woman and Superman proportions – one innovating new ways of connecting with a [market of consumers who are experiencing rapid lifestyle changes and consumption habits](https://www.financedigest.com/how-brands-can-adapt-marketing-tactics-to-better-suit-customers-changing-shopping-habits.html "How brands can adapt marketing tactics to better suit customers’ changing shopping habits"), the other tasked with moving mountains to stabilise revenue and ensure ongoing business health. As we move into 2021, and the business context once again shifts under our feet, it’s [time to apply those new skills together and solidify what’s been learned into a better direction for the business](https://www.financedigest.com/the-role-of-invisible-real-time-payments-in-fueling-the-future-of-cx-in-business.html "The role of invisible, real-time payments in fueling the future of CX in business"). However, superhero team-ups are rarely, if ever, without their fair share of internal tension and conflict. Marketing and [finance functions](https://www.financedigest.com/easing-the-burden-of-data-overwhelm-in-finance-functions.html "Easing the burden of data overwhelm in finance functions") will have to work together more effectively than ever as both will be responsible for driving performance and growth, meaning that each will depend on the other to meet their targets. We can look at some classic moments in superhero [team development to learn how to build](https://www.financedigest.com/build-a-strong-remote-team-with-these-5-steps.html "Build A Strong Remote Team With These 5 Steps") effective C-suite collaboration – without having to endure a messy bust-up in the process. # 1: Discover each other’s superpowers A perilous scene, where it seems like our hero might not pull through, is suddenly resolved as a new character enters and easily dispatches the villain: superhero films teach us that everyone has a unique skillset. While discovering the skills of the people around you is often a [lesson learned](https://www.financedigest.com/tripling-the-size-of-my-business-in-the-pandemic-the-mistakes-made-and-lessons-learned.html "Tripling the Size of my Business in the Pandemic — The Mistakes Made and Lessons Learned") only through hard experience, the shortcut is effective communication. The principles of how marketing [works](https://www.financedigest.com/brics-aerial-work-platforms-market-competitive-growth-strategies-based-on-type-applications-end-user-and-region.html "BRICS Aerial Work Platforms Market Competitive Growth Strategies Based on Type, Applications, End User and Region") need to be understood well beyond the marketing team, and that requires putting time and commitment into education. For the CMO, sharing a simplified [model of the marketing](https://www.financedigest.com/the-next-decade-to-see-the-humanized-liver-mice-model-market-detonate-innovation.html "The Next Decade To See The Humanized Liver Mice Model Market Detonate Innovation") workflow focused on the funnel is a good first step which aligns well with the CFO’s existing priorities. At the same time, this must be a two-way street. The CMO and [marketing team can’t afford](https://www.financedigest.com/guide-to-the-most-affordable-marketing-automation-software.html "Guide To The Most Affordable Marketing Automation Software") not to educate themselves on the processes and pressures involved in finance if they want to upgrade their collaborative power, as without that common ground, any other communication will be fruitless. # 2: Identify a shared mission goal Every superhero is on a mission – whether justice, revenge, or self-knowledge – and it’s not always easy for them to see how their mission aligns with their [team members’](https://www.financedigest.com/playground-xyz-appoints-new-team-members-as-it-solidifies-its-position-as-a-leader-in-the-attention-space.html "Playground xyz appoints new team members as it solidifies its position as a leader in the attention space") missions. CMOs instinctively know that building a strong community on [social media](https://www.financedigest.com/yoono-discuss-the-importance-of-social-media-checks.html "Yoono discuss The Importance of Social Media Checks") is critical but CFOs don’t care about fans or followers unless those numbers can be clearly tied to revenue. It’s the CMO’s job to demonstrate and track marketing’s impact with metrics that matter: cost per acquisition and lifetime are [secret weapons](https://www.financedigest.com/cutting-edge-order-automation-retailers-secret-weapon-for-success-this-christmas.html "Cutting-Edge Order Automation: Retailers’ Secret Weapon for Success This Christmas") in this arsenal, especially when so much focus shifts to the short-term. Too often, [marketing language doesn’t suggest a direct enterprise benefit](https://www.financedigest.com/health-benefits-served-by-vegan-diet-will-infuses-vegan-noodles-market-demand.html "Health Benefits Served By Vegan Diet Will Infuses Vegan Noodles Market Demand") that can be measured. The B2B Institute suggests that [marketers should get used to using the language of finance](https://business.linkedin.com/marketing-solutions/b2b-institute/marketing-to-the-cfo), changing ‘awareness’ to ‘customer preference’, ‘marketing qualified leads’ to ‘sales pipeline’. By taking care over the language you use, you can make it intuitively clear that you share an aim with other departments, emphasising the mutual [benefits of collaboration and justifying the work](https://www.financedigest.com/the-future-of-working-from-home-and-other-benefits-that-candidates-want.html "The future of working from home – and other benefits that candidates want") that collaboration can require. # 3: Establish a secret base Superhero teams may start off as scrappy and ad-hoc affairs, but eventually they always realise that they need a shared space to operate from if they’re really going to align what they’re doing. With equipment, intelligence, and organising happening in one place, they can rely on a plan, not on luck, to get it right. All CFOs are deeply aware of the power of data – it’s their [stock in trade](https://www.financedigest.com/global-stocks-trade-higher-at-the-end-of-a-volatile-month.html "Global stocks trade higher at the end of a volatile month") – so marketers need to have the right data and intelligence at hand to be effective. When they have a single source of truth for marketing performance, [finance and marketing teams](https://www.financedigest.com/finance-teams-using-ai-outperform-peers-as-demand-for-skills-grows.html "Finance Teams Using AI Outperform Peers as Demand for Skills Grows") can effectively work from the same starting point. A modern system of record for omnichannel advertising enables [marketers](https://www.financedigest.com/global-automotive-brake-system-market-is-expected-to-witness-a-rise-of-3-cagr-between-the-forecast-years-of-2020-2030.html "Global Automotive Brake System Market is expected to witness a rise of 3% CAGR between the forecast years of 2020-2030") to synthesise data from disparate systems into a central place, and intelligently interpret that data. This creates the actionable [insights needed to keep pace with new demands for marketing](https://www.financedigest.com/airless-pump-market-to-grow-by-1-8x-as-demand-in-personal-care-cosmetics-industry-picks-up-pace-future-market-insights.html "Airless Pump Market to Grow by 1.8x as Demand in Personal Care & Cosmetics Industry Picks Up Pace: Future Market Insights") efficiency and data governance. It’s like the foundation of a house (or of a secret base) – you may not notice it when you walk in, but you’d certainly notice if it suddenly disappeared. Only when marketing and finance understand one another’s power, when they know that they want the same things for the business, and when they have a shared understanding of [performance to operate](https://www.financedigest.com/how-business-owners-can-improve-their-operational-and-financial-performance-through-contactless-and-card-payments.html "How Business Owners can Improve their Operational and Financial Performance through Contactless and Card Payments") from that their combined potential can really be unleashed. [Building out the C-suite superhero team could make 2021 your business’s](https://www.financedigest.com/building-a-business-case-for-integrated-payments.html "Building a Business Case for Integrated Payments") most exciting crossover event ever. --- This blog is powered by Superblog. 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