Now What?

Common Thread Collective

by Common Thread Collective

Jun. 17 2024

Welcome to the final episode of our Bridges series, where we've aimed to bridge the gap between marketing and finance in ecommerce organizations worldwide. Over 11 episodes, we've covered a vast array of topics, providing you with practical steps and insights to enhance your financial literacy and operational efficiency. In this culminating episode, we dive into actionable steps you can take to become a bridge builder within your organization. From aligning financial goals to integrating marketing strategies, we've got you covered. Here's a quick recap of what we've explored: 1. Redesigning the P&L: Viewing profitability from a marketer's perspective. 2. Case Studies: Transforming a struggling brand into a profitable enterprise. 3. Examining Financial Statements: Understanding balance sheets and cash flow statements. 4. Marketing-Led Forecasting: How to forecast effectively with a marketing lens. 5. Interviewing a CFO: Insights from a financial leader. 6. Building Effective Ad Accounts: Creating ad strategies that align with CFO expectations. 7. Handling Revenue Decline: Strategies for managing and mitigating declining revenues. 8. Pricing and Macro Environment: Navigating pricing strategies and understanding the broader economic context. In this episode, we provide five immediate steps to foster a culture that aligns marketing and finance. We emphasize the importance of setting clear financial goals, aligning employee incentives, maintaining daily visibility of financial metrics, and communicating progress relentlessly. Key Points Covered: - Setting Clear Financial Goals: Ensure every employee understands and can articulate the financial goals for 2024. - Aligning Incentives: Align employee incentives with organizational goals to drive desired outcomes. - Daily and Monthly Financial Metrics: Implement systems to track and display daily progress towards financial goals. - Effective Communication: Communicate progress consistently through regular updates and meetings. - We also share a practical tool, the Strategic Planning Memo, used annually to align organizational goals and expectations. A special thank you to our sponsors, Wayflyer and Finaloop, for making this series possible, and to Common Thread Collective for their partnership. If you haven't watched the previous episodes, make sure to catch up to get the full picture!
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Common Thread Collective

Common Thread Collective is the leading source of strategy and insight serving DTC ecommerce businesses. From agency services to educational resources for eccomerce leaders and marketers, CTC is committed to helping you do your job better.

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