Avoid Marketing Irrelevance: Stop Asking 'What's Our Budget?' and Start Asking 'What's Our Revenue Target?'

Established industries are often disrupted, and in today's world, the traditional role of marketing in business has been reimagined entirely. Executives must now work closely with Finance and use an "incrementality only" mindset to define a budget in terms of the cost to acquire a new customer. Marketers must also move from "What's my budget?" to "What's my revenue target?" in order to avoid irrelevance.

Technology supports and drives Marketing and Finance by enabling insights and connections across the enterprise, while Marketing provides customer insight to help R&D, Manufacturing, and Design develop better products. With an amnesty agreement to tell the C-suite accurate information, marketers can gain respect and authority to create great work.

By A/B-testing and measuring incremental results to understand the true cost of acquiring and retaining customers, as well as working closely with Finance and using buyer personas, marketers can be successful in their new role. There are many resources available to help marketers better understand their role in business.