Why marketers should always focus on the bottom line
This article first appeared on MADInsight
Richard Levy has been working in marketing functions within the financial sector ever since he joined a graduate scheme upon leaving university.
As Head of Marketing for Europe at OFX (formerly UKForex), he has taken advantage of learning “on the job” as much as devouring marketing books, from the more academic to the recent diverse offerings out there.
Investment in self-education is actually always on Richard’s mind: he counts his iPhone to be one of his best investments as it allowed him to access podcasts and articles on the go.
Richard is a great fan of technology and the opportunities for continuous learning it has given us: “If you follow the right people on social media, you can teach yourself new trends,” he told me.
However, his Shiny New Object is not about learning, but rather the link between finance and marketing. As marketers are under increased pressure to deliver measurable results, Richard thinks it’s time for them to stop being good at “spending the money” and start being able to demonstrate how the investment will yield results.
Richard also places great emphasis on looking at long-term return on investment. He explains that “short-term promotions work really well – but only in the short term.” Marketers today therefore have to focus on long and short-term goals equally.
For Richard, those who are able to “talk financially” from an internal and external viewpoint, with both a long and short-term focus, are the marketers who will be successful.
For more on Richard’s favourite marketing books, his advice on self-educating and his tips on being financially effective, check out the podcast in full here.