"Sixty-nine percent of board directors say that the effects of the COVID-19 pandemic are accelerating their digital business initiatives. The challenge for CFOs is how to fund digitalization and growth while maintaining control over their organization’s finances — even when operating conditions remain highly volatile."
Gartner go on and highlight.
"2021 is the year to pivot from discussions about the future to making real investments"
Gartner in the report have this diagram, which shows which areas in the business fund growth.
Reducing the cost of sales and marketing - really?
There has been a lot of debate about the reduction of the cost of sales and marketing in the last 12 months.
Did you know that with digital, you can reduce the cost of sales and marketing and increase the output at the same time?
I totally get you might not want to do this straight away, which is why we always suggest you run a pilot for your social selling.
In the past 6 months we have gone head-to-head with advertising, email marketing and cold calling and in all instances the business has decided to drop those demand generation activities to focus on social selling. In all cases they have reduced the cost of sales and marketing and have increased the output from those teams.
Gartner say in thier report
But you won't do anything. Why?
Because you are too scared to. As my colleague, Thomas Ross said on a recent post.
Want to prove us wrong?
If you are a CFO reading this, contact us and we can explain how we can save you money by increasing your EBITDA. No pitch, we can walk you through the case studies and show you how to strip out cost. You can start with a pilot, what have you got to lose?
My Linkedin profile is here and DLA Ignite's LI profile is here, please pick from one of the team.
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CFOs, controllers and FP&A leaders all expect to focus heavily on digital initiatives in 2021, supporting enterprise priorities and optimizing the finance function. Sixty-nine percent of board directors say that the effects of the COVID-19 pandemic are accelerating their digital business initiatives. The challenge for CFOs is how to fund digitalization and growth while maintaining control over their organization’s finances — even when operating conditions remain highly volatile.
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