Finance and marketing are two majors that every business needs. Simply put, the marketing department is responsible for generating revenue. The finance department is responsible for channeling these earnings into various operations to ensure maximum asset growth. Finance and marketing professionals play an important role in the growth of any business.
Main Duties Or Roles Of Finance And Marketing
This section will give you an idea of what you can expect from these two areas. The types of tasks you have to perform every day and the skills you need will be of great importance.
#1 – Financial Expert
By now, you probably understand that finance is a very broad field and that making a list of all the major tasks is a daunting task. However, let’s take a look at the typical tasks you need to perform as a financial professional. Depending on the financial professional you’ve chosen, you can add a few essential tasks to the list below.
Finance is the heart of the business as it pumps money into every department. The primary responsibility of finance professionals is to source capital for a business.
This may involve borrowing money from financial institutions or conducting an IPO to sell shares to the public and raise money to invest in the business. For financial professionals, your responsibilities cannot be overstated.
Finding the source of capital is important, but it is equally important to invest your money in the right places to get the maximum return on your investment. Financial professionals must decide which departments need the most attention. Usually, they have to focus on competitive advantage and turn this skill into a basic skill. Because once the company has a core competence
Well-Built, Business Growth Cannot Be Stunned By Uncontrollable Factors.
After investing money in the business, let’s say the business earns huge profits. What will you do with the profits? Should you reinvest profits and reinvest them in the business, or will you share profits with your shareholders?
Suppose you decide to share profits with shareholders; How much should you give to your shareholders and how much should you keep for reinvestment? As a financial expert, your job is to find the answers to these questions.
Ultimately, as a financial professional, it’s your job to communicate what you think is right for your business. You need to know how to write reports, communicate with management, and present your ideas so that management understands why you are making decisions and how those decisions will affect the business in the long run. how.
#2 – Marketing Expert
Depending on the assignment and scope of work, you must perform a number of essential tasks. Marketers also need to perform some common tasks that are typical for most marketers. As a finance professional, a marketing professional can also choose key areas such as social media, copywriting, strategy, lead account management, sales, and more.
Let’s Take A Look At The Main Tasks Of Marketing Professionals –
You need to dig deeper and find out which customers tend to like your type of product/service, their age, lifestyle, habits, expectations for the product/service, and many more details.
Once you know them, you will be able to act on the items. There is much debate about whether marketing research is the job of top marketing professionals, but the truth is that it is part of the marketing function.
If the scope of the organization is very large, then market research becomes the responsibility of market research professionals.
After-sales research, the main concern of marketing professionals is to bridge the gap between products/services and potential customers.
So as a marketer, you can take many steps to close the gap. You can do sales promotion, direct selling, online advertising, email marketing, SMS marketing, copywriting, and more.
The Next Step Is Delivery
This is part of inherent customer service, but it is also one of the most important marketing tasks because it ensures loyal customers. Strategic planning alone won’t help. You must know how to deliver the product/service so that the customer experience is maximized.
Once the customer is satisfied, you need to go one step further and let them know their experience with the products and services offered by your company. Thanks to these comments, you can further improve your products and services. work-life balance
In the case of financial professionals, work-life balance varies across professions. For example, investment banking professionals do not have a work-life balance because they have to work even on weekends to meet the needs of their clients. Meanwhile, a financial analyst’s work-life balance is good when he works fixed hours and has enough time to spend weekends with his family.
In the case of marketing professionals, the work-life balance is also different. Professionals directly involved in sales may need to stay late to achieve their goals. But those who are social media professionals or copywriters may not need to stay late or work overtime.