Financial Skills: Finance for Sales & Marketing Professionals

Course Overview

It is essential that marketing professionals understand the financial implications of their actions and that of the competition. Increasingly managers are expected to reduce their dependence on the finance department and develop their commercial and financial awareness. This course addresses this need by focusing on the financial consequences and early warning indicators in an organisation.

Audience

This course is aimed at all marketing professionals who need to better understand business finance. No prior knowledge is assumed, although we will quickly demonstrate that your financial acumen is higher than you believed - it's the confidence to apply this knowledge that matters!

Skills Gained

Organisations will develop marketing professionals who will be more capable of utilising financial information in their selling process as well as demonstrating financial empathy with both prospects and clients. This should then be translated into improved and sustained profitability.

You will benefit from the course by gaining a better understanding of how a business operates from a financial perspective. This will be achieved by focusing on:

• The key financial statements and how to interpret them
• The key questions and areas you should be addressing
• The key performance indicators in business
• How to spot the warning signals
• How to improve the profitability of your business

This knowledge can then be applied against practical business issues that the professional marketer faces.

Course Outline

• Understand and influence your business model and how money flows into your organisation
• Interpret key financial statements (Profit and Loss, Balance Sheet and Cash Flow Statement)
• Understand financial and marketing objectives
• Calculate and apply the results of key business ratios
• Understand financial and management accounts: working capital management (stock, debtors, creditors and cash), profit vs cash, profit and asset management, break even analysis, budgets and forecasts, investment appraisal
• Financial benchmarking of clients and competitors
• Interpret the financial implications of pricing, margins and sales volumes
• Use cost and pricing methodologies

Financial Skills: Finance for Sales & Marketing Professionals / 0071