CEO and CFO are in the CEO's office. "Why are we funneling so much money into content creation these days?" asks the CFO.
"Because it makes strategic sense," says the CEO. "Everyone else is doing it."
"Where's the return?" asks the CFO.
The CEO hesitates. "Lead generation, brand awareness. Let's get Jo on the phone."
The receiver rings. Jo, the CMO, picks up. The CEO repeats the question.
"Lead generation, brand awareness," recites Jo. "Subscriber acquisition. Audience development. Sales enablement. Reducing customer acquisition costs. Client retention. Marketplace differentiation. The opportunity to open up fresh revenue streams. The chance to collate and analyze our own data. The creation of long-term assets for our business."
"Okay," says the CFO, pausing. "But how do we measure the return?"
"That's what I am working on," replies Jo, hanging up for a meeting.
"Well," says the CFO, "it's a lot to consider. What if we continue to invest and it doesn't work?"
"It is a lot to consider," responds the CEO. "But what if we don't commit to figuring this out and we're asking the same questions in three years' time."