The Role of Commercial Intelligence (a part of Commercial Excellence) in Shaping Future Leaders

The CIM in the UK has launched a new module called Commercial Intelligence and it’s a game changer in the world of marketing education. This new subject will help marketing professionals to understand the commercial environment in which marketing operates. Commercial Intelligence is a response to the need for marketing professionals to work more closely with finance and sales teams to make strategic decisions that drive business performance. This is a big opportunity for marketing professionals in Sri Lanka to re define their roles and expand their career prospects.

Why Commercial Intelligence ?

In today’s competitive business world companies are focusing on commercial excellence to drive growth and efficiency. Marketing is no longer just about awareness or generating leads; it’s about delivering return on marketing investment (ROMI) and making strategic decisions that align with business objectives. The new Commercial Intelligence module by CIM highlights the need to understand key metrics and financial aspects of marketing to build budgets, optimise performance and get a strong ROMI. By bridging the gap between marketing and sales this module will create professionals who can navigate the commercial world with confidence.

As one of the few Commercial Excellence heads in Sri Lanka I am proud to lead this function in my organization. Being at the forefront of introducing commercial intelligence into our business I get to see the magic happen. It’s great to see how commercial intelligence can change marketing outcomes and how it can improve overall business efficiency and effectiveness and drive growth and deliver results.

The Three Pillars of Commercial Intelligence

The Commercial Intelligence module is divided into three key areas that marketing professionals need to get good at:

1. Metrics to Measure Marketing Performance:

In the past marketing success was measured by vanity metrics such as likes, shares or website visits. But these metrics don’t necessarily translate into business success. Commercial Intelligence is about understanding more meaningful metrics that reflect the actual impact of marketing on the bottom line. This includes customer acquisition costs, customer lifetime value, conversion rates and return on investment. By getting good at these metrics marketing professionals can make data driven decisions that directly impact the company’s financials.

• Marketing Resources to Meet Objectives:

Good resource management is key to ensuring marketing campaigns are not only creative but also efficient and effective. The module will teach candidates how to allocate resources – be it budget, time or people – to marketing objectives. This means understanding how to prioritize different marketing activities, optimize spend and leverage available resources to achieve the desired outcomes. With good resource management marketing professionals can drive more effective campaigns that resonate with the target audience and meet organizational goals.

• Using Forecasting and Financials to Underpin Marketing Budgets:

Forecasting and financial planning are key to any marketing strategy. The Commercial Intelligence module teaches candidates how to use forecasting models and financial techniques to predict market trends, consumer behavior and campaign results. This is invaluable when setting budgets, anticipating problems, and adjusting in real time. By being able to forecast and manage budgets, marketers can ensure their campaigns are not only funded but also aligned to the business’s overall financial goals.

A New Era for Marketing Professionals in Sri Lanka

For years marketing undergraduates in Sri Lanka have looked for opportunities in traditional marketing roles such as interns, assistant brand managers or digital marketers. But with the introduction of the Commercial Intelligence module, there’s a new career path that combines marketing with commercial and financial skills. This is a big opportunity for Sri Lankan marketers to upskill and move into roles that were previously associated with sales and customer development. These roles require a deep understanding of both the customer and the commercial drivers of business success.

Commercial intelligence skills can lead to new career opportunities in customer development, sales strategy, business analytics and commercial management. By upskilling in these areas marketers can become an asset to their organization, driving brand awareness and contributing directly to revenue growth and market expansion.

Bridging the Sales and Marketing Gap

Historically sales and marketing teams have operated in silos, each with their own objectives and metrics. This disconnect can lead to misaligned strategies, inefficient use of resources and lost opportunities. The focus on commercial excellence through the Commercial Intelligence module aims to bridge this gap by creating a collaborative approach. By understanding the commercial implications of their marketing strategies professionals can work more effectively with sales teams to achieve common goals. This alignment can lead to more joined up strategies, seamless customer experiences and ultimately business success.

Building Future Leaders

Commercial Intelligence is not just about upskilling marketers; it’s about building leaders who can navigate the complexities of the modern business world. As organizations look for people who can combine creativity with commercial skills, those with a commercial intelligence background will stand out. These individuals will be able to read data, understand market dynamics and make strategic decisions that deliver short term wins and long-term growth.

Chathura Ganegoda (BSc (USJP), MCIM (UK), MBA(UOC))

“Lead the world to New Dimensions.”

LinkedIn – @Chathura Ganegoda

Email – Chathura.d.ganegoda@gmail.com

WhatsApp – 0777371229