“Whenever you see a successful business, someone once made a courageous decision.” – Peter Drucker
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business results
“Working on the business recognizes that the business is a thing unto itself. The business is a product that results from our purposeful creative, or alternatively, it is the default result of our subconscious neglect. Like the engine of a car, the business is a mechanism that exists to solve a problem, provide a service, and do a job. And like an engine, if it is not serviced, maintained, and improved, it will fail and become obsolete.” – Shane Jackson
“Companies don’t play to lose. They don’t play to win. They play to tie.” - Andy Miller, AARP
“We must shift from an asset business to an audience business.” – AdNews, November 2nd, 2015
Advertising networks, like those with ad spots or billboard locations to sell, have long been an inventory business. More inventory (thus, the invention of the 22 minute TV show) and higher value inventory (ie, Times Square billboard) has been the recipe for growth. But in today’s multi-channel world with mobile and multi-tasking consumers, it may be less about inventory than it is about audiences. They may be able to quantify how many people walk through Picadilly Circus each day or would pump gas at a particular gas station during a particular month, but those aren’t audiences. Those are statistics.
Many companies devalue marketing, considering it the department that makes pretty pictures or the administrative support for the sales team. Others strongly value the strategic involvement of marketing in product strategy, branding, strategic planning, and industry leadership. I am blessed to work for an organization that models the latter, but I certainly am familiar with the former.
This topic is a big one (worthy of more than one post). To get the conversation started, here are four key questions that you can ask yourself to help you answer the question of how to market marketing in your organization.
1. Can you express your motivation for wanting to market marketing in terms of overall business results?
Do you think that investing in a marketing automation system and nurturing campaigns will generate 20 percent more revenue next year? Do you believe that improving the brand consistency across the organization will lead to higher customer perception of quality and improve gross margins by 2 percent for the next product launch? Do you believe that developing a new interactive platform for sharing product benefits with your sales channel will reduce the sales cycle by two months resulting in a 13 percent increase in revenue with the same effort? These are the types of questions you should be asking, when you are thinking of advocating for anything in a business environment.
If you don’t know how to answer these questions, it could be an indication that you are not yet ready to advocate for a larger and more impactful role for marketing in your company … and that you should get ready. That in itself should be a call to action to learn more about your business, your drivers of value in the market, your customer problems, your solutions, and overall business strategy … and how score is kept financially.
2. What is the perception of your brand and that of “marketing” in your organization? What should it be? What is the gap?
Before you would embark on a brand-building campaign, you would always begin with data to identify the “as is” state and to quantify the “to be” state. And to identify the gap between these states. Often this is accomplished with surveys, voice of the customer, share of voice analysis, or other tools. Why not do the same thing within your organization to gauge how far away the organization is from what you envision as the ideal?
It is also important to know whether your brand is strong enough in the organization to lead that charge. What are you known for in the organization? Why do people come to you? Does that align with what you need it to be to advocate the change you are advocating? What can you do to change the perception and reputation?
3. What “marketing” does your customer really need?
This should probably be the first question, as anything (besides that which is required for regulatory, legal, or financial compliance) that isn’t seen and appreciated by customers, probably isn’t worth doing. It is the definition of waste and the hallmark of bureaucracy. But coming back to my point, what value does the customer perceive in the marketing you do?
Are they able to make better and faster decisions because of their access to technical information? Are your resellers able to sell more because of the sales tools you provide? Are they able to reduce their costs with more accurate quoting resources? Are they able to achieve business results because of the value proposition of the products you provide?
Some service firms have found that dedicated sales and marketing staff is not nearly as effective as sending their consultants right out to their clients to share expertise directly and wet their appetite for more (a topic covered extensively in Patrick Lencioni’s book Getting Naked). Some technical engineering firms, website developers, or agencies find that their engineering teams are best equipped to sell and market to their technical buyers and that all that is needed from marketing is some communication tools to help facilitate these conversations. Each business will be different.
4. What is the winning formula that is worth repeating?
Like any system, it is important to look at inputs and outputs. If you want to answer questions 1-3, a good place to start is your wins. What are some situations that have gone well that you think are worthy of replication? Go back and analyze a big order, a design win, or project award and ask everyone involved how it came to be, the touch points with the organization, what sales tools or marketing resources were used, and what made the difference. There is no sense automating or “improving the efficiency” of things that are not effective.
Photo Credit: DRivers@WorldLaw via Compfight cc
This article was published on the TalentCulture blog.