97% of marketing endeavors do nothing to move their audience. OK, that is not from a study. It is my own perspective. But consider the abundance of articles you see day in and day out noting marketing’s malignant state. For example …
• Joseph Jaffe hints to “The End of Advertising.”
• CMOs are missing the boat on what it means to be a modern CMO
• “While 74% of global businesses have a digital strategy, only 33% believe it’s the right strategy, and beyond that, only 21% – or less than one-fourth – believe they have the right people setting the strategy.”
I could go on and on with the list above, but hopefully you have a bad enough taste in your mouth already. It would be great to talk about marketing innovation, but marketing innovation is an oxymoron. I’ll give you an example. I am an advisor to a new 1:1 brand/user content distribution company. We are a startup. How many CMOs do you think want a case study before proceeding? First off, every company that delivers case study has some spin to it. (If you want to gain some deeper insights into the flaws of case studies read what @augieray has to say about them.) And secondarily, don’t true innovators do something different rather than being me-too-ers.
According to Wikipedia, “Innovation is the application of better solutions that meet new requirements, in-articulated needs, or existing market needs.” And that is exactingly what marketing needs. A better solution to meet the new changing requirements dictated by audience behavior. Audience behavior that is defined by digital, mobile, social, and the ability to validate, refute, or ignore brand advertising and communication. Marketing has done an extremely poor job at keeping up with their audience’s behaviors and usage patterns.
So what are you going to do to fix this? I have three recommendations:
1) Completely change your marketing mentality from being a sales-tangent to focusing on customer relationship building. Marketing needs to lead relationship building and demonstrate brand worthiness in the form of delivering continued value and optimization of the entire user experience. If you build a strong relationship with your customers, they will be loyal buyers and advocates. If you merely concentrate on a sale you open the door for another brand to win over a fickle customer. This change of mentality will actually yield greater success of your sales objective in the long run. Don’t be so short sighted.
2) The CMO must change or the CMO needs to be changed. An overwhelming number of top marketing executives are not active on digital, mobile, and social channels that their audience engages on. How can the emperor understand the common people if he/she does not participate where the audience does and engage with them? How can anyone put together a digital strategy that yields success if they are not a regular user in digital? Far too many CMOs (or Chief Strategy Officers) do not have digital skill sets. Far too many CMOs/CSOs do not understand user digital behavior.
3) Move to a zero-based marketing budget. Just throw out everything you’ve done in the previous year unless you are certain that it has returned positive measureable results. If we agree that marketing needs a major facelift, how can all marketing line items you do year in and year out be correct. Start clean. Your audience behavior has changed so much, it warrants a complete revamp.
I know I have brought up a number of contentious recommendations. Change is tough. No one really likes change. But as the audience behavior has dramatically morphed over the past number of years, too many marketing executives have stayed stagnant. Too many believe they can just hand digital marketing over to a young digitally sharp user and think they have things covered. Well results say this is far from true. So while company marketing leaders’ skill sets have not changed much over the years, a significant void has emerged. And it is going to take some strong willed people to make changes that are required.
Are you ready to step up to what is truly required?
Make It Happen,