Sunday, January 5, 2014

Razzle Dazzle (repost from UPworld 12/16/2013)

The marketing profession has lost some of its mystique lately. Here are a dozen things that are contributing to the new realities of marketing.
1.     Media is not about mass marketing anymore. To move people you need to think about grass roots and social media.
2.     Advertising Agencies have lost their grip on clients (no longer cornering the market on unique selling propositions and brand strategy).
3.     Public Relations is actively leading marketers with a better handle on measuring web metrics.
4.     The study of Marketing is often unclear. What does it really means to study marketing? (Is a marketing degree marketable?)
5.     Companies are reluctant to invest in Marketing. Marketers are not making a strong enough case for the longer term equity and payback.
6.     Marketing Communications is too often an afterthought. Instead of planning and maintaining an integrated marketing communications program, the marketing department is playing catch up instead of leading.
7.     Marketers are not good at measuring results. The CEO wants a return on an investment.
8.     Market Research and the discipline of studying consumer behavior is becoming a lost art. Research methodology isn’t funded. Big data is still a puzzle (even when there is more of it).
9.     The new hero in business is the impresario who can understand the market and match it with customer services and a bundle of value that starts with (drum roll) personal selling - Sales.
10.   There’s no more bandwagon. People are much more selective about products that meet their preferences and needs. Being an individual is much cooler than being a conformist. It’s not about keeping up with the Jones’ but rather about your personal brand.
11.   Culture trumps marketing. Companies who show us living the brand is more powerful than trying to apply ivory tower and remote marketing function are winning the hearts and minds of consumers.
12.   Marketing isn’t magic. It can’t reverse an economic downturn or invent a breakthrough in a vacuum.
Still I hope the art and science of marketing isn’t gone, just evolving

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