Marketing Strategy

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In the advertising and marketing business, digital is its own channel.  Rare is the vendor that provides a truly integrated single source worldview of a brand. A really smart person once said to an important client “campaigns are overrated” which stuck me with a ferocity that shook my world, but he was right.  A campaign, when well-defined and well-equipped is a powerful selling mechanism.  It’s what people talk about. But translating campaigns across silos is not easy.  Heck, anyone who has ever worked at an ad agency knows campaigns don’t always transfer across media.  A great design-driven print campaign may not work well in radio or a murderously effective TV campaign may not work as out of home.  It’s tah-woooh.  And those silos are under one roof.    

Competing Market Forces

A bunch of hearty souls are trying to bring online and offline selling under one roof.  Yet a greater number of very skilled entrepreneurs are out there selling against the one roof approach — creating even greater and greater specialization.  A friend at CatalystSF told me that there are over 200 social media agencies in the New York area alone.  So what do you do about these two competing forces — the shops who want more pie and are trying to integrate and the shops selling best of breed, stand alone digital marketing specialties?  Well the planner in me usually starts problem solving by “following the money.”  In the case of integrated vs. stand alone I say “follow the strategy.”  

If you find a potential partner with a sense of business strategy that transcends tactical discussions, listen. Business strategy first. Marketing strategy second. Message strategy third and tactical fourth.  I don’t care if its RGA or TBWA. Peace it up! 

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Beyond the Dashboard.

dashboard 

The dashboard metaphor came to me recently when looking for the antithesis of what I have long been calling “rearview mirror” marketing strategy. Those who look through the rearview and side view mirrors to guide marketing decisions are likely to make only incremental advances.  This school of marketers asks questions such as “Where have our sales come in the past? Where have our competitors’ sales come from in the past? Who is gaining marketshare and what is their strategy?”  I’m a fan of history but I don’t advise clients to be stifled by it.

The Marketing Dashboard

The dashboard is something you hear about repeatedly in corporate management circles.  Data a la carte.  A single computer interface with dollar sales, unit sales, segment sales, regional sorts, YOY, month over month, sale by channel, A to S ratio, cost per click, etc. The dashboard can be mesmerizing, but what lies ahead of the dashboard?  The answer is the future. The horizon. And, more importantly, what’s beyond the horizon.  Can you say iPod?

 Incrementalists

I’m not going to go all Henry Ford on you but the future is where the big money is. Doing what everyone else does, even in messaging, is where the incrementalists play. Don’t be an incrementalist.  Look forward. People are people and their needs are predictable. Don’t over think. Understand simplicity, usability, and human nature…and you should be able see beyond the dashboard.  

Happy Holidays and a big fat PEACE!

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Warren Buffet wrote an Op-Ed piece in The Times today telling the world his intentions to buy only American stocks.  Not with Berkshire Hathaway money, but his own. His philosophy? “Be fearful when others are greedy. Be greedy when others are fearful.”

 

As marketing planner I believe this is also good advice for businesses.  Businesses that are fearful, need to be a little greedy and heighten their market acuity. They need to be aggressive in their attempt to validate and understand strategy. As customers become more thrifty, their buying behaviors grow more pronounced. Important things rise to the top. Good marketers ask the tough questions and will find out where they are on the value chain. 
 

Smart marketers who invest in market research and heighten their customer intelligence in difficult economic times will prosper when things turn around. It’s imperative to know what drives your customers and your competitor’s customers when people are fearful. Now is your chance.   

 

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Strategy vs. Tactics

Here’s what’s wrong with marketing today:  The tacticians are pushing out the strategists. 

Measure, measure, measure is taking over for common sense, sense, sense.  Big strategic branding ideas are being replaced by campaign management, ROI, and marketing metric dashboard mania.  Pay per click? Please.  Our ADD society is being fueled legions of marketing people who only see today and next quarter.  

Big branding ideas take time to build, to take hold, to burst forth from the seed. Tacticians don’t have time for that.  

Campaigns come and go but a powerful branding idea is indelible.  

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