How does a person with over forty years’ experience in finance who is only a Marketor due to her former clerkship have the arrogance to consider submitting thought leadership on the subject of marketing? Precisely for that reason.
Marketing circles suggest that the Marketing professional ought to have a seat on the board. Is anything being done to extend the debate outside the Marketing fraternity?
The Marketing professional’s own customer is the board of directors.
Understanding your customer. Has market research been published to discover the benefits that board members want from a Marketing professional – what they want, not want the marketing people are offering? Has enough work been done in sculpting the personal offering of the Marketing professional in the way that is of most value to their customers? Has work been done in identifying the product that fits and then allowing it to sell itself?
Segmenting this market? What efforts are made to specifically persuade the HR managers of the value on morale and staff retention the Marketing professional can have when employees are proud of their company? Are enough efforts made to explain to the Finance Directors how effective marketing increases the bottom line and the capital value of the company? What efforts are made specifically to the Technical Directors to explain the importance of the Marketing professional to product designers. What efforts are made to push the strategic and shareholder value generally of the Marketing professional to Managing Directors?
“Marketing is the trick of selling things people don’t want to buy”. “Marketing is another word for advertising”. If the profession was doing a good job why are these still common perceptions? Does recent market research show a fast eradication of these views? Are the Marketing profession taking enough steps to dispel conceptions and to enhance the profession externally? There seem to be more marketing bodies than in most professions but who are they marketing themselves to – no point in telling marketing people how good and important they are.
Marketing has potential to influence hugely, especially in these covid times. As a former finance director of multi-million-pound businesses I admit when things got tough my first cut was to the marketing budget. Was it really just me? Things are going to get tough out there. Time and money should be spent now in marketing the benefits of marketing externally to the profession.
In the pandemic adverts changed from “our product is great, buy it” to “we care about nurses, our product is great, buy it”. Short sighted and yet the pandemic is a real opportunity to influence. Whilst we are all captive what are marketing people doing to promote companies needing them more than ever now enhancing brand and longer-term shareholder value?
The Marketors are using this time to design a series of really entertaining webinar or fun interactive challenge sessions hiding the message of what marketing can do for you in this pandemic and strategically. We should customise these to individual livery companies or large companies trying to entertain remote staff. Too many serious lectures but surely now is the time for creativity and marketing?
Marketing benefits all? Why not market this concept externally?
This Thought Leadership blog is one of a series written by Marketors to provoke debate and help make marketing more relevant to businesses and society. If you would like to share your wisdom, please click here for details and how to get in touch.