Marketing, is it an art or a science ? MBA programs try and teach marketing with spreadsheets but it’s hard to quantify consumer purchase behavior because there really isn’t any one rational reason that consumers choose certain brands. What I have also seen in my experience is that a lot of marketing people are really good at piling it on. There are very few really great marketing people because most of them are more interested in their title or getting their names in the press than they are in moving brands forward.
Let’s be honest, what you learned in school about marketing is wrong. They are wrong because they ignore the power of today’s consumer because of the Internet. An angry consumer, or group of consumers, can take down a brand’s marketing campaign with a post in social media yet marketers still make stupid mistakes.
There is a lot of really bad marketing out there and with it a lot of wasted dollars. Why? Two reasons, first marketers’ inability to translate data into actionable recommendations for THEIR brand and second hiring people who “fit in” rather than hiring people who are passionate about what they do.
Have you ever watched a TV commercial and wondered “what in the hell were they thinking?” or been in a store and seen some really bad packaging or product placement ? Despite the emphasis on ROI there is still a lot of marketing dollars being wasted on things that don’t add value to the brand or customers. I would even go as far to say there is still way too much emphasis on the “business of marketing” instead of on customers. Here is my list of why there is still so much bad marketing.
How many times have you heard the expression “we need a deck…” ? This usually means countless hours of working on a Power Point presentation that is likely to be edited and reedited wasting your time while consumers and customers pass on your brand because you’re too busy creating a presentation. I have been in Power Point hell creating decks as long as 80 pages and it’s not fun. The worst seems to be when someone in the process decides to remove key data or insights. Here are some suggestions to market your Power Point internally and get your audience to come to the conclusions you want them to come to.
The research findings are consistent: senior executives want proven ROI from marketers. This is not only the new mandate for marketers it applies to agencies as well. (78 per cent) CEOs do not trust their advertising and media agencies to create effective campaigns because they have lost faith in their ability to deliver performance-driven results, according to a report. More than three quarters (76 per cent) of chief executives feel agencies are too “inward looking” and talk too much about “creativity as the saviour” without being able to quantify the impact their work has had on business results, according to the Fournaise Marketing Group. It reveals bosses believe their advertising partners are “too quick” to take credit for results they can not prove they have had a direct impact on and are often “too opportunistic. Add it up it means the “business” of marketing has to change.
Three quarters of marketing strategies and ad campaigns under-performed during 2014 as new research claims they failed to deliver the positive business results – increased sales, greater market share, sales prospects or conversions – that management had expected. This is news?