Marketing mostly fails. Most new products fail. Most innovations fail. Most ads underperform. Most algorithms yield marginal improvement. It’s like baseball. Hall of Fame pitcher Goose Gossage said once that “baseball is a game of failure. A .300 hitter, a superstar, fails seven out of ten times.”
How does marketing contribute to your organization? All business functions are highly varied and require multiple talents. Marketing, however, may be among the most diverse of business disciplines in terms of the range of skills, knowledge, and responsibilities that define it.
Despite what you may read in the popular press and even in some academic treatises, customers are not morons who are easily fooled. Anyone who has had serious experience in sales or has sat across a negotiation table knows just how smart customers are. However, even the most experienced marketing manager and salesperson may not understand the decision making of customers. With experience as buyers, customers develop very rational and habitual decision rules. Understanding these...
In a recent marketing report, Deloitte, the multinational professional services network, shared information from its Global Marketing Trends Executive Survey. At the core of the discussion – Building the Intelligent Creative Engine – How unconventional talent strategies connect marketing to the customer – is how to generate and integrate creativity while needing the analytic skills massive data require. The upshot was CMO’s should build collaborative teams of people with different skill sets. With the inundation...
A study carried out in 2019 by marketing and advertising effectiveness researchers Les Binet and Peter Field for LinkedIn’s B2B Institute called 5 Principles of Growth in B2B Marketing, found that some of the key rules for effectiveness in B2C marketing also apply to B2B. It concluded that five practices in particular – routine to B2C marketers – are also common to the most effective B2B marketing case studies while hardly being utilized by most...
