Let me preface by saying this isn’t a textbook definition of ‘Marketing’. It isn’t how the American Marketing Association, or Proctor & Gamble, or even Apple would define it. This is Bob Leonard’s definition of ‘Marketing’ developed over many years of learning what works best for my clients – small to medium sized (SMB), information technology (hardware, software and/or services), business to business (B2B) companies.
Brand communicates the ‘personality’ of the company and its products and services. Some people mistakenly believe that brand must be communicated through advertising and other promotional activities. Not!
The C suite should define and communicate what a company is about, so employees understand and transmit the brand message. ‘Brand’ is communicated through all customer and prospect touch points.
I define Marketing as “anything that helps Sales close profitable deals”. Branding is a part of that, but only a part. It’s an input to the process of Marketing.
Marketing can be used as a tool to help management develop market strategies (for each product/service) – which are built upon detailed descriptions of target prospects. Once we know exactly who will buy each product and service, and why, we can determine the best
- messaging (benefit statements, value propositions, etc.)
- offers (what will make them take action?)
- vehicles (the most effective ways, online or off, to reach them).
Marketing can inject discipline into the Sales process. It can force the development of a strategy, plan and budget that eliminate one-off, shoot from the hip promotional efforts that do nothing to increase profitable business.
Marketing is a process that is composed of many parts. When conceived and executed properly, the return on investment is significant. Marketing is the planting of a seed, and the nurturing of that seed over time. Just as a farmer must water, weed and feed for months before reaping the benefits, Marketing takes time.
Marketing exists because Sales, by nature and due to compensation plans that reward short-term results, is unable or unwilling to perform that nurturing process. They just don’t have the time. Optimal results are achieved when Sales and Marketing work together. When each:
- understands what the other is doing and why,
- agrees on who is responsible for what, and
- can clearly articulate a mutual definition of a ‘qualified lead’.
Marketing performs demand generation activities, and hands off warm, engaged leads to Sales when the time is right. Sales can then spend its time nurturing relationships with current customers to deliver upsells and repeat business; and developing and closing profitable deals with qualified leads.
Over time, I’ve devised a methodology for developing and executing effective ‘Marketing’ for my clients. The basic format is: ‘Strategy. Content. Design. Tools/Vehicles. Test/Optimize.’ More in upcoming posts.
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