- Aug 1, 2014
- 1 Comment
Is marketing mainly about putting lipstick on the pig? A recent survey into the points of view held by CEOs, on marketers, revealed that on the whole they do not trust the marketing department. The top four reasons given in were;
1) 77% of… Marketers talk about brand, brand values, brand equity with little connection to revenue or sales
2) 74% of… Marketers focus too much on the latest trends such as social media but can’t demonstrate how these help generate business
3) 73% of… Marketers asked to increase ROI, understand it as cost cutting instead of more revenue, more sales, more prospects, more buyers
4) 71% of… Marketers still focus too much on the latest trends, forgetting that “New Media”, “Marketing Automation”, “Omnichannel” and “Big Data” are just tools (the “Form”) used to deliver
It was found that CEOs believed marketers tend to think that using New Media Channels is the best way to get their campaigns/activities to deliver results.
However, the same marketers were also found to spend less time and effort researching, developing and testing attractive and relevant value propositions for their product and communication initiatives. As a result their performance (on average) was found to be three times lower than CVP (Customer Value Proposition) focused marketers who used the same channels for their delivery. In addition, marketers were seen to be drawn to the “buzz-words” of “customer experience” and “engagement” without really understanding what it takes to achieve these. As a result (70%) of marketers were convinced Marketing Automation, Omnichannel executions and Big Data management would be “game-changers” and spent more of their time, efforts (and money) on these areas during 2013.
As a result, work on crafting and optimising the value proposition was overlooked.
79% of these marketers apparently admitted that they still failed to unquestionably prove their marketing spend delivered the level of business results and ROI expected of them by their management.
The key issue is that many marketers have forgotten everything must start with the right Customer Value Propositions (CVP) and Architectures – without them, talking about “customer experience” and “engagement” is a big waste of time.
Here at Interrelated we help marketers craft and optimise their customer and product value propositions. We often refer to this as the ‘brand promise’ and believe that it is only by taking time to get this right first (especially before you turn the volume up on your communications) that a business will really achieve the objective of enhanced “customer experience” and “engagement”.