12 LAWS OF THE NEW MARKETING, Published on 2014-09-23 07:30
Recently, I was in addressing a group of senior marketers including CMOs and industry bigwigs. When discussion moved towards the ‘new marketing’, the room was filled with animated conversations on how excited they were, to be on social media. The chatter could broadly be summarized on these four lines, nothing more.
- “We are on Facebook”.
- “I (CMO) have a Twitter Account”.
- “We have asked our marketing team to post all our launches on Facebook”.
- “We hired a company that got us 3000 followers on Twitter”.
It is appreciable that they are thinking new-online-media, I was equally surprised to see that beyond those words, the ‘new-marketing’ had not changed much in the last decade. Most think of marketing as if we were in the 1960s – campaign planning, events, features, pipeline, sales stages and 1800-numbers – the core thinking had not changed.
This article is an attempt to share on how the laws of marketing have changed over the last decade, rapidly so in the last couple of years. It is not surprising that marketers are increasingly finding themselves irrelevant and customers are obnoxiously disillusioned with marketers.
A presence on a Facebook and Twitter and WhatsApp is only means to an end. What then are the ends? In this article I am going to focus on 12 simple laws that are applicable today more than ever before. Technology and social media makes it possible to adapt and adopt these laws with alacrity and ease.
The question you may want to ask yourself is “Do I have the will to change my perspective?” If you are game, read on.
Law #1 Th!nk engagements. RIP events
The days of holding mega events are long gone. Today your user wants to be engaged. Engaged with them. Period. They want you to be participate constructively in the decision making process. Events usually end up as one-way-traffic activity where the company talks about themselves and their products and audience made to just sit and wait and watch that circus. Today, physical boundaries have disappeared, and what you must think are online and offline engagements that you can have with your customers and prospects.
Law #2 Th!nk relevance; RIP specifications
Easier said than done, relevance is what matters. In this age where consumers can find your product specifications on the Internet whenever they want. What is important is to be relevant to that segment. The rest will follow.
Law #3 Th!nk qualified leads; RIP event attendees
Attendees in an event mean nothing. The measure of success for a marketer should be on the ‘qualified’ leads that sales can pursue. While, it is easier to use attendees as a metric, it is not the metric that your sales team will be proud of.
Law #4 Th!nk demand; RIP pipeline
The current models drive towards pipeline and sales stage. With the new models where the purchaser is constantly moving ahead in the ‘buying cycle’, because of their friends, family and social media, it is time to start focusing on creating demand. Pipeline will follow.
Law #5 Th!nk buying stages; RIP sales stages
Sales stages is a passé. It presumes that the company is controlling the sale because of their sales systems. This could not be farther from the truth. Today’s customers have their own ‘buying stages’ – from realizing need, being aware about the product, to understanding what it can do, to knowing how others are using to solve their problem, and what to expect – they have their own methods and evaluation stages. Think on how you will address the concerns in the buying stages.
Law #6 Th!nk pain resolution; RIP product feature
This is a cliché, but still relevant. You may just want to pick a newspaper, magazine or website ad and see the number of marketers that spend millions in imposing on you there product features. Did you ever care? As marketer, you must address this import question for your customer – WIIFM – (What is in it for me?) and you will never regret.
Law #7 Th!nk buyer concerns; RIP sales actions
The largest of companies still think and measure sales actions. The questions on their sales cadence is almost always on if the sales person has made the presentation, submitted proposal, given price quote. Try changing the metric to addressing buyer concerns by asking questions like ‘have we addressed his core pain’, ‘have we addressed his secondary pain’, ‘Have we given a solution in their budget’, ‘Does the customer feel assured that we will be with him’?. Tough questions, tough answers.
Law #8 Th!nk available; RIP reach out!
Being available is being able to provide the information, support or service when they want it where they want it. A lot of water has flown since the days when corporates said, I will reach out to my 100,000 users or 1000 customers. You must be available when they reach-out, not the other way round.
Law #9 Th!nk social online; RIP exclusive offline
We started with this. Being social online is not about having a Facebook account. It means engaging in conversations, solving problems and available online when they want it, on the medium they want. The words say it all – social: are you interacting and being sociable and; online- you are there when they need it and where they need it. Being exclusive may seem to work for exclusive million dollar cars and watches, but even for them, if your users are talking unflattering reviews online, you need to jump-in and fix it.
Law #10 Th!nk byte size message; RIP eight-page collateral
If you cannot communicate relevance and connect in 140 characters – forget it. In this day and age, users have a fleeting look on the headline and in all probability read no further. They research at their own convenience and seldom have time to read more than what is on the first screen of the mobile. So think communicating in that space, connecting, creating interest and assuring. Well 8-page collateral will be just that – for them to research and when they need to dig deeper. Coincidentally, and not surprisingly, the ones that spend time ‘reading’ your 8-page-collateral are already a super qualified lead.
Law #11 Th!nk enable and engage; RIP sell and scoot
Enable your prospects to make the right choice. Be a part of their decision making process. The days of sell and scoot are long gone and have taken many companies down in the last decade than ever in history.
Law #12 Th!nk informed decision making; RIP sell at any cost
Give your prospects the tools and links to that will help them in better decision making. Total-ownership-cost calculator, Mortgage Calculator, industry white papers, whatever helps. Be honest and guide them, unless you are a fly-by-night operator.
These are the 12 laws of the new marketing, are you listening?