If Marketing is A Stock, How Much Would You Value It?
Engage a marketing team for as little as $1,000 monthly.
You don’t need a CMO; you just need to tap on Gen AI to do your marketing for you.
Start-Ups don’t need a CMO or Experienced Marketing Leader; just hire a fresh graduate or a junior marketer since you as a Founder Can Do Everything!
Some horror stories I have been reading from LinkedIn either through people’s comments, posts or articles. I also had stories shared with me recently when I spoke with some junior marketers who are working for start-ups or micro businesses.
Let me turn this around for a moment and see how it makes you feel, if you are say a CEO, COO, CDO or whatever C-suite person who is likely to be a Founder of the next flashy app or platform or business:
Engage an IT team for as little as $1,000 monthly to develop and maintain the app for you.
We don’t need a CEO/COO/CDO; just hire a fresh graduate or junior sales/operations/digital manager to do your job.
It seems marketing is the single most replaceable or redundant job in any given company.
It also seems everybody and anybody can and knows marketing.
It’s the easiest skill to master in the world of business, sales, HR, IT, Data, operations, finance….the list goes on.
Perhaps it’s a bad encounter with a bad marketer. Or perhaps you actually have zero idea of what marketing can and should be doing for your business.
In any case, I feel sorry for you but as the saying goes, pay peanuts and get monkeys.
Companies need to be realistic and cognizant of the fact that the level of contribution and value of that contribution comes with experience in the field. There is no shortcut to it. Similar to any profession, the more experience the person has, especially across their own field, across the same and/or different industries and even across different countries, the more valuable the contribution.
This is different from say someone who has stayed on in their marketing position in the exact same company and same portfolio for decades and hasn’t learnt anything new, achieved anything new or launched anything new. It’s like a chef cooking the exact same dish year on year and not changing the menu at all - stale.
But to have the unrealistic expectations that a junior marketer should be able to think and act like a seasoned marketer, the shame is on you, not them.
In essence, a good and seasoned marketing leader can add value and provide guidance around:
customer acquisition, retention and sales enablement strategies
customer experience and lifecycle management
market and customer research and user testing needs
omni channel engagement and experience management
insights that can be gathered from customer data as well as interactions with your channels
shaping your product and business proposition, including providing opinions on areas for improvement
These are also tenets of core marketing functions and dependent on the exposure the marketer has had over the years of working across different portfolios, companies or industries.
About the Author
Mad About Marketing Consulting
Ally and Advisor for CMOs, Heads of Marketing and C-Suites to work with you and your marketing teams to maximize your marketing potential with strategic transformation for better business and marketing outcomes.
So You have Won an Award But….
Everyone loves awards, especially reputable ones from renowned associations.
Marketers love our awards for sure as it’s something that most of us probably toiled hard for and spent long hours putting together the campaign strategy behind it. But if you ask the business and start flashing the trophy in front of them, they might just go “erm good but where’s the sales?”.
In such a scenario, before you start conjuring up images of Tom Cruise in Jerry Maguire saying “show me the money” and depending on what’s the reality of the connect versus disconnect between your campaign outcomes versus business outcomes, try asking yourself the following questions:
What else did I achieve in reality besides marketing outcomes like engagements, interest and conversions based on people who interacted with the campaign?
What did it really look like in terms of sales demand, leads generated for sales and/or sales opportunities, if not actual sales?
If it looks bad, why is there a disconnect between marketing and sales outcomes? Was it a product proposition problem or marketing positioning problem?
The truth is, marketing awards to me, having being a judge for a few different awards now, should be tagged hand in hand to business outcomes.
Marketers shouldn’t be winning awards for their own vanity but rather, the award is the cherry on top of the cake as a reward for a successful campaign that helped to achieve business outcomes. And these business outcomes in turn helped to solve customer problems and address their needs.
Else, you end up with a flashy trophy but still get hammered for not helping business to create sales demand and opportunities. And guess what, your marketing budget still gets cut at the end of the day as business still sees a disconnect between what marketing does and what business wants. Business would rather spend it on product research and development than marketing awards as such award submissions certainly don’t come cheap!
Marketers should therefore take greater pride in being strategic advisors to the business and work with them to strengthen their product and service proposition. Bring in a neutral perspective of the target customer and make sure it is a proposition that is compelling even to you. Else, no marketing campaign can salvage a bad product proposition.
Then, you can go focus on winning awards and actually take pride in it.
About the Author
Mad About Marketing Consulting
Ally and Advisor for CMOs, Heads of Marketing and C-Suites to work with you and your marketing teams to maximize your marketing potential with strategic transformation for better business and marketing outcomes.