Marketing By the Numbers

At its core, marketing is a numbers oriented profession. We segment the market and size it.  We worry about demographics and demographic trends.  We do statistically significant market research (or, at least, we should).  Marketers are given to counting the number of hits, likes, connects, and follows.  We are constantly looking for new and more…

7 Simple Rules for an Effective Marketing Program

Marketing seems to be getting more and more complicated.  There is an ever-expanding universe of ways to try to reach out to prospects.  Segmenting the marketplace now includes categorization by means of communication on top of the traditional demographic profiles.  Marketing specialties are multiplying. What’s an entrepreneur or small- to medium-sized business to do?  There…

Aiming for Mediocrity

Aiming for Mediocrity A key element in business in general, and in marketing in particular, is differentiation. Differentiation is what tells the world what sets you apart from others in your space and tells the marketplace why people should spend their money with you.  It doesn’t matter whether you are in a consumer industry or…

Why CMOs Don’t Last

Why CMOs Don’t Last The typical CMO tenure these days is about 3½ years.  This is up from about 23 months in 2004, but it is still way below the average CEO tenure of 7-9 years.  This data, from Spencer Stuart, is for leading consumer companies.  (B2B CMOs often don’t fare even this well.)  And…

The Bureaucratization of Marketing

The Bureaucratization of Marketing  It’s getting ridiculous.  Everyone wants to be a chief. First we had Chief Executive Officers and Chief Financial Officers.  Then we got Chief Information Officers.  Now we have Chief Marketing Officers. But clearly that is not enough.  Now I hear calls for Chief Customer Engagement Officers.  I’ve even seen a discussion…

Messaging Management or Cognitive Dissonance?

Messaging Management or Cognitive Dissonance? In dictionary terms, mixed messages are when someone is getting different opinions or answers from the same source. In psychological terms, this causes “cognitive dissonance,” the feeling of discomfort that comes from holding two (or more) conflicting views. This is a concept that marketers and brand managers ignore at their…

4 Common Barriers to Marketing Success

4 Common Barriers to Marketing Success Successful companies generally become successful by finding their own unique way of approaching the marketplace, interacting with and satisfying customers, and providing goods and services that fill a need. They become successful by breaking the rules, not by following them. Then their methods become fodder for pundits and academics…

Defining the Product Life Cycle

Defining the Product Life Cycle The product life cycle, for marketing purposes, is usually defined as having four stages:  Market Introduction – where the costs are high, the sales are slow, and revenues are dismal.  Growth Stage – where there are increasing economies of scale, reducing costs. But at this stage, competition starts…

Are We Asking the Right Questions?

Are We Asking the Right Questions? For all the discussions, Webinars, articles, and blogs on social media, we always seem to come back to traditional marketing questions. ♦        How can we engage our followers and visitors? ♦        How can we increase our conversion rates, i.e. turn visitors and followers…

Marketing A Service

Marketing a Service We are told that we live in a service economy. More economic activity revolves around services than around buying and selling goods. But a service is a strange thing. You can’t feel it, see it, or taste it. And you can’t transfer ownership of it. So how do you sell it? Well,…