Stop costing your firm millions in revenue
There’s a cancer spreading in business today: a mismatch of opportunities that are costing companies millions. I couldn’t believe how elusive it was. I’ll let you in on the secret, so you can see if it has made it to your organization.
Companies are treating their marketing departments as an adult day care. They place a recent college graduate in a cubicle and label them a “marketer.” We all know this person. They haven’t marketed or sold anything in their lives. But, a hiring director needed to fill the role and, voila! in comes the newbie.
This plague is rampant. Peter Drucker, famed management consultant and author, once said, “Because the purpose of business is to create a customer, the business enterprise has two -- and only two -- basic functions: marketing and innovation.”
He goes on to say, “Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.”
Now, tell me why would you place one with so little experience (life and work) in such a crucial position? Imagine hiring a summer intern to be your chief financial officer. That is what is going on in marketing.
The solution is to understand marketing at its core. Marketing is storytelling. Whoever can tell the best story wins.
Seek out great storytellers. Individuals who are lively and energetic. Couple these people with excellent managers that can guide that creativity. With energy and focus, your marketing will be effective.
Marketing creates customers. Customers drive revenue. That’s it.