Why? Why is it so damn hard to make marketing work consistently and reliably?
You might argue that the challenge lies in the very dynamic markets we operate in. Shifting sands are the rule, not the exception. No sooner do you get your feet under you than your knowledge is antiquated by the latest disruptive force.
Could be that marketers are in a constant state of experimentation, always in search of the magic combination of message and tactics that “move the needle”.
Or perhaps it’s the absence of good “raw materials”. Maybe we’re just reflecting the frequency with which we are given uninspired products with no news value and no clear differentiation.
But lately I’ve been thinking that it’s because of two key factors:
- Marketing involves integrating the left and right brains – something that very few people are capable of. It requires an ability to think conceptually and unencumbered by the present realities, yet to evaluate critically in a rigorous way. Without the former, we fail to innovate; without the latter, we fail to focus. Moreover, it takes more than one person in an executive committee who can actually do this two-brain thing to notice and approve a good idea when one hits the table. Odds of there being a quorum of such people in any one boardroom are long indeed, given that executive committees normally include strong left-brainers from finance, IT, and manufacturing/operations. No judgment here, just an observation.
- Marketers tend to be more right brain than left. They enjoy concepts and creativity and innovation and inspiration, but not the repetitive types of analysis that tend to extract true insights from the cacophony of marketplace response. Many don’t have the patience for disciplined experimentation and continuous improvement, preferring to “try new things” and make a name for themselves within their industry.
- Gains in market share do not often lead to gains in profitability in either short- or long-run.
- Changes in pricing have approximately 26 TIMES the impact on sales as changes in advertising spend levels.
- Changes in sales budgets have more than 3 TIMES the impact on sales compared to changes in ad spending.
- If advertising doesn’t work in the short term, it will NOT work in the long term with more exposure.
When we get marketing “right”, we make it really HARD for OTHERS to immitate. That’s why the big marketing victories are so transformative for companies (and careers). If we got just a little better at standing on the knowledge shoulders of our marketing forefathers (and mothers), we might actually get it “right” more often, and make it harder for THEM to catch up with us.
Pat LaPointe is Managing Partner at MarketingNPV – specialists in measuring the payback on marketing investments, and publishers of MarketingNPV Journal.