Are You Still Using The Marketing 5Ps? Move To The Improved 7Qs.

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Marketing is a great profession and the marketing 5Ps is the code by which we live. I’ve worked in or with marketing teams for almost my whole career and I am passionate about brand building.

From the outside, others see marketers as those who come to work late and seem to party all night. They always seem to be watching TV or jetting off to exotic places to talk about advertising!

For people working in operations or finance, marketers just don’t seem to be doing a very serious job; they’re always having too much fun! I’m sure you’ve already heard such comments.

Well, as you yourself know, marketing IS fun, but it’s also a lot of hard work, often close to 24/7 on some occasions.

So does all that hard work pay off? Not often enough in my opinion. And why? Because marketers simply don’t always ask the right questions!

 

The 5 Questions Marketers Should Ask

If you work in marketing, you already know the 5Ps – people, place, product, price and promotion. However, the problem with those is that when you find an issue with one of them, you know the “what” but not the “how”.

So I suggest you work with my 7Qs instead. Each of my seven questions explain not only what to check, but also the how and why you need to examine the area.

And if you can’t immediately answer more than just a couple of them, then perhaps you need to do a little more work and a little less partying!

 

Q1. Who are your customers?

People is the first of the marketing 5PsThe first “P” stands for people and often this is taken to be “Do you know to whom you are selling?” The answer is always yes and that’s accepted as sufficient.

Instead, ask yourself who your customers really are. I don’t mean just their demographics, but what, where and how they use or consume your brand and the category in which you are competing. And especially the why of their attitudes and behaviours. If you can’t give all these details about your customers, then you’re in serious trouble.

For more on this topic, see  “12 things you need to know about your target customers” for details on better defining your customer persona. You will also find a link in the article to download a useful template you can use to store all your information as you gather it. 

 

Q2. How are your customers changing?

Hopefully, you answered Q1 without any hesitation – you did, didn’t you? Did you also download our template and complete it? Many of my clients find it a useful way to store and rapidly access the information whenever they need it.

It’s great that you know a lot about your customers, but people change. Are you following how your customers are changing? Continue Reading

The Future of Brand Building is Customer Centricity

Marketing is an old profession. It’s been around for hundreds of years in one form or another. But with the advent of digital in the early 80’s, companies began taking a serious look at their marketing strategies.

Many organisations realised that it was time for a major overhaul of their primarily outbound strategies. Consumers no longer appreciated being interrupted in their daily lives, if they ever did!

However, even today, with the creation of inbound marketing strategies, they are still irritating their customers with spammy emails, intrusive pop-ups and over-complicated cookies, that gather far more information than most organisations will ever need or use.

Despite these changes CMOs remain one of the leading c-suite members who struggle to keep their jobs for more than four or five years. The reasons are many, but the post “Head of Marketing, How Can You Keep Your Job When Most CMOs Are Losing Theirs?” explains what you can do to ensure you only leave your position when you want to.

 

Brand Building

Many large CPG companies, such as P&G, Coca-Cola and Nestle, have changed the name of their Marketing departments in the past twenty years, to Brand Building. They hoped that it would revive sales and give new vitality to their communications to better engage their customers in the new social world. But most failed miserably, because they remained very much in a state of business as usual. They continued with the same processes and mind-sets. And with few exceptions, they prioritised thoughts about themselves and their brands, and rarely took their customers’ perspective.

Luckily a few other consumer goods companies realised that to satisfy the consumer they had to do things differently. They were the ones that moved to customer centricity. Or to be exact they started on their journey towards putting the customer at the heart of their business. Customer centricity is not a destination, because consumers are constantly changing and their satisfaction never lasts for long. It is a journey with the aim to satisfy and delight.

I think we have taught our customers far too well! They understand a lot more about “marketing” than they used to. They understand that companies have marketing plans and regular promotions, so they wait for the next price offs whenever they can.

They also realise that in today’s world, products have become more and more similar. Their format, colour or perfume may differ, but there are strong similarities in their performance.

That’s why consumers now often have a portfolio of brands from which they choose in many categories. They are far less likely to be loyal to only one brand than they used to be.

 

They have also come to expect constant innovation as they quickly adapt to the once novel idea and start searching for the next big improvement. According to Accenture’s “ Customer 2020: Are You Future-Ready or Reliving the Past?” almost a half of consumers believe that they are more likely to switch brands today compared to just ten years ago! Continue Reading

How to Update Your Marketing with a Customer First Strategy

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All marketers know their marketing 5Ps, but how do you update your marketing when you adopt a customer first strategy? Here are some tips and ideas for you to adopt – or adapt.

 

People

This is the easiest of the marketing 5Ps for a customer centric organisation to adapt because a customer first strategy is all about your customers. However, in recent years, there has been a lot of talk about the importance of employees, some even suggesting that they are more important than customers!

I discussed this in detail in a post a couple of months ago, called ” Customers Care About Products & Value, Not Employees.” Click the title link to read my perspective on this topic.

The 4W template is useful for the new marketing 5Ps.

Personally, I believe that customers are your biggest asset, as they are the ones who pay your wages and make your business thrive. It, therefore, makes sense to know them intimately. If you have a different perspective I’d love to hear it; just add a comment below.

In C3Centricity we use the 4W™ Template to record and describe the customer personas of our clients’ brands.

If you still haven’t downloaded our FREE persona template, CLICK HERE to get your free copy and instructions.

In addition to knowing and describing your target customers in detail, the other tip I give when you want to update your marketing when you adopt a customer first strategy. is to start and end every meeting by asking the “magic question.” What is it? It is this: “what would your customers think about the decision you have just taken?”

This one simple idea is incredibly powerful in identifying actions which are not customer centric. I will give examples of these in the remaining 4Ps below.

So a customer-centric approach to your customers is both thinking about them in every action you take, as well as knowing them as deeply as you can and keeping this knowledge constantly updated.   

 

Product

This is often seen as the most important to address when you decide to update your marketing. After all it is what you are selling. It is also the one thing you think about day in and day out. But it’s not the most important in a customer centric organisation. Surprised?

Think about it for a second. Without knowing the P for people in great detail, you won’t be able to optimise your offer in terms of the other four Ps. That’s why it’s a customer first strategy that works better than any other.

Here are some examples of how companies realised they get their product wrong when adopting a customer first strategy and a couple of right actions for inspiration: 

Continue Reading

Are P&G Right to End Marketing?

In the last couple of weeks, there has been a tremendous amount of discussion around P&G’s decision to change marketing into br and management.

The consumer products world closely watches whenever P&G announces changes, whether to their strategy, marketing or in this case their organisational structure. As this AdAge article (herementions “P&G seems well out in front of the rest of the marketing world — or what used to be known as the marketing world — on this”.

As businesses have become more social, there have been a lot of articles about marketing. Some have spoken about the need for marketing and IT to get together, if not even merge in some way (See this Forbes article). Others have proclaimed the end of the CMO’s position altogether, including the infamous piece by IMD’s President Dominique Turpin “The CMO is Dead ..… Welcome to the CCO. Then there have been even more articles challenging marketing to show their worth and suggesting metrics to prove their ROI (See  Fournaise 2011 study of 600 CEOs or  Forrester’s Marketing Performance Management Survey).

The fact that there have been so many different pieces on the topic over the last year or so, suggests to me that marketing is still vital for and extremely attractive to business, but that it is in desperate need of reinventing itself. I believe this is behind P&G’s move.

At the end of last year I wrote a post proposing what I thought would and wouldn’t change and what needs to. Six months on, in light of P&G’s announcement, I thought it useful to review my list:

What will change

  • Marketing can no longer work alone in a silo; it needs to become more collaborative and more commercial or business oriented. It can no longer remain fuzzy and hide behind claims that its ROI is difficult to measure.
  • anding customer service opportunities” width=”375″ height=”226″ />The sales funnel will be (has already been) replaced by the purchase decision journey, which will be a multi-layered, flexible representation of the route to purchase. For more on this, read “How Great Customer Service Leads to Great Customer Loyalty”.
  • Advertising  and messaging TO the customer will be replaced by valuable information made available FOR the customer. In line with the longer sales journey and multiple online consultations, communication will become more informative, more useful, more timely.
  • Local will no longer be geographic but “Native”. Whether it’s language, habits or interests, customers will be targeted on their similarities that will rarely, if ever, include geographical proximity.
  • Mobile web consulting will become the norm, so br and sites need to become adaptive. Content will aim to inform, educate and entertain first and foremost, rather than sell, and websites will become flexible and adaptive to the differing screens and customer needs.

What won’t change

  • The customer is still the king, but content joins the ranks in almost equal position, needing more respect and value, and less commoditisation.
Continue Reading

The 10 Laws of New Marketing

Earlier this week, I gave a short presentation to a group of top marketing and communications experts on the topic of new marketing. If you want to know what I shared about the new customer and what it will change for marketing, then read on.

The meeting was the second part of a series of talks on building great br ands and most of the presentations were from creative agencies and global br and builders. I had perhaps the less enviable task of speaking about the new dem ands on us all as marketing and communications experts, and the things we are going to have to consider because of the new environment in which we work.

Following the very lively discussion after my presentation, I realised that we could all do with revising the unspoken laws of marketing and communications to meet the desires of these new customers, so here are my ideas, with apologies to any resemblance to the original decalogue:

 

#1. You must not have any other customer but me

Customers want to be treated as individuals and although we marketers may be segmenting and communicating to target groups, we should always treat customerson a one-on-one, personalised basis whenever we can.

 

#2. You must not take yourself seriously

Sometimes we get so tied up in what we are doing and our perceived importance of it, that we forget that our communications are just one of a very large number that our customers will see in a day. How many? Well guestimates range from 250 to 20,000, but who knows? What is more important to underst and is that it is their resonance and emotional link to our customers that matters, not how much we like them.

 

#3. Do not misuse the name of your br and

Our br and means something to our customers and it is essential to underst and what that is; what personality it has and how it fits into our customers lives. Their loyalty builds an intimacy with br ands that they will protect ferociously if we try to make (too many) unwelcome changes. As examples take the infamous failed launch of New Coke, or Cailler’s experience when trying to revamp their packaging.

 

#4. Remember to never observe a day of rest

Our customers expect to be able to connect with us on their terms. This means whenever, wherever availability, with the exact information and answers they need at that particular time. Don’t miss the opportunities given to you by your customers to communicate, by doing it in the wrong way, place or time, or even worse, not being available at all.

 

#5. Honour your parent br and

Many br ands in your portfolio are part of a family of products; some may even stretch across categories. Ensure that your br and messages, tone and content are coherent and complimentary. If you are using your company name in addition, remember that it’s image will also have an additional role in image building. Continue Reading

New Marketing is Here – Are YOU Ready?

I was recently asked to speak to some MBA students about what has and will change in the life of a marketer and what additional skills they must have to be effective today. Here is what I told them, but I would love to hear your own thoughts on this important question.

Marketing used to be considered one of the most creative parts of a business. Marketers were seen to arrive late in the office after what was assumed to have been another dinner with one of their agencies in one of the best restaurants in town. As if that image was not bad enough, they were also accused of going to fancy conferences in exotic places around the world that most employees only dream of visting. Whilst I am sure a (lucky) few had this lifestyle, the majority of us worked hard and late, and usually also put in hours at weekend to ensure promotions and events were successful.

Today marketers are challenged with a new world, a world where the customer is in control; where marketing is no longer (only) creative, and they are required to have many more skills to be successful, the following three in my opinion, being the more important:

1. Actionable Insight development

When a marketer needs information, he usually asks the marketing research department to run a study to gather the data. The results are presented and marketing takes a decision based on them – or not!

In many organisations today, the market research department has exp anded and now gathers information on the customer, the shopper, the competitor, in fact all areas of the market in general.

In the last ten years we have seen the growth of insight development, where multiple studies and other sources of data and information are integrated with internal knowledge to develop insight. Suddenly marketers not only communicate with, but now actively search out the opinions of their colleagues in R&D, operations, sales, purchasing etc when making a decision about how best to satisfy their customers.

2. Customer connection

Media choice until recently was pretty limited: TV, print, radio and outdoor – what is now referred to as traditional media. In addition, companies connected with their customers through their care centres, promotions, events and sponsorship. With the growth of the internet and social media, connecting with the customer has exp anded in possibilities, which makes the need for consistency not only more difficult, but also more important.

Customers expect to be able to choose where, when and how a company connects and communicates with them. They decide when to watch their favourite programs, often without advertising breaks, at an hour that suits them rather than at the programmed time and often not even on a television any more, but on a computer, tablet or mobile screen.

Marketers are therefore challenged to be available 24/7 for their customers and any frustration when this doesn’t happen is very quickly shared with the world at large.

3. Information integration

With the expansion of media comes also an explosion in information. Continue Reading

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