The End of Marketing as We Know It

The "Good" – understanding that marketing is an investment not an expense, and a science not an art

I recommend that you read Sergio Zyman’s first book, "The End of Marketing as We Know It."   Sergio is
infamous as the guy responsible for the biggest flop in the history of marketing….New Coke.  He’s come a long way since then and now runs one of the top marketing consultancies in the country.  While his book is primarily about consumer marketing, the lessons within are applicable to B2B marketing as well.  I was hooked by the first sentence of the first chapter.

"The sole purpose of marketing is to get more people to buy more of your product, more often, for more money."

It’s a simple but powerful definition of marketing, and I love it because it reminds people that marketing is a critical strategic function and not just a tactical group that does advertising, promotions and PR.  Here are some other key takeaways from the book.

• When you understand that marketing is what you do to sell stuff, then
  the money that you lay out is an investment instead of an expense.
• The marketplace today is a consumer democracy. Customers have options, so marketers have to tell them how to choose.
• Plan your destination.  Make it where you want to be, not where you think you can get.  Once you have your destination, develop a strategy for getting there.
• Marketing is a science.  It is about experimentation, measurement, analysis, refinement, and replication.  You must be willing to change your mind.
• Figure out what is desirable and make that what you deliver; or figure out what you can deliver and make it desirable.  But remember, the former is a lot easier than the latter.
• Sameness doesn’t sell.  The value of your product will be determined by its differentiation from the competition in ways that are relevant to customers.
• Measure constantly but use the right yardsticks; focus on profit, not volume; on actual consumption, not share of market.
• Don’t be blinded by visible demand.  Preference is perishable.  Keep selling the sold.
• Strategy is your job, not the ad agency.  You agency’s job is to communicate it effectively.
• Find the best available marketing professionals and create jobs around them.  You’ve got to have the best people, not the best organization chart.
• Make sure everyone in your organization understands the destination, the business objectives and the strategy.  Then let them execute.