Wednesday, June 10, 2009

The only two words that matter in marketing.

In the beginning, there were ideas. Those ideas turned into businesses. One person milled grain. Another made cheese. And another shaped metal. And then, in time the crafts began to specialize. The blacksmith profession split and some blacksmiths specialized in horseshoes and other specialized in making things like swords.

Businesses were built with refined purposes. For many, the business was driven by passion. The craftsmen and smiths took pride in their work and the reputations they had made for selling quality goods. Bigger businesses were formed to serve bigger needs.

Even today, we tell the story of great and passionate entrepreneurs whose drive and purpose guide companies to greatness. We wax of their focus and vision. We tell of their passion for their employees and customers. We pry through their histories hoping to reveal that magic blueprint for unbridled success.

But then something happened. Businesses began to separate from those focused purposes. Instead of intensely living out a passion or purpose, companies tried to manufacture the appearance of purpose. Companies separated from being focused on products, customers and experiences and became more focused on the mirage of celebrity executives, Wall Street roller coaster rides and disconnected branding veneer meant to hide aimless, purposeless and insatiable companies.

Mission statements went from being aspirations to a bunch of corporate puffery. Organizations no longer had concrete reasons for being other than creating the perception of making money. Brands became synonyms for the orchestrated trickery meant to persuade consumers that our products, services and companies are really something more than they really are.

At the same time and possibly instigated by the beckoning complexity of the finance and IT portions of business, marketing departments began to intoxicate themselves with all manner of potions and elixir cure-alls. Psychographic segmentation, media mix modeling, buzz worthiness, executive blogs and a whole host of other marketing malarkey helped sooth otherwise aimless and fruitless efforts by allowing everyone to look really busy.

In truth, there are only two words that matter in marketing: Promise and Trust. Your company has something distinct and differentiating about it, otherwise it would not exist. It is a promise to consumers. Understanding that promise is crucial to the point that you should remove everything that is in the way of carrying out that promise and accentuate the things that are helping. This means products, systems, people and processes.

A whole lot of successful companies do this without even knowing it. The reason why they do is because they start with a focused purpose and keep it potent. They manage the interaction with the customers and keep a level of attentiveness and transparency that consumer’s feel they can support. In short, these companies prove to customers that every dollar spent on the company’s products will result in the benefits promised and expected, be they functional, emotional or experiential.

Consumers want to know their investment of time; energy and any other resources will have the intended result. They want and need to know that what you are offering is not fully duplicated elsewhere for less money, will be worth their investment and will deliver the desired result. This is where trust comes in. People want to know they are making a wise choice with their resources. All the little procedures we do under the marketing umbrella are (or at least should be) aimed at increasing the trust that customer resources are well placed.

The goal of marketing is to build trust in the promise of the offering. It is that simple. No amount of marketing tactics will ever overcome the need of companies to make a compelling promise that they can deliver and then help consumers believe that promise. Consumers have always been and continue to be interested in getting the desired result for their investment. Offerings that clearly offer and pitch such will be successful.

The above material is part of a my forthcoming book and an accompanying presentation I am giving to marketers, marketing organizations and students. The presentation discusses the two crucial and often overlooked words in marketing in a 45-minute talk full of stories and examples. It is valuable to brand and general managers and those that advise on brand marketing activities. If you are interested in having me come talk to your staff, club or class email me at jeff@sn-ta.com