If there ever was a reason for me to write about the future of marketing, it was in 2009. The theme though is as alive today as it was then. Some argue little has changed, others state the new era has already arrived. And there is Nilofer Merchant (@Nilofer) who suggests Marketing is Dead and then comes up with 5 ways to replace it. All in itself these five ways are things I can relate to, but they don’t make it as replacements for Marketing, in my humble opinion.
In September 2009 I left Russia for Belgium, to work for Futurelab. By that time I had worked internationally for 5 years, but the prospective of seeing “the West” from inside was thrilling. I had little illusions, though: when you see audit results * of a huge multinational across the globe, you stop feeling so bad about your own country’s opaque methods of dealing with advertising money. However even those little illusions I had, were enough to give me a surprise.
Kodak is teetering on the brink of bankruptcy, turning to renting out space to tenants on its manufacturing campus, and shopping its 1000+ digital patents (selling intellectual property to stay in business is kind of like giving away your mind in order to stay sane).
In September I was invited by my friends from Evensysin Romania to talk about the ways FMCG brands could improve the performance of their sales promotions. When putting together my presentation (see below) I was heavily influenced by two factors. First, I had just published my new book, So You Want To Be Customer Centric? and my mind was still full of all the material I didn't get to use. Secondly, I've never really been a fan of the "buy more, buy cheaper movement", so I didn't really feel like talking about the ways to build a better sales promotion mousetrap.
Now, I won’t spend time arguing their arguments. I can see how they (and others alike) came to their conclusion. I’m just not so much of a guy that throws good stuff away. I like to try and see if I can fit what I think and see into the current framework. So here’s my perspective on the 4 P’s:
Did you know that socially engaged consumers spend more on brands than those people who don’t interact? That’s according to a new Bain & Company report, which studied social media and its role in marketing.
In case you haven't noticed, there's no shortage of creative thinking in the marketing world. We're awash with bold, innovative ideas that scuttle old ways of delivering content, while often times daring the truths that have survived the tests of generations (not to mention defying the laws of accounting and physical cause-and-effect).
Remember the good ol’ Nescafe Gold Blend adverts? Two lovers, intertwined in a web of passion, romance and instant coffee. Then there’s Nespresso, whose recent ads starring the debonair George Clooney call Nespresso the “rich, sensual, intense, unique” hero of the coffee world.