Perhaps more than any other business discipline, marketing is plagued with well-intentioned people who sometimes give questionable advice. That's because some people giving the advice do not fully understand what marketing is all about. Most think it's about sales or advertising or distribution. Very few understand that sound analysis forms the true foundation for the profession.
Whatever the reason for bad advice, an important question remains: How does the earnest marketing professional steer clear of junk tips and tidbits and find the golden wisdom that can really make a difference?
Below are three important tips to help you toward this end.
TITLES DON'T GUARANTEE KNOWLEDGE
Many marketing authors are featured in some glossy magazine or have been paid thousands to speak for 20 minutes to an eager crowd wearing khakis and polo shirts. The implication is that publication or position as a public speaker signals that the author will give sound advice. However, don't assume that wisdom flows from such distinctions.
Excellent marketers learn and understand the discipline's fundamentals, and then practice them in the field. Such best practices live independent of a person's background. I have seen countless examples of executives or consultants who preach marketing while fully ignoring the fundamentals that bring meaning and effectiveness to the profession.
Backgrounds, accomplishments and degrees are great. But don't mistake them for wisdom or good advice. Listen to what the person is saying and its validity from there - not from the letters following his or her name.
LOOK FOR FRAMEWORKS AND EXPECT NO ANSWERS
The March issue of Business 2.0 features an article titled "Seven Winning Business Strategies for the Long Haul." Hear me now: There's no such thing as seven winning business strategies for the long haul. The title is simply hype written to lure readers.
No part of business-- neither finance, accounting or, least of all marketing-- can be summed up in bullet points. Rather, business is a process that varies with each industry and with each business within that industry. The moment a business thinks in terms of pat rules and strategies is the moment it starts its own death spiral.
Good marketing advice teaches you to analyze your business or industry and from there derive your own conclusions and strategies. Every business has its own unique strengths, weaknesses, competitors, relationships with suppliers and buyers, and barriers to entry and exit. Embrace frameworks for analysis, not answers that worked for one firm but may not work for yours.
IT'S ABOUT ANALYSIS
A recent article in the business section of the Los Angeles Times featured an interview with a branding consultant. The reporter asked the consultant what the first step should be for anyone looking to brand his product.
The consultant said that the first step is - get ready for this - choosing a name.
A brand name is important, no doubt. But it's not the first step for anyone involved in a branding decision. Any credible marketer knows that all marketing begins with analysis - analysis of the customer, the company itself, and the competition. Choosing a name is merely one of the myriad marketing tactics that follows long after the analysis is complete.
This "consultant" failed to recognize that analysis allows you to choose a product name that leverages your company's strengths and permits brand extensions in the future. Unless it is rooted in the analysis of a specific firm, in a specific industry, facing specific competitors and customers, you might be left holding a bag of pyrite. Remember, real gold comes from good mining-- analyze first.
