{"id":251,"date":"2012-08-12T00:00:58","date_gmt":"2012-08-12T00:00:58","guid":{"rendered":"http:\/\/www.outtoclarify.com\/?p=251"},"modified":"2012-08-12T00:00:58","modified_gmt":"2012-08-12T00:00:58","slug":"marketing-dead","status":"publish","type":"post","link":"https:\/\/expioconsulting.com\/expiostaging\/marketing-dead\/","title":{"rendered":"Marketing Is Dead"},"content":{"rendered":"

\"\"<\/a><\/h1>\n

by Bill Lee\u00a0\u00a0|\u00a0\u00a0 3:00 PM August 9, 2012 \u00a0| \u00a0Harvard Business Review\u00a0<\/a><\/p>\n

Traditional marketing \u2014 including advertising, public relations, branding and corporate communications \u2014 is dead. Many people in traditional marketing roles and organizations may not realize they’re operating within a dead paradigm. But they are. The evidence is clear.<\/p>\n

First, buyers are no longer paying much attention. Several\u00a0studies\u00a0<\/a>have confirmed that in the “buyer’s decision journey,” traditional marketing communications just aren’t relevant. Buyers are\u00a0checking out product and service information in their own way<\/a>, often through the Internet, and often from sources outside the firm such as word-of-mouth or customer reviews.<\/p>\n

Second, CEOs have lost all patience. In a\u00a0devastating 2011 study\u00a0<\/a>\u00a0of 600 CEOs and decision makers by the London-based Fournaise Marketing Group, 73% of them said that CMOs lack business credibility and the ability to generate sufficient business growth, 72% are tired of being asked for money without explaining how it will generate increased business, and 77% have had it with all the talk about brand equity that can’t be linked to actual firm equity or any other recognized financial metric.<\/p>\n

Third, in today’s increasingly social media-infused environment, traditional marketing and sales not only doesn’t work so well, it doesn’t make sense. Think about it: an organization hires people \u2014 employees, agencies, consultants, partners \u2014 who don’t come from the buyer’s world and whose interests aren’t necessarily aligned with his, and expects them to persuade the buyer to spend his hard-earned money on something. Huh? When you try to extend traditional marketing logic into the world of social media, it simply doesn’t work. Just ask Facebook, which finds itself mired in an\u00a0ongoing debate\u00a0<\/a>about whether marketing on Facebook is effective.<\/p>\n

In fact, this last is a bit of a red herring, because traditional marketing isn’t really working anywhere.<\/p>\n

There’s a lot of speculation about what will replace this broken model \u2014 a sense that we’re only getting a few glimpses of the future of marketing on the margins. Actually, we already know in great detail what the new model of marketing will look like. It’s already in place in a number of organizations. Here are its critical pieces:<\/p>\n

Restore community marketing.<\/strong>\u00a0Used properly, social media is accelerating a trend in which buyers can increasingly approximate the experience of buying in their local, physical communities. For instance, when you contemplate a major purchase, such as a new roof, a flat screen TV, or a good surgeon, you’re not likely to go looking for a salesperson to talk to, or to read through a bunch of corporate website content. Instead, you’ll probably ask neighbors or friends \u2014 your peer network \u2014 what or whom they’re using.<\/p>\n

Companies should position their social media efforts to replicate as much as possible this community-oriented buying experience. In turn, social media firms, such as Facebook, should become expert at enabling this.<\/p>\n","protected":false},"excerpt":{"rendered":"

by Bill Lee\u00a0\u00a0|\u00a0\u00a0 3:00 PM August 9, 2012 \u00a0| \u00a0Harvard Business Review\u00a0 Traditional marketing \u2014 including advertising, public relations, branding and corporate communications \u2014 is dead. Many people in traditional marketing roles and organizations may not realize they’re operating within a dead paradigm. But they are. The evidence is clear. First, buyers are no longer paying much attention. Several\u00a0studies\u00a0have confirmed that in the “buyer’s decision journey,” traditional marketing communications just aren’t relevant. Buyers are\u00a0checking out product and service information in their own way, often through the Internet, and often from sources outside the firm such as word-of-mouth or customer reviews. Second, CEOs have lost all patience. In a\u00a0devastating 2011 study\u00a0\u00a0of 600 CEOs and decision makers by the London-based Fournaise Marketing Group, 73% of them said that CMOs lack business credibility and the ability to generate sufficient business growth, 72% are tired of being asked for money without explaining how it will generate increased business, and 77% have had it with all the talk about brand equity that can’t be linked to actual firm equity or any other recognized financial metric. Third, in today’s increasingly social media-infused environment, traditional marketing and sales not only doesn’t work so well, it doesn’t make sense. Think about it: an organization hires people \u2014 employees, agencies, consultants, partners \u2014 who don’t come from the buyer’s world and whose interests aren’t necessarily aligned with his, and expects them to persuade the buyer to spend his hard-earned money on something. Huh? When you try to extend traditional marketing logic into the world of social media, it simply doesn’t work. Just ask Facebook, which finds itself mired in an\u00a0ongoing debate\u00a0about whether marketing on Facebook is effective. In fact, this last is a bit of a red herring, because traditional marketing isn’t really working anywhere. There’s a lot of speculation about what will replace this broken model \u2014 a sense that we’re only getting a few glimpses of the future of marketing on the margins. Actually, we already know in great detail what the new model of marketing will look like. It’s already in place in a number of organizations. Here are its critical pieces: Restore community marketing.\u00a0Used properly, social media is accelerating a trend in which buyers can increasingly approximate the experience of buying in their local, physical communities. For instance, when you contemplate a major purchase, such as a new roof, a flat screen TV, or a good surgeon, you’re not likely to go looking for a salesperson to talk to, or to read through a bunch of corporate website content. Instead, you’ll probably ask neighbors or friends \u2014 your peer network \u2014 what or whom they’re using. Companies should position their social media efforts to replicate as much as possible this community-oriented buying experience. In turn, social media firms, such as Facebook, should become expert at enabling this.<\/p>\n","protected":false},"author":8,"featured_media":145,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[26,27,28,20],"class_list":["post-251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-social-media","tag-business","tag-harvard","tag-marketing","tag-social-media"],"featured_image_src":{"landsacpe":["https:\/\/expioconsulting.com\/expiostaging\/wp-content\/uploads\/2012\/07\/1-1.jpeg",580,215,false],"list":["https:\/\/expioconsulting.com\/expiostaging\/wp-content\/uploads\/2012\/07\/1-1-463x215.jpeg",463,215,true],"medium":["https:\/\/expioconsulting.com\/expiostaging\/wp-content\/uploads\/2012\/07\/1-1-300x111.jpeg",300,111,true],"full":["https:\/\/expioconsulting.com\/expiostaging\/wp-content\/uploads\/2012\/07\/1-1.jpeg",580,215,false]},"_links":{"self":[{"href":"https:\/\/expioconsulting.com\/expiostaging\/wp-json\/wp\/v2\/posts\/251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/expioconsulting.com\/expiostaging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/expioconsulting.com\/expiostaging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/expioconsulting.com\/expiostaging\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/expioconsulting.com\/expiostaging\/wp-json\/wp\/v2\/comments?post=251"}],"version-history":[{"count":0,"href":"https:\/\/expioconsulting.com\/expiostaging\/wp-json\/wp\/v2\/posts\/251\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/expioconsulting.com\/expiostaging\/wp-json\/wp\/v2\/media\/145"}],"wp:attachment":[{"href":"https:\/\/expioconsulting.com\/expiostaging\/wp-json\/wp\/v2\/media?parent=251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/expioconsulting.com\/expiostaging\/wp-json\/wp\/v2\/categories?post=251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/expioconsulting.com\/expiostaging\/wp-json\/wp\/v2\/tags?post=251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}