As we celebrate our seven year anniversary in February 2017, we want everyone to understand a basic fact: You only need the 2 Rules of Marketing. The marketing industry can become extremely and unnecessarily complicated. Whether sifting through data, managing opinions, or exploring media options, the number of ways to get overwhelmed is staggering. I have seen this phenomenon as I’ve worked on all three sides of the industry – media, client, and agency. It is one of the primary reasons I created Arkside: to be a one-stop shop for an organization’s marketing needs. Achieving that goal required simplification of the typical approach to marketing. My years and depth of experience led me to two rules that can be applied to all situations resulting in simple decision making.
Think about stock investments. As I remind guests at my lectures, no one throws darts at a Wall Street ticker symbol and decides to put their money there. Even 401(k) plans are managed by professionals, and the investors who invest in them rely on the knowledge of the fund managers. The bottom line is that a positive return is expected on the investment.
Why would you treat your marketing any differently?
A proper campaign should be a combination of great creative and data-based strategy, all intended to align with an organization’s goals. From business card layout to multi-network TV ads, you should expect a return on your investment. That Return on Investment (ROI) can be measured in a variety of ways but should always be aligned with your goals.
Don’t limit yourself to sales. Your investment can be used to achieve one or more goals.
The first step in a marketing campaign should be to establish its goals and the Key Performance Indicators (KPIs). Only then can you measure success. That success is your Return on Investment. If, and by how much, you achieved your goal is your success…or failure.
Many years ago I adopted my attitude toward life: “I only have two kinds of days – good days and educational days.” Learning is the key to success. The only way I can have a bad day is if I didn’t learn something. Failure is an education. It will teach you how to not repeat the mistake. It can show you how to try something in a new way.
After you have done your research, identified your target audience(s), selected the proper media, and crafted a great message, what happens when you don’t meet your goals? That should teach you something. As our client Chris Surdak says, “reports should be an input”. The failure you experienced will certainly be disappointing but it should be used to do better the next time. I have heard marketers blame the media and, frankly, I feel that is lazy. Statements like, “I tried radio and it doesn’t work” or “we dumped a bunch of money into Google and got nothing out of it”. While I don’t doubt their results were bad, I am always skeptical that the tried-and-true media formats are to blame.
Identify the error(s) in your approach and don’t repeat them.
This is no less important than the first of the 2 rules. Let me address something up front: Your sales and marketing efforts are not separate. They are intrinsically linked for very good reasons. Take the following scenario as an example:
You have invested many, many hours on setting your goals, doing your market research, identifying your target market, building a beautiful campaign, and launching to the public. Leads start pouring in. Your sales team wasn’t given any of the ads to review, were not prepped on the offer, and are putting all of your carefully crafted leads into a broken sales funnel.
This is not the time for the marketing department to say, “we did our job!” Sales and marketing should be working together. Sales should be providing on-the-ground, real-time feedback to marketing about what questions customers are asking, how providing key information earlier in the process can avoid unnecessary delays, and other elements that improve the customer experience. Conversely, marketing should be training sales on where ads will appear (radio stations, Facebook, direct mail, etc.), how the offers are being presented, and what they can expect customers to know and/or ask about.
There are so many potential customers out there willing to become customers. So many, in fact, you would never be able to serve them all. But for those who have given you a chance to earn their business, you better not blow it. They are ready to give you their money. Are you making it easy for them to do so? Long buying processes, repeat negotiations, complicated pricing or discounts, improperly trained staff, key information buried on your website, no credit card payment options, and many more are all things that make it hard for someone to give you their money.
So how do you make it easy?
These two rules form the foundation for every decision we make, both internally and the advice we offer our valuable clients. Marketing is one of the few areas of business that impacts and is impacted by every department and person in an organization.
We changed our company slogan in 2016 from “The way things should be.” to “Educate. Succeed. Repeat.”. Our 2 Rules are now a cornerstone of delivering on our mission to teach marketers, help them succeed, and repeat that cycle. Whether you are a client of Arkside Marketing or not, we want you to make the most informed marketing decisions possible. Your advertising should result in success. Once both of those are done, we hope you repeat the process.
You will be seeing “2 Rules” in all of our marketing materials and we will be using the hashtag #2Rules throughout social media. We encourage you to use it on your social media as well for any questions or discussions you want to have about marketing. We look forward to meeting and helping you in the years to come.
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