Most people agree on the following when it comes to Marketing.
- Marketing is often perceived to be a cost center. Finance and sometime Senior executives are eager to define the RoI from Marketing. It is under pressure to deliver more from less funds.
- Marketing in the new decade is substantially changed than what it used to be; consider advertising, social networks, globalization, channel distribution, customer knowledge etc.
- Marketing & Sales, when operating in perfect sync, can spell wonders for business. Things, however are less than ideal in practice.
- The role of Marketing is sometimes misconstrued in the industry – restricted to product pricing, promotion and PR.
some of the ills being faced by high-tech businesses and the role of Marketing as the solution.
Same old cell phone, presence enabled. User calls in for pick up, Auto-attendant (Speech enabled software) picks up the phone, gets the location of the caller, conferences the taxis (mobile phones) available and closest to the caller. And then confirms the caller. The caller can also track the taxi as it is arriving, on his phone. Taxi drivers spending half of that amount can still give a healthy margin to business, I think. Mashups combining the Web and Telecom services can be used to build many compelling Apps.
One facet of Marketing is about thinking in terms of best possible experience (convenience, RoI) of the stakeholders (customers, suppliers, partners, employees, end users etc). It is not a standalone job; get information, apply knowledge and thinking and always work hard to ensure that your offering is always one step ahead in the technology race.
This can hurt the business real badly, if miscommunicated. Remember that there’s a lot of resources spent during the product launch. Marketers must ensure that no product or feature is planned which is not in line with the core technical capability. In case of committed revenue, of course it’s a different story.
- It is particularly important in case of B2B businesses.
It is a chaotic marketplace with lots of vendors for every product. Customer’s needs can not be fulfilled by a single vendor. Building a partner ecosystem aligning with Customer’s and Market’s need is crucial to business growth.
No business wants to compromise on price. The key is to understand the demands of the market, paying capacity of the Customers and then re-align the offering to suit the price.
Stakeholders in the business are aware of the VALUE that is being delivered and Marketing needs to communicate the (what, why, where, when, how) to the stakeholders.
Tracing the Customer Experience into Product strength/negatives:
It involves doing different things like: RCA of Customer Churn or broken deals, Customer perception and usage of various features offered. As an example, Web Analytics is a complete discipline for improving website response.
Global, yet Local:
Marketing functions are located worldwide, locally at the Customer-dense geographies.
Marketing is heart of the the business. When the heart functions normally, we never really need to know that it’s doing its job perfectly. When it hurts, it just shows. source