There’s no doubt that marketing is having to work harder than ever to earn its place in the boardroom. Financial mindsets dominate businesses and as Rory Sutherland put it in his stimulating talk A World Without Branding – Why It Would Never Work, branding is often seen as no more than “reprographics with A levels”.
But this attitude is fundamentally wrong.
I get it. We live in a world where businesses obsess over product. Getting everything just right. Ultimately you want payoff after purchase and for people to be absolutely sure their latest acquisition was justified.
That’s all fine and dandy.
But tell me, just how is your product going to end up in people’s hands if you don’t prioritise your brand and marketing?
Is having a strong product really enough in itself?
The short answer is no.
The longer, and much more amusing answer comes in this brilliant demonstration of a great product (Ed Sheeran) being sold badly (Peep Show) https://www.youtube.com/watch?v=TaUlBYqGuiE
Quite simply, people can’t make sense of the offer. And when they understand it, they don’t trust it.
Seriously. FOR A GOOD TWO HOURS people turn down the opportunity of a reasonably priced, 30 second private Ed Sheeran concert. And when someone finally accepts the offer, it’s down to the good old urgency & scarcity sales techniques.
So there you have it. Marketing multiplies value. And you need to build, develop and nurture it just like you would your product.