Introducing the buyer-centric revolution

Beyond the organisation’s go-to-market goals and imperatives, marketing also makes a bigger, broader economic contribution. Every economy involves production and consumption; supply and demand. How well the economy works, however, doesn’t just depend on production prowess but on how well production and consumption/supply and demand are aligned. If you’re brilliant at supply, but you supply something for which there is no demand, then your production activities haven’t created wealth. They have created waste instead.

Ditto: if you have produced stuff people want but they can’t navigate their way to it, your efforts are as good as wasted. So the magic ingredients in any economic system are not production and consumption in isolation, but the alignment and navigation that bring them into line, in sync. Marketing’s broader economic contribution, then, is to ensure that production is a wealth creating rather than a waste creating activity. Pretty important in other words.

Now: a question. Who says it is the God-given right or duty of organisations to direct, manage and organise these economically critical tasks of alignment and navigation? The principle of alignment and navigation holds true whether it is carried out by producers (the source of supply), a third party such as a government, or the source of demand (‘the consumer’).

The Marketing Metrics Continuum provides a fra...
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Reinventing marketing

Sometimes something is so obvious you don’t need to give it a second thought. It’s obvious for example that the sun orbits the earth and it’s obvious that the marketing is something that’s done by marketers who are employed by organisations to achieve the goals the organisation sets them.

Obvious perhaps, but sometimes the obvious hides a deeper not-so-obvious truth. To glimpse this deeper truth we first need to see how our initial assumption colours everything – everything – marketers do. If ‘marketing’ is done by marketers working for organisations then:

— the purpose of marketing: to help the organisation achieve its go-to-market goals.

— the processes marketers use – processes that help the organisation pursue its purpose, of course.

— the metrics marketers use to measure how well they are doing.

For any practitioner, this is a vast, rich and complex agenda. But as I’ve noted before, it’s also stunningly limited. So let’s step outside of it for just a moment. Leer más “Introducing the buyer-centric revolution”