Don Coley

I was recently asked to answer the question for the Boston Business Journal: 

How should corporate leaders approach marketing in the new economy?

My answer which appeared in the May 14, 2010 issue:  

“Engage your customers in a two-way dialogue at touchpoints that matter while creating passion and interest in your current and future offerings – and execute unique and memorable branding through an adaptive marketing strategy “

Although there is no “one size fits all” for marketing, we often deal with customers involved in complex B to B value chains that involve numerous stakeholders and “customers” as well as an end consumer.

There are many distinct and unique marketing challenges, but I am convinced that two –way dialogue at touchpoints that matter is smart business- regardless of the value chain you are involved in.

Insights gained through immersion in your customer’s world, and a keen understanding of the possibilities allows organizations to focus on delivering real value to its customers.  This dialogue should be a part of  ”up-front-marketing” as well as part of the downstream activities. Whether you are an IT service provider, consumer products company, retailer, or clean tech company- listening, learning, and adapting are crucial to short and long-term success.

Depending on the markets and how customers engage with your brand , social media could be an important source of product innovation and a customer service vehicle. In the B to B world user forums and communities help this happen.  Again, not a one -size-fits all. 

At this year’s TiECon East, on May 28^th we had the opportunity to hear Ash Dahod, who led Starent Networks to achieve dramatic growth and was recently acquired by CISCO for approximately $2.9 Billion. His words and “success stories” speak powerfully and underscore many elements of the thinking behind my answer above.

Starent Networks is a leading supplier of IP-based mobile infrastructure solutions targeting mobile and converged carriers.

Dahoud spoke of building his company and focusing on important areas, through constant contact with service providers, and developing a deep understanding of their challenges and pain points. Building solutions and relationships created value that was recognized, and will be even more important in the future.

Global mobile data traffic is expected to more than double every year through 2013, according to the Cisco Visual Networking Index. Internet video is predicted to account for 46% of all traffic in 2014. Of course, Cisco also purchased Flip Video in March of 2009.  

By understanding user- driven changes and needs, Starent and now Cisco will better serve their customers from a leadership position rather than playing “catch-up “with demand.  

Dahoud, an engineer was crystal clear in his belief in hiring the right people, as well as the importance of balanced spending in marketing and other disciplines…

Of course, once you have the solution to your customer’s needs, whether it is B to B, consumer, or a hybrid model –you have new challenges. How will you position this in the marketplace? How will you be unique and memorable?

I believe the explosion of touchscreen devices like the iPad and applications will provide opportunities for companies to provide brand experiences that are far more engaging than the small smartphone screen. Marketing and customer service can combine to create ‘wow” experiences that create raving fans for your brand. “Mobile” will evolve into how, where, and when customers experience and communicate with your brand.  Apps could become a driving force in brand engagement.

In 1983, I met Rosser Reeves -who is generally credited with creating the “USP” or unique selling proposition- a core message of the book  Reality in Advertising. Reeves was a former co-worker and the brother in law of David Oglivy.  After he retired as chairman of Ted Bates -he moved to Chapel Hill, North Carolina and I assisted him in aquiring a state-of -the art digital sound system for his new home. He had just written a new novel, Popo, and presented me with a signed copy.   I enjoyed his stories of creating memorable messages such as M and M’s “It melts in your mouth, not in your hands” .  His work helped propel Colgate toothpaste, Anacin, and the Eisenhower presidential campaign. Although some of his tactics were known as “hard sell” , the concept of  “USP”  can be a powerful part of  your thinking in an enlightened marketing approach for the new economy.

How can you briefly and simply explain that  single quality about your product or service that makes it unique?  Can you substantiate this with facts?

Reeves belief was that money would be better spent building some kind of meaningful advantage into a product before launching a costly advertising campaign to promote it.   He spoke of the need to have a product that was actually superior. He was a believer in the concept of repeat business -and believed successful advertising with a flawed product could actually accelerate destruction of a brand.  Imagine if Ash Dahoud had his engineers develop solutions in a vacuum?

Here’s a  link to a recent Advertising Age article on the CMO of the future which speaks to the need to learn quickly while being agile and adaptable. http://adage.com/cmostrategy/article?article_id=144538

How many of you have heard of companies investing in product engineering and development that missed the mark- because they turned a deaf ear to the customer.. or did not invest in up front marketing?

Today, we have so many ways to have that two way dialogue, and assure we have products or services that are superior.

Think about how your customers relate to the problem you solve with search terms used by those who could benefit from your product or service. Are you solving an expressed or latent need?

If you do the right up front marketing and develop a product or service that addresses pain points and responds to your consumer or B to B customer’s needs.. then cxecuting that memorable branding strategy can easily be influenced by your up front marketing work.. and instead of a “hard sell”.. you can communicate a message in language that will fuel brand passion because they they appreciate and understand it! 

Memorable branding and an adaptive marketing strategy allow you to carve out the right mindshare with your customers and those who influence them.

Organizations that take the opportunity to look to the future waves and ride them while creating real value will reap great benefits.  Now may be the perfect time for organizations to look to the future and invest in people who can and will make a difference in their future revenue growth! Ash Dahoud made the investments in people and recognized the inportance of up front marketing and getting close to his customers.  The results speak for themselves.