Marketing is Everything. This statement is as true today as it was when Regis McKenna first penned his article in the early 90’s. This is not to say that Marketing is the most important function in an organization. It is saying that marketing is every functions role. And as we move towards a Post COVID-19 world, most businesses need to think holistically about how to survive and thrive. To do so they need to make sure that the products, services, solutions, and experiences are consistent with what their customers are seeking.
For many companies, this is a once in a lifetime opportunity to hit the reset button. Think about it this way, after months of social distancing, reduced travel, wearing sweats, minimal dining out, etc., businesses have a real chance to better align to what their customers are seeking. For example, this might mean that diners really want an experience whereas in the past whatever was quick and cheap may have done the trick. Or as we look to take flights, maybe we all wil
l seek to fly under more friendly conditions as opposed to being loaded like cattle into cramped seats and being ignored by flight attendants.
Whatever the case may be, organizations large and small would be well served to use this time to not only find out what their key customer groups will want, but to ensure that they deliver on those expectations. That means that every function should be looking to address any gaps they may have between their current solutions and the solutions that their customers will want.
For example, the Human Capital function needs to ensure that their actual Employment Brand is in alignment with their desired Employment Brand. The Operations function is delivering an experience consistent with what revised customer expectations may be. Product management and R&D teams need to create products based upon genuine Voice of the Customer data and alignment to the company’s brand and competencies.
As you contemplate the potential changes that you want to make coming out of the pandemic, consider that according to Barron’s, as of November 2020, Americans have saved $1.3 trillion since the pandemic began. As vaccinations become widely available and the economy opens back up, this pent-up demand will be unleashed. As a result, experts at Morgan Stanley are expecting a blistering 6.4% global growth. Don’t you want a piece of that?
The companies that innovate their products, services and experiences to what their customers will want, are going to be the real winners. The only way to get there is for the entire organization to consider themselves as part of marketing. After all…
Marketing Is Everything!
Here is a link to the original article. Enjoy!.