MARKETING LOGJAM – SPOKE IN CREATING BUSINESS MACHINES
Is the country stuck up in a marketing logjam? There are any number of products which have customers but it does have a market. A weird situation. There are any number of ideas which are flaunted as guaranteed success and even after being funded accordingly, it finally nosedives into history. There are any number of businesses where customer acquisition costs are much more than the revenue they bring to the company. The urge to create a monopoly based on this nature of growth trajectory cannot be everybody’s business destiny. The IT behemoths which are today most well-known creative / competitive monopolies were not born out of funding of this nature.
The standard marketing of a well-established FMCG company or an IT product of a well-established brand and a whole bunch of start products and services are two different sets of stories. Marketing is treated as an integral component of any company and the same is for the start-ups. They supposedly hire a marketing guy (agencies or companies) who claim to have expertise in the field. The bargaining is only about the pricing in the fond hope that they can create a market for the product or service. But in the changed business scenario, does it happen? Will the same marketing gimmicks deliver in the totally changed business environment.
If the companies have got over the marketing logjam, then why do even well established companies spend huge sums on business development, marketing, pre-sales and the like and still not make much headway. These companies have not been able to harness the modern digital tools for marketing. Actually, they are not exploiting any of these, as a marketing tool.* What do the websites of well-established companies and start-ups have to offer? It is a whole make-believe world, claims and technologies enmeshed into a multimedia presentation with no connection with the products, services or technologists on offer. Then you would be have running numbers of customers, hours, geographies and whatever they feel like projecting to entice the customer. Finally, you have the nearly the same list of logos, which do not convey any story.
The marketing guys are barely able to make it to the decision makers and if they do, they don’t have that level of competence over the product, so as to make the customer realise the need for it or that it is a product, way different from the others available. They don’t seem to be confident about anything but for a few features and have disclaimers galore. The pricing is not clearly spelt about and the responsibility component is clearly missing. Marketing has thus become a game of commissions, incentives and bonus and many times what they sell is not doable. The development team keeps on struggling with it. Getting the work order is the name of the game. Creating business machines needs a different acumen, which successful tech entrepreneurs have proven. It cannot be done by marketing guys / organisations hanging in mid-air.
MARKETING NEEDS A PARADIGM SHIFT TO DO JUSTICE TO THE PRODUCTS AND SERVICES, CREATED AFTER IMMENSE EFFORT OF EVERY TYPE.