The Business of Marketing
Marketing is in a renaissance across all industries. It’s nothing new this thing we call marketing, but I can’t help but feel that based on the number of calls and the interest level in direct mail alone that something has changed. It’s something that really started changing when online media became not only a disruptor, but also an opportunity for businesses to grow and expand their customer bases.
It doesn’t take a rocket scientist to connect the dots, but maybe you haven’t felt it or given it as much thought as I have. Let me tell you what I see happening and why the whole field for marketing services is about to explode.
The Future of Marketing
When Google and Facebook become two of the largest companies on the planet in terms of market cap, you have to ask yourself why. They are not valued this way because of their sheer scale and growth trajectories; not at all. That is simply the means for them to generate revenue. The revenue itself doesn’t even come from subscriber services or membership fees like it does for companies like Netflix, Comcast, or AOL. The revenues come from advertisers, from marketers that are doing marketing. At no time in history (other than the present) have companies made so much money from selling advertising.
This is a very interesting phenomenon that will forever change the landscape or the role that marketing plays for organizations and the way that marketing strategies are conducted and perceived by businesses.
Marketing historically has predominately been perceived as a necessary evil, a requirement for maintaining market share or for getting market share for one’s business. I believe that marketing is what “makes” businesses—and this will be even truer in the years to come. Marketing will be the reason that people get into a business. The ability to measure and analyze the return on investment from marketing ideas, specifically from executing a strategy, will ultimately change the perception of marketing for all time. Sounds grandiose, doesn’t it? Well, it’s true.
Smart Companies Ask Smart Questions
Now, more than ever, when businesses are launched, the first questions asked and discussed are:
1) What are my acquisition costs for new customers?
2) What is the lifetime value of a new customer?
3) What are the best media channels to use to acquire customers?
4) What marketing strategies or methods work best in each media channel my company uses?
Smart businesses historically have always asked these questions. Now all businesses are asking these questions. Guess what; these are questions that are answered by marketing people and now implemented by all the other functions within an organization. Making sure companies can compete, exist, and excel in today’s world will still be a function of having a great product or service, yes. But more so than ever it will happen because of great marketing ideas and strategies and the understanding of how to implement those strategies for the greater success of the company.
Macromark considers itself to be among these smart companies, continuously adapting to the changes in the marketing industry. Though we specialize in direct mail marketing, we have grown to implement e-mail marketing and other direct marketing approaches to better serve our clients and produce the type of results they expect.