The art of keeping marketing simple
via: ImediaConnection
The past year has been a volatile one for many U.K. businesses, and as the wider U.K. marketing communications industry has witnessed, there appear to be very few areas enjoying relative stability.
Many marketing services businesses have made progress, however, and some are thriving despite the current market conditions. Evidence suggests that it is those agencies that are focused on point of sale branding, activation of campaigns directly with consumers and offering brand experiences that are also doing relatively well. And marcoms businesses with strong digital pedigrees seem to be holding up as well, although margins are tight. So where do we go from here? The first thing to remember is to keep it simple. In other words, ‘stick to the knitting’.
I first read this advice two decades ago in American business management writer Tom Peters’ book, In Search of Excellence. Peters suggests that if you want to be truly excellent at something in the long term, you should focus on what you know best and be as good as you can possibly be at doing it. Professor Michael Porter of Harvard Business School echoes the advice: avoid trying to be all things to all people and getting ‘stuck in the middle’.
This is as true now as it was back then — perhaps even more so. When the going gets tough, it’s tempting to go for just about any business that comes your way, even if you’re stepping outside your comfort zone. However, this can distract you from your core offering and dilute your brand’s presence in the client business. It can also lead to an inability to maintain service levels. Admittedly, with fewer really interesting projects out there, there has been a far greater degree of competition and certainly more ‘speculative pitching’ — often for free. Competition is always good as it drives creative thinking.
However, I believe that agencies should avoid speculative pitches as these undervalue the value of the work and can also encourage clients to pursue ‘window shopping’ non-pitches. In difficult market conditions, it’s prudent to focus on your strengths, rather than trying to be a Jack-of-all-trades.
