Friday, December 6, 2013

The 6 Essential Components of Modern Marketing 2.0

First of all, what the hell is Modern Marketing 2.0?

There's the Old Style Marketing 1.0 where Marketing is nothing more than a mystery and a cost line item to the C-suite.  Marketing 1.0 reacts to sales or product teams by saying 'yes sir, when do you want it?'  Marketing 1.0 is made up of designers, event coordinators, brand managers, email spammers, and other task slaves.  Marketing 1.0 teams love to talk about clicks, opens, views, exposures, cost per this, cost per that and every other type of vanity metric.  They have no idea about how Marketing 1.0 is contributing to business goals (revenue for example).  The website is just a dumping ground for brochures and product specs.  The database includes much crap (obsolete information) and little critical current information.

Modern Marketing 2.0 is a revenue generating team and function.  The fundamentals are current and maintained in a written living Marketing Plan.  Marketing 2.0 partners with sales, business and product to align strategy and tactics around business goals.  The people of Marketing 2.0 are metrics obsessed and value obsessed.  They talk with the C-suite about things like contribution to opportunities, revenue contribution, return on marketing investment, and net contribution.  They understand modern marketing technology and how to fully leverage it for efficiency and scalability.  Modern Marketing 2.0 is about engagement with the target audience early in the buying cycle to earn top-of-mind awareness and credibility.  Modern Marketing 2.0 adds 10, 20 or 30% to the top line.

Now, on to the 6 Essential Components of Modern Marketing 2.0:

  1. A formal marketing plan
  2. A tech savvy, content savvy marketing leader
  3. A Marketing integrated business culture
  4. Modern technology and tools
  5. A content based marketing strategy
  6. Sponsorship by the Executive team
Read more about the 6 essential components in this slide deck and call me in the morning if you want to chat about the details.