8 TIPS TO CRACKING A MARKETING CHALLENGE
I was a judge during the final round of the recent 14th MarkProf Marketing Leadership Bootcamp Challenge, an annual event I cofounded with Ding Salvador, former Johnson and Johnson president for the Asean region. Since 2003, MarkProf has been searching for the 25 most promising young leaders among graduating college students who excel academically (grade point average of at least 85 percent is required) and are also active student leaders.
Close to 1,000 students vied for a slot this year. From this number, 100 were chosen for the next screening. Then after another elimination, 25 finalists were selected to undergo a bootcamp where they were mentored by a dream team of chief executive officers and chief marketing officers. They were then graded based on the quality of questions they asked, among others. Each participant got to see his or her class standing after each session.
As one of their mentors, I shared eight tips on how to crack a marketing challenge.
1. Start by asking why.
One of the cases was about a brand not being top-of-mind in the online travel booking space. Instead of immediately coming up with a communication campaign, ask why the brand is not the go-to platform of customers in order to further understand the issue while also analyzing the problem.
2. Distinguish symptoms from the root cause.
Keep asking questions to generate a chain of issues that can pinpoint you to the source of the challenge. As marketers, distinguish thesymptomsfrom the root cause. The chain of meanings derived can lead to a valuable insight.
3. Ensure that the problem has been threshed out before offering solutions.
Marketers should not rush to offering a campaign by merely accepting a marketing challenge without validating the problem. Otherwise, it may become just another marketing activity that solves a wrong problem.
4. Be relevant before being unique.
Many times, differentiation is offered without solving existing pain points. Other times, pain points are solved without any differentiation. Have a basic understanding of the dynamics between consumer needs and wants.
5. Talk to customers.
Don’t be a swivel-chair marketer. Avoid presenting big ideas without any basis. Conversation with target consumers is very crucial. Prepare simple questions to know barriers to consumer adoption; discover what they like, what they wish for.
6. Don’t fall in love with creating hashtags!
Hashtags are cool, but only after uncovering a marketing problem. Whenthat happens, hashtags must be matched with an appropriate marketing solution. #BeRightBeforeBeingCute.
7. Formulate value propositions before a marketing campaign.
Marketing mix has the value proposition part, composed of product and price; as well as the marketing plan part, composed of place and how the value proposition will be promoted. Marketing campaigns cannot exist from nothing; it only follows value proposition—hopefully a compelling one.
8. Persuasion is not decided in the boardroom; it is decided in the marketplace.
Separate noise versus the data that creates value. Some data available and shared are just “noise” that do not need to be considered. The final arbiter of sustainable marketing is never found in the board, but in the marketplace where consumers vote with their wallets. Board members should also decide on matters based on this mindset.
The MarkProf seal now serves as a resumé equalizer and an advantage for young marketers ready to enter the market, so to speak. So far, it has already trained 337 alumni. Many of these leaders have gone to become movers and shakers in their respective industries. Josiah Go is chairman of Mansmith and Fielders Inc. To read his interviews with marketing thought leaders, visit www.josiahgo.com.