Скачать или смотреть Reduce Marketing Costs - Give Advertising A Lower Priority

One thing I like about New York University marketing professor and author Scott Galloway is his directness and tendency to say it as he sees it. Galloway once described advertising as akin to a ‘turd floating in a swimming pool.’ Galloway suggested that advertising imposes on people – targeting them when they are not interested, telling them things they don't need to know – and taking their time without recompense. How right is he?
Advertising can deliver benefits and is often necessary, but it is a less critical aspect of marketing and business than many marketers think. There are things more important to successful marketing than advertising, and marketers often devote too much time and resources to advertising. Here are three strategies that can reduce the reliance on advertising and its cost.
The first strategy comes from Scott Galloway, who once asked an audience – "What do Apple, Google, Netflix, Facebook, and Amazon have in common?" Answering his own question – Galloway said – 'a fucking great product'. He was right! While contrary to the view propagated by most advertising agencies that it is "great creative" or a "great media plan" that sets a great brand apart - the starting point for every great marketing campaign is a 'great product.'
The advertising budget of Apple as a percentage of revenue (0.25%) is a fraction of that of Telstra (2%) – partly because Apple has a great product. Great products drive sales, margins and referrals.
The second strategy involves 'content marketing.' While it can still be promotional and still takes up the target's time without permission – good content at least offers value. Rather than beating the consumer over the head with messaging they probably don't need or want – quality content has the potential to deliver value by providing interesting information, insights, or ideas. Content marketing also tends to be significantly cheaper than advertising, offering more credibility.
Consumers view content as more relevant, authentic, educational, empowering, and credible. Research suggests that content offers more value and is more likely to establish a relationship.
The third strategy involves prioritising culture, using the people within an organisation to create a product and an experience that the target market engages with buys, buys again, and refers to friends and relatives. As evidenced by brands like Tesla, Zara, Rolls Royce, Krispy Kreme, Costco, and Patagonia – that have no advertising budget, brands are most efficiently created by way of behaviour and the culture that drives that behaviour. Certainly, when it comes to repeat business and referral, the customer experience – delivered by the culture will always deliver superior results to advertising.
Branding is the key to building value in a product or business, and research has demonstrated that no amount of advertising will ever take the place of culture in building a brand.
The critical issue here is not to avoid advertising but to address it last – after all of the strategies that can reduce the reliance on advertising have been addressed. The starting point of every great marketing strategy is a great product. The starting point of many great communication strategies is content. The starting point of every great branding strategy is s culture that brings the brand to life.
John Carlson – Marketing Consultant Perth.
Maximising performance through ethical customer-centric marketing, branding, and communication.
Advisor – Director – Mentor.
Consumer insights - strategic planning - marketing consultancy - branding consultancy – communication consultancy – culture consultancy – strategic marketing advisor.

For more marketing information and to understand the concept of greenwashing in marketing, visit my website at www.djohncarlsonesq.com or email me at [email protected].

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