The 7Ps of Marketing Leadership
Nov 07, 2019 • Aaron Goldman
Everyone knows the 4Ps of the Marketing Mix, right? Product, Place, Price, Promotion.
But do you know the 7Ps of Marketing Leadership? You won’t find them in a textbook but you can get the full download via podcast, er Bobcast, that I recorded with Bob Tripathi of Digital Sparx Marketing.
Here’s a recap:
No matter what brand you work on or what your goals are, surrounding yourself with good people is critical to success. And the key to attracting and retaining good people is being personal. Showing that you care about others and their whole selves will foster a culture of commitment and drive optimal performance. And for the love of all that’s holy, respond to your emails.
OK, you’ve got the right people on the boat but how do you keep them rowing in the same direction? This is where process comes into play. It doesn’t matter what system or software you use to manage projects and priorities as long as you’ve set very clear objectives that cascade down from the business to the team to the individual. Transparency and communication are two operating principles that separate the workflow wheat from chaotic chaff.
As I told eMarketer for The Future of the CMO Report, the key is to be adaptable and agile. “We can’t assume that what has worked in the past is going to work in the future. If we just copy and paste the same plan from last year or even last quarter, we are going to lose. We cannot get comfortable.” Or as Rishad Tobaccowala has said for years, “The future does not fit in the containers of the past.”
The best laid plans of marketing mice and men often go awry. And that awryness often comes when a product does not live up to its promise. Not all CMOs have full jurisdiction over product delivery but many are taking ownership of customer experience and all of us must play our parts to share market feedback based on how our messages are landing. In the case of the 4C product approach to Convergent TV, I spend a lot of time talking to clients and partners about what’s required from software to address CTV – or COTV as we coined it at a recent IAS event.
Now it’s time to take what you’ve built and make sure the value prop is immediately obvious and benefit-driven. But this is not all about beating your chest. In fact, some of the best packaging is that which sets clear expectations and comes from a place of humility. A great example is from our CEO Lance Neuhauser who was quoted from a panel at the Advanced Advertising Summit, “We are not advanced yet; we are advancing.”
We all want to believe in something. We all want our work to matter. We all want to make an impact. From a marketing leadership perspective we need to make it clear to our teams and our customers what we stand for. After all, Gen Z thinks of purpose as a verb. In their minds, if you don’t stand for something, you stand for nothing. And nothing is what you’ll get when it comes to their patronage.
Yes, this list is in chronological order and if you’ve done the other 6 Ps well, profit will follow. Of course, the bottom line is the bottom line when it comes to marketing leadership. We won’t stay marketing leaders long without it but profit is the destination and it’s the journey that makes all the difference. So don’t forget to put purpose before profit and remember it all starts with people first. Whether it’s B2C or B2B, people buy from people not brands.
OK it’s time for a bonus P as there’s only one thing left to do now…
At the end of the day (or year) it’s important to step back and celebrate your team’s successes. People like to say “Marketing is not Rocket Science” but I actually think it can be after watching the 4C engineering team in action so instead I started saying “Marketing is not Brain Surgery” to remind us not to take ourselves too seriously but after our some of our folks literally saved a life during a team outing, I’m not even sure I can say that anymore. Regardless of what you call it, good marketing and good marketers should be recognized so party on! 🎉
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