We’ll Convince Them Yet: Marketing = Investment
by Mike Karfakis on February 24, 2011
Too many people see marketing as an expense instead of a crucial investment for your business. As Steve McKee wittily points out in a recent Bloomsberg Businessweek article, "Marketing: Investment or Expense?", your lacking branding program may just be bringing about your slow demise, right as you read this.
Your brand is your personality, the promise you make to the world, your lifestyle – who and what you are to everyone “out there.” When you think about it, your brand really is the ultimate asset. Think about McDonald’s, whose consulting firm Interbrand estimates is worth $33 billion. Over time, a successful branding campaign can only increase in value.
Of course, not all marketing efforts are created equal. Some are complete wastes of time and money. Quick “Get the word around” campaigns, or ads that flash and make noise but don’t inform and sell - these kinds of efforts are sudden, unplanned, and just plain don’t work or have any lasting affect. Marketing and branding involves strategy that is worth quite a bit of thought. Indeed an investment worth the work after you begin reaping the benefits.
"Great brands are more than the sum of their parts. Coke is more than water, syrup, and bubbles. As a matter of fact, nobody really cares about what Coke is made of any more: Coke is Coke. When the memory is gone, the emotion remains. That's greatness."
So, are you great yet?
- Best Global Brands: Coke Wins Again, but Google Climbs the Most (dailyfinance.com)
- Shocker! Apple product placements dominate Hollywood (engadget.com)
- Get Over Your Brand, 2011 (lostremote.com)
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