Marketing I – Text
Check unknown vocabulary before you read the text:
Vastly – to a very large extent
Slick – attractive
Glossy – shiny; showy
B2B – business-to-business
Questionable – problematic; dubious
Fiefdom – the domain of a feudal lord
Diminish – to make smaller; lessen
Dedicated – devoted to a purpose
Balkanize – to divide into small units
Savvy – well informed; understanding
Retain – to keep
Finger-pointing – the act of blaming someone
Marketing departments
Any business enterprise has two basic functions: innovation and marketing. Yet, industry leaders are still lamenting that the marketing function is broken. Companies have vastly different definitions of “marketing.” To some, it’s a creative function that develops slick websites, glossy brochures and expensive campaigns. To others, it’s an MBA crunching numbers on market share. And to many small-to-midsize B2B companies, it’s an expense that delivers questionable results.
The most dangerous term in business – marketing department – sounds harmless enough on the surface. In fact, it may even sound like a good thing. The company has a function dedicated to marketing the business. Yet creating a marketing department “balkanizes” the marketing function. It creates an environment where marketing is viewed as a solitary team – and usually one that focuses on campaigns and creative materials. An expense that gets cut in tough times. A fiefdom.
Marketing is the process of growing a business. And when you stick marketing into a department, it’s easy to end up with a narrow, independent function that isn’t involved in business strategy. As a result, you’re effectively diminishing the impact marketing can have on the company.
Savvy companies treat marketing as a strategic process that involves many functions beyond the marketing department:
- Senior management
- Finance
- Sales
- Product management
- Customer service
- Human resources
- Technology
In savvy companies, these teams work together to develop business strategies, create tools and processes, and build (and retain!) a strong customer base.
If you’re not happy with your company’s marketing function, look at the way you’ve structured that team. Are they involved in strategy or are they primarily focused on tactical campaigns and materials? Do all of your teams truly work closely together toward a common goal or are you dealing with infighting, competition and finger-pointing?
Your company has two things on your plate. The first is innovation. The second is marketing. It’s a group effort, a process that should be driving your business forward rather than sitting alone on an island.