Bob Chernet’s MARKETING INSIGHTS: Starting with a Business Case
by Bob Chernet
All too often I see businesses jump-into the marketing fray with strategies that leave me scratching my head and asking “huh?” It’s not just me; the puzzled looks span a variety of ages and demographics. The point of the marketing message was so unclear it had to be because a.) I am truly out of the loop and clueless, b.) the creative was waaay off-base, or c.) they didn’t really have a well thought out plan that addressed a consumer need and offered a clear path to a solution.
Let me suggest that “a” and “b” are often the stated reasons by the “suits.” It’s nearly unthinkable that a business in today’s environment will embark on something without a plan. And then I read this article in the New York Times: Why Twitter Turned Down Facebook.
Ignore the back-and-forth reasoning why Twitter and Facebook are not yet meant for the altar. What I find astounding are statistics like this (and I quote): “Twitter has raised $20 million from venture capitalists, but has brought in virtually no revenue, choosing growth over everything else. ” Does that sound familiar? Didn’t we go through something like this not even 10 years ago? How can you start something without the end in mind?
Yet, Ev Williams, the chief executive and co-founder of Twitter was quoted as saying: “So far, though, “we haven’t studied the business cases much.” “We literally have no business people in the company, so this isn’t an area we’re really focused on.”
Tell me, am I missing something? Please enlighten me. Unless Mr. Williams has a pile of cash and Twitter is his plaything, this does not make any sense. It reminds me of an old saying I had posted in my office: “Ready - Fire - Aim.”
So what can we learn from this? First and foremost, as I consult with companies looking to revamp their Web initiatives, I observe that they have not given one single thought to a business case. Not once have they articulated a “desired outcome,” a set of goals or even a key performance indicator. They see the Internet, or Web 2.0 as support means to a larger initiative; not as a marketing channel that can be infinitely measured, but also carries direct costs.
Without a plan (a business plan) these projects are usually the first to be cut when the company enters rough economic water. And that’s too bad, because rough times should call for greater marketing activity. But without a plan, a goal and proper measurement there is no way to justify the dollars and effort spent on a Web project.
I share a “needs assessment” process with new clients which forces them to tell me what they want their digitial initiative to do, what their calls-to-action are, what the desired outcomes need to be, and how they will measure it. Rather than thinking of the Web as just another marketing component, it makes them understand that it has to pay its own way and earn its keep. But without a business case, it’s like the old saying, “If you don’t know where you’re going, any road will get you there.”
Agree? Disagree? Have a success story? Have a question? Share it with me at: bob_chernet@viewmark.com
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© 2008 Bob Chernet
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