MarTech Insider Anand Thaker: Marketing Not Aimed at Building Real Relationships with Customers? Cut It. - Small Business Trends | The Marteq Alert |
One of the first things is marketing, yes or no? That’s not the right question to ask. That correct question is, is the marketing efforts or spend that you have, are they engaged in building a relationship with a customer? If it’s not part of the journey or if they’re not responsible for the entire journey back into the business operations of the company, then yeah, maybe need to consider cutting it, because it’s an expensive spend and you’re basically competing … You’re selling against yourself. You spend a dollar, someone spends 105, then you got to spend 110, then they spend more and then you have to spend more, but if your marketing spend is basically driven on developing a deeper relationship, meaning you are training your staff, frontline staff perhaps, at a retail store, on developing better experiences, or you’re working on the digital journey for how people buy, or trying to come up with different ways to help your customers make a decision, or help them, say, like in a fintech world, like you have some sort of financial services option, you’re trying to help them be better financial … financially savvy.