I was reviewing the top 100 B2B advertisers list that was published in a “recent” issue of BtoB Magazine. (Yes, I’m a bit behind on my reading). The list reinforced for me what I have known for a long time: market leaders are also marketing leaders. While that may seem to be stating the obvious, I am not convinced a lot companies, especially in the b-to-b space, fully grasp the direct correlation. So here is a challenge for you:
Pick an industry, any industry, and name the market leader. I’d be willing to bet that they are also a leader in marketing. If you find a company at the top of the heap in a certain industry, and that company doesn’t place any value in marketing, I would love to hear about it – just post a comment to this blog entry.
Now, I don’t necessarily mean by being a leader in marketing that they spend more money advertising than their competition, although that may well be the case. What I mean is that they understand and apply the discipline of good marketing, stuff like:
- listening to the voice of the customer
- market segmentation
- creating products that are wanted by the market
- effectively communicating to their customers and prospects, both messaging and reach.
After all, the purpose of marketing is to create a customer, right?
I find it interesting that while many companies aspire to be at the top of the list, few lack the discipline and commitment to market correctly. Marketing done well doesn’t come easy, but it certainly pays off, as I hope my challenge to you will prove.
So the next time you hear about a company that is bemoaning their lack of sales, or complaining how they are losing share to competitors, take a look at their marketing efforts. Chances are, they are lacking in that area as well.