• James Thomas

What Exactly is Modern Marketing?

what is modern marketing

Just Do It.

Fly The Friendly Skies.

The Ultimate Driving Machine.

Don't Leave Home Without It.

We've all heard these great taglines, but great marketing is so much more than that.

People often ask me what I do, and when I tell them I am a Chief Marketing Officer, they look at me funny. They ask me things like, "So... You make commercials?" or "Oh, so you're like Mad Men?"

Yes, exactly like Mad Men, I make business decisions over a few martinis... sort of.

What I'm actually striving to be is a modern marketer. What that means is that I'm constantly looking towards a combination of traditional marketing while blending newly adapted styles of communication and metrics. Ultimately modern marketers are responsible for driving revenue.

The 4 P's still play a major factor in what we do We create Pricing for our services, define Placement (or as we now refer to it, Go-To Market Strategy), develop Packaging for services offered, and we Position the product to match the needs of the customers.

Modern Marketing embraces those fundamentals and adapts to the expectations of today's fast-paced, empowered and educated buyer. However, it holds a few critical elements that do make it more unique. It's quicker, it's more adaptive than ever before, but it is also more challenging. In turn it has become more exciting than Don Draper or Roger Sterling could have ever imagined.

This is how I define Modern Marketing:

Revenue is the one metric that really matters

Traditional marketers talk the talk about leads, brand impressions, and more recently about "likes", "follows", and "mentions". While this is all fine and great, the one and only thing that truly matters to a modern marketer is revenue. Dollar Dollar Bills!

Somewhere along the line we have established that creating a recurring revenue stream by rapidly adding new customers is more important than an elusive elephant-hunting type of deal. We discuss revenue velocity of recurring customers, which essentially is the duration from lead to close. This is declared as being the most important thing we do to support our business. Everything else is just a means to an end.

The buyer is in control

Numerous studies show up to 70% of a purchase is complete before a potential buyer even speaks to a sales rep at a B2B company. This means that modern marketing plays a significant role in the sales cycle. Now, modern marketers need to tailor a message way beyond brand awareness. The message needs to be created by anticipating the buyers questions, concerns, and value perception through the cycle. It needs to be so clear that it requires no interpretation.

This is a tough one though, trust me. Get it right and you see the difference instantly. Get it wrong... well, as a former mentor used to say "good luck in your next job”.

We have more data than ever before</