As hardcore pragmatists helping our clients find a marketing advantage, we’ve had to define just what marketing means. Some lucky companies with a strong marketing culture have marketing baked into their company DNA. But for many, marketing is sadly misunderstood, often laden with academic jargon, and only begrudgingly acknowledged.
Distilled down to its essence, Marketing is just Solving Customers’ Problems Profitably. So successful marketers have to answer three fundamental questions:
- Which customers? Who have you traditionally served? Who are your best customers? Who are you structured to serve? To whom do you have access? Which of your current customers would you really rather not have?
- Which problems? What are you really good at? How prevalent are these problems? How important is your solution to the customers?
- Can you do so profitably? Is this a good business for you to be in? Are you ready right now? Do you have the capabilities, the resources, and the structure to be successful at this?
Not every good idea becomes a good product. Not every good product becomes a good business. And even if it might be a good business venture that does not mean it’s a good business for our company.
So look in the mirror (to candidly see what you are good at), and also look out the window (to see what your customers really want and which other companies are already there). Focus for impact – and be well on your way to Solving Customers’ Problems Profitably.