Catalyst Issue 8: The Value of Marketing
- 07 August 2017
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If you want to get philosophical about the meaning of value, then dust off an old copy of Plato’s Republic.
The ancient Greek writer makes the distinction between things that have intrinsic value, and others whose value is instrumental. Essentially, what Plato draws our attention to is the realisation that not all concepts and estimates of value are the same.
Sometimes, the difference between how one individual judges value – compared with how others see it – is vast; it’s like those fun internet memes that show images of what you ‘actually do’ at work compared with what your friends ‘think you do’. Marketers might recognise this scenario. You may have the vision and the insights to create a marketing strategy that you believe will deliver real value to the business and to the customer – but does the wider organisation share that vision? Does it value the strategy as highly? Does it believe in it? And have your customers told you it’s what they want?
Part of the task for marketers is to demonstrate how there is synergy between what marketing does and the overall business strategy, and how it meets customer needs. Marketing is – and must be shown to be – transformative: or, as Plato might put it, ‘instrumental’. That means proving how and why it will make things happen, through knowledge of the customer, assured delivery, measurement, and communication. Connect these together and you’ll find real value.Back to all