With the evolution of technology, the world of marketing is becoming a more nuanced place. Consider our partners at TrinityP3 your learned guides through the e-maze.
Companies are facing major growth challenges. Following a decade of cost cutting to improve profit positions, many companies are facing falling or negative revenue growth. Evidence of this is the Coca Cola Company recently replacing the CMO role with a Chief Growth Officer.
Marketing is facing its own challenges with marketing budgets falling in real terms, while customer touch points and channels are increasing. Marketers find themselves trying to do more with less, resulting in more specialist agencies, more demands for technology investment and more confusing and underperforming media choices.
It can be argued that it is partly due to the misuse of marketing buzzwords coupled with increasing pressure to navigate a digital space that so few truly understand. Companies that recognise the need to strategically determine a marketing path that is nuanced, fluid and aligned to their business objectives, have a higher probability of implementing effective core changes in the way they market.
The reality is, the facets that impact marketing cannot be defined by a one-dimensional job title. Role functionality expands multiple disciplines with business development, strategy and data analysts all interplaying. The only single-minded approach can be centred on outcomes, not a job role that is purely linear. From marketing intern to the C-Suite, every facet of operation should be the driving force behind an often misunderstood and misused cost-centre being well executed.
Also on The Big Smoke
- Meet a CEO: Darren Woolley of TrinityP3
- The real problem with data: Marketers don’t know how (or when) to use it
It’s a complex space, and those committed to revenue, growth and increased market share will realise the importance of ensuring all team members are united in going beyond the hype and focusing on the driving force behind their decisions, and crucially, their marketing dollars. It takes commitment to understanding a customer-centric and transformative digital strategy and it takes a partnership built on a solid understanding of the complex issues facing companies today, but also importantly, the solutions.
TrinityP3 is a Global Marketing Management Consultancy, but I like to call them “marketing rainmakers”. This is a company committed to understanding the complexities in the digital and marketing space, but also dedicated to finding the solutions that work.
Global CEO of TrinityP3, Darren Woolley, says “In our experience, there is a distinct lack of brands that do measure the ROI, or ROMI (Return on Marketing or Media Investment) from their marketing strategies.”
A scary thought, but one often not discussed enough internally in companies as they try to understand what is working and what is simply not working. We want to see Australian businesses compete globally, navigate the digital space effectively and make commercial decisions based on a true understanding of the issues and considerations a company faces.
Over the next six months, we will be working with TrinityP3 to showcase the six marketing challenges companies face regardless of industry. In each piece, we will go through the challenges marketers must not only understand, but also solve. Fortunately, TrinityP3 has launched new solutions to solve these in tangible ways.
“Our major obligation is not to mistake slogans for solutions.”
—Edward R Murrow
What are the major marketing challenges you may face within your company? It may seem like a dichotomous question but it can be easily broken down into six key questions:
- Do you need to improve marketing performance?
- Or optimise your agency roster and agency performance?
- Is media transparency, value and performance an issue?
- Or is digital transformation and technology proving a challenge?
- Perhaps you want to be more agile in your delivery?
- Or reduce waste to deliver environmentally sustainable marketing?
With the goal posts constantly changing for marketers, the biggest threat to their careers is actually not being able to implement solutions that directly impact one of the six questions. Regardless of job title, it is the leadership of every company who is responsible for the bottom line that is impacted so heavily by marketing activities. With accountability and measurability available, it is time to confront the questions that deal with the fragmented experiences being faced.
TrinityP3 will be unpacking each of the six challenges facing marketers, and discussing the solutions and tools required to blend the best elements for a greater engine. One that creates the framework for not only revenue and growth, but takes into account the very system that drives a sustainable growing enterprise.