Excerpts and takeaways from the book 'Quantum Marketing'
Munavar Attari
Corporate Reputation | Stakeholder Relations | Communications I Crisis Management I Advocacy
Introduction
The book starts with a general lack of trust of business leaders in marketers – therefore, as an extension in communications and public relations? Some marketers understanding technology deployment and tools (A-B testing, data, etc.) but, care less about classical foundations (4Ps, positioning, creative, emotion, etc.) and vice versa. We need both. The book discusses five paradigms for marketing - the FIFTH being the current or emerging.
·??????THE FIRST PARADIGM: THE PREMISE OF LOGIC AND RATIONALE
·??????THE SECOND PARADIGM: IT IS ALL ABOUT EMOTIONS
·??????THE THIRD PARADIGM: THE INTERNET, DIGITAL MEDIA, AND DATA
·??????THE FOURTH PARADIGM: ALWAYS ON
In the FIFTH PARADIGM, brands create excitement, engagement, and inspiration for their products and services using new technologies, new media, new frameworks, and new insights. Consumers expect not only great products and experiences, but demand use of all the resources available to make a positive difference to society as well. The key factors that determine success are: authenticity, immersive interactions and experiences, real-time marketing, sensible and sensitive marketing through the consumer life cycle, and remote delivery and management of everything from the more obvious logistics to experiences to product demos to training and development of the marketing teams to learn and stay at the cutting edge of the fields that impact marketing.
Key takeaways for communications and public relations – reputation, purpose, crisis that related to the FIFTH paradigm of marketing
“Reputation management. In many evolved companies, marketing and communications/PR have come together. After all, they are a single continuum. Marketing is the brand talking about itself. PR is getting other people to talk about the brand positively. When a social media post appears, it has the potential to create or destroy a brand; so, is that the responsibility of digital marketing or digital communications? It doesn’t matter. The answer is yes! In a world where a ton of negative talk and fake news happens, many brands are going to get talked about in a poor light, sooner or later. Marketers absolutely need to have plans to defend their brands and protect their reputation and not let consumer trust erode. Whether it is brand building or managing a brand’s reputation, it is brand management at the end of the day; and that is at the core of a Quantum Marketer.”
TO DO’s
领英推荐
Purpose – overused and abused?
The basic idea: companies have to not only do good for their shareholders and employees but also do good for society at large. Unfortunately, a level of political correctness clouds out serious examination of purpose and whether “purpose driven” truly drives better company performance. However, purpose has become the catchphrase for life coaches, TV ministers, and corporate advisers. It’s the in thing within corporate circles and the media. ?Therefore, journalists (and shareholders, investors, employees, etc.) are rightly asking the tough questions about lack of authenticity, “purpose washing” and they are challenging the very hypothesis.
Purpose – going from ‘is’ to ‘ought’
Purpose is the fundamental reason why a company exists and it is the North Star, a guiding principle, a core value of a company. On the other hand, cause marketing is more about a specific set of initiatives, campaigns, or activities that do good for the society. Purpose is why a company exists and what is guiding it, whereas cause marketing is about specific initiatives that do good for the society.
When cause marketing is done solely by identifying causes that benefit society, without being tied together into the company’s larger narrative or business mission, it will be nothing more than an isolated series of good activities lacking purpose. So, it is very important to identify those causes that emanate from, or drive toward purpose. Unless purpose is consistently pursued or a cause is fought for, consumers will not associate the company with that cause or perceive them as a purpose-driven company.
Purpose drivenness connects cause marketing and business outcomes. Purpose should not be fluffy, nor is it meant for political correctness or annual reports (only). Companies need to pursue purpose because it is the right thing to do, because consumers are willing to vote with their wallets in favor of purpose-led brands, because younger generations of people want to work only in purpose-driven organizations. Some employees are even willing to take a cut to their compensation to work for a company they believe does good for the society and is purpose driven, so it can be or is a huge competitive advantage to attract and retain top talent.
Lack of ethical behavior on the company’s part, also erodes consumer trust. It is shocking that nearly two-thirds of consumers don’t trust the brands they buy. If there is something negative about your product, it’s better to declare it up front. If not, be ready for a "PR firestorm".
Crisis communication – playbook
At times of crisis, the PR or communications team will play an absolutely crucial role. Nothing is more important than to let all key stakeholders, both internal or external, know exactly what is happening, what the brand is doing about it, and why they should feel comfortable that the brand is doing the right things to control as much of the situation as possible. It starts with internal communications. Everyone needs all the relevant facts and should be operating from the same page. A company’s employees are its best advocates during a normal situation, and even more so during a crisis. For external stakeholders, a clear strategy needs to be mapped out, a proactive outreach needs to be made, and appropriate information shared. Leverage influencers as they can advocate (authentically) for the brand. This is influencer marketing of a different flavor.
Many times, communications experts avoid a social media war. They feel, rightly so (?), that when a brand jumps in to defend and clarify, it only aggravates the situation and prolongs the news cycle. So, they watch. A better approach, often, is for the company to assert itself and clarify, rather than run or hide. If the company made mistakes, own up, apologize, and let the consumers know what is being done to rectify the situation. If the company stays silent, social media audiences (and media) will become the judge and jury. Make sure that people hear the company’s side of the story. Marketers cannot over-communicate with their teams and agency partners during a crisis. It is vital the team knows their managers and company management are there for them.
The speed and scale of the FIFTH PARADIGM will inevitably result in its fair share of crises. Expect them and be ready to tackle them!
?
?