Is Marketing due for a rebrand? Or are we already too late?

Are you a CEO or business owner questioning the value of marketing in your organization? Or are you a senior marketer banging your head against a wall as you try to bring your board, C-suite, or leadership team peers on the journey of marketing purpose and effectiveness?

As a senior marketer who has been around the sun a few times in leadership roles, I've had a front-row seat to the remarkable growth of the marketing landscape. IMHO, the question isn’t just whether marketing is due for a rebrand, but whether this transformation is already underway.

In recent years, we've seen a shift in terminology, with concepts like "go-to-market” (marketing strategy), "thought leadership" (content marketing), and "value proposition" (brand positioning) gaining prominence. This isn't about semantics; it's a reflection of our efforts to better communicate the value marketing brings to the table.

A terminology shift is already underway

According to the marketing world there are already a plethora of examples, designed to overcome negative perception issues and enhance understanding of marketing practice:

• "Go-to-market" strategy is often used instead of "marketing strategy" to emphasize a more integrated approach that includes sales, product development, and customer experience [1].
• "Thought leadership" has replaced traditional content marketing in many contexts, positioning the company as an industry expert rather than just a content producer [1].
• "Positioning" is now frequently referred to as "market differentiation" to highlight the strategic importance of standing out in a competitive landscape [2].
• "Account-based marketing" (ABM) has gained popularity as a more targeted approach to B2B marketing, focusing on specific high-value accounts rather than broad-based campaigns [1].
• "Customer experience" (CX) is often used in place of traditional marketing terms to emphasize the importance of the entire customer journey [1].
• "Demand generation" is preferred over "lead generation" in many B2B contexts, suggesting a more comprehensive approach to creating interest in products or services [5].
• "Revenue operations" or "RevOps" is increasingly used to describe the alignment of marketing, sales, and customer success teams, moving away from siloed departmental approaches [1].
• "Brand voice" is sometimes used instead of "messaging" to emphasize the importance of consistent communication across all channels [3].

Beware The Marketing Literacy Gap

The need for this shift is underscored by what I call the "marketing literacy gap." A similar concept to the “financial literacy gap” marketers are accused of suffering. Many business leaders still perceive marketing as a nebulous function, often misunderstanding its potential to drive business growth. This gap is a significant barrier, preventing marketing from being recognized as the strategic powerhouse it truly is.

Marketers implicitly understand the broader context of what they do – that content marketing is not just about writing blogs or optimizing the website for keywords; and positioning is not the current company tagline. But this is not universally understood outside the walls of the marketing office.

In a recent episode of Jon Evans ' Uncensored CMO podcast, Chris Burggraeve offered a compelling analysis of the current state of marketing within organizations. He suggested that, in only about 10% of companies, marketing is embedded within a customer-centric culture, owning all four Ps—product, price, place, and promotion—and directly influencing the P&L. These companies, often large CPG brands, exemplify the classic Kotler model where marketing is a strategic driver.

However, for the remaining 90%, marketing is either relegated to a "staff job" or confined to providing creative support, focusing primarily on the promotion function of the 4 Ps. In these organizations, marketers struggle to have meaningful discussions with their CFOs, C-suite, or board, and are more often lacking a seat at the strategic table.

This division reflects a broader business issue: the scope and remit of marketing are largely dependent on how senior leaders perceive its value.

To address this, we must redefine marketing's role, not just in name but in practice. This involves adopting an integrated approach that integrates brand building with performance marketing (ahhh, that old soapbox!). Rebranding marketing isn't merely a cosmetic change; it's about aligning with consumer expectations and business goals. As marketers, we need to speak the language of business, demonstrating marketing's strategic value and taking our C-suite colleagues on this journey.

More gain (for everyone), less pain (for me)

I've come to realize that one of my own limiting factors was viewing marketing as a classic strategic function, bound by my self-defined set of structure and rules. While these strategies and models are important, the function of marketing is constantly evolving, and at an exponential rate. The capabilities and skills required to be a successful marketer continue to grow. We’re not changing the list of marketing competencies; we’re constantly adding to it.

And just like every language, and every consumer, the words we use continue to evolve and change. For me, this realization required a mindset shift: how to reframe my “traditional” marketing activities and language in terms of business impact. By adopting language that resonates with non-marketing business leaders, such as "customer engagement" instead of "content marketing," the real value of marketing is better communicated.

In a previous company, I was advised not to use “brand building” when pitching my ideas to the c-suite as any activity related to brand was seen as a waste of time and money. I took this as a challenge for a personal crusade to “prove” the value of brand. In hindsight, a redirected approach focusing on our “value proposition” and “market differentiation” may have allowed me to gain buy-in faster, without the feeling of being professionally compromised.

Strategic benefits for all

Embracing this renaming of traditional marketing terms has significant positive implications for the whole discipline, and the roles of senior marketers and CMOs:

1. Enhanced Strategic Perception: By adopting terms like "go-to-market strategy" and "revenue operations," marketing can increasingly be seen as a strategic function integral to overall business success, rather than a mere support activity.

2. Alignment with Business Goals: Terms such as "customer experience" and "demand generation" emphasize a broader cross-functional approach, aligning marketing efforts more closely with sales and customer success, enhancing collaboration across departments and driving faster growth.

3. Elevated Role of CMOs: CMOs are now expected to drive not just brand awareness but also revenue growth and customer loyalty. This shift requires them to possess a broader skill set, including financial literacy, data analytics, strategic planning, and cross-functional leadership. This represents a positive change for individuals and companies.

4. Improved Stakeholder Communication: These revised concepts help in clearly communicating marketing's value to stakeholders, including investors and board members, who may have previously undervalued its impact. This can provide the opportunity to further educate your leaders (c-suite and board) on the strategic link between the business language and marketing value.

Overall, these changes reflect a broader move towards integrating marketing more deeply into the core business strategy, enhancing its perceived value and effectiveness.

Reclaiming the 4Ps

So, if you find yourself in the 90% of marketers, sitting in “staff” or “creative” marketing functions, what can you do to own these activities and deliver value (and reclaim the 4Ps!)?

1. Align marketing objectives with overall business goals, demonstrating direct impact on revenue and growth.
2. Embrace data-driven decision-making and analytics to prove the effectiveness of your marketing initiatives.
3. Collaborate closely with sales, product, and customer success teams to ensure your marketing efforts are integrated across the organization.
4. Continuously educate stakeholders on the strategic importance of marketing activities, using language that resonates with business leaders.
5. Stay agile and adapt to new technologies and channels, showcasing marketing's ability to drive innovation and stay ahead of market trends.

?

That’s right, there’s no surprises there. Our role is to continue to do what we do well, focusing on being better every day than we were yesterday. Rebranding marketing isn't just about changing terminology; it's about reshaping perceptions. By emphasizing marketing's strategic role in driving innovation and competitive advantage, we can elevate its status within our organizations.

So, the rebranding of marketing is not merely a cosmetic change but a strategic necessity. And, whether you like it or not, the change is already happening. By closing the marketing literacy gap and aligning our efforts with business goals, we can secure marketing's place at the table. This is our opportunity to redefine marketing's narrative and secure its rightful place at the strategic table. Together, let’s embrace this transformation and lead the charge in redefining what marketing means in today's dynamic business landscape.

Here endeth the rant.

A Personal Note:

Now, as I’m poised on the edge of the next stage of my professional journey, I’m reminded of the incredible potential that marketing holds. It is a privilege to work in this field, and while it is not always a smooth journey, I’m excited about what the future holds for us all. Let’s challenge ourselves and our companies to be better, to do better. The future of marketing is bright, but it requires commitment, collaboration, and a willingness to innovate and adapt. Together, we can achieve remarkable things.

I’m looking forward to continuing this conversation and driving positive change in the marketing and wider business world.

Research via Perplexity

Sources:

[1] B2B sales and marketing terms: A complete glossary https://anteriad.com/blog/b2b-sales-and-marketing-terms

[2] B2B Rebranding do's, don'ts, if's, when's and why's - LinkedIn https://www.dhirubhai.net/pulse/b2b-rebranding-dos-donts-ifs-whens-whys-matt-heinz-mk3ec

[3] Five Factors to Remember when Renaming your B2B Brand https://www.desantisbreindel.com/insights/brand-naming/

[4] 5 Successful B2B Rebranding Examples in 2023 - B2B Rocket https://www.b2brocket.ai/blog-posts/renaming-executed-accurately-5-good-b2b-renamings

[5] 35 B2B Digital Marketing Terms To Learn in 2024 - Cremarc https://www.cremarc.com/b2b-marketing-terms