Marketing as a Profit Center
I recently sat down with Joe Pulizzi, Founder and CEO of Content Marketing Institute. We discussed his new book Killing Marketing, which is essentially about making marketing a profit center. Don’t believe me? Read on or watch my video conversation with Joe below.
What is Killing Marketing About
Joe co-authored this book with Robert Rose, Chief Strategy Officer at Content Marketing Institute. The rumor is that Joe and Robert Rose are out to “kill marketing” as we know it. In their new book, they discuss the future of marketing as a profit center, which is why they chose a provocative title. Let’s face it — most marketers don’t think that way.
The book is about how to build a loyal audience and a business model to launch new revenue lines never thought of before. Rather than traditional, interruptive marketing, you can learn the needs of your audience because they want to share that information with the brand. Build a strong relationship with that audience. Rather than just selling them our products, we can learn from them to discover new ways to serve them and generate revenue.Marketers, what do you need to do to get a buyer's attention? @joepulizzi shares the answer @bernieborgesClick To Tweet
This strategy requires a 12 to 18 month investment. Building a loyal audience doesn’t happen overnight. Most marketers would be skeptical about this approach to marketing. But, now we have tangible examples of brands who focus on building an audience.
This approach to marketing is not for all brands, but the most innovative brands will do it. Some brands succeeding at this approach to marketing include RedBull, Pepsi, Mondalay, Kraft, Marriott, and Arrow Electronics. Kraftrecipes.com gathers data from their audience to spot trends and guide their new product developments. They’re treating marketing as an R&D department.
It takes commitment and patience to build an audience. Arrow Electronics decided not to build an audience. So they’ve acquired 51 media brands. Through their media properties, they reach 76% of their total addressable audience. This model is profitable for them. And, they gain more insight into their customers.
Who Should Read Killing Marketing
The intended reader of Killing Marketing is the marketing leader, the CEO of a smaller company, and sales and marketing practitioners. This is the new marketing. Some have had trouble selling “audience building” as a strategy to internal stakeholders. Killing Marketing will help convince the skeptics.
The book will be available September 19th, but if you’re attending Content Marketing World, you can buy your copy there. It’s time we start redefining marketing to focus on building an audience. The modern consumer needs a modern marketer. This book from two top marketing experts shows how businesses can transform their marketing strategies into a standalone profit center. Preorder your copy on Amazon.The modern consumer needs a modern marketer. @bernieborges #marketingClick To Tweet
P.S. Meet me at Content Marketing World where I’m speaking on The 5 Most Influential Topics in B2B Content Marketing.
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- Content Marketing Institute’s website
- Get your copy of Killing Marketing
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This podcast originally appeared on Social Business Engine