I have a funny skill to come up with Yogi Berra-esque quotes that are off-the-cuff at the time, but then prove to be even more accurate than I realized initially.
Last night, at a local workshop for entrepreneurs, I did it again. I was talking with a peer after the event and I said,
“Channel trumps promotion…”
In this case, I was referring to a local start-up who is doing all the new cool edgy marketing tactics, but wasn’t really putting much value in how their product would get sold. They have a solid distribution partner who’s getting them into key retail outlets, but that’s not energizing the brand in their minds. As I thought about it more afterward, I find that this is an all-too-common problem in demand generation and marketing.
Case in point – a couple of years back I was talking to a technology company who’d basically been built on defense and government contracts. They wanted to start to sell into more consumer markets (a familiar theme) and they had identified 2-3 possibilities. What they were looking for from me was a marketing plan to penetrate one of these markets.
As it often is, one of my early questions was, “How will you go to market?” The answer was both revealing and frustrating. Turns out they had a potential deal with a humungous OEM who basically owned that segment. We’re talking a “these guys would buy 100% of what we could possibly manufacture” type deal. Yet they wanted me to build them a plan to reach end users. Ummmm, how about if we chase that OEM thing down first, guys?
If you’re in Marketing and you’ve never “carried a bag” (i.e. been in field sales), it’s easy to dismiss the importance of a connected, effective sales channel. Want to sell high-pressure filters for use in refineries? If you don’t have either a direct team or a group of reps who know the industry and have access to key contacts, it’ll never fly, Orville.
I’ve said this before and I’ll repeat it – sales and marketing are interrelated, interdependent disciplines. HOW you go to market is tremendously important to WHAT marketing strategies you will employ. If you haven’t figured out the former, the latter will nearly always fail.
Easily over half the entrepreneurs (who, BTW, had some pretty cool products and ideas) at last night’s event hadn’t really figured that out yet.
Marketing can be an answer. But first you have to figure out what the questions are.