Marketing 3.0 summary

New forms of advertising are marking the emergence of a new economy, in which an increasing number of people work in the creative sector as filmmakers, writers, website designers and so on.

While these creative workers still represent a relatively small sector of society, they exert considerable influence through their lifestyles and opinions. In addition, these consumers have sophisticated desires that demand a new approach to business and marketing.

A useful way to look at our existence as humans is to view us as comprising four basic components: a physical body, a rational mind that analyzes the world, a metaphorical heart at the center of our emotional needs and responses and, finally, the soul, our spiritual center.

Each of these fundamental elements has its own needs, and successful marketing means appealing to these needs. However, traditional marketing only actually targets two of the above components.

You know that lots of people are interested in making the world a better place while satisfying their spiritual desires, which means companies must demonstrate nobler goals. But how can you get started?

The first step for every business is its mission. Management legend Peter F. Drucker once said that businesses should plan based on their missions, not their financial goals. When you speak about a corporation’s mission, you give it a reason for existing in the first place – a base purpose. For instance, in the case of Timberland, their mission is “to make it better.”

Letting customers know that your company works for great things is vital, and the tool to get you there is a powerful mission that is well communicated. Here’s how to make it happen:

First of all, your mission should involve presenting something that transforms your customers’ lives. To that end, it’s essential that companies work hard to produce innovative ideas that can truly make a difference.

Imagine your family is spending the weekend at Disneyland. Your kids desperately seek out Goofy, their favorite character, but are sorely disappointed to find him, or rather the actor who plays him, to be gruff and rude. What happened? Isn’t Disney supposed to be the most fun and kid-friendly place on Earth?

This is a great example of how corporate values only appear to be authentic if they’re shared by employees and reflected in the corporate culture. If your company claims to hold a certain value, like being family friendly, but doesn’t reflect it through corporate practices, your employees and customers are sure to notice.

It can be tempting to go for short-term profits to satisfy your shareholders, but you’re much better off resisting the urge. After all, short-sighted management is harmful.

Short-sighted management decisions damage your company’s long-term prospects, along with its stakeholders, who are the people your company affects, like its employees, neighbors and the general public.