I was grateful for the later start this morning – I felt like I’d been hit by a bus when I collapsed into bed last night.
In a caffeine-induced buzz I got into the morning’s keynote session and strapped myself in for what proved to be another bloody brilliant day at Mumbrella360. Just like yesterday, Day 2 was jam-packed full of awesome speakers, great ideas and razor sharp insights. Here are five of the more memorable moments from Day 2 of Mumbrella360:
“You can’t polish a turd”. It’s probably one of the least glamorous terms in marketing but contains an undeniable truth. No matter how slick your marketing is, if your business’ product lacks real consumer value you will always be trekking uphill to turn in a profit. Whenever I look at a marketing problem for a business, I always first check to see if there are any operational areas of improvement that can be quickly fixed. Often fixing up problems like stock control, organisational efficiency and internal systems can lead to greater benefit than any actual consumer-facing marketing initiatives. I call this marketing from the inside-out, which simply means ensuring that your internal business conditions live up to your external marketing messages. Without a strong internal environment and integrity within your business, consumers and critics will soon find you out. I’ve touched on this concept before in my ‘Mission-led Marketing’ article, but let’s look a little deeper.
The significance of the mission statement in guiding marketing and business strategy is well worth considering. In many cases, missions are thrown together as lofty, flashy and unquantifiable statements that give no workable purpose for the organisation to pursue. Here I’ll discuss the benefits of a strong mission statement in guiding strategy and the pitfalls of ignoring the power of inside-out marketing.