There are a lot of definitions for marketing. Some simple; others long-winded.
Dr. Philip Kotler is one of the world’s best thought leaders on marketing management and marketing strategy, and I think his definition is the best one: “Marketing seeks to minimize the randomness in the market’s response by creating, communicating, and delivering value to the firm’s target customers.”
Last week I brought in a SEO (Search Engine Optimization) and SEM (Search Engine Marketing) expert in to talk with one of my classes. About half-way through his presentation I was thinking about some of the application of SEO and SEM on some of my projects, and then it hit me like a left hook from Gerry Cooney (ramdon reference I know): from an integrated marketing communications perspective, SEO and SEM are one of the few ways that you can actually ‘minimize randomness’.
The depth and breadth of how people become informed, evaluate options and make decisions is all over the place. However, when has there been a better option for marketers to engage with individuals when it is appropriate for the customer and not the firm? When has there been better insight into how potential customers are thinking about products or services? When has there been a better option to learn about the top of mind words or phrases associated with a good or service? Yes, SEO and SEM can get expensive-anything that is effective typically is. However, the one thing I learned the other night is that unlike hanging a billboard on 490, using SEO and SEM to drive awareness and engagement requires patience, thought and continuous adjustment. You can literally have your assumption tested by the market in minutes; I think these 50 terms reflect the market’s association with my good or service? True or False? Moreover, one can see what the true pain points are in the market. Have an idea? Go see if people are searching for resolutions.
Marketing is about minimizing randomness, and leveraging SEO and SEM can reduce the randomness in marketing strategy and tactics.
