I found some powerfully salient points in a recent post headlined “The New Realities of Advertising Costs” – from a blog that caters to folks who work in the non-profit world.
The most compelling of which is the idea that product marketers must accept the reality that the market will determine their relevance. This is Truth with a capital “T.”
We’ve had clients tell us they wanted more call volume, telling us that as soon as call volume goes up they’ll pay us more per call. Sadly for them, the winner’s logic is the inverse of their perspective. The product marketer who understands there are far more products chasing dramatically fewer available slots – in radio, for example – will be at the forefront of the process, asking how much they must pay to maintain or increase their response rates. They understand the process, and know that safeguarding marketshare, with the potential for increasing it, only comes at paying more per call than the competition, who is most typically ready to jump in and steal what the leaders are unwittingly willing to give away.
The smartest marketers out there are the ones who understand that they can actually lead the market, setting the bar for what is relevant, and make the market follow them. The answer is to lead!