Best Practices: Three Ways Marketers Can Go Back to Basics to Regain Market Share
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When Led Zepplin wrote its iconic rock anthem in 1970, “Dazed and Confused,” it could’ve been describing today’s marketing landscape. I believe many marketers are simply scratching their heads about the right ways to reach consumers today. Billions of ad dollars are being thrown at a wide variety of digital platforms, websites and search engines, often with disappointing results.
Joining the dazed and confused are many of the major consumer packaged goods brands, which are seeing their market shares tumble. In speaking with a number of marketers and those on the media side over the last several months, it’s apparent that brands are redirecting ad dollars to all things digital, in an attempt to gain favor with the ever-elusive and alluring millennial audience.
But taking dollars away from magazines, for example, and putting them on Facebook, simply isn’t going to solve the market-share erosion conundrum. And moves like this explain the recent rash of media agency reviews. An alarming number of CMOs just can’t seem to find the holy grail of effective marketing anymore.
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