Globally, the marketing services industry is worth about one trillion dollars. That’s an awful lot of dosh spent employing an awful lot of very clever people doing mostly less-than-wonderful things.
The underlying problem for the marketing services industry is it has lost sight of its real customer. It has confused the person who pays the bills (the client) with the person who stumps up the cash (‘the consumer’, who pays covers the cost of the bill when he or she buys a product or service).
Clients and ‘consumers’ have different objectives when they go to market. The client’s prime concern is the search for (profitable) customers. The buyer’s prime concern is the search for best value.
The output of the marketing services industry – 30 second TV spots, junk mail and so on – is designed solely to pursue sellers’ purposes. Buyers’ purposes go unaddressed, even though buyers are actually footing the bill.
To test this thesis out, just ask yourself this. If junk mail or 30 second TV spots were products like any other – in other words, if they were purchased or not purchased according to buyers’ perceptions of the value they deliver – how big would the industry be then?