Would the history of retailer JC Penney be any different if its board had sought the views of marketing professionals and others before draining the company coffers of $170 million acquiring a new management team and one billion on making merchandising changes?
If a company doesn’t value its marketers’ independence, it should be prepared to make unnecessary and costly mistakes.
Have a clear picture of what you’re doing
In a recent Psychology Today article, Sam Gosling, Ph.D., a personality/social psychologist at the University of Texas, Austin, says there are some things about ourselves that we see quite clearly, such as judging our own self-esteem, optimism and pessimism. But when it comes to other things in which we’re heavily invested, such as intelligence, attractiveness, body language, we have a lot of blind spots.
And it’s the same for companies. They not only know what they do well but they can become overly enamored with their excellence. In other words, companies can fall in love with themselves.
There are countless businesses that fail to understand that such self-love is misplaced and dangerous, and is quite different from loving your customers, which is only possible when you stop looking in the mirror every morning.
Companies, like people, can become so preoccupied with themselves that they fail to see themselves as they are.
When you think about it, getting the most from your company’s marketing has less to do with ads, sponsorships, events, websites and press releases than it does with applying the analytical capabilities and insights of marketers to a company’s basic business issues.
John Graham of GrahamComm is a marketing and sales consultant and business writer. He publishes a free monthly eBulletin, “No Nonsense Marketing & Sales.” Contact him at email@example.com, 617-774-9759 or johnrgraham.com.