Friday, January 30, 2015

4 'T' of marketing. A musing on Four letters



I am not a marketing guy. For me it is purely a voodoo science like an ancient alchemy trying to convert Philosopher stone into a gold. Sight of customer scares me. To explain to them all the nitty gritty things about product or getting their feedback is a nightmare. In my almost ten years of experience in software development I hardly entertained  a call with client. If I had to, I would always make an alibi to somehow put it off. And believe me those few instance that simply couldn't be obviated,  had been so bad its even hard to put  it into words. Trying to balance two contradictory forces of maintaining good veneer  all the while temper rising underneath is akin to unstoppable force hitting immovable object. In the hindsight I am glad that I kept that zen mystic going throughout otherwise the entire meeting might have dissolved into a brawl for all.

 My first foray into the subject was much maligned. During my  MBA course the portion of 4P- Price Product , Place and Promotion as the fundamental tenet for entire marketing  was pedantic and boring, that I was completely sure that I would flunk it. The only thing I knew about marketing then was advertisement. Like Marlboro man lighting the cigarette or in Mad Men episode Don Draper giving that demo of wheel and using all that nostalgia as theme. You can check it out on Youtube, the best marketing pitch you'll ever see.

But coming back to marketing before even digesting the topic I was thrown into another curve ball with 4C- Customer, Cost, Convenience and Communication. Though seemingly same thing they have subtle difference with 4C main emphasis on Customer rather than market. Then I remembered the age old adage- "Customer is God". That made lot of sense. But what if God is an idiot. How is one going to market that situation? Something puzzling. Perhaps one should ask late Steve Jobs. Apparently his turtle neck sweater sure did know how to create that itch in the back of customer for them to be lured into a honey trap.  

And of course as I was wading through 4C all the while scouring the net, with grim countenance I learned that some wise marketing  guru has come up with 4V - Validity, Value, Venue and Vogue. The whole idea was to put what customer actually values as center  of focus rather than product or services. Pretty smart. Why didn't anyone think about it before. Seems apparent enough. And as I was pondering and going through reddit forum suddenly my eyes fail upon 4E of marketing - namely Experience, Exchange, Evangelism and Everyplace. Something that propped up from teaching of Jerome McCarthy (Note no connection what so ever with Joseph  McCarthy) regarding inbound marketing. Believe me at this point I seriously wanted to imitate that protagonist of Edward Munch "Scream" and made wailing cry on top of bridge. But alas I was sitting in my room in front of my laptop and that would certainly wake up my dog, which was the last thing I wanted to do.

Then all of sudden a epiphany like jolt of thunder hit me. Hey why don't coin your own 4 alphabet that describes marketing. Sounds cool enough. But is there anything left that Michael Porter and et hasn't unearthed yet. But still it was an adventure right. So there I was sitting in front of my laptop and juxtaposing some invalid thoughts and like waving Magic Wanda came 4T which goes like this -Trust, Traction, Technology and Trend.


a) Trust: If people trust your service or product then they will buy it no matter what. It's the best bait and nothing can beat it

b) Traction: You don't want a onetime customer. You want your customer to be a milk cow that you can milk every day. Success of your business certainly depends on returning customer. If you don't have that traction then you are nothing but a street peddler.

c) Technology: Do I need to say more about this? It is a buzz word. Attach technology to anything and it becomes cool. I wonder why they haven't come up with the word called Political Technology yet. Anyway use technology to innovate your product. It does not need to be big but simply out of box and you'll discover that sales are up and costs are down

d) Trend: You don't have to be Karl Lagerfeld to define trend. Trend is something hip. It's like selling same old garbage in shiny new wrapper. Only trick is making people think it's something out of this world that they simply can't ignore it.  I remember few years back I told a offshore developer to contact me in hotmail and she said that is so 2000.  You don't want to be that. Key is your product should be something that people talk about. At the end it is all show business.

Anyway this disquisition is getting kind of long. Who knows 4T might also catch up and become more trendy.  Believe me that's my own marketing ploy.