Steve Jobs liked to say that it’s not enough to kill bad ideas, you have to kill good ones too. That’s because good strategy is about making choices and it takes more than intelligence or even instinct, it takes discipline, one of Jobs’ most overlooked qualities.
Marketing strategy is particularly difficult because, as I’ve noted before, the rules have changed. A generation ago, brands mostly strove to create buzz and “drive awareness,” now they need to build compelling experiences that keep consumers engaged.
However, the old tasks have not gone away. We still need to run TV ads and in-store promotions, man conference booths and hand out brochures, but now on top of that we have a whole new world of algorithms, apps and devices to master. To meet the new challenges, we need a new strategic approach, a new mindset and new organizations.
It used to be that marketing strategy focused on the sales funnel. You would get people’s attention, tell them about your product or service, convince them why it should be their preferred option and then drive them to action.