Gearing up for re-entry into the Derby Entrepreneurship Center@Tufts since in four weeks, I'll need to accelerate from my normal 70 mph day-to-day Derby Management work to 110 mph at Tufts.
That faster pace and my personal excitement of Tufts are the result of the tight integration of my teaching marketing to 36 juniors and seniors who are already signed up in six person teams working on six complex semester-long marketing projects. Of these six projects, three are well-known companies to Derby Management, one is an emerging company begun by one of my alums, another is a startup from a very well-known nutrition scientist here at Tufts, and the remaining is a fascinating consumer healthcare product.
The bottom line of the kickoff on September 7th is that full marketing plans complete with research, strategies, tactics, detailed recommendations and budgets will be presented to their customers for grading during the first week of December.
The 1st class begins with "So, what is Marketing?"
The class actually begins with a 15-minute, rapid-fire, standup 15 question quiz on one of the summer assignments which is to complete what I call "a beach read" of David Meerman's Scott's iconic, 8th edition of The New Rules of Marketing & PR.
That exercise is then followed with my favorite question which I always ask in my kickoff class at Tufts and at MIT. It's a very simple question, and for me a very simple answer, which I do not provide until the whiteboard is filled with answers from the students which typically include words such, "convincing", "selling", "social media", "ads", "PR", "branding", "lead generation", "pricing" and even a few negative words like "tricking" and so on.
Marketing is Everything!
I always go back to the iconic Marketing is Everything article written by Regis McKenna, one of the most influential marketers in history, and one of the small number of individuals who began what is today known as Silicon Valley. I find that the underlying premise of this 30-year-old article is even more critical today given the explosion of choices everyone has in their marketing strategies, tactics, platforms, tools and apps, most of which are powered through AI and bots.
And let's not forget that the hyper-crowded graphic above is only martech and does not include radio, TV, snail mail, billboards or trade shows which continue to have a major role in what we call "marketing"!
The good news is that marketing is everything! The bad news is that marketing is everything! And many non-progressive marketers continue to believe that what they did five years ago, or even last year, is still relevant or sales productive today. The reality is that it may be, likely it is not.
Many of us believe we're pretty good singers in the car or the shower, but only a tiny 1% of 1% of 1% of 1% become paid singers. It's the same with marketing which is why I teach the subject since it's constantly being updated, and the true job of any good marketer is to figure out the highest impact at a cost that fits into a budget that drives sales qualified leads. The result is as simple as that, which is why we always measure CAC as one of our top three primary metrics. The complexity comes in the making of the choices.
marketing Success is making choices...and measuring everything!
The exciting part of our course is the ability to learn and experiment in real time. The students can set in motion the marketing tactics of ads, social channels, PR and which blogs and which events have impact and be able to measure all of that in their Hubspot marketing platforms. All the incoming students must be certified in Inbound Marketing at the beginning of the semester.
Just some thoughts for a late Friday morning to think about over what looks like a spectacular summer weekend, which will find me walking across the street to the NH beach.
At any time, if you want to discuss your own sales and marketing planning for the rest of this year, just connect with me for some quick ideas and feedback. There's no cost to a call or two, plus I love listening and talking about this new rapidly changing world of sales and marketing. It's nothing like the old days of 2020! In the meantime, take a look at our 2022 edition of "Writing the 2022 Winning Sales Plan" , or our Writing the Winning Marketing Plan in 2022.
www.derbymanagement.com
Derby Entrepreneurship Center@Tufts.
https://www.tufts.edu/
