Marketing is by far the most misunderstood business discipline. Which is great for companies that can focus on the fundamentals.
You see, as most CEOs come from either a Financial or Operations background marketing is often seen almost as an inconvenience. In fact, what they don’t realise is that marketing encompasses everything a business does.
In some cases, they are marketing geniuses without even realising it!
Marketing Perspective for Non-Marketers
I often say to CFOs that the most successful investor of all time invests in brands. Yes, bring up Warren Buffet at a meeting with a CFO or CEO and they start to listen. Lots of C-level executives still confuse advertising with marketing.
The truth is that advertising is just a marketing tactic. What’s even worse is that the default position is to push budget into the most measurable channels just because they are measurable.
Running ads without a complete marketing strategy is the same as building a car without an engine.
The Marketing Triangle the Foundation of Your Marketing Strategy
To illustrate the process and transition from marketing strategy to marketing tactics which is critical to your success we have outlined the Marketing Triangle.
The marketing triangle starts with the marketing strategy. This part influences all others.
Then the next stage is the advertising creative. This is your messaging. It includes the core value proposition to your customers and how you communicate with your customers.
Advertising operations is the last component. This is the practical set-up and optimisation of your campaigns on each ad channel. As a result, you should view this as the implementation phase.
Marketing Approach – Where to Focus
In summary, here is the three steps of the marketing triangle and how it relates to your business.
1- MARKETING (STRATEGY) = Your big idea
2- ADVERTISING CREATIVE = Your messaging
3- ADVERTISING OPERATIONS = Your advertising channels
Here are the stages of the marketing triangle you need to address based on your business needs.
1- MARKETING (STRATEGY) – Do you need to Pivot?
2- ADVERTISING CREATIVE – Do you need to Reframe?
3- ADVERTISING OPERATIONS – Do you need minor tweaks?
Marketing Triangle – Video From Webinar
We covered the “Marketing Triangle” on your webinar “2020 Vision: Digital Opportunities & How They Can Make Your Business Flourish.”
Here is the section:
So, when building your marketing strategy you must understand the marketing triangle. The biggest mistake top-level executives make is jumping straight into the AdOps phase without considering strategy and creative first.
Ultimately, your strategy must be on point and resonate with the market for your business to excel. This is where the biggest improvement can be made.
You creative is also important. Reframing your messaging can deliver large gains. In a way, this is the same as changing what you say and who you are saying it to.
Finally, advertising operations is the execution phase. Yes, you can make incremental improvements here. This stage is where AI can help. However, just remember your scope for improvement is limited without the levers of strategy and creative to reposition your core value proposition.
Marketing Triangle – Frequently Asked Questions
What is the Marketing Triangle?
The Marketing Triangle is the three core components of a successful long-term marketing campaign. It outlines how marketing and advertising relate to each other and what C-Level executives and entrepreneurs can leverage marketing for revenue growth. In summary, the Marketing Triangle is the roadmap for your marketing approach.
What is the most important part of the Marketing Triangle?
Marketing Strategy is the most important part of the Marketing Triangle. A poor strategy will render the other parts (advertising creative and advertising operations) ineffective. As a result, you must understand the relationship between your strategy and success.
What part of the Marketing Triangle should I automate?
Advertising Operations can be automated. Artificial Intelligence is ideal for making incremental improvements to ad delivery and targeting. Therefore, you should not just rely on AdOps automation to rescue falling sales figures.
What do you mean by Advertising Creative?
Advertising Creative is your messaging. The core value proposition that you will lead with. The audience you will target. It also encompasses design. Because of this, your ad creative sets the tone of your campaigns. Ultimately, Advertising Creative frames your business and positions it in a way your customers relate to.