mercredi 23 octobre 2013
Marketing - Art or Science?
Is marketing an art or a science? The answer is yes. Marketing is both - an art and a science. Enjoy this point and counter point about the art and science of marketing. Use the strengths of both arguments to better understand and improve your marketing.
Marketing is a science because marketing is about understanding and influencing behaviors. Psychology, the science of behaviors, studies how people react to certain stimuli in predictable ways. This is similar to Newton's' third law - cause and effect. For every marketing action there is a reaction. The science is in anticipating the reactions to your actions.
Marketing is an art because marketing is about appreciating the nuances of human behaviors. Beauty is in the eye of the beholder. Beauty is art.
Marketing is a science because marketing is about measuring and analyzing the numbers. How many prospects do you reach? How many people read your message? How many do you convert to buyers? How much do they spend? How many buy again? These are mathematical questions and answers and important to the success of your marketing. Math and accounting are important sciences to your business.
Marketing is art because marketing is about creating a demand for your product. Some of that demand is immediate and some of it is in the future. You can try to use science to predict the future part but you might pick a number based on art. There is always an unknown aspect that we attribute to art.
Marketing is a science because the most common question is "How much money should I spend on marketing?" The business owner and the accountants want the answer to this question. It's a good question but the more important question is, "What return can you expect from your marketing investment?" That's an important question and it is measurable like science.
Marketing is an art because there is the issue of branding which is difficult to measure. To generate a good return on your marketing investment requires a creative approach. That means that you need to apply the art of marketing. That is difficult to measure but it is necessary.
Of course the argument of science versus art could go on. Is it art? Is it science?
I believe that many marketers try to portray marketing as art when they can't measure their results. Hence they give up responsibility for their marketing programs. They suggest that marketing is all chance. Many self-declared branding experts talk about the art of branding and refuse to face the science of measurement. Don't be fooled by that hocus pocus.
I believe that marketing is a science that should draw upon the art. Never let art dictate the direction of your marketing. Use science to determine major decisions and use the art for the nuances.
Is marketing a science or art? I believe that it is both art and science. Most importantly the science should lead and measure; the art should inspire and create.
That is the art and science of marketing.
© George Torok: Practical marketing expert and speaker. Book: Secrets of Power