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Peter Drucker is widely considered to be the father of modern management theory.
Many of his papers and books are required reading for management students and I think it'd be hard to find a top CEO who isn't familiar with his work.
At a time when some digital marketers - especially those who focus on "social media" - claim that results are too difficult to measure and that brands need to put their existing notions of what constitutes “return on investment" aside, I increasingly find myself believing that the world of digital marketing would benefit if some of Peter Drucker's wisdoms were applied consistently to the execution of digital marketing campaigns.
Drucker's Management by Objectives, for instance, was originally designed to provide a strategy for managing people and organizations.
Its SMART methodology for validating objectives states that all objectives should be:
Of course, much of Drucker's wisdom is common sense and good marketers have always applied similar principals as part of their general modus operandi.
But as the world of digital marketing matures and the wheat is separated from the chaff, I think smart digital marketers should redouble their efforts on adhering to a philosophy rooted in common sense and good practices.
As Drucker observed:
"Quality in a product or service is not what the supplier puts in. It is what the customer gets out and is willing to pay for. A product is not quality because it is hard to make and costs a lot of money, as manufacturers typically believe. This is incompetence. Customers pay only for what is of use to them and gives them value. Nothing else constitutes quality. [Emphasis mine]"
Digital marketers might want to keep this in mind.
Absolutely... and the same applies to measurement - start by measuring the outputs of a campaign. If it's moving in the right direction, you're doing something right.
Your accounts department will tell you what the input cost. You may not know exactly what's caused the RoI needle to move in the right direction - but that's what testing is for. You may never need to know what each individual input action has cost. Sometimes a back of a fag packet calculation is enough to tell you that the cost/return isn't a big risk.
(When is somebody going to produce "back of fag packet" notepads, now that nobody actually *has* a fag packet anymore?!)
This isn't anything new - measured marketing has *always* been a mix of gut instinct, testing and measurement: art & science. The new challenge/mistake that digital creates is the sense that because everything can be measured, you should measure everything. Maybe sometimes the effort's not worth it. Maybe sometimes you have to go with your gut instinct, and see what happens.
;-)
Will
who came here from econsultancy's twitterfeed!