The days of spending thousands, and even millions, on advertising with no way of measuring the results are over. Today’s marketing efforts are moving toward results-based payments, such as affiliate marketing and strategic alliances…but what about tomorrow?
Under historical and current marketing trends, there is still something missing about old-school advertising and even today’s results-based marketing.
What’s missing… is remembering who’s on the other side of your marketing. Your customers.
And your customers care.
They care about what you say, they care about whether you deliver, they care about not feeling spammed and taken advantage of…but ever more importantly in this day-and-age, they care about your purpose.
So what does tomorrow’s marketing look like?
The public is driving more understanding and transparency of companies’ socially responsible behavior. It’s not the policy-makers pushing the companies, it’s a demand from the public.
Here’s what I mean.
As a CPA (Certified Public Accountant), our role in society is to provide a 3rd party objective audit of corporate financials to ensure that companies are reporting their numbers consistently and accurately. Without that basic step, companies would report what favored their company to win your investment.
And what happens from that? A complete crash of the stock market (1929) because investors lost faith in what they were investing in (hence the birth of the CPA industry).
So what’s my point?
Right now, CPAs are scrambling to create consistent ways for companies to report on their socially responsible activities. For more than a decade, investors have begun demanding transparency in what companies are doing in regard to their impact in the environment, humanity and animals.
With this push from the public, companies have been doing their best to disclose, but are reporting what they each feel is right, because there are no standards or guidelines. So the SASB (Sustainability Accounting Standards Board) has been making deliberate efforts to help create the reporting guidelines so you, your retire account managers, and your brokers can feel good about what you are contributing to with your investment.
Why? Because YOU care.
So back to my point. The future of marketing must be a combination of 1) alliances that create results-based marketing costs and 2) that both have a common social impact mission. Aligning your business around a cause you really care about, and partnering with companies who can help you expand into new markets, increase your ROI on marketing costs, and compete against bigger competitors, is the marketing of future.
I call these social impact partnerships Impact AlliancesTM.
Impact AlliancesTM work across all four key drivers of business growth (culture, conversions, attraction and leverage) which creates efficiency in all areas of your business. If your business has already exceeded the Million Dollar mark, you need to seriously start thinking about this now, because it’s already here.
If you’re still working toward your first million….this is coming. Soon.
To learn more go to www.MillionDollarCEO.com and get a copy of the Million Dollar Dashboard.