Cheaper, better, faster?
May 2010
The subtitle of my Lean + Green Manufacturing blog is “…making products cheaper, better, faster”. Not very elegant perhaps, but in line with the traditional mandate for manufacturing management. Of course, satisfying the customer is the ultimate goal, but manufacturers are driven to do so at the lowest practical cost; the highest quality within the limits of technology, equipment, budget and skill; and as quickly as possible to meet demand, reduce inventory, and increase responsiveness to changing markets.
Are there equivalent mandates for marketing? Perhaps we should consider cheaper / better / faster here as well.
Marketing budgets are always vulnerable to cuts the first time there is any kind of business challenge – isn’t it always the first thing management cuts when they need to reduce spending? Arguing against this strategy here would be preaching to the choir. Nevertheless, marketing, like manufacturing, is continually driven to reduce costs and get “more bang for the buck”. We typically send out press releases, cajole editors (a dying breed), and these days, use social media to get the word out with the lowest direct cost. (ie. cheaper)
And who doesn’t strive to get better? We in marketing are continually learning to use new outlets, craft more compelling text, find images that grab attention and convey the message in a new and compelling way. With shrinking (and unstable) budgets, we have to get more creative all the time in looking for that ‘better’ way to reach out.
Faster almost goes without saying. The sooner the message gets out, the more opportunity there is to call attention to your company’s products and blunt the competitors’ messages.
Marketing is producing a product, much the same as manufacturing. Our product is awareness and demand and the vehicles we use (the production equipment) include ads, white papers, web pages, press releases, brochures, etc., etc. We are challenged to use all appropriate vehicles in the most effective way, within the resources available (budget) and in the time frames dictated by company needs and media deadlines.
So why shouldn’t we manage our marketing activities the same way a manufacturer manages inventory and production? Prepare forecasts, put together a ‘master schedule’, schedule and manage resources, meet objectives on time and within budget? Maybe we don’t want to be as formal as plant scheduling (we are creative types, after all), but it would be a good thing to think of marketing as a resource management process.