It may sound like a recruiter’s job only, but the matter of fact is, your marketing success will be determined by the skill set and experience of the person in charge of your marketing. As such, you should take a keen interested in finding the person with the right profile for your SME. As discussed earlier, in SMEs marketers have a generalist profile, but even the most broad knowledge does not cover all aspects that are necessary to connect to the target audience on an initial shoestring budget.

Hiring for the start-up phase

You want a person who can market plan and understands the value of organising not only your planning, but comes well connected to local vendors when it is time to implement activities. It is important to start off with a strong brand development. The marketer in the start-up phase can either develop brands (has a creative background, e.g., comes with a job title like ‘art director’) or is a marketing manager who can direct an outsourced team to develop the brand in accordance with your market strategy. This includes knowledge or access to market research so that the brand development is grounded in real world needs and wants of your customers. Don’t fall in the trap of thinking that all you need is a logo for your business cards, unless you are not serious of building a company brand that gives you return on investment.

A person with strong creative background may give your visual market presence the edge if you are in life style industries, however, if you are manufacturing widgets or other commodity products, you may want to consider a B2B (business-to-business) marketer with a commerce degree who understands the ins and outs of B2B marketing and out sources the creative parts on your behalf.

SME brands are now in a fortunate position to have low-cost, far-reach digital tools at their communication disposal but it requires some dedication and expertise to leverage them. Most of all, after the start-up phase, marketing is about widening the appeal and building on existing equity internally and externally of your business. You might find, that your start-up brand builder or manager does not want to continue in a monitoring role, or that stewardship and control is not their cup of tea. Find a supplement or replacement for the next phase in your company life cycle.

Hiring For Growth

This is the phase when initial ground work has been done, the company should have a brand identity and marketing direction. And a pretty good understanding who their customers and competitors are and will be. The creative part now involves planning and steering the brand. Stewardship is replacing development for the most part of the marketer’s SME role. Budget presentation, market research and campaign planning are the forte of SME marketers in a business growth phase.

The role is working closely with your sales department (where applicable) and influences service delivery and internal brand building (internal brand building: connecting your brand with your employees). How much of the stewardship can and should reside in one person depends on your growth plans and business strategy. As mentioned in part 1 of this post, its about skill distribution and industry fit.

However, somehow in the midst of ‘doing’, firms often can’t define or emphasise their competency in such ways that it would give them competitive advantage in the market. To improve the competitive advantage, we suggest to clients to look into three areas of strategic planning. The firms’ core competencies need to be identified, Market trends to be scouted for and competitor intelligence need to gathered to arrive at meaningful strategic planning outcomes.

This is where we ask- who is doing it? In smaller firms, marketing is often understaffed or not at all present. Increasing organisational capability is becoming vital if any firm wants to grow or expand. How would you know that your invested dollars are giving you return? The role of marketing in your organisation needs to be seen clearly. We encounter very different types of marketing personnel in organisations, not always with the set of skills required to identify competitive advantage for the company. In our upcoming posts, we will discuss some of the different ‘marketer types’ we think of.

Picasso (1907) Source: Wikipedia

Richard Ogle described how Picasso came to paint ‘the first real masterpiece of the 20th Centrury’, the Les Demoiselles d’Avignon. In his book ‘Smart World‘ Ogle argues that there is no such thing than the lonesome Genius who came up with the idea overnight.

Regardless of profession or calling, Ogle argues, that humankind has a collective consciousness in which trailblazers like Picasso delve to retrieve their ground breaking ideas. Picasso is quoted in referring to African art for the inspiration of this painting.

By thinking outside the brain and tapping into the extended History and wealth of experience of the extended Mind (Ogle 2007, 10) we see how all great inventions actually came to be. Think of the internet itself- Wikipedia is just one example of such an extended external brain in action.

It is interesting to look at intangible assets in firms that way. Perhaps intangible assets (Intellectual Property, Trademarks and Patents) and their nature of ’suddenly leaping onto stage’, thus ‘disrupting the status quo’ are just an expression of where we are going as a human society. Look closely and we can see how the collective conscious is opening up individual creativity, for example with the ‘Open Source’ concept.

Not one company can claim to ‘own the ideas’ since everything is connected through history, material, memory. This is a scary thought for economists and accountants alike. Yet, this disruptive idea space (Ogle) was first named by Schumpeter as prerequisite to entrepreneurship.

The intangible is quickly becoming a new stage of consciousness, a way forward to the next new thing. It is true that our current Western business models  can’t put a price tag on it- which I assume means ‘making the intangible tangible’ in current economic thinking. If the summary of collective social networks are actually creating the new value in our economies than it is time to investigate the consistency of this mix instead of denying its contribution to firm assets as not quantifiable.

“Intangible assets are the the reason marketers get out of bed in the morning”.

According to Olding, assets that make up brands, reputation and customer value are only slowly coming to the attention of other senior executives particularly in Australia.

Quantifying brand performance has senior marketers and finance executives fighting to grasp each other’s language and context.

“Quite simply, successful brands require effective marketing and financial management”

Major contributing factors to the communication gap are:

• A culture of departmental silos
• mistrust in the marketer’s measurement skills
• underestimation of the importance of brand from the senior management
• limited and fragmented relationships between departments

Olding goes on to cite two Australian business case studies illustrating her point that only a joint collaboration and coordination between Marketing and Finance achieves deeper brand equity.

She goes on to quote Prof. Don Schultz, who is summarizing the standard of Australian brand management as too little up-front investment in resource allocation and too much time spent on measuring past performance.

This is a very poignant article which is very appropriate to all firm sizes and industries across Australia. How often does your CFO/Accountant partner with the Managing Director, and the CMO/Marketing Manager/Coordinator in your business to discuss the next year in a brand panel?

>>…is the process of converting knowledge and ideas into better ways of doing business or into new or improved products and services that are valued by the community. The innovation process incorporates research and development, commercialisation and technology diffusion. www.smartstate.qld.gov.au/strategy/strategy05_15/glossary.shtm

…a newly introduced practice or method intended to improve the current practice
www.mywhatever.com/cifwriter/library/66/4620.html

…introducing an object as if it were new.
oregonstate.edu/instruct/anth370/gloss.html

…Innovation is the process that translates knowledge into economic growth and social well-being. It encompasses a series of scientific, technological, organisational, financial and commercial activities. Research is only one of these activities and may be carried out at different phases of the innovative process.
www.arc.gov.au/general/glossary.htm

…All innovation begins with creative ideas . . . We define innovation as the successful implementation of creative ideas within an organization. …<<
en.wikipedia.org/wiki/Innovation

…Innovation in Organisations – assisting our Clients in identifying and managing innovation opportunities within their organisation.<<http://www.business.curtin.edu.au

Ambler & Neely (2007) pointed out that Marketing already has a robust platform as market connector and that therefore, cashflow forecasting and brand equity are indeed viable ‘measurable intangibles’ for ‘narrative accounting’ practices.

I think you agree, that the ‘innovation’ buzzword is another example of the ‘intangible asset’ murkiness which is lurking underneath the accounting and business process surface. What’s your ‘innovation’?