Larry Fink, Founder, Chairman and Chief Executive Officer of BlackRock, Inc, the world’s largest asset manager, has published his latest letter to CEO’s. This year’s theme is “Purpose and Profit”, which can be easily translated to the property industry.
Mr Fink says that “As we enter 2019, commitment to a long-term approach is more important than ever – the global landscape is increasingly fragile and, as a result, susceptible to short-term behaviour by corporations and governments alike.”
Furthermore, Fink says, “One thing, however, is certain: the world needs your leadership. As divisions continue to deepen, companies must demonstrate their commitment to the countries, regions, and communities where they operate, particularly on issues central to the world’s future prosperity. Companies cannot solve every issue of public importance, but there are many – from retirement to infrastructure to preparing workers for the jobs of the future – that cannot be solved without corporate leadership.”
In a recent blog, marketing leader Seth Godin raised the question: Who was the first person who decided to fix the couch with tape?
The premise is that a couch in a theatre foyer was mended with seven strips of black gaffer tape.
“The first taper decided that it was okay for this theatre to have a taped couch. The first taper didn’t make the effort to alert the authorities, to insist on getting the couch repaired properly.
The first taper decided, “This is good enough for now.”
“This is how we find ourselves on the road to decay,” said Godin.
These two articles got me thinking about the role of the marketing function in setting high standards and demonstrating leadership.
Here are some of my thoughts:
- What makes the marketing role difficult is that everyone has an opinion and wants to share it. You need to be strong enough to make them feel heard but also make the tough choices.
- Work with the extended team to develop a value proposition for your project. A value proposition is created from the customer’s perspective. Why would they choose you? From there, developing strategy is much easier as you know what will ease a customer’s pain.
- You are the conduit of brand messaging to the outside world. You hold the key to understanding what the customer wants and should be constantly in touch to stay on top of changing consumer behaviour.
- Own the customer experience in the project lifecycle and utilise external experts to help you deliver a market-leading strategy, above, through and below the line as well as at the front line.
What other leadership roles do you think the property marketer should play?