Christopher Lochhead debunks five marketing lies in this episode of Lochhead on Marketing. He talks about why so much of marketing thinking is actually b******t.
Five Marketing Lies and Why
Number one, great marketing is about marketing into an existing market to increase market share.
“Most legendary innovators, creative creators, entrepreneurs, social change, agents, and so forth, did not play by the rules. They establish their own rules. They designed a new way of thinking As a result, they created new market categories. They did not compete in somebody else's game by somebody else's rules.” - Christopher Lochhead
Number two, marketing is about creating demand.
“The legends did not do that. They created demand. There's a huge distinction between capturing and creating.” - Christopher Lochhead
Number three, success comes from building a brand.
“Category makes the brand not the other way around. Success comes from being the company or the individual that designs a new way of thinking about an opportunity, or a problem that creates a category and your brand is valuable based on the power of the category.” - Christopher Lochhead
Number four, winning is about beating the competition.
“If you're competing in an existing market, you're in competition. Winning is not about beating anybody. Winning is about introducing the world to a new way of thinking about a problem and therefore a solution. When the world gets your thinking, bam, you stand alone, you become known for a niche that you own and you stand above everybody else, as opposed to competing with everybody else.” - Christopher Lochhead
And number five, you're going to win if you have the best product to market.
“As a marketer and an entrepreneur, I would much prefer to have a legendary product and pair that with legendary category design and marketing. That's what we're trying to do. Thinking or betting that all you have to do is have a better product. Not so much.” - Christopher Lochhead
To hear more about specific examples on the five marketing lies and why they are BS, download, and listen to this episode.
Christopher Lochhead is a #1 Apple podcaster and #1 Amazon bestselling co-author of books: Niche Down and Play Bigger.
He has been an advisor to over 50 venture-backed startups; a former three-time Silicon Valley public company CMO and an entrepreneur.
Furthermore, he has been called “one of the best minds in marketing” by The Marketing Journal, a “Human Exclamation Point” by Fast Company, a “quasar” by NBA legend Bill Walton and “off-putting to some” by The Economist.
In addition, he served as a chief marketing officer of software juggernaut Mercury Interactive. Hewlett-Packard acquired the company in 2006, for $4.5 billion.
He also co-founded the marketing consulting firm LOCHHEAD; was the founding CMO of Internet consulting firm Scient, and served as head of marketing at the CRM software firm Vantive.
We hope you enjoyed this episode of Lochhead on Marketing! Christopher loves hearing from his listeners. Feel free to email him, connect on Facebook, Twitter, Instagram, and subscribe on iTunes! You may also subscribe to his newsletter, The Difference, for some amazing content.