[Li Jiaoshou] Why Does Marketing Feel Harder Now?
Re-think:
“Marketing Work”
This time, I want to rethink the evolution of marketing work.
I. Why Has Marketing Become More Challenging?
Li Jiaoshou posed this question on his public account: “What changes in marketing over recent years have made you feel particularly frustrated?”
Most responses included:
– Fragmented user attention, making it harder to capture
– Declining effectiveness of media channels
– Rising costs for traffic acquisition
– Poor ROI even with increased ad spending
– Reduced impact of celebrity endorsements
These answers are unsurprising. Anyone in marketing would resonate.
Take advertising as an example. Here’s an analogy:
– Past advertising was like “playing a lullaby in a closed room”—mass campaigns forced concepts onto users.
– Today’s advertising resembles “playing a lullaby on a motorcycle speeding at 100 km/h”—users can still hear it, but it’s far harder to hypnotize them.
Thus, the cost of influencing users has surged. Similar challenges apply to PR, distribution, promotions—every marketing effort now demands more for less.
Many attribute this to “scattered attention” or “fiercer competition.” But does this hold true?
Contradiction: Total marketing spending as a percentage of GDP hasn’t increased.
Why then does marketing feel harder?
Two Types of Work: “Value Extraction” vs. “Value Creation”
Strategic theory divides work into:
1. “Value Extraction”: Competing for existing resources (e.g., securing better ad slots, higher budgets, celebrity endorsements).
– Relies on management skills: budgeting, negotiation, logistics.
2. “Value Creation”: Innovating resource use (e.g., crafting resonant campaigns, uncovering unmet needs, redefining product positioning).
– Relies on marketing expertise: consumer psychology, behavioral insights, creative strategy.
Historically, most marketing focused on “Value Extraction.”
Examples:
– “We signed a bigger celebrity.”
– “We bought prime-time TV ads.”
– “We outspent competitors on traffic.”
But as channels saturate, mere resource grabs grow inefficient. Buying traffic or slapping logos everywhere no longer cuts it.
Today’s real challenge?
– Value Creation now drives differentiation.
– Example: Flower brand “花点时间” redefined flowers as “daily companions” (subscription model), not just gifts.
Key Insight:
– Value Extraction is like acing an English exam—effort guarantees results.
– Value Creation is solving a riddle—no clear path, demanding ingenuity.
II. Why “Value Extraction” Falters
Two factors:
1. Short-term: Diminishing “low-hanging fruit” (e.g., early social media红利).
2. Long-term: A “flattening” world—resources flow faster.
“Flattening” means:
– Capital, talent, and consumer attention are fluid.
– Past advantages (brand equity, budgets) matter less.
– Example: Yelp reviews eroded chain restaurants’ edge—consumers now trust peer ratings over brand names.
Result: Hoarding resources (like ad slots) loses potency. Success now hinges on reshaping how resources connect.
III. What Is “Value Creation”?
Value Creation = Reimagining resource relationships.
– Example: Honda’s Super Cub motorcycle initially struggled in traditional channels but thrived when repositioned for practicality.
Marketing Examples:
– Using a celebrity’s voice for GPS navigation (高德地图 + 林志玲).
– Targeting niche audiences with tailored content (instead of mass blasts).
Core Difference:
– Extraction focuses on resources (budgets, stars).
– Creation focuses on how resources interact (strategic innovation).
Conclusion
Marketing feels harder not because costs rose, but because “effort-driven wins” (Value Extraction) faded. Today’s game demands “insight-driven innovation” (Value Creation)—solving puzzles with ingenuity, not just spending more.
Next Week: Tactics for Value Creation and emerging opportunities.
Adapted with fidelity to the original text’s intent, optimized for clarity and cultural resonance.
Images and hyperlinks omitted as per instructions.
