GeiserMaclang says industry marketing is the response to disruption

Is technology the boon or bane of marketing?  Is it deliverer or destroyer?  Questions like these are beginning to hover in our marketing communications and public relations sectors especially as disruptions are becoming more frequent. My answer might seem to come out of left field:  "The outcome can depend on whether or not you do industry marketing."  First let's look at the “death of marketing by technology”---which does not refer to AI or automation.  I am referring to the way that nascent technologies redefine the marketplace, leading to the destruction of marketing models and ultimately the businesses that depend on them.

The 2 kinds of marketing 

 The tech industry has remembered something that many other industries have forgotten: which is how to act like an industry to shape demand.

I have run a marketing and PR agency for 20 years. Back then, when I was younger, I noticed that there were two types of marketing: company-directed and Industry-directed.  The company-directed marketing model is something that we are all familiar with.  The industry-directed marketing kind, however, seemed very mysterious and elusive. 

This was very disconcerting because while company marketing is very adept at navigating the consumer landscape, it is industry marketing that tends to change that landscape. 

Later on, I learned two very disturbing trends which explained why industry marketing was so silent. 

The first trend was that industry marketing does not seem interested in working with marketing professionals who were being excluded from the conversation.

The second trend saw that the skill of industry marketing has largely been lost by many industries because it was not being handled by marketing experts. In short, the corporate world has said that they did not want these experts involved in their bigger industry-related directions.  Marketing professionals were relegated to revenue generation, performance marketing, and the measurement of campaigns. It was the higher-level executives who were allowed to determine where the industry was going. At the same time, the corporate world also expected these sidelined marketing experts to easily adapt to the changes in case someone steered the industry away from its interests. 

 In summary, what replaced industry marketing were the individual efforts of some corporations to shape the landscape for their own gains or echo chambers created by experts trying to practice thought leadership.  Thought leadership is important. White papers, podcasts, blogs and newsletters are valuable tools, but quite honestly, they also serve the interests of whomever is collectively shaping your industry. 

Tech convergence 

Since we in marketing love case studies, I would like to discuss one of the most successful technology niches in my country: Financial Technology  (Fintech).

Four years ago, I joined a small industry organization called Fintech Philippines (FPH). I did so on behalf of a banking client with forward-thinking leadership. I found it odd that they did not use their own marketing people to do this. And when I joined, I found that it was composed of a crew of coders, intellectuals, and startups. There were no marketing people at all! 

Though my project for that bank officially ended at some point, I stayed on with FPH because I knew in my gut that the group and the industry had real potential. One year later, the 30+ technologists, lawyers, financial experts, and entrepreneurs voted me---the marketing professional---as managing director. Again, an odd choice considering I’m not a technologist and did not own a technology company.

In three years, FPH went from 30 to 170 members. But more importantly we focused on having conversations with other industries, drawing connections that led to Insuretech, proptech, reg/gov tech, e-commerce, e-sports, education, and cybersecurity. We championed an inclusive economy that could unite our own fractured one. All of a sudden, we were not so niche anymore. 

The industry actively engaged the government and persuaded them to adopt a test and learn Sandbox orientation towards new business ideas. It was a radical departure from the antagonistic old days when regulators banned what they did not understand. Together, we built an ecosystem that is so favorable to Fintech that it has gone from niche to dominant technological discourse in our country. 

How does discourse affect the health of an industry?

Leading the conversation 

Just recently the embassy of a certain superpower contacted us to discuss participation in our Digital Pilipinas Movement. We were already partnered with the Monetary Authority of Singapore (MAS) and starting to attract international attention.

This superpower was confident that we would immediately follow their lead and give their companies top billing.  I had to set them straight.  The numbers I presented spoke for themselves:  the superpower only had 10 digital banking licenses; the entire continent of Europe only has 50; Asia has 40---and 4 of which are Filipino. 

We were of course, curious if the superpower had anything new to contribute to the discussion. But at this point in time, Asia and the Philippines really do not need anything from them. We are happy to reserve them a few speaking slots---and free of charge, as we are always happy to lend a hand. Maybe the superpower’s folks can pick up some new ideas as well.

They were a little…surprised I don’t think many Filipino industries speak to them that way.  To be honest...speaking as a Filipino and an Asian, it felt pretty good. 

If, at the back of your mind, you are wondering what this has to do with marketing a  brand or being customer-centric, this is my message:

The tech industry is dominating the marketing discussion, not because they come up with better performance marketing, more creative ad campaigns, or better user experience than we marketing people do.

They are dominating because they act as an industry to change the consumer landscape.

The future of a brand 

How can you tell if your brand can survive or thrive in the next tech disruption?

There are three simple cues:

1. If marketing is almost exclusively the job of the CMO or marketing head, and not a shared responsibility with the CEO,CTO, CFO.  and COO.
2. If all ofmarketing’s focus is client acquisition, retention, customer experience, and brand shouting; and if  marketing is not forming cross-industry alliances, working with regulators, and  winning over gate keepers. 
3. Ifmarketing views others in their industry primarily as competitors and not as potential partners in advancement.

If I may offer a suggestion, join an industry group or two and listen to what is going on. It would be good if it’s the marketing industry, but it would even be better if it's an emerging industry. Then you can witness what disruption in the making looks like. 

We are talking about financial technology, but you will be surprised at how interesting and relevant it is to your world.

Amor Maclang , the author, is the Co-founder of GeiserMaclang Marketing Communications Inc. and the Executive Director of FinTech Philippines Association.