A Lead is Not a Prospect

Years ago, I learned a lead is not a prospect, and not all prospects create revenue. Today, I know marketing is a tin man (person) in search of a heart.

In the last 20 years, technology has come to dominate marketing in many ways. I marvel at companies now who seek a Chief Marketing Officer, yet the position description asks for just 5 years of experience in digital, SEO and Google AdWords. That speaks to a massive disconnect in marketing overall. It’s like asking a Corporal to be a General.

Technology has become strategy and strategy has lost the compelling, human behavioral aspects. Prior to Covid, I was fairly active in speaking in business schools. I was alarmed to find that few taught segmentation and psychographics. Humanity was being wrung out of the curriculum.

It was only 15 years ago, but all things digital and social were initially meant to drive dialogue between brand and consumer, to create real conversation. All it has done is create giant social networks and brand broadcasters who are much more powerful (and dangerous) than the three dominate American television networks 50 years ago. Digital advances have perpetuated broadcast over dialogue.

Marketing exists to connect brand and consumer. That is not hard to accept. Yet, what supersedes this relationship is that a brands’ purpose is to communicate information that provides consumers with what they need to base better decisions. Otherwise, what they provide is snake oil.

Communications today is volume over substance. In fact, that tiny equation is the same in all aspects of our lives. Volume over substance.

Now, marketers do not talk about sentiment or predisposition. We measure results in technical terms. MQL vs. SQL…which is still subjective. Ironically, this reinforces the historic marketing and sales divide. By the way, here is a digression, why are there Chief Revenue Officers and Chief Growth Officers? This is title mania. What is wrong with a VP Marketing and VP Sales? Why are Chief Revenue Officers recruiting for EVPs of Marketing and Global Communications Officers to work under them? It is time to trim the marketing fat and have someone in the lead gig that can take the heat and produce real results.

Not all leads are prospects, and not all prospects produce revenue. That is a critical aspect of marketing. Unfortunately, in the pursuit of shiny new toys and tech, those distinctions are lost on the current generation of marketers. More is more. Tech over emotion. Tools over compelling, relevant, valuable communications.

Marketing is now a tin person in search of a heart.