So, how do you like the stock market?
Most of us know as individuals that there’s a big difference between investing in the market on a day-to-day basis and investing for the long haul. The past few days have been an incredible rollercoaster of emotions. Do I cash out and put the 401(k) in my money market or ride it out? I got a little lucky last time around. In 2009 I put mine in the money market and had a smallish dip. Now? God, who knows.
But wait! There’s more! I almost forgot this blog is about digital marketing. A few weeks ago when I started this column I put together a personal editorial calendar and on it was a post about “Noise vs. Reality.” Wow. Had I known about the market I would have thought I was clairvoyant. But alas, I am not. So bear with the unforeseen analogy.
As marketing leaders, we need to quit responding to the market like Wall Street investors. Any given day is crazy. “I need a Facebook strategy!” “Holy Moses, the sky will fall if I don’t have my team rallied around Twitter!” Stop. Just stop. You’re in this for the long haul. It takes the patience of Job to be a steady hand on the wheel of innovation. Remember, just a few years ago, you had team members screaming without any clue about how you had to be on MySpace. Don’t laugh. It happened.
The fact remains that those of us in the digital environment need to think more like Warren Buffet than the digerati of Silicon Valley, or Madison Avenue, for that matter. Take a deep breath. Just where the hell are your people—your customers? What do they want? What do they need? Quit thinking that you have to execute. Deeeeeeeep breath. How can you be valuable? How can you supply them with the tools and content that transcends the gimmick of the day? Without leadership, your staff may have you running all over the place, thinking that this or that shiny new thingy thing is somehow important because, well, they think so. They’re day-traders. Not you. You’re a long-term investor.
Here’s the deal that drives me crazy. There’s nothing awesome about digital. (OK. I lie. But stay with me.) Digital is only as good as it delivers excellence to your people. A whole lot of you shouldn’t be thinking crap about iPad apps, even though your staff is going mental on them. Many more of them are ape nuts about getting you on Facebook. OK. Fine. I get it. But for what? What’s the plan? Facebook is chock-full of business execution with no strategy. Knocking on that door does nothing for you or your career. Don’t go there. The road will be littered with the carcasses of VPs and CMOs who did. Not you.
The market is being transformed on a daily basis by people who don’t have long views. The fundamentals of American business are in relatively good shape. Great cash. Great models. Don’t succumb to the short-term craziness panic of “having to be” anywhere. Just be fundamental in your questioning: Why? Why are you doing what you’re doing? Once you have solid answers to those questions, go. Go hard. Be confident. Just don’t go without them.
Comments