Don't Panic. Just Lead.
At MPDailyFix, Beth Harte related a story about how a friend of hers, who is a senior-level marketer, was offered employment with junior-level pay. She goes on to explain some of the reasons this is happening and why she believes it will become more commonplace if marketers don't show their value. She's right. But if I can add my own perspective here, the problem Beth identifies can be understood economically and solved in the same terms.
Unemployment means there are too many people for too few jobs. In other words, there is a surplus of labor.
Surpluses tend to drive down prices.
The price of labor is measured in wages. Thus, when there is a labor surplus in any industry (like marketing), it tends to depress the wages of the people in that industry.
This is especially true when the hiring manager believes it doesn't matter from which part of the labor pool he chooses. One person is just as good as another -- or in Beth's words -- a commodity.
Being good -- being great -- these things don't matter unless we distinguish ourselves from the rest of the pack. It is the perception of our expertise and effectiveness that will enable us to demand higher wages.
Actual expertise can help drive perceived expertise, but it does not guarantee it. Now, more than ever, a marketer must be both good and an excellent self-promoter.
Doing this effectively is about all the things Beth mentioned. Among them:
- Be a leader.
- Foster and nurture relationships.
- Continuously improve.
However, this effort shouldn't resemble a campaign -- which is temporary and smacks of insincerity. In order to assure others of our value, we must first strive to be valuable. We must both improve the product and promote the improvement.
Luckily, in our cases, the act of successfully promoting the improvement, in some ways, actually helps to improve the product -- especially when we're willing to make mistakes and learn from them.
Instead of curse the conditions that led to this difficulty, we must embrace it as an opportunity to revolutionize the way we practice marketing. And we can apply to our clients the wisdom we gained from the experience of practicing it on ourselves.
I'm afraid that this won't guarantee a happy ending for everyone -- even a lot of the good ones. However, being a jack of all trades (and more importantly, being the sort of person who can adapt to changing circumstances) all but promises that we'll find someplace to be of use. - Cam Beck