Without a scientific perspective, art and intuition will take over.
This is not a bad thing if you’re staring at a blank canvas. But it can mean death to your business if you’re paying for advertisements or have any kind of marketing expenses.
What is science in marketing?
Well, a big part of science is evidence: real, hard data from which you can learn something new.
And the job of marketing is to turn one dollar in marketing investment into more than one dollar of revenue.
So, science in marketing would be the application of systems that leverage that data to make money.
The problem is that most marketers don’t know how to do that.
Most marketers are either driven by intuition, or worse, guessing.
Fortunately, it’s a problem you can easily remedy by finding the data. By Looking at the evidence and drawing insights.
This can seem intimidating to some people, especially novice marketers or entrepreneurs. I promise you it’s simpler than you may think.
When I was in college, I studied abroad at the London School of Economics for eight weeks. While there, I took a four-week intensive on the mechanics of economics. The pre-requisites for that class included Calculus II – which I’d taken. What they didn’t tell me was that the British curriculum for Calc II far exceeded that of the United States.
So I spent my evenings learning multivariate calculus, barely scraping a B+ in the class, and that was mostly due to the curve.
My point in telling you this is that before the class started, I was scared. I had no idea how I was going to learn all of that stuff. But by the time I was sitting in the exam room, I understood the mechanics. I knew what to do, and it just took me sitting down to learn it.
Marketing is not multivariate calculus. If you can calculate a tip for a meal, you can reverse-engineer an ad campaign’s breakeven point. The math is not complicated.
But I get that it can seem like it’s some black box of complex mathematical formulas.
I promise you: it’s not.
Look at your data. Draw some conclusions. If you’re interested enough in marketing or in your own business enough to be successful, you’ll learn something from the evidence.