In this chapter we will cover the thorny subject of paying and getting paid. As we outlined in the chapters covering business and economic reasons for the perfect storm, there are serious disconnects surrounding our current compensation practices and the new reality that marketers find themselves in.
At heart, we are firm believers of Jim Rohn's observation that “You don't get paid for the hour. You get paid for the value you bring to the hour.” With this in mind, we concluded earlier that marketing executive and agency pay is tied to out-of-date performance indicators such as TV commercial pretest scores and the number of social media likes or fans.
The other side of the coin, and perhaps the more important one, is that we should perhaps first think about how we are going to pay consumers for their currently active role in the marketing plan.
If you believe in the Flip the Funnel model, then you agree that the journey continues, or really starts, with the consumer who is on board with your brand. That is where the puck is and where your Z.E.R.O. budget should be.
Flip the Funnel recommends shifting some (if not most) of the massive budget spent on acquisition toward retention and new acquisition through existing customers. As we have stated, in most marketing plans today, especially those from fast-moving consumer goods brands, acquisition easily eats up more than 80 percent of the consumer connection budget.
Given that consumers now have the means ...