Hunter Hastings and Mark Schaefer discuss how human-centered marketing can fix a business function that has lost its way.
Marketing has lost its way — in its current state, it’s no longer a useful business growth tool for entrepreneurs.
The solution, says Mark Schaefer, lies in the principles of Human-Centered Marketing. Austrians can easily recognize these principles as our own.
|Austrian Economics||Human-Centered Marketing|
|Principle||Customer sovereignty||The Customer does the marketing|
|Mechanism||Empathic diagnosis||Live in their homes / offices / factories|
|Insight||Support the customer’s highest values||Find core human truths – deep, deep needs|
The customer-sovereignty perspective yields actionable truths.
What do customers want from marketers? The answer for Mark Schaefer lies in Core Human Truths — what Austrians call Highest Values.
These are deep human needs that don’t change. Whatever the speed of change in market, these values are constant. Humanism lets marketers hold on to what is not changing, rather than being overwhelmed by change.
Marketing mantras like “loyalty” and “engagement” are false.
Mark’s recommendations are grounded in humanism.
Marketing is promise management.
BONUS: Small and medium businesses have the advantage in human-centered marketing.
"The Future of Marketing Is Austrian" (PDF): Mises.org/E4E_52_PDF
"Understanding The Mind of The Customer" (PDF): E4EPod.com/Mind
Mark Schaefer’s "Human-Centered Marketing Manifesto" (JPG): Mises.org/E4E_52_Rebellion
For comparison, "Menger’s Manifesto" from Principles Of Economics (PDF): Mises.org/E4E_52_Menger
Mark’s website is BusinessesGrow.com