Desperation Marketing

Oct 25
2009
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Is your company long-term greedy, or short-sighted for sales?
A clue may lie in your  definition of  marketing.

Great marketing, according to best-selling author Joe Vitale, is inspired. Perhaps that’s why most marketing isn’t all that great.  For most companies, marketing tends to be out of desperation rather than inspiration.

It’s part of the problem American businesses face, in general, with short-term versus long-term thinking.  In the short-term, the business needs a sale – badly.  Hence, a CEO calls in a marketing team to help facilitate a sale  NOW!  It’s what causes confusion between marketing and sales promotion. I call it Desperation Marketing.

Better marketing is long-term based — building reputation, relationships and community over time.  Inspired marketing draws people to a product, service or business because they want to be affiliated with what that company has to offer.

I recently met with a business planning professor from a local college to discuss business planning. He used to work for Goldman Sachs on Wall Street. He told the story of one of his mentors — a great Goldman Sachs leader of his time– who decided to retire a few years ago when the company became, in his opinion, too short-sighted. By short- sighted, the retiring executive meant ‘in search of this year’s sales.”  Goldman Sachs had been known, he said, for being “long-term greedy,” a positive attribute that differentiated the company for greatness and fostered  building long-term wealth over short-term gain.

I have no way to test if the story is true, but it rings true because this week Goldman Sachs is all over the news in terms of its outrageous bonuses for 2009. The company claims that its executives deserve the bonuses due to outstanding performances during tough economic times.  Even if  true, it’s  insensitive to the marketplace – defined as the rest of us.  It also positions Goldman Sachs as self-centered and  greedy – short-term greedy.

I’m not here to bash Goldman Sachs.  It’s just a story that was told to me this week. But, I am here to say:

“Think about your marketing and positioning.”

Remind yourself that, unless you’re a venture capitalist or a real estate house flipper, you’re likely in business for the long haul.  Use your marketing dollars and efforts accordingly.

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Written by Rhona in: Economics, General Business, Guru Wisdom, Leadership, Marketing, Public Relations | Tags: , , , , ,

Barista Brochures: Five lessons from Starbucks

Oct 18
2009
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Starbucks Five Ways of Being are a roadmap for
creating a great brochure in addition to a great coffee experience.

This week on The Blogger’s Bulletin, I wrote a piece on why the Starbucks Five Ways of Being are appropriate advice for bloggers. Here, I’m continuing the analogy with how we can take tips from our local baristas and learn how to improve our brochures and marketing material.  There’s more than coffee that you can take away from a Starbucks encounter.

In The Starbucks Experience (2007), author Joseph Michelli reviews what has made Starbucks not just a new productstarbuckslogo or service, but part of our current cultural experience. Starbucks has had some trips since then, but likely its strong corporate credos have allowed it to be flexible in better responding to market changes. At Starbucks, they are called the “Five Ways of Being.”

  • Be welcoming
  • Be genuine
  • Be considerate
  • Be knowledgeable
  • Be involved

It’s a great map for great marketing, particularly a brochure.  Here’s how:

  • Welcoming – I recently saw a brochure where the first page was solid type.  It wasn’t a letter or designed as part of the brochure.  It was intimidating to read, heavy on the eyes and not welcoming to the brochure. It made you want to close the piece rather than dig deeper — kind of like a huge Victorian novel with tiny type.  You likely won’t approach it unless it’s assigned reading. Make sure your opening brochure material is just that – open with welcoming content enticing your reader to enter and linger awhile.
  • Genuine – Don’t use flamboyant language, make promises you can’t keep, or statements that don’t ring true. Advertising and marketing materials already have a bad rap for puffery.  Not everyone is the best, brightest, cheapest, highest quality.  The trick to real marketing is being real and finding your true unique selling proposition. If you don’t know it, don’t spend money on puff pieces.  The reader can see right through it.
  • Considerate – Be conscious of your customers concerns and address those rather than your ego.  No one likes meeting people at parties who just talk about themselves and yet we think marketing is a business resume letting the reader in on all the wonderful things they need to know about us.  It’s not.  Marketing is your introduction. Tell the customer a little about yourself and a lot about themselves.  If they self-identify, they’ll know you’re the right match for them.
  • Knowledgeable – Give some information away for free. You’ve already paid to send people the brochure, so give them some value. Read Chris Anderson’s Free, or link to my post about him and think about what you can already provide for free to give prospects a taste of what you have to offer.  Consider Anderson’s Jello example, where free recipes entices people to want to buy Jello as an ingredient.
  • Involved – Show how you are up-to-date and involved with your area of expertise.  Is it a passion?  Why would we know?  Bring us into your story and show us how you evolved and are involved.  People like to work with people they feel they want to know.  Get involved with your customers and give them a behind the scenes look into who and what you are.

There they are – the five ways of being and how you can use them in your next brochure. So before you start your next marketing endeavor, slow down, get a cup of coffee and ponder how you want your brochure to come into being.

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Written by Rhona in: Advertising, Communication, General Business, Guru Wisdom, Leadership, Marketing | Tags: , , , , , ,

Leadership Lessons

Oct 04
2009
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Great corporate leaders don’t have to be convinced about Marketing.
They inherently understand its importance to the organization.

Marketing is a window into a Leader’s True Potential.  There, I said it.

There are so many articles on leadership including entire graduate courses and LinkedIn groups devoted to it. Everyone studies it, but the question remains: Can leadership  be taught? Or, is it something inherent in a leader’s soul?  One thing is sure: when a leader emerges everyone can recognize him or her, largely because the leader knows how to market himself and her ideas.

The New York Times ran an article on October 3, 2009 on the differences between Bank of America’s leader Hugh L. McColl, Jr. and his now de-throned successor Kenneth D. Lewis. The headline says it all about Lewis –Incompetent? No, Just Not a  Leader.   Among his indictments – “Mr. Lewis was uncomfortable rousing the troops, or even giving an executive pep talk.”

It’s Internal Marketing, Stupid

Rousing the troops and executive pep talks are marketing — just internal marketing.  It’s a safe bet that CEOs who don’t understand the need for internal marketing also won’t understand the need for external marketing. They don’t like explaining themselves to anyone — consumers, employees, or prospects alike. I’ve worked for a few of them.

An inherent understanding of marketing means a CEO or corporate leader knows that ideas need to be spread, people need to be motivated, and people like to be included either in their company or brand-affinity growth.  CEOs who are uncomfortable with their own employees (and there are too many of them out there) don’t realize those same employees are their first line of defense in keeping the brand image honest with the public.

Equally important, a CEO who has to be convinced about the virtues of marketing should not be a CEO.  There are numerous reports, including some I’ve written, on how to best present a marketing case to a CEO.  I could write them because on numerous occasions I had to explain to a CEO why a program was:

  • Important
  • Needed
  • Effective
  • The right thing to do.

What a waste of energy!  It’s far more productive and fun to work for a CEO who inherently understands why marketing is needed and actively supports the function.  Then, the CMO’s time can be spent doing campaigns rather than lobbying for them.

Seeking Warmer Waters

Ok, I’m not saying report backs aren’t necessary. They are.  I am saying that CEOs who constantly needed convincing about the virtues of marketing are ultimately leading a company to demise not growth. See the warning signs and either:

  • As a board member — get a different CEO, or
  • As a consultant — get a different client with a different CEO, or
  • As an employee — get a different CEO by going to a different company in a warmer marketing climate.

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Written by Rhona in: Leadership, Marketing | Tags: , ,