On Marketing in a Down Economy (Dallas, TX)

July 24, 2008 · Filed Under Marketing Plans, Marketing Tools, Sales Training, Tracking Results · Comment 

Chief Idea Officer of MarketingMeasureConventional wisdom dictates that marketing and a good sales effort are the last things to cut during a downturn in the economy. Conventional application suggests a lot of businesses didn’t get that memo.

Economic downturns are accompanied and fueled by fear. Fear puts on the brakes. Marketing is viewed as expendable and is often the first victim of the budget axe, probably due in large part to its own history. Until less than 5 years ago accountability in the marketing effort was not the accepted norm and if you can’t quantify anything you’re doing and defend your position, you’re the first to go.

But that’s changed dramatically since then. Marketers are now accountable for every dollar they spend and although that has increased the per capita spend on blood presure medicine in the marketing community it has also brought a foundation on which to stand and plead a case for the sacred marketing dollars. Doesn’t mean you’ll win the argument, though.

In a downturn the mindset of American business reverts to one of survival mode; let’s make sure we keep what we have. But it’s impossible to sustain an account base with zero new growth if only because of natural attrition. Even in good times 10% of your customer base will flee for any number of reasons so there’s your best argument for keeping the marketing effort going and the feet on the street, especially now! You need a sufficient number of new accounts just to maintain status quo.

Need another reason? How ’bout this….yesterday there were 10 hunters in the woods and today there are only two. Do you stand a better chance competing against 9 others or with 1? I want to be in that game! Let your competition remove their players from the field; it only improves your chances.

What the other 8 have done is hasten the demise of their business. No marketing message so their business is hidden. No sales force on the streets actively bringing in new accounts to replace those attrition claims, so their revenue declines. You know what the next step is, right? Yep, cut back some more somewhere; probably in marketing or let the last sales rep go. Look out below!

Fire the maid or let the janitor go. Trim the fat salaries and look for budgetary extravagances to cut but don’t shut off the pipeline that built your business in the first place. It’s the very same tool that will get you through the tougher times.

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Designer Networking Groups (Dallas, TX)

April 20, 2008 · Filed Under Marketing Tools, Random Thoughts, Sales Training · Comment 

Chief Idea Officer of MarketingMeasureBuilding a networking group can be a very satisfying and profitable undertaking. That pre-supposes a couple of crucial points.

That you practice a form of networking far beyond mere, “card-swapping”.

That you have the right people in your network.

    Understand What Networking Really Is

    Networking done properly is not about showing up at the same dull meeting each week. The standard mindset requires you hand out your business cards and deliver your sound bite in the hopes that someone will take pity on you and refer someone your direction. By it’s true name this is called,

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    Higher Postal Prices Force Market Efficiencies (Dallas, TX)

    April 6, 2008 · Filed Under Marketing Tools · Comment 

    Chief Idea Officer of MarketingMeasureFour very good reasons why higher postal rates in 2008 might be a good thing.

    Reason #1: Higher postage pricing forces businesses of all sizes to maintain their marketing databases. This will eliminate mailings to bad addresses or vacant properties.

    Reason #2: Higher postage prices force small business owners to examine their databases with a critical eye towards targeting. This means that mailers of a certain topic will only be mailed to interested participants, reducing wasted materials and resources on several sides of the equation. That would include environmental, marketing expenses for the small business owner, frustration and aggravation from receiving unwanted mail on the part of recipients.

    Reason #3: Higher postage prices force more highly targeted mailings, which means response rates will improve dramatically despite fewer pieces being mailed.

    Reason #4: Higher postal pricing means fewer pieces mailed, which equates to postage money saved, which will more than offset the costs of producing highly targeted pieces and the mailing presort duties.

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