Synopsis
Book by Stevens Mark
Extrait
1.Why your marketing sucks
Stop throwing thousand-dollar bills out the window and camouflaging spending as marketing
PROBLEM
Your marketing programs are not as successful as you want. Or they are not successful at all (in ways you can measure).
SOLUTION
Scrutinize everything you are (and are not) doing. Put it all under a microscope. Be a skeptical SOB about every dollar you are spending. Keep those programs generating the highest returns. Eliminate everything else, no matter what.
BENEFIT
Your company will grow--profitably.
RULE 2
Marketing is not about spending money on such things as advertising, direct mail, and P.R. Those are just tools. Marketing is about growing your business--its revenues, profit, and valuation.
If you saw someone open an office window and start tossing out handfuls of thousand-dollar bills, you would have every reason to think that he's nuts. Yet that's what happens in business day in and day out, as company after company wastes millions of dollars on spending camouflaged as marketing.
These three quick examples are representative. Consider:
*Auto and truck companies spend a fortune sending camera crews to exotic locations to film expensive cars going down twisting, scenic roads. Great imagery. Beautiful direction. Stunning visuals. Now, find me one single human being who bought a car or truck as a result of one of those ads. In fact, find me someone who can tell all those ads apart. Or better yet, someone who can link one of the cars being advertised to a particular scenic road.
*The ad agency your company uses is hot. It just won a Clio, the industry's version of the Oscar, for its last campaign, and the very hip, very cool creative director is showing you the storyboards for this season's big ad blitz for your product. You sign off on the idea, which, when it hits, generates all kinds of buzz in the ad community--but not in the marketplace, where it counts. Your sales don't improve. When management starts asking, "Why are we spending all this money and getting so little to show for it?" you start talking about the value of building "mind share" as a key part of your advertising and marketing strategy. What the hell is "mind share"? The only thing that puts dollars in the bank is market share, and Clios don't do that (except for the ad agency that wins them).
*An established, family-owned upscale retailer decides to open a new sales channel by leveraging the power of the Internet. It spends $100,000 to acquire the perfect dot-com name, and it is money well spent. It becomes the first designation that customers think of when they are looking to shop the product category online. But the site is shameful, a disaster. While management was willing to spend $100,000 for the dot-com name, the company spent only $8,000 on the website design--and it shows. The products do not look appealing. It is hard to navigate the site, and worse, you can't find the "hot merchandise" that the company was promoting in its stores and ads. So what appeared to be a powerful sales tool--an industry-leading Web destination--turns out to be the devil in disguise. Instead of spurring sales, it frustrates potential customers.
These three examples are far too typical. Smart people do stupid things all the time when it comes to marketing. Since the art and science of marketing is not their core expertise, not surprisingly, their marketing is far less effective than they dream it will be.
It's a trap that is easy to fall into. Think of it this way. There is a Christmas-morning sense of excitement when you get your company's new brochure with its pretty pictures or see yourself hawking homemade hickory furniture in a cable-TV ad. In the back of your mind, a little voice says, "We're big-time. We're on television. We have a beautiful brochure. We're marketers. Wow!"
But hold it a minute. You know how they say, "Anyone can be a parent. Being a good parent is where the tricky part comes in." Well, a similar dynamic occurs with marketing. All you need to market your business is money. You don't need an iota of creativity, smarts, experience, or savvy. No, all you need is a checkbook. And with that checkbook, you can buy ads up the kazoo, public relations that can make Donald Trump look like a recluse, brochures to fill warehouses, websites that would make Steven Spielberg envious.
The problem is that if you are like most companies, all of that spending will result in a negative return on investment. Your marketing will cost you more profits than it brings in.
Why?
Because, in all likelihood, your marketing sucks.
Take the Your Marketing Sucks diagnostic
Before you get all lathered up and start ranting, "How the hell does he know?" ask yourself a few telltale questions.
Do sales rise every time you advertise?
If so, why don't you advertise every day? In more media?
Have you ever performed a cost-benefit analysis to see if your marketing generates more revenue than it costs to produce?
Do people read your brochure? When was the last time someone commented on it favorably? And more important, when was the last time someone was moved to buy something because of it? Can you track one single sale back to your brochure? Why not?
Do people visit your website? How many? Do these visits lead to sales? Do you have a Web strategy (or just an expensive site with all those pretty animations that make you feel soooooo proud every time you visit your own URL)?
Why most marketing sucks
There are seven key reasons marketing sucks at far too many companies.
1. They don't really know what marketing is, but in Kafkaesque fashion, they are going to spend money on it. We had a client, a paint company, that had decided it needed a brochure. We told the managers over and over again that wasn't where they should put their money, but they insisted that brochures were a key part of selling paint. Finally, tired of beating our heads against a wall, we designed a beautiful brochure for them that communicated everything the firm did. They printed 10,000 of them. A year later, when I was visiting the company, I wandered into a storage room and found that 9,850 of the brochures were left. I asked why. "These things cost a dollar-fifty apiece," I was told. "You think we're going to send them out willy-nilly?"
2. They go by generalities.
They've heard, for example, that marketing by e-mail doesn't work, so they don't engage in it. Or they accept popular wisdom, like a 1 percent hit rate for direct mail is terrific, writing off 99 percent of their direct-marketing efforts, blindly accepting that a 99 percent failure rate is a good thing. The truth is that generalities are worthless, because every situation is different. That's why you have to test what works for you. For example, let's say William Rehnquist, chief justice of the United States, unilaterally decides tomorrow that all speed limits are unconstitutional. He sends out an official e-mail, or a notarized direct-mail letter, that says, "Contact me, and I will send you a card that will automatically get you out of every speeding ticket." Do you think the e-mails would work? Do you think he would get better than a 1 percent hit rate from direct mail? He would make the automatons who think a 1 percent hit rate is great look like the fools they are.
3. They do not employ a swarming offense.
Many of these companies do only one form of marketing--print advertising, for example--and write off people who don't read or who do everything online. You need to hit everyone wherever they turn. Coca-Cola does. It's a great marketer. It's omnipresent. You see its trucks, point-of-sale displays, advertisements--you name it. Everywhere you look, you see Coke's marketing. You can do it, too, on a smaller scale. Lillian August is a five-store upscale furniture chain in Connecticut. Its marketing budget is infinitesimal compared to Coke's. Yet with an annual budget of less than $1 million, the company is everywhere its customers might be: in the Connecticut section of the Sunday New York Times. On billboards near its stores. Lillian August gets public-relations placements in the "shelter magazines" like House Beautiful and Architectural Digest, and it is recognized for its charity work with the American Heart Association.
4. They launch expensive programs and campaigns that are devoid of innovative thinking.
Doing what your competitors do, even if you do it better, is not the way to become a market leader. Remember those gorgeous car ads we talked about? It doesn't matter if your car looks prettier than the competition's as it comes down that long, winding road. Consumers can't tell the ads apart. If you watched TV last night, you saw at least five car ads. Can you name all five? Can you name one? Chances are that most of your marketing falls into the same black hole.
5. They ignore readily available research that would allow them to pinpoint ideal prospects.
Databases to reach every conceivable audience are readily available. For example, if you sell annuities, studies show that the most likely buyers of annuities are people who already have at least one, or who have certain demographic (they are sixty-five or older) or psychographic characteristics (they are independent and self-made). Research companies have lists of everyone who owns an annuity and demographic and psychographic lists as well. It's the same for every product or service, and yet the vast majority of marketers don't "profile" the universe of prospects to identify those most likely to buy, even those that glow with neon signs in the various databases. For example, to identify the names of likely buyers of upscale furniture in a given geographical region, we would sort through all of the residents (the universe) by searching for those who live in high-income ZIP codes, are of the thirty-five-to-...
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