Reality Marketing, Revision 13

Reality Marketing 13

Readers of my Blog, can probably tell that I am not one of the millions of “get rich quick” gurus that cover the spectrum of marketing media from Twitter, Spam emails, TV commercials, print, newspaper, or trendy bookstores. If you could “get rich quick”, everyone would be rich! Except for inheritance, it probably requires intelligence and hard work.

Here are some of my thoughts on marketing during the deep recession we are in and will be in for at least the next 10 years. Yes, you read that correctly, 10 years. Talking heads, economists, various Lords of Industry that deal with reality, concur that even after “recovery” it will take at least 5 years for the unemployment rate to get down to 5%. The unemployment rate has not even begun to peak. (My own peak…15%)

1. Stash the Cash: Many of the problems existing in the financial world today are a result of rapid growth, fueled by massive debt. Use cash wisely, don’t incur unnecessary debt; you cannot pay back easily. Why would you want others to own your business?

2. Don’t Stop Advertising: Advertising exists for multiple reasons beyond that of making the next sale. It keeps your brand out there. It is a communication tool that shows the new, improved, creative, unique, or value of your brand or product. Pick the media that works for you, and stick with it. Quality, rather than quantity.

3. Cull the Herd: A reality check is needed, face it, does that $300 month yellow page ad really work more than a simple phone listing? Did you make money on all those direct mail campaigns? Product determines only a portion of the advertising and marketing decision. A limited, but fixed budget should be put into the media that actually works for the long haul. A simple statement, but one often ignored.

4. Learn New Stuff: Not everyone in business has an MBA. Don’t be afraid to learn something new. Take some classes at a local college or on-line. Read several of the hundreds of related periodicals or journals. Join a group like the American Marketing Association or local equivalent. Scan the Internet for related Blogs, etc. Read a business book from your local bookstore, college bookstore, or library on the newest trends. Be informed.

5. Forget the Jones’s: Need the newest laptop, I-phone, Tweeter application, media gimmick? Think your ready to jump on the bandwagon of newest, bigger, better, faster, most popular? Trying to keep up with those “Jones’s”…again. Forget that. You assume they know better than you, about you and your business. Again, think long haul, not instant gratification, yet another future Blog. Make do with what you have, until you find that “cash cow” we all look for. Silas Marner can be a roll model.

While many will think these five items are a tongue-in-cheek look at marketing, I hope many can pull realistic advice and information from a very serious Blog. No, really, I mean every word!