Do you know what 400-50 means
in the world of marketing?
That’s what I thought.
Don’t bother contacting me for the
answer…because I’m not telling.
No, it’s not something I just made up. REAL marketing experts (I’m talking about my mentors, not some jackass who wrote a basic marketing book or Johnny Corporate) know what this means, and understand its value with regard to increasing revenue. Sadly, what most business folks consider to be “marketing” is really nothing more than advertising without direction (i.e. brochures, YouTube® Videos, and DVDs. Tisk, tisk, tisk).
Marketing strategy is a huge unknown for most business owners (from restaurant owners to chiropractors). Because marketing strategy IS an unknown, it undergoes the process of Reduction. It’s kind of like watching a 5’8″ gorgeous size 2 supermodel (i.e. Alexandra Ambrosio) walk by and saying to yourself, “She’s probably a ditz. I’d rather be less attractive and smarter (or a better mom) than have to primp myself to look that good.” In reality, you’re saying that because, (A) you’ll never look that good no matter how much makeup you put on, AND (B) in all likelihood, that gorgeous woman could beat your ass in trivial pursuit – even if she was stoned drunk.
When business owners don’t know what to do, they hire “marketing experts.” Some marketing experts are excellent, but most are pretty foolish. A degree and marketing and a nice position working with a Fortune 500 company MAY make you a great corporate marketer, but the fact is that you are no Steve Jobs.
In many cases, “experts” are so driven by what’s trendy that they often forget about the primary responsibility of a marketer: To bridge the relationship between the company (and its products and/or services) and the consumer, patient, or client.
The business owner who has done most everything incorrectly, is typically blown away when a low-end marketing company comes along and says, “What you need is a fresh new look…and some new brochures…and some new DVDs – so that everything has the same fresh look!” Granted, a fresh new look is LIKELY to spark renewed interest and say to the target audience, “We are serious about success, and we are going to show you just how serious we are with our fresh new look,” but in reality, it’s like a 300 lb person losing 10 lbs – it doesn’t even make a dent.
Businesses that employ this kind of strategy typically experience a surge that can actually last a few years. However, because an entity that wasn’t very successful (profitable) is now experiencing the revenues that they’ve missed over the last 10-20 years, the overwhelming reaction from going from a 1 to a 3 on a scale of 1-10 (10 = the best) is intoxicatingly positive.
In my world, it doesn’t matter whether you’re at a 1 or an 8 – the push should always be to rapidly ascend to the 10 – and then consistently outdo yourself in an effort to STAY at a 10. But that’s not how most people think. When someone goes from a 1 or 2 to a 4, they expect pats on the back, parades, and big parties. Why? Because those without knowledge always have a very low bar. It’s not until they get tired of existing at a 4 that they decide to bring in the heavy artillery (i.e. Dr. Marc).
To ease the pain of actually having to market a business, many business owners (again – from restaurant owners to chiropractors), have now shifted most of their efforts to social media. While social media is a wonderful tool, it should not be seen as being the ONLY tool in the toolbox. Having 5,000 people “LIKE” you does not mean that 5,000 people are BUYING you. It’s always important to remember that a popularity contest is not a profitability contest. Someone may not be very “popular” in terms of “LIKES,” but that doesn’t mean that folks aren’t buying.
The most successful people in business are the folks who get an initial taste of success and the quickly realize that there is SO MUCH MORE out there.
The most successful people in business are the folks who get up in the morning (not necessarily early in the morning mind you), and say to themselves, “I’ve got a brand new full day…HOW can I make the best of it?” They don’t turn on the television, flip to the news, and get stressed about events that are beyond their control, or more bad news about the housing market.
The most successful people in business look out their windows and say, “I have this great _____, and I KNOW that a large percentage of the population NEEDS – NEEDS – NEEDS what I have. I also know that, when push comes to shove, people have the money to afford what I have just as long as I MAKE MY CASE.”
The most successful people in business look at the world from only ONE perspective: OVER-THE-TOP RESULTS and NET PROFIT. A business that looks at the world and celebrates gross revenue, is a business that is destined for FAILURE. There have been many businesses, both large and small, that have reported decent revenue. But after subtracting what it cost to operate the business (including payroll), what they had left was nothing worthy of a celebration. And then they fold.
FINALLY…
I have always known (and enjoy the fact) that opening the curtain and letting a little reality brighten the room, is not going to make me more friends. I understand and I am not looking for acceptance. So when I say things like, “You’re screwing your business!” – I see why most of you get upset.
The REALITY is that what you don’t know (and what you’re marketing expert doesn’t know) is costing you money. No, it’s not taking away from what you have – like a bartender who is pocketing a percentage of the bar’s take. Rather, it’s the fact that EFFORT IN should equal MAXIMUM POTENTIAL PROFITS. But in most cases, the truth is that you are only harvesting a small percentage of your potential, and that makes you…ridiculous.
Have A GREAT Day!
…Dr. Marc