ACCOUNTABILITY IS CENTRAL TO COST EFFECTIVE MARKETING – 3 OBSERVATIONS Three words I dislike hearing more than most in marketing are – ‘difficult to say’, in response to the question – ‘what was the impact of your last campaign?’. That said, these are three words that are heard more than most in marketing in response to ...
CUT COSTS BY DIFFERENTIATING
EXPLOIT THE INVERSE RELATIONSHIP BETWEEN DIFFERENTIATION AND COST – 3 OBSERVATIONS In a previous article, I articulated a definition of strategy offered by Michael Porter, possibly the world’s leading authority on strategic planning. Porter defined strategy thus: ‘Performing different activities from rivals, or performing similar activities in different ways’. I like this definition because it highlights the importance ...
CUT MARKETING COSTS BY THINKING
THINKING AND ACTING STRATEGICALLY WILL INCREASE ROI – 3 OBSERVATIONS Over the last 30 years, I have advised organisations of all shapes and sizes. During that time have seen many millions of dollars wasted on marketing. Few things have contributed more to this waste, and the resulting diminished return on investment, than a lack of strategic ...
CUT COSTS BY IGNORING PEOPLE
NO, YOUR MARKET SHOULD NOT BE EVERYONE – 3 OBSERVATIONS It is only reasonable that there should be pressure on marketing budgets. So much of the investment in marketing is wasted. The argument against cost cutting is most often that it will lead to poorer results. So, how do we cut the cost of marketing without ...
CUT COSTS BY NOT PAYING LIPSERVICE
REPEAT BUSINESS AND REFERRAL ARE ALL ABOUT THE PRODUCT – 3 OBSERVATIONS It is only reasonable that there should be pressure on marketing budgets. So much of the investment in marketing is wasted. The argument against cost cutting is most often that it will lead to poorer results. So, how do we cut the cost of ...