THERE NOTHING MORE EXPENSIVE THAN A MISUNDERSTOOD CUSTOMER – 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 […]

THERE NOTHING MORE EXPENSIVE THAN A MISUNDERSTOOD CUSTOMER – 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 damaging returns? I was at a meeting the other day where a group of business people were discussing how to arrest the decline of a product, both in terms of sales and engagement by sponsors. After 20 minutes of throwing ideas on the table (I suspect both good and bad), not one of the 8 people talking had mentioned the needs or wants of the consumer and potential sponsors. This is an experience I have had hundreds, if not thousands, of times. It is an experience that always leads me to ask; Who…