March 2009


Here are three “Marketing Mistakes” that business owners routinely make.  (I saw an article in Direct Magazine which inspired me.)

1. Marketing plans and not aligned with business goals.   For instance, say you have a goals to grow top-line revenues by 50%. (Only 50%?  Well, it is a recession.)  In Formula 5 terms, that would mean a three-part combination of strategies to improve pricing and margins, monetization of each customer, and of course, lead generation.   Most business owners never think this way. They never try to figure out what it will take to reach that 50%, in action-oriented terms.

 


Talk about important decisions. 

“The barnacle” the author explained “is confronted with an existential decision about where it’s going to live. Once it decides.. . it spends the rest of its life with its head cemented to a rock.”  (This quote is from John Gardner, who was quoting an unknown author)