1. 
   
   Marcom’s law of too:
   “Don’t expect too much
   from too little”
   
   I hate to disappoint clients. That’s why for years I’ve preached the gospel: “Don’t expect too damn much from too darn little.” Few listen.
   
   Many expect a few ads to inject lifeblood into a cadaver. Others approach advertising with the attitude that it probably won’t help much, “But let’s give it a shot and see what happens.”
   
   The skeptic is easier to work with than the dreamer. The skeptic doesn’t expect much. You can convince him with results. It’s the dreamer with a tiny budget that presents the big challenge. He speaks Trumpese about “Driving business” to his store, web site or dealers. He has no idea how much gas it will take.
   
   
   So enough generalities already. How much should either spend to market his product? Enough to do the job without leaving too much on the table. Ah! There’s the rub. How do you know in advance how much is enough? How much is too much?
   
   Sorry, but you don’t know in advance. Neither do I. But I do know marketing metrics are like pursuit of the Holy Grail: wear your armor and keep the faith. You’ll pick up a few dents , and may even get your ego pierced. It’s all part of the learning process.
   
   Budgeting is especially tough for newcomers. They have no frame of reference. But even for a mature business, it’s a challenge that requires method, insight, and experience.
   
   This little snort is’nt meant as a treatise on budgeting. It’s simply a plea for temperance. Temper your optimism. Temper your pessimism. Good advertising for good products or services does work, but it’s not a miracle worker.
   
   Here are a few budgeting methods to consider:
   
   1. A percentage (either the same, plus, or minus) of last year’s sales: Bean counters love this. They’re historians, not marketers. They hate risk and love to save money even though it may cost sales.
   2. Industry averages: These might make you feel comfortable, but lull you into not investing enough to do the job.
   3. Match the competition: Danger. They, despite success, may not be as savvy as you think. Perhaps they could invest some of that budget more wisely, or take it home to the wife and kids.
   4. A percent of cost per unit: This is one that both accountants and resellers like. The accountants like it because you’re not going to spend more than you budgeted. The dealers, distributors, sales reps, and other channels like it because your commitment to promotion makes their jobs easier.
   5. Objectives: Here’s where speculation hits the road. Decide what you’ll need to reach your objectives, the necessary tactics, and what it will cost. This requires insight, research, and a reality check of the resources you’ll need to make it happen.
   6. Bet the farm: Many successful entrepreneurs just go for broke (and often end up that way). They have a dream and faith that they’ve found the way. They plow all the resources they can muster into the budget and then fly or flop.
   7. Olio: This is a conservative, hodgepodge, pain in the butt approach. Doodle each of the above methods. Noodle the figures. Find the numbers that jive with your inner vibes. Then make them work.
   
   Whoa! Before you break out the spreadsheet, take a look at “Where do budgets come from,” by the staff at Riger Advertising: http://www.riger.com/
   It’s a nifty piece written with wit and wisdom.
   

When your product fits the niche,
a club newsletter is a good buy

While The Beagle Bugle, or the Pony Next Press doesn’t pop in your head as a place to advertise, don’t write them off too soon. Yes, what the space reps tell you about the power of concentration is true; but it’s also true that a little trickle of cash in a club pub is like permission marketing: You’re welcomed. They want you. You provide fresh content and you help pay for printing and postage.

The secret though, is to take these publications seriously and leverage the opportunity. For example, Tom Luke, a seasoned marketer, introduced a new horse feed via club newsletters with one page, pre-printed inserts. These inserts had keyed discount coupons, not only to perk local dealer sales, but also to track and test copy appeals. The coupons were also used to capture opt-ins for a corporate ezine.

Good effort already. But then Tom took it to the next level. He visited all dealers in the area, detailed them on the program and supplied them with copies of the ads. Now, everybody was in the loop.

And then came the final reward. He asked each club’s program committee--- already exposed to the message--- if they would like him to give a “How to Talk” to their group. By now, they knew him, his company and his product, and he was welcomed back.

With attention to detail, he parlayed a few bucks into a mini program with maximum R.O.I. What’s more, he established a dialogue with the club’s members that helped him fine-tune his future marketing efforts with other clubs.

###

Chutzpah Is Good for Business.
Hubris Is Not.

Entrepreneurs who get everyone to drink the Kool Aid™ are like good quarterbacks: a little cocky, but not cocksure. They have the contagious courage and enthusiasm that makes things happen.

With aplomb they finesse the subtle difference between aggressive and pushy. They don’t annoy people. Still, they get attention. They get remembered. They’re good closers. They get business and keep business.

Beware, though, of the tyro tycoon loaded with exaggerated pride. Already a legend in his own mind he shouts his wish list as fact: “World Leader in Blah,” “America’s Favorite Blah”, The Number One Blah,Blah." All worthy goals. But don’t announce them until you get there, Pal.

Because of marcom clutter, folks have honed their B.S. detectors. And that's a good thing.

Credibility is king. If they don’t believe you, they won’t buy from you. And they have a lot of resources to credit or discredit your claims. Is it true? Man, you can click on it!

Hubris ...sometimes it’s just plain arrogance... spawns the unproven superlatives that crowd many marketing communications. And what a waste!

Empty words yank the chain that flushes a crappy message down the tube before it gets in anyone’s head.

Promise benefits you can deliver. Deliver more than you promise. It’s a good way to build a business and develop customer loyalty.

Lack of credibility can be
like a moat that separates
you from your customers

Lack of credibility is a perception, not a character flaw. You have to establish your credentials and you can’t do it without visibility.

Everyone in a company should be aware of the relationship between image and success. I’m not talking about some phony manufactured persona, but about the true essence you project of your company and its product or service.

It’s true: Your product or service is your ultimate salesman. Yet, before they can sell for you, they must be visible --- and creditable. The unknown is always a little scary, especially when you’re asking folks to part with their money.

So, how do you get visible without a fat ad budget? Invest a few bucks in some good
public relations.

Contrary to some opinions, the old fashioned news release is not dead. In the right
hands, it can still be an inexpensive and effective way to get some exposure. Just
remember, editors are looking for news, not an ad in sheep’s clothing.

Some PR folks never write a news release. They contact the media with ideas for
features that will interest the publication’s readers.

One of my favorite ezines is Joan Stewart’s The Publicity Hound. Every issue offers
tips and techniques you can use to ratchet up your visibility and leverage your
credibility.

Sign up for her newsletter at: http://www.publicityhound.com/

A philosophical imperative
for effective marketing

The guys at Google got it right from the start. Their mantra, “Don’t’ be evil,” whether we convolute, stretch, modify or tweak it--- can be summed up for all of us: “Do the right thing.” It’s an effective way to do business, win friends and influence people.

There are still would-be tycoons out there with their head tucked up where the sun doesn’t shine who have yet to notice that honesty is the best policy. Ah! And there’s the rub. Are a little cheating, a little positive spin, a little omission, and a little exaggeration--- dishonest?

Really, unless we’re lobbying for sainthood, we must accept the gray areas as a big part of the color spectrum. And so be it. But Mamma was right: honesty is the best policy. Just ask some of the rich guys already in jail and others waiting for an opening.

But do we really need to teach business ethics? Should the business world be any different than the world of personal relations?

Do we really need courses in sensitivity training? Are we too dense without special training to recognize the words and actions that hurt people---and customers and prospects?

True, there are more than enough scoundrels and insensitive clods to go around. If you know any, suggest they try to be empathetic and objective. It’s a good philosophical imperative. And, it’s good for business.

JR