A New Year, a new opportunity to think, stretch and grow your business, career and organization. We are now officially 25-days into 2018. Buckle in, give me a minute or two of your time and please forward this onto as many people you know who are looking for growth in their business.
Two Key Questions to Ask Yourself
A couple of key questions to seriously think about:
- Did you have successful business growth in 2017?
- What do you want to accomplish in 2018?
The great Albert Einstein said the definition of insanity is “doing the same thing over and over again and expecting a different result.” This amazing scientist could’ve easily written a book on marketing because he perfectly describes the illness holding back too many businesses, sales professionals and entrepreneurs.
Having critiqued countless marketing pieces and answering thousands of questions from audiences, and clients the last few years I can tell you there’s a dangerous delusion regarding marketing that cripples and holds many businesses hostage. What is it?
Read on if you dare…this amazingly simple point can revolutionize your marketing.
The Silver Bullet Theory
I wanted to share with you a powerful concept related to marketing I call The Silver Bullet Theory.
Unlike the movies where all it takes is a silver bullet to kill the blood thirsty vampire and everyone in the audience celebrates, growing a business in competitive times isn’t that easy. The Silver Bullet Theory:
“Foolish belief that one form of media exists to solve all of your marketing and sales challenges!”
This is very dangerous and here’s why. When times are good almost any business can make money despite little, poorly executed or sometimes no marketing at all. When things change, new competitors arrive or things slowdown, which they often can or do for a variety of reasons, the frantic questioning process begins.
This is when the Silver Bullet Theory rears its ugly head and attacks the mind of the would-be marketer. Instead of planting marketing seeds for future growth and referrals when times were good and the balance sheet was in the black, the business finds itself in search of a magic solution to the new marketing challenges it now faces.
Strong, solid businesses use a marketing mix in both good times and bad to not only insure growth, but to defend against competition, industry changes and possible unforeseen circumstances that could hinder opportunities to grow even stronger during a recession or economic downturn.
One smart and cost-effective strategy to employ in building a successful marketing mix is the use of a structured referral program for existing customers. I talk about this a lot and will continue to bring updates on this wonderful tactic in 2018!