Think Twice

Peter Drucker suggested the question “ If we did not do this already, would we, knowing what we know now, go into it?”  P69

Do not embrace a strategy with out understanding the conditions in which it succeeds or fails.   Certain approaches are not necessarily good or bad but may be situationally dependant.   (P91 Idea Re-Written)

Social influence has a significant impact on buying patterns.   Therefore small differences in the initial purchase patterns and therefore visible “status” to customers makes a massive difference to overall lifetime sales.   P 113 (Idea Re-Written) fffffffff

The White Ladder Diaries

Consider using free-lance reps, wholesalers and distributors to sell products for you.  Go direct to local shops.

Produce cash flow forecasts. 

The smaller you are the more important it is to look professional.

Discounts.   Sliding scales are a bad idea as distributors sit on the sales until they hit the next level of discount.   Look at a flat discount.

Response rate changes with approach.  Just mail may get 2%,  Phone only 2-10%,  Mail then phone 2 – 15%, Phone then mail 5-15%, Phone then mail then phone 10 -20%.  (according to Calcom Group)  P108.

Combining different advertising methods towards the same customer increases response.

Fulfilment centres can be paid to distribute flyers with products they send out.

Predatory Thinking

Marketing like war is a zero sum game.   If you want something you have to take it from someone else.  In order for someone to win, someone has to lose.   P35  So you have to be a competitor you need to be prepared to make waves and upset people.

If you your two favourite foods together they don’t taste twice as good.  In fact they probably taste worse.  Marketing people need to learn the same lesson.  More is less.   You can’t have more than 100%.   You can’t add something without taking something away.   That’s why propositions need to be single minded so 100% of your marketing spend is on the main message.   P40.  (paraphrased)

An advertising problem always involves the question, how do we get someone to do (or think) what we want?   So the simple equation is always  “What’s in it for them?”.  P49

If we want something that works for them we need to forget about what works for us.   P55

It doesn’t matter what went in to it.  It matters what people get out of it.   P63

There are loads of ads I love but I don’t buy the product.  Does that mean advertising doesn’t work?  We if you believe that advertisings job is to sell things to people they don’t want then no it doesn’t work.  But if you view it as a way of persuading people who are interested, to give you an edge over your competitors then it does work.   P74 (idea re-written in my words)

Criticism is not always negative.  I can mean that someone thinks you are worth investing time in to improve.  P 84  (idea re-written)

We are only ever talking to one person (an individual customer).  When we communicate via media.  P113 (idea re-written)

Don’t let other peoples view of what is reasonable stop you.   Come to your own conclusions.  P246 (idea re-written)

“Efficiency is doing things right.  Effectiveness is doing the right things.”  P194 (quoting a common saying)