Many of you have likely heard the cliché, “I know half of my advertising works, I just don’t know which half.” Actually, it’s more like 1% to 37.3% of your advertising works, depending on who you talk to (Seth Godin or Rex Briggs), and whether or not you’re using traditional media and a traditional media mix vs. alternative and targeted media. That’s because, as consumers, we’re tuning things out.
I received some bad news today. One of my clients is cutting back on their marketing. It’s significant. Their industry is reeling, and so, marketing is one of the first items to get cut. It’s a very natural and understandable reaction, but it’s a big mistake.
In an age when everyone is touting transparency and authenticity (and why shouldn’t we?), Pfizer has chosen to mislead the public by hiring a advertising pitchman who isn’t exactly who he appears to be. It’s a grave mistake. Why? Because people don’t like to be duped. I don’t. Do you?
Experience tells me that most entrepreneurs simply don’t see marketing as a line item that needs to be taken as seriously as, say, their annual equipment or supply budget, and that’s a mistake. In over 20 years of working in this industry, I’ve confirmed that most entrepreneurs see marketing as an afterthought or a “necessary evil.”
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