Avoiding Dreadful Marketing Ideas
The following marketing landmines masquerade as quick fixes. When the business chips are down, each of these worst ideas pops up to look like a good solution. Don't be fooled. Make sure every new idea soars above every single idea on this list.
1. Fight bad business with good advertising.
Here's the scenario: Business is down, so the owner points fingers at the economy and the competition and decides to run ads to overcome the problem. But the economy and the competition likely aren't the culprits. Business is down because customers have defected — and new prospects haven't been converted — because the company's product or service is lacking.
Running ads before improving the offering will only put a spotlight on the problem. In the words of advertising legend Bill Bernbach, "Nothing kills a bad product like a good ad." Instead, fix the product, polish the service, then run the ad.
2. Run kitchen sink ads.
A kitchen sink ad is like a kitchen sink argument in that every point — every feature, every idea, every department's viewpoint — is tossed into the mix in an effort to get more bang for the buck (a truly awful phrase that deserves its own place on the list of worst ideas). The result is a jam-packed ad featuring a long list of product bells and whistles but no clear focus and no attention-grabbing consumer benefit to seize and hold the prospect's mind.
Take aim instead: Know your best prospect and what need that person seeks to address. Then stop that person with a headline that highlights the promise of your most compelling benefit, backed by copy that proves your claim with facts.
3. Portray the customer as a fool.
Trying to be funny or grabbing attention by showing the customer as an inept bumbler wandering through life in search of your solution is hardly the way to win customers and influence buying decisions.
Form a sincere relationship with your prospect instead of poking fun at the very person you're trying to influence.
4. Save the best for last.
It happens in presentations, sales letters, and ads. Businesses wait to divulge the greatest benefits of their product until the last minute, thinking that prospects will be sitting on the edges of chairs in rapt anticipation.
Not so. If your opening doesn't grab them, they won't wait around. Four out of five people read only the headline, they listen to only the first few seconds of a radio ad, and if the first impression of a personal presentation is weak, they tune out for the rest. Eliminate slow starts and lead with your strengths.
5. Change your logo often and dramatically.
And while you're at it, change your Web site constantly. And your advertising tagline, too. It sounds ridiculous, but it's what happens when businesses let media departments, freelance artists, employees, and others create materials without the strong parameters of image guidelines to ensure a consistent company image.
If you want prospects to trust that yours is a strong, steady business (and you do!), show them a strong, steady business image.
6. Build it and trust they will come.
Sorry, but consumers aren't just sitting around waiting for the next new business, new Web site, new branch outlet, or new event to come into existence. They need to be told, reminded, inspired, and given reasons and incentives to take new buying actions. When you build it, build a plan to market it.
7. Move fast: If you snooze you might lose.
This is irresistible bait for businesses that operate without a marketing plan. They don't know their own objectives and strategies, and so any tactic sounds like a fine idea.
As a result, when a proposal comes in from an ad salesperson, an Internet business opportunity promoter, or even from a company that wants to merge or partner, the business owner is all ears, fearful that this might be an opportunity too good to pass on. Often, the idea comes with a quick deadline or the threat of involving a competitor instead, leading straight to a hasty decision.
Remember what they say about the correlation between haste and waste.
8. Think people will care that you're under new management.
Or think that they'll care that We've doubled our floor space, We've added a new drive-up window, or any other self-congratulatory announcement that produces similarly low market enthusiasm. To move the spotlight off yourself, add a customer benefit. Turn We're celebrating our fifth anniversary into We're celebrating our fifth anniversary with five free events you won't want to miss.
Remember, prospects care most about what's in it for them.
9. Believe there's a pie in the online sky.
Contrary to rampant belief, the opportunities of the cyber world aren't just ripe for the picking. The chance of opening a Web site and instantly winning business from distant new prospects is as likely as opening a toll-free line and immediately having it ring off the hook with orders.
To win your slice of online opportunity, invest time and money to drive people to your site.
10. Believe your customer is captive.
Reality is, your customers know they have other options.
If they're standing in front of you, and you turn your attention to answer a phone, they notice. If you offer new customers a better deal than current customers enjoy, they notice. If you spend more time and money courting new prospects than rewarding business from current clientele, they most certainly notice and in time will begin to disengage from your business as a result.
Realize that customer loyalty is the key to profitability, and that earning it is a never-ending process.

Small Business Glossary
accounts payable
A type of short-term operating liability of a business, in which you record the amounts owed to vendors or suppliers for the purchase of products, supplies, parts, and services that you buy on credit.

Small Business Glossary
accounts receivable
The short-term asset in which you record the amounts owed to your business from sales of products and services on credit to your customers.

Small Business Glossary
accrual
The process of adding periodically to an asset or debt, usually as a percentage over time.

Small Business Glossary
adverse opinion
An audit opinion (usually presented by a CPA) that says that accounting statements as a whole don't present results fairly or don't conform with the generally accepted accounting principles (GAAP) of the United States.

Small Business Glossary
affiliate program
An agreement by which you contract to place ads on another business's Web site and pay that business when a visitor to the business's site clicks through to or purchases something from your site.

Small Business Glossary
American cut
A style of men's suit that has two or three buttons, a center-vented jacket with natural shoulders, and pants with a straight line.

Small Business Glossary
amortization
The allocation of the cost of an intangible asset over its expected useful life to the business.

Small Business Glossary
architecture
The relationship between your business and your brand that forms a single, understandable entity.

Small Business Glossary
asset
All things owned by the business, such as cash, buildings, vehicles, furniture, and any other item that's used to run the business.

Small Business Glossary
audit
A formal, often periodic examination and checking of accounts or financial records to verify their correctness.

Small Business Glossary
balance
1. An equal amount of debits and credits in an account. 2. The remainder in an account when debits are paid.

Small Business Glossary
balance sheet
A record of the financial situation of a business on a particular date that lists the business's assets and the claims against those assets.

Small Business Glossary
banner ad
A graphical Web advertising unit, usually measuring 468 pixels wide by 60 pixels tall.

Small Business Glossary
blast e-mail
A form of online advertising that's similar to direct-mail collateral advertising; anti-spam regulations apply.

Small Business Glossary
bond
1. An interest-bearing certificate issued by a business, promising to pay the holder a specified sum on a specified date. 2. A strong, durable white writing paper of high quality.

Small Business Glossary
brand
1. (noun) A promise about what your business is and what benefits it delivers that gets reinforced every time people come in contact with any facet of your business. 2. (verb) The process of building a positive collection of perceptions in your customers' minds.

Small Business Glossary
British cut
A style of men's suit that has a side-vented or unvented jacket with square shoulders and a tapered waist, and pants that are relatively narrow.

Small Business Glossary
business promise
A written summary of the positive difference you deliver to all who deal with your business.

Small Business Glossary
buzz
A form of marketing that uses high-profile entertainment or news to get people to talk about your brand.

Small Business Glossary
capital
The ratio of your business's debt to assets or equity.

Small Business Glossary
capital expenditure
Money spent to replace and improve business facilities, not for operating expenses.

Small Business Glossary
cash disbursement
The transfer of funds from a central account to diverse accounts to effect more efficient cash management.

Small Business Glossary
cash flow
The cash generated by a business's operations to produce and sell its products.

Small Business Glossary
certified management accountant; CMA
A designation of professional accounting achievement sponsored by the Institute of Management Accountants (IMA), which isn't regulated by the government.

Small Business Glossary
certified public accountant; CPA
An accountant who has met educational and experience requirements and has passed a national uniform exam to qualify for a state license.

Small Business Glossary
click-through
A situation in which a Web user sees your online ad and clicks on it to take him or her directly to your business's Web site.

Small Business Glossary
cobrand
1. (verb) Capitalizing on the benefits of two compatible brands that present similarly desirable attributes to consumers by combining those brands. 2. (noun) The combined brands of two separate businesses.

Small Business Glossary
collateral advertising
A stand-alone advertising vehicle, such as brochures, newsletters, and electronic direct mail.

Small Business Glossary
contingent worker
An employee who works in your business on a temporary basis.

Small Business Glossary
cooperative; co-op
1. A business designed so that customers who purchase from it actually own a portion of the business. 2. An agreement in which many suppliers, manufacturers, and distributors of various major products and goods offer advertising money to their retailers.

Small Business Glossary
copy
The actual words in an advertisement, distinct from the layout, picture, music, and so on.

Small Business Glossary
copyright
1. (noun) Protection provided by the government to the creators of original works, giving the owners of the copyright the exclusive right to reproduce the work and protect its use. 2. (verb) To apply government protection to original work you created.

Small Business Glossary
corporation
A business structure that establishes the business as a separate legal entity, which protects its owners' personal assets from claims against the business.

Small Business Glossary
cult brand
A brand that consumers have adopted, taking ownership of that brand, and its product or service.

Small Business Glossary
demographics
The characteristics of a population (such as age, gender, income, and so on) collected or used for market research.

Small Business Glossary
depreciate
To allocate a fixed asset's cost over three or more years, based on its estimated useful life to the business.

Small Business Glossary
direct selling
A business format in which you sell consumer products or services in a person-to-person manner, away from a specific retail location.

Small Business Glossary
disclosure
Information provided in a financial report, in addition to the information in the financial statements.

Small Business Glossary
distributor
A business that buys products from wholesalers (and sometimes from manufacturers) and resells them to direct-sales organizations, brokers, and dealer.

Small Business Glossary
embezzlement; larceny
A form of fraud that involves the illegal use of funds by a person who controls those funds.

Small Business Glossary
equity
All the money and assets invested in a business by its owners.

Small Business Glossary
ethnocentric
Based on the religion, culture, and social norms of one's own environment without consideration of the many differences between cultures and ethnicities.

Small Business Glossary
exposure
The number of times a consumer has the opportunity to see an advertisement.

Small Business Glossary
Federal Trade Commission; FTC
A U.S. federal agency whose duty is to investigate unfair methods of competition in business, fraudulent advertising, and so on, and to restrain or prosecute those charged with such practices.

Small Business Glossary
fixed asset
An informal term for the long-lived physical resources used by a business in conducting its operations, which include land, equipment, furniture, and vehicles.

Small Business Glossary
fixed cost
Expenses or costs that remain unchanged over the short run and don't vary with changes in sales volume or sales revenue.

Small Business Glossary
focus group
A gathering of customers or prospective customers who share input about a product or marketing idea with a professional moderator who guides the conversation and prompts input.

Small Business Glossary
franchise
An agreement in which one business grants another business the right to distribute its products or services.

Small Business Glossary
generally accepted accounting principles; GAAP
The authoritative standards and approved accounting methods that businesses in the United States should use when drafting their financial statements.

Small Business Glossary
going concern
A currently operating business that's expected to continue to function as such and remain viable for the foreseeable future.

Small Business Glossary
gross margin
Sales revenue minus the costs of goods sold for a certain period.

Small Business Glossary
infringe
To violate the terms of an agreement or disregard others' rights, such as with a copyright or patent.

Small Business Glossary
intangible
Any asset a business owns that has value but can't be touched, such as licenses, patents, and trademarks.

Small Business Glossary
Italian cut
A style of men's suit that has an unvented jacket with padded shoulders and relatively full pants.

Small Business Glossary
liability
A debt your business owes, such as vendor bills and bank loans.

Small Business Glossary
limited liability company; LLC
A business structure in which has ownership and IRS tax rules similar to that of a sole proprietorship or partnership, but the owners can't be held personally liable if the business is sued.

Small Business Glossary
loss leader
A product or service that a business sells cheaply or below cost in order to attract customers.

Small Business Glossary
margin
A business's sales revenue minus the cost of goods sold expense and minus all variable expenses; in other words, margin is profit before fixed expenses are deducted.

Small Business Glossary
mission statement
A written summary of your business's goals and values.

Small Business Glossary
monarch paper
High-quality paper that's slightly smaller than standard-size paper, used for personal business letters, with the employee's name and the business's address printed on it.

Small Business Glossary
operating cycle
The period of time between the acquisition of goods and the revenue resulting from sales and subsequent collections.

Small Business Glossary
partnership; firm
A business owned by more than one person in which each partner in the business is equally liable for the activities of the business.

Small Business Glossary
patent
1. (noun) An official document that grants the exclusive right to produce, sell, or get profit from an invention or process for a certain number of years. 2. (verb) To obtain this official document.

Small Business Glossary
pickup rate
A discounted rate for ad placement in a newspaper, which newspapers give in return for running the same ad two or more times in the same week.

Small Business Glossary
profit
Sales revenue (and other sources of income) minus expenses (and losses) for a period.

Small Business Glossary
proxemics
The study of how people use and structure space or spatial arrangements.

Small Business Glossary
public relations; PR
All the activities — including employee, community, industry, and government relations; customer and prospect communications; publicity; and even crisis management — that marketers use to build and develop a favorable image of a brand.

Small Business Glossary
pyramid scheme
A fraudulent direct-selling organization which only recruits distributors — and collects fees from them — without also selling products so that the creators can unlawfully take all the distributors' money.

Small Business Glossary
qualified opinion
An audit opinion that states that, except for the effect of a matter to which a qualification relates, the financial statements are fairly presented in accordance with generally accepted accounting principles (GAAP).

Small Business Glossary
quan xi
A Chinese phrase that means the quality and integrity of a business relationship.

Small Business Glossary
revenue
All money collected in the process of selling a business's goods and services.

Small Business Glossary
Sarbanes-Oxley
A wide-ranging U.S. corporate reform legislation act that lays down stringent procedures regarding the accuracy and reliability of corporate disclosures, places restrictions on auditors providing non-audit services, and obliges top executives to verify their accounts personally.

Small Business Glossary
security
A financial instrument that shows ownership, such as stocks or bonds.

Small Business Glossary
sell-through
An advertising campaign that encourages immediate sales.

Small Business Glossary
sexual harassment
Any unwelcome physical, visual, or verbal sexual advance, or a request for sexual favors, that interferes with the victim's job performance.

Small Business Glossary
share
Evidence of ownership that represents an equal proportion of a business's capital.

Small Business Glossary
skyscraper
A vertical banner ad.

Small Business Glossary
soft skill
An ability, such as conflict management or team building, that's defined in terms of expected outcomes rather than as a specific method or technique.

Small Business Glossary
sole proprietor
A person who owns a business individually and who is personally liable for the activities of the business.

Small Business Glossary
solvency
The ability of a business to pay its liabilities on time.

Small Business Glossary
source document
Evidence (such as a deposit slip or invoice) of a business dealing; critical in constructing an audit trail.

Small Business Glossary
spin
A particular emphasis or slant imparted to information in order to create a desired effect.

Small Business Glossary
stock
A share of a particular publicly traded business, which gives the stockholder a proportionate share in ownership of that business.

Small Business Glossary
tagline
A memorable phrase that provides consumers with a quick indication of your business's product, brand, and market position.

Small Business Glossary
tangible
An asset owned by the business that can be touched, such as cash, inventory, or vehicles.

Small Business Glossary
trademark
A word, phrase, symbol, design, or a combination of these used to identify and distinguish a business and its products or services.

Small Business Glossary
turnover
When employees leave a business to work elsewhere.

Small Business Glossary
unqualified opinion
An audit opinion that the auditor may issue only when the business being audited has no identified material weaknesses and the scope of the auditor's work hasn't been restricted.

Small Business Glossary
variance
Official permission to bypass regulations, usually in regards to zoning laws.

Small Business Glossary
venture capital
Funds invested or available for investment at considerable risk of loss in potentially highly profitable enterprises.

Small Business Glossary
viral
A form of marketing that creates entertaining or informative messages that are designed to be passed along by "wor of mouth," often electronically.

Small Business Glossary
vision statement
A written definition of your business's long-term aspirations.

Small Business Glossary
wholesaler
A business opportunity in which you buy products directly from manufacturers, mark up the price, and sell them to retailers.

Small Business Glossary
write down; write off
To reduce the book value of an asset, usually because of depreciation or a decline in market value.

Small Business Glossary
zoning
How the government regulates the approved uses for land.
Comments (0)