My engineering mindset always has me ask, “Is this the right solution for this problem?” In marketing most people give something a “good shot” and hope for the best. Doug Hall has done what I’ve been wanting to see for years: he’s done extensive research of what works in marketing, why, and how you can apply it to your business. His passion is Meaningful Marketing (as contrasted with Mindless Marketing).
The book begins with a 13 question multiple-choice test (the author reports that typically marketing professionals get 4 out of 13 correct!). Here are some of his questions:
- The smartest way to grow sales is: a) build loyalty or b) find new customers
- Most new products or services fail because of: a) poor execution of sales and marketing, b) poor product or service performance, or c) not being a very good idea in the first place.
- When selling to a customer it is best to: a) be blunt and direct about what you offer or b) use a softer, relationship-focused approach.
While the research is based mostly on corporate marketing, many of the points apply to small business as well. The chapters cover the following topics: marketing strategy, marketing message, Mindless Marketing, selling, leadership & teamwork, and Meaningful Marketing vs. Mindless Marketing.
The format of the book is deceptively simple. The left-hand page details a specific scientific advice, and the right-side gives practical ideas to help you implement the advice. Implementing any of the advice is hard work, and that’s where consultants (such as myself) can be a huge benefit to your company.
Here are the author’s secrets to success:
- Be bold and brave.
- Add uniqueness to innovation-decision metrics.
- Seeking new markets is 10 times more successful than pursuing incremental innovations.
- A future-focus strategy is 10 times more valuable than a “voice-of-the-consumer” approach.
- Pioneering results in double the sales volume over being fourth to market.
- The bottom line: If you offer the “same old stuff” (S.O.S.) you are “— out of luck” (S.O.L.)
Those who cannot learn from (marketing) history are doomed to repeat it. Don’t make your business a failed statistic.