When it comes to marketing, opinions are like, well…you know…and, yes, everyone has one.
When it comes to marketing, I’ll be the first to admit: My opinion does not matter. At all! Your board’s opinion does not matter. At all! Your spouse’s opinion…your girlfriend’s opinion…your boyfriend’s opinion…your Golden Retriever’s opinion. None of them matter. At all!
Yes, I realize that is a tough pill to swallow. Egos get bruised, which is their only real purpose.
I remember creating a branded promotion for a client. We gave away $100 and a chance at a free cruise for opening and using a new Free Checking Account. Most bank’s have a Free Checking product, so getting someone to change from their established ‘free account’ to our ‘free account’ was a challenge for certain. It’s a hassle. We ran the promotion three years at around the same time of year. Each year results increased. The last two years, they increased substantially. It was a very successful promotion.
Then the board weighed in.
It was a typical message from the board.
“Everyone’s tired of that. “Let’s do something else.”
Translated: “We’re tired of that. Let’s do something else.”
I wanted to see what a fourth year could do. They wanted something new and shiny. The idea? They wanted a promotion that rewarded prospects for various activities. For example, you get $50 for opening this account…$25 for including direct deposit…$25 for that account, etc., on and on went the laundry list.
Maybe a consumer from the 1920’s would have the attention span to keep up, but not the 2020’s. The ‘information age’ has made us…hmm…well…OOH A SQUIRREL!!!
The results?
Flop.
This promotion was far too confusing to gain any traction and the results yielded about 25 percent of the previous year’s tally in terms of new accounts. Revenue–both gross and net, were also down for the promo.
At that point, of course, “Direct Marketing doesn’t work.” (Nevermind, of course, that we used Direct Marketing, TV, Radio and Digital as well.) It couldn’t have been a doomed promotion. Blame the media because ego matters. Opinions matter.
Results didn’t really matter…until they mattered.
You see, the customers had spoken loudly and clearly over the course of the previous three years. But those results were overshadowed.
So, when asked, “What do you think about XYZ?” As mentioned, I’m quick to point out, it doesn’t matter what I think. What matters is your customers. Your prospects. That’s where the results will come from.
So, when I hear: “My girlfriend thinks this…and she’s a marketing genius!” And I also hear that this particular marketing genius is a waitress…well, it’s like hearing fingernails on a chalkboard. Nothing against waitresses, mind you.
When I hear: “Direct Marketing doesn’t work. I just throw that crap in the trash!” Again, with the fingernails for that insightful marketing survey: Sample Size: 1.
When I hear: “My wife thinks…” Okay. You get the picture because: None of those opinions matter.
What matters?
Results.
Not the opinions of a spouse or a hottie you’re dating. Not the board.
No.
The only thing that matters is what your customer thinks and further…how they cast their vote. And, yes…that vote is only cast in revenue. In dollars and sense. Not in Like’s and Share’s. Those things can be great and strong indicators of a meaningful program, but rarely correlate directly to cash in the bank. That, my friends, is the only result that truly matters.
Results are the focal point of our work for you. Email us: info@brandvisionmarketing.com or email me directly at strueblood@brandvisionmarketing.com . Tell me about your goals. Where are you now in terms of revenue? Where do you want to be? In what timeframe do you want to achieve this? What money can you allocate to a program that is designed to get you there?
Those are tough questions and not for the faint of heart. If you have those answers, we probably have answers for you…with results in crosshairs.
BrandVision Insights 