Thursday, December 27, 2012

The Myth of the Marketing ‘No-Brainer’


By Julie Wright, President

Over the past 20 years, I’ve often heard people ask for the ‘no-brainer’ marketing idea. Two weeks ago, it was an entrepreneur with a national retail product looking for a PR ‘slam dunk.’ And two days ago it was the nonprofit executive overseeing a multi-million dollar fundraising campaign who scoffed at the notion that marketing dollars should be budgeted for her organization’s social media program.

This thinking is a dangerous delusion: There are no marketing no-brainers, slam dunks or results without a commitment of time, resources and, yes, budget.

How can I be so sure? It’s pretty obvious to me: If it were that easy, we’d all be millionaires and every nonprofit would be well-funded.

It takes a lot of hard work and money to understand your target market’s needs, reach them with your messages and keep those messages top of mind so that they think of you when they are ready to buy or donate.

Social media may have low barriers to entry but that doesn’t mean that making it work is free. Far from it. Like press coverage, engaging your target audience via social media means you need to earn their attention—earn, as in “to receive as return for effort and especially work done or services rendered.”

Entrepreneurs underestimate the investment required in time, attention and dollars to earn both their market’s attention and its business. This myth may be a big reason that roughly half of all businesses fail within five years.

Nonprofits need to keep their cause “top of heart” with donors all year round through storytelling and sharing. Imagine how donors will feel when reading a yearend appeal letter when they know how hard an organization has been working all year round. Their heart is already open to the appeal.

Return on investment from marketing activities requires strategies, systems and the people in place to see them through. The first step to marketing success is letting go of the idea that there’s a slam dunk, no-brainer or result to be earned without any investment.

No comments: