Successful marketing strategies

Posted July 1st, 2007 by Dr James Pratt

Whenever we talk about effective marketing we have to also talk about goals. Most marketers, like most people, foolishly play blind archery. Archery is tough enough. Why make it more difficult? The first step in the marketing process is to clarify what you want to accomplish. Many businesses ultimately fail because their marketing objectives are too shallow. In other words, if your only objective is a certain level of sales volume and income, you're building your business on shifting sand rather than a solid foundation.

Hitting high sales volume goals is actually pretty easy if that's all you want to do. It starts to get difficult when you begin interlocking that objective with other objectives, such as a
certain amount of profit and retained earnings, a certain level of quality in products or services, positive and lasting customer or client relationships and so on.

One individual built a 500 million dollar company from scratch in thirty-six months. He once made the statement:

"Making a million dollars was the easiest thing I ever did. Believing it could happen to me was the hard part that took thirty-seven years."

The obvious point is that making a lot of money is more dependent on your beliefs than on any other factor, and I agree with that.

This fellow did build a half billion dollar empire in just three years and he did personally pass the millionaire mark several times over in that same time period, but he also subsequently
lost it all and more even quicker and is still some fifteen years later working his way through leftover, lingering legal problems.

Why?

He had too few interlocking objectives governing his marketing strategies. His only clear objectives were to achieve high financial benchmarks and build a large international sales organisation.

Those objectives alone are relatively easy to achieve, especially if you do not connect them with other governing objectives like sustaining lasting relationships with satisfied customers, preventing lawsuits and legal problems, achieving certain retained earning levels, and so on.

So, ideally, you should carefully construct an interlocking structure of goals, objectives and values to direct your marketing efforts.

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