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Making a leap in a down economy

3 practices to better marketing

by Michele  |  952 views  |  0 comments  |      Rate this now! 

3.) Keep it simple. The Good to Great analysis shows Walgreen's far outpaced Intel, GE, Coca-Cola, and Merck from 1975 to 2000.  Cork Walgreen said this to Collins: “Look, it just wasn't that complicated!  Once we understood the concept, we just moved straight ahead.”  He created the best, convenient drugstores, with high profit per customer visit.  Elegant, isn't it?

Now don't go out and simplify your campaigns to a single vehicle to keep it simple and say that I told you so.  What we can learn from this is the elements of simple value and simple objectives aligned to a specific measure.  In a down economy, you need to be fast and nimble.  Know what your value is, what you want to achieve, and how you will measure successes.  Predictive analytics and complex segmentations have their place, but you and your teams need to understand exactly what needs to be done and how to know if it worked.  Discipline and assessment.

These three elements for marketing success really touch upon a notion of entrepreneurial spirit.    In fact, Collins puts companies in the Great Organization category if they are highly entrepreneurial and foster a culture of discipline.

Don't be afraid to jump start your marketing efforts with inventiveness and investment as long as it is easy to rally behind and your teams can execute.  Keep a keen eye on success factors and you can continue to innovate and invest, moving through iterations toward driving your business forward.

About the Author

Michele Goetz is the President of Prescient Market Research and Consulting putting 14 years marketing and market research experience to helping clients build roadmaps based on insight. http://www.prescientmrc.com

Read more by Michele

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