Tuesday, October 2, 2012

My Advertising Philosophy

(1:05) I've been involved in sales and marketing for 3 decades. During that time I have worked for a variety of companies from Fortune 500 to small start-ups, including a few of our own. I received my MBA pre-Internet when ad campaigns where planned out far in advance as companies had to meet the long delays involved in print and other media of the day. Costs where generally high and it was difficult for small players with limited budgets to participate.

(0:54) Back then large established companies generally had the advantage as they could afford the money and time it took to complete an ad campaign. Times have changed and new times call for new methods. Today, small, nimble, and fast can win if you use those characteristics to your advantage.

(0:46) Advertising successfully today calls for greater flexibility and accountability. I believe there are four requirements which must be met to obtain this success:

(0:41) 1. No long term, inflexible advertising campaigns. Long term, expensive, inflexible advertising campaigns are only good for the organization that is selling the advertising. Flexibility is key today and you must be able to change your tactics when they do not work or circumstances change.

(0:34) 2. Advertising results must be immediate and measurable. If anyone tries to sell you advertising and tells you that there's no way to know if there's an impact until months or years have passed, walk away. With results that are immediate and obvious, you can decide what works and what doesn't and then adjust.

(0:25) 3. You must be able to experiment to find what works. The old ways are gone, the new world is evolving. Success requires flexibility, speed, and experimentation. You need to be able to try things, maybe crazy things. That wild idea might just be the thing that speaks to boaters and brings them in. There should be no time constraints when you're experimenting because that limits your explorations.

(0:13) 4. It's all about partnerships. Creating win-win relationships creates a very powerful engine of success. Not only are the organizations around you part of those partnerships, your customers need to be your partner too. That will create long-term, passionate customers who will tell everyone they know about you. And on the internet, everyone talks.

(0:02) And that's the marina minute.