Monday, October 29, 2012

Beware of “Marketing” Sharks and How to Keep Them at Bay




Let’s just be honest.  Whether in Dallas or Denmark, there are individuals out there that run around claiming to be “marketing” experts but are really just sharks that simply give the profession a bad name.  And, truth be known, there are many small business owners that are ripe for being preyed upon by these unscrupulous individuals because “marketing” is still the “unknown” to many of them. Here is some advice and a little shark repellent to keep the hammerheads at bay.
 
1. Learn what marketing truly is.  Marketing is price, product, promotion and place (distribution).  It is not simply promotion.  Promotion including advertising, public relations, social media and the like are only components of marketing.  In actuality, marketing is a complex discipline that includes many elements.  Ever read a marketing plan?  Hopefully you have one, but if not, the plan entails much more than promotion.  Read up on the fundamentals of marketing and gain a true “textbook” understanding of the business discipline.  And, the next time someone says they are in the “marketing” business ask him or her what that exactly means.  You will be surprised at the lack of knowledge “marketing” geniuses really have about marketing.
 
 2. Demand a plan. Once you have a solid understanding of marketing, beware of those that use the term loosely, and ask them to submit a written plan for what they are proposing for you.  At Concierge PA, our core service offering is strategic communications.  The term is significant because we tie every effort on behalf of our clients to a comprehensive and structured plan that is designed to positively impact their fiscal goals.  Our efforts are not whimsical, but are based on solid research and involve measurable results.  When someone says they can do this or that in terms of “marketing,” tell them to put it in writing and demand a plan.
 
3. After you have demanded the plan, demand a contract.  Make sure that key deliverables are in writing with deadlines attached.  We recently have heard from several Dallas business owners that they each paid over $3,000 for websites and still have yet to get anything other than a landing page.  Without a contract, technically someone could argue that the landing page is the website and they did their job.  That is horrible business, but more importantly, it is unthinkable that a business owner would pay someone that amount of money without a completed product based on a mutually agreeable contract.
 
4. Never pay for any “marketing” service in full until it is produced as agreed.  If some “marketing guru” demands full payment before they begin a project, tell them to go fish, as there is no legitimate reason to justify full payment before project completion.  Take website design for an example.  If someone offers to produce a website for you, why would they need the full payment up front?  Many times you will hear the argument that he or she has been “stiffed” by past clients.  That argument is not valid because designers keep control of the password to the site until you pay them in full.  In other words, they already hold the power, so that argument is not valid in the least.  The same is virtually true with any project.  Demand for payment in full before production is even started should be a red flag.
 
You are in business to generate and gain business.  And, there is a reason for the phrase, "business is business."  Why on earth would anyone throw money around without sound business processes, documents and decisions to back up the expense?  Business should be structured and based on data and logic.  If you do not protect your business using sound business principles, you may as well swim with the sharks.
 
As always, keep your head above water and contact Concierge PA.

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