Money For Nothing

I once went shopping with my nephew, who was 7 at the time.  We were on a little spending spree, since he was allowed to take a small amount of money out of his savings for good behavior.  Our goal was to buy lots of candy.  So we spent a lot of time in the store, selecting all his favorite items.  After he paid the clerk, he stuck his hand out expecting all his money back, not realizing that he SPENT his money.  Ooh, what a lesson, that little boy cried for hours!

 This story still cracks me up, especially because it reminds me of companies who are new to marketing.  They can get so frustrated when they don’t see immediate returns, and it’s hard to accept that sometimes it takes “a while” to prove marketing works.  I try to approach this from the other way, i.e., there are examples of companies where lack of marketing hurts. 

I recently heard about a nice quality, mid-priced watch company, with a great reputation for almost 150 years.  Two years ago, when the going got tough, they saved money by eliminating marketing.  In the meantime, their primary competitor with an inferior product, continued to market themselves, and has surpassed them in brand value.  In fact, initial market research shows that this once-established company is going to have to start their marketing program from scratch. That’s not pretty.  Once you start marketing, try to continue, even just a little bit.  You don’t want your money for nothing!

All my best,

Aruna 

“What you risk reveals what you value”

                                 Jeanette Winterson

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