As a marketer, I've never quite been able to get my head around Black Friday.
This is supposedly the day that most retailers finally make it into the "black" or profitability.
First of all, if you have a Brand – any Brand – that traditionally doesn't make a profit until 11 months into a calendar year, then there is something seriously wrong with your market offering, value proposition and more.
Why anyone would invest in that business model makes no sense to me.
Secondly, to totally prostitute your Brand for a few hours of one morning for one day offering ridiculous loss leaders which bastardizes your Brand, taxes your employees and has now turned deadly as it did for a Walmart in Long Island, should send you a clear message that you need to step back and re-evaluate things.
On a personal level, it saddens me to think about the state of people's greed and reckless consumption habits during a special time we should be giving thanks. In fact, the only thing we should be spending is our time with family, friends and those less fortunate than ourselves.
Right after Labor Day, I started to work on my 2009 marketing plan for my business and while plans are still underway, I thought I'd offer you a few quick tips to enhance or kickoff your own planning.
In fact, today is a great day because the traditional Thanksgiving Day leftover meal is a perfect marketing metaphor.
I'm sure many of you cooked some good and not so good turkeys this year, but isn't it amazing how many tasty things you can create the day after Thanksgiving (without the stress) like soups, sandwiches etc.!
Likewise, you can quickly lay a great foundation to your new marketing plan by carefully assessing the Turkeys you cooked in the past and asking yourself some easy questions such as:
- Which marketing efforts were beautiful Turkeys (homeruns)? What can we add/subtract to improve?
- What Turkeys were not cooked (or overcooked) enough and how could we improve them?
- Should we simply save time, money and aggravation and eat out next year (outsource)?
- Should we only serve white meat (reduce market/product offerings)?
- Should we serve turkey more frequently – not just on Thanksgiving (repeat campaigns, sales)?
- Should we only invite close loved ones to our celebration (fire annoying customers)?
- How can we make our preparations less time consuming and less stressful (critical path method)?
Simply put, ask yourself these kinds of questions and start your planning process now and turn more of your work days into memorable holidays!
"Now…our God, we thank thee, and praise thy glorious name." (KJV) Chronicles 29:13
May the grace and glory of the Lord be with you and your family on Thanksgiving and always!
According to the Direct Marketing Association's Power of Direct Economic Impact Study (October 2008), every dollar spent in email marketing delivers a $45.06 return on investment! And, every dollar spent on non email Internet marketing delivers $19.94!
Here is a bit more detail and opinion by Ken Magill in DIRECT.
If you're looking to save and make more of your marketing investment payoff, work on bullet-proofing your email efforts instead of jumping into the latest and greatest new marketing flavor of the month.