Harmful Marketing and Advertising Strategies
I just love to follow the new marketing and advertising campaigns that roll out of high priced consulting firms and are approved, accepted and financed by some reputedly some smart corporate execs.
Here are some of my favorites:
A well know internet match making service, MATCH.COM, advertises the guarantee that "If you don't find the perfect match during your 6 month subscription period, we will give you the next 6 months free! "
That makes me laugh every time I hear it. Why in the world would someone want to waste their time, another six months, on a service that did not produce results. Its advertising that promotes the illogical of repeating an approach known to have failed.
A window treatment company named itself to promote its service: "3 Day Blinds". Absolutely great idea to get people into the store, plus the procrastinators who only have 3 days left before a big event are much less likely to be price conscious.
Great idea. However, when you get to the store and ask which of these offerings can I get installed in 3 days, the answer is "NONE". The fastest we can install them is 7-10 days.
"Is that because you are so busy installing other orders?"
"No, that is the fastest we can measure, order and process the order"
That generates a ton of great word of mouth recommendations.
Chase Banks sends out "special checks to preferred customers" advertising that the checks can be written for amounts up to your approved credit limit and one option proclaims no interest for a number of months"
Reading the fine print you see that there is a 3% administrative fee ( not interest mind you ) which has $55 minimum. That ends up to be 5.5% if you write the check for $1000 and the term is actually a full 12 months.. paid up front no less! It ends up being at least 3% for loans over $1833, and a whopping 11% on a loan of $500.
I would submit that all three of these types of marketing / advertising end up doing much much more harm than good over the long run.
So careful how you conduct yourself in the marketplace. Nothing is more effective than "word of mouth" communications, and that works for bad opinions as well as good ones.
For more refer to my article Marketing and "Advertising Myths : Why some do more harm than good" and "The Future of Marketing: Impact of thee Internet".
Here are some of my favorites:
That makes me laugh every time I hear it. Why in the world would someone want to waste their time, another six months, on a service that did not produce results. Its advertising that promotes the illogical of repeating an approach known to have failed.
Great idea. However, when you get to the store and ask which of these offerings can I get installed in 3 days, the answer is "NONE". The fastest we can install them is 7-10 days.
"Is that because you are so busy installing other orders?"
"No, that is the fastest we can measure, order and process the order"
That generates a ton of great word of mouth recommendations.
Reading the fine print you see that there is a 3% administrative fee ( not interest mind you ) which has $55 minimum. That ends up to be 5.5% if you write the check for $1000 and the term is actually a full 12 months.. paid up front no less! It ends up being at least 3% for loans over $1833, and a whopping 11% on a loan of $500.
I would submit that all three of these types of marketing / advertising end up doing much much more harm than good over the long run.
So careful how you conduct yourself in the marketplace. Nothing is more effective than "word of mouth" communications, and that works for bad opinions as well as good ones.
For more refer to my article Marketing and "Advertising Myths : Why some do more harm than good" and "The Future of Marketing: Impact of thee Internet".
