Anyone who is a Star Trek fan is probably aware that the race the Ferengi are ruled by business, they come from a world that has created an entire society completely wrapped around profit and business and to guide every Ferengi in their life-long pursuit of obtaining profit they created the “Rules of Acquisition” a book of 285 rules which cover just about every situation that you can think of. Some examples of these rules are:
Once you have their money, you never give it back
Opportunity plus instinct equals profit
Nothing is more important than your health, except for your money
The bigger the smile, the sharper the knife
Free advice is seldom cheap
No good deed ever goes unpunished
You are probably asking yourself why I am telling you about a make believe extraterrestrial life and their make believe Rules of Acquisition. Because I have decided that, while the Ferengi and their rules are make believe, all of us in business could use our own Rules of Acquisition; so I have decided to write my own. Now I think 285 rules are a bit much so I will just start with a few and I may add on to them as time goes by. Continue reading
In today’s modern world of business and marketing terms like “Globalization” and “International Marketing” are terms that every marketer, businessman, and entrepreneur should be familiar with. We live in a world that is getting smaller by the day and the business world has gone from a large metropolis to a small town and long gone are the days when a business could be secure in the fact that because they make a specialty item that is from a particular part of the world of that is made for a particular type of consumer that competition is practically nonexistent. Today’s businesses need to be very educated about cross culture marketing, and I am not just talking about big companies, even small mom and pop shops need to be concerned and need to educate themselves on the advantages and the perils of cross culture marketing, yes I said the perils, because where there was once not any competition or very little of it today other sellers can come from anywhere in the world. Many of you who sell items to a specific culture or nationality may think you have nothing to worry about because only companies from “El Salvador” or only companies from “Greece” or from the state of “Maine” manufacture your particular product. False. In this new business world order anything can come from anywhere, and if you think for one minute that your customers will be loyal for cultural reasons tell it to the Chinese who have entered thousands of markets over the past few years. Culture and loyalty may be strong when there is not a lot of competition but when then there is and enticements such as price and other strong factors enter into the equation many customers will jump ship.
But it’s not all doom and gloom, the other side of the cross cultural coin is that you can also expand your horizon and sell in markets that were once geographically prohibitive but now because of things like online marketing, social media, and social networking you are able to compete in markets from all over the world; but to do this you need to be smart, you need to be educated. There is an old saying that “You can buy in any language, but if you want to sell, you better sell in the language of your customer.” Many companies are learning the language of other companies’ customers and have successfully converted them, and culture and loyalty has not been enough to stop this conversion, and by language I don’t necessary mean the speech that comes out of one’s mouth, there is language and then there is language. Don’t be blind to what is going on in your industry; understand not only who the competition is but who the potential completion might be. Don’t get caught by surprise, be prepared. Get educated.
One of the things that has always amazed me when dealing with small and medium sized companies is the ignorance that exists when it comes to marketing. For example, most call centers do not have a marketing department, and I find this amazing; they will spend over $100,000 on a quality state of the art dialer system, PC’s, they will have an IT department; many of them employ well over 100 agents, so they have a sizeable payroll each month, they have an operations department; yet they have no marketing department. The upper management and/or the operations people will make the marketing decisions, and this just makes very little sense to me. Continue reading
I am excited to be able to share with UnderTheHood’s audience some of my experiences and insights, particularly in the online performance marketing realm.
I have been involved in sales and marketing since the age of 19 and have since 1996 been involved in online digital performance marketing. After launching my first digital media agency in 1996, I have worked with hundreds of advertisers and media partners to bring their campaigns to life on the web. Lead generation or direct sale, performance is what is important for advertisers. Continue reading
After five long months the Throttle Media blog is back! We have built a brand new site under the name of underthehood.us where we will bring you the quality articles you have come to depend on, and we are bringing new writers and new topics in addition to what we already do. I want to thank you for your patience in what was a longer than expected move to our new site. I hope that you will continue to follow our blog and that you will register on our new site because our success depends solely on you, and I would ask each and every one of you to please tell your friends and business associates about us. Starting Monday we will begin posting new articles. Once again I would like to thank all of you for your readership and your patience and I hope that you will find our future articles useful and informative. At the moment our archived articles are not showing, please be patient with us as we move them over the next few days. Thanks!