Five Strategies For Eliminating Waste In Marketing

By Author: D John Carlson
Total Articles: 1
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Target the smallest possible market. Establish a brand community. Eliminate direct competition. Develop the optimum product. Focus on lifetime value. In the late 1800s – businessman- John Wanamaker famously said – ‘Half the money I spend on advertising is wasted; the trouble is I don’t know which half.’ There are four things you should know about this observation:It is as valid in 2022 as it was in the 1800′. Advertising is not the only area of marketing where there is waste. The waste has not stopped with the trend toward digital media. Waste is not and should not be inevitable. There is no doubt in my mind that waste in marketing is as rampant in 2022 as it was in the 1800s. One researcher suggested that 60% of all tracked advertising is wasted.I regularly see waste in all areas of marketing – with content marketing high on the list. Research has indicated…

Marketing is not advertising – traditional or digital. Strategic marketing involves causing a group of human beings to behave as the marketer needs them to for the first time, last time, more often or less often, while maximising the perception ...
... of value.

Cost-effective marketing involves the strategic leveraging our knowledge of consumer behaviour aligning this with consumer, community, social, marketing and technology trends. Profitability is maximized when marketers understand the strategies to counter research findings that 30% of all digital advertising and 60% of all marketing fails to generate a return on investment.

This video looks at marketing and branding from a highly strategic perspective. Like all videos in the series, this one specifically draws on the science of consumer behaviour – leveraging its capacity to drive performance while reducing costs.

I research, develop, and advise on implementing strategies to identify and leverage opportunities, and eliminate complex problems.

As an advisor, company director, advisory board member and mentor, I work with organisations of all shapes and sizes to drive the consumer and business behaviour that maximises performance with strategies that minimise costs.

Eliminating marketing waste is a passion. Over 30 years, I have learned that too many organisations spend too much on initiatives that are not cost-efficient.

My primary expertise includes:

• Research – including customer insights and behavioural economics.
• Brand – including defining, creating, and communicating a brand.
• Marketing – addressing -product, experience, pricing, and distribution.
• Communication – addressing both traditional and digital channels.
• Business development – systematic B2B business generation.