- REALISTIC – Check your sanity
- REASSESS – Measure/quantify Return on Marketing Programs (ROMP)
- RETRENCH – Economize, tighten your belt wisely
REALISTIC
Check your sanity. If you subsist in delusion, it will eventually come to an unwelcome end. If external conditions like the economy change, adapt to the new reality. You will only thrive long term in the factual world. Don’t let your opinions prejudice decisions. Pragmatically consider facts, don’t base conclusions on idealism or inclinations. Reality as a rule wins; it constantly catches up and demoralizes false notions.
REASSESS
Measure/quantify Return on Marketing Programs (ROMP). Evaluate resources — funds, people and time for each promotion. In todays fast-paced, message cluttered world, sophisticated marketers must focus on applying integrated marketing communication that’s effective across media platforms, relevant, targeted, and consistent over time to move prospects from “awareness” to “action”. Continually verify your customers’ worldviews, that’s where your value resides. Ultimately, it does not matter what you think, it’s what your customer’s believe and experience that drives their behavior. Invest more on the uppermost return on campaigns, promotions and lead generation activities. However, don’t ignore marketing channels entirely or else you are liable to miss opportunity to further cultivate relationships in addition to potential long tail growth opportunities.
RETRENCH
Economize. Tighten your belt wisely. Trim and reduce marketing initiatives prudently. Cut back on what’s not working. Don’t guess what’s working and what’s not — measure, adjust and adapt. Retrench does not mean reposition; it means logically re-evaluate and execute more precisely.
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