Formula for Marketing Success.

More than 20 years ago I started looking for a good definition of marketing. One that works for professional services. One that is easy to understand, simple to internalize. I said the words “marketing exists to enable sales” in a job interview once and immediately felt the tension leave the room. Few marketers understand this is the purpose of marketing.

 

At the same time, most professionals – including lawyers – learn about marketing on the job. Many grew up with the old model (go the right school, do good work, leverage your network, build a reputation and the referrals will come). They also learned some bad habits. The wrong 3Ps - that marketing is about publicity, pitching and parties. 

I needed something that would respect the experience of professionals and cut through the noise, the distraction of all the tactics and focus on the essence of the challenge. That’s when I came up with my formula.

 

 

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M=C(B+S)2XV

Marketing = Connecting Buyers and Sellers to Exchange Something of Value

 

Marketing is about connection and value. Connecting equals targeting the right buyers with regular systematic communication. The more GOOD communication with the RIGHT targets, the better the outcome. Value is like beauty. It is inevitably unavoidably better, faster or cheaper in the eyes of the beholder.

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Easy to understand. Not so easy to implement. I’m here to help.