The Fix: A How-to Guide for Breaking Bad Habits That May Well Wind Up Killing Your Business.
June 10, 2015
"The drugs that businesses are addicted to are discounts, coupons, BOGOs, off-price flyers, free-with-purchase offers... the list of ways to get that short-term sales high goes on. Too many good marketers are engaging in bad, self-defeating, costly behavior, with an over-reliance on incentives, and all the accompanying mass advertising required to promote them. If you have to continuously discount your product or service, or scream to the largest possible audience in order to get people to notice you, and to care enough about you to buy—then your business isn't healthy. Either you're offering goods or services people don't really want, or your brand is failing to demonstrate a compelling value proposition that meets consumer expectations for your category. Brand leaders across North America have become overly fixated on dealing with the symptoms of their pain, rather than addressing the core issues that cause them to have to resort to bribery just to get people to buy. And the proliferation of incentives and advertising has become so bad that many businesses are now overdosing on these short-term stimulants."