Let me ask a question regarding your marketing initiatives that might be of a sensitive nature for some:  How much of what you have planned for in the way of campaigns, media channels, tradeshow activity, collateral, etc., is a holdover from last year and the year before and the year before that?

Now, how many of those activities are part of “status-quo” thinking – it’s just what we’ve always done? How many of these things are ineffectual?  In today’s world of measurement metrics, internal analysis and ROI’s, some people would say non-producing activities would not be tolerated by upper management. Well here’s a news flash…these initiatives not only show up year after year but they’re staunchly defended by…upper management.

So why do companies keep investing in these programs and activities? Well, the thinking goes:  “We’ve spent $ XX,XXX (and maybe another X) into this. Plus we’ve already invested XXXX hours into the program. We can’t stop now or we’ll have lost everything.” All that’s being done here is engaging in the sunk-cost fallacy that describes the tendency to throw good money after bad. Psychologically, the more you spend on something, the less you’re willing to let it go.  But truth be told, once your money is spent, it’s gone. It has no relevance. What counts in terms of getting where you want to be tomorrow, is what that investment is worth to your organization today. It’s important not to consider past costs when making planning decisions, but to make decisions based on future costs and benefits.

There’s something else that marketers do that’s almost a bigger of waste of money than investing in ineffective programs and it’s really the genesis for this blog. What I’m talking about is the total lack of effort that’s put into making programs resonate as well as they could.

We all know that well-planned, well-executed strategic marketing is a lot of work. But then, so is filing for bankruptcy, selling off your assets and shuttering the business – which is the alternative to putting in the required effort. That makes me wonder why companies bother to invest in marketing activities and then put nearly zero effort into executing them. The creative is boring; the strategy is half-baked; the lackluster results are acceptable. This is just throwing good money after bad!

I stumbled onto a great example of this while clicking through the online exhibitor’s list for an upcoming industrial B2B trade show that covers a huge range of industrial services and equipment.  Reading the self-authored company descriptions posted by each exhibitor,  I was shaking my head in disbelief.  Here are just two examples, and believe me, others were even less informative:

“Manufacturer & supplier of Cable/Wire Harness Assemblies, Power Supplies  & Fans with Value-Added Capabilities.”

“Precision CNC turning and machining. Design and manufacturer of custom rubber products.”

There were literally dozens of entries like these and they were all written by the companies themselves! And they were free! The more I read, the more dumbfounded I became. Unique selling proposition? Strategic positioning?  Differentiation? Okay, let’s shoot lower. Let’s try for just a coherent company description.  How is any potential buyer supposed to even understand what value these companies could offer to them from those descriptions?

Trade shows are no small financial and time investment. Consider the possible costs: exhibitor fees, booth purchase, collateral materials, promotional giveaway, travel, meals, and man-hours spent on show logistics and for staffing the booth.  So why then would any company that commits to a trade show deliberately and willfully flush that investment away with company descriptions like this:

“Extrusions – profiles large & small, tubing, rod, bar stock, co-extrusion, drilling and forming. Thermoforming. Pressure forming – deep draw, sheet thickness .030″ – .500″, high volume, long or short runs.”

This isn’t even a company description. It’s a list of processes, none of which are unique to this company! You may be thinking, “Rolf, you’re being too hard on these people. They’re doing the best they can.”  Yeah, …NO.

Here’s a company description from another exhibitor at the same show:

“Recognized as one of the largest & most reliable service bureaus in the country, [Company] offers clients high quality/low cost tooling & manufacturing. We offer full service to assist our clients from concept through production, and have nationwide locations to serve you.”

At least it’s coherent.  This probably took the company rep who (possibly, late at night in his/her hotel room) wrote it in all of about five minutes. Maybe the rep even copied it from the company brochure. The funny thing is that lazy marketers are often the first to wonder why their budgets and customers have disappeared.

Marketing is hard work. But that isn’t an excuse for not putting in your best effort.  Or calling on professionals who know how to weave words into dollars.

While the above examples were for a tradeshow, throwing good money after bad certainly applies to other types of marketing initiatives as well, from ads to email campaigns.  As a marketing firm ourselves, we don’t treat anything we do for our clients in a ho-hum fashion…because our clients deserve to get their money’s worth.  Which is a lot more than what many companies do for themselves.  Time to stop spending good money after bad.

I saw a video over the holidays and it got the better of me so much so that I have to say something because these types of videos just need to stop being created by “marketers.”

I’m talking about poorly conceived and produced online videos that we find on countless company websites and social media channels which are completely ineffectual.  You know the kind of video I’m talking about: it starts off looking like it was homemade and it never gets better; the on-camera ‘talent’ has none; it doesn’t know when to end; there’s an information overload going on which leads to boredom; no clear understanding of who the audience is; and most importantly, the “WOW factor” is completely hidden or missing.

Unfortunately, this is exactly what some companies have haphazardly slapped together in the name of “meaningful content video.”

As we all know, online video content has just exploded over the past couple of years and it’s going to keep getting bigger in the foreseeable future. For example, did you know….

1. Each day, over 100 MILLION American watch online videos, an increase of 43% since 2010.
2. About 46% of people say they’d be more likely to seek out information about a product or service after seeing it in an online video.
3. 70% of B2B marketers use some form of online video with their overall strategies.

Yet we still have too many companies that create and post videos which are visual train-wrecks that unfortunately their customers and prospective customers will see.  With that in mind, and so that the next video you develop has a chance to be all that it can be, let’s talk about what good videos have in common:

• Good videos contain real content
  • Good content should be engaging, relevant, and appropriate for the audience. Good content takes a stand. It has a voice, a point of view. It may be informative, useful, or funny but it always leaves you wanting more. Is the storytelling or narrative coherent and does it hold your attention? Does the content stay with you long after viewing it? Is the video like that of a woman’s skirt – short enough to be interesting but long enough to cover the subject?

• Good videos are truly interesting from the viewer’s perspective
  • Internet viewing has created a world of people with ADHD.  Viewers will click the second they lose interest, so you have to hold their attention on every frame. Your scripting has to be based entirely on the viewer’s wanting to know “what’s in it for me?”  I’ve written about outside-in thinking.  Here’s where it really comes into play.

• Good videos know who their audience is
  • Determine who you’re speaking to with the video. Are these new website visitors? Are they returning customers? What’s their mindset? How much do they know about your product or service already?  What do you want them to do next? What are their demographics?

• Good videos have a purpose and know where they’ll “live”
  • Prior to the video having been developed, company/agency folks have decided how they want to share the video given their communication plan and goals. Synergies between different online social media channels (Facebook, YouTube) and other uses (emails, blog posts, landing pages, registration pages and corporate websites) have been determined…as have offline uses. Shooting and editing a video only to then decide what to do with it then creates unnecessary messaging and expense issues.

• Good videos are leveraged
  • Good videos have relevant keywords incorporated into their descriptions and postings to insure they come up when searched.  Website or landing page URLs have been imbedded in the video for users to click (remember you WANT them to do something, right?).  The video is promoted through various means ranging from PR releases to e-newsletters, blogs, Twitter, Facebook, etc.

• Good videos have high production values and a consistent look/tone/feel
  • Cheap-looking productions imply cheaply products from the company.  There is a level of production value that really good videos simply don’t dip below.  The audio and camera work for good videos is such that one can easily understand what’s being said and view the video without feeling the need to click away due to poor audio or shaky camera work. On-camera talent is professional. Users can easily spot a poorly done video, and if your video is not well produced, it suggests that you do not value your product/service.  Also, a consistency of look and branding in your video to the rest of your marketing efforts is a must.

So whether you’re creating a testimonial, promotional, “how-to” or other type of video, the idea is to make sure that people find it interesting, worth spending the time to watch and that it leads to the desired next step. Repeated viewings of your video generally indicates a positive overall experience. Repeatedly having your video, or future videos, being ignored means, well, you know what that means.