Thursday, April 21, 2011
The Old Rules of Marketing Are Dead: 6 New Rules - Review
Timothy R. Pearson writes to companies and individuals who are fixated on the marketing rules of the past. He writes persuasively and effectively about how anyone can reinvent their brand for the new economy that we live in. It is addressed to larger companies mainly, but its useful for small businesses and individuals as well.
What are the 6 New Rules?
Rule One: The Core is Everything. The first part of the book helps to focus attention on what really matters, what the essence of the brand is. Very good advice here on how to emphasize points of differentiation in your field. Many businesses skip this crucial step, but without knowing your essence, you have nothing to build on.
Rule Two: You Have Nothing Without the Foundation. Guard your reputation carefully. Recognize that marketing should be defensive and offensive strategy, and use the tools for both. This section also has a great chapter on the power of a good logo design and why it is important (Principle #7).
Rule Three: There Are Many Choices but Only One Customer. This section focuses on your customer's perceptions of your strategy. It is the core of the book, and the most helpful section. The chapter on why you should measure all marketing choices, and how to do implement it, is worth the price of the book. Marketing without measurement is a waste of money. Too many people focus on marketing as an art rather than a science, but for a good business it is both.
Rule Four: Do the Right Things for the Right Reasons. Some good information here about social media's role in the new economy, but some of the other principles only apply to larger companies.
Rule Five: Infrastructure Is More than Just Pipes. Very good discussion on technology as the enabler of reinvention in the Principle #21 chapter.
Rule Six: Leadership Isn't a Noun, It's a Verb. Great conclusion. The author wraps up his thoughts on marketing and makes the case that marketing should be the leader for all areas of business, welcoming the changes and the accountability that is now crucial in today's marketplace.
I thought that some of the principles under each rule were forced and did not tie together well and that a few were only applicable to larger companies. I would have liked to see more hands-on advice as well, though the principles should point you in the right direction.
All in all, a good book, and a recommended read for any business (or individual) looking to reinvent their brand.
Other Business Book Reviews:
The Four-Hour Workweek
One Simple Idea