Home > Talkies opinion > A new tax rises

A new tax rises

– “I don’t know” is expensive.

accountantMarketing budgets have never been so closely scrutinised.

Accountants hover, knives probing for bone; their decisions slicing expenditure that doesn’t generate immediate cash flow.

But the lust for budget cutting could end up costing companies more in the long run, as new friction, or tax, attaches to revenue generation.

When people ask me about PR payback I show them this quote:

“I don’t know who you are.
I don’t know your company.
I don’t know your company’s products.
I don’t know what your company stands for.
I don’t know your company’s customers.
I don’t know your company’s reputation.
Now, what was it you wanted to sell me?”

I spend most time eliminating each “I don’t know”. In my mind “I don’t know” is a form of tax, and the more I don’t knows that remain on the list the greater the tax burden.

However, with business decisions and cost management calibrated to ever-closer horizons, anything less than immediate return is commonly labelled a failure. Quite wrong. For example, a physiotherapist wouldn’t expect an immediate flurry of appointments at the outset of a PR programme, or even a buy-now advertising campaign. Instead, one would reasonably expect a gradual increase in patient bookings as people in your target market injure themselves and fondly recollect your story and make an appointment. Just because you see or hear great things about a physiotherapist that doesn’t get you grabbing for the phone.

Most B2B sales show similarly extended sales cycles – the requirement for a new accounting system might arise as infrequently as every seven years, and the selection process may take an additional six months. But when the time comes, you can be sure the company that has done the best job of eliminating I don’t knows in between times will be on the hot list.

PR isn’t about big bang and mostly focuses on addressing I don’t knows, so when the window of sales opportunity opens, your brand is in the frame. Smart companies act to avoid tax. It takes a long-term view and an understanding accountant.

  • Digg
  • del.icio.us
  • Facebook
  • StumbleUpon
  • Twitter
  1. No comments yet.
  1. No trackbacks yet.