Why you need a business strategy.

“Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.”  -Sun Tzu

 

My failures mostly come in the form of a sucker punch I didn’t anticipate.  It’s easy to get lulled into a false sense of security when everything is going well.

Sailing as a young kid my dad always used to say “Keep an eye out for the freak waves.  They’re the boat killers.”  It’s funny though that even though I learned to keep my head up it was only once I got into business that I realized that the adage applies in every phase of life.

 

How then, do you develop a business or marketing strategy?  I’m not the authority, everyone has their own method.  I will however share some points that worked for me.

  1. Understand who your customers are.
  2. Understand your competitors
  3. Figure out what makes your product different and unique
  4. Identify the technologies or products that can kill your business
  5. Look for weaknesses in your competitors marketing, product and business.
  6. Figure out how you’re going to tell your customers why they need to buy from you.

Of course there’s tons more to say on each one the points above, but you get the idea.  Figure out who you want to sell to, why you’re better than your competition, what you can offer that your competitor can and how long you’ve got before you get disrupted.

 

 

The $11.9 Million Deceptive Marketing Judgement

Sometimes Affiliate Marketers can step too close to the line, or just blatantly stomp all over it.  In South Africa we have the Advertising Standards Authority, while the US has the Federal Trade Commission.  They  impose HEFTY fines for transgressions.

I doubt LeadClick Media would survive this…..

“A U.S. district court has ruled that LeadClick Media, an affiliate marketing network, and its parent company, CoreLogic, Inc., must turn over $11.9 million in ill-gotten gains they received from a deceptive marketing scheme that sold purported weight-loss products.

In granting the FTC’s request for summary judgment, the court ruled that LeadClick was responsible for the false claims made by affiliate marketers it recruited on behalf of LeanSpa, LLC, a company that sold acai berry and “colon cleanse” weight-loss products. According to the FTC’s complaint, LeanSpa used a “free trial” ploy to enroll consumers into its recurring purchase program that cost $79.99 a month and that was difficult to cancel.”

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