Eliminating Waste in Business: Run Lean, Boost Profitability

Marketing

The Enormous Black Hole

I know half the money I spend on advertising is wasted; the problem is, I don’t know what half.

—John Wanamaker

We’ll cut right to the chase in this chapter, and you are not going to like the news. As a college marketing professor, I have dealt with the marketing waste category my entire career. How do you get the best ROI from your sales and marketing efforts? How do you figure out who your customer is? How do you target/reach your customer? The list continues. Companies often pick the product they want to sell (not necessarily what the customer wants) and think that if they market/advertise the heck out of ...