Marketing for Rainmakers

Without getting into the merits of the potential bailout of the not-so-Big Three automakers, from a pure rainmaking, marketing, and rational-thinking perspective, it is truly mind-boggling that all three of the supplicant CEOs flew to Washington today in private jets. This on the exact same day that GM ran a full-page ad highlighting its enterprise-wide commitment to reduce expenses and work smarter. The irony of this was not lost on the Congressional committee members, and it points out the major flaw with corporate America. Most high-level executives have lost all touch with reality. They believe they’re worth multi-million dollar salaries and even bigger bonuses — and don’t seem to care if the company under their stewardship succeeds or fails. Their paychecks are almost always guaranteed via employment contracts and golden parachutes.

The sad thing is that many CEOs were rainmakers in their younger days. They understood that perception was reality, and they cared about perception. They focused on the needs, concerns, and ideals of their clients and customers. They would not be satisfied unless their customers were satisfied. And they would never allow their own arrogance to take precedence over common sense.

While private jets can arguably serve a role for certain corporations in certain circumstances, using them for a hat-in-hand visit to our nation’s capitol is egregious.

Technorati Profile

In today’s post (http://www.typepad.com/t/trackback/2123/35817154), Seth Godin, one of the best marketing minds of our generation, loses his mind. He’s writing about presentations and the tendency for speakers to go on far too long, and he suggests that, “No audience member, in the history of presentations (written or live) has ever said, ‘it was exciting, useful and insightful but far too short’.”

Now I fully understand Seth’s point, and he is correct that most speakers abuse the privilege and fall victim to self-indulgence, spending more time entertaining themselves than the audience. But he is wrong to suggest that the best presenters cannot leave the audience begging for more. That’s what all of us should aspire to. Preparing and delivering presentations that are targeted with pinpoint precision, delivering them with enthusiasm, and striking a deep inner chord with the audience need not be a pipedream. Rather it results from an external focus on what’s important to our clients, rather than the onanistic blah-blahing that passes for corporate insight. That’s the rainmaker way.

Phil Fragasso

Technorati Profile

As the global economic meltdown continues, there is one potential bright spot — Apple. While Apple stock has been hit just as hard as most every other domestic and international equity (and is trading near its 52-week low), Jim Cramer and a lot of other Wall Street pundits have “strong buy” recommendations on the company. Why is that and what could it possibly have to do with rainmaker marketing?

The short answer is that Apple represents the Platonic ideal of corporate rainmaking. In an insightful article on CNBC.com (http://www.cnbc.com/id/27774130), Jim Goldman suggests that, “Apple may not be recession-averse, but recession-proof.” In a down economy like today’s, you can make the argument that shoppers will pare back their gift-giving and focus instead on “one big, splashy purchase.” So, yes, there may be a significant slowdown in the retail world, unless “you’re the one company offering what those consumers are looking for, for that one splashy purchase.” And that company could very well be Apple.

This is a classic rainmaker approach to the marketplace. Provide a quality product and a level of service unmatched by any competitor and the negative impact of down markets will be reduced and the impact of up markets will be intensified. If you truly give your clients and customers what they want in an irresistible package, they may cut their budgets but they’ll make sure to retain a line item just for you.
Phil Fragasso

Technorati Profile

As the 2008 presidential election draws to a close, I am haunted by one nagging question: “Will we ever have a rainmaker-style president?” And I’ll try to address this question without announcing my vote or getting into the politics of this highly political issue.

What bothers me most about this campaign is that both candidates, actually all four candidates counting Biden and Palin, make the mistake of talking too much about themselves, too much about their opponent, and way too little about their “clients” and “prospects.”

True rainmakers call attention to themselves by their character and actions, not by their words. When asked a question, they respond by answering it directly and honestly, not by changing the subject. They listen more than they talk. They focus on the needs of actual people, rather than creating cartoon-like composites. When asked, they will discuss their competitors — but it will be done with respect and with a focus on meaningful differences.

Rainmakers would much rather lose a sale (or a vote) than mislead or obfuscate. They spend time to deeply understand and appreciate the needs of their target market, and they accept a fiduciary-like responsibility to do the right thing for their clients. Saying what people want to hear rather than what they need to hear is anathema to rainmakers. Educating clients is far more valuable than placating them. The idea of promising one thing to win the client with no intention or possibility of delivering on that promise constitutes a one-way ticket to failure and disappointment. Rainmakers accept responsibility and accountability for their words and actions. They don’t hide behind clichés, they don’t trade insults and barbs, and they don’t pander.

Rainmakers are the true leaders of the business world and it’s my hope that one day they’ll also serve as the leaders of our federal, state, and local governments.

Phil Fragasso

Technorati Profile