What Rainmakers Can Learn From Apple
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
