There is an article in the recent MarketingProfs that is a great way to think about whether or not to do a marketing activity -- and therefore a great way to prioritize marketing activities with limited resources. Essentially you must conscsiously ask yourself or your team a set of questions to determine if any given marketing activity will be a credit to your brand 'checkbook', or debit.
The principle is brought from Starbucks. Here's a snapshot of the article:
Just as your personal checkbook has credits and debits, a brand checkbook has credits and debits in the form of brand credits and brand debits. "Brand credits" are business activities that enhance the reputation and perception people have of a brand, and "brand debits" are those that detract from the reputation and perception of the brand.
When faced with determining the appropriateness of marketing activities such as a promotion, sponsorship, program, or special event, the marketing department first determines whether the activity is a brand credit or debit.
To determine the positive impact (credit) or negative impact (debit) of a potential marketing activity, Starbucks marketers ask the following questions:
- Does the marketing activity respect the intelligence of Starbucks customers?
- Can Starbucks expertly deliver on all the promises made to customers in the proposed activity?
- Will Starbucks employees be excited and motivated by the activity?
- Will customers view the marketing activity as being clever, original, genuine, and authentic?
If the marketing department answered "yes" to three of these four questions, then the activity is considered a brand credit.
On the other hand, if Starbucks marketers answered "no" to more than one question, then the activity would be considered a brand debit. The Starbucks marketing department would then need to discuss the business importance of doing that brand debit activity.