Principled Profit: Marketing That Puts People First Paperback – Jun 2003
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From Publishers Weekly
Marketing consultant Horowitz (Grassroots Marketing: Getting Noticed in a Noisy World) offers the latest addition to the deluge of morally-centered business tomes. In one way, it's an overturning of traditional corporate wisdom-see your competitors as your allies, not your adversaries, Horowitz suggests-but it's also something we've been hearing an awful lot of lately: build meaningful relationships with your customers, view your employees as your partners and so on. Nevertheless, the arguments are all sound and illustrated with the customer-obsessed success stories of ventures like Saturn and Nordstrom. Horowitz is at his best when displaying his canny understanding of the media world, advising how to fit your business's message with the media's need to produce timely, relevant stories. But it also feels like the author is trying to riff on too many ideas, as he skips from thoughts on bartering to copywriting to investing. If readers don't mind following the occasionally meandering structure, they'll find this to be a bountiful source of marketing tips.
Copyright 2003 Reed Business Information, Inc.
Top Customer Reviews
Horowitz not only practices what he preaches, he lives it. With true examples, he shows how the system works for just about every business situation imaginable. He shows that even helping your competition can help you help your own business.
Perhaps "principled profit" should be made the new mantra of business. Practicing Principled Profit bodes well for business, as well as in our personal lives. What a wonderful world this could be!
Well recommended for anyone, not just business people, looking to make a positive mark in this world.
Kitty Werner, author, The Savvy Woman's Guide to Owning a Home; How to Care For, Maintain and Improve Your Home, published by RSBPress.
The very first sentence, on the very first page, was sheer delight. As it happened, that page (and the five pages following it) contained endorsements and blurbs by the very well-known in the marketing field... and here's how the author introduced them: "Many of these blurbs are shortened for space reasons... The complete versions are posted at <[...]>." My goodness! How many times have I, as a movie and book consumer, been deceived by three words taken completely out of context of a review? Not this time! This first sentence promised an entirely new approach.
The book includes practical advice ("Run your business in alignment with your core values; don't try to be something you're not") as well as practical statistics (i.e. "Gay and lesbian purchasing power is about $400 billion"), both of which a business owner can certainly use. While the practical advice may sometimes seem simple, in reality it is not. Using the example above, how many times, purely in a social setting in which literally nothing is at stake, are people tempted to try to be something they're not? How much more so when one's livelihood is on the line? The author's reminder is both apt and profound, and something to be taped to the top of one's computer monitor.
The author's marketing strategy is also both strong and logical. "I create marketing that has the prospect calling me!" is a typical example.Read more ›
In "Principled Profit," Shel Horowitz says that nice guys don't finish last. Honesty, integrity and quality are keys to building a successful business with repeat customers. According to Shel, "Too many businesses see marketing as a weapon of war. They think that to succeed, they have to climb over their competitors, fool their customers, and herd their employees into constricted conformity. I think that's just plain wrong."
According to Shel, you can create value in your own business by creating value for others. Form partnerships with customers, employees, suppliers and even your competitors. You will succeed by helping others to succeed. In an atmosphere of trust and cooperation, they will become a marketing force for you, spreading the word to others who will want to do business with you.
You can put the ideas in "Principled Profit" to work for you by only taking on customers you can serve well, networking and forming alliances with complementary companies and competitors, being honest in your copywriting and advertising, and treating those you deal with the way you would like to be treated.
Shel Horowitz is a highly-respected copywriter and marketing expert, and both the "how-to" and the philosophy in this book make it clear why.
Horowitz says companies should follow the principles of quality, honesty, and integrity. He writes, "Create value for others in everything you do. ... You help yourself best when you're helping others."
"Principled Profit" tells us that many years ago, Arthur Anderson, an accountant struggling to build a new accounting firm, was pressured by a client to overlook accounting irregularities. Even though Anderson faced a cash-flow crunch due to an upcoming payroll, he refused to compromise his integrity. He'd rather lose the client than misrepresent a company's financial statements to mislead investors.
Seventy years later, corporate greed and the willingness to turn a blind eye to similar accounting irregularities at Enron, led to the complete downfall of the company Arthur Anderson founded.
Horowitz says companies that try to duck their responsibilities, hide their mistakes, and mislead consumers are eventually punished. Companies that market unethically and fail to deliver quality are in a perpetual hunt for new customers, have little repeat business, and have few referrals.
Quoting a Nortel study, Horowitz writes: "a mere 5% increase in customer retention can translate to as much as a 75% increase in profitability." We learn it's about five times more expensive to find a new customer than to keep an existing one.
Horowitz says customer acquisition costs vary depending upon the product. For example, we learn that amazon.Read more ›
Most recent customer reviews
This is the sales and marketing book for the folks that don't want to feel sleazy about the whole process. Read morePublished on Feb. 1 2004 by Marion Gropen
This book should be on the shelf of everyone seeking to do business from the *smallest* small business to the largest companies in the country. Read morePublished on Nov. 2 2003
Horowitz has done all the legwork so you don't have to! Everyone in business needs this book, especially if you never had the opportunity to take a marketing course in college. Read morePublished on Oct. 19 2003 by Marisa D'vari, DWS
Books on ethical marketing, like this one, are sorely needed in today's world. Shel Horowitz's "Principled Profit" is a winner--and one of the best books on the topic of... Read morePublished on Sept. 15 2003 by Fern Reiss
This is a refreshing, wonderful and practical book. Shel Horowitz tells you that integrity is not naiveté? Read morePublished on Aug. 22 2003 by Jeffrey Eisenberg
This is a refreshing, wonderful and practical book. Shel Horowitz tells you that integrity is not naiveté and that you can stand up for what you believe in and still make a... Read morePublished on Aug. 22 2003 by Jeffrey Eisenberg
We've all been exposed to the adversarial salesperson; the one who only cares about making the sale at any expense. Read morePublished on July 14 2003 by Harold McFarland
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