Marketing SCENE: "The Single Most Powerful Word in Marketing"
Feb 2, 2012
The Single Most Powerful Word in Marketing
By KEVIN KRUSE Entrepreneur, speaker, NY Times bestselling author, THE KRUSE GROUP | January 31, 2012
Can a single word generate a 7x increase in sales in one year?
It was in 2004 when I met a pharmaceutical brand director (I’ll call him Dave) who was credited with turning around the sales of a new cholesterol drug. His company had launched the product with high expectations, but in its first year sales totaled a disappointing $129 million.
Dave came onboard, rewrote the drug’s positioning statement, ensured that the new message was reflected in the marketing material and sales pitch and, voila, the next year’s sales were a whopping $908 million. Just like that, the very same product had a seven fold increase in sales—in just one year. Within six years, the drug’s annual sales would exceed $9 billion.
One day I mustered up the nerve to ask him about it. What was his secret?
Just like the cowboy, Curly, in City Slickers, he lifted up one finger, leaned over and said, “This is the secret. Don’t be the best. Be the only. Let everyone know when and why you are the only choice. The magic word is only.”
The magic word is only. Huh?
Read the rest here from openforum.com.