Trading Deadline Nears...

Did you know that the trading deadline is nearing?

July 31st is the deadline for any trades that you complete and want the player to be able to compete this year.

I know...you think I am confusing baseball with marketing. Actually, the same strategy should apply to your institution, too!

Hmmm, you are saying.

OK, here is my thought...

Major league baseball sets a deadline for teams to determine their organizational strengths and weaknesses and decide if they need to add/delete/or change their team structure.

The same concept should apply to your marketing strategies. The marketing plan and organizational strategic plan that was created for this year may be out of date or misaligned...certainly this year, considering the shift in the economy and fallout from the mortgage crisis.

If you have not done it yet...re-examine your marketing plan, strategies, and tactics for this year-to-date and the course of action planned for the remainder of the year. In all reality, this analysis should be done on a monthly basis, but the variables of today's economy call for extra vigilance and review...especially at the mid-year point.

There is still plenty of time to change tactics, reallocate budgets, and correlate goals to action production levels. However, this has to be done organization-wide and with a goal in mind...clarity of priorities, plans and actions for the remainder of the year.

You may decide to "trade" one strategy for another...or "cut" a tactic altogether. Neither is right or wrong...the "best" solution is one that that properly applies to your organization.

Take the time...now...to review your strategies, take offers on trade's and make sure your run for the pennant is reasonable and supportable.

Keep in mind...however, that similar to baseball, there can be "horrific" trading deadline deals. Ones that are simply TOO short-term in thought and trade the long-term impact for too little. A key reminder...change tactics before changing strategies. And if you do change strategies, give your new strategy time to develop and mature...

So...study your plans, review your progress, take an honest evaluation of your position and make the changes (or trades) necessary to position you and the institution for a prosperous remainder of 2008 and a better position as we begin to plan for 2009!!

Thoughts? Post a comment...we would love to hear from you and I think your fellow marketer would, too!

Cheers!

Bruce