A lot of people I meet are quick to complain about politicians using simplified ideas and generalizing too much. Yet, the same individuals fall for the exact type of ideas and strategies when it comes to business.
It turns out that business “gurus” and politicians are birds of a feather, employing the same strategies to communicate their messages. They boil down complex ideas into easily digestible pieces, then brand these proposals with catchy names.
As late as yesterday, I came across the ‘$5 rule,’ a pay-per-click advertising strategy propagated by a well-known marketing “guru”. The rule suggests that if a keyword doesn’t lead to a sale after spending $5, you should discard the keyword. It’s simple, it’s catchy, but it’s dangerously misleading. This rule, though straightforward, ignores key factors such as pricing, clicks, conversion rates, and bids.
The $5 rule’s simplicity and memorable name make it an easy trap for many.
So perhaps you should approach these simplified business strategies with the same critical eye you would use when evaluating political messages and ideas.