Libey Channels Churchill at Merit Co-Op
"Invest in prospecting and never, never, never, never give up," said catalog investment adviser Donald R. Libey, co-founder of Libey-Concordia, Philadelphia, as he mixed direct marketing sentiment with the words of Winston Churchill.
Libey said Churchill's seven strategic points could easily be applied to the direct marketing industry: take the long view, look at foundation strengths, know your resources, learn to respond, know your numbers, make the right predictions and make investments.
Libey elaborated on the point of direct marketing strengths, saying catalogers can grow and expand through five main strategies: product strategy, customer penetration, market expansion, international expansion and acquisition.
According to Libey, direct marketers who succeed and grow do so by forging ahead when others may be pulling back.
"When you reduce prospecting and mailing you lose momentum," he said.