“I don’t care what business you’re in, you have to communicate to your audience.”
April 22, 2020
When in business with Kerry Packer, Mark Bouris built his Wizard Home Loans business up to be sold for $500 million. A major part of the success of the business was its marketing approach.
Speaking with Peter Switzer, Bouris recounted how a simple conversation with Kerry Packer simplified the process of communicating to consumers.
“I went and saw this really fancy advertising agency, and they built this really fancy adverting scheme for us. We put it out on television, it cost me a fortune to produce.”
“Kerry grabbed me and he said to me, ‘Son scrap that whole advertising campaign. The only thing people are interested in is, what is your product, how much is it, and how do you get it (in other words how do you get in contact with me).’ If you take that same advice today, you have fantastic mediums to tell everyone what your product is, how much it is, and how they get it.”
“As business owners, we get caught up in our day to day stuff, in the grind of what we’re doing, and we make a whole lot of presumptions about what our customers think.”
“Really what we’ve got to do is step outside our shop, step outside our own life, go and have a look at what’s going on yourself. And work out what it is that I would actually want to know if I was a customer of mine.”
“That’s the bottom line for me.”
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