There’s a term within the marketing industry -”other people’s money.”

This segment of the business community is the stated target audience of many marketers. It simply refers to businesses who’s decision maker is not spending their own money. It is the money of the company they work for. They are an employee NOT the owner. There is a huge difference in attitude. Some good, some bad.

From a brand perspective the best situation is OPM (other people’s money). These people are quicker to spend the necessary funds to get the job done properly. They are not guided by an emotional attachment to the money. They are focused entirely on results. An owner’s focus is on the money.

From a Sales perspective, these people like to deal with the owner, (TM or Their Money) because the owner answers to no one. They are spending their own money. They ARE the decision maker. Sales is also better understood by an owner, because they view themselves as the firm’s greatest salesperson. Marketing is alien to them, and it is typically the first thing cut during tough times. It all seems like so much air to them.

But top businesses understand that a strong brand is exactly why your company can weather tough times. It is what separates you from the other guy. To ignore its potential will hinder sales and cost you more to promote. Taking emotional decisions out of your marketing equation will benefit your brand immediately.

Do you prefer TM’s or OPM’s? Do you find any difference in attitude between the two?