The Sunny Side of Madoff

Although he turned out to be a liar, cheat, thief,
con-artist, swindler and all around charlatan, Bernie Madoff does present an
impressive list of admirable qualities.

OK…let’s put aside for a moment the Ponzi scheme that
cheated wealthy individuals, charities, non-profits and a myriad of other
investors out of billions of dollars. 
Rather, focus on the fact that for decades Madoff successfully convinced
the best and brightest to put their trust (and cash) in his hands.

Here is my list of Madoff attributes that every corporate marketer
and sales representative should aspire to emulate:

1.  Get access to the
inner circle.  The number one rule in
sales is to connect with decision-makers who have money.  Madoff navigated his way into country clubs,
business groups, fundraisers and other professional settings where he
cultivated relationships with those with wealth and power.

2.  Create an
eco-system of champions.  It wasn’t
merely Madoff pushing his fund.  He was
able to build an extensive network of money managers and investment advisors
who directed their clients into his clutches. 
This channel strategy brought Madoff the scalability and reach needed to
fuel the Ponzi scheme’s thirst for new capital.

3.  Build a perception
of desirability.  This was the brilliance
of Madoff’s pitch.  A prospective client
was informed there was simply no opportunity for them to participate in the program
because it was in such high demand.  A
week or so later a call was placed to inform the target that Madoff would make
an exception just for them.  Of course,
they had to wire the money right away.

Before you express outrage, please understand that in no way
do I condone Madoff’s illegal actions or make light of the pain he caused his
investors.  His life in prison is well
deserved.

However, his deftness as a marketer and in sales should be
recognized.

Plus, my mom always taught me to look for the good in
everyone.  It has always been said Hitler
was a wonderful dancer (http://en.wikipedia.org/wiki/Springtime_for_Hitler),
right?

Marc Hausman is president/CEO of Strategic Communications Group, a public relations and social media consultancy based in Silver Spring, MD.  Read more at http://www.strategicguy.blogspot.com.