Strategic Positioning Corporate Level Strategy Prospecting International Marketing Critical Things Defining Success Networking Professionals
The network marketing MLM home business is just one of the many businesses you can start and run out of the comfort of your own home. Network marketing, otherwise known as MLM or multi-level marketing, first emerged in the 1940s when a few companies recognized that their sales representatives and customers mostly comprised family members, friends, and relatives of other sales representatives, the reason being that these individuals received a discount on the products/services if they had connections in the company.
Network Marketing MLM Home Business Basics
And so, the basic MLM business model was born. Since then, it has developed to encompass thousands of businesses worldwide, with varying structures and compensation plans. But the one aspect that makes an MLM an MLM is that there is no middle distributorship in the sales of the products/services offered.
The products are sold strictly through independent distributors, not in stores or shops. The other aspect is that distributors are paid commissions on both the products/services that they sell and the members that they can bring into the company to act as part of their sales force.
The network marketing industry had suffered due to the emergence of Ponzi and pyramid schemes when network marketing was born. Ponzi and pyramid schemes are illegal operations that do not sell legitimate products or services.
Rather, they only pay members on recruiting other members, so there is no real value being offered to anyone. The FTC is quick to clamp down on Ponzi and pyramid schemes today. All new (and even long-term existing) MLM companies must go through rigorous scrutiny before they can be deemed legitimate in the eyes of the law.
There are several reasons that the network marketing MLM home business is so appealing. First, it requires a minor investment to get started. The distributor is then provided with varying levels (depending on the company) of marketing materials and support and direct access to the product or service being offered. This makes it extremely easy for anyone to get started on their own business.
The next big draw to network marketing is that it can eventually lead to residual income. As you move up through the organization, you sell more products and services and recruit more members into your sales team.
And you earn commissions and bonuses not only on the sales and recruits that you bring in but also on the sales and recruits that your team members bring in. This means that you are earning money by not doing any extra work. And this offers tremendous appeal. Each MLM company offers different compensation plans, so the amounts and structure of payouts will vary from company to company.
The network marketing MLM home business models is also praised by two of the most successful men–Donald Trump and Robert Kiyosaki.
Proven Tips About B2B Internet Marketing
Anyone who plans to sell goods or services to businesses and markets online must understand the difference between b2b internet marketing and selling directly to consumers. While some basic marketing principles are the same, some differences can sabotage your marketing efforts if not considered. The good news is that, in some ways, selling to businesses is easier than selling to consumers. Often, the profits to be made are much greater, especially in the beginning.
One of the biggest differences between b2b internet marketing and marketing to consumers (also called b2c marketing) is that you’re no longer trying to sell to a single person. Business purchasing isn’t just a group of people looking at your product or service simultaneously and then deciding. Whether to buy or not goes from one person to another, sometimes in an endless chain of command, and can take much time (and convincing).
When you’re selling something to a consumer, you’re dealing with one set of eyes and one person to convince. An important key in marketing to consumers is repetition; most won’t buy the first time.
However, once your items have been put in front of them multiple times appealingly, they’re more likely to buy. With b2b internet marketing, the same principle applies. However, this favorable impression must last down a long line of people who must decide. Getting the item or service in front of them many times is crucial with businesses, too.
Email marketing is one great way of keeping your products or services in front of them, but when b2b internet marketing with emails, you have to be even more careful than marketing to consumers.
Many people who receive an email, particularly one they’ve agreed to receive, will be more concerned with the discount product or service offered. What the item can do for them, then how professional and well-done the email is. This is less likely with a business.
Because the business may have its b2b internet marketing plan, they’re going to expect a certain level of professionalism in any emails or correspondence you send them. Misspellings, strange line breaks, broken images, and anything else that screams “amateur” or “careless” is likely to ensure that your message goes no farther down the line than the kiss of death for anything you’re trying to sell them.
Take extra care with your email marketing plan. Don’t just make them correct and tidy; make them dazzling and attractive. Your emails and correspondence need to look as good as anything coming from that company if you want to impress.
If you sell to businesses, you already know your target market very well. Be sure that all of your b2b internet marketing efforts are professional and focus not on you but on how you can fill their companies’ needs, and you’ll get your products noticed.
Huge Benefits of Business To Business Marketing
Business-to-business marketing has advantages over marketing to consumers that make marketing even easier. Business to business companies markets their products and services to businesses rather than consumers. Some of the most successful businesses only supply to other businesses.
This is one of the most lucrative business models possible today. It has proven to be especially profitable when the business is conducted online. Suppose you’re considering going into business providing products or services. In that case, you’ll want to look into operating a business-to-business company.
With online business-to-business operation and marketing, many of the expenses of running a traditional business are gone or reduced. This positively affects all the other aspects of running the company. Less expense means less time spent managing the money going out and more money for important things like business-to-business marketing and promotion.
No company will succeed without an advertising and promotion budget. And like many large, worldwide corporations have shown, the more money spent advertising, the more people become familiar with the brand. That breaks down into more customers and more profit.
A company that does its business chiefly online won’t need the storefront that a traditional business does. And the company that relies on business-to-business marketing wouldn’t benefit from a traditional storefront anyway. Since traditional customers won’t be coming in and out browsing goods or asking about services, the need for a traditional shop area is eliminated. This drops overhead costs dramatically. There’s no vast warehouse or building to pay heating, cooling, and lighting bills and no need for insurance to protect customers.
There’s also no need to pay a staff to man such a store, which eliminates many of the expenses of being an employer. An online company that chiefly exists through business-to-business marketing may still have employees and some expenses. However, the lack of a storefront will reduce the costs associated with managing employees.
Now, money that would have been spent on necessities like payroll and utilities can be the well-spent business-to-business marketing and increasing the customer base. The expense of promotion is also lessened with this business model because it’s easier to identify a target market. There’s not as much need to figure out exactly which consumed to market to as there would be with most consumer products.
With business-to-business marketing, what you’re offering to business automatically identifies your target markets for you. Suppose you’re selling general business products like paper or office supplies. In that case, your market is large and wide open, and you’d do best to find a particular angle to market your products to each specific industry. But if you choose a product or service that’s very specialized, your marketing research is simplified a great deal.
The internet is great for b2b marketing because of its word-of-mouth properties. While many of your customers will find you thanks to your business-to-business marketing and promotion, many more will go because of social netw
Corporate Internet Marketing Strategy-Internet Marketing Not As New As Some Belief
There is much attention being paid to the world of internet marketing, but it isn’t as new as some media outlets would like us to believe. Having a corporate internet marketing strategy is more important than ever. Not having one could cost your business much money. It’s easy to get confused with all the information floating around on the topic, but let’s try to clear some of it up so you can take advantage of all the internet offers you and your business.
“Why are you in business?”
“To make money!”
That’s all there is to it, right? After all, you wouldn’t be in business if you weren’t planning on making money. While that would be one reason you are business, it’s not what will make you money. Your customers don’t care about your desire to make money; if they did, they would give you money without you giving them anything in return. That doesn’t happen in the real world.
Your corporate internet marketing strategy has to be based on what your customers want, not what you want. To be more specific, your strategy needs to highlight the benefits to your customer (what they want), so you can generate higher profits (what you want). Before giving them what they want, you need to know who your ideal customers are and what they want.
The cool thing is that the internet is an ideal way to get your marketing message out there. It can be done for a relatively low investment compared to traditional advertising. Of course, you should also include traditional media in your marketing campaigns, but be sure they complement your online marketing and vice-versa.
Internet marketing covers everything you do online that could be even remotely associated with your business. A comment on a message board, a blog post, an update to your personal Facebook page, anything, anywhere will all add to the public perception of you and your business. That doesn’t mean you should be afraid to have an online presence, but it means that you should deliberate everything you say and do online.
There may have been a time when a business, any business, could gain a foothold in the market by simply having a website, but those days are long gone. However, suppose you don’t have a website and a full corporate internet marketing strategy.
In that case, you are losing ground to your competition. Speaking of competition, it has changed, too. It used to be that you knew who your competition was and was of the same relative size as your business. Today, your competition could be a single person with little more than an internet connection.
It’s debatable whether there was ever a time when you didn’t need an online strategy. However, you now need a corporate internet marketing strategy if you wish to have a successful business.
Strategic Positioning Corporate Level Strategy Prospecting International Marketing Critical Things Defining Success Networking Professionals
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