Is Network Marketing Success Luck or Skill?

Network marketing otherwise known as multi-level marketing (MLM) is one of the fastest growing yet most misunderstood methods of moving products in use today. It has been in existence since 1960 starting from the United States of America. The first network marketing company that started in history is known as AMWAY which is the short form for American Way. Presently Amway is quoted on the stock exchange and their annual sales turnover is in excess of $200 billion. Certain people see this industry as a resort for persons who could not get a place in the traditional corporate business world i.e the white-collar job. But network marketing just like every other product/service distribution model is an honorable means of livelihood and business model. What is network marketing? It is important you understand what network marketing is so that you can correct the negative uninformed knowledge that is planted in the minds of so many people who were listening to those who could not wait to understand how this industry works before they quit in their network marketing business. Let us start from the basic. Marketing simply means moving a product or service from manufacturer or provider to the consumer. Network marketing refers to the system of compensation provided to those persons who are causing the products to move or the service to be provided. Multi-level marketing or network marketing means more than one (network) level.

There are only three basic methods of moving products. The first is wholesale/retailing model. This is the traditional distribution model which uses the advertisement media and wholesaler to move their products. It is the most common model but it is aimed to enrich the already rich wholesalers and advertisement agencies. The second is direct Sales. This just like network marketing is a model where the manufacturer or service provider sells the product direct to the consumer. But sales instead of sharing are emphasized. The third is network marketing. This is a model where the manufacturer or service provider offers their products and services direct to the consumer at the cost price and also pay them compensation for buying their products/services and at the same time for sharing the products/services with their friends, associates and relations.

Most objections that people have about getting into network marketing are due to not realizing the difference between network marketing and direct sales method of marketing. Network marketing does not necessary mean door-to-door selling of products but sharing of valuable products and services. What I mean by this is that you use the product which is of more quality than their rival in the market and at the same time share same with others. (Mostly family, associate and friends)The most significant difference between MLM and direct sales is that you are in business for yourself. But in direct sales you are not for yourself but for the company you are representing. Being in business for yourself, you are buying the products wholesale from the company you are representing. This means that you can (and should) use these products for your own consumption. Note that many people get involved in a company at first for this reason alone, to buy wholesale. And many of those will get serious in building a business along the line. Since you are buying your products at wholesale, you can, if you wish to, sell those products at retail band make a profit. The most common misunderstanding about MLM is the notion that you have to sell retail to be successful. The most important point is that you should let your sales come as the natural result of building the organization. More people fail than succeed by trying to do it the other way around, i.e they try to build the organization by emphasizing selling.

The word selling triggers negative thoughts in the minds of about 95% of the people. In MLM you don’t need to sell the products in the traditional sense of the word. However, PRODUCT DOES HAVE TO MOVE or nobody gets paid. I define selling as calling on strangers and trying to sell them something they may neither need nor want. Again, product has to move or nobody gets paid! To understand this, I will adopt Metcalfe’s Law which states that a network’s economic value equals to number of users squared. (Robert Metcalfe is one of the people credited for creating the ethernet, the earliest form of internet) Stating Metcalfe’s Law in simpler terms, if there exist just one telephone, that single telephone really has no economic value. The moment there are two telephones, according to this law, the economic value of the phone network is now squared. That is, the economic value of the network would go from zero to two squared which is four. Add a third phone and the economic value of the network is now nine. In other words, the economic value of network goes up exponentially, not numerically. Similarly, in MLM when you build an organization, you are building a network through which you can channel your products. Retailing is the foundation of network marketing. Sales in MLM come from members sharing with their friends, neighbors and relative. They never have to talk to strangers but what they do is to consciously make more friends and in share their products with these friends.

Legal Marketing Tips From a Divorce Lawyer

A Divorce Lawyer’s Marketing Journey to Build My Law Practice

During the past few years, I have had a lot of visibility resulting from my marketing efforts. Other attorneys continuously ask me about my marketing so I thought I’d share some thoughts. I have been immersed in the legal world my entire life. I have practiced law in Illinois since 1984, and grew up surrounded by legal talk, as my father was also an attorney. This has allowed me to observe the evolution of the legal field throughout my lifetime.

History of Legal Advertising

As many attorneys are aware, previously, legal advertising was generally prohibited. This did not change until 1977, well after advertising became common practice in most other fields, when the U.S. Supreme Court ruled on lawyers’ right to advertise their services in the controversial case of

Bates v. State Bar of Arizona (433 U.S. 350). As a result, the tradition against legal advertising was rejected as an antiquated rule of etiquette. Thus began the opportunity for attorneys to grow their practices through marketing.

My Journey Begins

Although legal marketing previously provoked controversy, it has been an important key to my success as a lawyer. I have always marketed my practice. For the majority of my career, I concentrated on traditional methods such as Yellow Page advertising (pre-internet) and networking. As my experience grew, I added peer-rated credentials to my resume and joined different organizations. Fast forward to 2010, when my marketing guru, who also happens to be my wife, expanded her business into the growing field of social media. I jumped at the opportunity to be her online and social media test case. We developed a marketing plan including all the traditional marketing techniques plus newly burgeoning online marketing strategies.

We started with a short list of 13 tasks, and as those were completed, we added many more. Over the past four years, marketing has fascinated me. My marketing list has become an ever-evolving ‘to do’ list and we are always tweaking my marketing plan. We have been especially pleased by the Internet and social media campaigns’ successes. For those interested in starting or building upon a marketing campaign, here are some insights I have gained over the years. Please keep in mind that I am not a marketing professional, just a lawyer like you trying to build my practice.

What are the most important elements of marketing?

Consistency and follow-up are the most important aspects of marketing. You can have all of the know-how, a hefty budget, the best contacts and technical staff; yet, your marketing efforts will not result in success without consistency and follow-up. I have spoken with attorneys who tell me they are going to start their online marketing with blogs posts. They lay their foundation – build a website, write a few blogs posts – but too often, after several months, begin to neglect their page. Likewise, an empty Twitter account, LinkedIn or Facebook fan page is equally useless. Additionally, people often attend networking events, make new contacts, but fail to follow-up. Continuous activity is necessary to achieve your goals.

What types of marketing do I use?

I break my marketing down into two different, but equally relevant, categories: traditional and internet marketing.

Traditional marketing

For me, traditional marketing consists of networking and making myself visible. I think this builds the strongest and longest-lasting referrals. My ultimate goal is to build an extensive network of relationships so that people call me directly for my services or refer clients to me. Additionally, I recognize the importance of being a resource to others. In the networking world, the givers get the most back. For others, traditional marketing may include newspaper ads, speaking engagements, direct mail, television, radio and even billboards.

Internet marketing

The objective of internet marketing is to make my name a prominent presence when people search online for help with the services I provide. My goal is for my web presence to effectively convey who I am and how I can help people, thus influencing people to contact me and ultimately hire me.

Who has time for marketing?

I understand that lawyers need to spend the majority of their hours practicing law. Networking takes a lot of time so you have to marshal your efforts in order to reap the most benefits with the least amount of time. Here are some networking suggestions:

· Be strategic; identify the best people to network with. Read Malcolm Gladwell’s book, The Tipping Point.

· Set and track goals when meeting people or joining networking groups.

· Take time to develop relationships. Always remember that quality, not quantity, is important.

· Be a good listener and ask questions. Find out how you can help that person, whether it is referring business, making an introduction or sending a relevant article.

· Always follow-up and deliver what you promise.

Where do I start my internet campaign?

You can build your online presence through search engine optimization (SEO) and social media. SEO gets your website or web-page noticed by various search engines. Social media uses internet platforms for individuals and groups to share, co-create, and discuss. Social media marketing involves using internet forums, blogs, social networks like Facebook and LinkedIn, podcasts, video and more to build your online presence, identity, relationships and reputation.

What to keep in mind while marketing

Marketing helps bring potential clients into your office to hire you. Satisfied clients bring more clients, and this remains one of the best ways to grow your practice. Thus, it is both good business and good marketing to build solid relationships with your clients. Tips include:

How to Make a Big, Nasty Pile of Cash Using Direct Marketing and Information Products

If you are looking for a way out of the rat race, and you want to be able to work from anywhere in the world, then this is the article for you. Using a powerful one-two punch of direct marketing and information products, you can build a large, international business that can make you more money than your day job ever did. Read on to find out more.

Information products are basically just answers, or a solution to a burning problem that the customer is having. The closer you come to an effortless, affordable solution, the more likely you will close the sale. Information products come in many forms. You can have actual printed books, DVDs, CDs, downloadable audio, or downloaded text and video. You can also develop packages of materials, create courses and coaching programs. Anything you can do to create a program that will hold the customer’s hand and show them exactly what to do, will bring you a ton of money.

Use your direct marketing skills to bring in the customers. Use sales letters, classified advertising, email campaigns, and referral marketing. It’s critical that you pre-qualify your customers first in order to make sure that they are part of the niche that you are marketing towards. You don’t want to have any wasted effort when spending a lot of time on a marketing campaign. The hungry crowd is the key.

Once you have begun to develop a list on your own, it’s much smoother sailing. You will already know what your customers want, and you can develop products and services to fill their needs. Keep feeding your hungry market with periodic direct marketing campaigns and you will have a winner.

Not every product you create will bring in a lot of money. Out of ten products you make, four may be failures, two may be total successes, and the middle four will just bring in a little money. That is why the information product game is also a numbers game. In order to create an information product empire, you need to branch out into a lot of different niches. You need to create many products and hen have your customers vote. Drop your losers and heavily market the winners. When you find a product that is a super success, then you should keep expounding on that theme. Create other products and workbooks that are supplemental material that you can sell along with your flagship product.