Why You Should Take A Multi Channel Approach To Your Marketing

For your business to be successful in today’s market, you have to be different to the great mass of your competitors.

  • Different in what you offer
  • Different in how you position yourself
  • Different in your thinking
  • Different in the way you market your business

Most businesses operate within a straight jacket. They believe they need to market themselves in the same way that everyone else in their profession markets themselves. So all the plumbers advertise in the yellow pages, all the hairdressers advertise in the local paper, all the double glazing companies use direct marketing etc.

Increase the Ways You Market Your Business

If you are similar to most businesses, you probably use just one or two primary ways to market and grow your business. Perhaps it’s advertising. Perhaps it’s referrals, or direct mail. The fact is that using only one or two marketing approaches is seriously limiting the amount of business you generate.

What would happen if over the next few months you doubled that to say four primary ways of marketing? Then, over the next few months you were to double it again, so that you were using up to 8 different marketing channels?

I’ll tell you what would happen. You’ll see remarkable growth in your business. You could potentially grow by 25% or perhaps even more.

Those business owners who decide to make marketing their top priority are the ones who dramatically outperform their competitors.

Your marketing channels don’t need to be complicated or even expensive. There are lots of ways that you can get your messages in front of prospective customers simply and cheaply.

Have a look at this list of ten marketing channels. If you’re serious about growing your business, pick at least two that you’re either not doing and make a commitment to add them to your marketing mix in the coming months.

Direct Mail

Internet Marketing

Email Marketing

Advertising

Telephone Marketing

Direct Sales

Strategic Alliances

Up-selling existing customers/clients

Referral Marketing

PR

Why Should You Use A Multi Channel Approach?

There are a number of reasons:

  1. Different people like to receive their information in different ways. Some might like to get emails, others to receive letters while someone else might like to read information from a newspaper.
  2. The thing is you don’t know who likes what.
  3. If you’re only using one channel and it stops working for you, it could leave you with no route for generating new business, which could have disastrous consequences for you.
  4. The different channels should work synergistically together so each channel backs up and reinforces the others, so the whole becomes greater than the sum of the parts.

So take a look at your marketing and the channels you use currently and then identify what other routes you could be using. The last piece of the jigsaw will then be to commit to action.

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.

Are You an Internet Marketing Genius?

Not many people are, so it shouldn’t be an embarrassment saying that you are not.

Internet marketing can be hard and even confusing. At least, it seems to be for the novice who just wants to get as many people as possible to see their website.

So what about internet marketing do most people find difficult?

Understanding how it has changed in the last decade. Traditional marketing used to be a relatively simple process. Maybe some mailers to people around town, a small space in the local Yellow pages, maybe even a spot on local radio. All of that has changed with the internet boom. Now you can market globally… if you understand how. Sure, it can make your business visible to a much larger audience, but how?

Making the best to use your time. Most small business people wear multiple hats. As a comparison, internet marketing is the cheap baseball cap compared to the expensive fedora of trying to manage the business. Internet marketing seems to take up way too much time for the tangible/measurable benefits it brings.

Spending the money. Marketing is just one of many costs, but because modern internet marketing is completed on so many fronts, it is difficult to know where the money is going. Keeping track of most expenses is easy because you have a direct relationship. But, marketing costs seem so ethereal.

Determining what is effective. In traditional marketing, you can do studies to determine exactly (or at least close to exactly) how effective your marketing dollars were. There was more of a direct link between marketing and sales. Now it is seems like it is very difficult to tell.
What is the answer to this dilemma? You know you have to market in order to be seen by as many people as possible.

So to get the most out of your marketing dollar, you can take one of two actions. Let’s look at them.

#1. Learn How to do Internet Marketing Yourself (effectively)

Computers are as necessary to business these days as buggy whips were at one time. Of course, the buggy whip manufacturers either adapted or they went the way of large wooden sailing ships. It is possible to find some of each in museums these days, but they aren’t in use anymore.

If you are hoping that the same happens to computers and the internet, you are probably also betting your business on a coin at the wishing well. Neither are a good bet.

So, computers are here to stay and you need to learn how to market using one. You know your business won’t grow itself, but learning a new task when your time is already precious is not efficient. But, internet marketing is necessary.

You could take one of the online courses, spend time just reading as much information as possible, or you could take the second alternative (at this point I am going to say that it is the better of the two).

#2. Outsource Your Internet Marketing

You have just reached a milestone and you want to show your employees how much you appreciate them. A party sounds like a good idea, something that they will remember for a long time. Something that will motivate them when they are doing their jobs tomorrow. What do you do?

Well, if you’re smart, you let an expert take over. You know what you’re good at and it isn’t planning parties (unless you’re an event planner or caterer, then think of a different example). You call the local Chucky Cheese (or other favorite venue) and let them do the planning.

Looking at this example, why would you then believe that you can be an effective internet marketer when it’s not your specialty?

Some would have you believe that internet marketing is as simple as putting up a Facebook page, sending out a few Tweets and writing something in your websites blog every two or three weeks. If that was true, why aren’t the orders flowing in?

Effective internet marketing is complex. You need to understand how to reach people using modern technologies and you need to understand the possible benefits of many different resources.

Why would you try to tackle such a complex system without some type of help? It would be insane.

Outsourcing works for companies in need of a service that is better done by someone else. For example, many small businesses turn to someone else for such services as human resources, payroll, web design and, yes, internet marketing. Because these are all specialized services, small business owners understand that they actually save money while outsourcing some aspects of their business.

Time is just too valuable!

You can find a company that specializes in internet marketing which could include handling your social media marketing, promoting your blog, etc. These companies have years of experience, keep up with changes that are always occurring in internet marketing and use proven marketing strategies to help their clients succeed.

In addition, just think of that extra time you would have on your hands if you didn’t have to do these tasks yourself and could concentrate on other important areas in your small business. Yes, it costs money to hire someone to handle your internet marketing, but remember… Time = Money.

Outsourcing may seem like something that large businesses can afford to do, but they have the money to have in-house departments. It pays for a small business to think creatively when they cannot afford to provide internet marketing services for themselves.

The original question was “Are you an internet marketing genius?” If not, then outsourcing your internet marketing chores may be the best way to go!