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Posts tagged marketing
Multi-level Marketing (MLM)
Dec 24th
I’m sure by now you have at least seen the term MLM (or multi-level marketing) somewhere. But, do you really know what it is, or if you can make money in such a system? Many MLM systems are dangerously close to being nothing more than pyramid schemes. In a Multi-level Marketing program, you make money not just from your sales, but also from the sales of recruits you have brought into the system under you in a pyramid type structure. Many pyramid schemes try to make their systems appear legitimate by presenting them as an MLM system.
I’m sure that there are many legitimate MLM systems around where you could make some money. But, sadly, the largest percentage of them really offer you very little hope of making any sort of substantial income at all. They will fill your head with hype with evangelical fervency and promise you the moon. Most, will also of course show you many ‘questionable’ testimonials from happy customers who thank god that they joined this system. The sad truth of the matter though, is that most of them are just a load of rubbish. My best advice to you is, if you are seriously considering joining an MLM, do some serious research up front. Do yourself a favour and find out everything you can about the company and its members. Do internet searches and see how many dissatisfied or disgruntled members there might be. Try not to pay too much attention to glowing testimonials and other pitch page type reviews which are most likely just written by members trying desperately to get more recruits in under their name.
Guerrilla Marketing
Nov 30th
The term “Guerrilla Marketing” was first coined and used by Conrad Levinson in his 1984 book of the same title. Since that time, the word has become quite popular and is used in several books on marketing. The primary concept of Guerrilla Marketing is that instead of relying on a large advertising budget for brute force advertising, the marketer should invest more heavily in time, energy and the use of imagination in marketing products. Guerrilla marketing campaigns usually target consumers in unconventional and unexpected ways and in unexpected places.
Perhaps a simple example can do more to explain the process. Let’s suppose I made a large banner ad for display on the internet, all it says on the ad is ‘How To Kill Your Pet’. Now of course such an ad would attract attention, and would also probably cause quite a bit of controversy. But wouldn’t you be interested in clicking the ad to find out more somehow? When you do, it would direct you to the actual site where your question would be answered.. ‘You could kill your pet if you’re not using any of our large selection of pet medical and health foods and supplies’. This is just a basic example of the concept, there is a lot more to it than this of course.
According to Levinson, the following principles provide the foundation of guerrilla marketing:
• Guerrilla Marketing is specifically geared for the small business and entrepreneur.
• It should be based on human psychology instead of experience, judgment, and guesswork.
• Instead of money, the primary investments of marketing should be time, energy, and imagination.
• The primary statistic to measure your business is the amount of profits, not sales.
• The marketer should also concentrate on how many new relationships are made each month.
• Create a standard of excellence with an acute focus instead of trying to diversify by offering too many diverse products and services.
• Instead of concentrating on getting new customers, aim for more referrals, more transactions with existing customers, and larger transactions.
• Forget about the competition and concentrate more on cooperating with other businesses.
• Guerrilla Marketers should always use a combination of marketing methods for a campaign.
• Use current technology as a tool to empower your business.
Guerrilla Marketing could give you just the edge you need in your business plan. If you want to find out more, there are several really good books on the subject, such as those shown below: