This is something that most establish network-marketing companies wont tell you about
According to MLM Next Step LTD:
In the early 1960s, franchising was a revolutionary new technology in business and it was also met with resistance. Newspapers and magazines wrote what a scam and rip-off franchising was. Stories of people who lost their life savings to some franchise were everywhere. There was a strong move to make franchising illegal. In fact, franchising actually came within 11 votes of being outlawed by Congress.
Today, this so-called scam is responsible for over 34 percent of all retail sales in North America. Franchises sell nearly 800 billion dollars worth of goods and services today. Every industry goes through an evolution similar to this. Chiropractors were considered quacks in the 1970s, the stock market was considered shady and a form of gambling and the first newspaper in British North America, The Public Occurrence (1690), was suppressed by the governor of Massachusetts. Now, we almost can’t do without these industries.
Formulation:
Creation of company: You must first create your company, along with a catchy name, as well as marketing tools.
Product management: Manage your products, whether they are your own or an affiliate product. Delete the ones that arent selling and market the ones that are!
Getting top gun recruiters into the company: You need a team to make your company successful. Getting the best recruiters on your team will bring you much closer to success.
Drafting out a compensation plan: How will you compensate those on your team while still making a profit?
Company is shown to the world: Get the word out about your company through PR. Begin with an eye-catching press release.
Concentration:
Formulation of a robust company
50% out network marketing companies go out of business in the first year.
80% of remaining network marketing company wont even get pass the 3rd year.
Those who pass the 2 most important criteria are game for great momentum growth.
Momentum:
1. Hit the masses.
2. Steep Surge of sales figure; imagine that of a tsunami wave.
3. This is where HUGE money was made.
4. Huge numbers of distributors join the company.
Stability:
Finally the network marketing company, which passes the formula, concentration and momentum stage, will reach stability stage.
There will still be growth in the company but not of huge proportions compared to the momentum stage.
Most importantly, what is in it for you? If you were to ever join a network marketing company, make sure you ride on the tsunami wave where it is in its infancy and enjoy the process. As technology is moving at a staggering speed, a company that uses Internet as a recruitment platform will go much further and faster.
Authenticity and Essentialism are Innate Desires
The world is filled with duplicity. Knock-off has become a term that means the same, but different in terms of quality and price. By nature humans want to be original since every human is an original creation that can not be duplicated in terms of thoughts, beliefs, and energy.
Consumers want to buy original products that present an image of uniqueness as well as quality and value and theres no better example than Rolex watches when it comes to proving that humans innately want to express their own quality, value, and uniqueness through the goods and services they purchase.
Rolex Watches entered the world of Horology in 1905 when Alfred James Davis and Hans Wilhelm Wilsdorf founded Wilsdorf and Davis Ltd. Wilsdorf created three watches that passed rigorous accuracy tests before the company was formed so it was a natural step to start a watch company with his English partner Davis who was his brother-in-law. The company became a family affair and they registered the name Rolex in Switzerland in 1908 even though that name had no real meaning other than it was easy to spell, easy to say in various languages, and easy to remember in all of them.
In 1915 the company was officially renamed the Rolex Watch Company and it finally became Rolex SA which is the driving force behind today’s successful marketing program.
By 1945 Rolex Had Established Its Manufacturing Prowess
During the 1920s and 1930s Rolex carved a luxury name for itself by receiving several awards for precision and quality from four renowned observatories: Geneva, Kew, Besancon and Neuchatel. A chain of internal events took place before the Second World War and they also had a significant impact on the evolution of luxury Rolex Watches.
The famous Crown or Coronet logo was trademarked in 1925 and the name Rolex began to appear on the dial in 1926. The company also changed the design of its case and began using hermetically sealed cases designed by the Swiss craftsman Francis Baumgartner. These new cases made Rolex Watches almost waterproof.
Wilsdorf also bought the patent for a new moisture-proof winding system in 1926, and that addition produced the Oyster, which was the first watch with a waterproof case. The oyster was worn by an English swimmer who swam the English Channel in 1927, and the impetus from that marketing campaign set the stage for future luxury marketing tactics.
Rolex watches were marketed and advertised as wonder watches. The company made improvements in the Oyster which increased its status. It was the first watch to be called waterproof at 100 feet under water. That feat made it a watch rock star almost overnight.
The pricey Prince was introduced in 1928 and it is still a popular style today for men who want to express their innate uniqueness and material success. New adjustable six position balances were also introduced in 1928 and in 1932 the company introduced the self-winding feature. In 1935 the Super Balance was introduced to improve the design of its Auto Rotor.
In 1935 Rolex acquired the exclusive rights to Aeglers movements and that was a strategic move that allowed the company to focus on the US market. In 1937 Rolex introduced the first chronograph wristwatch. British pilots wore the Rolex Oyster during the war to signify their excellence and success. After the war the company gave every British prisoner of war a new Rolex since they lost their originals to their captors. Those replacement watches didnt have to be paid for until after the war and that move turned out to be an incredible marketing tool.
Rolex Still Sets a High Marketing Bar
Rolex is still launching new watches and unique marketing campaigns that emphasize quality, prestige, and individuality. The company produces over 2,000 watches a day and is ranked in the top 100 global companies by Business Week Magazine. It holds the top spot for among all watch makers in terms of product recognition, perceived quality, and creative design features and functions.
Tradition meets innovation and Rolex uses that philosophy to create a luxury watch marketing campaign that continues to break price barriers. Their marketing campaign is rooted in authenticity and essentialism as well as the rich heritage of quality timepiece manufacturing.
Marketing environment is made up of all the factors and forces that influence marketing. These forces can be internal like departments (other than marketing such as finance department and human resource department) or external like competitors, suppliers, economic or political situation. To understand them better, marketing personals divide them in two categories namely macro environment and microenvironment. Lets have a look at some of the important factors involved in marketing environment.
Internal factors:
All the departments involved in business management affects the process of marketing as well, for example the finance or research department in large enterprises. Marketing department is bound to keep their expenses under the budget set by the finance managers or to consider recommendations from the research department. Similarly the supplies and collections can have an impact on marketing as well.
Customer markets:
Different types of customers markets include consumer markets (B2C), business markets (B2B), government markets (B2G), also a new type of customer market has emerged as a result of globalization i.e. international market. Where most other departments will treat these markets similarly, marketing team has to treat them all in different manner. Though most advertising campaigns are targeted to consumer market, the type of customer market does affect marketing decisions on the whole.
Competition:
Competition is becoming more and more influential in a company’s approach towards marketing. Competition stems from the business that is offering the same product as yours. A business has to counter this competition through marketing; some times businesses do try to have a hit at their competitors in advertisements (though not candidly). The level of competition is also a decisive factor when planning on how much to spend on marketing.
Different types of publics:
Another important microenvironment factor is the publics (government, consumer associations, financial or media publics). All of them can have an affect (positive or negative) on company’s reputation and marketing.
Demography:
Good marketing managers tend to spend plenty of time in conducting demographic research for their targeted consumers. Demography is the research of gender, age, race or anything else related to consumers. International businesses are concerned about various races (Asians, Hispanics, etc) and their different set of demands. While the terms like “baby boomers” or “generation X” were invented to reflect the specific age groups of consumers.
Economic Factors:
All the variables of economic markets like inflation, rate of exchange, fiscal policies and monetary policies fall under macro environment factors. They affect all businesses, and needless to say their marketing efforts as well.
Other Factors:
Other notable macro and microenvironment factors are marketing intermediaries, political stability (or instability), new technologies or natural forces.
Why did Nokia decline? The most nonsensical argument is that Nokia is too far away from Silicon Valley and it lost the ability to innovate and lead innovation. It can also be said that Nokia failed due to the continuous blow of Apple and Google. Especially Apple has rewritten the golden age of the traditional mobile phone manufacturers represented by Nokia.
Of course, this does not mean that Nokia will surely perish in the short term. Nokia will not get out of the Chinese market. Nokia can not be acquired in a short-term. However, Nokia’s decline has a variety of reasons. The only one that does not have to bear the important responsibility is probably Nokia’s marketing, especially China’s marketing team.
Nokia’s marketing has been very powerful. Whether channels or activities, whether endorsements or advertising, Nokia’s marketing and innovation are world-class. New Year’s Eve concert, superstar strategy, advertising campaign and the innovative application of Internet marketing, Nokia’s marketing throughout the industry is in the lead.
It is pity that Nokia who understands social media marketing is abandoned by the user. Even Nokia itself has given up Symbian and switched to Microsoft camp. The reality is so cruel. You may have not committed anything wrong, even always a plus in marketing, but the situation is hopeless. No matter what kind of marketing ideas and deeds can not change the decline of the Nokia product line.
Nokia’s decline is not much related with marketing, but Nokia’s case was enough to alert all the marketing people. Marketing is not everything. There are things more important than marketing, such as products.
Nokia’s has an absolute advantage in technology innovation. But the efficient operation of the corporate culture and cost control has become a stumbling block of innovative thinking. Nokia discarded the touch wave, just because it takes into account the risk of the high cost. It is reluctant to give up the lagged behind Symbian system early.
Although Nokia has seen competitors continually erode their market share, but Nokia is still reveling in the industry leader position in the past few years. When the rise of Apple and other smart phone threat and gradually replace its position, Nokia was awakened and rushed to find partners like Microsoft. Nokia today have lost even the hope of turning over.
Analysts of the industry say that technology innovation is the key factor of mobile phone manufacturers. Marketing is not everything. The products and technology innovation play a more important role.
You may or may not know that Internet marketing is available for a fraction of the cost of traditional marketing. In addition, the Internet allows you to display a plethora of information to potential renters like: pictures, maps, unit sizes, prices, and specials. In fact, you can even give customers the ability to rent instantly (if this feature is available on your website)! Internet marketing is flexible, meaning you can quickly and easily change your ads throughout the year. And arguably the best aspect of Internet marketing is that traffic, consumer patterns and behaviors and the actions these people take can all be tracked and monitored – making it easy for you to evaluate its effectiveness.
Because this topic is still new to some of you in the industry, I wanted to share the terms most commonly used when talking about Internet marketing:
1. URL – the website address you type into your browser to go to a webpage.
2. Search Engine – I’ll just say Google. Google is the most widely used search engine. Some other popular search engines include Yahoo, AOL, and MSN.
3. SEO – the acronym for Search Engine Optimization. This process helps YOUR website move higher and higher in the search engine rankings when people type in specific words or phrases into a search engine. The websites you see on the first page when you search for something are well optimized and are receiving most of the traffic.
4. PPC – the acronym for Pay Per Click. This is a form of Internet advertising (and a major source of Google’s revenue) that allows you to only pay when people click on your ad and are taken to your website.
5. CTR – the acronym for Click Thru Rate. This is the percentage of people who click on your ad out of all those who see it. The higher this percentage, the better.
6. CPC – the acronym for Cost Per Click. This is how much you pay each time somebody clicks on your ad. In the self storage industry this is usually between $1.50 and $3.00.
7. Impressions – the number of times your ad was seen by a searcher on a search engine.
8. Conversion Rate – the number of actual renters out of all your inquiries. You want this number to be high as well.
9. CPA – the acronym for Cost Per Acquisition. This is how much it costs you to acquire a new customer.
10. ROI – the acronym for Return on Investment. This is the ratio of money gained or lost on an investment; in terms of marketing it is how much profit you’re making for each marketing dollar you spend.
Your goal for Internet marketing should involve capturing as many tenants as possible through the Internet at the lowest possible cost (lowest CPA). Because the Internet allows you to display so much information to potential renters, often times these potential renters come to you already knowing where you’re located, your office hours, unit sizes, and specials and therefore, are ready to rent a unit.
People using the Internet will contact you in one of four ways: