Approaches to improve sales and customer retention

Credible MLM Business Ventures?

Ask questions

Any MLM business venture worth considering will either have a track record that you can investigate and evaluate or it will have a clear statement of the plan, the potential, and the up-front costs. Simply put, before you invest any time or money in a specific MLM business venture, there are some questions you should consider and get answers to. This article will suggest what some of those questions should be.

How long has the business venture been in business? Before investing time and money in marketing an MLM business venture, it is important to determine how long it has been operating. If it is a new concept that has not been proven in the marketplace, you have no assurance that it will even work.

Does the company have a fixed address and phone number? This may seem obvious to you, but the fact is, thousands of companies operate with nothing more than a website and an email address. Many of them are here today and gone tomorrow. Make sure the business you intend to deal with has a fixed address, physical location, and established phone number.

Does the MLM business venture have some successful members you can talk to? Most businesses of that type will show you testimonials, but these are often untrustworthy. They could even be completely fabricated so ask the owner of that business for names of real people you can talk to. Call them on the telephone and ask them to share their experiences with the program. This will not only provide you with valuable first-hand information about the program, but it will give you a list of advisors who might be willing to help you along the way.

Insist on answers

How much initial investment is required? In many cases a proven MLM business venture with a successful track record will involve some kind of initial investment. You should not assume that a business venture that is free to join is a better investment. Usually a free-to-join business will involve other costs such as marketing and advertising fees. Just keep in mind that nobody gives away valuable business offers or opportunities for free.

What you have to determine is whether a specific MLM business venture has a successful track record, is managed by honest people and offers you a realistic chance of actually making some money. These are the things you must weigh against the entry costs.

What is the realistic income potential of the business? Have a careful look at the numbers and projections provided by the business venture. Then talk with actual members who are using the program to determine if they have been able to turn those numbers into reality.

Are there extra fees such as yearly or monthly subscription fees, shipping costs, or minimum purchase requirements? Make sure to get a detailed list of all the fees involved in operating the new business. These things may not seem significant now, but they can easily eat into your profits later.

Your money, your control

How much control of your new business will you have? Be clear on who owns the business, and who controls the way it is developed and marketed. You may want to diversify your product offerings in order to avoid being at the mercy of a “head office.

The MLM business venture should require low initial investment and have high profit potential both in the short term and in the long term. It should allow you to build a profitable business of your own that will be a source of income far into the future.

Does Web Marketing Work for You?

Know if…

Determining whether or not your Web marketing campaign is working for you is a very important part of the advertising process. The reason it’s considered so important is because while there is a great deal of Web marketing which can be done without the customary excessive costs that accompany traditional methods of advertising or other types of Web marketing that have similar high costs associated with them. Also, in both cases there is a time and energy cost factor that goes along with orchestrating your Web marketing campaigns.

For these reasons it is important for you and fellow business owners to continuously evaluate your marketing techniques and strategies for the purpose of determining what is working and what is not. Doing so will also help you focus your efforts on marketing strategies that are providing positive results as opposed to those which are either not providing results at all or providing only lackluster results.

This article will examine proven methods and other steps business owners can take to evaluate the effectiveness of their Web marketing campaigns.

Method 1

Affiliate marketing is certainly one of the most cost-effective Web marketing strategies available, because it is a marketing strategy that involves having other website owners (publishers) known as affiliates post one or more product-specific or merchant-specific advertisement(s) on their websites to direct Web traffic to particular merchants’ websites. This marketing strategy is cost-effective because in most cases the affiliate is only paid when he produces a desired result such as enticing a Web user to click through the advertisement or to purchase a product or service once they click through the ad.

However, pursuant to the merchant-affiliate agreement(s), while the business owner is only paying for advertisement when it produces a desired effect, it is still worthwhile to evaluate the effectiveness of these ads to determine whether or not they are working well, or working better than alternative advertising methods or strategies. Fortunately affiliate marketing ads have a natural feedback mechanism which makes it easy to evaluate how well the ad is working. This feedback is provided in the form of unique code embedded in the advertisement that specifies which affiliate generated the website visitors.

Method 1 findings

Information recieved via embedded code is provided for the purposes of issuing payment to affiliates but it can also provide the business owner (merchant) with useful information on which affiliate ads are the most effective. This information is especially useful when the affiliates are posting various different ads. The business owner may conclude that ads posted by the more successful affiliates are more appealing to potential customers and may opt to use this style of ad for all of their affiliates.

Method 2

Business owners who use Web marketing strategies such as posting on message boards to promote their business might want to consider asking customers to complete a short survey when making a purchase. This survey can include useful demographic information which is always helpful for marketing as well as information regarding where the customer learned of specific products or services offered by such merchants.

Customers including a message board web address as one of the responses will provide you a useful indication of whether or not the message boards are helping to drive customers to the merchant’s website. You, as a business owner may also have some unofficial feedback in terms of the response to your postings on a given message board. If the general consensus is in support of your posts, you may infer that some interest in your business or website have been generated through the use of this strategy.

Evaluation

Finally, a Web marketing strategy can be evaluated by studying website traffic results as well as sales receipts; and anytime you implement a new Web marketing strategy or technique it is a worthwhile task to the time and study your website traffic reports and sales receipts carefully to determine whether or not there is a spike in traffic or sales immediately after the marketing effort.

For example, if you send out an e-newsletter to those who have requested additional information about your products or services, you may notice there is an increase in traffic or sales soon afterwards. This is a good indication that the e-newsletter was well received and is an effective strategy. However, if there is not a marked increase in traffic or sales subsequent to the e-newsletter it indicates the marketing effort was not effective.

Evaluating the Response to Your Internet Marketing

Starting an Internet marketing campaign is only the first step in the battle. Sure it is a good idea to start an Internet marketing campaign if members of your target audience are likely to use the Internet to research or purchase the products you sell or the services you offer but these marketing efforts may turn out to be a complete waste of time if you are not diligent about evaluating the response to your Internet marketing. This means that each time you implement a change to your marketing strategy you should evaluate the results of that change to determine whether or not it generated a greater profit for you. This is important because it can help you determine what is working and what is not working for you.

Evaluating the response of your Internet marketing campaign(s) can be done in a number of different ways. Customer surveys and embedded HTML code are two of the most popular methods of evaluating the effectiveness of an Internet marketing campaign. Customer surveys can be as simple or as complex as you like depending on the amount of feedback you would like to receive.

However, one of the most effective ways to find out how well your different marketing tactics are working is to include a question asking the consumer where they first learned about your products or services. This is important because if you find a great deal of your customers are learning about your products or services through a particular venue, it is a good indication this method of advertising is working quite well for you.

Embedding code into your advertisements for the purpose of receiving feedback is also a popular method of evaluating the response to your Internet marketing strategies. Advertisements can be coded so the business owner receives feedback each time an Internet user clicks through a particular advertisement. This is useful for letting the business owner know which of his advertisements are attracting the most attention.

If the business owner is using two different designs for his advertisements he may discover one design is attracting more attention than others and may make the decision to convert all of the advertisements to a more effective style. Similarly a business owner who is running the same advertisement on several different websites may discover he is receiving more traffic from one website than others. He may also discover some websites are not attracting much attention at all. This would give the business owner an indication of which advertisements to cancel and which ones to keep running.

Finally, the response to an Internet marketing campaign can be evaluated by carefully reviewing website traffic statistics after implementing changes to the marketing strategy. This information is useful because an unusual spike in the amount of website traffic immediately after implementing a stage of the marketing campaign can provide positive feedback that the change was well received by potential customers.

While this method of evaluating the response to an Internet marketing campaign can be effective it is important to note implementing multiple changes at once will make it difficult to determine which changes were the most effective. Therefore if you plan to use website traffic as feedback for how well your marketing strategy is working it is important to only implement one major change at a time so they can each be evaluated separately.