MLM => NEW School -or- OLD School Marketing?Hello Partners:
There are many different ways to create income and build wealth, despite the economy's financial crisis.
And running a solid 'business' from our homes is one way.
There are also many different 'business models' to select from, but frankly - not many will 'beat' that of the
Network Marketing business model in my opinion.
However, over these past couple of years, it seems that our Network Marketing industry has been struggling somewhat to transform itself - especially with the recent 'marrying' of Internet Marketing to Network Marketing (InterNetwork Marketing).
The debates rage on:
=> OFFline -vs- ONline marketing?
=> WARM -vs- COLD marketing?
=> buying LEADS -vs- harvesting our OWN?
=> ATTRACTION Marketing -vs- Presenting our DEAL? - etc, etc...
Each Network Marketing entrepreneur will proclaim that their way of marketing is probably the best way - but the controversy continues.
If I may, I'd like to share with you some of my own thoughts on this whole issue...
NEW School Network Marketing(InterNetwork Marketing) -
NEW School NWM ((Internet Attraction Marketing)) involves generating leads of your OWN, instead of buying them from a lead brokerage company, or using your family, friends and co-workers as your primary lead source. You get to "brand" YOU - not your company / products / services / comp plan.
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NEW School NWM methods also include providing helpful 'information' to those searching for solutions to their problems. These could be provided by using Videos / F.ree Reports / eBooks / eCourses / eNewsletters, etc, - and by posting good content out on Social Media / Forums / eZine Articles / Blogs, etc. - to get prospects to "opt-in" to your mailing LIST, via your own Lead Capture Page. This opt in mailing List then allows you to continuously market to - and provide information to - your prospects by e-mail over time. This builds rapport with, gains trust with, and creates relationships with, your prospects.
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NEW School Network Marketers also earn a "front end" income through Funded Proposal Systems ((like
Joe Schroder's STARLINK NATION, or
Ann Sieg's RENEGADE eBook and System, or
Diane Hochman's MY PRIVATE CLASSROOM, or
Mike Dillard's MAGNETIC SPONSORING System + eBooks, etc)), which are usually very inexpensive info products that are sold to "teach marketing skills or to "introduce" the prospect to Network Marketing.
The cash flow generated from these Funded Proposals (as prospects buy these products) serves to pay for your marketing expenses, until your primary M/L/M kicks in with its (back end) long term Residual Income. This is all about developing "multiple (passive) income streams - so that you become a "diversified" Independent Business OWNER" ((-vs- a "commissioned Sales Rep" for any Affiliate Marketing company / Network Marketing company / Direct Sales company - where they have all the power, control and ownership)).
When properly "positioned" in this way - within a business "infrastructure" - you become far less vulnerable.
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NEW School Marketing System - This is perhaps the most important benefit you can offer others - the Marketing System you use to build your own business. By offering prospects an effective Marketing System and Team + SKILLS first - you’re giving them 'so' much more than just a Biz Opp ((Biz Opps are a dime a dozen)) - you're giving them the HOW with a "tried and tested" surefire way to build any Biz Opp they choose to become involved with at any point.
Once you know how to implement an "effective Marketing System" - you can join any legitimate Network Marketing business and make an absolute killing. It does not matter what the product is, what the comp plan is, or who your upline is - because if you have a good "Marketing System" firmly in place - you'll become highly successful and profitable. Ideally, your Biz Opp should not even be "selected" until your Marketing System has first been implemented.
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NEW School Network Marketers also use various Internet options to market their businesses - such as Teleseminars, Webinars and Conference Calls for conducting Biz Opp and Product presentations - as well as Websites, Autoresponders and PPC ads to generate leads and follow up with prospects.
PROS of New School Network Marketing (InterNetwork Marketing) 1)- LEADS - A constant supply of higher quality, targeted leads - prospects who are "attracted" to you - who "pay you" to contact YOU. Because NEW School methods encourage (and teach) generating your own leads, you are unlikely to ever run out of people to talk to. Running out of prospects is a common concern when Networkers only use their WARM market as a lead source.
Social Media Marketing: With SMM, you can build a GIANT audience rapidly - for F.REE (Squidoo Lenses / Hub Pages / FaceBook / Twitter / MySpace / YouTube / Digg / etc, etc). With these, you can "make friends" at hyper-speed ((but not by "pushing your deal"). People today are much more "anti-social" than in the past - but they do "hang out" by the millions in these Social Media places now. And with SMM, you can build your business "globally" and "locally" ((yes, many Dentists and Chiropractors are using SMM now to build their practices "locally! :-)) So, just think of the "massive exposure" that SMM alone, can give you.
2)- NO STRESS - The Law of Attraction works on your side. This also goes back to generating your own leads. When you generate a good lead - essentially, that prospect is asking YOU for more information about what YOU offer. This means that Network Marketers do not have to "chase down" their prospects and sell them on the idea of their products or business opportunity. This of course, helps many 'new' Network Marketers to be much more comfortable when prospecting, as they don't feel like they are harassing anyone.
3)- LEVERAGE - More leverage to free up your time. One of the best advantages to using NEW School network marketing strategies is that many of your prospecting tasks can be automated. For instance, lets say your Marketing System requires you to approach a prospect, invite them to get more information, and give a business presentation. Using OLD School methods, this would mean, you call someone on the phone, (and maybe leave several messages before you talk) - get to know them a bit - and if they qualify, invite them to a meeting (or 3-way call) - then give a 30 to 45 minute presentation. And you would do this with each and every prospect. This process could take many hours and sometimes with very little to show for it.
Whereas with technologies such as Websites, Autoresponders, Videos and Webinars, you can take one or 300 prospects through this very same process without even speaking with them personally. Hence more free time for you to work on other things in your business.
CONS of New School Network Marketing (InterNetwork Marketing) 1)- EDUCATION - There is a HUGE learning curve for newbie (and experienced! :-) Network Marketers to go through. Not just learning to master the NEW School "concepts" and "technologies" ((as are taught by experts
Ann Sieg and
Mike Dillard - two of the 'pioneers' of Internet Attraction Marketing)) -- but also, learning how to "apply" them to the marketing mix. This can be a long and drawn out learning process. After all, just about anyone can subscribe to an Autoresponder - or throw up a Website or a Blog - but if you don't understand HOW to make those tools become effective, its pretty much a waste of time and money.
2)- PREPARATION - The MLM companies (and most uplines) have resisted the trend to NEW School Marketing and therefore, there is little or no training available. Or, what training there is doesn't give the proper education on Internet Marketing as it applies to Network Marketing. It doesn't begin to prepare Network Marketers for using the power of the Internet to propel their businesses forward. In fact, the 'best' training for this is almost always found "outside" the Network Marketing industry, or from expert "Internet" Marketers.
3)- OVERWHELM - As a result of these challenges, for those embracing NEW School methodologies, most go through a period of "confusion" and perhaps "frustration" at first. Yet for those who will take the time, and go through the process of "getting the education and the right training" - the transformation in their business success is usually night and day.
And this is where specialists like
Mike Klingler (Renegade University) and
McKay Earl (The 90-Day Marketer) come to the rescue. Their on-going training and resources are perhaps the finest in the Network Marketing industry right now (my opinion). They follow up, and take Home Biz entrepreneurs "by the hand" to help them better understand, and successfully implement, the stuff they received from experts in Internet Attraction Marketing, like Schroeder, Hochman, Sieg and Dillard.
4)- HYPE - The NEW School way for Network Marketers has amplified the amount of 'hype' in this industry. Which means new and struggling Network Marketers often wind up falling for the latest 'push button system' - and sadly, they ultimately get fed up with M/L/M.
Which Is Best - OLD or NEW School Network Marketing (InterNetwork Marketing)?ANSWER - The answer really is => BOTH methods can be very effective and profitable for many. It's all about "balance".
Despite the fact that prospecting one's WARM market (family, friends, co-workers) + COLD calling + other OLD School methods of building a Network Marketing Home Biz may be frowned upon by some - the bottom line is, MOST marketing techniques have been - and will continue to be - very effective for some.
Many people have used (and are still using) strategies like - "the 3 foot rule" - putting on house or hotel "meetings" - handing out "flyers" - buying "leads", etc - with tremendous success. On the other hand, many find these ways uncomfortable, awkward, and have fallen flat on their faces using them.
The NEW School transition has challenges of its own too, as touched on above. Will NEW School methodologies stem the hemmorage of a 97% failure rate in the Network Marketing industry? Hard to say.
Many think it will begin to do that - while others feel the NEW School way is only a fad.
Only time will tell. Most companies and uplines are still teaching OLD School methods exclusively.
SINGLE PRODUCT Companies - Frankly, I believe that M/L/M companies with "one" primary product, like - candles - healthy tea - greeting cards - healthy coffee - skin care, etc -- these businesses generally do not require as much of the "Internet Attraction Marketing" (NEW School // InterNetwork Marketing) methodology as say, the more complex "multi-products Nutritional businesses (where the competition is intense and the Autoships are usually much larger).
The "single" product M/L/Ms mentioned above are examples of pretty "simple" and "basic" to understand / explain / see / touch / feel / smell / taste products. They may not require as much of a "pre-sell" or "credibility" factor (-via- Attraction Marketing) as others. A "balanced" approach will likely work best with both these and Nutritional M/L/Ms (between OLD and NEW School Marketing).
MY PREFERENCE - Although I'm biased, and personally prefer the NEW School ways ((and I'm working hard at adapting to them, having been brought up on OLD School ways)), I believe the challenge for each of us is to learn about, and study, as many different (good) Network Marketing strategies as we can. Once we've learned what techniques we have available to us, we will then have the knowledge and understanding to make a decision about what methods fit us best - but more importantly, to guide others in that as well.
As we learn HOW to market more effectively in today's rapidly changing environment, we'll perhaps build our businesses 'slow and steady' at first, but build far more profitably over time. Remember the tortoise and the hare? Slow and steady brings us that long term, stable income - not just that quick, one-time 'cash fix'.
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Bottom Line - As 2008 draws to a close, and as the world economy worsens - more and more people will be 'forced' to seek alternatives to providing financially for themselves and their families. WE in this industry can become a beacon of HOPE for them - WE can offer them quality information + add value to their lives - WE can guide them with our support, our products, tools, services, resources, our opportunities, and the appropriate MARKETING EDUCATION - the kind that best suits "their" needs.
Ideally, that will be a 'mix' of the best of both OLD School and NEW School strategies.
Here's to a very
Happy Holiday Season - and to a
New Year filled with many blessings.
Sincerely / Peter A.
www.PeterArnoldOnline.com Peter Arnold, CLU, CFC / Founder
Business Achievers Academy / Canada
