A thought came to mind right now while I thought about the huge attrition rate in the Network Marketing industry, and it seemed logical that the success rate is proportional to number of real entrepreneurs, while the failure rate relates to those running a ‘part-time job’ online.
Follow me on this:
In network marketing, a business is set up with a couple hundred bucks. There is no overhead, no rent, no loan – just a phone, a computer, and time. Doing it right leads to a pretty decent profit payoff. That’s attractive to ANYBODY – who wouldn’t want to own a business like that?
It seems like such a simple solution to the average folk trying to earn a couple extra bucks that millions of people start daily.
But as a business, there are responsibilities, and the major entrepreneurial challenge of investing in yourself – educating oneself in order to become a leader and an expert takes a major toll on that mass of people used to ‘surviving’ through their 8-hour shifts to receive a paycheck after two weeks.
My Upline Lied To Me… And The Company Scammed Me
And then the lack of commitment kicks in: “nah, this is too hard”, which usually means “my upline lied to me” or “the company scammed me” seem to be the major outcomes of such bogus entrepreneurial experiences.
97% of so-called entrepreneurs fall by the sides because they could not get that ‘paycheck’ they wanted
Which means only 3% are really committed – no matter what their reasons are, they decided to make it work.
Wanna know if you’re in the 3%?
If the internet disappeared tomorrow, would start a new business or find a job?
If network marketing became retail, would open a store?
I like to think of my readers as part of the 3%. Please prove me right.
After 3 years of launching the original MLM Traffic Formula manuscript, which has become major part of many successful marketers’ libraries, Mike Dillard is now launching an updated version of the formula.
Sure, the first TF is still relevant, as it covers fundamental online marketing practices and platforms, but, according to Mike himself, there are issues that have grown too much to ignore:
Increasing amount of free information available
Decreased internet users’ attention span
Decreased customer retention
So How Is MLM Traffic Formula 2.0 Going To Address These Issues?
On a recent email, Mike Dillard explained how TF 2.0 will be delivered:
Traffic Formula 2 is not a physical product.
When it goes on sale this Wednesday, we’ll be selling tickets to the “Beta Release” which will allow you and your customers to attend all of the live training calls and webinars we’ll be holding over the coming weeks and months as they happen.
This will allow us to make sure we cover everything you’d like to see in the course.
Eventually, the final version will be put into a binder just like “TF1”, and the price will increase substantially.
This is exactly how Traffic Formula 1 was developed. People were allowed to purchase a ticket to all of the training calls and attend them live.
From Mike’s email, and given his new take on Social Media, the crew will base the entire Traffic Formula 2.0 in what we as marketers would like to learn.
Your Input Is Important – Traffic Formula 2.0 will be Interactive!
About 2 days ago, Mike Dillard mailed an online survey to his list, prompting his 120,000 members to reveal their knowledge level, experience, and biggest difficulties.
The results of this survey remain yet to be seen, but I bet Traffic Formula 2.0 will hit the nail in the head, once all the answers are revealed.
This is undoubtely a bold, genious move by Dillard – he’s basically asking his customers:
Tell me what you want to know, I’ll answer it, and then sell it back to you for a decent price…
With his knowledge, and the support of team members like Justin Christianson, Craig Allen, Ben Settle, Jim Yaghi, and others, Mike’s definitely got the knowledge to back that promise.
The Traffic Formula 2.0 Freebies + Leo’s Awesome Bonus
Following the amazing success of Eben Pagan’s latest launch, Mike released a 36-minute “online dvd”, which has already received over 11500 views in less than 48 hours.
I’m always surprised to see the results that my ads on the Google Search produce, and the flexibility of choosing specifically which searchers to target is awazing…
The more targeted you get on the Search network, the less impressions you get, after all, you’re narrowing the funnel, focusing on customers who have moved past research and into buying mode.
Often, you find a profitable keyword, your Clickthrough Ratio and Conversion are excellent, but the traffic is just not enough to really make that much of a difference.
The Content Network Boosts Profitable Keywords Exponentially
When a PPC campaign includes the content network, Adwords will place your ads throughout Adsense placements in affiliated websites. That means not only ads will show when someone is searching for your keyword, but also when that keyword is somewhere within the text of those websites.
With the Content Network, PPC takes a much more aggressive approach and targets potential prostects that may not be “searching” for what you’re offering, but reading, looking, or watching it.
Google understands these prospects are interested in that keyword because the website in which the ads is placed contains that keyword – therefore its visitors must be somewhat related to that query.
It is common to see a huge spike in impressions when the Content Network is turned on, and that is exactly why it is such an advanced PPC strategy: with 40K impressions/day in average per keyword, a 0.5% clickthrough ratio means 200 clicks – which means at $0.10 per click, $20, for a single keyword.
There are a variety of reasons to be careful when advertising in the content network:
quality of the placements (the website where your ad is showing – is it well-targeted?)
quality of the clicks (keeping track of where your clicks are coming from can be a tiresome chore)
difficult budget planning (much higher click volume, even with low CTR)
difficult keyword strategy (instead of simply focusing on what they are searching for, marketers have to think what is the best context to place a keyword)
A couple of recommendations to maintain control over your ppc campaigns running on content:
Imagine how your keyword will show up on a blog post, email, or article, and focus your ad around that angle
Create Content-only campaigns, and check it’s results very often
Check Google’s Placement Report at least weekly to find out exactly which placements have offered the best results, and ditch the ones that didn’t.
Use ONLY exact keyword matches to have the most amount of control
Would you like to share your experience?
I have a project cooking right now that will open a huge channel to PPC students who need or want to share their PPC knowledge, but for now, I’d like to see what was everyone’s experience with the Content Networ..
Leave your comments, questions, and suggestions – I will reply!
Eben is too humble to take credit for it, but he’s famous for the phrase “move the free line”, in regards to offering high-quality content, freely, in order to capture and captivate prospects, customers, and associates.
To promote the launch of his Guru Home Study Course, Eben has been over-delivering 1000s of dollars worth of free tips, training, and even mini sales letters – stuff that could easily sell for at least $40, only to WOW his prospects to the point where they have to have his course.
Honestly, it’s working.
After taking the time to watch his 40 min video twice and reading his marketing voodoo report over and over, I’ve reached the point where I can’t imagine what’s left for the actual paid course. The information Eben shared on the marketing voodoo report alone is 100% actionable, and I already see it increasing my conversion rates and capturing customers for life.
I’m trying my best not to sound like a groupie, but it’s not easy.
What is impressive is that Eben leaves no doubt that what’s in the video and in the marketing voodoo report is his best, most precious strategies, and he is not afraid to reveal it publicly. The reason for is that despite the immediate potential his free reports have, with his guidance and special exercises, exploring its full potential will take much less than having to study it on your own.
Basically, Eben Pagan is giving you an amazing toy without the full, 400 page instruction. He gives you a 20 page instruction, and full access to the toy; you may play with it for a while, but without the entire manual, it gets boring… So you have to come and ask for the full instruction set.
It is your decision to seek Eben Pagan as a solution provider, not only because he gave you the toy, but because he knows exactly how to have lots and lots of fun playing it.
The entire “move the free line” strategy revolves around the fact that Eben (or any knowledgeable entrepreneur, for that matter) is confident that it will be our decision to seek his solution, which brings us to another point discussed on the Marketing voodoo report:
An info-product has to solve an immediate pain, and if done correctly, has no perceived competition.
Notice the cycle?
The Bait – high-quality information
The catch – the info has limited training
The solution – pay to get more training
The alternative – none, since there’s nothing designed for this specific need/service/opportunity
I’ve already made changes to my sales letter, and include some of Eben’s “toys” – can you see which ones are they?
I’ve been running my local gym’s ppc campaign since February , and I’m proud to say the results are astonishing.
They have kept their leads steady throughout the winter – which is major accomplishment for any gym – and their new membership income has been at its highest compared to any other winter, despite the economy. (what economy, anyway?)
Now, this post does have a point other than bragging 😉 hold on.
Their campaign was the first time I ever used the targeted geographical location feature on Adwords, and to be quite honest, I didn’t know much about local ads when I started.
Before we go any further, let me just say that the gym is located in the Outer Banks of NC (practically an island), with very little permanent residents, being a summer vacation spot. The online community here is nonexistent, and the search traffic that originates from our area is minimal.
The Health/Wellness/Fitness/Workout Market….
If you’ve ever advertised anything in this market, you know how saturated (read expensive) pay-per-click campaigns are.
I knew that before I started, but I was determined to make it work by finding alternative keywords. In order to find them, I started with the generic keywords, such as “fitness”, “cardio workout”, and even “gym”. I expected a flood of impressions, but to my suprise, they never came.
After a full day of running the ads on both search and content networks, I had a total of 5o impressions. That’s how bad my area’s online usage is…
With results like this, I was immediately aware that alternative keywords would have ZERO effect, so I was forced to roll with big generic keywords.
I thought it would be temporary, after all, who the hell runs single keyword PPC campaigns anyway?
Well, I did. And still do.
How I am beating NATIONAL brands on Adwords paying less than a 1/4 of their CPCs
Most keyword tools go deeper into a query, for example:
For a ‘home business’ query, wordtacker brings these results:
home based business
home business post free ads quickly
home based business opportunities
home based businesses
home based businesses free classified ads
home business ideas
10 best home based business
google home business kit
starting a home based tutoring business
article business home idea
home business opportunity
home business opportunities
So there’s this young college kid who’s got a great GPA, is very sociable, and does very well in his classes.
His family is very proud of him, they say, ‘what a great future he’s bound to have!’, and they see him wearing his suit and working in some big office, with subordinates, doing important stuff for a nameless corporation.
Little do they know all that this student sees is a commitment to give his best in all aspects of life, and his academic experience is merely the means to achieve the end purpose of creating credibility not only within his peers, but within the faculty, the staff, and the local business leaders who support the college.
So, how can academic life and entrepreneurship combine?
Think about it: whether it’s society, or family, or good-old boss pressure, most college students are there against their will. Because of it, they tend to offer their least, since there’s zero motivation.
Now, when a student realizes the relationship between income and studies, there’s a much higher change of strong dedication. At this point, that student has the potential to assimilate academic efforts as a personal investment to be recovered at potential job interviews, in informal conversations with superiors, or even in personal relationships.
And that is where academic life and entrepreneurship converge, and studying becomes an investment in personal development.
Take Charge Of Your Academic Investment
Classes are nothing more than a portfolio of the skills a student-preneur sees as the most benefitial to their enterprise. I, personally, would steer away from exact sciences – even though I appreciate the logical thinking that comes with math and physics, there’s very little return on that investment.
Here are some ways you can turn your academic investment into entrepreneurial opportunities:
Take advantage of the exposure and develop a network beyond ‘beer-buddies’
Explore the possibilities within each class: copywriting skills out of English, leadership skills out of History, etc..
Be on your teachers’ good side by raising critical questions – reference letters are particularly powerful when meeting Venture Capitalists, Banks, and initial customers.
Find and explore the small business center/junior business/business department and develop contacts – it might turn out into a speaking gig
Make use of the career center to find cheap qualified labor – again, cheap outsourcing!
If you’re not in college
I realize the average reader of the LifePath of a Network Marketer is not a college student, but the same concept applies: entrepreneurs are opportunity-obsessed and their success depends on knowing when, where, what, and WHO to invest their time with.
Learn how to turn adversity into opportunity, and you will have no unecessary experiences.
Personally, this could not be more true. Entrepreneurs have a blood thirst for opportunity, and are often seen squeezing money out of rocks.
The obsessed part draws a line between the “stable job with benefits” and the “jobs are fuel to my next startup” professionals. To be honest, I don’t have a single relative that would fit into the first category, so I blame my family for my lack of interest in the 9-to-5 world. (just kidding)
Jokes aside, stable jobs’ seekers are beyond my comprehension.
The entrepreneurs that inhabit my social circle, and the ones I admire, such as Perry Belcher, Yanik Silver, Frank Kern, and others, are opportunity-obsessed professionals that have seen many opportunities fail, but keep creating more and more due to this insane obsession.
Holistic in Approach, Leadership Balanced
There’s no doubt we’ll always have the ‘schemes’ entrepreneur trying to get ahead by scamming people, but for the major part, entrepreneurial enterprises seek to fulfill a need, offer a benefit, and conquer the minds of its customers as a necessity. The holistic approach grants that serious entrepreneurs are over-delivering, offering as much as possible in exchange for consumer loyalty.
Being a leader is communicating those values and inserting that obsession into those around you, instigating commitment, motivation, and attracting success.
Leadership = Personal Responsibility
Entrepreneurs are disciplined enought to understand they’re the ones responsible for their success and their entire operation depends on their decisions. Leaders are those that accept this responsibility despite the pressure.
Value Creation, and Value Capture
Isn’t this the basis of capitalism?
We strive to offer only the best, so we are rewarded with only the best. As I mentioned above, entrepreneurs seek to fulfill a need, creating value to those benefiting from it, and receiving credit for doing it well.
How Much Value Are You Creating?
This blog is inhabited by an incredible number of entrepreneurs, so I must ask you: are you creating value to your customers?
Be sure to measure and track your answers – they are directly related to how much value ($) you capture 😉
I wanted to start off today’s post by saying THANK YOU, very much. Each one of my readers motivates me to learn more just so I can share more valuable stuff here on the LPNM.
What today’s post is also about is your initial setup running a network marketing business. As you know, I’ve made tons of mistakes – have I ever stopped? and it’s my mission to prevent you from doing the same.
Or at least not as bad as I did 😉
I put together this video to clarify basic, yet fundamental, aspects of a network marketing business strategy that took me a while to figure out and that I still see going on with plenty of marketers out there.
The video will explain 5 concepts regarding the regular operation of your business that will take any newbie off-guard.
For example, the video explains why you should NOT say “Hi, This is Joe with Amway” when you’re on the phone with a prospect, and how to avoid trying to “convert” prospects into your business.
I know this may seem basic to some of you, and I appreciate the fact that I do have readers well-positioned in this industry, but I defend a strong position in the video, one that most marketers would take different stand on.