Here are some marketing guidelines, which are especially useful to new starters in network marketing business online. New online marketers must ensure their marketing efforts are targeted and effective to be successful in the industry. This comes with effective budgetary planning and control and the use of marketing management information to direct marketing efforts.
• Plan your budget over a period of say six months
• Depending on your funds available set your lead generation targets based on your budget and not the other way round initially
• In the first few months, plough back as close to 100% of your profits as possible – remember you are building a business
• As your business grows and you start to make excellent profits, reverse the strategy – now you can tailor your marketing budget based on the number of leads you wish to generate
Measure marketing efforts
• Identify the different marketing strategies you have adopted, e.g. pay-per-click (PPC), videos, social networking sites
• Measure conversion rates from leads to team member
• New starters should stay away from PPC initially as much as possible due to the high costs involved – unless you have a high budget, e.g. $1k a month or more
Increase your conversions
• By trying different marketing strategies, the aim is to choose the most effective ones over a given period
• For example, if PPC generates the most leads for you, as your marketing budget grows and you become successful you may want to focus entirely on PPC
• By measuring marketing efforts you also know which of these strategies results in high conversions – you will need to focus your marketing on this too. You will need to look at this in conjunction with number of leads as well. For example if PPC leads is 200 per month with 10% conversion, which article marketing is 4 leads a month with 25% conversion, PPC is more attractive, especially to someone with a decent marketing budget as the number of team members gained are 20 and 1 respectively.
As a new starter the key is to cut your coat according to your size. If you have a large marketing budget, it would help your business grow quicker. Even with little or no marketing budget, you can succeed in the industry with a lot of effort and a targeted marketing strategy. The key however is, whether the budget is large or small, it should be properly managed and not used recklessly. Use business profits, as much as possible to plough back into the marketing budget.