Incentivized -v- Inspired Word of Mouth Marketing
It is a fact that….
According to the U.S. Department of Labor 50% of All Business Startups Fail in the First 2 Years, if not sooner. ( Beware the Pre-Launch ) For Network Marketing companies, that figure jumps to 90-96% (depending on who you ask - MLM experts Michael Dlouhy and Richard Dennis say 95%)
Wow! Let’s take a look at that…
Isn’t Network Marketing all about leveraging Word of Mouth? If Word of Mouth is so great, then why do 95% of these so-called “MLM” companies fail? It has a lot to do with what’s called “Incentivized Word of Mouth” and “Inspired Word of Mouth,” marketing or advertising. Let’s look at the difference between the two….
MLM, affiliate marketing, bribed tell-a-friend forms, and the like are all “incentivized.” That’s people telling people for the promise of some reward. “Tell your friends about our new widget and we’ll give you a shiny trinket for every one who buys.”
“Inspired Word of Mouth” comes from a customer’s spontaneous desire to tell someone about the product. That’s people telling people because they love the product so much they want others to know.
Incentivized Word of Mouth advertising can be the least expensive and most effective form of advertising. It works 100% of the time and it is the fastest way to get the information out there. Nothing spreads any faster than great word of mouth information. Add some excitement and urgency to it and it spreads even more quickly
Affiliate marketing, tell-a-friend forms, a free gift for looking or trying …These are all great ways to give your business a boost also and I do recommend that you use them…
The statistics above, however, would indicate that making it the main way you market your business or product means that you are missing out on a large part of the population. The people that you come into contact with every day, if approached the right way, are wonderful potential business partners or customers.
The trouble with Incentivized Word of Mouth is that the person knows exactly what’s going on. He knows you’re only telling him because of the bribe. There are varying degrees of this, but to illustrate the worst of it, think back to a time when you were pitched on an MLM. Someone invites you to a “friendly dinner” and suddenly you discover you’re being sold something or they’re trying to get you to sign up in their deal!
Ewwww! Don’t you just hate that?
Contrast this with Inspired Word of Mouth …. The conversations are natural. They’re not forced. Because the recommendation is genuine, you want to hear it. Not only do you want to hear it, but the message is received so powerfully that it can bypass all skepticism - and almost all other parts of the sales process - and send people right to ordering the product or asking how they may join you in business.
Never miss out on an opportunity to spread the word about your business or the products that you feel so passionately about. The genuine truth and excitement will shine through from your eyes and captivate the person with whom you are talking to, if that person is responsive to your conversation. That person will feel your belief, and believe themselves without even trying the product or knowing the name of the company. You will either gain a customer or a business partner. If they are not responsive then that’s fine also, it is your duty to move on to the next person and give them the information that could either save or change their lives.
Become inspired to be a Proud Network Marketer and tell everyone about your business or the products that you use and believe in. It will pay off!
If you would like to begin receiving the skills and training that are necessary in order for you to be a successful Network Marketer, just click on the Eagle at the top of the post and download the FREE Ebook, “Success in 10 Steps” or contact me at;
tina@eagleslog.com
marketing and advertising
incentive marketing
MLM, inspired marketing
