Monthly Archives: March 2018

Making Your Marketing Accountable

One of the biggest problems when it comes to marketing is the lack of accountability. If you look at other areas of a corporation there is rarely a department or area where a person cannot account for everything that happens including where all the finances go. They can also show the direct relationship between a particular action and the success or failure of that action.

Marketing however is different. While positive results can be and often are generated it is rarely the case where the results can be directly linked to a particular action. This is because marketing lacks the metrics and standards, in other words, the units or ways to measure action to result. The result of this is can be felt in a number of ways. There is no way to measure success or failure based on a particular aspect of a marketing plan and more importantly there is no way to predict the success of a particular tool, strategy or plan when it comes to marketing.

In part this is not because markets cannot decide on what type of unit to use to measure, they cannot even decide what exactly it is they are attempting to measure. This makes it difficult to assign accountability when it comes to marketing. A number of plans have been put into action that create some level of accountability when it comes to finances and marketing.

It is common for as much as a quarter of a company’s income to go towards marketing. It is therefore not unreasonable that there be some accountability and some ability to project the results of the marketing campaign as well as to justify the necessity of the size of the marketing budget. In fact, certification is required and the accuracy of financial statements is essential. The practice of guessing and the attitude of it is close enough is falling under increased scrutiny. However, marketing firms and departments having no accepted units of measurement are having a difficult time supplying the necessary answers that executives are requesting.

In order to combat this, professionals in the marketing industry have begun to develop individual and personalized standards, which are then used to measure the efforts, the risks and projections. This reduces the standards to an in firm matter that becomes part of the tactical activities of the firm rather than an industry wide standard.

Generally the only way to measure the success of marketing is through financial means. However, while marketing may use standards of measurement to claiming a successful operation there has been very little done to define what qualifies as success for marketing. As an increasing amount of companies have increased the marketing budgets in an effort to draw in an ever increasing number of customers the need for justification and tracking has become more of a necessity. In turn this has started to move marketing out of the inherently creative and necessary evil categories and into more traditional business positions with more traditional and understandable standards.

Standards of quality are necessary in any aspect of business. It helps to maintain a consistent level of production that is predictable and effective. Having a standard that is defined in clear terms and in a language the entire industry and more importantly related industries can understand is essential in allowing a corporation or industry to make long-term plans.

Here are a few of the things that standardizing and establishing units of measurements can do even with marketing. It can help to allow for more effective use of resources, improve the ability to predict results and provide an increase in the ability analyze and plan for what if situations, which often occur in marketing. It can also allow for the investment return to be asset. This allows a business to create a financial balance, which provides an increase in the overall benefit of marketing to the company.

These are some of the benefits as well as some of the problems that have arisen when it comes to creating accountability within the marketing industry. As a result the question then becomes how to create the standards necessary to eliminate the problems and increase the benefits. One of the biggest obstacles in developing standards is the fact that it is difficult to measure marketing against the standards of measurement common to industries.

This has created a resulting standard of measuring marketing success by cash flow in after campaign reports. Many people do not realize how frequently standards are taken for granted or how difficult it can be to create them. In order to create a recognized and consistent standard, which can allow for market accountability there must be first, a link between the marketing action and a financial return.

This link must be set up and held to the definitions of financial return, risk, the cost and value of capital and money. These are industry standards and help to provide a stable point of reference to from which to work. It is also important to create an accurate way of forecasting. In marketing this is best done through retrospection.

Six Requirements For Financial Independence

All of us would like to be financially independent, but what can you actually do to become financially independent?

1. Be in business for yourself
2. Sell a product that is in demand
3. Absolutely guarantee the product
4. Give better service than your competitors
5. Reward those who do the work
6. Attain your success by building the success of others.

One way to gain financial independence is through Network Marketing.

Network marketing as predicted by experts, is showing definite signs of going mainstream. More and more people who previously rejected Network Marketing, are now getting involved, and large companies that used traditional methods of marketing in the past, are now adopting the concept.

What is it? Network Marketing, as it is called today, has been around since the 1950s. Network Marketing originally known as Multi Level Marketing (MLM), is probably one of the most misunderstood concepts in America today.

In Network Marketing, companies move products through a group of independent distributors who buy wholesale, sell retail, and sponsor other people to do the same. For your efforts, you can earn overrides on multi levels of people in your organization.

What is so attractive about this business is that there is no prejudice. Anybody over 18 can prosper and succeed. No color, race, gender, age, employment or educational background can stop you. All you have to do is be open minded and follow the simple steps laid out by your company. You have unlimited earning potential. There is no ceiling. Simple, Fun, Money are three words that can be associated with the most powerful marketing method to distribute products in the 1990s and beyond. Personal growth, along with financial freedom is two of the things you can expect from Network Marketing.

Why Am I So Confused About It?

First, ask yourself what the difference is between Network Marketing and Multi Level Marketing. Nothing! They are one in the same. MLM has been around for forty some odd years now and started as a part time business opportunity. By the middle of the eighties many people were earning substantial amounts of money and were beginning to do the business full time. By this time the phrase “Multi Level Marketing” had a pretty tarnished reputation. Well deserved, we might add. Any new industry is going to have its con artists but this had many. Perhaps that is why a lot of people refer to this as a pyramid scheme (which of course is false).

By this time, John Naisbitt had published his well received and highly successful bestseller “Megatrends” and devoted an entire chapter on networking. We had been doing it subconsciously all along and we still do. So the industry came of age: More and more people were using the phrase, “Network Marketing.” Companies selling growth patterns astronomical in both the quality and quantity of people and found this marketing concept to be a wonderful way to move products in the nineties and beyond. Network Marketing was born.

In Network Marketing you are not a door to door salesman, so lets dispel that myth up front. You are in business for yourself (as an independent agent), but not by yourself. You can have very little start up costs and you buy wholesale and distribute product at retail. But, unlike other marketing methods, you have the ability to build a group of people under you, all distributing a little bit of product everyday and then collecting an override on the organization you helped to create.

Remember, this is a group effort (in business for yourself, but not by yourself) and the big money is in organizational overrides. It is almost like owning a chain of stores, or owning a large marketing distribution company. In traditional business (lets use a corporate sales organization) the sales manager hires by adding new people and assigning territories. If a person gets terminated or resigns, you subtract. If the sales organization has 100 people you will probably have a manager for every 5 people. Traditional business is structured a lot like Network Marketing, but in traditional business you do not collect overrides. How many times have you ever recommended a friend for a job in your company and collected an override for it? But, someone on top did! So, the power lies in the ability for Network Marketers to multiply and duplicate.

You build your organization by going wide and deep. Start by lining five people across. Teach them to line five people across, and have them teach their five people. So everyone is working with five people, just like traditional business. Only now, anybody who has desire and the ability to learn simple concepts has the ability to earn vast sums of money by exposing great products everyday and teaching others to do the same! And in time you will have a bigger sales force, all well managed and trained without the headaches of inventory, paperwork, computers, payroll, and staffing. You are an independent agent, all that is handled by the parent company. Once you have successfully trained five people, you go out and repeat the process again, you will have attrition, but are now multiplying, going wide and deep and just subtracting, not dividing when attrition occurs.

Getting To Grips With The Optimum Financial Marketing Agency

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