Archive for November, 2008

Joint Venture Marketing: Capitalizing on the Psychology of Trusting Relationships

Saturday, November 29th, 2008

Humans by nature are social creatures and they have the ability to greatly influence one another. This influence is not limited solely to a person-to-person basis, as people are just as readily influenced by advertising, reference and recommendations. Suggestions are most powerful when they come from a known and trusted source, but people are almost constantly looking for advice, approval and suggestions on a very psychological level. Expert marketing strategies capitalize on this basic truth of human nature, and the strength of a joint venture marketing partnership creates a space where you and your partners can benefit tremendously from the psychological edge naturally created by your partnership.

The Psychological Edge of a Joint Venture Marketing Partnership

You may not be aware of this psychological philosophy, but just having a joint venture partnership engenders trust among consumers. At its core, a joint venture marketing partnership is a relationship. The stronger your relationship with your partners, the stronger and more successful your venture is likely to be. Relationships are built on trust, and when consumers see that you have partnerships with one or more companies, it demonstrates that you trust one another. This instills a feeling of confidence in the consumer.

Consumers are presented with an endless array of products and companies from which to choose. Depending on the industry, there are usually many companies and websites selling similar, if not identical products or services. In a world of big business and globalization, consumers are increasingly conscientious of the dwindling small business and mom and pop-like stores on which the United States was built. Many consumers, if given a choice, will purchase from a small company rather than a large one, because they believe their purchases are appreciated and make a difference to these smaller companies.

How to Use Consumer Psychology to Your Benefit

If you have a joint venture marketing partnership of two or more small businesses, this immediately plays to this type of consumer psychology. They are more likely to buy from your company, even though you sell the same products or services as a larger corporation because the consumer has a feeling of being personally invested in your company’s survival. On the other hand most people believe a large corporation will survive with or without their purchase.

Being part of a joint venture marketing partnership is an automatic endorsement from your partners, creating a feeling of confidence and trust among your potential customers. If you agree to a partnership, it means you view the company you’re partnering with as a trustworthy source. The reverse also holds true. Your joint venture marketing partners have trust and faith in you and your company. This is demonstrated to consumers simply by the business link that you share.

Consumers recognize these relationships as endorsements and recommendations. Even if the consumer doesn’t know of your company, the fact that you have other professionals and businesses that connect with you is a vote of confidence. One the smartest and most strategic ways you can capitalize on consumer psychology and build customer confidence in your company is to develop a joint venture marketing partnership.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing
firm. He exemplifies how to profit from Joint Venture relationships by
creating profit centers with minimal risk and maximum profitability.
Join his JV Wealth e-zine at http://www.christianfea.com/joint-venture-wealth-report/?a=2

Increase Consumer Confidence with Joint Venture Marketing

Friday, November 21st, 2008

Forming a joint venture marketing partnership can be an effective way to expand your business and gain new clients as it has a psychological component that works particularly well to instill consumer confidence, which will ultimately lead to loyal customers and increased sales.

Tapping Into Consumer Psychology

Psychology plays an integral role in all business marketing. Studies have proven time and time again that people will buy just about anything, as long as it is well marketed and effectively advertised and that consumers are prone to purchasing items they don’t really need or often cannot afford. Inspiring people to make such purchases is marketing genius and can be enhanced through a joint venture marketing partnership.

Consumer confidence is one of the largest determining factors in purchases they make, and psychology is one of the largest determiners of consumer confidence. Thus, understanding the role psychology plays in marketing can help boost the confidence of consumers who purchase your products and services, leading to increased business.

Using Joint Venture Marketing to Increase Consumer Confidence

Forming a joint venture marketing partnership is one way your company can reach customers on a psychological level, increase their confidence, and form a tight community of loyal clients. Keep in mind, people like to feel significant, needed, and important, so if a customer feels his business is truly important to you, this will inspire his confidence to purchase from your company. If you reinforce this feeling of importance, you create a snowball effect, where the more important a customer feels he is, the more confidence he will have for your business. This increased customer confidence of course translates to increased sales for your company. Understanding this psychological mechanism of the business/client relationship will put you on track to forming strong and long lasting relationships with your customers.

Joint Venture Marketing Taps Into Buying Psychology

Forming a joint venture marketing partnership influences consumer buying psychology for in many ways. Here are a couple of examples:

  • Working with other companies and sharing ideas about how each of you handles customer service and consumer confidence will create new and exciting ways to reach a previously untapped consumer base, benefiting both companies involved in the joint venture.
  • When your joint venture partner gains some of your clients and vice versa, you create a community of clients that you both share. These customers are now part of an elite group of clients that you and your joint venture partner can target and market to in ways that you couldn’t when they only belonged to one of you.

Both of these points are important to understand when tapping into the psychological nature of human beings if you are to be successful at utilizing this knowledge to improve your company’s sales. You can use this understanding to your advantage. Don’t regard it as manipulation, but simply smart business psychology. These psychological influences are at work all around us in everyday life. Human beings are naturally wired this way, and understanding this is not the same as manipulation.

A joint venture marketing partnership that focuses on consumer psychology makes targeted suggestions based on buying habits and behavior, which is a win-win situation: it makes the consumer feel understood, and it has to potential to increase your business!

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing & Consulting firm empowering business owners to discover and implement Integration, Alliance, and Joint Venture marketing tactics to solve specific business challenges and increase profits. To read more articles related to Joint Venture Marketing, please go to his Joint Venture Blog Site. He can be reached at Tags: Deal Making, Entrepreneurship, Income, Joint Ventures, Making Money, Strategic Alliances, Wealth
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Network (MLM) Marketers Your Upline Is Lying To You And Keeping You Broke

Sunday, November 16th, 2008

Network Marketing Training

If you are new to network marketing then these facts may scare you. Don’t back away or hide your head in the sand…it is obvious that the techniques that you are being taught by your upline are out of date and moldy. Back in the 90s most of those ideas worked, but now with the Internet, everything has changed.

Don’t kid yourself, you know what I am talking about. That “Warm List” the “3-foot Rule” those meetings at the Holiday Inn. This is the Internet era and those old style ways are limiting your abilities my friend. Smart Marketers that understand the “New School” ways of building a business online are going to destroy the folks that just don’t get it.

So you will need to change the way you look at the Internet from now on. Please stop chasing strangers around the mall, stop paying for leads and top of my list, Please stop cold calling people that are not interested in what you are pitching to them.

I know what its like to struggle in this industry. For the last 3 years I followed the training of my upline, struggling to get anyone to sign up in my business. I live in Montana, so the pickings are very limited and once you have gone through your list of 100 (if you know that many people) you are done my friend you will be shunned. No more BBQ invites..and if you have changed opportunities more than once FAGEDDABOUTIT, you might as well have a social disease.

So I know firsthand the frustrations, struggles and questions that you have had while trying to duplicate your business through your downline. Even a popular person will struggle using these old world techniques in this new world of marketing. No one likes to chase people, put up fliers, hand out cards and the whole ball of wax…especially if after months of doing it you are not seeing results.

What is needed is a training system that is up 24/7/365 to help you turn your business building activities into a duplicatable program. You need to brand your own website and then automate the training of your downline. This allows for predictable results for our team building.

The system you introduce your team to, can not be complex. Can not have HTML or coding involved in it, at least not for the newbies. You want to create a level playing field for all members of your team to succeed that allows them to make immediate cash flow to fund their business growth. No cold calling, no badgering, no selling your latest opportunity. I have taken away your excuses for failure in your network marketing business, so what are you going to do now?

Rebecca Holman works with serious network marketers that want to implement current marketing technologies at MLM Lead Marketing Online Approach the future of the internet by learning to brand yourself through Attraction Marketing

 

 

 

New Wave Marketing Principles

Friday, November 14th, 2008

The famous nine principles of marketing by Phliip Kotler as we all have learned to know and applied in our marketing strategies will be revised and adapt to the modern world today and these new principles will be known as New Wave Marketing. The new book on New Wave Marketing will be released soon by Philip Kotler and Hermawan Kartajaya of Markplus Inc. Whether or not they will actually replaced the old terms from now on has not been revealed.

Just to point out, The nine principles of marketing referred to as “Legacy Marketing” are:

1. Segmentation,
2. Targeting,
3. Positioning,
4. Differentiation,
5. Marketing Mix (Product, Place, Price, Promotion),
6. Selling,
7. Brand,
8. Service,
9. Process

Twelve C’s of “New Wave Marketing”

The new elements has now been termed the 12 C’s of “New Wave Marketing”

1. Communitization,
2. Confirming,
3. Clarifying,
4. Coding,
5. Crowd-Combo (Co-Creation, Currency, Communal Activation, Conversation),
6. Commercialization,
7. Character,
8. Caring,
9. Collaboration

New Wave Marketing is to achieving high impact with low budget. While the old Legacy Marketing needs high budget to achieve high impact.

The New Wave Marketing elements are actually a replacement of terms from the 9 principles of marketing which better decribed the way marketers apply them in this modern world.

These new elements do make sense with the new world today. The changes in information technology especially the internet has revolutionized how human communicate with one another, creating more opportunities and threats to all businesses. Just like the nine principles of Marketing that needs adaption to the new world, we too need to adapt to the New Wave Marketing and apply them to our business to face this new world”

I will apply these New Wave Marketing Strategies to some examples in my Marketing Business Blog. To learn how Internet Marketing plays a role in New Wave Marketing, browse and download special report on Internet Marketing Solutions at www.BOBmarketing.com

Efficiency is the Killer App

Wednesday, November 12th, 2008

Efficiency is the Killer App

Nick Patrissi, Industry Relations Manager, Kodak’s Graphic Communications Group

 

Working efficiently is a business imperative in today’s competitive global

marketplace.  A global business requires the integration of marketing processes

with global business requirements.  Marketing strategies must now expand to

include cultural norms, buying criteria, and selling propositions for dozens of

international locales and partners.  Marketing teams must schedule, collaborate,

and review print, broadcast, and multimedia material among themselves and

many creative and production partners.

As worldwide operations become more and more complex, marketing, creative,

and production professionals are continually challenged to do more with less

without compromising quality or effectiveness. Marketing and brand managers

with bottom line responsibility are forced to take a much closer look at process

automation and efficiency to meet these new business challenges, and are

turning to technology to enhance efficiency and eliminate costly manual

processes.

Interest in cool marketing business tools is not new, although the blend of cutting

edge innovative technology with the  strict discipline of process management is

emerging under the category name of “marketing automation.”

Marketing automation is growing in many segments of the corporate landscape.

Led by early adopters and marketing directors in the consumer packaging, financial

services and pharmaceutical sectors, many marketing companies have implemented

sophisticated marketing automation solutions. The Winterberry Group LLC,

reported that over 76% of marketing end users surveyed stated that their

organization’s demand for marketing automation technology increased over

the last 12 months. Most marketing research firms project increasing budgets

for marketing automation in the years ahead and technology providers

are responding with cutting edge software and hardware platforms to

accommodate the industry need.

Cutting edge technology tools + Process management Discipline Costly manual interactions = Marketing Efficiency

Corporate marketing departments responding to corporate financial pressures are

looking internally at impediments to speed, visibility and profit. The following is a list

of identified operational problems within marketing operations:

• Lack of visibility into work in process

• Poor project management

• Manual processes, such as approvals

• Lack of team collaboration

• Inaccurate or laborious budget and expense management

• Time-consuming report or calendar production

• Low re-use of approved assets

• Poor campaign coordination and alignment of work with strategic plans

 The future is bright for adoption of marketing automation! 

The adoption of marketing automation tools such as Kodak Design2Launch Solutions

have  tackled many of these problems, and enabled marketing giants in the

pharmaceutical and consumer packaged goods industries to make significant

improvements in process efficiency.  Specific functional improvements

include the reduction of process errors and routing time by streamlining such tasks

as campaign briefs, project management, creative review and digital asset management.

• Average review cycle reduced from 56 to 6 days

• Number of status meetings per project reduced by 45%

Amount of rework reduced by 38%

• Amount of time spent chasing down projects and files reduced by 65%

Hard dollar costs from errors and proofing reduced by $1.2 million in year one.

 “Marketing technology adoption is inevitable and thus an imperative.     John Rizzi, CEO, E-Dialog

To Learn more about marketing automation solutions from Kodak visit www.automation.kodak.com.

© Kodak, 2008. Kodak and Design2Launch are trademarks of Eastman Kodak Company.