The 5 P’s of Marketing Your Business

Marketing has traditionally been defined by the “Five P’s”

  1. Product
  2. Price
  3. Place
  4. Promotion
  5. People

Most of the time you can hear marketers saying we need to get the right product at the right price, at the right place and at the right time. Success in home business comes from offering a quality product or service to a target market, which is a group of customers a business has decided to aim its marketing strategy. I call it your Niche and don’t forget, Happy customers will become repeat customers and will stay with you depending what business you are doing.

1- Product:

A product can be either a tangible good – physical asset such as land, equipment or goods or an intangible service – nonphysical asset such as a trademark, copyright, coaching training. You need to find the right product for YOU. You have to identify yourself to this product to be able to sell it and get your audience to believe YOU. As I always say, you need to be the product of the product to be more authentic. If you do your own product, the appearance and texture is very important. Do some research for the labeling, packaging and test it well before you put it on the market. You don’t want to invest in machine and not being able to use it because your product might not have all the requirements for legalization and shipping in your country.

2- Price:

The price should cover your cost to produce your product, with the shipping cost and taxation and get some profit. Be sure to check the market and prices from your competitors. If you do a multilevel marketing, the company will give you the price but I would recommend you to see other companies with similar products and see if the price match to stand out from your competitors. Same with your compensation plan, try to get a business with a plan with loads of benefits. Price influences target audience, check which type of population you want to target.

5ps3- Place:

How are you products and services distributed? This is important that you know where your products are coming from to make sure you can provide with a right time for delivery. The distribution system is very critical. If you customers wait too long, they won’t order a second time. You target audience need to feel comfortable using your services if you have to use a third party to deliver ( auto-responder, programs,..)

4- Promotion:

How are you going to provide information that will help your audience to choose if they want to take advantage of your services or your products? Promotion includes elements like advertising, social media marketing, e-mail marketing, SEO marketing, videos and the list can go on… You need to take it in consideration when pricing your own products. You need to maximize your ROI (Return on Investment), so be aware of your marketing strategy before you do the pricing. Of course you have free advertisement, word-of-mouth advertising that should balance your promotion costs.

5- People: 

Who is doing your product? Who is helping marketing your product? If as an affiliate, who do you have in your team? Can you trust them to be as ethical as you? How is the support from the company you represent is treating your customers? All of that has to be taken in consideration, because you can have the best product, the best compensation plan but if your customers encounter some problems and rudeness on the other side of the phone, or email, you are going to lose them. Nowadays there are so many products, and online businesses, the competition is very strong so try your best to avoid any complaints. Know your business, trust your company and don’t lie to your clients.

By following the “Five P’s”, you will reach your goals and provide the right product, with right pricing for your Niche. Develop well your marketing strategy and be always on the look out for new products, change and evolve with the market needs. With the growth of social media, something you might promote today with one platform might be different in a year time. Same with your website, you need to keep the dynamics and see what is effective in time. You can do some survey from time to time with your customers and see what they are looking for.

Leave me comment, share and like if you got some value. Contact me if you want to connect and get to know me more.

(Source of 5 P’s Here)

Kathy


5 Top Video Marketing to attain your objectives

It’s no secret that the use of video in content marketing is on the rise. And, it’s certainly not a tactic to be taken lightly. In fact, YouTube is now the second largest search engine on the web.

Video Marketing increase customer conversions by at least 64% because of  strong emotional connections. Also the retention rates is higher than text, you’ll have a higher engagement and strong consumer attention.

Video Marketing is already 80% of all online traffic, and if you don’t use video, you are left with only 20% of traffic.

What are the best type of videos you can do to attract more leads and sales?

  1. The Review Videos: Before you buy an item over the internet, you check out the reviews aren’t you? Well your customers are doing the same. Most people would watch a video of testimonial or a review before buying anything. A great review of a product or service, can bring great engagement –  they can comment, like. Your audience will give their opinions which is great to make decisions. When doing reviews do it with full transparency, no pitching and no selling. You can do also review videos about your lifestyle, a movie; it doesn’t have to be about your product or service
  2. Training videos: It is a great way to build your authority, provide value and your followers will see you as an expert. It can be a backoffice training or a general training about attraction marketing/social media. Don’t be shy to provide value even if you are just after starting and learning something new, don’t be afraid to share it, you already know more than most people.
  3. Webinars: Most marketing webinars are lead generation tools that provide free, valuable information in the hope that participants will see the need to upgrade to paid products or services offered by your company. It is a great way to engage live with your audience and be seen as an expert with more exposure.
  4. Reality Videos: This type of video will allow your audience to see who you are in real life, and that you let people into your world. It is very easy to create, right at the moment. You shouldn’t talk about your business on these videos and should be around 3-5 min. If you are partaking an event and want to share your experience, just talk about your feeling and not about the company/benefits etc… It needs to be natural and authentic.
  5. Last and one of the most important Promote: Don’t think that letting your video on youtube without promoting is going to work. You can’t create them, post them and forget about them if you want to see results. You need to share it on social media, to your mailing list, Youtube subscriber list and you could also use paid ads.

The best branded video clearly engages users, provides value, and presents a direct and compelling call to action. Consumers Invest in Emotive, Relevant, Authentic Videos.

Let me know if you got value, but remember a social media marketing plan is never permanent. It will always evolve and change as your business grows and you learn what does and doesn’t work. Reassess from time to time and make the changes on your funnels or ads if needed.

Cheers

Kathy


Criteria to consider when choosing an affiliate offer to promote

Choosing a new affiliate program or product is not as easy as you think!

If you decide to do the promotion of a product/service, you need to consider some criteria before you join and you send advertisement on social media. You need to bring value to your followers, your audience and your list. You have to find the perfect product, service and talk about it with authenticity and accuracy. It is not because it pays higher commissions that it is automatically better.

 ‘Affiliate Marketing Has Made Businesses Millions And Ordinary People Millionaires.Affiliate Marketing Mybe Your Next Best Career Move.’ – Larry Bussey

Check out these criteria and find the right choice for your and your niche.

1- Is it a product you are going to use yourself? or planning to use (if you just start) ?

People wants to follow your footstep so if you are happy about it, if you talk about it with enthusiasm and sincerity, you will attract people to you. Of course if you just started with your product, or it is a brand new product, you need to share why you want to try the product and why you believe it is the right product for them.

2- Is the company has a good track record?

Do you know the people who brought the product, the leadership. Do you know if they are here long-term and if the company is reliable.  People doesn’t need to be perfect as everybody do mistake so don’t be judgmental if some leaders did before some mistakes but keep your eyes up! Do you know people who knows them, do they have good reputation in this industry. You want to be able to see a long-term investment for you to make sure you are not wasting your time. Ask this question if you like the leadership behind the product, if you can trust them because transparency and credibility is key with affiliates.

3-Is the product a good fit for your list and niche?

This is important because every single list is different and everybody need something different. Example: if you are in health niche, you need to stay with that approach. Your list is only interested with what you always provide for them and in that case it is healthy products that will help them feeling better. You can’t take all the offers around, and there are offers every single day ! and you can’t please everybody and join all the affiliates because your friends are doing it! Now there is a little trick you can use to promote something completely different to your niche, see number 4.

4- Can you create a bridge for the product to make it a good fit for your list

You might want to promote something that is not really your niche. If you usually sell something physical like a product but for once you want to sell something digital or service then you need to create a Bridge page in between you and the offer. See how you can do it:

“Hey, i know i usually promote a physical product but I got introduced to something else that you might be interested to help you pay for the promotion of your website/e-commerce when advertising on Facebook ads. You need money for that!  So I did find this digital product that will bring you a ton of money and help you. I did a free training about how to make money that will help you advertising your current business, and I am waiting for your input.

Be creative, think how you can bring it to your list and share how it would benefit them.

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5- Does the product pay enough in commissions to make it worth your time

Some products give you very little percentage.. check out best sellers on amazon for example might bring you only 5%… don’t spend time promoting these product if you are already very busy and start building your business. You need to justify your time. See what suits you best. You might gain a small amount at the start in some products but then it gets higher if you have recurring customers. So you need to balance what works for you and what is a waste of your time.

6- Is there an affiliate contest that you can rank and show up on the leaderboard?

That is important for 3 reasons:

  • affiliate contest is your report card. You want to get good enough to see your name on the ranking board. That will bring you some motivation and helps inspired you and will show you how you good you are?

    Do it for you… that will push you to better yourself

  • reciprocity… when you are ranking and you do well, you have some ammunition when you want to promote your own product and share it with the company or the person that you did the contest with. Because you brought them money and show that you can work hard, if you start with your own product, you can ask to consider sharing it to their list or checking out your product. It is a higher chance to get a reciprocal contest
  • do it for the cash. If in the contest you get cash, it will help you to invest in your main business. Or you can get a holiday and then share it on social media. That will bring you more followers.

7- Does the product fit your overall marketing strategy? evergreen vs quick launch

evergreen vs quick launch means short-term vs long-term 

Mini sale, short-term sale is perfect when you want to bring urgency and make cash fast. Put a date at the end of the offer and the product you want to use. Your followers will think it is the last chance to buy it. This way of promotion is great for big list  – Use Facebook ad for that

Long term offer stay open all the time. You can use YouTube marketing campaign, blogs. You could get years commitment out of it but also can take some time to make money.

You need to choose which strategy you want to use to get your list following you and getting interested all the time.

8- Would you promote the product even if you were paid no commissions

if Yes you found the right product.. you don’t do it for the money. You do it because you believe in the product and that is something your list, followers are going to feel it and they will be attracted to you, and bring more people to your business.

In Summary, the goal is to find the right product that will fit your list and that you will feel comfortable to promote. Don’t sell product only to make money !!

Got value?? Leave me a comment !!

Kathy