Here’s a revolutionary thought: The direct selling industry invented social marketing. Yes, you were the first. Way back in the day, you learned to monetize “social currency” by recommending products to people through personal relationships. You are the analog version of social marketing. Let’s call it Social Marketing “1.0.”
More than a year ago, I received a letter from Susan Stratton, who shared her journey of personal development as she embarked on a career in direct selling.
Here’s something that comes up in executive meetings all the time: “Why are people saying bad things about us on the Internet, and what can we do about it?”
In this highly competitive, oversaturated marketplace, establishing and maintaining brand equity is crucial to differentiating your products from the pack and ultimately assuming a leadership position. According to businessdictionary.com, “brand equity” is defined as “a brand’s power derived from the goodwill and name recognition it has earned over time, which translates into higher sales volume and higher profit margins against competing brands.” In other words, it’s a company’s value based on consumer perception. In the world of direct selling, brand equity not only lets consumers know what a brand stands for and what they can expect, but can also instantly open doors and start conversations for the salesforce with potential customers and prospects.
For more than 25 years, I have been fascinated with the world of success. I know many people share that fascination, but mine has led me to voraciously study the subject beyond virtually anyone I know.
In my travels of working with clients and discussing dietary supplement product development and bringing these new products to market, I often encounter a multitude of questions. Most of these are common questions or concerns about the product itself, such as: “What new and unique ingredients are available?” “Will this item create excitement in the field?” “How will this product benefit our distributors and end users?”
Shipping costs continue to be a major cost component in a company’s overall supply chain costs. Furthermore, shipping rules and regulations continue to increase in complexity, and costs continue to increase every year. Oftentimes, companies either absorb these costs or pass them on to distributors who are struggling to manage expenses while building a business. In addition, shipping policies and costs may directly impact a company’s sales and its ability to recruit and retain distributors.
There’s nothing like the fresh enthusiasm and energy new distributors bring to the business. Besides the fact that their sales and recruiting efforts create growth, their mere presence inspires and re-energizes those around them to do more as well. Needless to say, new people are truly the lifeblood of the business.
The creators of direct selling companies and their CEOs and executive teams who lead them hold the key to the resurgence of capitalism in America and beyond. Those who have invested in the enterprise of direct selling must always be reminded what an important contribution they make as they teach the free-enterprise system and individual personal development.
Neuroscience is a field of study that deals with the structure, function, development, genetics, biochemistry, physiology, pharmacology and pathology of the nervous system. The study of behavior and learning is also a division of neuroscience. It is a relatively new science. During the past 20 years of neuroscience, research has given scientists and psychologists a better understanding of the ways people act and respond, both consciously and subconsciously, to their environments. Imaging technologies, such as functional magnetic resonance (fMRI), positron emissions tomography (PET) and brain wave analysis technologies, such as quantitative electroencephalography (QEEG), have allowed science to open the door to better understand the mind. One of the major application areas of the behavioral component of neuroscience is business.