Making Money Online: It's Possible

This morning I was listening to the news and it was depressing: unemployment, protests, war – it’s no wonder why I avoid the news.  But for Internet marketers, this is one of the best times in history to make money online.  Thanks to Internet enabled devices and a hunger for online products, information, and expertise, the market has never been better for making a living online.    

I can tell you that most of us who are marketing today didn’t have a lot to start with.  In fact, many of today’s “super affiliates” are young guys in their 20’s and 30’s who started from scratch.

Personally speaking, I’ve had to deal with many of the same obstacles when I first started promoting products and services online as newbies face today.  But with some experience and a good deal of trial and error, you can make small distinctions that can dramatically improve results. I’ve learned the hard way that you can’t be an expert at everything.  As such, I’ve worked hard to build my network or mentors and resources to learn what works and what doesn’t.  Whether you’re connecting with people via an Internet marketing forum, global success club, or mentor network, it’s easier than ever to find people who can help you overcome many of the obstacles associated with being an Internet marketer.  

Generating Profitable Campaigns

If you’re doing any online advertising, it’s incredibly important that you focus on Return On Investment (ROI).  I’ve learned that maximizing ROI is as much about managing expenses as it is generating revenue.  Working with a mentor or someone who’s already running profitable online campaigns can help you improve your results.  This is especially important when you’re just getting started. If you’re barely managing to break even on your campaigns, the best way to turn it around is to model those who are marketing profitably.  The best, and fastest way to do this, is to find a mentor or network of like-minded people who are already getting results.

One of the techniques that I’ve used to generate profitable campaigns is to focus on small niche markets.  A popular mistake that Internet marketers make is trying to be all things to all people.  If you think you’re going to strike it rich with an info product your first time out, you’re mistaken.  I’m not saying it’s possible, but the odds are certainly against you.  There’s a much better chance of earning a profit if you build a house list around a specific topic (ex: piano repair) and have a specific unique offer.  Your mind should naturally be focused on cornering small markets if you want to succeed.  

Another example would be if you’re looking to promote an information product about dating on a small budget.  First you need to make yourself familiar with the niche markets where it would be possible to generate some profit with highly targeted and low volume, campaign.  Those niche markets might be “Single Parent Dating”, “Dating 40+”, etc. …these are all great distinctions that you should be making before you jump the gun and invest countless hours without any positive return.

Learn From Others

Networking with or leveraging the lessons of heavyweight affiliates is the primary key to success for those who are just starting out in online marketing.  If you can’t compete with their large budgets, compete on a smaller scale.  Don’t try to attract the entire market, focus on a small market niche. Focus on the details!  Many of the top-earning marketers don’t have time to focus on these small markets, meaning there is still money to be made.  This is your opportunity to own a small territory that others aren’t able to cover.

It’s important to make every penny count while you’re still dealing with a small budget.  Look for ways to partner with influencers in your niche through products, interviews, and other content that might add value to their websites or blogs.  In my opinion, it’s really no longer possible to fill your boots with overnight riches by going straight for the kill in huge mainstream markets. You need to operate on the borders, obtain profit where the markets aren’t so flooded, and dig deeper to grow your business.  

Not only is it important to grow your business but growing yourself as a person and Internet marketer will ultimately reap huge benefits for your business.  From my personal experience learning from others has helped a great deal.   I encourage you to work with others to improve your knowledge and mindset.  Learn more about entrepreneurial networks at Global Success.

7 Strategies For Effective No Cost Marketing

I've been having a lot of discussions lately about no cost marketing. With so many small businesses and people trying to make it on their own, the idea of no-cost marketing is pretty appealing to me and I'm sure it is to you as well. 

In this post, I'm going to provide you with 7 of my most effective strategies for promoting your business, website, or blog with little or no money. Here we go. 

1. Guest Blog Post. If you have some expertise in a given field, I recommend reaching out to a number of different blogs in your niche and offering to write a guest post. Online marketers are busy and are always looking for good content. Do the research, find a blog that you can write for, and offer up a 100% original guest post. This will save the blog owner time, provide something of value to his audience, and give you exposure. 

2. Focus on Organic Search Rankings. Get a good book on SEO (ex: SEO Made Simple) and learn how to optimize your website or blog. If your site comes up organically for a variety of different keyword searches, you'll start to receive quality traffic that can fill your funnel. Organic traffic costs little or nothing to generate - just sweat equity. 

3. Leverage social media. Integrate social media icons on your website. I know this is simple but there are tons of direct to consumer and b-to-b sites who haven't taken the time to add TweeMeMe buttons, Google +1, or Facebook Likes. Each time someone redistributes your message, you access their network as well as your own. 

4. Build a list. One of the most effective marketing practices is building a house list. There are many ways you can do this but one of the best is offering something of value in exchange for a valid email. Use an email form to capture email from website visitors in exchange for a free download. House lists are the most responsive and you can engage your audience on a regular basis. 

5. Press releases. Distributing a press release is a fabulous way to spread the word about your company, product, service, or website. Writing a press release is easy to do and it can be about virtually anything new regarding your business. Once you have your release, search for free press release distribution sites instead of paying hundreds of dollars for PRweb or other established services. 

6. Blog commenting. Where do you get your news? What blogs are influential in your niche? Start reading and commenting on blogs. Over time, as you build an online reputation through commenting, you can start to integrate information about resources you offer. This takes some time but can help divert traffic from well known sources. 

7. Forums. Start visiting and contributing on forums. Whether you ask forum members for advice or feedback, building a reputation on forums can lead to valuable inbound links to your website as well traffic. Whether you have a large marketing budget or none at all, there are a number of options to promote your business that wont cost you a dime. 

Think through the opportunities you have to leverage your current web assets and information you have to attract new users to your business or website. The key is to always try new lead generation methods and build on your successes. If you have additional no-cost or low-cost marketing tips, be sure to comment!

The Changing Kiranawala!

80 Lakh Kirana outlets have been a number constantly quoted in various studies as the first consumer choice for shopping across India. They have distinct advantages that are obvious now; convenience, extension of credit, home delivery & leveraging personal relationships. But threats from outside & inside have ensured that they have evolved rapidly over the last 5 to 10 years.

Outside-threats are of course, the imminent opening up of the retail sector by the Government, with the introduction of 100% FDI in this sector. Opposition or not, perception is that the sheer size of the wastage our supply chain faces currently, will reduce once foreign players are in full-on.

Now, coming to the changing face of traditional retail, there are two aspects to it. One is the adaptation of the Kirana stores in light of organized competition & changing consumer preferences, and the other is the importance with which companies have started treating this traditional channel.

I feel the first aspect is a no-brainer; new Independent self-service formats within Kiranas, computerized billing, stocking niche & imported products, the health angle, a cold storage unit are few of the areas where they have evolved. But the next step is ‘Collective bargaining’ – i.e. when groups of big Retail outlets start creating a semblance of an ad-hoc DC (Distribution center) & start procuring centrally from every big company. They’ll ask for better margins, differentiated service, more visibility solutions; the list will become endless. I’ve seen instances of this concept being tried in a few key metros across India.

Now, lets us examine how companies are approaching this channel. Every FMCG company has realized that if Modern Retail is growing at a phenomenal growth rate, so is traditional trade. The projected numbers from various 3^rd party agencies are quite mind-boggling. Hence focus towards garnering a higher share from within this channel is soon becoming one of the biggest challenges faced by the top marketing minds in this country. 

In my previous article I had mentioned that HUL had already started treating its key Kirana outlets with the same service pack that they are offering Modern Trade. This is one big step towards acknowledging the importance of the oldest channel in this country. Other companies have also started offering differentiated service packs & levels to the top contributing outlets within each market.

Studying visibility as a separate section throws a lot of light on the importance of this channel. Decisions are made at Point-of-Sale; & companies are letting no stone unturned in capturing premium real-estate within these outlets. Shelf level Displays have become an essential part of any company’s strategy, whether they are for a launch, a re-launch, a new communication message, a new variant etc. This fight for this space has automatically made the retailer smarter, whose bargaining power has thus increased significantly. 

But, I still agree that such an important medium for communication is still under-leveraged at this current juncture.

 
To ‘end’ this small anecdote on the Kiranawala, it is very obvious that he/she is a constantly evolving & adapting entity & will continue to co-exist with other formats in many a years to come. The differentiation across outlets within this channel will soon become starker over the coming years, with different clusters of outlets getting formed basis the speed of evolution that each outlet undertakes.

Who are the Blackberry Boys?

Raving reviews of O&M's new look for Vodafone Blackberry users. Now Blackberry services are no longer accessible only to the top & premium segment.

All guns blazing, anyone who can afford it, please access it.

The advertisement in itself, I agree is quite clutter-breaking & different. A group of typical top management executives dance to a catchy tune of being the ‘Blackberry Boys’. Then comes in a guy in summer wear & is followed by many more facets representing the Indian youth populace.

A simple & clear communication that a Blackberry is for everyone.

I agree that the market for smart phones have opened up; & coupled with growing consumerism, many companies have started betting big & spending top money to lure the young Indian.

Nokia is the company getting hurt, their dwindling market share, especially within the smart phone segment has been led by the growth of Blackberry & other competitors.

Now that the context has been set, the question I’m raising here is Blackberry’s strategy. Especially for a high involvement product – a smart phone costing upwards of 10 grand.

The manager who is paying top rupee to purchase the phone with the most gizmos & easiest access to business usage will now have his favorite Blackberry Bold being used by one and all. 

How is Research-In-Motion (RIM) differentiating between these varied sets of target groups by launching an umbrella Blackberry campaign?

Nokia had successfully managed to do the same by having extensions for their various consumer segments & price points. But within Blackberry these distinctions do not seem to come out that strongly. 

Not to say that Blackberry needs to go the Nokia way, but just to bring about the argument that it is easy for a smart company to take Blackberry’s place in the premium segment.

I thought maybe a HTC, but their recent strategy seems to be nothing in line, it seems like all the companies need their phones to be sold to anybody & everybody who can buy them.

Maybe something as basic as Targeting needs to be relooked.

Has Shopping become complicated?

Published article in Point of Purchase Magazine - Feb '2011

Who says shopping isn’t complicated? With the number of variables being plugged into shopping every day, it has become an art & a science both for the Shopper & the Marketer.

But, who has made shopping complicated?

In the current Indian scenario of such intense competition, the rate of change is constantly pushing new limits. Just a couple of years back, an Organized Retail in-store innovation used to make marketing headlines & office talk across companies. Now, they all seem common place. Every week, companies are fighting for space & retailers are auctioning it to the highest bidder. As the End-cap prices sky-rocket, brand managers need to innovate constantly in-order to engage the shopper just that little bit extra.

The options for a typical middle / upper-middle class urban household meanwhile are ever increasing. The phenomenal success of malls & multiplexes, irrespective of their high-end pricing speak for themselves. Shopping behaviour is changing & fast, led by: rising household incomes, brisk entry of more foreign players, a younger India & penetration of technology. For FMCG in particular, it is predicted by booz&co. that 30% of total trade will come in from modern trade by 2020. 30% across India would mean a number in the range of 70% for Urban India.

The Concept of Shopping thus has & will continue to become more complex, especially for the Marketer.

Almost every FMCG player has accorded special focus towards the Modern Trade format & has infrastructure & managerial capabilities dedicated towards this channel.

What about Traditional Retail or General Trade as in FMCG parlance? Companies are realizing the potential these 8 million mom-and-pop stores provide. Currently and in the near future, they will continue to remain the most preferred format for a majority of Indians.

A leading FMCG company for instance, accords the same importance of a Modern Trade outlet towards all of its top Grocery turnover mom-and-pop stores. The same margins, the same schemes and the same quality of dedicated merchandising. This is the future, the evolution of the so-called unorganized sector. ‘Necessitated by the local retailer’s need in face of competition, but driven by the various FMCG players in the industry.

As a fundamental consequence, this leads to a multitude of options for the Shopper. They are spoilt for choice even within their conveniently placed local Grocer.  Has this led to Shopping becoming more complicated? Well, it has certainly become more attractive for the Shopper.

Let me cite the case of private labels in Modern Trade. Two of India’s leading Food Retail chains both have private labels placed right beside popular brands from established market players. These private labels play mainly on the ‘significantly lower price’ or on the ‘higher weight for the same price’ angle. A typical Middle class shopper might get severely conflicted during purchase in many low involvement categories, thereby playing into the hands of these private labels. 

A shopper thus starts to assimilate more & more information on price & weight (ingredients, freshness, freebies etc.) comparisons thus leading to the point of inflection in the brand vs. price trade-off. Ultimately the simple decision of buying a Floor Cleaner now involves a complex matrix of numbers & scientific text.

Challenging times in Shopping behaviour ahead, ‘the more the merrier’ seems to be the ‘shopper’ mantra till date, as the ‘Marketer’ continues to grapple with building capabilities to tackle the same.

The Mysterious Games we Play

It was a complete Mystery; I was flummoxed at the news article after reading it, ‘HUL foxes P&G through successful Ambush Marketing’.

It was a great outdoor marketing campaign by P&G in Mumbai, and I think it did get foxed and frustrated by HUL, but the outcome of the whole melodrama that followed is still uncertain.

There were huge outdoor hoardings, model bus-stops, and full page print ads by P&G to create excitement over Pantene and its new packaging. Carefully ironed out, or so P&G envisaged. It was too open to attack, and Dove took the bold step and stepped into the fray. Kudos to HUL for getting it done ‘within a day’. I think it was more of a, ‘done within a month’ than ‘a day’. Competition intelligence as they call it, has definitely come into play here. HUL was waiting for the bait to get hooked on. But still, a campaign rolled out within a few weeks is commendable. (Brand executives would concur)

But did it achieve anything for HUL? Brand connotation with the ‘Mystery Shampoo’ is and will always be Pantene; Dove did nothing to change that.

All that HUL visualized was a retort back at P&G through the necessary buzz within everybody’s mind. They achieved the buzz, but inside the marketer’s head. The consumer was left lurking during the delivery of the Dove message. (‘There is no Mystery, Dove is the No.1 Shampoo’)

Marketing circles were talking about it for weeks, I should know, I was there. But the real consumer, the actual user of the brand & the product didn’t see any value in the fracas between HUL and P&G.

Sadly, this event might in the short run; temporarily, end such campaigns, where the consumer is kept at the edge of his/her seat before the prized message is communicated.

Betting Big on Celebrity Endorsements

Why do Marketers go for Celebrity endorsements? The reasons could be many; the highest recall among consumers, immediate positive impact on sales, new brand launches and re-introductions etc.

As a few experts put it, the reason could also be one of pure pressure from the top management to deliver on the brand and see immediate results. The pressure is definitely not unreasonable, as in today’s competitive scenario, the number of touch points that a consumer is exposed to, is showing a manifold increase. Hence, after years of meticulous R&D on a particular product, there is a rush on the Marketing side of the new brand.

The valid question that needs to be raised is the rationale or science behind each celebrity endorsement, from the marketer’s angle. From the celebrity’s angle, the rationale is purely one of personal choice or value of contract.

Breaking the clutter within multiple touch points, warrants the Marketer to come up with innovative attributes that will latch onto the consumer’s mind. Unfortunately, this is definitely not possible each and every time, with multiple people handling multiple brands in an organization. FMCG biggies in India have all implemented excellent clutter-breaking media from time to time. But everyone’s had their share of naïve moments.

The prospect of bringing some sense of sanity and consistency into marketing leads to celebrity endorsements. Statistics on the latest survey show that only around 30% of the consumers would consider the purchase of a brand based on a popular face. A higher percentage would associate themselves to a brand, if the celebrity is actually linked to the brand message in some way or the other.

Many pundits are now arguing about the ‘Tiger Woods’ phenomenon, ‘putting all your eggs in one basket’. Whether the associated brands have been affected or not, is debatable. Only Gatorade, would have suffered an immediate impact, due the withdrawal of an entire range of ‘Tiger’ branded drinks.

In India too, many brands solely run on the back of successful celebrities, the flip side would be a ‘Tiger’, but the positives weigh much more than the intangible probability of the brand getting hammered. Especially in light of Brand Managers changing almost every 2 years.

The only simple mantra, can be to stick to one’s ‘Brand message’ atleast for established brands, irrespective of the celebrity or non-celebrity route, Airtel is a good case in point. For new brands like Max, Karbon & MicroMax (IPL), ‘celebrity’ power could be the only way forward in a highly competitive category like Mobiles.

 This post is a consequence of the Brand Equity article on Celebrity endorsements.