The Attraction Marketing Concept

Have you heard of the term “attraction marketing” along your travels before? Many people have come across this concept and tried to implement it into their business, unfortunately with little to no results. In today’s post, I’ll be taking a closer look at attraction marketing in the hope that you can yield some positive results from implementing the concept into your online business.

How cool would it be to have prospects lining up to get at what you have to offer, instead of having to chase them for their cash? That’s what attraction marketing is all about, it’s simple, yet very effective strategy that can elevate your business onto a whole new level.

Attraction Marketing Concept:

The concept of attraction marketing begins when you lead with value, instead of with your products, business or opportunity. Your goal is to position yourself as an expert when people come searching for what you have to offer. You then aim to provide value to that person above everything else.

People come online each day in search for experts, mentors and/or authority figures. When you came online to make money, did you search for an authority figure to learn the ropes from?… it’s called mentor shopping. You need to position yourself as a leading expert in your field and have people searching for what you have to offer. The truth is though, attraction marketing is a skill that must be learned, but, if you do put the time into learning and implementing this approach to marketing within your business, you will skyrocket your income with very minimal effort.

The Basics of Attraction Marketing:

The basics are pretty straight forward in theory. In practice though, it can be a little tricky for most marketers, simply because the whole concept of giving value before looking for anything in return is alien to them. Your number one goal should be to ALWAYS provide your prospects with value. Anything else is just going to get in the way. Think of all the big name marketers out there at the moment. Are they providing value? Are they fulfilling a need? Are they experts in their niche? Do they over deliver? Have they got raving fans willing to buy their next product as soon as it’s released?

When your goal is to help people get what THEY want, you will see the very same thing being attracted into your life/business. If I sell a crappy product, I can be sure that customer is not coming back. If I give advice that’s useless and helps no one, I can be sure I will not be attracting people to come listen to what I have to say. I know this all sounds very simplistic, but let me tell you, most marketers out there are looking to make money. Their goal is nothing more than that… and they’re failing big time.

I would much rather give incredible value away for FREE to help people get to where they need to be. Only then can I expect them to come back to me for more advice/services further down the road. Think about the power of this. People are naturally attracted to authority figures and people they know can help them. This is why attraction marketing is very important in your online business. If you are just like every other marketer out there selling products, you will find it very difficult to rise above the noise and stand out from the crowd. You MUST have people searching for what you have to offer, instead of YOU searching for them. Imagine that, having people actively searching for what you have to offer… what a contrast to how I see so many others doing it.

If you provide enough value to people they will come back, tell their friends/family and share your stuff within their social communities. People love to buy stuff, they just hate being sold to. Just give them what they want and over deliver every time.

Important: Attraction Marketing is NOT just about providing great products to your prospects. It has a lot more to do with “YOU” as a person. You need to be a person that others are attracted to. Like I mentioned earlier, people look to authority figures for guidance. You must position yourself as that authority figure. If people trust you, they will listen to you, follow you and buy from you over and over again.

Market Concept Testing – Guerrilla Style

Marketing new products and services is vital for most companies. Many marketers, however, are unaware that fast, low cost guerrilla techniques for market concept testing can easily replace cumbersome market research, saving lots of money and time in the process.

A Simple Model For Strategic Thinking

In order to test a new market concept you need to have one, right? Use this simple, intuitive strategy model for understanding the dynamics in the marketplace you’re considering. At first you simply work through the model applying what you already know or strongly suspect is true about the market. Then you go back and support each and every assumption you’re holding with market data.

– What are the trends in my industry?
– What’s driving these trends?
– What are we currently doing about the trends?
– What are our competitors doing about the trends?
– What could we be doing about the trends to increase our profits?

During this process you’re squarely in the analytical phase of marketing. You’re creating ties between your idea and a market that will welcome or reject it. Do your work carefully at this stage or you’ll wind up with every marketer’s nightmare…a product or service that’s an answer to a question nobody’s asked!

Collecting Unbiased Customer Data
There are a couple of ways to approach this task. It’s recommended that you use both methods so that your information will be balanced between primary (straight from the customer) and secondary (conclusions from experts). The objective here is to clearly understand your WOW! and how you’ll prove it.

The first thing to understand (and many marketers don’t) is that business is a social process. Which means, to do this successfully, you’ll be spending the bulk of your time dialoguing with people…not noodling around on the internet. If the thought of this provokes anxiety you’re in good company. Most people don’t relish talking to strangers but successful people in just about every profession just bite the bullet and do it any way.

Step 1: The Internet Part
To establish a beachhead, and not duplicate effort, spend about 10% of the time you’ve allocated for this project internet research. The objective is to gain a baseline understanding of available information about current offerings and substitutes in this market space. You also want to understand the various marketing and sales channels. It’s especially good to know about substitute choices your prospects could make instead of buying your product. It’s good to look at the whole chessboard, not just the squares immediately surrounding your next-move.

At this stage we’re looking for available industry reports and similar expert analysis of:

• What are the trends in my industry?
• What’s driving these trends?
• What are our competitors doing about the trends?

You’ll find out what’s available by doing these searches:

1. [industry name] or [product/service] or [major competitor], financial analysts
2. [industry name] or [product/service] or [major competitor], market research
3. [industry name] or [product/service] or [major competitor], Hoover’s
4. [industry name] or [product/service] or [major competitor], [name of local newspaper]
5. [industry name] or [product/service] or [major competitor], business news
6. [industry name] or [product/service] or [major competitor], industry news
7. [industry name] or [product/service] or [major competitor], industry experts
8. Run similar searches on your favorite social media in case those entries were not picked up by the search engines.

If something about your subject has been written, pod casted, YouTube’d, tweeted, blogged or discussed at a conference you will find it with these searches. Sift through what you find and plug each piece of key information into the 5-point strategy planning model we’re using. Now you’ll see a shape starting to form around your strategy model.

Step 2: Create A Discussion Guideline
This is what you will use as a guideline in talking with potential purchasers of your market concept. In essence this is the heart and soul of your project. The care and accuracy you put into this step will determine whether your market concept test results are accurate.

These are the objectives:

1. Understand whether your WOW! is really a WOW!
2. Understand industry and purchasing trends related to your market concept…and what’s driving those trends.
3. Establish a view on growth opportunities for your company or division.

We recommend that you structure your guide so that it results in a discussion. People are more likely to loosen up and talk freely about your market concept, and the alternatives, if you’re not reading questions verbatim as in a market research survey. Sketch out five key areas of information that you want. These might include:

• What do you think about the concept I’ve presented?
• Steer them toward their thoughts on advantages and disadvantages.
• Ask them what would make it even better.
• What are the substitutes or alternatives including do-it-yourself and in-house solutions?
• How, when and where do you like to receive information on new products and services such as this?
• Digital
• Traditional (print ads, trade shows, telesales, etc.)
• Colleagues, friends & family
• Where and how would you most like to purchase something like this market concept?
• Steer them toward what’s the ideal venue for them, not just where alternatives are available today.
• You’re seeking every competitive advantage you can get.
• Would terms such as financing influence their purchase decision?
• Who is the final decision maker and who else is involved in making a purchase decision? Refer to your notes on complex sales and remember that large consumer purchases can often involve multiple decision makers and influencers.

It is critical that you not approach this exercise with pre-conceived notions of what your company can or can’t do. You simply want to visualize the best possible purchasing scenario for your new market concept. You can parse internal strengths and weaknesses later. Do not base a go/no-go decision on your weaknesses!

You may think of many other categories of questions. Just remember that most people will limit your time with them to 15-30 minutes so keep the number of categories low and focus on going deep in each category. You can always substitute different categories in subsequent calls with different people. Again, after three or four calls you’ll have a much better idea of which categories of information are the best for your purposes.

Step 3: Create A List of Potential Customers
The next is interacting directly with your market. This is a hugely valuable exercise for product managers, marketing managers and marketing leaders. You’ll learn more about your market concept in a day of doing this than just about anything else you might choose to do, including conjoint analysis and focus groups.

The objectives for this stage are:

• understand who holds the knowledge you need
• understand the role each influencer will play in a complex sale
• understand where, when, how and from whom they get their decision influencing information

The people you need to talk with can hold one or more of the following roles:

• Decision maker
• Influencer
• Approver
• User
• Deal killer

With some products and services, mostly consumer products and B2B products costing less than $1,000, you’ll be talking straight to the decision maker. With most other products and services you’ll be talking to the decision maker plus one or more of the other types of buyer. If you’re not familiar with the mechanics of a complex sale you’ll need to pause the project until you’re caught up. Just do a search on ‘complex sale’ and you’ll find what you need to know. This is critical for B2B and higher-end or more complex consumer products and services.

Your objective is to talk to at least 100 people who have direct influence on the purchase of this market concept you’re testing. If you’re testing a consumer concept (for example tax preparation software) start talking with people in your circle of influence including friends, family members, colleagues and professional contacts. You will qualify your research participants based on who prepares his/her own taxes and whether a software product is used. Once you have the list and their telephone numbers you’re ready to move on to Step 3.

If you are testing a B2B market concept you must go straight to the companies to whom you’ll be selling your products or services. You may have a few contacts in these companies but you’ll spend the bulk of your time talking to people you don’t know. Be up front about your mission and never disguise yourself as a student doing research for a term paper or project. Just be yourself and be honest in describing what you’re doing.

If you’re cold calling a company start where you can get a foothold. If your market concept is a new and better alternative to traditional inventory control systems in mid-tier manufacturing companies, likely you will be talking to people in logistics, purchasing, operations and accounting. Go to the company’s website and list the names of key people in those functions if they’re identified. Then call the main number or department number, if listed, and ask to speak to that person. You may get through or you may not. Regardless of whom you talk with, even if it’s the main switchboard operator, just give him/her your 25 word elevator pitch on what you’re doing and ask who they’d recommend speaking with.

You will find that after calling three or four companies your comfort level will rise dramatically and you’ll start getting through more often to people who have the information you need.

Summary
This sounds like odd work for marketing people doesn’t it? However the advantages of this approach are many.

First, it gets marketing people immersed in the marketplace. This is far better than the superficial practice of having marketing people shadow a sales person for a day or two once a year.

Second, it gives marketing people an affinity for the role of the sales team. It helps them understand selling so they, in turn, can work with salespeople on devising strategies to overcome resistance and objections.

Third it gives marketing people solid confidence and much more enthusiasm for introducing new concepts if they have discovered the marketplace dynamics and purchaser habits and practices. This confidence will spread to other areas of the company, giving the marketing and product teams more support than they would have otherwise.

So yes, it’s a truly different approach but it’s highly effective and takes a lot less time and money than traditional market research.

Case Study
A startup company in California has a new market concept for virus protection solutions for iApp (applets for Apple’s iPhones) vendors. This startup is reluctant to spend $50-100K on formal market research so they’ve decided to do the project in-house.

They plan to assess the current competitive landscape for iApp virus protection by:
• Conducting a search for iApp virus protection vendors, if any
• Interviewing a small number of current iApp creators
o Do the trends they’re seeing suggest a market opportunity for our concept?
o What do they know about current solutions on the market?
o How would our offering solve a current problem or pain point better than other offerings?
o What would they pay to solve that problem or pain point?
o What level of disruption or complexity can the organization handle for installation and testing?

Next, the startup will assess current substitutes for their concept. They’ll do this by conducting a search and gathering product specifications, distribution models and other key information for each of their potential competitors. Some of this information they will already have from collecting customer data from the internet and other resources they used. The rest of it they will need to go after using the same information gathering techniques. These are some possible insights gained from their efforts:

• Their new market concept would need feature adjustments
• Their new market concept would be targeted at iAPP creators only
• They can lean heavily on digital marketing rather than traditional marketing
• A utility pricing model (pay based on consumption) would give them a strategic advantage
• A unique guarantee would give them a strategic advantage
• Acquisitions would not be a source of competitive advantage near term

The team now has enough information to make a go or no-go decision. If it’s a “go” the next step is to make sure there’s plenty of money in the bank, or coming in, to fund development and commercialization. Before the software writers kick in, though, the team needs to create a marketing requirements document and a commercial release process to make sure they won’t run out of money before sales revenue kicks in.

How to Benefit From Renegade Network Marketer Concept and How Network Marketing Works

It is very easy to become an independent distributor for any MLM company; the challenge is recruiting a sizable organization to generate income. Building a network marketing business is getting more difficult; as it is getting very competitive because there are more companies enter into the market everyday. To become successful in this business, you need to be prepared mentally and emotionally to overcome all disappointment and rejections associated with prospecting and sponsoring.

If you want to be champion of this business, you must prepare to explore different prospecting and leads generation methods.

By exploring these three methods, you will be able to add 20 to 30 new reps a week to your business…guaranteed! As long as you are prepared to work out the concepts, you will be able to get a predictable result

(1) The Magnetic Sponsoring Concept

In order to stand out from the crowd, you must be different from others. You need to brand yourself so that your prospect can differentiate you from others. Magnetic sponsoring is all about branding yourself as an expert in any MLM company. You need to decide how you want to brand yourself and focus on building that brand. This system applies the concept of all successful marketing company has a brand that their customers can associate to. Instead of you chase after your prospect, you prospect looks for you. You are being hunted rather going everywhere to hunt for prospect. This is a major shift in paradigm as most MLM companies will train you to become a skilled “head hunter” to hunt for your prospect. This concept is founded by Mike Dillard who started as a waiter and within one and a half years, turned his network marketing business into a million dollar business because he ‘cracked the code’ to network marketing by finding a way to generate leads and turn those leads into money. In this system, you make money regardless your prospect joins your primary MLM business.

(2) The Renegade Network Marketer Concept

This is a concept that goes against the grain of what most traditional network marketing reps know. The network marketing newbie learns all the skill from his up line mentors and his mentors learn it from their mentors. Methods such as building a list of names by searching the directory of mobile phone and gather name cards that collected years ago, meeting up with strangers, approach anyone who is 3 foot around you(3 foot rules), approaching dead beat leads are all outdated methods are considered obsolete. They practice new ways to bring in leads on the Internet and although this concept is shunned by old school network marketers, it has brought results to many people who embrace their techniques.

(3) How Network Marketing Works

How Network Marketing Works is a step-by-step system that teaches network marketing reps how to generate leads using the Internet. This course is very comprehensive as it teaches people how to tap into Internet marketing traffic generation methods. Topics include how to build powerful lead capturing pages, how to use ready written network marketing articles to drive traffic and different ways of list building methods, the training consists of audio courses and video courses that teach you everything about lead generation in network marketing. The courses also coach you how to write persuasive emails and get people to buy your offers.

Regardless of which method you decide to use, it is very important to take necessary actions and not to give up before experiencing success.

Please remember that thing which we persist in doing becomes easier to do, not because that the nature of the thing has changed but our ability to do has increased.

Small Business Must Develop a Marketing Concept

In college classrooms business students are being taught marketing concepts. To develop the same for your business owners need to analyze what their customers needs. Take those needs and fulfill them better than their competition. This simple statement can get very complicated today. Find the answer and you have developed your very own marketing concept.

Companies have the ability to find out what their customers are thinking easily these days with the internet at their fingertips. Remember your competition has access to the same information. This gives small business the ability to compete with the corporations on a local level.

Companies can find out the competitions weak spots by going to sites like yelp. Yelp gives customers the ability to tell the world about their experience with any business. Larger companies can no longer hide behind their automated customer service procedures.

Customers need to remain a small business’ focus at all times. We have all had the customer that no matter what you do they are unhappy. Through developing a good internal marketing concept keeping the customer as the main focus. Most of these situations can be avoided. Corporations tend to watch their balance sheets and do not have a good understanding of customer service. The internet has empowered customers to get satisfaction.

The very best place to start is to ask what do customers want? The answer may not be as simple as you think. Once you have the answer you need to find a way to build your business with this end result in mind. You are developing a marketing concept that will keep your business thriving. Unhappy customers can bankrupt a business. Happy customers will make it thrive. You will realize a greater profit over time.

Everything and everyone in your company should keep customer satisfaction as part of their responsibilities as an employee of your business. This is where your company can really shine in the market place.

Customer issues should never be passed over by an employee as some other persons responsibility. Your entire company exists for one reason your customer. Customer satisfaction should appear seamless and a company standard to your customer.

When you are developing your marketing concept the main focus should be on the customer. The other factors that you should take into consideration are product decisions. Ask yourself if the product is what your customer wants? Is the price within the price range of your customer? How will the customer receive the product? How will I promote the product to my customers?

When you know the answers you have developed a marketing concept that will work for your business for many years. If you find a problem fix it and your business will thrive.