Promotion in Network Marketing on any social media platform, like Twitter or Facebook is like advertising on anything: it requires a clear approach and a way to measure results.
Back in 1998, while testing network marketing advertising online, I earned over $10,000 per month by advertising and promotion network marketing products online. Since then, I have become a multimillionaire and residential winning strategies in advertising and marketing for all types of businesses. I’m about to share some cool secrets and some of these strategies that have made made me a successful marketer.. if you are smart, you will read this and take many notes and then go an put these into action in your own business!
Network Marketing Distributors typically have at least two source of revenue from their industry:
1. Earning an income from retailing directly to clientele.
2. recruit and establishing a downline to leverage their marketing plan.
This blog series will work with ANY type of network marketing business and show you specifically how to market and advertise your products and business opportunity online using Twitter, Facebook and Google with success!
A Brief lesson in advertising:
I’m going to be covering some common advertising terms in this article and it would be helpful for you to actually understand what I’m saying here if you are planning on really learning anything here! When spending money on advertising, whether it is online or using traditional media (i.e. Radio, TV, Print), you want to know how effective your advertising is and what your return on investment is right? Well, if you are not a dummy, the answer is “of course”. So here are some terms you need to know:
CPM = Cost per Impression: This is how repeatedly your ad was “displayed” on an ad partner/affiliate website.. this really means cost per “one thousand” impressions. You know those neat little banner ads we all know and love, that you see on any given site, like MSN.com, etc? The advertisers who pay for those ads pay a fixed amount for every 1000 times that little banner ad is displayed. The immediate (but not the only) way to measure the performance on this ad type would be how many clicks this ad generates. It may sound like a relative bargin when you see offers on CPM networks for five bucks to display your ad a thousand times, but if you only get a handful of clicks, chances are, you are going to lose money here.
CPC = Cost per Click: This is the genuine cost to generate one “visit” to your site.. this is NOT a lead! Just any joe blow who clicked or responded to your add and landed on your website, is considered a click. The immediate (but not the only) way to measure the performance on this ad type would be how many leads this ad generates compared to clicks. The most important thing you need to do here is make sure you have a proper way to track the “clicks to conversions”. Most ad companies have little snippets of code that you can add to both your landing page as well as the immediate page after a lead has submitted their info. Without this level of tracking, you might as well throw your money away.. or just go watch the Price is Right and send me your money..
CPL = Cost per lead: As the name implies, this your actual cost to generate a “lead”.. remember, this is NOT a sale! This means this is the actual cost to get someone to fill out their info on one of your lead capture pages. Your CPL is measured by the conversion of a click to a lead.. if you are properly tracking your clicks as well as lead form submissions, you will have a percentage of clicks to leads. example: 20 clicks to 1 lead = 5%. Cost per lead = CPC/Conversion, so lets say in this example, one click costs .50… divide that by your 5% conversion and you see that those leads are costing you about $10 bucks each. This is critical to know, especially as you look at your tracking further down your sales and recruiting pipeline.
CPA = Cost per Acquisition: This is the total cost for you to generate a sale or acquisition. If you are recruiting, this would be a measure of how many leads did it take to sign up a distributor. If you have kept track on your lead costs, CPA = number of leads * the CPL / number of distributors. So, using the example above for CPL, let’s say we generate 100 leads at 10 bucks a pop and if you are on top of working your leads, you sign up 10 new distributors. CPA = 100*10/10, so you have a cost per acquisition at $100 per new distributor.
ROI = Return on investment: At the end of the day, for every dollar spent on any advertisement, how much money did you make. Now, with network marketing, there are a lot of things to consider when calculating this. If it’s a single product sale and that’s all you ever get, then that’s it.. however, if you are a good distributor and you are following up with your new customers on a weekly and monthly basis to make sure they are getting the results that they should be getting, you will have repeat orders as well as referral customers. Obviously, if you have this ongoing stream of orders from one customer, your ROI just keeps getting better and better! The same applies to recruiting.. if you sign up a new distributor and you are on top of your followup and mentoring this new distributor properly, the number of new customers and distributors that one distributor can bring into your organization is almost limitless, making your ROI go through the roof!
Conversion = You should know the conversions for every aspect of your advertising campaign.. Cost per Impression to Cost per click, Cost per click to Cost Per Lead, Cost per Lead to Cost per Acquistion, etc. If it is possible to measure, you need to track it. You will find out, not all advertising sources are equal and you should have some established baselines for every ad type/source. This means your banner ads will look completely different that what google adwords when it comes to overall ad performance and ultimately cost per acquisition.
So let’s put this altogether and see how this works in real life..
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