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July 28, 2006
A Free Publication From
http://MyIBizWeekly.com
Copyright ©2006 KDM Publishing
Publisher: Donesia Muhammad
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In Today's Issue:
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>> Welcome From Your Publisher
>> Buzz Marketing - Is It Word Of Mouth (WOM)? by Kim Klaver
>> Ezine Ad Helper Budget Ads
>> To Successfully Obtain Business Capital Every Business Needs
A Coach By Corey Pierce
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Welcome From Your Publisher...
---------------------------------------------------------------
Hello everyone, Great information in today's issue but as I
mentioned last week, I wanted to get your take on those
thousands of adsense sites that are popping up everywhere. Let
me explain what I mean.
I am referring to those sites that when you are searching for
something in a search engine or you see a link that can help
you, you click on it and instead of finding what you are
looking for, you see a page filled with adsense ads and no
content.
Just more links to more adsense ads.
That is so annoying. There seems to be a lot of that going on,
I understand that people can make money with adsense ads but I
don't feel it should be the main focus of your site. Sure we all
have adsense ads on our site and other text ads, but people
still use the web for one big reason, information.
Information needed when you want to buy something, information
for research, information to help make their lives easier.
I would love to see those sites who have content on the sites,
not the same old Private label rights articles that has not
been edited in any way.
So what is your take on the adsense sites?? Send me your
feedback here
mailto:owner@myibizweekly.com?subject=adsensesites
So enjoy today's articles everyone, hope you learn something
Publisher and Editor:Donesia Muhammad
http://MyIBizWeekly.com
Questions or Comments
mailto:owner@myibizweekly.com
---------------------------------------------------------------
Buzz Marketing - Is It Word Of Mouth
(WOM)?
---------------------------------------------------------------
by Kim Klaver
Some people say that they're the same - word of mouth and
network marketing.
Tom "Big Al" Schreiter, for example, has taught for years that
recommending your product or business is like recommending a
restaurant - only you don't get paid when you're recommending
the restaurant.
While network marketers do speak to others about their wares,
the 95% drop out rate in NM tells me that the "words of mouth"
in NM are somehow not the same. People everywhere still
recommend restaurants, movies and a host of other things to
friends, but most network marketers have given up recommending
their wares long ago.
What's the story here? Why the wildly different results?
Word of mouth and NM are both the same and not the same. Same
in the sense that people talk to each other about things in
both. But there the similarity stops.
Many marketers (not just network marketers) have latched onto
the phrase word of mouth because it has been the most effective
means so far to market products.
Here's how it's defined in Wikipedia:
http://en.wikipedia.org/wiki/Word_of_mouth
"Word of mouth (WOM) is the passing of information by verbal
means, especially recommendations, but also general
information, in an informal, person-to-person manner, rather
than by mass media, advertising, organized publication, or
traditional marketing...
Word of mouth promotion is highly valued by marketers. It is
felt that this form of communication has valuable source
credibility. People are more inclined to believe word of mouth
promotion than more formal forms of promotion because the
communicator is unlikely to have an ulterior motive (ie.: they
are not out to sell you something)...Also people tend to
believe people that they know." (Emphasis added.)
In his eye-opening book "The Tipping Point (
http://www.bananamarketing.com/library.html ), Malcolm Gladwell
discusses those people ("Connectors" and "Mavens") who start
word of mouth discussions that create major marketing
successes.
"What sets Mavens apart...is the fact that [they] want to help,
for no other reason than because they like to help. That turns
out to be an awfully effective way of getting someone's
attention."
He then brings up Paul Revere...
"News of the British march did not come by fax, or by means of
a group email. It wasn't broadcast on the nightly news,
surrounded by commercials. It was carried by a man, a
volunteer, riding on a cold night with no personal agenda other
than a concern for the liberty of his peers..."
And last, he gives a restaurant example..
"And why are the Zagat restaurant guides so popular?..Their
real power derives from the fact that the reviews are the
report of volunteers - of diners who want to share their
opinions with others. Somehow, that represents a more
compelling recommendation that the opinion of an expert whose
job it is to rate restaurants." (Emphasis added.)
The difference, it appears, is in the motivation. Love? Or
money?
In network marketing, many people DO love their products; so
for them, that part of the word of mouth works. But then, when
they come to the money part - the part where the listener finds
out the speaker is selling it or benefitting in some material
way when the other buys - that's the moment the word of mouth
spell is broken. The trust has gone. The relationship has been
abused, (
http://kimklaverblogs.blogspot.com/2006/04/who-else-wants-to-abuse-their-friends\.html
"
) according to tens of thousands of people.
Two suggestions for network marketers:
1. If in your soul, you feel this difference between marketing
and word of mouth like I do, stop telling prospects that NM is
like recommending a restaurant. And don't nag your people about
going to their friends. It likely means they too, have
discovered this difference first hand. Most people would rather
keep their special relationships. It's not worth it to them to
risk friendships by selling to their friends. (See Stella's
story:
http://www.bananamarketing.com/paperback.html in If My
Product's So Great, How Come I Can't Sell It?)
2. Train your folks to ALWAYS tell up front that they are
marketing the product they're talking about. FIRST thing,
before the gushing starts. I don't know of anyone, anywhere,
who wouldn't rather buy from someone who loves their product
line, who uses it, and who wants to make a difference in the
lives of others by spreading the word. We ALL buy stuff anyway,
so that's not the problem. Just don't hide it. You have to
reveal it at some point. So why not do it up front?
NEXT: Buzz marketing - Is it word of mouth (WOM)?
About The Author: Kim Klaver is Harvard & Stanford educated.
Her 20 years experience in network marketing have resulted in a
popular blog, http://KimKlaverBlogs.com
, a podcast,
http://YourGreatThing.com and a
giant resource site,
http://BananaMarketing.com
which features hundreds of stories,
tips, books and CD programs for those who want to learn the art
of network marketing.
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To Successfully Obtain Business
Capital Every Business Needs A Coach
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by Corey Pierce
If you are a business owner the task of obtaining business
capital can be very daunting. Most businesses fail because they
have never been taught how to obtain financing and therefore
they have no clue where to begin. The Small Business
Administration reports that 97% of business loan applications
fail.
The importance of seeking expert assistance when setting up
business credit has many business owners turning to a business
finance coach to help them establish their business credit. One
of the biggest mistakes made by business owners is that they
attempt to obtain business financing using their personal
credit. You should never use your social security number to
obtain business financing. Personal credit has to be separated
from your business credit.
Until your business has three separate business credit scores,
any financing that your business receives will be based solely
on your personal credit scores and your personal assets. A good
example of this would be if you wanted to buy a home, but you
had no personal credit scores. You would get declined, and
funding a business is no different. You need to have business
credit scores established to even get looked at for a business
loan. Having business credit scores established are just a
start in the finance process. There are 20 other items that
must be in place before you apply for business loans.
"Missing just one of the 20 items will get your business
denied," says Finance Specialist James Christy. "If you follow
the steps in a good business finance coach you will make sure
that you have all of the items completed."
For example, Lenders will deny a business loan application if
the business legal name is not listed properly with the 411
Directory Assistance. Another way financing can be denied is if
your business has a bank rating below a low 5 or if your
business doesn’t have credit files open with the three business
credit reporting agencies. Most lenders now require businesses
to have three good credit scores. These are only a few of the
items that must all be in place first before seeking approval
for funding.
The process of establishing business credit is much more
complicated than setting up personal credit. There is one
business credit agency that will try to charge you $500 just to
open your credit file. You do not have to pay it, and a good
business finance coach will show you why you don’t have to pay
it. A good finance coach will set you up with all three
reporting credit agencies as well.
A business finance coach instructs business owners in a
step-by-step format on exactly what they must do to get their
business ready to be approved for financing and how and why to
build the business credit scores they need to get approved. A
coach will show a business how to not only build business
credit, but to build good business credit that the banks and
other lending agencies will use to approve your loan request. A
good finance coach will typically direct you to sources for
business credit cards, vendor lines of credit and for other
creative forms of financing.
To find a business finance coach to help your business build
excellent business credit scores you might go to your favorite
search engine Google, Yahoo, or MSN and do a search for the
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