The home based business industry has always been appealing to people seeking financial independence. Co-operative marketing can help alleviate some major roadblocks that have seriously hampered many home based entrepreneurs. Co-operative marketing in the context we are speaking of defined is simply combining the efforts of a group of entrepreneurs in promoting a single product or business.
The profits from this arrangement would be split proportionately according to the amount of participation from each member in the co-op. The contributions from each individual could range from money, skills, energy, time and other resources. This would be determined in advance according to whatever arrangement the members agree to follow.
(1) It Should Encourage Teamwork and Community- This is something that anyone who is looking to be successful in any venture can always use. Even if your endeavor tends to be more independent in nature you can always use any support and encouragement you receive from accomplished mentors or coaches or others who may be struggling just like you are.
(2) Your Success Rate Should Accelerate- The promotional efforts of a group of marketers focused on one single business or product line can have a greater more powerful impact than an individual with limited resources. This can speed up the results and the size of your marketing campaigns.
(3) Members Don’t Have To Compete With Each Other- If five hundred people promote five hundred different products, there is bound to be some inevitable competition. Competition is not some horrible thing but it can be daunting for novice entrepreneurs. Jointly promoting a single entity during the launching and building phase of your business can bring many benefits. You would not receive all of the profits but with a fair and equitable arrangement you can still receive a decent share.
(4) It Should Encourage A Niche Product Focus- Network marketing is a very prevalent and popular business model in this industry. A word of caution is necessary here. If the company you represent puts it’s sole focus on the business opportunity itself rather than a niche product of some type you can eventually run into a problem.
The modern network marketing industry dates back roughly to the 1950’s. The companies that are still standing and are billion dollar companies being traded in the stock market all have a niche product focus. Even if they heavily promote mass recruiting, it’s their paying niche customers that stay with them for several years or even decades.
(5) It Should Encourage Individual and Distinct Branding, Growth and Leadership- You have to grow up and fly out of the nest at some point. A brand new business would benefit greatly from a co-operative marketing campaign and it’s community. An established and experienced marketer can benefit as well from any aggressive marketing campaigns but each individual as they branch out further into specific niche products they need to distinguish themselves from others in their industry. They also need to present credibility and expertise for the trust and benefit of their customers. Branding and leadership will reward them individually and their niche customers as well.
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Thursday, October 1, 2009
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