Grab anyone in the street and ask him/her what's the best advertising method, and he/she will probably tell you it's word-of-mouth advertising.
Over the few decades, entrepreneurs have come up with various means and concepts to improve on sales by changing the way products are advertised. Every physical space that can contain advertisements are sought for. In the past, ads were restricted to billboards, newspapers and the interruptions to your soap opera. Now, advertisements follow where we go, for instance mobile phone, public transport, escalators, laptop lids, and the list just adds on. Advertisements are also more targetted.
Over the few decades, entrepreneurs have come up with various means and concepts to improve on sales by changing the way products are advertised. Every physical space that can contain advertisements are sought for. In the past, ads were restricted to billboards, newspapers and the interruptions to your soap opera. Now, advertisements follow where we go, for instance mobile phone, public transport, escalators, laptop lids, and the list just adds on. Advertisements are also more targetted.
One significant innovation of promoting business is the network marketing or multi-level marketing approach. It was first legalised after a lawsuit victory of Amway International. It plays on the fact that word-of-mouth referral is the most effective form of advertising. The industry has always been tainted with a bad name, not forgetting that some countries even outlaw such activities.
Today, I discovered a new concept. I learnt of this concept from a client. After hearing him out, I realised that actually I had received invitations from some other clients and a few other mailing groups.
Called the Business Network Int'l (BNI Marketing Pte Ltd), it is a platform for entrepreneurs/business owners to gain referrals for their business. The network is segregated into different chapters. Within each chapter, members come from various industries. Once the slot of a particular industry is filled, then no other parties from the same industry can join in the chapter.
The members of each network would gather every week for breakfast sessions to promote their businesses. Each member would be given a namecard holder so as to promote the businesses of other members in the chapter. There is an annual membership fee that (what I heard from my client) could be earned back easily.
Tonight won't be seeing BH... :(
The members of each network would gather every week for breakfast sessions to promote their businesses. Each member would be given a namecard holder so as to promote the businesses of other members in the chapter. There is an annual membership fee that (what I heard from my client) could be earned back easily.
This concept came fresh to me even though it had been around since 1985, an idea born out of Dr. Ivan R Misner. It seemed to be a macro-MLM to me when I first heard about it.
More ideas of promoting will surely surface from time to time. This is how the intellect of human works. But for now, I don't think I'm going to take part in this and would be enjoying breakfast at home.
More ideas of promoting will surely surface from time to time. This is how the intellect of human works. But for now, I don't think I'm going to take part in this and would be enjoying breakfast at home.
Tonight won't be seeing BH... :(
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