I always maintain that marketing can be done by anyone, and should be practised by everyone in your business. This includes everyone from your own employees, suppliers & distributors, to your investors and even clients. In short, your stakeholders. However, it is often difficult in practise. Trying to attract your stakeholders to be involved in the marketing process can leave you tearing your hair out, due to various reasons such as employees not feeling empowered enough nor having any ownership in any part of the business, to investors not convinced of the product due to poor ROI.
As an Internet Marketer, you face the same challenges in getting the different stakeholders involved in your business. How can you improve the relationships with your various JV partners, merchants or affiliates to help improve the marketing process and results of your products? Can you motivate your employees to actually believe in your services such that they live and breathe it? How do you entice clients into the mix?
Employees
The easiest, but most overlooked way, of involving your employees is to treat them better! When you manage your employees well, in terms of welfare, training, respect and motivation, they often feel a sense of belonging to the company. It breeds ownership in the processes they are directly involved in. They develop a firm belief in that they do provide solutions to a client’s needs. This is something close to my heart from past experiences. I would frequently perform better in similar situations, under a team where the manager treated us well. When serving a client, I would actually come across as trustworthy, because I believed in whatever idea I was selling. Teamwork would also improve by leaps and bounds when everyone worked towards a unified objective.
Affiliates
Let’s face it. One way to maximise profits is to increase the reach of your product. The more people that know about you, the more prospects you will have. And your affiliates are crucial to this.
Affiliates are really your partners. They are out in the jungle working to peddle your products, and more often than not, are the ones doing the leg-work in terms of spreading your products’ reach. You need to reward them for their best efforts. Perhaps you could reward the better performing affiliates with greater commissions or bonuses. You could also motivate the others to perform better by offering them commission incentives based on performances. Everyone would be incentivised to maximise their efforts for you. As a whole, the marketing effort would be increased and even improved, as affiliates can often come up with new ideas just to earn the rewards.
Joint Venture Partners and Merchants
If you are also in the business of marketing others’ products, managing your relationships with your JV partners or merchants are critical in boosting your marketing efficiency and productivity. They are a useful source of marketing intelligence, by having direct knowledge of what clients’ needs and solutions are related to their niche. In fact, good affiliates also provide similar information as they often communicate constantly with clients.
These relationships can be improved by providing regular and valuable feedback and suggestions to JV partners and merchants. You can build “win-win” partnerships, to encourage sharing of ideas and profits. One common method oft-practised in the Internet Marketing arena is that of creating interviews with other marketers who are more prominent in your niche. By featuring the marketer and his products to your client base, not only will he get more prospects, but at the same time you might get better branding through association. Of course prior to this, you would usually have to build trust and at least a good working relationship with them.
Another simple method is to share your own affiliate tools or products with other marketers. The marketing efforts can be synergised, resulting in an expansive reach and greater results.
Clients
Who knows best as to whether your product provides a solution or serves a real need in the market? The person who actually buys your product, of course! Imagine the kind of quality feedback your client could provide. And if you offer valuable services, the power of viral marketing can be fully utilised through a motivated client base. Such motivation can easily come from product or service satisfaction - and this multiplies your profits many-folds!
Value and solutions to their needs. These will boost your marketing profits via client referrals and feedback. For every dissatisfaction, turn that to your advantage by offering real and honest services, bonuses or compensation in return. Many clients would often have a positive change in opinion as a result, and a simple mention of their experience to friends and family could convince them to become your next client.
Seek out ways to improve your relationships with all stakeholders. Manage these relationships well and your profits will increase exponentially through the many levels of marketing synergy!
6 Responses
ZHereford
September 17th, 2007 at 1:59 pm
1Great tips for those who are unaware of these points and a great refresher for those who are!
david
September 17th, 2007 at 6:06 pm
2Yes, indeed. Improving relationships with all stakeholders is they way of doing business nowadays. But most companies are shortsighted so they will eventually crumble on its own.
YC
September 18th, 2007 at 1:50 am
3@ ZHereford - Thanks Z! :)
@ David - It is interesting that not as more businesses are practising the simple act of managing r/s by treating people directly involved as partners. It would really smooth out the creases and make things easier in the long run.
shaun
September 18th, 2007 at 6:18 am
4I haven’t had any experience with affiliates (people selling my product) although I have used affilate deals on my site. very good article man I think it’s key keeping your customers and employees happy. building solid relationships with your customers is hard thing to do depending on the product your selling your customers become very picky and have no patience.
Johnskibeat
September 18th, 2007 at 10:17 am
5Keep those tips coming YC!
YC
September 19th, 2007 at 3:21 am
6@ Shaun - Packaging your product with good services can sometimes help to sell the customers. But the best way is still a good product, like you said. Today’s clients are getting more picky as affluence accelerates all over the world.
@ Johnskibeat - thanks John! Keep those movie reviews coming too! :)
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