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SOCIAL NETWORK MARKETING: NEW INFLUENCERS AMONG THE CHATTERI

SOCIAL NETWORK MARKETING: NEW INFLUENCERS AMONG THE CHATTERI

NETWORK MARKETING

Like many industries, direct selling has faced its ups and down since its inception. Nonetheless, it has been able to prove its potential on an international basis. Today, this business is practiced in more than 150 countries around the world. The products and services sold by direct selling companies include cosmetics, health and wellness, energy services, personal care product, just to name a few. Most of the companies ensure premium-quality products that are worth customer’s money.

With the investors and financial rules buying into the unparalleled success of direct selling, the economic force of these companies can’t be ruled out anymore. For instance, renowned investor and world’s third richest person Warren Buffett surprised everyone when he purchased the pampered Chef, a direct selling company, in 2002 for approximately US$900 million and said: ‘it’s the best investment I ever made’. In fact, he had bought two more direct selling companies earlier World Book Encyclopedia in 1978 and Kirby Company in 1986 for US$315 million.

Buffet’s move positively convinced other investors and financial advisors that not all direct selling companies were pyramid schemes and that time had come to take a careful look at this industry. Sequoia Capital, one of the most influential venture-capital firms in Silicon Valley, invested US$37 million in Stella and Dot, direct seller of jewelry, in January, 2011. Founder and CEO of Stella and Dot, Jessica Herrin, decided to utilize the power of web and social networking instead of traditional face-to-face selling to grow the business that, in fact, caught the attention of Sequoia. Citigroup owns Primerica, a publicly traded direct selling company that accounted for US$1.3 billion in revenue in 2010. Media conglomerate Time Warner owns Southern Living at Home, direct seller of decorative fashions for home, kitchen and garden.

So, what are the reasons behind this explosive growth of direct selling? There are many reasons but let’s take a look at a few of them:

1. Word-of-mouth referrals: Observe carefully and you will see that in this modern economy, products and services move through a network of consumers where marketing is largely done by consumers themselves who get very passionate about the product and talk to their friends, families and relatives about that. In other words, nothing sells a product better than a friend’s personal recommendation. This single behavioral characteristic has contributed much to the ever-increasing popularity of direct selling.

2. High earning potential: In direct selling, not only are you capable of owning your own business for a very little amount of money, you will also reward financially for the rest of your life on a residual basis like authors and singers if you do this business right. That’s the most intriguing reward of building a successful direct selling business which is why more and more people are singing up with different companies of their choices every day.

3. Social networking: Never before in history has it been so easy to establish communication with others. With social networking sites, groups, blogs spreading like wildfire and contributing so much in forming personal relationships, the whole scenario keeps better. Direct sellers are now taking advantage of this giant communication model. All you really need a computer /laptop and access to the World Wide and you can instantaneously start operating your very own business without having to do constant face-to-face presentations. With little or no inventory, you can market your product and business opportunity to the whole world.

The industry of Network Marketing has truly come of age. This model will heavily dominate the world of distributing of many more types of products/services in the future and consumers will indeed embrace the convenience of buying online or from direct sellers in preference to shopping at traditional retail markets. Last but not the last, this model will be followed and practiced widely by those who have dogged determine to change their financial status quo.

Online Education

Online courses allow students to engage in learning in new and unique ways, and students are presented with numerous opportunities to personalize their education. Not only can students easily request more challenging assignments from their teachers, they can also use their virtual education as a remedial tool and/or tutoring service. Students also have the opportunity to access web-based resources, which often have the advantage of interactive functions.

Online courses can motivate certain types of students to achieve higher levels of academic excellence. Students who benefit from virtual learning include those who feel more confident communicating with teachers and peers online rather than in class; students with learning differences; or those who simply have difficulties excelling in traditional classrooms.