Easily one of my fave topics. We live in a time where Social Marketing is booming and many are deciding which one is the best fit for them. Social Marketing is a fantastic way to bring a significant side stream of income into a household…and it’s fun! There’s many to choose from and they are all WILDLY different. So how do you choose? I found myself in the exact same scenario almost 7 years ago. Back then, the trends of ecommerce and peer-to-peer marketing, and the age of the “side hustle” wasn’t upon us yet – at least not with the same intensity that we’re seeing today.
Today we have even more reason to jump in with a Social Marketing business.
Social Marketing is a great key to financial growth, around your own schedule and while flexing your entrepreneurial muscles. And did I mention, no cap in your income? START THE CAR!!!!
I’m giving you guys the inside track today and sharing my strict list of “must haves” for a Social Marketing company. These are the top things to look for when making your decision…
- Stability and Growth : This is number one for a reason. Pick the contender who knows what they’re doing. A top leader in my industry compared it to picking a surgeon for your operation. You have two brain surgeons, one fresh out of school, or one who is award winning and a master of his craft. Who do you pick?Look for companies with long standing roots, but who are expanding into new markets. That combination of success, stability….but ground floor opportunities in new markets is the golden tickets. And most companies do NOT have that. ***Don’t look for the new kid on the block.*** Many new Social Marketing companies close up shop within the first 5 years (this stat applies for all start ups, including the Social Marketing industry). What you’re looking for is history, heritage, and proof that the business has some sound minds navigating the company – even through downturned economies. And that you can have an exciting, expanding piece of the pie going forward. Look for strength, growth, and stability.
- Innovation and Consumer Appeal: It’s important that a Social Marketing company isn’t living in the past, but staying ahead of trend and on trend. Make sure their products are in high demand and relevent (think: personal care, health, environment, safety, and consumable). I chose the stability of having a company that sells products that people will use, even if the economy is rough. Also look for companies who don’t have a “one trick pony” product line. You want a company that has different products for different people so that your customers have options. Make sure the company is staying on top of what’s hot and what’s new with new product innovation. Again, one product line does not cut the mustard. That will limit your success. Look for a company that has products people love, order, and reorder frequently.
- Compensation: I debated putting this first in my list because for most people, they look at the benjamins first. OBVIOUSLY we all join Social Marketing companies to make money. There’s nothing wrong with that. Just own it. Kid’s gotta eat! However, compensation plans vary from company to company. Look for a robust compensation plan with multiple streams of income. Also look for companies where you’re allowed building a sales team (which is the very definition of Social Marketing, instead of Direct Sales) along with earning a commission off your own personal customers. When looking into compensation plans, I found that companies that throw a lot of money at you at the start, aren’t actually the most stable. Look for companies where you’re making money at all management levels, and that you can earn a decent income even at a middle management level. Some companies offer car bonuses and cash bonuses, those are a great way to supplement your income as well.I’ll add under this category: ensure that your startup is solid. Most companies offer a standard start up fee (which can range from $29-$200) and recommend getting products to start your business. This is normal. PLEASE NOTE: this is where I’ve seen people make the biggest mistakes. DO NOT go for the cheapest. Remember this is about EARNING an income. Choose based on all factors and do not be swayed to the cheapest kid on the block. Having a Social Marketing business means you’re an entrepreneur now, and it’s time to think like one. Long term happiness, success, and financial gain is what you’re looking for. It’s not the time to cheap out.
- Culture, Values, and Credibility: It’s been said, if people show you who they are, believe them. Same is true for a Social Marketing company and their culture. Not all companies are created equal. It’s similar to shops in any mall: some are high end and incredible, others are cheap and poorly managed. I highly recommend only investigating companies who are part of your local Direct Selling Board or Association. If they’re not part of the DSA – there’s a reason for it. Also consider, what’s the reputation of the company. I’m not talking about a one off person you met who annoyed you from the company. I’m talking about what do people say about the product and the culture. Are people taught to be sleezy and salesy? Are people taught to steal people from other companies? Is there a system for success that appeals to different people from different walks of life (both online and in person)? And in general, when you meet people who work for that company – are they genuine?
Under this heading I’ll talk about some important “icing on the cake” topics: What’s the company’s stance on being environmentally friendly? Do they give back to the community? Do they acknowledge and empower their leaders? Do they offer training at all levels? ASK!
- Gut: You got one. Use it. But please know that jumping into any new venture WILL be a mix of excitement and nerves. Don’t let that feeling hold you back. I typically say to people that if your gut says for even a second that you should do it, do it. You won’t regret that. So many times I see fear set in and hold people back, and it’s such a shame. Fear of finances, fear of having to do the work, fear of being salesy (ps can I just say when you have a great product, you do NOT have to be salesy), fear of what people will think….Sound familiar? The bottomline is to make a sound decision for YOU. But please don’t overthink it once you’ve dotted your i’s and crossed your t’s. Don’t wait, the industry is booming and your business can as well. If nothing changes, nothing changes – so if you want to increase your success and incorporate Social Marketing, get on it asap. You don’t have to be great to start, but you have to start to be great. So rip the bandaid and get going….