Tag Archives: InboundMarketing

When Markethive discovered herself

From Social Networks to Market Networks

 

Markethive is a full suite “Inbound Marketing” platform integrated with a full scale “social network” targeting the 800 million “Entrepreneur” global populations. Like Facebook meets Pardot. This new revolution of the next wave of progressions is known as Market Networks, compared to the last wave of Social Networks. Even MarketHive’s name reflects this new revolution. Experts predict the “Market Network” will dwarf the “Social Network” market.

1. Founder (Thomas Prendergast): 40 years’ experience in Ad Agency and Marketing professional. Educated and developed technology awareness from 1982 – 1992 in the Silicon Valley. Visionary, skilled programmer, innovation 1sts, Stanford and UCSD Super Computer Center foundations and over 20 years building marketing innovation on the Internet.
 

2. Pardot, a full scale Inbound Marketing Platform (very similar to Markethive's platform) sold for $95 million to complete the ExactTarget platform in preparation to be sold to Sales Force for 2.5 billion Using these metrics it is easy to assign a value to Markethive of a minimum of $100 million. see story: www.bizjournals.com/atlanta/blog/atlantech/2013/06/atlantas-pardot-helped-drive.html
 

3. The experts (like Nir Eyal) and many bloggers (like Guerric de Ternay) are recognizing the new emerging systems called Market Networks.

  1. Market-networks are hybrid animals: part social network, part marketplace, part SaaS.
  2. It’s a social network. Professionals use profile pages to showcase their work and demonstrate their credibility. They also connect with each other and build relationships.
  3. It’s a marketplace. Professionals come online together to find other parties with whom they can do business.
  4. It’s a SaaS (Software as a System) tool. Professionals use the tools on the top of the marketplace to negotiate, do the job, or manage the paperwork.

4. Hooked: Systems that improve with age are the sought after prizes as they retain growth and are considered monopolies, not commodities. Markethive possesses this trait on 4 serious levels.

  1. Leads (called children) from the profile pages advance organically and improve with time
  2. Blog subscribe organically builds subscribers (automatically publishing) to top social networks
  3. Profile page improves with organic advancement in workshops, blogging and groups
  4. Increased reputation builds via blogs and profile page growth

5. Markethive is the indisputable full platform Market Network and has the distinct advantage of ready to launch and be "First to Market".

6. At least three patentable products; Blog Subscribe, Blog Swipe and 1Click Subscribe Widget

7. Projected funds of minimum $1 million with 20% to polish the system in preparation to officially launch and the remaining 80% to drive the marketing and crowd funding to record breaking status.

 

Summary:
see story: https://techcrunch.com/2015/06/27/from-social-to-market-networks/

Social Networks Were The Last 10 Years. Market Networks Will Be The Next 10.

First we had communication networks, like telephones and email. Then we had social networks, like Facebook and LinkedIn. Now we have market networks, like HoneyBook, AngelList, Houzz, DotLoop and Joist.

You can imagine a market network for every industry where professionals are not interchangeable: law, travel, real estate, media production, architecture, investment banking, personal finance, construction, management consulting and more. Each market network will have different attributes that make it work in each vertical, but the principles will remain the same.

Over time, nearly all independent professionals and their clients will conduct business through the market network of their industry. We’re just seeing the beginning of it now.

Market networks will have a massive positive impact on how millions of people work and live, and how hundreds of millions of people buy better services.

“Markethive has the ability to be an incubator (hive) to produce more strategic “Market Networks” as well”. 

 

Thomas Prendergast
Founder and CEO Markethive, Inc.

 

P.S.
The "Market Network" Illustrated
(Do you see Markethive?)

P.S.S.

Definition of Hive (Curious aint it?)

hive (hīv)

1. A place swarming with activity.

2. To work with many others in a close network.
3. a network showing signs of great industry
4. a teeming crowd; a network

Inbound Marketing Rising

 

Thanks to the Internet, marketing has evolved over the years. Consumers no longer rely on billboards and TV spots — a.k.a. outbound marketing — to learn about new products, because the web has empowered them. It's given them alternative methods for finding, buying and researching brands and products. The new marketing communication — inbound marketing — has become a two-way dialogue, much of which is facilitated by social media.

Another reason why inbound marketing is winning is because it costs less than traditional marketing. Why try to buy your way in when consumers aren't even paying attention? Here are some stats from the infographic below.

  • 44% of direct mail is never opened. That's a waste of time, postage and paper.
  • 86% of people skip through television commercials.
  • 84% of 25 to 34 year olds have clicked out of a website because of an "irrelevant or intrusive ad."
  • The cost per lead in outbound marketing is more than for inbound marketing.

Inbound marketing focuses on earning, not buying, a person's attention, which is done through social media and engaging content, such as blogs, podcasts and white papers. This content is interesting, informative and adds value, creating a positive connection in the eyes of the consumer, thus making him more likely to engage your brand and buy the product. So it costs less and has better a ROI.

Lisa Moore

http://markethive.com/lisamoore

 

BY LAUREN DRELL

 


 

I’ll say it: the days of outbound marketing are over.

I’ll say it: the days of outbound marketing are over.

entrepreneur

The "Wolf of Wall Street" mentality of harassing customers over the phone, sending spamy emails, and going door-to-door to close deals has become much less effective in recent years. Customers have access to so much information every day, they’ve become increasingly resentful of marketing intrusions. The rise of blocking tools such as caller id, spam folders and ad blockers is not coincidence.

Inbound marketing is the new normal. That’s the idea that if you provide value to customers first, they will respond by returning that value back and doing business with you.

To get a peak under the hood inbound marketing, and get tips on how others can use it, I had a chance to chat with A.J. Agrawal – an entrepreneur who built his business, Alumnify, around it. A.J. is a fellow contributor at Entrepreneur as well as at Forbes, Huffington Post, and others.

Here’s an edited version of our e-mail interview:

Why begin with universities?

We started there because we saw a strong decrease year after year in alumni engagement. Right now, alumni engagement is at an all time low – under 10 percent. It was obvious that institutions were struggling to adjust to the new ways their alumni were communicating and engaging. So we saw the opportunity.

For about 85 years, alumni engagement was pretty steady. Then all of a sudden, in the 90’s it began to fall drastically. In panic mode, many schools chose to double down on the outbound marketing tactics that worked in the past: cold calls, snail mail, and increased email addresses. They also deployed better data tacking and software to help optimize open email rates as well as make the giving process easier for graduates.

But these strategies had no effect (or even a negative effect on engagement) because they were built on an overall strategy that was broken. So we decided we would build inbound marketing solutions to provide value to alumni first. 

How do you begin inbound practices?

First, make sure you know what inbound marketing is. At its core, inbound is anything that provides a tremendous amount of value to your target customer without asking anything from them in return. There are tons of ways to do this and the best part is that most of the major strategies can be done for minimal cost.

One thing we recommend to companies we work with us is to start by getting a blog set up and to have someone be responsible for publishing regular content. One of the nice things about inbound marketing is that it requires companies to build major assets for their business. Your content library is a huge asset and will eventually help your SEO, and pull in more customers to your website.

Other popular inbound strategies include webinars, eBooks, infographics, mobile apps built to help your customers, and optimizing your social media.

Each business is different, so the strategy depends on factors including audience, industry, and expertise. Like most things, the hardest part is just getting started. Once you find an inbound strategy that starts to work, it becomes much easier to fine tune and expand on your traction.

Do you avoid outbound strategies?

Not at all. While inbound is definitely the future, some customers still respond well to outbound strategies. Even as an inbound company, we still cold call customers and send promotional emails once in a while — but as part of a complete plan.

When thinking about the brand I want for Alumnify, I don’t want prospects and customers avoiding our phone calls. The image of a customer seeing an Alumnify Team Member calling them and saying “Not these people again” is my worst nightmare. And it should be any entrepreneur’s nightmare too.

Instead, I believe that the key to getting customers to love us is to provide value without asking for anything in return. For example, we have a free inbound marketing email list we just launched yesterday with weekly tips and webinars. And I’m always happy to help any fellow entrepreneur hammer out an inbound strategy. That type of approach may take more work in the short run, but it’ll also help build a much better brand to our customers in the long run.

Article writen by:

Contributor

 

Pardot a shadow of Markethive report

Arriving at the Pardot Acquisition Price

pardot

This is an article about a similar Inbound Marketing company like Markethive. Unlike Markethive, Pardot is not a social network. That are only an Inbound Marketing platform. In that aspect, they are a shadow of what Markethive does.

Thomas Prendergast
CEO
Markethive CEO

The article:

One of the more popular questions I get from entrepreneurs that are curious about selling a company is how we arrived at the Pardot acquisition price. My normal response is that we had $10 million in trailing twelve months (TTM) revenue at time of sale and we got 9.5x TTM. Well, since we’re more than three years out from the deal (see 3 Year Anniversary of the Pardot Exit), there’s actually much more to how we arrived at the acquisition price.

And, as you might expect, arriving at the price of a fast-growing SaaS startup isn’t as logical as you might think.

The original offer came in at $60 million. Looking at our growth rate (100%/year) and our run-rate ($13M ARR), we said we could wait 12 months, get to $20 million TTM, and then sell for 5-7x. We countered asking for $140 million.

Not knowing what would happen, but confident we were in a great place in a great market, we felt good about our counter.

48 hours later they came back and offered us $70 million. Time to play ball. We countered at $120 million.

48 hours later they came back and offered us $80 million. We countered at $110 million.

48 hours later they came back and offered us $90 million. We countered at $100 million.

48 hours later they came back and offered us $95 million. We said no. $100 million is our final offer.

Then, the final wrinkle emerged: they couldn’t pay $100 million. Even with $210 million in cash on the balance sheet at the time, they had already filed paperwork with the SEC to do a secondary offering, and based on rules as a public company, they’d have to withdraw the offering if they acquired a company for more than a certain percentage of assets. Well, $95 million was the max they could do if we wanted to do a deal now.

$95 million — take it or leave it.

We said yes. The deal closed 42 days later.

Not all acquisition prices are logical. Our deal was driven partly by our revenue, market multiples, market opportunity, and SEC rules. Go figure.

Reprinted from:

DavidCummings.Org

Subscribing to an Inbound Marketing System

 Subscribing to an Inbound Marketing System

 

Marketing is always evolving. Each year there are new strategies and tools to master, all of which must be aligned with your business goals. Because of this, the responsibilities of marketers and business owners continue to grow as well. As we start another calendar year, it’s common to consider the marketing budgets and identify areas of reallocation and ROI. When in need of marketing help, often the first thought is to hire another employee or give some of the overflow work to others within the organization. What most don’t realize is that this can be quite costly and in many cases, does not produce the same return as working with an outside resource.

Markethive Inbound Marketiing is a great solution in this scenario. Not only does this partnership provide unparalleled expertise, it will allow you and your employees to focus on growing the business in other ways. Here we will discuss 5 ways to cut costs by hiring an inbound marketing agency.

1. More Time Spent Growing Your Business

Many companies operate marketing with an “everyone helps” attitude. This means that everyone from the CEO to the sales team helps by writing blogs and content offers. This is great if each Affiliate has a few extra hours each week to help out, however, this is rarely the case. For most of us, the weeks are jam-packed, with an ever-growing list of to-do’s to accomplish. In order to hit these marketing deadlines, team members have to step away from their primary responsibilities and shift gears into a marketing mindset. This can seriously take away from weekly productivity and reaching key goals.

By subcribing to our inbound marketing program, Markethive, affiliates can spend their time doing what they subscribe to do, driving the business forward. This will undoubtedly result in more business closed and better customer success. Now, instead of an “all hands on deck” approach to marketing, it is now the responsibility of one individual to manage the relationship with an Inbound Marketing System as opposed to executing the marketing as a whole.

2. The True Cost of Hiring a New Marketer

Another solution could be to hire an Affiliate internally. What often goes undiscussed is the total cost associated with the bringing on a new marketer, or any Affiliate for that matter. Filling a new position can turn into another full-time job. When adding up all the time it takes to identify, interview, hire and train a new Affuiliates, the total hours can be astonishing. As mentioned before, this not only takes time away from your primary responsibilities, but odds are, there will be additional hand-holding required over the next few months.

When working with an Inbound Marketing System like Markethive, you can cut costs by immediately partnering with a team of marketing experts who have dedicated ample time and resources to learn about you and your business. Their process in doing so will be extremely thorough, resulting in a true understanding of your value proposition, solutions, and a detailed plan to reach your goals. The time it takes to interview and vet an inbound agency will be a fraction of that which you would spend on a new internal hire, and we all know that time is money.

3. Optimization of Costly Marketing Initiatives

Another way that an Inbound Marketing System like Markethive, can help you cut costs is with the optimization of existing marketing efforts that are costing you money. Many businesses spend a decent portion of their marketing budget on paid advertising such as Google Adwords, social ads. With the right expertise, this spend can be optimized greatly. This can be done by removing ad spend for those channels that do not yield adequate results, or by improving the overall conversion rate, effectively lowering the cost of acquisition.

An Inbound Marketing System like Markethive, will look at your current marketing activities with a keen eye, identifying areas to lower spend and drive optimal results. With the right tools in place, such as HubSpot, they can generate in-depth reports and adjust campaigns accordingly.

4. Fixed Monthly Costs

Another important factor in cutting costs is the fee structure for inbound marketing retainers. Most agencies work in a retainer-based model. This means that there is a fixed fee associated with the amount of work to be completed each month. This statement of work is often laid out in terms of a set number of hours or deliverables, based upon an agreed-upon monthly fee. This model allows you to allocate budget appropriately for the next year or many years to come. With an internal employee, the cost of that person increases over time. This can be seen with annual raises or the cost of benefits rising as well. In order to maintain a steady budget for marketing, while ensuring the highest return on investment, hiring an inbound marketing agency is certainly your best option.

5. Access to Additional Technology

As mentioned earlier, each year, new marketing technology is released to help businesses drive new customers while reporting accurately on their efforts. In many cases, these tools are not free and the cost of multiple subscriptions can add up quickly. By working with an inbound marketing system, often you can get access to a number of tools that they are already using. For example, Markethive use a variety of analytics tools to measure website performance and visitor behavior.

It’s clear that subscribing to this inbound marketing system such as Markethive provides a number of great values. Not only do you get access to a full team of marketing and creative experts, you can significantly cut costs and increase ROI. When compared to hiring an internal marketer or splitting the responsibilities across your team, partnering with an inbound agency is extremely cost-effective and allows you to focus on growing your business.

Chuck Reynolds
Contributor

Tips about Network Marketing

Tips about Network Marketing

A direct-selling expert shares what it takes to start out and make it in this industry.
 

You probably have an image firmly planted in your mind of what network marketing (also known as direct sales or multilevel marketing) is all about–housewives buying and selling Tupperware while gossiping and eating finger sandwiches, or a high-pressure salesperson trying to convince you how easily you can become a millionaire if only you and your friends and their friends and so on would buy and sell vitamins with him.

Both of these images couldn't be further from the reality of network marketing. It's neither a hobby nor a get-rich-scheme but an opportunity for you to earn money running your own part- or full-time business.

But what does it take to succeed in this industry? Vincent J. Kellsey, director of member services for the Direct Selling Women's Alliance, an organization that provides a variety of resources to women and men in the direct-selling industry, offers these tips for making it:

Choose wisely. There are six key elements you should be looking for [when selecting an opportunity]. Number one: stability. How old is the company? Number two is excellent products or services that consumers will use and need more of.

Number three is the pay plan–how even and fair and generous overall is the distribution? This is really crucial as the pay plan represents exactly how you'll get paid–or not get paid. There are really only two questions to ask [regarding this]: How many pennies out of each sales dollar get paid back to the distributors each month, and how fair is the distribution of these pennies between the old members and the new members?

Number four is the integrity of the company and the management. As much as possible, [investigate] the experience of the CEO, [their] experience in the network marketing industry, and their background. [Have] they been successful in other companies in the industry? Do they have a good reputation?

Number five is momentum and timing. Look at where the company's at, what's going on with the company, and if it's growing.

Number six is support, training and business systems. You may have [chosen] a great company with excellent management, products that make a difference, a pay plan that's uniquely fair and very generous, and momentum and stability, but if you don't have a system in place that works, all of that [doesn't matter]. Most companies will have a transferable training system that they use, and that's where mentorship comes in.

Practice what they teach. [To succeed,] you need to be willing to listen and learn from mentors. The way this industry is structured, it's in the best interests of the [MLM veterans in your company] to help you succeed, so they're willing to teach you the system. Whatever [your mentor] did to become successful, it's very duplicatible, but you have to be willing to listen and be taught and follow those systems.

The higher-ups. It can be called various things, but the general term is the "upline," meaning the people above you. How supportive are they? Do they call you? Do they help you put a plan in place? Are they as committed to your success as they are to their own? You should be able to relate to [the people in your upline] and be able to call them at any time to say "I need some help." How much support there is from the people above you in the company is very important.

Take up the lead with your downline. There's a term in the network marketing industry called "orphans"–when somebody is brought in and then the person who brought them in is just so busy bringing in other people that they don't spend the time to teach and train [the new person]. You should be prepared to spend at least 30 days helping a new person come into the industry–training them, supporting them and holding their hand until they feel confident to be able to go off on their own. You really need to ask yourself, are you willing to do that? Are you able to do that? This is really about long-term relationship building. It's not about just bringing people into the business and just moving forward. It's about working with these people and helping them to develop relationships.

On the net. People are utilizing [the internet] as their main marketing tool. [You can set up your site] with autoresponders so when you capture leads, the autoresponder can follow up with that person. One of the greatest keys to success in this industry is follow-up. Many people will have someone call them who's interested or they'll call the person and say they're interested, but then they don't follow up with it. Automation on the internet has allowed a much more consistent method of following up.

The only drawback with the internet is people who utilize it to spam. If there was one thing I could put forward to say, "Do not do" when utilizing the internet as a marketing tool, it's spamming because that can give a very bad reputation not only to you but also to the company you're working with.

Taking care of business. This is a business, and just like if you were running a franchise or a storefront, you [should have an] accountant. You have all the same write-offs tax-wise that you have with running a [full-time] business, so it's very important to [do your research] prior to getting involved, before you start making money from it. How is that going to affect you tax-wise? What are your write-offs?

It's important to set up a [support] team around you. I'd suggest seeking out lawyers who deal in network marketing, so they're very versed in all the laws and how that affects [your business.]. There are also accountants who specialize in dealing with homebased businesses specifically in the direct-selling industry.

Don't quit your day job…yet. Never leave your full-time position unless you're absolutely certain that the income that's coming in with this company is going to be there. [Be sure that] you've been with the company [for awhile] and that you know it's a stable company, and the income that you're earning is equal to or greater than the income you're earning from your job before quitting.

Chuck Reynolds
Contributer

Network Marketing Master Tips

Network Marketing Master Tips

Learn the secrets of MLM experts so you can follow in their footsteps.
 
 

 

Network Marketing is amazing. During my more than 30 years of working, it's the only form of business I've found that offers a level playing field. In other words, anyone can become successful in this industry. And the best part is that others have already blazed the trail to success, so you just have to look at what they've done and follow suit. There are things you'll hear over and over again as the principles to success in MLM. Here are the top five:

1. Be coachable. MLM is a business of duplication. Those who've already been successful will share their secrets to success, and all you need to do is listen and then do what they tell you. Unfortunately, I wasn't very coachable in the beginning. I was successful in traditional business and figured I could do the same things and be successful in network marketing. Boy, was I wrong! Because I didn't listen to my upline leaders, I didn't make any money at first. Successful MLMers have been there, done that–and have the paycheck to prove it–so be coachable, and duplicate their success.

2. Develop your dreams, goals and objectives. Studies have shown that very few people have written dreams and goals, yet those who do achieve high levels of success. Identify your dreams first. As yourself, if time and money weren't inhibitors, what would your life look like? Describe your dream house in great detail. Likewise, get a mental image of your dream cars, vacations, wardrobe, lifestyle and so on.

From those dreams, develop your goals. A dream is the big picture, and goals are the steps that will get you to your dreams. For example, let's say your dream car is a Mercedes SL65 with a cost of $225,000 and a monthly payment of around $3,800. What are the steps you need to take to achieve that dream? An increase in your income might be necessary, so your goal would be to increase your monthly income to, let's say, $10,000.

Next, you break your goals down into bite-size objectives (in our example above, this would be the things necessary to increase your monthly income to $10,000). Each day, you should review your dreams, goals and objectives in order to determine your daily activities.

3. Work. Network marketing has probably produced more millionaires than any other industry, and although each of those people built their businesses with different companies and using different methods, they all did one thing–work. MLM isn't a get-rich-quick scheme; you'll only get rich through hard work.

One of the main differences I see in those who fail vs. those who succeed is their level of work. Most people who've failed treated their MLM businesses like a hobby, working whenever they had some spare time. The top income earners, on the other hand, work at their businesses every day.

Let's say that after a thorough evaluation of your schedule, you can only devote 10 hours a week to your business. Take a daily planner and block out those available time slots. Remember, work isn't filing, checking e-mail or surfing the web. Work in MLM is prospecting, presenting, following up, registering new associates, training and support.

In the beginning, you should spend 90 percent of your time on prospecting, presenting, following up and signing up new people. As your network builds, you can devote more time to training and support. But never, ever stop prospecting, or your business will die.

4. Be consistently persistent. Most network marketers give up too early. They expect to make $10,000 their first month, and when they don't, they quit. But it takes time to build an MLM business. You're going to have to contact a lot of people, give many presentations and endure a great deal of rejection. However, it's the person who is consistently persistent who will succeed.

If you're duplicating a successful system, the only thing separating you from success is time. When things are looking dark, keep going. Make one more call. Talk with one more person. Follow up one more time. If you're with the right company, you should never give up because you'll eventually be successful.

5. Make a million friends. The advice that made the biggest impact on my success in network marketing was to go out with the idea of making a million friends instead of a million dollars. You can only be successful in network marketing if you help others become successful. So go out and find some new friends who you can help become successful in your business. Forget about your wants and needs, and serve these friends instead. This concept is called "servant leadership"–you lead by serving those you lead. The more friends you make and serve, the greater your success in network marketing.

These five principles of success are just the start. I'm sure that your sponsor and upline leaders have their own list, so make sure you ask them how they became successful. And finally, realize this: It's one thing to have this knowledge–and a whole different thing to actually do what you've learned. So be a doer, and watch your business and income skyrocket.

Chuck Reynolds
Contributer