Archive for: June, 2023

Adaptation to the Realities of the Market

Jun 10 2023 Published by admin under Uncategorized

Do you think adaptation to the realities of the market is the most important thing?

Many times in the past I’ve written about the need to adapt, the need to be able to change your behavior relative to the market because the markets are ever changing.
I’ve stated that mechanical systems may be workable, but for only a short time relative to the life of markets. You must learn to trade what you see and to understand what you see on a chart.

When I first began trading there was no such things as futures contracts for foreign currencies. Why didn’t they exist? Because there was no need for them! In the 1970′s all that changed when the US dollar went off the gold standard and began to float against other currencies. Following that, the Chicago Mercantile Exchange began to create currency futures to provide a place where currency traders could hedge the risks associated with dealing in foreign currencies. Some of these risks are direct and some are indirect. Direct risk is involved for those who deal directly in foreign exchange. Indirect risk involves companies who export or import and receive payments or make payments in the currency of another country.
Ever since currency futures were created, they have been in a state of flux. More recently, for purposes of futures trading, currency gyrations have centered on a massive move away from currency futures to more direct trading in the forex markets. Currency futures, while maintaining their volume and open interest figures, are actually less liquid than they had been previously. Volume and open interest do not reveal the picture of what is happening in the currency futures pits. Volume and open interest levels are being maintained by fewer and fewer futures traders.

In the period from 1992 to the present, we’ve witnessed currency futures moving from “red-hot” to “cool” and now hot again insofar as speculators are concerned. Foreign exchange, which in 1992 was one of the hottest plays, first turned dull and then back again to exciting.
That this has happened can be seen in areas of which most futures traders are ignorant. Five years ago foreign currency traders were being paid huge salaries and anyone with a track record could virtually name his price. Following that, currency traders were no longer in great demand. Now, again, there is a huge demand for successful currency traders.
Currency futures are but a small representation of the $1.5 trillion dollar foreign exchange market. Professional currency traders use forex, forwarding contracts, derivatives of all kinds, and the futures pits, to deploy their various trading and hedging strategies. Looking at only the futures is like the blind man trying to tell what an elephant is like by feeling only the tusks.

In past years, foreign exchange desks at banks, insurance companies, brokers, and other institutions were seen closing down and firing hundreds of employees. Today, they are again looking for currency traders.
In the 1990s, Midland Bank closed its foreign New York office laying off dozens of people. Frankfurt Bank had pulled out of New York and Tokyo closed down its foreign exchange desk. At that time, the world’s largest foreign exchange trader was Citicorp. In the D-Mark alone, they shrank from 39 traders working at 17 different locations around the world to 4 D-Mark traders all working in one room. Keep in mind that these were traders who had been to a greater or lesser extent using the currency futures. The result at that time was that there were fewer big fluctuations in the currency futures than there once were and therefore much less profit.

However, today, just the opposite is happening. Central banks are presently making much greater interventions in the currency markets. They have stopped publishing targeted exchange rates. Such action by the central banks leaves currency speculators at a loss for what to do, and the result has been a huge surge in forex trading.
Because today forex brokers abound and are actively marketing the idea of currency speculation, it is having a profound effect on the foreign exchange planning of individuals, companies, and nations.

If some day the major currencies would be the US dollar, the J-Yen and the euro, who would need thousands of traders to trade them? There would be far fewer currency misalignments to provide a basis for trading. But that is not the way the world is moving. The picture I just presented ignores the rise of China as a major economic force on the world scene. Almost certainly, the Chinese currency will become a major trading vehicle. The same is true for other emerging countries. Some of them will no doubt have important currencies from the point of view of world trade. But will these currencies be traded in the futures markets or in forex?

The changes in just this one area – currency trading – are an example of how things rapidly change and point out the need for traders to adapt. There have of course, been many other changes in recent years. The advent of all-electronic markets has produced markets of a completely different kind. Computers have brought about the ability to trade in various time frames. New exchanges have created new markets and new contracts – so many, in fact, that it is difficult to know exactly where to direct ones trading efforts. It is now possible to trade virtually around the clock. It seems that somewhere, some market is trading.

All the best in your trading,

Joe Ross

Trading Educators Inc

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Direct Marketers – It’s Time to Sell the Pants Off the Competition With the Help of Your USP

Jun 08 2023 Published by admin under Uncategorized

The USP is the critical foundation of any brick-and-mortar store, but direct marketers can also gain the benefits just as well. If you can show a consistent message to your customers in all of your business ventures they will no what to learn to expect, which will keep them coming back. Read on to find out how to keep customers for life.

People like routines and consistency in their daily lives. They jump out of plane and travel to exotic locations for excitement. So, it will be you duty to maintain that level of daily routine by providing them with a measured and expected experience every time they deal with your direct marketing business. You will want to teach the customer to expect a certain treatment and train them that you are the only one to provide the experience. If they want they experience again, they are going to have to come back and buy more from you.

This is exactly what the unique selling proposition (USP) delivers. It’s a statement that makes a promise to the customer, the biggest promise that you can make and consistently deliver without going broke in the process. You will tell them exactly how you are going to solve their problem and how you will solve it better than the competition.

You will use your USP as a guideline to design all of your direct marketing material that you send out. It will guide the look of your web site and your sales letters. Every part of your business needs to be in harmony with that statement and the way you want to deliver your business to the customer. By creating this entire package around one unified idea, it makes it much harder for your competition to steal market share away from you.

Your customers will frequent your business and purchase your products, because they come to recognize the brand of YOU. They will want that same good feeling they experienced the first time they bought something from you and on subsequent product launches, they will buy again if you create a consistent atmosphere for them to enjoy. Direct marketing does not have to be a single sale business, where you struggle to get a new batch of customers for every product. Keep contacting your buying customers to let them know that you have more answers to their problems and keep them as customers using your USP.

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Social Media, Is It Hurting or Helping the Network Marketing Industry?

Jun 06 2023 Published by admin under Uncategorized

At a recent network marketing convention a slue of top business leaders were on stage talking about social media marketing and the distractions it presents to their distributor base. Their audience demographic consists mostly of middle aged to retired individuals, many of whom have been with their company for several years with little to no results. Yet, they were doing very little to nothing to change the scope of their marketing efforts.

At this very same convention, the product store toted CDs and various promotional tools in bulk. Distributors flocked to the store, buying as many promotional products as they could squeeze into their suitcases, only to fly home and market to their friends and neighbors. It’s a scene that’s been repeated at every convention this company has hosted over the last ten years. Their sales have steadily declined, while many of their top leaders have gone running to other companies, companies with a very distinct and different message – social media marketing understood here.

Talking to other network markers, I hear people asking the same question over and over again: Does social media really have that much of an impact on this industry? My answer to them is always a resounding yes!

Nielsen, a company that does nothing but focus on consumer buying habits and trends in over 100 countries, has recently stated that approximately 46% of online users rely on social media when making a purchasing decision. Indeed, how often do you see your friends and family posting questions about purchasing a certain product, or checking the feedback on a company they’re considering buying from or using a service of? According to Experian, a marketing and credit reporting company, 27% of total U.S. internet time is spent on social networking sites.

So what is the magic behind these virtual communities people can’t seem to break away from? Researchers at Harvard University did a number of experiments trying to answer this very question, eventually concluding that when a person shares information about themselves, the same section of the brain is being used that is associated with pleasure- the same pleasure we receive when eating a delicious food, receiving money, or even having sex. Yes, you read that right. Interacting through social media outlets and sharing our daily, mindless habits is equivalent to having sex… sort of.

The Disgruntled Company

Social media gives us a chance to share information about ourselves with others, and people love to talk about themselves. Which leaves us to wonder, why are so many network marketing companies so resistant to incorporating Social Media into their marketing strategies? It seems to be the perfect outlet for those wanting to share all the incredible successes they’re having with their business, service, or products, and with a large audience.

Well, to further understand this I went to my social media outlet and started asking this very question to the people in the industry working with these very same companies. One of the main things I heard back expressed was many of these companies lose quality control over the ‘pitch’ with social media – an understandable concern. Network Marketing is an industry under a microscope monitored by the FTC and, worse, friends and family. It’s an industry where people are quick to point out every minute mistake, hiccup, or discretion within the message. Especially when it comes to health and wellness. Sure, pharmaceutical companies sell drugs that do who knows what, on a daily basis and with very little accountability. Yet the health and wellness industry, especially when it comes to network marketing, is forced to walk a fine line. Company after company has been sued because an overly excited distributor promised their products could do something it couldn’t. So it only makes sense that a company would be weary of their distributors freely posting information on Facebook, Twitter, or Google sites.

Another distributor within the industry said that companies shy away from social media marketing because it pulls from their tools business. Remember the eons of CDs and promotional tools I mentioned earlier, riding the plane on their way home to eventually end up in the garage, or on shelves collecting dust? Yes, those are the same tools many of these companies love – love to market, that is. I’ve heard numbers as high as 20% when it comes to companies’ revenues from marketing these promotional products. Remember, distributors don’t make commissions off of their tools in most cases. This is an income that goes directly to the powers that be. I guess we can see why this aspect of marketing is so important to these companies.

One of the last reasons given on the hesitancy of these companies to embrace social-media marketing is the idea of branding. Social media marketing encourages marketers to brand themselves and create a following directed at them, as an individual. This is in direct opposition to what many network marketing companies desire. Competition in the industry is fierce. Since the onset of social media, companies have seen an increase in turn over within their sales force. The analogy “the grass is greener on the other side”has never rung more true than when it comes to the network marketing industry in the new media age. Unfortunately, as sales pitches go, they’re meant to make the company and products look the best with little to no concern for the distributors. Which means when the going gets tough, many distributors will start looking to the horizons for their next venture, and promises of a new day.

Competition between product to product and company to company is one thing. Competition from leadership to leadership is an entirely different beast. The network marketing industry survives and thrives on its sales force. So, if a distributor feels they’re not getting all they can out of their uplines then they start to become disgruntled, looking around for that special leader that everyone else is raving about. If that leader happens to be branded and has created an empire based solely on their own image, it makes the prospect of working with that individual even more enticing. Exactly what a company does not want. Because if that branded individual ever decided to leave the company, they would take their entire sales force with them in a blink of an eye.

And finally, change is difficult. Many companies’ top income earners are also their founding distributors. Founding distributors who’ve built their organization on tried and true methods. Granted, they’re methods that are now ten or more years old, but they’re what those top leaders are comfortable with. Creating a drastic change like implementing social-media marketing is a huge risk to take. Company owners tend to be on the fence when it comes to pleasing and remaining loyal to their top producing associates, and pleasing the new wave of individuals streaming in. Implement the changes too soon, or too quickly, and you could wipe out your entire organization in the matter of months.

The Glory of Social Media

Twitter, Facebook, YouTube, Linkedin, Pinterest, Reddit, and the list goes on. What do they all have in common? They’re all free, they’re all popular, and they’re all seriously lucrative. Most of all, it’s completely made our small world even smaller. All of a sudden, you’re networking with people from around the world and chatting with them like they’re your next door neighbor. This means an ever growing prospective market.

Websites are one-dimensional and social media has given companies of all shapes and sizes a chance to become two-dimensional. What does this mean? For the first time in business history companies and representatives are able to interact on a regular basis with their prospective and current clients. Interaction not only can mean a better experience for the client-consumer, but it can also mean a better understanding of customer needs.

So what does this mean for network marketing? Network marketing was one of the first industries to really implement the personal touch of salesman to prospective buyer. From Tupperware parties to the Avon lady calling, the personal representative there to answer your calls and provide the ultimate experience in customer service.

Now that can be taken to the next level. Individuals can brand themselves and their image – making it much more than a personal buying experience. More than that, it will be easier to build their own sales organization because – going back to what was stated earlier – people love to talk about themselves.

What is branding?

Brick Marketing, a marketing company that focuses on SEO, explains branding this way; To understand branding, it is important to know what brands are. A brand is the idea or image of a specific product or service that consumers connect with, by identifying the name, logo, slogan, or design of the company who owns the idea or image. Branding is when that idea or image is marketed so that it is recognizable by more and more people, and identified with a certain service or product when there are many other companies offering the same service or product. Advertising professionals work on branding not only to build brand recognition, but also to build good reputations and a set of standards to which the company should strive to maintain or surpass. Branding is an important part of Internet commerce, as branding allows companies to build their reputations as well as expand beyond the original product and service, and add to the revenue generated by the original brand.

One of the most essentials of what branding is, is recognition of an image – something people can identify with. Often times, people have a brand image and don’t even realize it. Mostly because they aren’t consciously marketing themselves. What is this person known for? A friend that I work with is always posting law of attraction type quotes and statuses. She’s very into the metaphysical aspect of business and growth. I often see her tagged in statuses that related to the law of attraction from her friends and colleagues. Without realizing it, she has branded herself as a metaphysical, law of attraction, business woman. Imagine if she were to consciously start branding herself. Her business would grow exponentially because she would be speaking on something she is very passionate about, something from the heart. People would easily see her as an expert.

Now, at this point, I know adversaries might suggest that she would limit her demographic by branding in something so specific. I would tell them that they are wrong. Niche marketing helps with budgeting for ads, helps build a defined website and gives a better understanding of direct consumer needs. It also expands your market past your typical individuals looking for a home based business or even those that the rest of your competitors are targeting. People like to buy from people they like, they relate to, and they have built bridges from. My friend who is into metaphysics is an internet marketer and has recently started a fan page dedicated to spiritual marketing. It’s easy for her to market her business that way because it’s something she already knows and a language she already speaks. Her social media fan base is very targeted and instead of just being another internet marketer like the millions already out there, she’s offering something unique and special to a very specific market. Social media takes this concept of branding to another level. The level of interaction further establishes the personality of the brand.

Where is the market going?

Dan Lyons, a blogger for Hubspot, recently attended a Google conference and shared the new products being rolled out. This is a great indication of market demands and upcoming changes. He said, “The big-picture takeaway, to me anyway, was that Google, across almost every part of its business, is trying to create a world where websites know more and more about us and where marketers can deliver better, more tailored information and content.”

What does this mean for the network marketing industry and social media? For those that are implementing branding and social-media into their marketing plan are already at an advantage. This is clear that consumers desire a more personalized experience and they will be more drawn to those that are offering it. It’s a score for the network marketing industry, and a win for those in the industry who are and will be integrating all the joys of social media.

Does this mean you need to implement every corner of social media and all the gadgets that are out there? No. It simply means you need to start somewhere and layer on the ones that make the most sense to you. Like any good portfolio, diversity is key. A marketing portfolio is no different and should follow the same rules.

So, is social media hurting or helping our industry? Ultimately, it is only helping those that are taking advantage of it and it is most certainly hurting those that are not. Eventually, I predict the companies that are resistant to the change will fade into the sunset as the ones that change with the times and continue to offer the marketplace what they need will thrive and prosper. The question is, what are you doing to make sure you too, stay ahead of the market and offer your client what they desire?

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Non Directional Trading Tips

Jun 04 2023 Published by admin under Uncategorized

The use of non directional trading tips is a very important aspect of non direction trading since this field of business interaction is a very complex and possesses a lot of confusing elements. Basically, the teachings of non directional training revolve around the issue of risks and how to deal with it.

Everybody in the world of business is well aware of the dangers and hazards of trading. By avoiding it, one could find security and stability. The first among the non directional trading tips that should be used is how to establish a steady form of business transaction that is not dependent on the direction of the market. Non directional means to evade any direction the market would head.

Businesses that establish themselves on a permanent position always lose. For example, one business has built itself around real estate. Once the real estate sector goes down, the business will go down with it. By adhering to a fluid form of commodity such as currency, success could be gained. This is the second topic used to illustrate the non directional trading tips. By engaging in the currency trading market, one would have the option to earn whatever the situation maybe.

This is the main principle of the use of non directional trading tips. By using the currency with an advantage in the market, the trader and marketer could easily establish a secure base of income. The only danger of this process is timing. The trader should acquire the currency that would gain value before it does. The main income of the trader using the non directional trading tips is the interest of the currency value increase.

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Direct Sales Is Going Mobile

Jun 03 2023 Published by admin under Uncategorized

Going mobile has implied so much in today’s world, especially in business. The constantly changing technological advancement has affected how businesses run today. For the direct selling business, this advancement also presents many advantages that would mean boost in sales and growth if properly utilized. Direct selling mobile software can be used to keep abreast with the demands of sales mobility.

Embracing mobility in the direct selling business needs to be planned well. The company should analyze first if it is ready to jump into a mobile system before committing to anything. Here is a checklist of the important things the company should work on before proceeding with its decision to go mobile.

1. Identify your company’s goals and purposes for implementing a mobile platform. The top reasons why your company should consider using mobile-based technology are increasing site traffic, increasing customer acquisition, and increasing marketing ROI.

2. Know if your company has an IT and marketing infrastructure that can support the real-time readiness required for this platform. Check if your website is mobile enabled and if you’re marketing campaigns is mobile ready. Know also if you are ready for massive growth and activity.

3. For a typical mobile platform, you will need: content management system that offers centralized management to deliver various media and content through different channels like mobile, personal websites, corporate sites, regional sites, and sales rep business portals; SMS abilities to send out instant messages about a new recruit, promotions, events, and more; an email system that can collaborate with other marketing efforts in real-time; and promotional tools that enables real time flexibility.

4. Establish on how you will identify success. Determine how your mobile platform adds to your revenues. Understand how to measure and how to act on the business based on measurements. Properly penetrate the market and monitor consumer growth rate. Learn how to analyze your numbers and make strategic decisions founded on true audience behavior and purchasing patterns.

After looking into and analyzing all these things, determine whether your company has the technology and personnel to build up and maintain the mobile platform and keep it going as efficiently as it should.

The increased mobile usage will result to growth in e-commerce. If your company is ready and equipped for this technology, robust increase in sales is very feasible. The next step you should take is to develop a solid roll out to your sales force. Every member of the team should have a steady access and proper training of the platform lest a sales activity might get lost. Give the sales force proper and extensive training on how to maximize the platform especially during a sales call.

Another crucial thing is for the sales force to be able to pass to their clients the purpose and uses of the mobile platform for easier ordering and payments. You can just imagine how these busy people will be so grateful to have done so many things including purchasing their favorite products from you with just a few clicks on their mobile devices. That is how dynamic direct selling mobile software can be.

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