The Quest for Target Marketing on the Web Inexact at Best

I read a great article in the Wall Street Journal yesterday about how one of the publication’s reporters researched firms that claim to be able to track our web browsing and use that information to sell it to marketing firms looking to target people with particular interests is falling short of being an exact science.

The reporter, Emily Steel wrote that one such firm had a file that identified her as a “hip homemaker, who probably trades stocks, buys expensive clothes and boats.” It couldn’t have been more inaccurate according to Steel as she goes on to explain the methodology and technical machinations internet marketing research firms use to compile data on web searchers tendencies.

For one, I’m glad that there are a lot of inaccuracies in tracing web searching as it pertains to actually identifying who we are and what we like. It is pretty invasive as far as privacy is concerned.

But, I think this reinforces the idea that the best way to invest marketing dollars is to do our own research. You can do that by spending marketing dollars to attract those interested in your products to your website and provide value up front in exchange for contact information so that we can build your own direct marketing database.

By doing so you have direct knowledge that these individuals have raised their hand proclaiming interest in your product and as such you know for sure you have something they may want to buy at some point in the future. It is then up to you to stay in contact with that person so that you are top of mind when they are ready to buy.

Here’s the link to the article in the WSJ, I hope you find it as interesting as I did.

Learn the 4-Primary Ways to Build a Business in New Webcast…

This week on Monday afternoon during my bi-monthly webcast I’ll be offering solutions to the Business Myths and causes of Business Failure I shared in our first “How to Create a Champion Business” webcast two weeks ago.

I’ll be providing in-depth strategies from my 5-Step C.H.A.M.P. Business model as well as discussing the 4-primary ways to build a business.

To subscribe to this webcast please visit:
www.WeismanSuccessResources.com/webcasts

During this webcast you will be able to ask questions and answer surveys during the 60-minute interactive program.

Attract More Prospects & Retain More Present Customers With Free Gas

If you would like to explode your prospecting and have an inexpensive way to thank you present customers for doing business with you, then you must join me Monday afternoon, September 15th at 2pm Eastern time for a free webcast to learn how you can use Free Gas Certificates to achieve those results.

Many of my clients have already taken advantage of this program and are reaping the benefits and getting ahead of their competition. Go to this link  www.WeismanSuccessResources.com/webcasts  to register for Monday afternoon’s free webcast.

To get a head start on the webcast visit www.WeismanSuccessResources.com/freegasprogram to learn more and bring your questions to the webcast where I will answer them for you and other subscribers live on the webcast.

Depositing & Withdrawing From the “Bank of Reciprocity”

In Robert Cialdini’s book Influence - The Psychology of Persausion he talks about the “Law of Reciprocity” being a secret to successfuly influencing others to help you achieve your goals. The founder of Business Networking International (BNI), Ivan Misner espouses all members to network applying the “Giver’s Gain” philosophy.

These are just two very successful business people who espouse this approach. Another is Larry Benet, who bills himself as “The Connector.” Benet suggests one of the first questions we ask when we meet someone we want to bring into our sphere of influence is, “What is the most important project you are presently involved with that I or someone in my extensive network could help you with?”

All of these philosophies allow us to make deposits into what I call the “Bank of Reciprocity” which, when you really think about it, works just like a real bank.

When you deposit cash or a paycheck into your bank account it goes into the general banks cash deposits and gets all mixed up with everyone else’s money. When you go back to the bank to make a withdrawal you don’t get the specific money you originally deposited, you get money out of the general cash on hand.

The “Bank of Reciprocity” works the same way, like this…

Yesterday I spent an hour on the phone providing advice to a business colleague n the early stages of building his consulting practice. About a month ago I did the same with a colleague who was looking for advice on strategies to employ in a new workshop she has been asked to deliver to a new client.

Each of these colleagues I met through other workshops and coaching programs to which we both subscribe. At the end of our brief time on the phone both expressed sincere and overwhelming gratitude for the time I spent with them.

I believe it was my duty to help non-competing colleagues move their business forward. For one, its the right thing to do and secondly, its how I make deposits into the Law of Reciprocity.

I’ve made my withdrawals as well, although those withdrawals have come not from these individuals but others who are well versed and more experienced in certain strategies I wish to incorporate into my business.

So, you see the Law of Reciprocity doesn’t mean that the person you give to will be the one to directly pay you back. The reciprocal actions come from others because you have deposited into the reciprocity bank.

In my business of coaching and consulting it is important to set boundaries for the time spent in providing non-compensated advice and depositing into the Bank of Reciprocity. I also try to limit to about 1 hour per month and that is about the same time invest in withdrawing from the bank as well.

So, it all works out in the end, if you work it right and manage your time and resources properly. And, it builds your credibility in the marketplace and adds to your expertise as it is always a great idea to teach what you know because doing so allows you to learn it even better when you have to teach it.

Give it a try. It’s one component of business success.