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Mary Kay Convention Attracts More Than 7,000 Attendees

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With those iconic, traffic-stopping Mary Kay pink Cadillacs rolling into Georgiaalong with more than 7,000 Mary Kay Independent Sales Directors, the city of Atlanta is turning from peach to pink for the beauty company’s annual U.S. Leadership Conference.

The top beauty brand and direct seller in nearly 40 countries around the world kicks off the conference on Jan. 14 at the Georgia World Congress Center bringing $8.4 million in direct spending and an opportunity to give back to its host city.

While the four-day event focuses on recognizing, educating and motivating leaders from across the country within Mary Kay’s independent sales force, attendees will also assemble 2,000 care kits to distribute to five Atlanta area domestic violence shelters: Forsyth County Family Haven, Gateway House, Partnership Against Domestic Violence, NOA’s Ark/No One Alone and Project Safe.

The care kits are filled with Mary Kay® basic hygiene products and offer a source of comfort to women at emergency shelters who often flee abusive situations with little personal belongings.

“From soaps to lotions to everyday skin care products, our clients are in desperate need of any and all necessities after many have fled unthinkable circumstances,” said Nancy Friauf, President and CEO at Partnership Against Domestic Violence. 

“Throughout the years, Mary Kay Inc. and The Mary Kay Foundation?  have continued to serve as steadfast and committed supporters of our shelter along with many other domestic violence organizations in the Atlanta area and across the country.  To receive these care kits and the Company’s unwavering dedication is not only a gift but also allows us to focus on serving the survivors of an epidemic that impacts one in four women in the United States.”

Each year, Mary Kay holds its U.S. Leadership Conference in a different city. Independent Sales Directors and Independent National Sales Directors offer leadership and motivation to the growing Mary Kay independent sales force worldwide.  According to the Atlanta Convention & Visitors Bureau, the 2018 conference will pump $8.4 million into the local economy. This marks the third time Mary Kay has held its annual Leadership Conference in Atlanta following events in 2006 and again in 2012.

“Known for its diverse cultural heritage and Southern hospitality, we’re thrilled to be back in Atlanta for our third time as thousands of our independent sales force members paint the town pink,” said Nathan Moore, President of Mary Kay Inc.’s North America Region.

“Nearly 55 years ago, Mary Kay Ash founded our company on the Golden Rule and emphasized the importance of giving back.  It’s part of the Mary Kay heritage and we’re honored to give back to our host city by assembling and distributing much-needed care kits to Atlanta area domestic violence shelters.”

To date, Mary Kay Inc. and The Mary Kay Foundation? have donated $57 million to domestic violence prevention and awareness programs in an effort to end the cycle of abuse. For more information about Mary Kay’s commitment to end domestic violence visit marykay.com/dontlookaway .

About Mary Kay

At Mary Kay, success lies in our dedication to irresistible products, a rewarding opportunity and positive community impact.  For more than 54 years, Mary Kay has inspired women to achieve their entrepreneurial goals in nearly 40 countries.  As a multibillion-dollar company, we offer the latest in cutting-edge skin care, bold color cosmetics and fragrances. Discover more reasons to love Mary Kay at marykay.com .

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Mavro (MVR): Financial Solutions for the Multi-Level Marketing … – NB Herard

Striking the Proper Promotional Balance: How Much Discounting Is Too Much?

Dan MurphyThis week’s guest article is from Daniel Murphy, Co-Founder and Managing Principal of Strategic Choice Partners . Dan has over 30 years of experience holding senior finance and operating roles at TJX, Pepsico, Panera Bread, Princess House and Immunotec. For the last 15 years Dan has served as both a CEO, CFO and COO for two party plans and network marketing company respectively. Currently Dan is a consultant specializing in the direct selling industry. Dan also served as the Treasurer of the Direct Selling Educational Foundation and previously served as the Treasurer for the US Direct Selling Association.

Guest Post by Dan Murphy
Striking the Proper Promotional Balance: How Much Discounting Is Too Much?

As we enter a new year, I thought it wise to discuss a key driver of performance in any direct selling business: The mix of promotional offers. As executives and stakeholders in the industry, we know that what moves our business is excitement and enthusiasm.

This energy can come in many different forms: New products, a national convention, a travel incentive trip and most recently, via social media and public relations. I am reminded of a time in the history of one business I was running that it came from the arrest of a consultant for indecency – a charge which was later dropped. The surprisingly positive outcome came thanks to the national public attention and led to the largest increase in sponsoring in the history of the Company! It’s the best example of the adage “There is no such thing as bad press” I’ve ever personally experienced.

One area of great caution when it comes to generating excitement in a direct selling business is the implementation of promotions. Promotions, of course, have an important place in our tool kit of options to generate excitement and enthusiasm. The proper mix of promotions designed to motivate leadership development, sponsoring and sales to either customers or hostesses are crucial to success.

But if this tool is overused, there is the risk of building a reputation as a High/Low seller with customers and consultants waiting for the next big sale to make purchases, creating successive cycles of “boom” followed by “splat.”

A Formula for Proper Discounting

A good rule of thumb when finding your promotional balance is to start with the blended times cost multiple for the business (meaning the relationship between the retail price of the products and their fully loaded landed costs). For example, if the times cost multiple is 7x (meaning I buy an item for a cost of $10.00 and sell it at full price at $70.00), then I can afford to have between 25% to 30% of the business in a period be sold at a discount of between 10% to 30% off.

However, if my times cost multiple is only 5x or 6x, then I must only have 15% to 20% of my total revenue be sold at a discount of 10% to 20% off.

Generally, if your compensation plan pays in the range of 40% to 45%, a mix of 25% of the revenue being sold at a discount of, say, 25% off will yield an after-commission margin of 40% assuming a 7 times cost multiple, which is adequate to cover the overhead and produce a solid profit in most businesses.

Here’s how that works:

  • Full Retail $70
  • Total Units Sold 20
  • Units sold at a discount = 25%, or 5 at $52.50
  • Discount offered = 25%, so the discount is $17.50 x %, or 87.50
  • Total revenue from this item is 15 x $70, or $1,050 (from full retail price), plus 5 x $52.50, or $262.50, so Total Revenue is $1,050 + $262.50,  or $1,312.50
  • Total Cost of goods sold at $10 per unit is $200
  • Total Commissions and Over-rides (assuming a 45% plan payout) is $1,312.50 x 45% = $590
  • Margin after commission and Cost of Goods is $1,312.50 (Total Revenue) – $200 (Total COGS) -$590 (Commissions) = $522.50
  • Margin Rate equals $522.50/ $1312.50, or 39.8%

 
Don’t Forget About the Impact Discounts Have on the Field

Whenever you are making a decision to offer discounts off of normal pricing as a means to generate excitement and revenue, keep in mind that you are also essentially asking your field sales force to CO-OP the price discount with you.  This is a fact that is often overlooked.

Here’s an example of what I mean: An item that would normally sell for $70 full price would generate commissions and overrides of $31.50 assuming a 45% total payout.  That same item sold at a 25% discount would generate commissions and over-rides of only $23.63, a decrease of 27% in total payout.  The Company, on the other hand, gets to discount a product by 25% or in this example $17.50 but the true cost is only $8.77 as the other half is offset by lower commission payout, making the effective cost to the company of 16.7%.

Here’s what it looks like when you work through the assumptions above:

  • Full Retail $70
  • Discount Retail $52.50
  • Commission paid on full retail $70 x 45% = $31.5
  • Commission paid on discounted products $52.5 x 45% = $23.63
  • Commission if 20 sold at full price = $630
  • Commission paid if 15 sold at full price and 5 sold at a discount = $590.50
  • Savings in commissions to the company due to discount is $630-$590.50 = $39.50
  • Total price off to the Company of offering 5 at a discount is $17.50 x 5= 87.50
  • Total price off after accounting for reduced commission $87.50 – $39.50 = $48

 
This may sound confusing, but these details are what your internal team (especially those in marketing and finance) should be reviewing on an ongoing basis. Usually this occurs on the front-end in a period promotion planning session and on the back end by a post-period debrief.

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The post Striking the Proper Promotional Balance: How Much Discounting Is Too Much? appeared first on The World of Direct Selling .

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Top Trainer Rob Sperry Speaker At The European Direct Selling Congress 2018

As an ambitious introvert who has overcome his fear of public speaking, Rob Sperry has unique insights to help you to achieve levels of success you never thought possible.

He is widely known for his non hype straight forward refreshing style.

As a 28 year old Rob Sperry generated over 2 million dollars in volume in his first year in Network Marketing. In 2008, he hung up his racket as a tennis coach and manager of a tennis club to join a multi-billion-dollar Network Marketing company.

In his first year he set the record that year for sponsoring the most new people into the company in a single month.  He reached the highest level in the company in less than a year.

Years after being with his first company in Network Marketing he decided to expand his recruiting efforts with a company outside the Network Marketing industry.  He recruited over a 100 door to door salesmen/saleswomen in less than 4 months for a 3 year old company that sold TV satellite dishes.  Of which 68 left their state to sell for the summer. 

Tickets can be booked here:

European Direct Selling Congress – Reservations

He has consulted for numerous Network Marketing and non Network Marketing companies.  Through these wide range of experiences he has learned different skill sets that have helped him to know how to create systems that recruit, retain and drive people to more success.

Rob has extensive experience in both consulting, training and recruiting teams for all different types of sales companies.

In 2013 Rob became the co-creator of mynt.  mynt was spin off from a 3 billion dollar company (not annual sales but total sales).  mynt was merged officially in June of 2015.   Rob helped assist that merge which is now known as the largest merger in the history of Network Marketing.  Rob attributes his success to great mentors, hard work and always being straightforward/genuine (no hype).

Rob is an entrepreneur who has learned how to recruit, train and create systems for any type of business.

He has been featured many times in Business For Home.

Meet Rob Sperry live at the European Direct Selling Congress in Amsterdam the Netherlands

This kind of quality training is often only available in the USA; and now for Once-In-A-Life-time, coming to Europe – The Netherlands.

It is delivered in a completely generic format. No companies or products are ever mentioned so you will feel safe to share this Business Event with your Team.

Listen, Analyze, Learn, Lunch, Inter-act and have Fun with the ultimate Experts. Discover the Trends, Learn from the Experts!

DeLaMar Theater – Amsterdam

DeLaMar Theater - Amsterdam

DeLaMar Theater – Amsterdam

DeLaMar Theater - Amsterdam

Virtuel Tour through DeLaMar Theater – Amsterdam

VIP and Early Bird tickets can be booked here:

European Direct Selling Congress – Reservations

Original Source

Mavro (MVR): Financial Solutions for the Multi-Level Marketing … – NB Herard

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