Hill defined a mastermind as an alliance of two or more people, working together in a spirit of perfect harmony to accomplish a definite purpose. Strategic alliances represent a key to unlocking the 'mastermind principle' and creating profound success for your online enterprise.

The nature of the typical client/vendor relationship does not create a common objective under which both parties can work together in a "spirit of perfect harmony." Most companies hire a vendor to develop their website, provide paid-for promotion services at the lowest possible cost. The vendor is motivated to provide their services as economically as possible so they can move on to the next development project. 

However, successful online marketing is not a one-time job. It's an ongoing process. Updates to content are a necessity and standard promotion techniques that work for one product or service, may not work for another. Ongoing evaluation and shifts in marketing strategies can be a necessity to reach your projected audience or to adjust your marketing focus as new, and often unexpected, markets present themselves. These aspects of Internet marketing make forging a strategic alliance for your web site development a natural winner.

Opportunities for strategic alliances are also available through other trade relationships. Alliances in the form of affiliate marketing and referral marketing can have a tremendous impact on your online success... look no further than Amazon.com. Even the search engines bear this out as rank criteria is significantly based on the number of links to your site.

According to Brian Tracy, one of the top success experts in the world, the old sales paradigm was based on 10% relationship building, 20% product knowledge, and 70% closing. The new paradigm has flipped to 70% relationship building, 20% product knowledge and 10% closing. This new model certainly holds true with Internet marketing and creating win-win alliances.

How can you negotiate collaborative alliances to create win-win Internet marketing strategies? Consider offering equity in your business or paying a commission on actual website sales to create a vested relationship with your developer. Look for affiliated non-competitive products and services with which you can trade referrals and share in the benefits. Strategic alliances can serve to reduce the risks related to non-performance and can go far in expanding your revenue earning (and sharing) opportunities. It is apparent that the Mastermind Principle and the new sales paradigm are applicable to successful Internet marketing. 

[Published in the Everett (WA) Herald Business Journal]

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Internet Marketing Influencing In-Store Sales
by Debra L. Malmos, President
iFULL Enterprises

Companies that have no intention of selling their products online will be missing retail sales opportunities in their bricks-and-mortar establishments if they don't take advantage of the Internet marketing channel. US online consumers will spend in excess of $632 billion in off-line channels as a direct result of research that they conduct on the Web; the amount dwarfs that of the $199 billion that consumers will spend on the Internet, according to new forecasts from Jupiter Communications, Inc. Businesses must take a broad view of what constitutes success online and focus on building an integrated Web presence in order to capture or influence transactions generated online, as well as those generated off-line.

Almost 2 in 3 Americans over the age of 12 have access to the Internet and half of those go online every day, according to ACNielsen. Regular users are likely to spend at least an hour online at a time. Evidently, users that aren't buying online are researching the products and services that they intend to buy elsewhere. Jupiter reports that US online users will account for 75 percent of all expected US retail spending (both online and off-line) in 2005, up from 43 percent in 1999.

The truth is that Americans are still tech pessimists, who will rely on the sense of security they relate to buying, from local retailers and established brands. Businesses that rely solely on in-store retail sales can use the Web to provide more outlets to buying or researching products. Searchable databases of products with more complete product descriptions and pricing information will serve as a valuable marketing tool. And, providing information about in-store inventory may be just as important as providing information about the products you sell online.

Businesses can also benefit by comparing online and in-store venues and capitalizing on the differences. For example, traditional retail stores close. The Internet stays open. A valuable benefit to in-store customers is using the Internet to expand customer service. If a consumer felt they could attain 24-hour customer service through a website, their buying decision could certainly be influenced. Consider what information your customer may want to find out after regular store hours and make it available on the Internet. Or consider what information you can provide via the Internet that serves the consumer after the sale. An excellent example of Internet-based post-sale customer service is UPS's online tracking service.

Competitive pricing has become more important, especially for large ticket items and price sensitive products like CDs. People are using the web to take control as informed customers to avoid what they perceive as price gouging. They may be quick to formulate opinions regarding your pricing practices, and be very unforgiving.

While many businesses see their online and off-line efforts as separate and distinct from their traditional channels, online consumers appear to be far more fluid, choosing to do business with a given company across its multiple channels. A recent Jupiter/NFO Consumer Survey found that more than 68 percent of online buyers said they researched products online and then purchased them at a physical store; 47 percent of respondents said they then bought via phone.

Businesses will need to track their customers across all channels. The retailer that does not understand the impact of the Internet on its store and catalog channels is likely to under-invest in the Internet, missing opportunities to capture incremental sales in all channels. 

[Published in the Everett (WA) Herald Business Journal]

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Biographical Information

Debra L. Malmos AAP is President & CEO of iFULL Enterprises, Inc., an Internet service provider and web site development business. Debra has been involved in web site development and Internet marketing since 1995. She launched iFULL Enterprises, Inc. in 1997.

Debra is an accredited payment industry expert with over 20 years of experience in the financial industry. Ms. Malmos served for 11 years as Director of Education and Training for Mid-America Payment Exchange, one of the largest regional banking associations in the nation. Debra has spent 18 years as a professional trainer with over 2,700 hours of public speaking experience. In addition, Ms. Malmos is a published author of nationally distributed payment industry publications and articles and has experience as a producer and scriptwriter for industrial videos. The scope of her background includes marketing, data processing services and financial operations with emphasis in accounting, audit and cash management.

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