Learn Why Market America In Greensboro, North Carolina Is Leading This Online Economy

Headquartered on the east coast of the United States is the internet marketing and product brokerage super-power Market America, Inc. Market America settled in Greensboro, North Carolina back in 1992 and has grown leaps and bounds, experiencing epic growth since, all while never look back for even a second!

JR Ridinger is an absolute genius internet mogul. JR (James Ridinger) is the orchestrator who built the footprint for the company, and since the early days, JR has compounded his passions, talents and ability to lead an ever-expanding 200,000 plus independent sales force to believe in the unbelievable.

Since inception, MA’s track record has painted a canvas that has led to nothing short of complexion perfection. They are on a pace to break what has gotten to be an unofficial world record in having NEVER to experience a down quarter of loss financially – they’re approaching 20 now since inception.

Although Market America’s world headquarters is Greensboro, North Carolina, they have started an emerging growth pattern of migrating to other countries each of the last 3 years. First it was Canada and Australia, next was Hong Kong and Taiwan, and most recently Market Philippines opened its doors for expansion.

Things have really exploded internationally for the company. Mexico, England and many of the Latin countries have been identified as a good fit for MA’s distribution model. MA’s rallying cry of being built on product and powered by people┬« is by-no-means planning to slow down as the company approaches online history.

And just when outsiders thought MA was getting complacent and set in their ways; they just recently acquired the ownership rights to the cyber-space powerhouse shop.com. This deal is going to increase production in a way that is going to propel them into a billion dollar company, as well as double their customer base to 5.7 million.

The appeal of Market America to future business owners has much to do with their franchise-like business system that they termed the UnFranchise┬«. By leveraging the ‘tools of technology’ and “artificial intelligence” of the internet, any current or future internet enabled entrepreneur can power their business building efforts behind the engine of the most preeminent online shopping destination today.

Many of the highest regarded internet based shopping super-sites can’t hold a candle to the power of the people Market America employs. With 500+ worldwide employees and 200,000+ UnFranchise┬« owners, you’ll find that with their health and nutrition, cosmetics and skin care, anti-aging, MA Web center and Paid-2-Shop brokerage divisions, Market America world headquartered in Greensboro, North Carolina is leading the online marketplace and is fast approaching amazon.com as the top-dog in online shopping.

Online Backup or Backup Disaster Recovery Solutions, What’s Best for You?

We won’t state the obvious, but we all know the importance of backup. If any business is not meticulously backing up their data, they are making a tremendous mistake. Having your data compromised, lost or corrupt will create chaos in your environment and could cost your business thousand of dollars. What business owners don’t realize is that having your employee seating around while your IT is recovering your data, or server, also costs money.

Think about it, if you pay your employee $10 an hour, and they work 8 hours a day, you have to pay them $80 a day correct? (Of course we are not considering, taxes, insurance, etc). If your server is down or if the data is corrupt and it takes 4 hours to recover it, your employee does not cost you $10 an hour. Your employee costs you $20 an hour because he/she only worked 4 hours out of 8. Multiply this by the number of employees you have and you’ll have an idea of the damage.

Corrupt data or having your server down, affects your sales, production and if the recovery takes too long, you could potentially go out of business. According to business reports, 70% of small business that have major data loss go out of business within a year. Hardware cost has dropped dramatically and today, anyone can afford a decent backup solution. We will cover two solutions in this article and we will help you see which one is best for your business. The first is simply a local to online cloud backup solution. The second is a backup disaster recovery solution with online cloud backup.

If your business has no critical applications and if your business won’t be affected if your server is down, you can consider a local to online cloud backup solution. A typical business with no critical application is one that only has a file server in place. One may argue that even if a file server is down for a couple of hours, it could affect the business, we agree with you. But let’s say that this is a simple file server, with no active directory, no access right, no critical applications and being down for a couple of hours is acceptable. For such a business a local to online cloud backup should suffice. Why? A local to online cloud backup will do the following:

  1. Backup your raw data on an external hardware (local but outside of the server)
  2. Push another copy of the raw data to the online cloud backup.

So if the server crashes, the data is corrupt or lost, you can quickly recover it from your local hardware. If something were to happen to your entire office, such as fire, water damage, or any direct or indirect disaster, you can recover your data from the online cloud backup, from anywhere. And having this data accessible to you from anywhere at any time, could potentially save your business. Consider the following when researching for an online backup solution:

  • Good security that meets your company requirements and compliance, such as encryption, PCI, SAS 70, or HIPAA etc.
  • Make sure the company you select has a couple of data centers all around the country, so if one is down, you can still access your data from the others.
  • Make sure the upload speed is fast. If your data takes too long to upload, you could be waiting for weeks before the first backup is done.
  • Make sure there is no file size limitation. If one of your files is too big, it could fail to upload.

If your business today has critical applications and your servers can’t be down, consider a Backup Disaster Recovery solution. One of the biggest challenges companies face is how to maximize business continuity and avoid business disruption following a server failure or data loss.

Some BDR (Backup Disaster Recovery) solutions provide fast and reliable data backup, protection, disaster recovery, and system migration to get servers online or data recovered as quickly as possible following a disaster. How does that work? A BDR solution will take an image of your entire server and store it on an external hardware. Another copy of the image will be pushed to the online cloud backup.

So what is the difference between this solution and the first one we described before?

If the server goes down due to physical or software reasons (or disaster), you can use the backup file, and mount it as a virtual machine. That means you won’t have to reinstall the operating system, your applications, configure the applications and the server etc. This can potentially save your days of work, and thousands of dollars. We mean it, days of work and thousand of dollars. On top of that, if your entire site goes down, depending on the online cloud backup vendor, they can mount your server virtually on their servers in the cloud and provide you with a VPN access. So if your environment goes down, you now have your exact server, from the last backup set, running in the cloud. No need to have extra hardware, or software for this. These solutions are becoming more common. We call them hybrid BDR solutions because they do not force a client to purchase local hardware and lock them on a big initial setup fee. You only pay for the online virtual server mount if your entire site goes down. No extra hardware monthly fee or extra cost, making these solutions absolutely affordable. SMBs and MMBs can now have the same type of backup solutions enterprise businesses use.

Consider the following when researching for a BDR solution.

  • The BDR’s backup file should be your entire server image.
  • The BDR solution should seamlessly takes incremental backup as often as every 15 minutes if needed.
  • The incremental backups should be fast, automatic, and continuously occurring in the background.
  • The solution should have the ability to restore the backup into a virtual environment such as Oracle Virtual box, VMware, Or Microsoft HyperV. (The entire system will be restored into a virtual machine).
  • The BDR solution should allow file and folder recovery.
  • It should allow bare metal recovery. In case you want to recover the server on a dissimilar hardware.
  • The online backup should have the ability to upload the local images files securely to the cloud.

So overall, when considering a backup solution you’ll need to understand your company needs, requirements and what the company can tolerate in case of an outage. With this information, you should be able to either select a local to online cloud backup or BDR solution. Both of these solutions are very inexpensive and every business should take advantage of them. You can purchase a monthly license for the BDR solution and pay as little as 50 cents per gig for cloud space. Don’t risk losing your business data for few dollars a month.

The Secret of Effective Online Merchandising – All About Behavioral Merchandising

Behavioral merchandising is the art and science of using customer behavior to place, promote and display products in order to maximize retail sales revenue. In an online retail context, examples includes using data on where visitors come from, what they search for, what they click on and what they buy, to drive as relevant product promotions to each visitor at every point of interaction as possible.

Example applications include features such as “people who, like you, came here from… searching for… usually ended up buying…” and “customers who bought this item also bought…”.

Behavioral merchandising was originally made famous by Amazon.com, but has evolved much further. Today, it is practiced at online retailers everywhere on the globe – companies whose turnover can be anything from $1 million to $1 billion and beyond.

The popularity of behavioral merchandising stems from the fact that it has been proven to be up to 300% more effective than customer segmentation in impacting sales per visitor through raising conversion rates and average order values.

Behavioral merchandising offers a personalized shopping experience for visitors that is highly relevant, trustworthy, and that adapts to changing customer preferences automatically. The automation aspect also means it offers retailers an opportunity to cut costs of manual merchandising, while at the same time achieving better results.

What is merchandising?

“Merchandising means maximizing merchandise sales using product selection, product design, product packaging, product pricing, and product display that stimulates consumers to spend more. This includes disciplines in pricing and discounting, physical presentation of products and displays, and the decisions about which products should be presented to which customers at what time.”

An Established Practice

To explain behavioral merchandising it is beneficial to first look at its roots.

Merchandising is a relatively old practice used by retail stores to increase sales. Some well-known examples of traditional merchandising include placing and promoting – Candy by the check-outs – Children’s yogurt at the eye level of children – Milk at the back of the store

Predictably, merchandising has migrated into electronic sales and is today a natural part of every major e-commerce site. As in the traditional sense, electronic merchandising is about maximizing the conversion rate and the average order value through displaying the right products in the right way to the right individuals.

Why Merchandising Matters

We have established that retail merchandising is the art of increasing sales, in other words maximizing sales revenue from a given audience of visitors to a retail outlet. To understand the importance of merchandising, we must also put it in relation to advertising, which is basically the art and process of driving an audience of visitors to the outlet in the first place.

A retail outlet will typically want to spend a given amount of money on advertising to drive as much relevant traffic as possible to the outlet – maximizing the performance metric cost-per-visitor or cost-per-click as it is often referred to.

The retail outlet will then want to practice the best possible merchandising in order to convert this traffic into as many buying customers as possible – maximizing the performance metric conversion rate. To generate as much value out of the traffic generated the retail outlet want to make each visitor to buy as much as possible – maximizing the performance metric average order value.

In short, the success of the retailer’s efforts in maximizing cost-per-visitor, conversion rate and average order value will more or less define the sales revenue generated by the outlet. Adding the cost-of-goods-sold margin or average product margin completes the model to define the operating profit that the outlet will generate.

It becomes clear that there are basically four levers that the manager of a retail outlet can pull to try to maximize profits. Unfortunately not all the four levers are under the retailer’s control.

The ultimate aim of advertising, merchandising and purchasing combined is to maximize the operating profit of the retailer. Four key performance metrics that define the success of this process – Cost Per Click, Conversion Rate, Average Order Value, and Cost of Goods Sold margin. But only the Conversion Rate and Average Order Value metrics, which together quantify the success of the merchandising process, are directly under the retailer’s control. ‘ In an online environment much of the traffic is purchased along a CPC-model. CPC is the cost-per click or cost-per-visitor paid to a media company for each visitor driven to the e-commerce site. The CPC-prices are relatively perfectly priced through supply and demand. The retailer must simply pay what the market demands for advertising.

The gross margin for products sold is primarily dependent on the success of the other levers, i.e. on the volume bought by the retailer – so it cannot be pulled independently. This leaves the retailer with two levers that are in his control to maximize: the “conversion rate” and the “average order value”. Together they quantify the success of the retailer’s merchandising process.

In other words, merchandising offers the two levers for profitability that is uniquely in the control of any given retailer to maximize the revenue in order to deliver better financial results than the competition.

Three Methods Of Merchandising

Electronic merchandising can be divided into three methods: mass-, segmented- and personalized merchandising,

Each of the methods can be found also in “offline” retail merchandising – Mass merchandising: The approach that by necessity is used in stores, as the store assortment is the same for every visitor. – Segmented merchandising: The approach typically used by mail order companies, in which separate catalogues are constructed to match the expected interests of a certain user demography (e.g., region, age, gender) or product category. – Personalized merchandising: Shopping assistants or “personal shoppers” who guide the visitor through the store highlighting and recommending items based on their understanding of the user’s profile and needs.

The mass and segmented approaches are typically top-down approaches; one or a small group of people (employees of the retailer) creates and manually administrates the merchandising.

Personalized merchandising is almost inherently a bottom-up approach as it is impossible or exceedingly expensive for the retailer to manually create personalization for each and every customer or product. Bottom-up meaning a web 2.0-like approach, in which all visitors contribute to the merchandising either explicitly (by submitting ratings, reviews, listings etc) or implicitly (by the data they provide through their actions taken on the site)

Explicit contributions are typically made intentionally by a smaller sub-set of all visitors – according to usability expert Jakob Nielsen, as little as 1 out of every 100 users on a typical social site. All visitors, on the other hand, inherently make implicit contributions – intentionally or not. Combined, these user generated contributions can be mined as a collective and form the basis for behavioral merchandising. ‘ What is behavioral merchandising?

Personalized Merchandising

Behavioral merchandising (“BEM”) means using customer contributed behavioral data to automatically achieve a credible and efficient merchandising. BEM was made famous through Amazon’s implementation of “those who bought this also bought”, but has evolved to be much more than that. One might call BEM the combination or intersection of retail merchandising and social networks. In effect, BEM in an online retail context means turning an e-commerce site into a social network focused on creating a pleasant, socially interactive and interesting personal shopping experience for visitors.

As mentioned previously, there are two types of BEM; implicit and explicit. With implicit BEM the actions that are taken by customers – click patterns, searches done, products purchased – are analyzed and used to create the merchandising. Explicit BEM is when customers explicitly say something about a product, for example submitting a review or recommending a product to a friend.

Implicit

– Those who bought this also – Recommendations based on the product currently being viewed. – Based on all your previous interactions with us, our community of users thinks you’re looking for… – Recommendations to an individual customer. – Based on the contents of your shopping cart, our community of users thinks you might want to add one of the following items… – Recommendations based on the content of the basket. – Based on the way you’ve navigated our site so far, our community of users thinks you’re looking for… – Recommendations based on clicks made on a site. – Those who searched for… selected…. – Recommended search results. – Those like you who came here from… searching for… usually ended up buying… – Adaptive landing pages based on the search phrase used on an external search engine such as Google, which site a visitor arrived from, and visitor data such as browser, operating system and language.

Explicit – Ratings & reviews – Share this product with a friend, e.g., by email, link or to a social network – Customer-created product lists

Social Network Service “A social network service uses software to build online social networks for communities of people who share interests and activities or who are interested in exploring the interests and activities of others.” Source: Wikipedia

The Value Of Behavioral Merchandising

The ultimate rationale for BEM lies of course in the superior contribution to financial success that it brings to retailers in comparison to the other available approaches to merchandising. Studies have shown that measured as revenue-per-visitor (i.e., the combined contribution to conversion rate and average order value) the contribution of BEM is up to 300% greater than the contribution that a segmented merchandising approach will give.

The primary explanations to the superior results delivered by BEM lies primarily in that BEM is: – Relevant: Because all customers combined are always more likely to collectively possess greater knowledge about all products as well as the way they are purchased and consumed than a limited team of professional merchandisers. BEM gives each individual visitor a more personally relevant shopping experience, helping each one to find precisely the products or promotions that is most relevant to them in each given situation. FIGURE 3 – COMPARING BEHAVIORAL MERCHANDISING WITH OTHER APPROACHES Personalized merchandising using behavioral methods has proven by far the most effective In studies conducted by Avail at customers, behavioral merchandising has generated up to 300% better results than segmented merchandising by being more relevant, trustworthy and adaptive.

– Trustworthy: BEM is ultimately generated by peer consumers, as opposed to by marketing professionals which is the case in all other approaches, and thus creates trust. Research clearly shows that consumers are much more likely to trust peers than professional marketers, in particular online.

– Adaptive: Because BEM can be made to take into account the collective behavior of all visitors in real-time, it can respond to quickly changing – and sometimes fickle – preferences of visitors and consumers and it can apply that response in real-time from one interaction to another by the same visitor during a visit to the outlet.

Apart from the superior contribution to revenue-per-visitor, BEM has several other advantages over other approaches, including the fact that it can be made highly or completely automated, requiring no on-going human administration or maintenance and so reducing the cost of merchandising operations, even for very large product ranges and very large groups of visitors.

Getting Started With Behavioral Merchandising

In the infancy of behavioral merchandising, e-commerce retailers were often forced by necessity to create their own software, as 3rd party solutions were either unavailable or not mature enough to be practically useful.

However, due to the sophisticated algorithm development necessary, as well as the general cost and organizational impact of large-scale software development, more and more retailers are abandoning in-house developed solutions for cost-effective and proven online merchandising platforms from established vendors such as Avail Inteligence.