PAY IT FORWARD .... Is This Strategy Effective In a Down Economy

Discussion in 'General Advice' started by YAGOOFT, Sep 3, 2014.

  1. YAGOOFT

    YAGOOFT Active Member

    Curious,

    As one who researches and evaluates every home based internet business opportunity out there, it appears that the Pay It Forward strategy is growing.

    Simply put, if someone paid your way into a business opportunity, and it was a sound program with real value oriented products or services, would you join?

    I have seen success with this concept in a few of my tradional businesses, as well as with my online internet based businesses. Pay It Forward is a great way to attract attention and get new distributors to at least evaluate your products or services. As long as it is free, and the commissions earned are yours regardless if you stay with business, no risk, no rewards, but here, there is no risk and rewards, pretty unique trend I see growing in this down ecomomy.

    Anyone else experience success when your sponsor paid your way into business?

    Success to all,
     
    payment proof likes this.
  2. A8ch

    A8ch Gold Member

    It would depend on my level of interest and excitement about the opportunity and everything else that comes with it.

    Let's face it, success has less to do with the opportunity itself and more to do with taking action. So the lazy, disinterested person who gets a free buy-in isn't going to magically become enthusiastic just because someone did them a good deed.

    Don't get me wrong, I'm not knocking the Pay it Forward concept. I think it's a very generous and selfless idea. But in the case of paying someone's way into a business opportunity, I would simply apply the elements of targeted marketing and choose that person very wisely.

    Hermas
     
    payment proof likes this.
  3. YAGOOFT

    YAGOOFT Active Member

    Thanks,

    I agree, it is always up to the individual, but with so many offers, it is a risk for most, especially those who are taking the plunge for the first time into their own business. You have to have someone interested in your product or service, no doubt, otherwise you are just wasting money. I have several people I could only convince by paying for their first product or service so they could validate the value for themselves, and in a couple cases, they went on to build successful businesses, and in return, I earned a hundred times what I first invested in them. It all came down to offering a free entry, and then when the discovered a small income started, they took off like a rocket ship. lol

    I am testing such a system now which is totally automated after which a new prospects entry costs are covered so the number one obstacle is removed for most, fear of loss or worse, self doubt. Most people cannot succeed without a push or incentive is what I have learned over the years, so am always open to trying new approaches to marketing, and Pay It Forward can be very effective when it comes with an automated system for success, especially since most people do not like to sell products they themselves are not using.

    Time will tell, but I have a dozen people I have invested in, so I am looking forward to see how it works out for them to see if it is worth the investment or not. Since the concept is a cooperative strategy, more than one company with more than a few different products and services are offered, so this should open the door to success a little wider than a one product offer would. You have to be willing to try new strategies in a collapsing economy is a lesson learned in last recession. What use to work does not mean it works any longer when it comes to traditional marketing and with so much competition on the internet, it doesn't get any easier, especially for newbies to the online arena.

    Success to all,
     
    Rosev and mbasa like this.
  4. mbasa

    mbasa Member

    PIF strategies tend to collapse because people come with a lazy mentality, considering that someone else has paid for them. With the right mindset it can build your business faster than most MLM business building strategies.
     
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  5. YAGOOFT

    YAGOOFT Active Member

    True, but like with everything, there is a right and wrong time based on the person, if you simply pay it forward to just anyone, not knowing them, then it is a waste as most are lazy. I have always believed what is free is worthless, but there are exceptions as with everything. Free trials are one thing, free for nothing in return is another, you have to qualify your prospect is going to value the product you are giving them.

    In traditonal sales, where most people hate to be hard sold, and hate to sell, this strategy works very well by offering them a free trial. If you look at the current TV promotions for supplements as example, tons of companies are using the pay it forward free offer, just pay shipping and handling type of offers, but then have an autoship tied to it if you don't cancel before a certain timeline. These types of pay it forward, or try it before you buy it offers are very effective sales strategies as most are now emulating it on TV. You can hardly find one ad that doesn't offer the freebie up front offer.

    It all comes down to your product or service, if it does not work as promoted, or in regards to health supplements, you don't feel the effect, then you will not re-order, so you have to have a product that works, and everyone can feel it works, then the pay it forward or free trial is very powerful and effective marketing strategy. I have used it over the years with several very good products which I know will impact a persons health immediately, and they can feel the difference immediately, then you have a winner. If a product does not work as promoted, and people cannot feel a difference, then forget about it, handing out freebies will not earn you an income or return on investment.

    We all know the high cost of marketing in the traditional sense, and this holds true for online marketing as well, it is not cheap, and most is not effective unless you spend a ton of money marketing. As example, I use this pay it forward strategy with a new air purification technology which is so effective it sells itself once a person experienced the health benefits of breathing fresh energized purified air. When they feel the difference immediately, especially when they have allergies or asthma, it is a sure sale. Those with pet odors are another example, the removal of pet smells immediately makes the sale, so pay it forward can be very effective sales tool when you have the right product and serious prospect looking for a solution to their problem, and you solve it, now that is a winner combination.

    Success to all,
     
    Rosev and payment proof like this.
  6. payment proof

    payment proof Well-Known Member

    I think this is key. If the product or service is not a quality product or service, it will impact any potential success in a negative way.
     

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