Why would  internet marketers ever consider learning how to market like Walmart?

Walmart brought in $476 billion for revenue in the year that ended Jan. 31, 2014, topping Exxon Mobil in the Fortune 500 for a second year. That’s more than the combined annual revenues of Apple, Target, Amazon, Coca-Cola, Macy’s, and Walt Disney Co.  (read more astonishing figures here.)

Why is it you always end up at Walmart?

I admit it, there have been times I’ve sworn to never shop there again.  It’s crowded, the checkout lines are long …

We were driving in pouring down rain through northern Arkansas late one night when our windshield wipers flew off, one by one.

Now, in northern Arkansas, the roads are winding and curvy, and the little towns you pass are desolate and sparsely populated.  There are hardly any businesses along those roads.

But, we found one – and pulled into a little gas station, hoping that they would just somehow magically have the exact wipers we needed for our truck. Of course, they didn’t – it was a small convenience store/gas station in this little town. So, when I asked if she knew any place we could find some wipers, she said,

“There’s a Walmart about five miles down the road!”

So, I ate crow and instead of saying, “I’ll never shop at Walmart again,”  I was shouting “THANK GOD FOR WALMART!”

What is it about Walmart that has people flocking to its door?

More importantly, what can we learn as internet marketers from Walmart’s example?

WHY WALMART?

1.  Variety and supply fills their shelves.  

You know that you will be able to find pretty much everything you need at Walmart.  You’ll have plenty of choices to choose from.

Walmart also provides a wide range of price points for its shoppers – from the cheapest to the more expensive name brands.

2.  One stop shopping.

Instead of going to one store for groceries, another store for prescriptions, another store for tires, and yet another store for clothes … you can get all your shopping done in one place.

3.  24/7 Availability

Nearly all Walmart stores are open 24/7.  You can count on Walmart being open when other stores have locked their door and turned out the lights for the evening.

Now, let’s take Walmart’s model and apply it to internet marketing.

The downfall of most online marketers is this.  They join one company and focus only on selling that one opportunity to their prospects.

They become a specialty shop of sorts that has one unique product to offer.

Imagine owning a grocery store that only sold tomatoes.  You’d have plenty of customers who absolutely love tomatoes, but you’d be missing out on many more customers who desire other vegetables and fruits.

 

The problem is ONE SIZE DOES NOT FIT ALL customers and by limiting what’s on your shelves, you are limiting your income.

Walmart knows this. That’s why they have expanded their shelves to include nearly everything a customer could possible need.

For instance, you may talk to a prospect who is already building an online business with another company.  They aren’t shopping for a new company to join, but they do need help with list building, or copywriting, or capture pages, or social media marketing.

If all you have to offer them is another MLM opportunity, you’ve lost a customer.

However, if your shelves were stocked with products and tools that could help this prospect, you’ve got a sale.

You absolutely can be the one-stop shop for newbies getting started and looking for the right opportunity.  But, you can also be like Walmart for even more customers who need help in their business.

In addition, your “store” can also be open 24/7 because of technology.  Your blog is a great place to provide your shelves stocked with products.  YouTube videos are another way to keep your store open 24/7.  The internet never sleeps.

WHAT’S ON YOUR SHELVES?

Do you have affiliate products available to provide training and solutions to some of the most common needs of internet marketers?

Do you have a variety of affiliate products at different price points?
From affordable $25 to serious investments of several hundred dollars?

Selling only $150 opportunities prevents someone who might be broke, but seriously committed to changing their financial situation from getting started.

But selling $25 products puts customers in your funnel and allows you the wonderful opportunity to continue to develop  your relationship with them and guide them to upsells.

One more thing to realize as you begin to understand the importance of stocking your shelves, expanding your reach is this.

If you focus totally on one company, with no additional streams of income … what happens if that company (God forbid) goes out of business or hits a major bump and temporarily shuts down to revamp and rebuild its infrastructure?

What happens is that you are left with no stream of income.

You may not like Walmart, but as an internet marketer, you  cannot ignore how to market like Walmart.

For more understanding of this principle, read “Magnetic Sponsoring” by Mike Dillard.

By now, you should have a better understanding of why it’s imperative that you learn how to market like Walmart.

If this helped expand your understanding, leave a comment below.

Can you add other reasons that I have missed about marketing like Walmart?

Trisha Barnes
p:  573-881-6715
f:   Find me on Facebook!

P.S.  Here’s a great example of how I’ve stocked my shelves:
Get with me for help … let’s get your shelves stocked, too.Call, message me on Facebook – or leave a message in the pop up box.