Yep, after December 1, no more big income (or big any result) testimonials. Not unless you also tell what the typical results for the typical person doing the deal are. It’s not enough anymore to say “results not typical.” (See FTC release here.) The relevant language:
“Under the revised Guides, advertisements that feature a consumer and convey his or her experience with a product or service as typical when that is not the case will be required to clearly disclose the results that consumers can generally expect.” More here. (ital added – kk)
No one who sells via big stories wants to tell you what consumers can generally expect. It’ll ruin everything.
If anyone ever found out that almost no one makes much money (who’s putting forth effort) in money making ventures, be it MLM or Internet marketing, who would buy? The big boys know this.
Several of the biggest Internet marketing ‘make money’ gurus have already announced their exits from the make-money business, moved it outside the US, or announced they’ll no longer use income testimonials. See here.
I think the MLM/Network Marketing business has a much brighter future than some of the other options. Because – we don’t need to sell based on giant (and atypical) income. Instead of marketing money, I suggest we market meaning.
Consider the advantages when you stop selling the money:
1. Peeps who quit ALL thought big income was going to come much faster and more easily than it does. The new FTC regs forbid those big income testimonials (unless you also tell, at the same time, the typical results peeps get). So retention should improve greatly. You didn’t lure them with easy, big money. Right?
2. No big income stories means you won’t miss anyone except the get-rich quickers. Because. While money IS one reason people start a business of their own, it is almost NEVER NEVER NEVER the main attraction. See here for the top three reasons Americans want a business of their own. Note: Money wasn’t the reason the Google boys started their business, either (see here)
3. Last, money is not the reason thousands of folks stay in MLM, I mean the masses without much income. Here’s why they say they DO stay in.
We can do the business for much MORE than the money. How about for the meaning it gives your life and that of others? I believe this is the only way the industry can remain a viable business option long term – to people who are long term doers, not screamers and hype-filled chatter boxes. Aren’t you sick of them ‘friending’ you on MySpace, Facebook, Twitter and littering your email box? Yuck. Get-rich-quickers.
“It’s not the strongest who survive, nor the most intelligent, but the ones most adaptable to change.” Charles Darwin.
Here’s a little video I just made, to keep things on the light side. Work in progress. 3 minutes.
If you’d like to learn how to recruit with meaning, and create meaning testimonials, contact me here and perhaps I can arrange a class for your group or your company.
Dec. 1, new FTC rules take effect. Isn’t it time for you and your babies to adapt your recruiting to the new FTC rules? You can. I’ll help you. Do you believe meaning trumps money?