MyVideoTalk Review – MLM Tech Disaster Or The Next Big Thing?
So what’s the deal with “MyVideoTalk”? I mean we all know that online video is a hot growth area on the internet right?
If you doubt that video as a medium for personal expression is here to stay just take a moment and do a quick review of the growth and reach of YouTube by doing a quick Google search for “YouTube growth stats”.
You will find that the sheer number of people doing videos and exposing their content, (and sometimes various body parts we would rather not see), to the world is mind boggling.
Well I guess some people have no shame, and of course some people have no shame and also no talent.
So yes of course video is a big deal on the internet, but that is not the issue here.
The issue and the reason I sat down to do a network marketing company review is to take a look at whether or not online video and video delivery systems are a viable product for an MLM company, and if you should even waste your time trying to build a network marketing empire by jumping on board the latest and greatest MLM company to jump on the bandwagon with a “killer no miss” (of course everyone thinks their product fits in this category) video product.
Enter “MyVideoTalk” one of the latest to jump on the MLM Video bandwagon.
The company is based in Northern California. It was founded in April 2004 to provide cutting-edge internet communication technologies. Currently, it is available globally with its presence felt in several countries.
They offer five products designed to target and cater to your every online video need. These products include customized e-mail video messages, on-demand video web channels, and live video streaming of broadcasts and meetings.
The also boast of products that are state-of-the-art and seem to be user friendly. Its website leaves you with the impression that its products are so simple that even Internet dummies can use them.
However it also has products geared for complex businesses that need extensive marketing and communication support. This makes their products useful to individuals, small businesses, and enterprise markets. So they have tried to make their product appealing to both professional and amateur entrepreneurs.
So with all of these great looking product features, it’s easy to see how it gives the impression that it should be very marketable.
So now they throw in the multi-level marketing platform and it seems with the current popularity of video that this company should be a no-brainer, a please drive me to the bank to cash my check type of success model.
But is it?
Humm… yes that’s the million dollar question.
Unlike many other multi-level marketing systems that only generate income from fees paid by the sale of physical products or lotions and potions, these products provide an intangible service related product to a marketplace that appears at least to hunger for such things. But the question remains.
How can you achieve financial success with this company, and is it sustainable?
We need to understand a few things before we can discuss the success potential of a product or a system. First understand that no matter how sexy a Network Marketing product may be or how marketable it may seem, that is not where you make the money in the world of MLM.
You can have the newest MLM on the street with hottest product in the world, but if you spend your time out trying to sell the product you are not going to make those $10,000 a month checks you have been hoping for.
Network marketing is not a retail based business model, and if you try to treat it as such and achieve success by selling the product you will probably win retail excellence awards from the company but you will never make the big money, because there is no leverage in retail MLM sales.
Listen closely now… it’s not about selling the product!
MLM as a business model is much more closely aligned to the wholesale buyer’s network business model, like a Costco.
Nobody joins Costco to buy products at wholesale and sell them in their store at retail, we all join and pay the membership fee just so we can get them cheaper. It is in fact, a wholesale buyers network that exists on self consumption.
Network marketing is exactly the same ballgame.
OK Marc, so then what’s the point of a hot product?
Well to attract other distributors of course! The hotter the market segment and the sexier the product the more distributors you will be able to get to jump on the bandwagon.
So with a broad product mix that the average persons sees the value in, the more people who will enroll knowing that the products should be a cake walk to sell but then in fact they never do sell any, they just use them themselves.
So the true keys to MLM success are…
Have a sexy product that everyone sees the value in, and
They better be exciting enough that your distributors keep using them and stay on autoship or your income will become a revolving door.
MLM givith and MLM taketh away!
MyVideoTalk offers powerful tools that can be used by businesses, so this is a big plus over products that just target the consumer sector. They include a video email system, a Webinar program, a video channel offering, the Webshow tool, and the Boardroom conferencing platform. These communications tools enable anyone to create web shows, presentations, and their very own Internet programming network, while also using e-mail that contains video.
Anyone familiar with the current slate of available technology solutions would know how exciting looking this bundle of tools can be. Together, they offer marketers and businesses the necessary tools to communicate their online marketing messages to a wide range of people in the most powerful manner possible, i.e. video.
This is cutting-edge technology that of course every business should be using, and distributors of course can use the same tools to build and maintain communication with their downline.
The Compensation Plan
They offer a compensation plan based on a Hybrid-Binary type compensation plan. Distributors can expect to earn money from the sale of these technology products and apart from retail product sales, distributors can also derive income from fast-start bonuses for bringing in new customers, team commissions and various team-building and executive bonuses. Together, these income opportunities can enable anyone who is committed to the system to establish a profitable income stream.
They also offers other compensation bonuses. Distributors get the opportunity to earn a BMW or Mercedes Benz vehicle. In addition, distributors can qualify for a variety of other rewards. They can be rewarded with paid vacations to exotic locales and funding to open an office space
Here is a quick overview of the compensation plan income streams:
Fast Start Bonuses
A distributor can earn U.S. $100.00 Fast Start Bonus on the sales volume generated by the personal sales of the Getting Started Product Packages. There is no limit on the amount of Fast Start Bonuses you can earn, the more you sponsor, the more you make.
Weekly Team Commissions
Once a distributor becomes a Team Builder, he becomes eligible to earn weekly team commissions. A Team Builder needs to build two sales teams and each time one team generates 720 weekly sales volume and the other 360 weekly sales volume, the Team Builder earns a commission cycle. He earns U.S. $100.00 in team commissions with an additional of up to U.S. $50.00 global rewards check match bonus.
Monthly Binary Matrix
This enables distributors to earn monthly residual income simultaneous to building weekly bonus checks. Distributors get paid repeatedly for something they’ve already done. A distributor can achieve a cycle bonus of U.S. $25.00 per cycle with a 3:6 cycle ratio for his Binary Monthly Matrix.
MVT Bimmer / Benz Club
This is a Car Club Bonus Program available to those with rank of executive or above who meet the company’s requirements for availing of this program.
Presidents Weekly Club
This is a special leadership recognition program which gives qualified distributors a new rank or title which comes with a corresponding bonus.
Distributors can earn a 20% commission on the first month sale of every a la carte retail product package sold in his retail shopping portal.
Team Builder Bonuses
This U.S. $25.00 bonus is paid on the sales volume generated by selling the Super Stream Studio Package.
Executive Leadership Matrix Bonus
This U.S. $200.00 executive bonus is based on the sales of the Super Stream Studio Package. This is paid as soon as an executive helps two personally sponsored representatives of his left and right sales teams achieve Team Builder status.
Global Rewards Check Match Bonuses
This is available to distributors who achieve commission cycle. They will receive a reward check match bonus of up to 50% in addition to the cycle payout.
Sales Office Program
The company helps distributors set up their area team office by providing them with administrative and financial support, means to increase sales, trainings, and weekly presentations.
So what’s the bottom line here Marc? Thumbs up or thumbs down?
Well there are a number of ways to look at this, one is as an affiliate tool for a marketer, and the other is as a standard MLM business opportunity.
As an affiliate marketing product I think this has good potential. Video as we know is a powerful marketing tool and is here to stay for the foreseeable future and there are lots of people who market on the internet and who could use this to improve their marketing and more importantly sell to other aspiring marketers as a straight up affiliate product. A $100 commission on a $300 or $429 startup video package is not bad as far as affiliate commissions go. I mean if you can use the products anyway you might as well make some money off of marketing it to your list right?
As a standard MLM offering, remember that potential distributors are usually attracted to unique products and of course people love technology products, and so the initial growth pattern of these companies tend to be quite good.
The challenge for companies like MyVideoTalk of course is to keep the new product introductions and the even newer technology so fresh that you are always in the excitement phase.