My Market Wisely Review: Christian social network?
Billing themselves as ‘a Fellowship of Christian Businessmen’ who are ‘determined to live a Godly life’, My Market Wisely claim that their “mission” is
To facilitate the gathering of the true body of Christ. Provide a gathering place for the true body of Christ. Help every member achieve balance in faith, family, fellowship, finances and fun!
On their website, My Market Wisely claim to have been online since 1999, with My Market Wisely being
owned by Market Wisely Inc. A Nevada Corporation formed in 2010 for the sole purpose of generating profits for Ministry projects.
No corporate or management structure is provided on the website however a “Kevin Wise” is provided as a contact for the company, who appears to operate out of the US state of Montana.
The Market Wisely Inc. Nevada corporation seems to check out,
with a “Launa Sprout” listed as company President.
Curiously, several domain registration records for Market Wisely’s website show Laura Sprout using what appears to be Kevin Wise’s Market Wisely email address.
Other than Sprout being the President of Market Wisely Inc. and Kevin Wise listed as the contact of My Market Wisely on their website, the specific roles of both within My Market Wisely is not provided.
MLM history wise Kevin Wise has a YouTube account,
which reveals participation (and ownership via Market Wisely) in a number of MLM companies.
- Automatic Geek (2010) doesn’t seem exist anymore but was launched by Market Wisely as a PC Tech Support business opportunity, paying affiliates “50% everytime Automatic Geek solved a problem”
- Hegemon Group International (HGI), who on their website describe themselves as ‘generously reward(ing) associates for building distribution, and then moving products through the distribution outlets‘
- YourSmartMarketer (2012) is a $199 one-time fee and $29.95 a month recruitment driven matrix scheme, powered by a 3×12 matrix
Wise started uploading My Market Wisely videos to YouTube around September 2012, indicating that this is when the company launched.
I wasn’t able to find any further information on Launa Sprout in connection with the MLM industry.
Read on for a full review of the My Market Wisely MLM business opportunity.
The My Market Wisely Product Line
My Market Wisely has no retailable products or services of its own. Affiliates join the company’s social networking site for free, with My Market Wisely then offering affiliates various third-party products and services.
In their marketing material, My Market Wisely cit a $20 ebook as one such product example.
The My Market Wisely Compensation Plan
My Market Wisely offers affiliates commissions on the sale of various third-party products and services marketed to affiliates.
My Market Wisely claim to offer affiliates a share of ‘72% of the net profit‘ generated by product sales within the company.
Upon joining the company, each affiliate is placed in a 3×12 matrix. A 3×12 matrix starts off with the affiliate at the top, with 3 positions directly under them (level 1).
In turn, each of these 3 positions branches out into another 3 positions (level 2) and then again to make up level 3. This structure continues down 12 levels, for a total of 797,150 positions.
These matrix positions are filled either via direct recruitment or the recruiting efforts of an affiliate’s up and downlines. The idea being that 72% of the revenue generated by affiliates purchasing products offered to them is then shared amongst qualified members.
In order to qualify for commissions, My Market Wisely affiliates can either
- recruit 3 new affiliates into the company
- complete their personal profile
- generate 100 “activity points” by participating in the My Market Wisely social network (posting videos, commenting, blog posting etc.)
Note that the revenue share is not company-wide, it’s 72% of the revenue generated by each affiliate’s matrix. If nobody in an affiliate’s matrix purchases anything, that affiliate makes no money – regardless of whether other affiliates in the company outside of their matrix make purchases.
Joining My Market Wisely
Affiliate membership to My Market Wisely is free.
On the surface My Market Wisely makes sense, in that affiliates are only paid a commission on the purchase of products.
Unfortunately however affiliate purchases do not count for retail and with no differentiation between affiliates and regular members (qualification is for commissions, not being an affiliate), that means My Market Wisely are looking at a 100% internal consumption rate.
Given this, pyramid scheme territory is also waded into when you consider that a downline is mandatory in order to earn anything (whether an affiliate recruits the downline themselves or their upline does is irrelevant).
I couldn’t see anything unique featurewise in My Market Wisely’s social network marketing material, so outside of the income opportunity I’m at a loss as to why anyone would join the network.
Meanwhile I’m not too sure what’s with the whole Christian marketing angle:
Our team welcomes you to the worlds 1st & only Christian social matrix…
Seems to me that at best your severely limiting your affiliate-base, and at worse will actually turn people off the opportunity (even religiously orientated people) due to the exclusivity any religious association in business inescapably evokes.
When you consider the thus far unsuccessful track record the combining of social networks and an MLM compensation plan already has, this doesn’t seem like the smartest of ideas.