Network Marketing Companies
What Is Network Marketing?
There are many myths and misunderstandings about network marketing (also referred to as multi-level marketing.) Many people view network marketing as an industry were stay at home moms sell useless products to make money. This assumption and most others are false, network marketing is just like any other business and makes a great part-time job that works as a home business.
Perhaps people have a negative attitude towards MLM marketing because it is different from any other business. Network marketing is done through recruitment. How it works is you are asked to become a distributor or consultant by another distributor who distributes the company’s products. Once you have accepted the invitation to join the company, there are two ways to make money. The first is, of course, sell the product that the MLM company is selling and the second is to recruit other distributors like yourself. Whoever you recruit, you make money off the income they produce.
When it comes to the recruiting process, there are two important terms; upline and downline. The upline is whoever recruited you and whoever is above that person in the recruitment chain. The downline is whoever you sign up. In this business, you work as a team. You are not recruited and then left to the wolves. Whoever signs you up will provide you with training along with any further assistance you may need. Network marketing is very similar to franchises’ because it becomes your own business as you sell the products and recruit new team members. At the end of the day, MLM is your own business and an excellent way to make money if you can avoid the schemes. There are a few ways to do so.
Why Multilevel Marketing?
So, if there is so much negativity built up about Network Marketing, why is it so popular? MLM marketing operates on a “sky’s the limit” kind of motivation. There is no maximum as to how much money you can make. If you are dedicated and work hard, you can make a ton of money. You can also make money by doing nothing because of the downline…you will be making money off the people you recruit.
As mentioned, network marketing is like owning a franchise because it’s your own business, but the biggest difference is it’s generally very inexpensive to become a distributor. You can have your own business without paying a lot of money for start-up fees. Most network marketing programs also offer inventive. So if you are doing consistent, good work, you can earn vacations, cars or more money.
How to Improve Your Network Marketing?
Do Your Research Just like any other job, you have to do your research to determine whether the opportunity is a good fit for you and if you are a good match for the company. Less than one out of 100 network marketing representatives achieve financial success. While this statistic may steer people away, it usually has nothing to do with the company, it comes down to the representative. What you put in Is what you get out. You also won’t be successful if you try and sell something you don’t like. Finding a product you love should always be considered before working with a company. If you have a product you love and enjoy using yourself, it will be easier to sell and be easy to get excited and talk about. Another big part of your research should be how the company compensates. If you don’t agree with the compensation terms you probably won’t be happy in the position. Every company is different so you should always consider all options.
Maintain an Ethical Selling Method
If a friend recommended a restaurant to you that you found to be horrible, you probably wouldn’t ask for your friends’ recommendation again. The same goes for the products you sell. If you sell a product to someone and use hype and deception just to make the sale, chances are the product really isn’t that good and the person buying from you won’t trust you enough to buy from you again. If you come off naturally enthusiastic, people can hear the difference in your voice. Good MLM companies prefer you to be honest when it comes to selling customers. You can be excited about the product, just never over the top and making false claims about the product.
Don’t Bombard Family and Friends
The most common mistake salespeople make, especially MLM representatives, is they try to sell to friends and family. Of course, going to friends and family is normal because you expect they would like to help you out. However, this usually isn’t the case and should be avoided. There is nothing wrong with telling your family and friends about what you are doing and if they have an interest in buying your product- then great! If not, don’t push them and always except “no” for an answer. Wondering how to avoid this? Identify your target market and develop a strategy to reach them. Are you selling women’s beauty products? You will want to target women who clearly enjoy the beauty, fashion and care about their image. Some of the best MLM companies recommend making a list of 100 people you want to sell your product to. You might be shocked to know that some of the most successful MLM representatives found that their business did not come from that list of 100 people.
Never Skip A day
No matter what day it is, you should always make it a goal to share your business plan or product every day. You will not be able to make a sale if people don’t know about it. Plus, you never know who you might meet and if they are interested in your product or service. Some ways to help get the word out is to hand out product samples, host a product party or share on your social media account. Always remember, people, do not like to be bombarded with your products.