How to be Successful in Network Marketing
It is literally marketing products through a network of people. This form of distribution is word of mouth or recommendation.
It's an intellectual form of distribution as unlike retailing the distributors are often very knowledgeable on the products
Large businesses can be built by sponsoring people and teaching them to sponsor. MLM means multi level marketing and refers to the different levels of compensation provided by the company.
By the 1990's more than 100 billion dollars worth of products were being distributed through Multi level marketing, and that figure is growing rapidly.
The success of an MLM business is based upon the distribution of products. This can be through purchases for yourself, retailing to customers,and sponsoring others to purchase wholesale.
why network marketing is becoming so popular
Nowdays people feel more insecure in their jobs and worry about being made redundant. With inflation and the rising cost of living, pensions don't go very far.
Network marketing provides an opportunity to create a residual income for life. It can be fitted in around a full time job, and requires no qualifications. There's no discrimination against age or sex, and there is the potential for financial freedom.
Usually there is a minimal start up fee, and with no need to stock up on goods this makes it a no risk investment. The only real investment is your time and perseverance to make it work.
MLM has enormous potential especially now as with the internet you are no longer geographically limited. More and more people are choosing to purchase online.
Products are usually of a high quality as money isn't spent on advertising or packaging. Instead money is put into the products themselves.
Take a look at the compensation plan. Does it pay well?
Is it a well established company and not in any debt?
Try and attend a business presentation meeting or product training session as soon as you join. Many companies have regular meetings that enable you to get a feel of the company and meet other distributors.
Before you start any business you must have a plan. Sit down and work out a plan of action on paper. Get your sponsor to help you do this.
Set yourself long term goals. How do you see yourself in 5 years time? Where would you like to live? What car would you like to drive?
Break up these goals up into short term achievable ones. Organise your tasks for each day and stick to them. This way you won't get despondant and you can see a progress in your business, no matter how small.
Do something each day to help build your business such as making a point of contacting 2 people a day. If you did you would be speaking to 14 a week, that would be 56 a month, or 672 a year. That's a lot of people!!
Network marketing really is a numbers game, the more people you talk to the more chance you have of finding prospects and ultimately big business builders. If you don't do anything then you won't get anything and your business won't grow.
Hand out business cards to people you meet.
Put flyers up on supermarket customer notice boards and leave some in restaurants and cafe's. Flyers are very inexpensive to print out on a pc. I often print a couple of sheets out and then photocopy them, this saves on paper and is very cheap.
Listen to motivational tapes and read books. I recommend these 2 books "Think and Grow Rich" by Napoleon Hill, and "The 45 Second Presentation that will change your life" by Don Failla
Purchase some of your company's products and try them out. It's better to know first hand about the products before referring them to others.
Make use of your company's marketing tools. Audio tapes, marketing leaflets e.t.c, and hand them out to people who may be interested.
Don't try to sell the company or the products. The audio tapes and leaflets generate an interest.
Don't try and get people to build a business if all they are interested in is buying the products wholesale.
Sometimes you may find that people are just happy to purchase from you and these become your retail customers.
Perseverance is needed as well as belief in yourself and the products. It's very easy to quit at something just before it starts to work. Don't ever give up!!
Article by Kathy Joyce
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