Just do once what others claim you can’t do! You will not even have to take into account what they say again
Network marketing is basically a medium of marketing that manufacturers use to expand their sales also known as MULTI-LEVEL-MARKETING. It usually depends on person-to-person sales by independent representatives, often working from home. A network marketing business may require you to build a network of distributors and dealers to assist with lead generation and closing sales. These distributors and dealers, therefore, act as independent representatives of the company. As a result, this way the company can market their goods widely without spending more money on traditional methods of marketing, like advertising.
Network marketing appeals to people with high energy and strong sales skills, who can build a profitable business with a modest investment.
What is difference B/W NETWORK MARKETING & PYRAMID scheme?
NETWORK MARKETING is often mistaken as PYRAMID scheme but these two are very different Let’s compare these two :
How does NETWORK MARKETING works?
Membership
Every network marketing company works by enrolling people interested in making more money as members of its MLM community.
Sampling
Once a person has been accepted as the member, they are entitled to receive a small number of free samples, Some companies may charge a refundable security deposit this deposit is refundable when an associate opts out of the scheme.
Participation in events
All network marketing companies have large advertising and publicity budgets to support their MLM associates. At these events, seniors from the company and existing MLM associates will discuss products and show ways and means to earn money through the home-based business.
Marketing & sales
This is the most important feature of a network marketing company and depends upon the MLM associates. Generally, network marketers will popularize the company’s products within their social circle and family. Once a sale has been made, network marketers send details of the customer to the company for follow-up and feedback. This is part of customer engagement and efforts to develop brand loyalty
Product Range
Network marketing companies operate by manufacturing and selling products that are rare and not available from stores. These include various types of nutritional supplements made of herbs, roots, fruits, and plants, among others. Generally, every network marketing company will package its products very attractively. Exclusive packaging is meant to attract customers and lend uniqueness to the product.
How to succeed in Network marketing?
Finding the Right Company:
Investigate companies
How old is the company? Is it well-established or is it just starting out?
How are the company's sales? Are they rising or falling?
What is the general reputation of the company? Reviews and blogs can usually give you a good idea if the company is reputable or suspicious.
Look up CEOs and other company leaders.
Investigate the products or services the company sells
Is this product safe?
Are the product's claims backed up by legitimate research?
Would I use this product?Is this product priced fairly?
Question your recruiter.
Read your contract carefully
Watch for red flags
If a company makes more money selling products to distributors than to the public.
If a company makes more money recruiting members than by selling products.
If anything seems wrong to you, don't sign a contract.
Draw up a business plan.
What product or service are you intending to sell?
Who is your intended market?
How much time will you dedicate to this? Will it be a part-time commitment or are you planning on working 7 days a week?
What is your goal? Do you want to get rich or just make some extra money?
Think long-term. Where will you be in 5 years? 10 years?
What is your marketing strategy? Will you make cold calls? Use the internet or social media? Go door to door?
You can update or change the plan as needed, but it helps to have a guide when you're just starting out.
Starting at a Company
Choose the right mentor.
Someone who is available if you need help.
Someone who you could see yourself working with.
Someone who will be honest with you if there's something you can do better.
Study your products and know them well
Attend company meetings and training calls
Build new leads
Social media is a cheap, easy way to generate buzz for your product. Start a page for your company on each of the major social media sites and update them all regularly.
Buy advertising space online and offline. Websites and newspapers can help build awareness for your product.
Cold calling, though old fashioned, is still a popular method of finding potential leads.
Personal interaction is also useful. Always have business cards on you and be ready to talk about your company. You never know when you may come across someone who is interested in what you have to offer.
Follow up with all leads
Set up your web page with an auto responder designed to contact people who visit your page.
Manage all your contacts in an organized file with all their information easily accessible.
Have a sales pitch ready at all times when you contact a lead.
Try more than once to turn a lead into a customer. Just because someone wasn't interested once doesn't mean they will never be interested. Be careful not to overdo it, though—you could easily get a reputation as a spammer, which can hurt your business.
Building Your Network Marketing Business
Recruit new members
Mentor your recruits effectively
Give your team members good commissions
Consult professionals about your business
ADVANTAGES & DISADVANTAGES of NETWORK MARKETING.
PLEASE LEAVE YOUR VALUEABLE COMMENT OR ANY SUGGESTION TO IMPROVE MY CONTENT :
Comments