Network Marketing is a business model where affiliates of a company promote or advertise the companies products in exchange for commission, or a percentage of the sale price.
Network marketing has a secondary and more powerful commission structure through the referral of other network marketers. Building a sales team if done right can make one quite wealthy, done wrong and your business will have you tapping out for lack of movement.
The following tips will help you make network marketing a winning prospect.
Know your product: too many people in network marketing are focused 100% on the pay plan and zero percent on the sales aspect. Simply put they sell nothing but the idea of making money online which is semi lucrative in MLM or Multi Level Marketing where there is a forced auto-ship of product you have to buy to play but not in network marketing where you only get paid if sales are made. As a result many can tell you little if anything about what a company sells.
Don’t trust your downline to do all the selling, lead by example. This relates to number 1 in so many ways. If you have a system in place to sell products and have great ethics and personal style, your downline can easily replicate your methods and become successful too. Duplication is a vital part of the story, your downline will be just like you so if you online promote building your downline so will they and little if any sales will be made.
Get a blog or website of your own. Don’t be scared there is a Youtube Video for anyone of any skill level that walks you through buying a domain name, securing hosting, and creating a WordPress blog. I use blogs for 99% of my marketing because they are built for rapid indexing in search results and generating free traffic. With RSS and Subscribe by E-mail options you can even use a blog effectively without the added cost of an auto responder.
Blog about anything but your business directly. Don’t sell, generate valuable content and let advertisements in your sidebar and header handle the sales pitch. If your blog post read like advertisements YOU WILL FAIL AT NETWORK MARKETING!
Be passionate about your business. Finding a product you personally love in a niche market you are knowledgeable about is vital to your long term success and your personal happiness. If you love baseball write about that and look for companies that sell things like memorabilia and glove oil. Like to garden? Did you know that popular seed and supply companies often have a multi level affiliate program, MLM, or at least pay commissions for referred sale? You can make money doing anything you love. My niche is marketing but yours could be astronomy, astrology, or even duck calls and storage wars. Find your passion first and monetize that.
Be supportive. You are not there to hold your downline’s hand every step but you do need to hold their interest. If you feel alone in your chosen business because a sponsor is simply not mentoring you I can guarantee you have thought about giving up or finding something else. You need to be there to help and support the people you refer into the business and share your system so they can duplicate it.
Learn every day. Learn something new about your niche, your product, your company, your customers, your self, or marketing in general every single day.
Teach something you learned every day, make it a blog post or e-mail to your team. Teach something new about your niche, your product, your company, your customers, your self, or marketing in general every single day.
Businesses require time and effort. You are in a WORK at home business, not a pastime, hobby, game, miracle, etc.. Get Rich Quick is a lie, Instant Success is a lie. You will have to work and need to devote as many hours as possible to your business or it will never be more than a part time job.
- Be patient. I can not stress this enough. If you picture quitting your job in 30 days or less you will most likely fail. The few that are able to do this didn’t start with that in mind, they worked, learned, taught, blogged, marketed, and grabbed every opportunity to take a small step up at a time.
Bonus Network Marketing Tip:
While not everyone can afford to invest cash in their business at some point you will need to spend money to make money. Even if you focus on selling that first product until you get paid and then roll that income over into your business you will need to keep cash flow in to keep seeing bigger paydays. If you can do what we can at SFI and Join a Advertising Co-Op, buy business cards and flyers etc.. you can make things like your standing order pay you for the investment you make in yourself. If you can buy something through your company that you would normally buy elsewhere then do it. Your downline will do the same if they see you lead by example and you coach them in the right direction.
Andy Zeus Anderson
Online marketing professional.
Join my SFI Team to access weekly lessons and Google Plus Hangouts.