You do not need much to start building your empire gradually hence a great medium to use. Never forget that network marketing is not only selling products and services, it also involves prospecting, recruiting, training, follow-ups, accounting and so much more. You can make it a full-time job if you develop the mindset required and invest your time and energy in it.
While it is possible to see results from your marketing efforts quickly, the reality is that marketing, especially the type that generates long-term results and referrals, takes time. You're competing in an increasingly crowded and loud marketplace. The better you can connect with your ideal market and develop a relationship with it, the better your results will be. If you provide a great product or service and are attentive to your customers, your customers will provide you with positive reviews, referrals, and testimonials that will help you stand out in the crowd.
Paid channel marketing is something you’ve probably come across in some form or another. Other names for this topic include Search Engine Marketing (SEM), online advertising, or pay-per-click (PPC) marketing. Very often, marketers use these terms interchangeably to describe the same concept — traffic purchased through online ads. Marketers frequently shy away from this technique because it costs money. This perspective will put you at a significant disadvantage. It’s not uncommon for companies to run PPC campaigns with uncapped budgets. Why? Because you should be generating an ROI anyway. This chapter walks through the basics of how.
It’s true, there has never been a better time to build a network marketing business. We’re so lucky to live in a time where technology exists that helps us work smarter and not harder. But, we’ve also learned that not all network marketing tools are created equal. We’ve tried many network marketing tools over the years, but the ones on this list are tried and true and provide the most bang for your buck (especially the free ones!).
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Working 20 to 30 hours a week, Brickey says he participated in mandatory conference calls with other Pre-Paid Legal associates to talk about sales and ways to generate more business. He also says he held in-home presentations to try and sign up new customers, placed flyers at the public library and on parked cars, and passed out business cards in front of the neighborhood grocery store. But three months after joining and with virtually no income to show for it, Brickey was ready to call it quits. “I’m really frustrated with the whole thing. … I was in an income crunch and I was trying to be positive and give it a chance.”
Investigate the company. Once you set your goals, investigate the company that interests you. Find out if it’s a member of an industry association, such as the Direct Selling Association or the Multi-Level Marketing International Association. Also, contact the National Fraud Information Center. Nonmembership doesn’t mean your company of choice is a pyramid. Keep in mind, however, that organizations like these hold their members to a strong code of ethics and not only prohibit illegal scams but also provide tips and advice on how to spot and avoid them.
Thatcher Technology's powerful, configurable and scalable suite of direct selling software, Prowess, was created to maximize sales force productivity, optimize organizational efficiency and empower sustainable growth. Specifically designed for party plan and network marketing companies, Prowess is built from decades of experience with all sizes of direct sales organizations. Sophisticated yet simple to use, Prowess supports business growth with tools that motivate, retain and grow your sales force. This comprehensive system helps you easily and accurately manage your genealogy structure, calculate commissions and bonuses, and provide clear and timely communications to your team. Prowess also provides solutions for lead management, promotions management, order entry and business mobility. Online tools and business management applications give your sales force a platform to promote and manage their businesses with consistent brand messages, approved promotions and seamless communication. From a home office administration perspective, Prowess gives you the ability to effortlessly gather the comprehensive data you need to identify trends, analyze performance and model the impact of changes to your organizational structure. Prowess Analytics can deliver the insights you need to achieve stronger profitability and improve the value received by your customers and distributors. Prowess - comprehensive - rock solid - data driven
The MLM world is a hotbed for scams and shady characters. Companies like Business in Motion were found to be Ponzi schemes. Karatbars international, OneCoin, MMM and several others have all had run-ins with the authorities. In December 2016, Vemma paid a $238 million settlement to the US Federal Trade Commission (FTC) for non-compliance issues. I’d suggest reading sites like BehindMLM.com and ThompsonBurton.com to keep abreast of current events.
But many people can’t recruit enough folks and they end up spending a lot of their own money. As Laryea points out, “Recruits are often expected to purchase ‘starter kits’ or inventory to start selling products, which also earn the recruiters (and the recruiters’ recruiter) commission. Thus, multilevel marketing as a business strategy incentivizes participants to grow a sales network underneath them, also called a downline.”
Identify the product. The whole idea of network marketing is to use direct salespeople to sell products or services to the end consumer. So if no product or service exists, and only money is changing hands, head for the door. Pyramids often disguise themselves as reputable MLMs by taking on a line of products and claiming to sell them to consumers. However, little time and effort is spent actually marketing the products because profits come from recruitment. Ask what sort of marketing is allowed. If the company resists using viable ways to notify the public about its products or services, look out. You may be in pyramid territory.
While there are several platforms for doing this, clearly YouTube is the most popular for doing this. However, video marketing is also a great form of both content marketing and SEO on its own. It can help to provide visibility for several different ventures, and if the video is valuable enough in its message and content, it will be shared and liked by droves, pushing up the authority of that video through the roof.
A simple way to introduce your business, product and system is to hand out informational material to prospects. These tools give a general overview of the MLM and direct the prospect to contact you for more detailed information. Examples of handouts are CDs, DVDs, thumb drives or reading material. Be familiar with the information before giving it to someone you meet so you can discuss it at a later time. The most effective way to use opportunity handouts is to obtain the prospect's contact information and follow up within a few days to schedule a meeting and address any questions.