Networking marketing is the small business incubator taking the country by storm. This is evident by the sheer number of network marketing firms that a distributor can choose from.
Every day independent distributors take charge of their future when they join a network marketing firm and start their own business.
But the field isn’t without its own problems and unique challenges.
Anyone entering a distributorship should be prepared to come up with sales and marketing solutions to promote their business and keep the dream alive.
Is it the right field for everyone? No, but network marketing is the key to freedom for many people willing to put in the hard work and effort.
In the following article, you’ll learn about the very real challenges of network marketing and the solutions you need to help you close deals.
Problems Facing Network Marketers Today
Among the problems facing network marketers today are:
- Industry distrust
- Saturation of MLMs
- Disappointment and attitude
- Lack of preparedness
Industry Distrust
The foundation of any successful business relationship, whether in or outside of sales, is trust. It’s a pervasive public distrust of the MLM industry that hangs a cloud over network marketers starting a distributorship.
The odds are stacked against them from the get-go.
It’s a reflexive response for people to shut down conversations when they think they are trying to be sold to. Add personal perceptions about money to the mix, and it seems like a recipe for failure.
Small newbie mistakes, like not properly implementing marketing solutions, can manifest distrust amongst potential buyers.
Saturation of MLMs
In addition to industry distrust, saturation of network marketers is also an issue.
That’s because network marketing is an industry that tasks distributors with recruiting new network marketers into the organization in order to make better money.
That means more people selling the same products.
Critics of network marketing would go as far as to suggest network marketers are effectively creating their own competition and cannibalizing potential business.
While plenty of network marketers manage to achieve success in the current MLM industry, there’s no doubt that distributors must learn quickly how to differentiate themselves with creative network marketing solutions.
Disappointment and Attitude
Every small business owner makes a conscious decision to get up and work each day. It’s attitude and grit that make a business successful.
Disappointment can be an obstacle in the way of a positive attitude.
Network marketing is a business that is based on product sales and recruitment. Both functions require a degree of sales acumen and an ability to close the deal.
These are traits that are mission-critical to being a great network marketer but only come naturally to a small sub-section of the population with D personalities.
Others may need to consider additional sales and marketing solutions to help drive business.
Lack of Preparedness
Lack of preparedness occurs within the network marketing community for a number of reasons. But often times new network marketers find themselves in over their heads.
Maybe it’s because they thought it would be easier to make money at MLMs? Or perhaps they weren’t equipped with proper marketing solutions?
But whatever the case, the burden falls on the shoulders of network marketers to make sure they are prepared for the journey ahead if they want to be successful in this industry.
Network Marketing Solutions for Success
With a number of obstacles facing network marketers, it’s important they be prepared for success and closing deals. Every network marketer can learn something new from these marketing solutions.
#1 Love the Product
First and foremost, you have to use the product. What’s more is you have to believe in it.
With hundreds of companies to choose from, you can sell anything you want. Make sure it’s a product you can vouch for.
This helps to combat the perception of distrust. If you’re a knowledgeable consultant, involved with a product you love, people will believe that you want to help them.
#2 Remember, You’re In the Business of People
Materials can be helpful when selling and recruiting, but remember, you are in the business of people — not marketing solutions.
If you make it your daily goal to help more people by educating them on your product and your team each day, you are going to be successful.
Showing up and talking to people, building relationships, growing your network, attending events — all of these things while not directly related to selling should be considered business generating activities.
You have to be prepared to get out and meet people if you are going to close deals in network marketing. That’s just simple math.
#3 Make Sure the Timing is Right
If you need money tomorrow to pay your bills, it may not be the best time to start in network marketing.
Network marketing should never be about “getting rich quick”. In fact, “get rich quick” scams are another name for Ponzi or pyramid schemes. Those are illegal.
A large portion of industry distrust comes from a desire of individuals not to get suckered into scams that will leave them with less money.
If a distributor is coming to you with talk about “getting rich quick” that should be a red flag to take your business elsewhere!
The reality of MLMs is they can be a lucrative business but they require a time and financial investments along the way, like any other business.
If you are not in a position to put into an MLM time and money, take a step back and strategize how to get there before you start your journey as an independent distributor.
This way you ensure you can maintain a positive attitude and determination throughout your distributorship.
#4 Make The Investments
You’ve decided that you have the time and money to partner with an MLM, now it’s time to put your time and money where your mouth is.
Making strategic investments training, team members, start-up costs, trade shows and other marketing solutions is the only way to make it all worthwhile.
A criticism of network marketing is that there are too many untrained people in the field peddling the same products. Make yourself stand out by making the right investments.
#5 Learn to Prospect
To be successful in network marketing, you have to learn to prospect. In fact, prospecting is one of the most important marketing solutions according to network marketers.
If you’re new to the industry you should try to come in prepared by learning new ways to prospect from the start. This could include:
- Calling, texting, email and social within your sphere of influence
- Attending a trade show or other event where you have a booth
- Presenting marketing solutions at a seminar
- Talking with friends and family
- Leaving materials and/or samples with local business establishments
- Cross-promoting
- Attending other networking events
Come in hot with these ideas, and get ready to watch your business grow.
#6 Creating a Working Plan, Don’t Deviate!
Make a plan to work each day. Then stick to it!
This is good practice for anyone working from home. People tend to be more productive when they define their business hours.
#7 Make Time to Help New Recruits
Being invested in the success of your recruits is part of the deal. You need to make time to help them grow.
One practice that is helpful to creating a good distributorship culture and starting recruits off on the right foot is helping each new recruit secure some business within the first 48 hours of joining.
The message of your team becomes an actual tangible tale of success, and you create an environment where distributors help new recruits from the top down.
#8 Be More than a Network Marketer
There are two types of network marketers. Those who simply are network marketers, and those who are also distributors.
There are benefits to each.
Joining an existing team that is already producing revenue is the safer option for making money. There’s an infrastructure in place and people who are hopefully poised to help you grow.
Being a distributor means growing your business from the ground up which comes with risks.
This means securing the first waves of new recruits and ensuring they recruit additional legs of people who are trained, have a positive attitude and position your distributorship in the best light.
Managing your own business is tough no matter which path you choose, but there’s one that sets you up to make infinitely more money. That’s starting your own distributorship.
How to Pick an MLM
So you’ve decided to embark on a career in network marketing, but how do you know which company to pick? Clear the following red flags before joining an MLM:
- Don’t fall for “get rich quick” language
- Don’t invest more up-front than you can reasonably afford on the promise of a big return
- Avoid companies that offer recruitment incentives without any real product to base the MLM economy on
- If the company seems to have a “pay to play” culture where product purchases are incentivized to distributors on a regular basis this could be a red flag
- The company pays on more than 5 levels of successful distributorship driving up cost and competitiveness
Keep in mind, that like any industry MLMs are not immune to shady dealings. Make a good decision by keeping an eye out for red flags.
On the other hand, the following qualities could make a company a good fit:
- You love the product
- The company culture, values and mission align with your own
- Startup costs are affordable
- Training and marketing solutions are available to help you sell the product and recruit new members
Network Marketing Outlook
If you’re thinking of joining an MLM because you know that you’ll smash it with these marketing solutions, here’s what you can expect to encounter.
Since 2011, network marketing is an industry that’s been growing year over year.
The industry mostly appeals to women. Since women still carry more societal obligation with regard to domestic duties, child rearing and carrying the invisible workload at home, MLMs appeal to women as an empowerment strategy and a flexible way to make more income and break the mold.
There are many successful women in network marketing who can attest to its benefit.
Another group that is emerging the network marketing arena is Baby Boomers. As this generation thinks about retirement during an economic period when benefits aren’t guaranteed, network marketing is increasingly appealing.
With that said, the industry is still poised for growth.
Is It Time to Embrace Destiny?
MLMs use a lot of colorful imagery to get you thinking about your future. But all of it begs the question: is it time to embrace destiny and embark on an MLM journey?
If you thinking about starting a distributorship today, it’s important to do these things first:
- Understand the challenges facing network marketers; and
- Know how to overcome them
- Find the right company; and
- Avoid red flags
- Join the industry while it’s poised for growth and you can ride the wave to success
If the timing is right and you’re ready to grow your distributorship, remember these 8 marketing solutions for success:
- Work with a product you know and love to reduce learning curve
- Network like it’s your job, because it is
- Make sure you have your financials covered; and
- Invest in your business to the extent you can afford
- Practice prospecting, daily
- Create a schedule to help you maintain work/life balance
- Help the new guys (or likely gals, in this case)
- Make that money
For resources that can help you become a better network marketer, visit us today.