Network marketing was worth 36 billion dollars in sales as of 2015, and those numbers are growing every year. Just ask the 20 million people who are in the industry, when you learn how to do network marketing right, you are set up for great success.
The opportunities are endless, the community is awesome, and the lifestyle benefits are incomparable. What other career allows you to create your own schedule, be your own boss, stay at home with your family, and choose what products you want to sell?
The problem is, with so many options, and so many people involved with multi-level marketing (AKA MLM), how do you make it to the top? What exactly did those top-sellers do to get where they are?
They all learned exactly how to do network marketing the right way, and that is what this article is going to show you too. Read on for your own MLM success!
What is Network Marketing?
First, we need to clear the air. Network marketing is not a pyramid scheme.
A pyramid scheme is a “get rich fast” scheme, it is illegal and takes advantage of people.
Network marketing provides real, quality products that real people actually need.
Study up Before You Get Involved
Before joining in on an MLM company, there are a few key factors that you want to consider. Doing some investigating will ensure you are taking the right leap and help you feel more secure in your decision.
Market Research
Research the market and check for competitors, then see if there is an actual need for this product.
Maybe you love the idea of it, but will it actually sell? How many similar companies are selling that exact same product and how are they doing?
History
Looking into the history of the company will also add some security. If it is a brand new company, you have no idea if they are going to fold or not.
If it has been around for awhile, they will have pages upon pages of statistics to show you their success.
Integrity and Reputation
Investigate their CEO, who they are, what their mission is, their experience and their background. Check all reviews on that person, and the business, making sure they have a high level of integrity for your own success as well as theirs.
A great CEO knows that their success actually depends on yours, but also genuinely cares about you and the customer. There are so many outrageous health claims that some MLM’s are trying to promote, make sure they are not part of those inauthentic scams.
Growth
Check out where is this MLM at in terms of momentum.
See if they are increasing sales and growing every day, or if they have been at the same numbers for a while.
Training
If all the other elements sound great, the most important thing now is to check on their training programs.
They may have an incredible reputation, top-of-the-line products, and a great spot in the market. But if they do not show you how to do network marketing right, you are not going to get anywhere.
Listen To Your Mentors
A great network marketing company knows that your success is their success. That is why you must find a mentor and study them obsessively. They will have created a business roadmap for you to follow, which is typically a direct imitation of what they did to get where they are now.
A good mentor will be available for you at any time, hold your hand through the learning curve, and should be able to ask any questions you have. There should be a high level of support from them, so add them to your speed dial and ask every single question that comes to your head.
If they seem busy, get another mentor. That is where the term “orphans” in the MLM industry comes in when a mentor brings in a new person and gets too busy to help them learn.
It’s all about building a long-term relationship, and ensuring the newer people are feeling confident and ready to be completely independent.
The Internet Is Your New Best Friend
How to do network marketing is simple when you got social media and emails on your side. Create contests, do surveys, and start to really engage with people, this will help you know your target audience super well and then you can help them with their pain points by offering them your products.
Set your website up to capture leads, and set up an autoresponder to follow up with potential customers. Following up with customers lets them know you truly care about their wants and needs, as well as it reminds them of your presence.
Whatever you do, do not- we repeat, do not spam! This will ruin your reputation as well as the companies. It is not about trying to persuade uninterested people to buy, it is about finding the ones who do want to buy and helping them with the process.
Be Prepared Financially
If you are already working in another career, make sure you have saved up enough before you take that leap of faith and quit your job. This safety blanket will help you when any unexpected problems arise, and will also take more pressure off of you while starting your business.
If this is your first independent business, you will also need to learn how to do taxes differently. There are so many benefits of taxes for entrepreneurs, the best perk is that you get more write-offs, such as some food while meeting customers, and business expenses such as internet bills, office supplies etc.
Don’t Quit Your Day Job, Yet
Before quitting, make sure all your ducks are in a row first, and that you are actually making a good income from your direct sales. Check your records and see if there is consistency with your sales, and that it is in a steady incline. This prevents any future problems, as well as takes pressure off of you so you can actually enjoy your life!
Now That You Know How To Do Network Marketing, What’s Next?
It is time to get rocking and start your own network marketing business.
For more advice on how to generate leads, automate your sales funnels, and learn more about our prospecting software, please feel free to contact us.
Here’s to your success!