For most people, network marketing or direct sales marketing is the overzealous sales rep trying to coerce you into joining their business venture or buy their product. Others imagine a group of housewives eating finger food and gossiping as they buy and sell supplements friends and family.
Those who want to join are scared because they’ve heard about various myths or have misconceptions about the nature of the job, mostly due to the low success rate. MLM is not a get rich scheme or hobby, just like any business it carries its’ own set of risk but success is possible if you’re serious about earning part-time income or making it a full career.
8 tips to help you succeed in networking business
Leverage the internet
Marketing guru Ferny Ceballos recently attended a major network marketing event and the primary lesson he shared from the experience was that internet recruiting works. It doesn’t cost a lot to set up. With a social media account and online branding strategies, you’re on the way to earning a six-figure salary.
Successful entrepreneurs who have earned millions from network marketing concede that combining recruiting and internet marketing is a surefire route to sales. This means engaging your prospects on social media, using video marketing, advertising on Facebook, sending email blasts and more. Ensure you get a cheap domain and premium web hosting services to maintain an online presence and redirect visitors to your website where they’ll find useful content and product information.
Choose wisely when selecting an opportunity
There are several features to look for when choosing a company to work with
Stability: the age of the company
Products: Do they offer top-quality products that customers will continuously desire?
Pay plan: different companies have different pay structures. Find one that is generous, even and fair in its overall distribution. How much money from sales is paid back to the distributor and what percentage do you keep each month? Is the sharing formula between old and new members fair?
Does the company provide support and training that’ll help you grow? These are questions to ask and answer before aligning yourself with a distributor or company.
Social media prospecting
This is the first stage of any networking marketing process. Channel your efforts both offline and online, especially on social media, where everyone is these days.
A few tips that’ll help include
Message friends of friends: Instead of camping out at your local supermarket use Facebook search to locate friends and their friends who live in your locality. You’ll be able to directly message friends of friends instead of your message going into another inbox most people don’t even know exist.
This sets the groundwork for a face-to-face meeting where you’ll have the opportunity to establish a more personal connection with them.
Qualify: the next step is to visit their profile to get a feel of their interest and personality. You’re looking for interest that resonates with your products or on a personal level. Do they like entrepreneurs, fitness, sports, and others.
Subsequently, send a customized message to the new prospect, stating that you’re a recruiter for a vitamin supplement company looking to expand. Are they interested in extra income? Don’t include signup links or send generic messages as you might get flagged for SPAM.
Blogging is an effective marketing strategy. People appreciate education and when you teach others, you build a personal connection that encourages them to trust you. Don’t let technology beat you. There are many systems you can join to create a free blog or you can outsource your content marketing.
It’ll take time but you’ll see result and people will start listening to you. Education precedes massive result. Create content based on current issues, debates or problems facing your niche. Offer advice or share your views. These posts create Facebook engagement that drives traffic and sales.
Share your business plan/product daily
While many MLM sponsors want you out there recruiting new builders, the real money is in sales of services or products. That’s where you get your commission. Customers who enjoy the product might be interested in joining as business builders. Talking about your product benefits your target market and generates new recruits at once. You could host a product party, share samples to people who’ll have a genuine need for the product or use your social media account.
Set presentation goals
Even in a digital age, where some sponsors conduct most of their business online, MLM remains an inter-personal business. It’s’ the personal touch that convinces a prospect to join your team or your neighbour to buy the product. Based on your goals and compensation plans how many people would have to see your product for you to reach your goal in a set time? This ensures your business grows rather than just surviving.
Don’t depend on family and friends for success
Nothing alienates friends and family faster than a network marketer who’s constantly barraging them with calls and products. Many companies advise new recruits to create a list of 100 people they know as a starting point. While there’s nothing wrong with talking to family and friends, most won’t join until they see your business success.
Treat MLM like any business. The focus should be on people who need your product. Most successful MLMers have few people from their list in their network.
Practice relationship marketing
Building relationships is essential to the success of an MLM business. People won’t trust you from first contact. Be patient with prospects. The industry is competitive and to stand out, it’s not the loudest promotion but marketers who are sincere and authentic. That’s how you build a lasting relationship with people you’re targeting.
Experienced marketers always advise starters to brand themselves because its crucial to your marketing success. Your prospects are patronizing you, not the company you represent. Branding helps you earn authority, influence, convince and recruit more people to your networking business. One way is to create branded social media accounts, create a blog, contribute to popular online publication or get career certifications related to your industry.