The first thing people need to understand in order to be successful in Network Marketing is that Network Marketing is a relationship business. It is not a sales business, although product certainly has to move through your business, you don’t need to focus on selling your products door to door or having a “party plan” style get together. The big hitters out there will tell you that you need to jot down a hundred of your closest friends. Go through your cell phone or address book and write down everyone you know. Give them a call and without telling them anything, see if you can get them to the next Opportunity meeting and some hotel where a slick talker will get them all pumped up and will help you build your business for you.
Another thing is that Network Marketing isn’t get rich quick. Anyone selling you on the idea that for a fifty dollar start up cost and a great website already set up for you is all you need and 60 days from now you will be rolling in the dough is probably making money for signing you up, which falls into some illegal pyramid laws that we won’t get into here.
So Here We Are Going To Look At:
Five Simple Steps To Take To Be Successful In Network Marketing
How To Be Successful In Network Marketing Tip #1: Passion and Purpose
How to be successful in Network Marketing begins with having a strong “motive“. You have to discover and connect with your motive and let it drive you to success. Your motive has to be more than a target dollar amount earned monthly or annually. You must discover what inner dream drives you beyond just having a fat bank account. It should be something that inspires you so much that when you have hard times and experience set backs, as all successful people do, you keep moving forward. Perhaps proving something to people in your life who said you would never be successful. Or something more noble such has supporting a retired parent, paying for your children’s college education or being a philanthropist making significant humanitarian contributions. You may just want to travel the world to exotic places in your own retirement years and have it said of you that you left a legacy of wealth for your children and your children’s children to remember you by.
How To Be Successful In Network Marketing Tip #2: Product/Business Marketing.
One of the easiest and trending way of marketing in this age is the Online marketing, thus Offline marketing can also come in handy. An example of online marketing is Facebook Marketing. At the time of this writing Facebook as over 1.57billion users. By sometime in 2020 it should approach 3billion users. Smart marketers are staking their claim in the Facebook landscape. If you haven’t begun to learn proper Facebook marketing strategies now is the time. One thing to keep in mind Facebook should not be used to spam everyone you know with a link to your business in every status update you do. To succeed marketing your business in social media you have to first market yourself as a person who is trusted, helpful and likeable.
The more viral a product is the better for the growth of your organization. Viral in this case is not negative as in the case of a disease causing microbe. Rather it is something very good. Viral Marketing has to do with how readily the product sells itself with just a simple exposure or sample giveaway to a potential customer. It is also a function of how readily satisfied customers tend to spread news of it by word of mouth as well to others. Products are not so viral where there is a degree of education or explaining required before the customer commits to purchasing. This includes high dollar items and products that require a formal presentation. Your success is based on the success of the masses. The masses of people you need in your business tend to shy away from getting involved with products that require extensive “salesmanship”. For that reason a “viral” product that has mass appeal that can sampled out cost effectively with few words of explanation would be the most ideal product type for MLM success.
How To Be Successful In Network Marketing Tip #3: Company and Compensation Plan
Having a strong company that is going to be around and with a good compensation plan to pay you with is very important. Find out about the ownership behind the company. Don’t go with a company less than two years old. This is because if a company is going to fail it most likely will happen in its first two years. Make sure the internet popularity of the company is strong by running a check on the main company website at Alexa.com. This will help you avoid joining a company that is being marketed with much distributor hype but has low public interest.
As far as the compensation plan goes the company should have many different ways of compensating the distributors. Fast start bonuses and matching bonuses would be a plus. A plan that includes a “non-flushing” binary aspect has definite advantages over other types of compensation structures. The binary “2-legged’ compensation structure allows you to create excitement and momentum in your organization. This is done by placing members down-line in single file in two legs one underneath one another to unlimited depth. This can be done in a binary system without hurting your own money making potential as it would in most other type of comp plans. Another comp plan feature to look for is generational bonuses paid to ranking distributors for hitting certain achievement levels. Lastly bonuses pools that pay achievers a share of the entire company global business volume are always nice to see in a MLM company’s compensation plan.
How To Be Successful In Network Marketing Tip #4: Define Your Goals
There should be both long term and short term goals set. Short term goals are the most critical. A clear success strategy and action plan should be outlined for your first thirty, sixty and 90 days in the business. This is a numbers game. An action plan should have a new rep going through a significant number of prospects early on with the correct approach and strategy that works for your particular product and opportunity. Otherwise, chances are they’ll quit within 90 days due to lack of results. Regardless of what others do you must plan your work and work your plan.