Network marketing is a business model in which participants identify a company and promote its products and services for commission and other incentives with the ultimate goal of creating a stream of residual income system. It is a concept of free enterprise, which allows participants to build their individual network of marketers and earn as much as they can based on their performance.
Network marketing
allows individual marketers or distributors to earn on their own efforts and
that of their partners or team members.
To be
successful in network marketing the emphasis should not be on products and
services being promoted but on the business opportunity that the scheme affords
its participants.
Many people
join the scheme thinking it is a ‘get rich quick’ program that they can use to
solve immediate financial needs. If that is the only reason you are in network
marketing you may have to look at some other opportunities, as network
marketing is for those who will be patient enough to see a business grow from
the scratch.
Network marketing
is not for the lazy folks but for those who are ready to put in the required hard
work. And it is imperative to state here that if you put in the hard work you
will surely reap the reward. Never sign up into a network marketing scheme when
you are not prepared to put in the effort.
It does not
matter what the promoters promised in the process of prospecting you, they will
not help you to do the business when you eventually join. They can help you
with trainings and materials supports but it will be rare for anyone to help you
promote your own organization in the company.
In network
marketing you are your own boss and your business is with you wherever you
reside. With the use of the internet your business become global and borderless
as you can do business with people anywhere there is internet around the world
without you resident in those countries.
This post is
all about how to be successful in network marketing in 6 steps.
1. Choose a company to join
There are
many network marketing companies out there with fantastic products and services
plus good compensation plans. The onus is on you to conduct the necessary
search to identify a good company to work with. The following tips will help:
Firstly, the
company must have physical address/location. It must be duly registered by
necessary agencies of government. There should be a place where participants
can go when in need of certain information or settlement apart from the websites.
Secondly, there
must be products or services that the company is promoting. Ensure that the
products and services are relevant and affordable. Also the products must be
easy to use and understand. There should be no ambiguity in the deployment of
the products. Products or services that require lots of explanation and
conviction should be avoided.
Note that
any scheme that reward based on recruitment and not on product or services sold
is a ponzi scheme and should be discarded.
Thirdly, there
must be compensation plan. That is what you are working for. It is the reason
why you are in it! The compensation plan must be simple and achievable. Do not
fall for unrealistic compensation plan. Avoid complicated plan that is not
easily duplicated among team members. A good compensation plan is the one that
is easily duplicated among team members notwithstanding their literacy level.
2. Be a customer of the company
That is one
area many are failing in network marketing. Before you introduce a product to
your friend and loved ones you must have had a feel of it. You must know what
the product is all about. You must be willing to invest your personal cash if
you want others to invest theirs.
Being a
customer of the company makes you proud and confident about their product and
business opportunity. There would be no sense of guilt when talking about the
product since you have also bought for personal use.
3. Learn how the business works
This is a
core requirement in network marketing. The more you learn the farther you will
go in the business. Learn from the company through brochures, catalogues, CDs,
fliers and special training and conferences.
Learn from
those ahead of you in the company and business. There advice and counsel can go
a long way in realizing your goals.
4. Create an online presence
Network
marketing is often refers to as borderless business. In reality that will not
be unless you have an online presence. The internet affords you the opportunity
to interact with people from different parts of the world with little or no
stress.
Some companies
allow their distributors to create their own business websites to promote their
businesses to the world. Take advantage of social sites and forums like
Facebook, Twitter, Linkedin, Nairaland, Warrior’s forum to promote your
business with prospective customers. The opportunities online are unlimited!
5. Refer others
This is what
you always do. When you see a good restaurant for example you talk about it and
so recommend it to friends and family. This is what network marketing is all
about. You refer friends, family, colleagues, and neighbors to the company to
do the same thing you did.
You are not just marketing a product or service but
you are helping people around you to benefit from a company’s product or
service and its business opportunity.
The number
to refer at first is based on the company’s compensation plan.
6. Duplicate again and again
An effective
financial system is one that can be easily duplicated. The success of network
marketers lies in their ability to duplicate the process again and again. It is
not different from when in 9 to 5 job, you work month after months doing the
same job in order to earn salary.
The same
way, in network marketing, you keep repeating the process day after days in
order to earn commissions, bonuses and other incentives. The faster you complete
the process the better.
The above highlighted
6 steps if carefully followed will be of huge help to the success of any
network marketer whose goal is to achieve success in network marketing.
The post
How to be successful in network marketing in 6 steps appears first on JONADORC’sblog. I would like to hear from you also as
your opinion can help many of my readers out there.
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