May 19, 2020
Network marketing, also known as multi-level marketing or MLM for short, has been around for a while. But despite the longevity of the industry, MLMs have typically been looked down on because of a lot of misunderstandings. Some of this comes from overzealous sales reps or the reported low success rates. However, MLMs aren’t destined to fail any more than any other business.
Whatever business you’re trying to build, success comes from the work you put into it and doing that work correctly. While MLMs are slightly different from other entrepreneurial endeavors, the same strategies can apply to both. Here a few tips that can lead to success in your MLM business.
Doing your homework is key. You don’t want to align yourself with an organization that’s less than reputable. There are a lot of bad players out there who don’t have a long-term strategy but instead are in the MLM game as a quick cash grab. Find a company that has products that are high quality, effective, ageless, and marketable. You don’t want to get stuck with something that’s cheap or is irrelevant in a year or two.
In connection with finding a reputable company that has great products, it’s important to actually love the products you’re going to sell. There’s no sense in trying to share something you don’t care about. You need to develop a connection to the product; otherwise it won’t be authentic and genuine. People can tell if you aren’t sincere, so try to find something you can be passionate about.
A common practice among a lot of sales reps in MLMs is to try to sell to everyone. Family, friends, co-workers – everyone is a potential recruit. This approach only makes your job harder and alienates those around you. Instead, identify your target market – the individuals who will most likely engage with your product – and focus your efforts on them.
Traditional network marketing has been grassroots and word of mouth. But the times have changed and so has marketing. After you’ve determined your target market, use tools that allow you to reach out to them specifically. Create a website, post on social media, run targeted ads, etc. There a variety of tools out there that are fairly inexpensive, if not entirely free.
If you hope to have any success with your business, it’s important to have a plan in place. Jumping in with no strategy will only hurt you in the end. Figure out how you’re going to share your product with your target market and be consistent. There may be trial-and-error involved, but once you have a solid plan in place, you’re setting yourself up for success.
You can evaluate your success by setting goals. How will you know if you’re making headway if you don’t set any? It’s important to set daily, weekly, and even monthly goals so you can monitor your progress and hold yourself accountable. Set goals that cause you to stretch yourself, but at the same time are realistic.
You will get questions, concerns, and even push back. The important thing to do is listen. Don’t listen just so you can give a scripted response. Actually listen and internalize the concerns of each individual. Then craft a unique response that’s tailored to each individual’s needs.
After you’ve sponsored someone and signed them up, your work is not done. Be with them every step of the way. You’re their main point of contact now. Follow up and be available. They will have questions and you’ll need to support them on their journey to success.
I’m confident that if you apply these tips into your own personal business, you will see some level of success. And if you’re looking for a product to get behind, look no further than Nature’s Ultra CBD from Young Living. You can learn more by clicking here.