How to Building a Successful Network Marketing Business
Direct sales, in particular it’s sub-type, network marketing, is often viewed negatively. A bad experience with an overzealous or outright dishonest rep, as well as myths and misunderstandings about direct sales keep many people away from this home business option.
However, direct sales is a viable way to start a home based business if you go in with the right attitude, knowledge, and willingness to work. Here are tips for achieving success in direct sales and MLM.
1) Understand that it’s a business like any other business.
Direct sales marketers have the tendency to water down the plan so that it’s easy to understand, but that can also give the impression that it’s easy to do. “Help five people get eight people, and you’ll get a free car.” What they don’t tell you is that you’ll need to talk to at least 50 people to get the five people, and help them talk to at least 80 people each to get their eight. While these numbers aren’t exact, the point is, that you’ll receive a lot of ‘nos’ in your quest to find your few yeses, which can be discouraging.
But frustration is a part of running a successful home business.
2) Use your company’s products and services.
Your customers will know when you’re giving a spiel simply to sell them something versus if you’re excited about what you’re offering. The best direct sales reps use and love their products. They talk about them with enthusiasm, which is what helps sell them. Using your products and services also gives you personal experiences and information so you can discuss them honestly and accurately with potential customers.
3) Read and understand your company’s marketing and compensation plan, and policies.
Some companies forbid you to use their name in your marketing. Others don’t allow you to set up your own consultant website. The point is, buying into a business opportunity means there may be rules and restrictions you need to abide by.
Further, to maximize your income, you need to know the best way to make money. Which products are the most popular and earn you the most income? How can you earn bonuses? What are the overrides by helping others start a business?
The better you understand the terms by which you can run your business, as well as how you get paid, the better you can maximize your income.
4) Determine the best buyers for your products and services.
Further, in direct sales, there is a tendency to focus on targeting people who want to make money, and that’s not bad, but you’re better off focusing on people who want to make money AND would like your products and services. People aren’t going to be successful selling something they can’t get behind. Further, retail sales is a part of how money is made, but you can’t sell products to people who don’t want or need them. In fact, many people who start a business in direct sales were customers first, and they liked the products so much they decided to sell them.
5) Figure out where you can find your target market.
Use tools like Facebook Audience Insights to study your target. General advertising and promotion doesn’t work as well as sending your message directly to the people who are most likely to buy what you’re selling. What websites do they surf, what magazines do they read, what organizations do they belong to, etc.? That’s where you want to focus your marketing efforts.
6) Differentiate yourself from the thousands of other people who are working with the same company.
Why should people buy from you rather than that other rep who lives next door? Some ways to set yourself apart are to offer a higher level of service, give discounts or freebies, set up a loyalty program, etc. The key is to find a way to stand out from all the others selling the same thing you are.
7) Develop your own website and marketing tools, if allowed by your company.
This is another way you can differentiate yourself and customize what you offer. For example, on your own website you can offer an email newsletter with tips and helpful hints. Print business cards with an offer, such as a free consultation or a discount.
Be sure to read your company’s terms of service, as some have rules about creating your own website or what you can reveal about the company on a website.
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