Facts of Network Marketing
What is Network Marketing or Multi Level Marketing though I hear many refer to MLM as Network Marketing nowadays? Here are some facts of network marketing that I am bringing to you for your knowledge and reading pleasure.
So what is Network Marketing, also known as Multi Level Marketing all about? Whatever the name is, it is in fact MLM or multi level marketing depending on the usage of different name to describe the business. You leverage on your list/network to expand your business and likewise, those that you have recruited under you, known as your downline. See the link now?
Some if not many, do not like the word MLM and many will take a few steps back or stop all conversation about the topic once they hear the very words. Multi-level marketing, often called “MLM”, to some MLM means “many lose money” and in some cases, “many lose more”.
Why so you may ask? Because sad to say it’s a fact that many experienced this before. Is it due to the product or the marketer? This is a topic to be explored and debated.
Multi-level marketing involves you, your up-line (sponsors) and down-line (those below you) in the system, that’s why it’s referred to as Network marketing. Here are some facts of network marketing, what does it take to get you started in the business and hopefully give you a better insight on what is Network Marketing all about?
For a start, you will need to put money into the network marketing business and you are suppose to get something of value out of it, such as an education, resources, or tools, etc.
Never mind if you don’t make use of the product or your down-lines, concentrate on the business prospective and the amount of money you can earn from persuading other to join and promote this same business. Educate your down-line (recruit) the same way!
The messages brought to you in the Network Marketing Business are:
Anyone can do the business, that’s including you.
- Everyone is a prospect (that’s what they call potential business partners or unsuspecting prospectors) from your family, relatives, friends, strangers.
- You will be responsible for how successful you are, depending on how many downline you recruit into this business.
- It’s a business of duplication, getting your downline to duplicate what you or your upline has been successfully doing all this while.
- It’s not about only those at the top benefitting and everyone has a fair chance of out performing the person that introduced them into this scheme in the first place.
From this market, you need to identify the serious prospects, those who are serious in growing the business, like-minded people like you and get them in your downline, groom them into team leaders.
For those who aren’t serious, you need to weed them out because they are not going to help you grow your business. Well, they may in the short run but they will leave the business thus you lose out in recurring income from these downline.
Once you got interested members in your downline of your network marketing business, it’s time to train them on how to market/promote the business they have joined in order to prosper just like what you have been taught.
Growing your Network Marketing Business is a matter of duplication. You want your down-line, the people on your team, to duplicate what you do. They need to succeed in order for you to succeed. You need to talk to people, prospecting is the term used, face to face, on the phone, through your website, through email marketing to get them interested.
Hopefully you are able to grasp the gist of what is Network Marketing all about here with my brief explanation and decide if this is the business model for you. You can read about my opinion about Affiliate Marketing vs Network Marketing here. Whatever your position you plan to take, go in with your eyes wide open!