How To Actually Make Money In Network Marketing
Most people that I know who are, or have been in network marketing, never seem to make a dime! Others (myself included) make a small fortune. If you're not doing VERY well with your business, and you're honestly putting in the effort, let me explain to you how to turn things around!
First of all, you need to make sure that you have the right product. That's the biggest mistake I see those who're failing make. At the same time, I see many marketing the same products that I do, not having the same success. So that's only one piece of the puzzle. Still, it's a very important piece of the puzzle.
The product must be:
- A product that you can't buy cheaper at the local Wal-Mart! If your potential customers could get the product cheaper locally, you'll have a hard time marketing it to people who, at least subconsciously, have to believe that they're being ripped off. To honestly evaluate "the true value" of the product you also need to separate the product from the "biz-op" end of it. The product has to actually be worth the asking price even if it didn't offer resellers or representatives a chance to profit from selling it.
- A product category that a large group of people are already buying. Having to educate people that they need your product is an uphill... and often losing... battle. Why not offer them something they're already using.
- A consumable product. One-time sales mean you are constantly searching for new customers. It's sooooo much easier to market something that they will love, use up, and keep getting more of from you. Built-in residual income simply can't be beat. Make the sale once... do the work once, and then earn commissions for a very long time.
Let me give you a quick example of such a product. Practically everyone over 6-years-old in America, and in many countries, send greeting cards. They send them for holidays, birthdays, graduations, the birth of a child, wedding, etc. Some people send as many as 70 cards a year... my wife probably falls into that category.
My wife and many others send tons of cards costing up to $5 each. Actually, it's more correct to say that she now sends cards on all of these occasions for less than $1 each. No, those are NOT e-cards, and that price includes postage. She sends them through a network marketing company that does print on demand cards, and allows her to upload her address book into an online database, and then reminds her of when it's time to send birthday cards, etc. This product also has wide appeal to professionals such as car dealers, bankers, realtors, lawyers, etc., because the system allows them to send entire campaigns of pre-scheduled sequences of personalize cards. It's very powerful.
That is just one example, one I happen to really like, of a network marketing business where you don't have to create demand, or search for customers. They're just waiting for you to show them a product that will actually save them money. Since these cards are fully personalized, don't require you to even leave your house, and can be sent in a few seconds... all for under a dollar, I doubt that even Wal-Mart can compete. It's a no-brainer! Take a look at: http://www.makeloyalcustomers.com/willie
You can even request a sample account be set up so that you can take the system for a test drive. The "try before you buy model" is time tested and PROVEN to work!
The only drawback to the card system is that they don't accept distributors outside the U.S. and its territories. Customers can be from anywhere though.
Now, aside from the product, you need:
- A proven company. The management needs to know what it's doing, and that only comes from experience in managing a similar business. It simply doesn't make sense to risk your time and other resources on inexperienced management.
- A well-designed website. This is a BIG drawback for many network marketing companies I see. Their site leaves you guessing "What in the world is this site about!" Most visitors that you manage to attract to such as site will simply leave, and in the process leave you frustrated with your lack of success.
- A compensation plan that doesn't require a Ph.D. to understand. For some reason, most network marketing companies choose to express their compensation plans in terms only someone "high on crack cocaine" could begin to comprehend. The easier it is for someone to understand the compensation plan, the better. After all, your prospects are coming into it for the money, so they must be able to understand how, and how much, they'll get paid.
- A belief in the product strong enough that you can honestly recommend it. All of our communications have a "tone" to them... even our written communications. We humans pick up on subtleties in communication, and we ARE able to tell when someone doesn't really believe what they're saying to us. We get that feeling that something "isn't quite right." At the same time, when someone shares information with you about a product that they're totally "ga-ga" over, you pick up on that too.
The business also needs to require some initial investment. Having studied hundreds of different companies, and different business models, I expect to make an investment to get into a good network marketing program. You need to attract serious business people, and programs that you can get into for absolutely nothing generally only attract those who will never upgrade, never do anything to really promote the business, and expect you to do everything for them.
A nominal fee for the starter kit serves to weed out those who would waste a lot of your time, and allows you to spend time working with those willing to invest in actually building a business. The reality is that there's no business, that I know of, that you can get into without some type of investment!
Another essential is training for team members. You MUST have a duplicable system that anyone can plug into. It can't be only suitable for certain personality types. Any new person must be able to follow the step-by-step training, and because of the system in place, achieve the same results. The training needs to be available on webpages, in printable form, and in audio form, so that team members can digest it in whatever form they learn best in. Live training events... or perhaps webinars need to also be available.
Far too many people fail in network marketing simply because they can't do what the top producers are doing. When that happens, it's because the top producers are often "lone wolves" off doing their own thing outside of the system. What that does is allow the lone wolf to bring in a lot of people who can't do what they're doing. That formula simply can't work long-term.
One final factor that differentiates the successful from the unsuccessful network marketer... the successful network marketer only recruits the right people. They interview prospects to determine why they want to get into the business in the first place. If the prospect doesn't have compelling, emotional reason for wanting to get into the business, top producers don't waste their time recruiting them. That takes a lot of discipline, but it's the only way to build an organization that will be successful long-term. Bringing in the wrong people... people who won't work, and want you to do everything for them, only leads to disappointments for everyone involved.
I've just shared with you the key to actually making lots of money in network marketing. It's all really just common sense, but common sense that far too few people seem to be applying. Think about what was just shared with you above. Then ask if you're doing it right. If not, making a few corrections will dramatically improve your results.
Willie Crawford is a corporate president, published author, seminar speaker and host, tele-seminar speaker and host, retired military officer, karate black belt, Master Network Marketing Trainer, and lifetime student of marketing. He shows people how to actually generate substantial income on-line using very simple, easily modeled systems. An example of such a system that you can study and duplicate is at: http://ProfitMagician.com
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