The internet has opened a whole new world of possibilities. More people can become their own bosses and reach a customer base that extends beyond political and geographical boundaries. A plethora of marketing strategies are available to those who are serious about creating business success. Network marketing is one such strategy. It can be used in two ways; entrepreneurs can either create their own network marketing company or become a distributor for another company. Both strategies will be discussed in this article. Five strategies are presented for using network marketing to improve your business; three strategies are presented for becoming a distributor and three are presented for creating your own network marketing company.
Creating Your Own Network Marketing Company
- Have Appropriate Training Opportunities
There is an ancient proverb that says, “A chain is only as strong as its weakest link.” Increased sales will only occur for your company if each person is adequately trained. Although it is important to reward leadership, it’s even more important to ensure that new and existing recruits share the company’s values and are guided through the best ways to sell the product. Emphasis should be placed on ensuring that everyone in the company succeeds. If everyone succeeds, the entire company will succeed.
Existing distributors should be encouraged to provide comprehensive training to the new recruits they acquire. Distributors in higher leadership roles should also be trained on effective leadership principles. Adopting the right leadership principles is what molds a successful team.
- Provide Quality Products
The efforts of your distributors will be pointless if the quality of what they’re selling is poor. You must create a product that people will love. People who love products ultimately become repeat customers and spread the word about the great things your product has done for them. That’s the best type of marketing and will eventually make your product easy to sell.
- Offer Good Incentives
Why should someone become a distributor for your company? Sure, you have an amazing product but that isn’t enough to entice potential distributors. We live in a society where everyone wants to know what’s in it for them before embarking on a new venture or making a purchase. Make selling your product attractive by offering tiered incentives. With tiered incentives, distributors who sell the most and acquire the most recruits get greater rewards than those who don’t. Rewards can range from commissions to travel packages. The point is to make the rewards so attractive that people will be intrinsically motivated to aspire towards them.
Becoming an Distributor
- Choose the Right Product
Becoming a distributor is a good way to earn passive income. That passive income will be impossible to attain, however, if the products you’re distributing don’t align with your core business. For instance, a beauty blogger who incorporates distributor links for a construction company on her website probably won’t make any money from those links. A construction company is far removed from the beauty industry. A clear link must be established between your distributor company and your core business.
- Scrutinize the Pay Plan
The company’s pay plan is how you’ll earn your income. A poorly developed plan that shares minimal profits with distributors is not worth signing up for. Look carefully at how much money you get from each sale and how fairly the distribution is made between new and existing members.
- Actively Participate in Training Programs
Don’t approach network marketing with a know it all attitude. Success in the field requires a substantial time investment to truly make it work. Make time to attend the training sessions the company hosts for its members. Sign up to become a mentee in the mentorship program if there is one. Implement the advice you’re given. Remember that your aim is to succeed.
Network marketing can strengthen your income. You can create your own network marketing company or participate in an existing company as a distributor. Regardless of the path you choose, keep the tips presented in this article in mind.