There is a moment in our life where someone will approach us and hard-sell their network marketing business plan. But they fail to realize that it’s not for everyone. And their approach makes people scared away from network marketing. This is the same thing most beginner does.
When they first join the network marketing company, they are so excited to introduce it to all their friends and family. However, it is very important to realize that not everyone enjoys the same journey.
For example, some people are trained to be employees, some are willing to change the path to be entrepreneurs and others want to be free. You can have the same sales pitch and offer to everyone out there.
Although you don’t need an office to start a network marketing business, you need to treat it as a business. Treat yourself as an entrepreneur and build your business. You can always scale your business big enough and having multiple levels of downlines. There is no limit on this.
Not only that, like every other business, you are building relationships with people. It’s either you recruit them or you sell them.
This is one of the most important things to ensure your success
To go into details, I had listed some important tips for anyone to start and succeed in network marketing.
Table of Contents
- 1 Find a Network Marketing Company with a Product You Love
- 2 Be Genuine and Ethical
- 3 Don’t Barrage Your Friends and Family
- 4 Identify Your Target Market for Your Network Marketing Business
- 5 Make an Effort to Share Your Product/Business Plan Everyday
- 6 Sponsor, Don’t Recruit
- 7 Listen and Sell the Solution
- 8 Learn How to Market
- 9 Stand Out from Other Network Marketing Distributors
- 10 Develop a Network Marketing System for Following Up
- 11 Final Thoughts of Network Marketing
Find a Network Marketing Company with a Product You Love
This new venture will be something that you are going to work hard day and night to get success in it. You are going to spend much of your time in it. Hence, be very sure that you enjoy doing it. Else it will be very hard for you to continue and grow.
This is especially important for you as a thought leader, as a sponsor to show your passion in this business and influence new partners to join you. This is how you can grow your business big and have more people working with you
Like the product below, I take the product daily and enjoy the product. Hence, I join the company and promote it to my friends as well.
Be Genuine and Ethical
One important thing in every business is to be ethical. Don’t over-promise about the products and only selling what people need.
One reason that direct selling gets a bad reputation is that many representatives use hype and sometimes deception to lure in new recruits. This will be a short-term business where people will quit your group as soon as they found out about it.
Legitimate network marketing companies want you to be honest in dealings with your customers and potential recruits. If you love your product, your enthusiasm is enough to promote it. Just make sure you’re not over-the-top or making exaggerated or false claims.
Don’t Barrage Your Friends and Family
Like what I mention at the beginning. Not everyone will be suitable for the network marketing business. Not everyone is willing or trainable to go out and meet people to promote their products.
But as a new marketer, what we did was to share with your friends and family about our new business opportunities and ask them to join. This is very bad if we push them too much. It will lead to them starting to ignore us.
Instead of pushing, I suggest showing them your success and get them to initiate the talking and learn about what you do. By this, it will be easier for them to accept it.
Identify Your Target Market for Your Network Marketing Business
Now, pay attention to this. This is one of the most important ones. Know your audience. In network marketing, we always separate our target audiences into 2 main groups. The first group is to for those who are looking for business opportunities and the second group is for those consumers. We don’t use the same sales pitch and key message for both groups of people.
For example, if you are selling supplements, it is easier to talk to someone who knows the importance of supplements and is interested rather than those who are not interested or aware that they need to take supplements.
The same goes for when you are about to sell the business opportunities. You only sell to those interested to earn, but not the consuming group.
While most network marketing companies will focus on getting new partners to join the network marketing business and grow their downline. However, there is a limit to how much you can grow your business in a short amount of time. Let say you have a very good pitch and can close at a 10% rate for new recruits. You will need to talk to 100 people to get one to sign up.
However, if you are selling products that people are using, there are lots of things you can do to sell more and earn more. For example, you can offer a special bundle in terms of quantity break discount when they buy more than 1 unit and even upsell them with other products to increase our sales value. Not only that, if you are in the health supplement business, you can always offer a subscription model. They will be charged automatically every month to get the supplement to be sent to them automatically so they won’t need to worry when they are out of supply.
Sponsor, Don’t Recruit
One of the keys in the network marketing business is passive income. Not only you get paid selling the products, but you will also get paid when your downline sells as well. This actually promotes sustainable business even if you stop working.
This is especially important for you to be the leader and trainer to grow your personal brand. A good sponsor shall be able to have sessions to guide and train them, answer their questions and provide supports when necessary.
For example, you can have a starter kit for new recruits like a done-for-you script for them to promote the products and business opportunities. You can also follow them in their first few meetings with potential clients and organize house parties together with them. When they are comfortable, then you will let them organize their own meetings and parties.
Listen and Sell the Solution
One of the mistakes I’ve seen in network marketers is similar to network marketer. Most companies will provide scripts and resources for you to get started. But most newbies will take that and implement it directly. That’s a good starting point, but soon you will need to customize the sales script for your audience.
You need a different script for the cold, warm, and hot audiences. For business owners and consumers. You need a story that can sync with them so it will be easier for them to accept your pitch.
Always remember this, people don’t know and don’t care what you put into the product in the first place. They are more interested in how it will benefit them. How the product can solve their problem. This is what makes them wanted to buy. The rest is just to help to justify their buying decision.
Learn How to Market
Physical marketing is good, but digital marketing is even better at this time when people are not able to meet face to face and are going online. Having a good marketing strategy will save lots of your time in filtering your prospect’s clients and partners.
You can laser-target those who are interested in the product and business and schedule an appointment with them through processes and systems before meeting them face to face.
This is where we have different sales funnel created for people in different stages of the funnel. We need to first let them be aware that we are there to support them and what problem they might be facing. Then, introduce them to the solution to hook them. Next, create the desire for them to make the purchase, and the last stage, to take action and close the deal. This is what we call the AIDA (Aware, Interest, Desire, Action) process. Go ahead to learn and master it.
Stand Out from Other Network Marketing Distributors
This is one big challenge for Network Marketing. The company is constantly recruiting and providing the same materials & information for all distributors to sell the business opportunities and products.
So why do people want to join you but not their friends or other marketers they saw online.
Your unique offer and leadership are the answer. The product is the same, the price is the same. All controlled by the network marketing company. The maximum you can do is sacrifice your member’s price to give some incentive. But that is not enough to create your irresistible offer. You need to go the extra mile and offer more.
For instance, if you are selling, you can have this sales process to offer them your main product, and then offer a one-time offer and other upsell before completing your sales process.
And if you are promoting the business opportunities, you can offer them your unique system that they can’t find elsewhere. For example, it can be your lead generation process, the follow-up process, and your landing page to convert leads. They can import to their account and can either directly use it or amend the content to suit their audiences.
Always provide more value to your customer and outsell your competitors.
Develop a Network Marketing System for Following Up
From the lead generation process we created, we will have their email address, phone numbers or even Facebook contacts all in our contact list.
This is the most valuable asset in our business that we need to leverage well. We can send them to email twice a week or even weekly to build relationships with them and share some values with them. Phone and Facebook are for daily communication or promotions that we can send them immediately.
They might not be buying from you on day 1, or the first week. But you need to let them know that you are there. You are the first person they need to look for when they want to know more information about the products.
It doesn’t cost you much to send out those emails or posts. You can use a system to schedule the email delivery. But it will change your business once you have the system in place. You can build it once and forget about it. You will just need to focus on growing your business.
Final Thoughts of Network Marketing
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