Are you a Network Marketer struggling to get traction in your business? Maybe you are new in the business and a little overwhelmed about what you’ve gotten yourself into. I want to share something with you that can help you get past those roadblocks and propel your business to new heights.
Full disclosure here, I am not in Network Marketing at the moment but I have been in the past and if I had been able to leverage the power of the internet in my business back then I may not have left.
I have personally known several people who did extremely well in network marketing. It was life changing for them! I have also known many more that have not been successful.
In this article we will look at what network marketing is, how it works, pros and cons of the business, how to leverage the internet to connect with customers and new distributors, and other aspects of it. We'll also look at some alternatives for earning income outside of network marketing.
What is Network Marketing?
In the ever-evolving landscape of modern business, network marketing has emerged as a distinct and controversial business model. Network marketing, also known as Multi Level Marketing, involves the distribution of products or services through teams of independent distributors. Participants earn income through the personal sale of products and through recruitment of teams of distributors and their sales efforts, thus forming a hierarchical network.
How It Works:
Participants are typically required to purchase an initial inventory of products and are incentivized to recruit others to join the network. As these recruited distributors make sales, a portion of their earnings is funneled upwards to the person who recruited them, creating a chain of income distribution.
Pros and Cons of Network Marketing
Pros:
- Flexible Business Model: Network Marketing allows individuals to work at their own pace, making it suitable for those seeking flexible work arrangements.
- Training and Support: Reputable network marketing organizations provide training and support to help distributors succeed.
- Community: Can provide a sense of community and teamwork with fellow distributors.
- Entrepreneurial Experience: Network marketing offers a taste of entrepreneurship without the need to create products or manage complex logistics.
Cons:
- Start up costs: Can be prohibitive as many companies have sign up fees and/or starter packets of products/supplies must be purchased to begin selling.
- Sustainability Concerns: Some network marketing plans may not be sustainable if their primary revenue comes from recruitment rather than actual product sales.
- High Attrition rates: Many participants drop out due to challenges in building a network, causing them to lose their initial investment.
- Negative Public Perception: Network marketing has often been associated with pyramid schemes, leading to skepticism and negative public perception.
- Limited Control: Distributors often have limited control over pricing, marketing strategies, and product quality.
Top Five Network Marketing Organizations
- Amway: Amway is one of the largest and oldest MLM companies globally, offering a wide range of products, including health and wellness, beauty, and household items.
- Herbalife: Herbalife is known for its nutritional and weight management products. The company operates in over 90 countries and has a significant global presence.
- Avon: Avon is a well-known beauty and personal care MLM company. It has a long history and a strong focus on empowering women as independent sales representatives.
- Mary Kay: Mary Kay specializes in skincare and cosmetics. It is particularly known for its direct selling approach and empowering women to build their own businesses.
- Nu Skin: Nu Skin focuses on anti-aging products and nutritional supplements. The company operates globally and has a direct selling approach.
It's important to note that the popularity and success of MLM companies can change over time, and new companies may emerge. Additionally, the perception of network marketing has been a subject of debate, with some people praising its entrepreneurial opportunities and others expressing concerns about potential pyramid scheme structures. Before getting involved with any MLM company, it's advisable to thoroughly research and consider the risks and rewards associated with the specific business opportunity.
Start up Costs
Startup costs in network marketing can vary widely depending on the organization and the product or service being promoted. While some companies offer a low-cost entry point, others may require a more substantial initial investment to purchase inventory and promotional materials. Distributors are encouraged to carefully research and understand these costs before committing to any network marketing venture.
Certainly, do your due diligence on any company you are thinking about joining.
Online marketing can be a powerful tool for network marketers to reach a broader audience, build relationships, and grow their network marketing business. Here are several ways network marketers can leverage online marketing:
- Social Media Presence:
- Create profiles on popular social media platforms like Facebook, Instagram, Twitter, and LinkedIn.
- Share engaging content related to your products or services.
- Build a community by connecting with potential customers and other network marketers.
- Content Marketing:
- Start a blog or create video content that provides value to your target audience.
- Share tips, tricks, and information related to the products or services you are promoting.
- Use SEO strategies to make your content discoverable.
- Email Marketing:
- Build an email list of potential customers and leads.
- Send regular newsletters, promotions, and updates about your network marketing business.
- Use automation to nurture leads and maintain communication.
- Online Advertising:
- Run targeted online ads on platforms like Facebook Ads, Google Ads, or Instagram.
- Use demographic and interest targeting to reach a specific audience.
- Monitor and adjust your ad campaigns based on performance.
- Webinars and Online Events:
- Host webinars to showcase your products or share valuable information.
- Conduct virtual events to engage with your audience and answer questions.
- Use platforms like Zoom or webinar software for interactive session.
- Influencer Marketing:
- Collaborate with influencers in your niche to promote your products.
- Influencers can introduce your products to their followers, increasing your reach.
- Online Training and Resources:
- Create online courses or tutorials related to your network marketing products.
- Provide educational content to help your audience understand the benefits of your products.
- Social Proof and Testimonials:
- Encourage satisfied customers and team members to share their success stories.
- Use testimonials, reviews, and success stories in your marketing materials.
- Engagement and Interaction:
- Respond to comments, messages, and inquiries promptly.
- Engage with your audience by asking questions and encouraging discussions.
- Mobile Marketing:
- Optimize your online content for mobile devices.
- Consider using SMS marketing or mobile apps to connect with your audience.
- If you are uncertain about Network Marketing or want to look at alternative ways to make incremental income, or even find a new career, check out the options below.
Alternative to Network Marketing: Exploring Other Avenues
For individuals seeking entrepreneurial opportunities beyond network marketing, several alternatives exist:
- Affiliate Marketing: Promoting products through affiliate links on blogs, websites, or social media can generate commissions based on sales.
- E-Commerce: Creating an online store and/or selling products through other platforms like Amazon, E bay, Shopify, etc. allows for more control over branding and pricing.
- Freelancing: Leveraging skills such as writing, graphic design, or programming to offer services on platforms like Upwork or Fiverr.
- Coaching/Mentoring: Offering coaching/mentoring, either individually or group, webinars online.
Now that you have several options for starting your online business, be that network marketing or one of the alternatives I mentioned above, the key to being successful as an online marketer is to educate yourself in the skills needed. It's not as simple as setting up your website and waiting for customers to find it. You may be waiting a very long time. Harness the power of Authority Marketing to attract customers to your business, allowing you to work smarter, not harder. After all, isn't that one of the reasons you wanted to start an online business?
Conclusion:
You may find what you're looking for in Network Marketing, and I hope you do, but if not, there are other options available to you for earning extra income or taking your career in a different direction.
The key to being successful online lies with your online marketing skills. Take the time, effort, and money necessary to learn the skills needed, otherwise, you will be wasting your time creating an online business.
I discovered an education platform that was instrumental in teaching me in all facets of my online businesses and I know, unequivocally, I would not have had success without this education.
This is a real opportunity to learn how to create automated income streams that will provide you with the time and financial freedom to live the life, that up until now, has only eluded you. You will be taught valuable skills and learn what it takes to become a gifted online marketer.
I would be happy to send you the FREE video workshops. The same ones I received to start my successful online journey so you can check it out yourself. Don't let another dy go by, start building your new income stream today.
To your successful journey!
I really enjoyed your webinar – the frankness was so true. It’s no secret that most people fail in modern-day marketing due to a lack of sales skills. Thankfully, the Authority Marketing system provides a solution for affiliate marketing. I’m eager to learn more about this system and the ways that it can contribute to my own success.
Hi Allison, Thank you for the kind comments. Marketing is actually quite different from sales but I am enjoying learning the marketing skills that work best online, including Authority Marketing. IT IT’S THE GAME CHANGER!! There is so much really great content in the Launch You program that it can be overwhelming at times but I am so thrilled I found it and stuck with it. It has catapulted me in building my online business and I’ve learned so much from the mentors, coaches and community members. If you have questions in your journey please reach out. I’ll help you in anyway I can.
Carol