More than 20 million people in the United States are part of a multi-level marketing company, otherwise known as an MLM, while worldwide there are more than 125 million people involved. The industry is also sometimes referred to as direct sales or networking marketing.
You’ve probably read the statistics that state that 50% of people involved in MLMs drop out in the first year, and many don’t see a return on their investment.
But that doesn’t mean the same will be true for you. In fact, if you take networking marketing seriously and follow some of our essential network marketing tips, you’re far more likely to see success.
So if you’re ready to make your MLM business successful, read on for more information.
1. Treat Your Network Marketing Business Like a Business
This may seem like a no-brainer, but many people who run network marketing businesses don’t treat them like a real business. Instead, they see it more of a hobby or something they do on the side “for fun.” In reality, if you treated a non-MLM business like this, you also wouldn’t find yourself achieving success.
Instead of thinking it as something you’re doing on the side, think of it as an actual business that you’re going to take to the top. Plan like it’s a real business, invest like it’s a real business, and show your customers and those you’ll potentially sponsor, that you take it seriously.
2. Find Your Target Market
In business, you’re often asked to make a profile or the target customer. In doing this, you’ll discuss the person’s age, ethnicity, what they do for a living, their economic background, their educational background, etc. Do this with your company.
While the company itself may have a target market in mind with its products, you should still do this for yourself. You may wish to focus on certain types of products for certain types of people or to sell the opportunity to a certain demographic.
This is a great exercise in business regardless and helps you narrow your list of people you will be talking to about your products or services and the benefits.
3. Create a Web Presence
In this day and age, every business needs a web presence, and your MLM company is definitely no different. You will need to use MLM software such what MultiSoft Corporation provides, which is specifically designed to create websites, eCommerce / shopping carts, back offices, commission engines and much more for MLM business owners like yourself.
You should also create a web presence on social media, to help market the items you’re selling, as well as to sell the opportunity. You’ll want to invest in advertising to ensure that your web presence reaches the target market.
Do not simply use the MLM company’s website to have your clients purchase items. While most MLMs do allow you to have your own “shop” where you’ll receive credit for people buying items through you, this URL is often long and convoluted. This makes it difficult for your customers to find you, and in turn, makes it difficult to make sales.
Short, sweet, and geared to your target market is the way to go.
4. One of the Most Important Network Marketing Tips: Don’t Rely on Family and Friends for Sales
We all have a friend on social media who constantly posts about how amazing their experience with a certain MLM is. They may post about how great their life is now that they took the opportunity, and they may try to make sales through their friends on social media.
This can be incredibly irritating for a variety of reasons. Firstly, people often go on social media to relax, not to be guilted into purchasing something they don’t want from their friends and family.
Additionally, your social media likely has a wide variety of people you’re connected with. From your aunt Janet who lives in Wisconsin to your friends from elementary school who have moved abroad, they’re not all in your target market. And this is where relationships can become damaged due to network marketing.
While it’s not wrong to post about your success on social media once you’ve achieved it to pique the interest of family and friends, do not rely on them to make sales. Many will purchase an item once or twice because they feel bad, but they won’t become long-term or loyal customers.
As such, target people who actually want the product or who would benefit from the opportunity.
5. Make Yourself Standout
One of the challenges of an MLM that other business owners don’t face is that there are thousands of people who sell your product. Why should someone go to you to purchase their items when they could easily go to their neighbor, their grandma or someone else selling the product?
Ensure that you stand out from the rest. Take the time to answer the questions of why would someone choose you to purchase an item from? And, why would someone choose you to work under to begin their business? Once you’ve figured this out, you’ll have an easier time marketing.
Your Networking Marketing Journey
These network marketing tips only scratch the surface of what can help make you successful in this business model. Like any business, it will take lots of studying, as well as trial and error, to create a successful brand. But, if you stick with it and spend the time on it necessary, you can become a success in this industry.
Click here to have a look at our vast library of networking marketing resources. They’ll help you launch your business from mediocre to one that stands out.