Network marketing, also known as multilevel marketing, one-to-one sales and referral marketing is a business model that requires a growing distribution network to successfully build the business. Often targeting workers looking for flexible, part-time work; the DSA reports approximately 13 million people across the US are currently involved in direct selling. Signing up to be a Network Marketing Distributor often occurs online and in exchange for a small initial investment, individuals will be provided with a product sample pack which they can begin to market and sell immediately after completing an “Independent Distributor Agreement”.
Becoming a Network Marketing Distributor is unlike employment where employers must follow specific laws, instead Network Marketing is advertised as a “Be Your Own Boss” venture where time invested into learning the specifics of the service/product offered directly correlates to the success of sales. Many distributors refer to themselves as a business owner once they have successfully started moving products and services. An important aspect to remember is if you do not believe in what you are selling, your customers won’t either and your sales will reflect this.
Revenue is generated via two channels, direct selling of merchandise or services and commission produced by representatives recruited as “downline distributors”. Sales are made directly to the end-users, typically within immediate networks such as friends and family. These sales can quickly burn out and drop off after initial purchase so for Network Marketing success, individuals should dedicate time to grow their sales networks in addition to solid advertisement and promotion of their products and company.
Applying Sales Skills to Network Marketing
Strong sales come directly from utilising excellent sales skills, in addition to providing quality goods and first-class service at a good value to the customer. Where your product’s value is high end or luxury, delivering exceptional service is a necessity, with around 83% of satisfied customers offering excellent word-of-mouth advertising for your business.
First impressions are key in sales across all manners of communication, from telephone to email, and it is important to present yourself appropriately for the type of product or service you offer. You should be a confident ambassador for your product, knowing the intricacies so you may inform potential customers should they have any insecurities or doubts.
Good sales skills make your customer feel important, which in turn helps them become more relaxed and trusting of you. Make use of positive body language, a smiley demeanour and holding eye contact, in addition to taking a genuine interest in your client, their family, interests and anything they hold important. A positive tone of voice goes a long way, particularly on the phone, where potential customers will be able to gauge your own interest in the product or service you offer. When you are confident in your understanding of your client’s needs, fulfilling their requirements is the natural next step.
Is Network Marketing Suitable for You?
Network Marketing is an experience that returns results corresponding to the amount effort you put in; allotting most of your time to proper networking and wide-reach advertising. It is neither a hobby, nor a get-rich-quick scheme but an in-depth business venture that should be considered carefully.
Recruitment in Network Marketing
Recruitment in Network Marketing usually occurs between an established distributor and their customer. Customers who show a great interest and belief in the product are more likely to be a stronger sales ambassador which in turn generates higher revenue. This revenue generation makes it extremely important that Network Marketing Distributors work closely with their potential “downline distributors” so both parties can reap the benefits; proper support for recruited members and positive revenue for the recruiters.
Network Marketing may not be suitable for everyone but can be a rewarding venture if you have a strong sales personality and are not intimated by intensive networking. It can give you the freedom to be your own boss with hours to suit your availability and allows you to get to know your customer base on a more personal level. If you have the resources, are between careers, looking for a change or want to further supplement your lifestyle, why not start your networking marketing journey today?