Network marketing or direct selling business is becoming very popular day by day. Many people are interested doing business with direct selling techniques. But in most cases 90-95% people failed as most of them do not have proper knowledge or idea about MLM business. They might heard some stories about people being success with it and they go for it. But before jump into some business we must have proper knowledge about that. Network marketing business is no different than that. Moreover this requires a lot planning because this is a business based on human network. You have great knowledge and you are very good at doing some job then you can single handily manage your business at the beginning. But in network marketing other people will be working for you. So you have to make such strategies where people will gladly agree to work for you. Here are some basic strategies you can look out before going for this business.
Some basic strategies to follow before going for mlm business:
- Product evaluation
- Be aware of the realities of MLM business
- Be genuine and ethical
- Identify targeted market
- Make an effort to share your product/services on daily basis
- Maintain score board
- Conduct seminars or meeting for up line and down line
- Keep learning
- If you are going to start product based mlm business, then product evaluation is very important. Many people just start business with products those have large profit margin. But how’s the market demand for that particular product? Is there any need or urgency of that product? First to know about market and demand.
- Identify the uniqueness of the product- the product you are launching is that product already available in the market? If you are selling the same product at higher rate who will buy it anyway? So try to evaluate the uniqueness of that product.
- PSP: Is your product a problem solving product? Most of the branded companies does not need any introduction because they launch products which can solve customer’s problem. So this could be a business idea – just find a problem around you and launch a solution with a product or service. People will surly buy your product or service.
Be aware of the realities of mlm business
- Before joining to network market be sure to learn about harsh reality. Not every simple thing is easy. MLM may seems simple – join 2 people then multiply each time and get huge commission after a month, but it is much more than that. People who are successful network leaders or members had gone through a lot. Lot of rejection, negativity and failure. So you have to prepare yourself for the worst.
- If you are an introvert and feel shy to talk to other people then this is a great disadvantage as a networker. If you are lacking to convince other people then it will be very difficult for you to join new members or make a large team.
Be genuine and ethical
- When you are in this business and want to grow your business be sure to stay genuine with your words. Many representatives use hype and sometimes deception to lure new recruits. But if you want to make your company to be legitimate then you need to be honest and also recruit potential members for your business, who are capable and hardworking.
Identify targeted market
- Before marketing any random place or people, first find out your targeted customers for your products. Who really needs those products, what kind of people will buy your products or take your services? Also make sure to launch products which have repurchase value. If your products are like single time usage value or once people buy it won’t be needing it for a long period of time then why people keep coming back for these?
- Why marketing for targeted customers? For example you have a product for makeup. Now if you market these products to random people it won’t be any help. In this case ideal customers would be college girls, working women, housewives and owners of beauty parlor or beauty salon. If you research market and do your marketing on the right places then there is high chances to involve more members in a short period of time.
Make an effort to share your product/services on daily basis
- Make a daily habit of sharing your products or services through social media, bulk sms, personal chat or email. So your interested customers always feel connected and stay updated with your products and business. Share others reviews with new members. Go through your negative and positive responses. And try to overcome those negative reviews by either modifying the products or contact that person directly to know more details. So you can get ideas how to improve your products or services.
- Take positive reviews and highlight those when marketing your products or services.
Maintain score board
- Maintain a score board for daily, weekly and monthly basis. Set target on daily, weekly and monthly basis and write down results accordingly. Suppose your target is to call 50 persons every day, join 30 new members to the system and monthly one meeting with uplink and down link. So make these target on a score board. And write down the results at the end of the day, week and month. So you can evaluate your effort and see the results. Also can understand where you are lacking.
Conduct seminars or meeting for up line and down line
- Always stay connected with your members. Inspire them often so they feel more importance. Conduct seminars and meeting where they can hear inspiring stories. And these way the relation between up line and down line will also improve.
- Hearing successful stories from networkers will inspire them more and motivate them to work harder. And through these meeting and seminars you will also able to attract more members. You will also able to find out members with great potential.
- This is a very important part when you are in MLM business. People will not tell you to do this. But when you are a leader, you have got many followers. If you want them to work for you in your way then you have to show them the path of doing it. There is a quote from Bhagwat Geeta “Followers will do what leaders do, but followers will not do what leaders say”. So if you just tell your members to do things they probably ignore, but if you show them the way they will definitely do it.
- And to run a business and to grow it you need to keep learning new techniques, new strategies. When you have enough knowledge then only you can lead others. So never stop learning.
These are few steps to follow when you are in these business. Have faith in yourself and keep trying. You will surely be successful.