Multi-level marketing is all about building relationships.
Multi-level marketing or MLM is a marketing strategy where the sales of a product or service are done by independent contractors who are compensated based on their sales, as well as on the number of people they recruit to sell on their team, and the sales of those individuals. MLM is also called direct selling and network marketing. The key to a successful multi-level marketing plan is to choose a product or service that you personally believe in and to generate leads in your personal and professional network to promote both the products as well as the business opportunity.
Instructions
1. Choose the product or service that you wish to sell. While there are hundreds of network marketing companies that promise to make you a millionaire overnight, you will want to ensure that the opportunity is legitimate. Study the company and look for feedback online, and speak with current distributors to learn about their success. Some large network marketing companies with strong track records are Mary Kay cosmetics, Amway, Herbalife and Avon.
2. Learn about, use and become a brand ambassador for the products you are selling. People can tell the difference between those who are passionate about their products and those who are just trying to close a sale. Your genuine love of your business will ensure your success. For example, if you are selling cosmetics, use them. Always have samples with you, so that if someone compliments you, for instance, on your perfume, you can use the opportunity to make a potential contact.
3. Make a contact list. The most successful network marketing professionals start with a list of 100 people in their friends, family and personal network. Think about people who you think can benefit from your products, and also those people whom you believe would benefit from the business opportunity. Once your list is created, mark each person as cold, warm or hot. Cold leads are people you do not know very well or at all. Warm leads are those whom you know fairly well. Hot leads are the people you think could most benefit from your business.
4. Develop your presentation. Always be ready to answer questions about your company and the products and services you are promoting. Your presentation is your one chance to persuade a potential customer, and a potential seller. To create a successful multi-level marketing plan, you need both. Your presentation should get potential buyers excited about buying your products, but should also pique their interest regarding selling the products on your team.
5. Set goals and activity plans and stick to them. Successful network marketing does not happen by waiting for customers to knock on your door. It involves you being out and present, always working to gain customers and business partners. Look for trade shows, craft fairs, and other places where you can sell your products, and join networking groups where you can meet potential business partners. Once you begin to have individuals working for you, be sure to work with them to set goals. To succeed in network marketing, you and your team must always be selling.
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