3 Ways to Make More Money in Network Marketing

Table of contents:

3 Ways to Make More Money in Network Marketing
3 Ways to Make More Money in Network Marketing
Anonim

Network marketing, also known as multilevel marketing, is a method of selling products directly to customers within a structural network of sales associates. Network marketing relies on associates' ability to sell products and recruit new members. This differentiated structure of network marketing companies can yield good profits for the original promoter and participants who join early, but for those who join later, things are often more difficult and less profitable. Ask lots of questions and be realistic about how much you'll be able to sell and recruit new salespeople before embarking on this business.

Steps

Method 1 of 3: Getting Into Network Marketing

Generate More Money in Network Marketing Step 1

Step 1. Choose a company that sells products you believe in

A big part of network marketing is convincing other people that the product you are selling is of high quality and worth the investment. Using and liking the product you sell helps a lot to convince people to buy too.

Avoid companies that are overly saturated in the region where you live. For example, if everyone in your neighborhood is selling cosmetics from a certain company, there may not be many new customers to sell, even if they like the products

Generate More Money in Network Marketing Step 2

Step 2. Choose a company that is well established in the market

A company that has been in business for many years and has fair and transparent payment methods is more likely to be successful for you. Ask about the support and resources the company offers to new distributors.

Don't be afraid to ask all your questions before registering with a company. If the recruiter pushes you to sign up right away without answering the questions properly, it's probably a scam

Generate More Money in Network Marketing Step 3

Step 3. Set your own goals

Your goals can be related to how much you want to earn, how many sales you want to make, or how you want your lifestyle to be. Write down your goal and put it in a place you can see. Ask yourself every day what you are doing to reach your goal. Having a goal in mind will motivate you to move forward.

For example, you might set a goal of making $4,000 a month, making 30 sales, or quitting your job to dedicate yourself to network marketing full time

Generate More Money in Network Marketing Step 4

Step 4. Learn from established sellers

Start by contacting the person who recruited you. If she was convincing enough to get you into the company, she'll probably have tips to share as well. Ask what helped her when she started. Talk to top sellers and recruiters if you can. They will often be overly willing to give advice, especially if you are polite and open-minded.

  • Going to conferences and networking events can be good for talking to successful network marketers.
  • Look for resources like books, magazines, podcasts and videos on how to succeed in network marketing.
  • Don't forget to return the favor when it's going well. Share tips with those just starting out too.
Generate More Money in Network Marketing Step 5

Step 5. Know your target market

Who would benefit most from purchasing your product? Knowing who you are selling to, what their needs are and how to communicate with them is the key to success in network marketing. If you can, don't try to make most of your sales to friends and family. It's boring to ask people you like to buy the product, especially when they don't.

For example, if you sell comfortable, practical clothing for working moms or skin care products for young people, think of different ways to reach these groups of people, such as joining moms' groups on social media or participating in networking event in your city

Generate More Money in Network Marketing Step 6

Step 6. Stay at least a year

It may take a while to see your effort bear fruit. Many people get discouraged and give up when they can't reach their goals right away, but the truth is that building a successful business takes time. Persistence can take you far!

If you have a day job, wait to quit until income from sales and recruiting is stable

Method 2 of 3: Increasing Your Sales

Generate More Money in Network Marketing Step 7

Step 1. Work every day

Treat your new business like a real job and determine how many hours you will work. Depending on the stage of the business, everyone will have a different to-do list. Overall, you need to reach out to prospects and customers who are already buyers, post on social media, and grow your contact list every day.

Getting started in network marketing is the hardest part. Keep your goals in mind as you work

Generate More Money in Network Marketing Step 8

Step 2. Serve with excellence

Know everything about the product and the company so you can answer questions. You need to be able to tell potential customers what is different about your product and why it is worth the investment. Always thank customers after making sales.

Keep in touch with customers by providing information about new products at least once a month

Generate More Money in Network Marketing Step 9

Step 3. Keep up your work activities

Return all calls and emails within 24 hours. Create a calendar to post to social media regularly. Make a time each week to review your business plan, see what's working and what isn't, and assess what needs to change.

Acting consistently and professionally are the two keys to succeeding in business

Generate More Money in Network Marketing Step 10

Step 4. Advertise your new business to many people

You don't need to spend a lot of money to make effective ads. Use word of mouth and ask your customers to tell their friends and family about the product. Have a website and active pages on social media dedicated to your business. You can promote your new business and drive new customers to your site using Facebook groups and forums. Always have business cards on hand to distribute to people or leave in strategic places.

  • You can leave business cards or small promotional posters in coffee shops, bookstores and building entrances. Don't forget to ask permission before placing any kind of advertisement.
  • If you have the budget, promote your business through sponsored ads on social media.
Generate More Money in Network Marketing Step 11

Step 5. Harness the power of social media to attract new customers

Social media can be a powerful tool for selling and recruiting people. Join local, national or even international groups to find potential clients and new recruits. Use your own pages to promote your business.

Create an email list to send to interested customers. Use email marketing to keep customers informed about new products or promotions

Generate More Money in Network Marketing Step 12

Step 6. Have fun with your business

Many network marketing companies have parties to increase sales and recruit new distributors. Make up fun themes and throw parties you'd like to go to. Offer prizes, play games and eat and drink.

Having fun with work is an easy way to stay enthusiastic about the business

Generate More Money in Network Marketing Step 13

Step 7. Invest part of the profit in the business

If you start making enough money to pay all the bills and have some left over, think about which parts of the business you can improve. For example, you can invest in new products, increase your ad budget, or attend an event.

Always prioritize your personal needs before spending more money on the business

Generate More Money in Network Marketing Step 14

Step 8. Recruit new members by offering incentives

You can attract new recruits and motivate those you already have by offering rewards like more money, recognition, products, or even travel. Make it clear what members need to do to win the prizes.

Only offer what you can deliver. You don't have to offer anything big when you're starting out. For example, you can give $50 worth of products to the member who sells the most

Method 3 of 3: Recognizing Pitfalls

Generate More Money in Network Marketing Step 15

Step 1. Look for companies that offer membership at a low cost

Pyramid schemes often require a high investment, hundreds of dollars, while legitimate MLM companies will have a low initial cost. You will have to pay the first round of products and perhaps a small fee to receive training and join the company.

  • One way to recognize a pyramid scheme is to see if the company pressures members to pay a fee to level up.
  • If you have a loan or debt to join, think very carefully.
Generate More Money in Network Marketing Step 16

Step 2. Ask if the company buys back unsold inventory

Legitimate companies will buy back unsold products and pay you 80 or 90% of the price you paid. Also ask if there are conditions for buying the products back and read any small phrase at the bottom of the page.

If the company doesn't buy the products back, ask yourself what you'll do with the inventory if you can't sell it

Generate More Money in Network Marketing Step 17

Step 3. Observe who is billing the most in the company

Is it possible to earn enough money to make a living from sales or does most of the money come from recruiting other distributors and getting commissions on them? If new members are struggling to sell and earn commissions while older members are earning thousands of dollars every month, it could be a pyramid scheme.

  • Ask about the success rate of new members and the percentage who leave the business. Do they get their money back?
  • It is recommended that 70% of the income should come from sales and only the rest from recruiting.
Generate More Money in Network Marketing Step 18

Step 4. Be realistic about the market

If you are going to enter the market with a company that is already well-known, especially in small neighborhoods, the audience that can become a customer is likely already buying from other sellers. Do you have people in your social circle who might be interested in buying the product? Can they pay for it? Has someone else in the company already contacted them?

Popular by topic