Multi Level Marketing Success
Working for yourself can be one of the most rewarding things you ever do to better your life. The freedom of being your own boss is an immense validation of your will to succeed and find financial peace for your family.
There are many different paths you can take to become self employed – some offline and others based on the Internet. One that provides ample opportunity to cash in on both avenues is known as multi level marketing or MLM for short.
This is a business model that has great potential, provided you align with an ethical, proven company and understand how to maximize your success in it without sacrificing your morals.
In any business, there is the potential to do harm to those you serve. Grocery and gas stores can jack up prices during a hurricane. Doctors can provide poor patient care.
Every industry has its foul players – but that doesn’t mean you have to rely on shortcuts and trickery to get ahead. I’m going to show you how to build a formidable business that’s rooted in multi level marketing where you can be proud of what you’re doing for others – and more than satisfied for what it’s doing for you.
Step 1: Set Your Goal of Unlimited Income Potential
Some people go into multi level marketing without a clear indication of what their financial goals are. They only know that someone told them about the opportunity and they’re willing to give it a try.
Each MLM company has a different system of payouts that you can earn. There are various levels of sales success, plus bonuses you can earn for meeting specific goals that the company sets.
The people who succeed with multi level marketing are those who have (and work) a plan with a specific goal in mind. You’ll want to see what all a company offers in terms of earnings and then formulate a plan on how you’ll reach your earnings goal.
For example, you might divvy it up so that 60% is earned from new recruits, 25% is earned from helping your existing download achieve higher earnings, which bump you up as well, and 15% is earned from bonus payments.
Step 2: Pick an MLM Company That Caters to Your Passions
There are certain prerequisites that you should have when you decide to work with an MLM company. For example:
• Is it an established company that has a long-term track record?
• Is the product or service good – something that will be in demand?
• Is it an evergreen offer or something that will quickly become outdated?
• Is the company focused on helping people succeed by educating and training them, or do they leave that up to you?
Two good examples of MLM companies who are household names and who meet all of the above criteria would be something like Avon or Mary Kay Cosmetics.
They’ve both been around a long time. Make-up is definitely in demand for a large number of women in the age range of teens through seniors. The quality is top notch, and training and education is ample.
You want that for yourself – but perhaps makeup isn’t something you want to be in. So one of the cornerstones to your own personal success will be to find something that makes you feel enthusiastic about what you do.
• Are you into nutrition? Maybe Nature’s Liquids will be your company of choice.
• Do you love cooking? Perhaps Pampered Chef will be a good match.
• Is there a sparkle in your eye every time you get around jewelry? Consider Origami Owl.
• Do people comment on your spic and span house? Look into Melaleuca or Amway.
• Are you really into aromatherapy? Maybe the Scentsy company.
When you find an MLM opportunity that matches your own interests, it makes selling and recruiting a breeze. Don’t just go with the household names, either. There are many up-and-coming companies who do a stellar job of helping their distributorship thrive – and you might be able to get in on a ground floor opportunity.
If something doesn’t interest you personally, but your friends are making money at it, it’s not a good idea to pursue it. You want to enjoy personal satisfaction every day – and a big part of that is in believing in what you’re promoting, using the products or services yourself, and sharing your excitement with others.
Step 3: Educate Yourself About the Product and Its People
Being able to talk about the product or service – and understanding all of the people involved – will help you dominate as an MLM leader in your niche market. When I talk about the people, that includes it founders, the teams, and the target audience.
Never sign up to be a part of an MLM company unless you’re going to avidly use the products yourself. It’s hard to sell something if you have no experience with it personally.
Learn what the ingredients are and research the backgrounds of them. If it’s anything having to do with the body, like a Nature’s Liquids product for example, then make sure you can talk about the health benefits of it.
For instance – if the company has a product for energy boosting, you might research the following things:
• The popularity of energy boosting products
• The dangers of other common energy boosting products
• The background of each ingredient – like Gingko Biloba for example
• Who needs energy boosters – and why
• Most popular flavors (if they have more than one)
• Proper dosages
Learn about topics that are relevant and related to the product so that you can add more value to the discussions. For example, when it comes to skincare or makeup, people might want to know if it’s tested on animals.
You should be informed about what consumers look for (and what to avoid) in their cosmetic and skincare lines. Know the statistics about those topics and be able to reassure your buyer or recruit about it.
Be able to talk about how the company was founded, know statistics about its growth, and get to know some inspiring leaders within the company so that you can relay their stories.
Conduct ample research into your target audience so that you can always tie your product into their own personal lives and how you can meet their needs. For example, leading back to the energy boosting example – if you find out that fatigued 3rd shift workers rely on these, then you can investigate the lifestyle of that group and be able to present your product as a solution.
Step 4: Recruit Beyond Friends and Family Members
For many people, when they get involved in multi level marketing, they look too close to their immediate surroundings for sales and recruiting and never go beyond what they already know.
It’s perfectly fine to share your enthusiasm and practice your promotional spiels on those you feel comfortable with – friends, family and coworkers. But you’ll eventually limit yourself too much and your growth will become stagnant.
Not only that, but you don’t want to be the type of person who continually badgers your loved ones so that they avoid your calls and feel uncomfortable around you.
A better way to enjoy MLM success is to be so broad with your net that your profits soar and people come to you asking – no, craving – to know how you made your money.
Where do you recruit? With most MLM, you can recruit both online and off. Many people focus on one or the other. Offline will include everything from word of mouth to print advertising.
Online, you have the ability to use plenty of free and paid tools to promote your MLM business. And you want to take a two-pronged approach to it. First, you want to promote the product to the target audience. Then, you want to promote the business opportunity side to those who are seeking it.
Some people say that’s what’s wrong with MLM – that the entire business is based on recruiting. But that’s not true. There are very few people in this world who wouldn’t like more money – and if you have a solid, fantastic product or service – why shouldn’t they be able to profit off of their enthusiasm for it?
Sometimes the new recruit will come to you looking for a business opportunity that’s ethical and they know nothing of your product or service. There’s nothing wrong with introducing them to it and making them a fan who is just as excited as you are.
How do you recruit online?
• Start a blog with a business opportunity slant like this one.
• Start a blog with a product or service slant.
• Join forums and use a signature file to promote your websites.
• Launch social networking groups like FB Fan Pages.
• Use paid traffic tools like pay per click and solo ads to build a downline.
Any of these options will work, and as you learn the ins and outs of marketing online, you’ll find your target audience, learn how to make yourself easily findable to them, and figure out which method converts better for you.
Step 5: Nurture Your Downline for Optimal Success
One of the biggest mistakes multi level marketers make is in recruiting and then abandoning their downline. Your success depends on their success, so it’s important that you work hard to see them through on their journey.
Everything you need to learn for your own success – you need to share with your downline. Teach them about the product. Teach them about the target audience so that they, too, can go build a downline.
Become a master of Internet Marketing and then teach them how to do things like build a blog, look up keyword phrases, develop good content, use paid advertising and more.
Be available to them on a regular basis. Hold webinars where you are there to answer their questions and share strategies with them. Don’t treat them as the competition. Treat them as your affiliates, because that’s sort of what they are – helping you earn through their own conversions.
Step 6: Balance Between Selling Products and Recruiting People
Never focus on only one part of your business. Always mix the two. If you focus solely on the business opportunity, then people will accuse you of promoting a pyramid scheme with no solid product or service on the table.
If you focus solely on promotion and sales of the product, then you won’t be taking full advantage of the business model that’s meant to help build your income quickly.
Make sure that each and every day is a balance of the two strategies. If you create a traffic campaign for the business opportunity, follow it up with one for the product. Or rotate your schedule. Spend a day on the business opportunity and the day after on product promotion.
Work hard and set a good example for your downline. It’s okay to enjoy the fruits of your labor and take a day off now and then, but don’t rest on your laurels when your business starts gaining momentum. Pour gas on the fire and watch your profits explode!