Here’s a ten-step program help you focus your intentions and activities in network marketing. How you answer these questions will shape your network marketing future.
(For each product or service you promote, create a separate network marketing plan. If you intend to focus on getting business builders as well as new customers, write a marketing plan for each because researching your two audiences will require different activities and timing.)
Here are 10 non-negotiable things you should look for when selecting a network marketing company to work with.
Table of Contents
1. Ability To Sell Online
If an MLM prohibits you from selling products online, then your business’s growth is going to be seriously limited — primarily to your friends and family.
It’s not impossible to grow a local MLM, but it’s much harder than it needs to be.
So before signing up, check the restrictions. Are you allowed to sell products online? Are you allowed to run advertisements and drive traffic in other ways?
Those questions alone will largely determine how successful your network marketing business turns out to be.
2. Ability To Have Your Own Online StoreFront
If an MLM allows you to sell its products online, then the next question is… can you create your own store?
Why is this important?
Because it allows you to control the experience of your customers and it allows you to build your own business without being too closely tied to the MLM.
This means that you can grow however you want to grow, you can use sales funnels, and you can build it like a legitimate business rather than just throwing “parties” on the weekends.
Many MLMs now allow you to create a sales front on their own platform.
3. High Commission
And last but not least, how much commission do you get for each sale?
This is the crux of a good network marketing business. You need to be able to afford Facebook ads and other types of advertisements and still make a profit when someone buys.
Obviously, the higher the commission, the better.
4. What is the most desired result of your network marketing?
What will your multi-level marketing achieve? In other words, when someone comes across your message, what action would you have them take? Do you choose for people to buy your product? Do you choose for people to call you? Do you choose for people to join as network marketing distributors? Do you choose for your network marketing team to become more active?
5. What benefits will buyers of your product or network marketing opportunity experience which set you apart from competing offers?
What’s in it for your MLM prospect? What will a customer get by buying your product? What will a network marketing distributor gain by signing up with you? List every benefit you can come up with. To start, you can find many on your company’s network marketing promotional materials (great minds think alike). You can also find a wealth of benefits from satisfied users. Discover hidden benefits your network marketing product delivers that happy consumers will tell you about.
6. Who is your audience?
Who is your network marketing going to reach? If your answer is everyone, guess again. Just because anyone could use your product doesn’t mean they are likely to. Be prepared to talk to everyone as if they were your audience, but avoid wasting money and time marketing to questionable network marketing prospects.
When you know exactly who is most likely to buy your network marketing product or service you can confidently plan a network marketing campaign you can afford and one which will yield profitable returns.
7. What tactics will you use to reach your audience?
When you’re making your network marketing tactics list, it may get a little long but don’t worry. You won’t be launching all the tactics at the same time. Working from your marketing calendar, you’ll learn how to schedule your action steps. Network marketing is never static; it’s the ongoing, dynamic lifeblood of business. Keep adding tactics to your list and delete those that done work. Remember; tactics that are inappropriate for you may be perfect for someone else on your team.
8. What do you choose to be known for? What is your network marketing niche?
Does your network marketing compensation plan pay out more bonuses than any other company? Is your product the only one that solves a particular problem? Does it solve a person’s problem faster, easier or cheaper than the competition?
9. What is your identity?
Image can easily be confused with identity. Businesses use marketing to project a favorable public image. The highly publicized scandals of Enron, Xerox and Woldcom have changed their images forever. Consumers are hungry to do business with those who present a true identity, one that reflects values of honesty, integrity, and services. Though corporations can hide behind huge ad campaigns, network marketers are face-to-face with network marketing prospects and customers daily. People who meet are quick to pick up on false pretenses. They are more willing to do business with you in network marketing when they trust you are who your marketing messages represent you to be.
10. Budget how much you will invest in marketing
What percentage of your network marketing compensation check will go back into your marketing? This amount should be expressed as a percentage of your expected network marketing income from the next year. How much should you budget for marketing? It depends on how fast you choose to grow. How many new network marketing distributors can you support, train, and follow up with each week? There’s no point in bringing in more people than you can realistically work with, because many of those you abandon will drop out as soon as you start ignoring them.
Start Your Network Marketing Business Today!
One of the best parts about having a network marketing business is that the entry threshold is very low.
Typically, you just need a little bit of money and some determination to get started.
So follow the steps from above — choose your product, determine your target market, create your sales funnel, pay for advertisements, and build an email list — and you’ll be well on your way to creating a successful network marketing business.