As the name suggests network marketing is a people business. It is essentially a method of product distribution which allows an individual distributor to resell a line of products or services and in the mean time receive a compensation for introducing other people to the business.
So as Network Marketing or Multi Level Marketing (MLM) involves the relatively easy task of building a network of people who market products through their contacts, it is considered one of the easiest ways for an individual to start his/her own business.
As a network marketer you may directly sell the products to your existing contacts. However when you need to grow, it is obvious that you may not be able to increase the number of contacts you have, all of a sudden. The only possibility in the short run is therefore to get some of your existing contacts to distribute the same product just as you, so that they would offer the product to their contacts which inevitably results in a growth of the total number of customers.
The companies often offer you very attractive incentives for contributing to their growth in this manner. Further this is the most feasible way of growing your business as well. However many people still find it hard to attract people and as a result experience stagnation of the business.
So let us now discuss some of the specific issues pertaining to the growth of a marketing network.
Majority of the people focus on the other criteria of the business such as products, company and system, when presenting the business case to the prospective members. However they forget that the most important question lingering in the head of their prospects is, “What’s in for me?” As a result during your presentations you should be stressing on the benefits it brings to the network marketer rather than focusing on the benefits that the products could bring, how good is your system and compensation plan or how strong is the MLM Company your represent. The key here is listening rather than talking non-stop without first discovering what a potential members actually wants.
Although many network marketers neglect this idea, it is certainly possible to achieve growth via increasing the number of contacts you have. True you may not be able to do this in the short run. However this could be a very useful approach to achieving growth in the long term. Not only it increases your sales it provides you the chance of recruiting new prospects as your down-liners.
As we wind up the discussion, I advice you to set goals, develop a plan, work on your daily targets and never give up upon the hardship you face, on your way to success as a network marketer. Believe me the good times are yet to come.