What is Network Marketing?
Communication is absolutely crucial in today’s world and network marketing is the perfect example. This flexible form of marketing involves direct selling of a company’s products and has grown rapidly in popularity during the digital age.
Perhaps some of the biggest network marketing companies sell health, beauty, and lifestyle products. If you’re intrigued by the idea of network marketing, learning more about these opportunities can help you decide if it’s right for you.
What is Considered Network Marketing?
Network marketing covers a wide range of businesses that may sell different products, but their core foundations are the same. Network marketing, also known as multi-level marketing (MLM), pyramid selling, and referral marketing, involves the selling of products or services from representatives who work from home and sell directly to a growing network of customers. This marketing strategy involves non-salaried workers who earn a living based on a pyramid-shaped or binary commission payment setup.
Network marketing companies such as Amway, Avon, and Herbalife sell diet/nutrition products and beauty care supplies, relying on direct marketers to make sales and recruit new sellers into the company. These businesses rely on the distributor network to connect with customers and promote their products. Social media and digital platforms have pushed network marketing into new territory, where many would say it’s easier than ever before to get involved and to interact with potential customers.
As the Federal Trade Commission states, legitimate multilevel marketing plans should pay workers based on their sales to the public, not the number of people they recruit and their sales within that group. The Federal Trade Commission is always urging consumers to recognize and understand illegal pyramid schemes vs. beneficial network marketing.
What are the Benefits of Network Marketing?
Network marketing can have many fantastic benefits for personal development and growth. Flexibility and freedom are also big advantages. With network marketing, you don’t have a traditional 9-5 job in an office setting. Instead, you essentially set your own hours and pursue sales at your pace. If you need a day off, you take a day off.
You want to work 15 hours a day, chasing leads and converting contacts into customers, you can do that too. Many people enjoy the transition from tough and strict working conditions to a more leisurely lifestyle, where you work on your network marketing primarily when it suits you. For people who want the flexibility to work from home and set their own schedule, it’s hard to find a better opportunity than network marketing.
This particular kind of sales job is well-suited to parents, students, and others who want to have enough time for the things they really care about in life. It can be so easy to miss out on family time, vacations, childhood moments, and more with a traditional career that doesn’t cater to those sorts of things. Network marketing can give you the space you need to keep working toward professional goals and making money while also pursuing your hobbies and home life.
The lifestyle is certainly one of the biggest draws associated with network marketing, and many successful network marketers post on social media about having more time for themselves and their families, as well as making money from home. As a commission-based system, there is the opportunity to make a decent amount of money through network marketing, so long as you put in the effort and work hard as you would with anything else.
What are the Downsides of Network Marketing?
Like anything in life, network marketing isn’t for everyone. Before getting involved, it’s best to make a conscious decision whether you want to give it a try and whether or not it’s right for you. Network marketing requires enthusiasm and confidence, as you need to really push and promote the products to get the results you need to see and make sales.
If you don’t believe in what you’re selling, neither will your potential customers. That’s one possible downside to network marketing, is it’s something that’s difficult to fake. “Fake it till you make it” doesn’t really apply to network marketing because it’s obvious if a salesperson doesn’t believe in what they’re doing. Network marketing is meant to promote products that make peoples lives better, and it’s important to share that message. If you struggle with that sort of thing, you may have to change your attitude in order to find success with network marketing.
What About the Naysayers and Negativity?
Another challenge that you may have to overcome with network marketing is the stigma surrounding it. Some people make blanket statements and judge all network marketing companies as a scam, in which only the people at the top get rich. This negative attitude and approach surrounding this way of marketing can be disappointing and distracting, but you can get past it with the right resources. If you’re working for a highly regarded and reputable company that takes care of their sellers and makes quality products, you’ll be much more likely to enjoy the experience.
You may need to be prepared for the fact that not everyone will believe you or want to hear what you have to say about your products, and that’s okay. You will be rejected by people who aren’t interested in your products or eager to support this business.
That’s okay, too. Rejection breeds good salespeople, and you need to be able to cope and adjust. Think of it as a challenge. If you can turn the negative into a positive and find the people who are perfect for your products, you’d be a good network marketer. Multi-level marketing companies are built on a foundation of dynamic, driven, and dedicated distributors who handle direct selling with ease and efficiency.
How do you Get Started?
If you’re ready to join in the network marketing craze and see for yourself what these opportunities have to offer, then you should look into some popular and successful network marketing companies. Do the due diligence and complete your research before jumping in, so that you can ensure this is a legitimate opportunity with a reputable company. There are some scams out there, so you want to read reviews, look into their products, and perhaps even talk to other sellers to find out what their experience has been like.
Nowadays much of this information is readily available online, making it easier than ever before to determine if a network marketing opportunity is right for you. The more you know, the better your experience may be. From there you can reach out to current sellers and start the process. Having an open mind and determination to make sales will propel you toward a bigger and brighter future with network marketing.