Have you ever wondered why only few people build a successful network marketing organization. Would you like to build one too? If your answer is YES then Follow the 3 simple steps below and you will be on your way to Building A Highly Profitable Network Marketing Business
Step# 1: Be a loyal user to your product – the most important of the 3 steps
To be successful in network marketing requires you, as the distributor, firstly be the user of your products. Use your products and be loyal at it.
Many network marketers overlook this very important step, and it affected their chances for success.
Use your products and get to really love them. Without this, every attempt to make money in network marketing will be really hard for you.
You may wonder, how does using your products and successful network marketing related?
Let’s look at an example. How would you react if your friend promoted to you something but told you that she did not use it? You would think she don’t believe in the product herself and the product probably doesn’t work, wouldn’t you?
Here is an easy example. You own a restaurant. But every lunch time you go to another restaurant to eat, and every time your friend or family wanted to meet you during lunch time you set it at another restaurant. You promote your food or drink to them, but when they ask you how does they taste, you said you never ate at your restaurant. What do you expect them to think of your food?
5 undeniable reasons why you should use your products
You increase product knowledge! Knowing your products is a crucial part of your selling or retailing part of your network marketing business. The best way to gain this essential knowledge is by using the products yourself.
You improved your confidence to give details about the benefits of your products to your customers! These ties well with the product knowledge. By gaining first hand information of what benefits your products offer makes it easier to explain the benefits to your customers.
You will be dealing with objections easier! Imagine… Your customer tells you product so and so is better than yours. Unless you know your products very extremely well, you will never have a sale.
You get priceless qualifying points! Almost all network marketing compensation plans pay commission based on points gained during the pay period. Every product you buy from your company earns points. You can easily achieve the minimum requirement points from products bought from your personal spending only. This is particularly useful if you do not have much time to do actual selling.
You put away money on the discount allowed to distributors! Network marketing companies offer products to distributors at discounted prices. Depending on your level, you could be saving as much as 50% on the products you buy for personal utilization.
Already using a similar products? Not a problem. Just replace them.
For example, you sell household products through your network marketing business. Before going out to do household stuff shopping, check from your list any similar product that is available through your network and buy it from your company.
Whatever you do, being a loyal user of your own product will go a long way in helping you build a successful network marketing business.
Step# 2: Build an increasing foundation of retail customers
Building an increasing foundation of retail customers is crucial to successful network marketing for three significant reasons:
- It is much easier to switch an existing product user to a distributor than to try and recruit a non-product user.
- Retail customers can be a supply of your working funds. Because you sell on a cash basis, you are likely to have the much needed cash flow while still waiting for commissions to be paid out.
- You get retail profit from your retail customers.
How to Build an increasing foundation of Retail Customers
Recommend your products to other people
You do this every day, don’t you? Recommending a product or service to a friend or colleague will come naturally if you love the product or the service. If you have followed the first step above, recommending whatever you sell to others should be simple to do.
By recommending your products to other people you will build a solid foundation of retail customers and potential distributors.
Carry a few products with you all the time.
Have a huge selection of product? You do not have to carry your entire product range. Carry only a few, mostly those that you can use at any time. Let’s say you sell skin care products, you can carry your hand lotion or sunburn lotion in your handbag. Pull it out every time you are with others and apply it. This way you may started out a conversation around the product immediately.
One of the basics of successful network marketing is selling the largest number of products to the largest number of possible people. You can do this easily by constantly recommending your products to other people. You can do this almost anywhere and at any time.
The first two steps are vital for successful network marketing. The next step depends to a large extent on your successfully carrying out the first two.
Step# 3: Sponsor your existing customers into the business
Many network marketers overlook the opportunity here.
Because many network marketers focus on actively promoting the business opportunity with little or no regard to building a retail customer base. They thought, by promoting the business opportunity, building a successful network marketing business will be faster. They operate like the get-rich-quick mindset.
Of course, a few individuals do succeed this way, but looking closely, actively promoting the business opportunity is probably the number one cause of the high erosion rate in network marketing. Well over 80% of individuals starting a business in network marketing quit the business within a short time.
Few network marketing distributors understand this business concept. They were made to believe that they can be rich overnight, and the only way to do this is by promoting network marketing to as many people as you can.
Ever heard of the three foot rule? Then you know what I am talking about. Newcomers are told that everyone within three feet is your prospect and should talk your business to him or her.
Here is what Ken Evoy, president of SiteSell.com says about successful network marketing:
“In order for your network marketing business to flourish and be profitable in the long-term, you need an expanding base of satisfied, committed customers who share their enthusiasm by becoming active distributors themselves in your downline.” -Ken Evoy
Can you see the point? You need an expanding base of satisfied, committed customers who share their enthusiasm by becoming active distributors themselves in your downline.
These three steps are the foundation of building a successful networking marketing business. Any activity over and above these is merely a supplement to them.
Here are some examples:
Lead generation: You need leads to increase your customer foundation and eventually your network.
Duplication: You can only duplicate yourself in what you are already doing i.e. using products, building a customer base and sponsoring satisfied, committed customers into your business.
Training: You train people to use products you already use… you train people so they can become better product users and know the products better than you do… you train people to sponsor others into their businesses… you train people on build a solid foundation of customers.
There is so much more to say but the most important point is – use your products, build an increasing foundation of retail customers and sponsor existing customers into your business, and in the long run you will have a successful network marketing business and achieve your goals.
If you already in network marketing but still struggling then read how TTTBuilder system cover all 3 important steps above and solve all your problem on building a successful network marketing team.All can be done without going out of your house!