Archive for November, 2008
Network marketing has been around for many years, yet there are still those who are somewhat confused as to what it entails. As such, a clear definition of network marketing is necessary. Essentially, network marketing is a two phase form of sales distribution through independent contractors.
The first phase involves selling products for a company. The second phase involves hiring other independent contractors to create a lucrative sub-network of sellers. For example, a company produces a product such as diet pills and aligns with an independent party to sell the products. The salesman then makes a profit on what he or she sells.
Additionally, the salesman can “hire,” or sponsor others to sell under him and assumes a managerial role over this sales force. Of course, the salesman would also draw an income from the sales derived within his team network. So, in addition to promoting a product, the salesman is also promoting the ability to sell as well. Needless to say, this can prove to be a very lucrative venture!
The utilization of a network greatly aids in the ability to sell. This is because the seller has help from the strength of the brand. That is, if the diet pills prove popular, the salesman can ride that wave of popularity to increased profits. Also, the salesman can benefit from any advertising campaigns the network marketing company invests in.
Additionally, if the salesman is having any difficulties, the network marketing parent company can provide valuable infrastructure assistance in order to support the salesman. This is obviously more preferable than having to go it alone during tough times. So, it goes without saying that network marketing has a host of positives associated with it. This is why it remains so very popular in the modern era.
If you are promoting a network marketing opportunity, then you will need a way to promote it. Obviously, if people do not know you exist then you can’t possibly sell anything. Nor will you be able to amass referral members. As such, promoting your venture is critical for success.
One of the most common ways of promoting a network marketing opportunity is through direct e-mail marketing. This involves sending out “e-mail blasts” either directly promoting a product or the product’s website. But has this method become outdated or is it still viable?
The answer to that question is found in the approach. If you send out countless spam e-mails (as offered by many low cost direct e-mail “blasting” companies) then your chances for success are limited. People generally do not respond to spam e-mails because they have grown numb to them. Overuse has eroded much of mass e-mail marketing’s effectiveness. However, if you use a targeted electronic newsletter approach then the odds of success will increase.
The way this works is that you build up an e-mail list of interested parties. There are a number of ways you can do this and the most common method involves soliciting e-mail addresses for future network marketing opportunity updates and news.
Then, a properly designed e-mail newsletter heralding your business can be composed and sent out periodically to interested parties. Sending out a few thousand of these types of e-mails will benefit a network marketing opportunity far greater than mass mailing millions of “throwaway” e-mails. This is why so many large, billion dollar companies employ the same tactic.
Is there really such a thing as a simple, easy network marketing plan? Well, this is somewhat of a trick question. If by “simple easy network marketing” one is referring to a method of network marketing that requires no effort then it would be safe to say no such creature exists.
However, if one is instead referring to the ability to promote a network marketing business in a relatively cost effective manner then, yes, there are ways to do this.
Of all the ways to cost effectively promote network marketing, the use of social networking sites have significant value. Anyone can create a profile for their network marketing business on a social networking site for free. This profile can then be used as a promotional vehicle and communications hub.
Through the social networking site, one can write promotional blogs, send out news bulletins and amass a huge list of “friends” who may be interested both in your wares as well as becoming members of your sales network. Again, this is all free and the social networking sites actually encourage commercial ventures to create profiles.
If there was one caveat, however, it would be a warning NOT to use the social networking site’s e-mail system to spam other members. This will usually get a profile deleted quickly. But, if you play by the rules you can use a highly trafficked social networking site for your network marketing business. In fact, such a site may prove to be your best resource for potential customers and affiliates.
Simply aligning with an established company and launching a network marketing business is not enough to yield success. There are certain attributes and traits that are needed in order to make the venture lucrative or, at the very least, financially solvent.
Contrary to popular belief, the traits that are necessary are not magical or esoteric. They are simply rooted in a baseline level of common business sense. While there are a multitude of traits one could embody to possess successful network marketing acumen, there are two traits that are paramount to success: effective communication and strong willed commitment.
Effective communication refers to the ability to be clear, concise, persuasive and intelligent in all manners of relaying information. This includes vocal skills, written communications skills and even non-verbal body language. The reason this is important is because if you want to sell you need to be understood.
If there is a lack of clarity regarding what you are promoting then your network marketing business venture will fail. But, clear communicative skills combined with enthusiasm will often translate into success.
While many people profess to have significant drive and desire, they seldom tap into their true potential. In order to succeed in a network marketing business, one needs to realize that it is not a get rich quick scheme or a make money fast opportunity.
Instead, it involves a great deal of commitment for the long haul. There will be ups and downs but if one sticks to it and makes proper management decisions, a network marketing business plan will invariably succeed.