In this brief guide (call it Network Marketing 101) we’ll cover the three basic elements of successful network marketing.
They are:
- Lead generation: Getting people to buy your product.
- Recruiting: Building your downline by finding people to sponsor.
- Management: Helping your downline stay motivated, become more efficient, attain their goals, etc.
2 Keys to Success in Network Marketing
The third element doesn’t have much to do with lead generation or marketing, so we won’t say anymore about that. But your lead generation skills and marketing knowledge will give you a huge leg up in the network marketing game.
Lead Generation
Obviously your ability to generate leads is going to make or break you in this business. You’ll need to develop a highly optimized funnel (see our free sales funnel template to get started), and develop efficient and effective lead nurturing campaigns (see our guide to lead nurturing for help on this).
You’ll rely on your own network for a lot of your leads, but your ability to achieve a high level of success with this business model will rely on your ability to reach outside of your network for customers.
Network Marketing Recruiting
As with lead generation, you’ll focus on your own network at first. But if that’s all you’ve got, you’re going to stall out eventually. Use the same lead generation know-how that you use to get new customers to bring new people to the business.
If At First You Don’t Succeed…
You may not have much success at first, or you may have some success and then have it taper off. That’s because the network marketing model is very lucrative for people at the top, while the people at the bottom are basically paying a company for the privilege of advertising for them in return for a meager profit.
If you decide that network marketing isn’t for you, use everything you learned from your failed attempt to start your own business.
test