The Network Marketing industry is a great industry, but most people don’t know the sad truth before joining. Most people won’t be able to earn millions in Network Marketing . Network marketing business opportunities can be defined based on a business model called the multi-level marketing. Several Network marketing companies provides addon features like Self replicating websites which is important in affiliate marketing. Here when a user refers a member, each member will get their own website to promote business more effectively to experience their software flexibility and also the next way to generate commissions is for the recruits to share their business opportunities to other people who then repeat the same process and from their activities, they get a small portion of their share of commissions.
This is the general truth that is made known to you on your first contact with your network marketing business opportunities. If you think you’re proceeding to strike it rich within a few months in this business, go ahead. Network Marketing is excellent.Some people are totally unaware of MLM existence, some people have heard of it and admit it a pyramid scheme or scam.. So what is the truth about network marketing?
The common figures that noticed nowadays on the Internet say that 95% of the people engaged in MLM fail. There are many reasons people fail in MLM. They might have been involved in a bad company with a weak compensation plan. The products may not be of good quality or anything special, so there is no value for them. But the reason for failure in MLM and Network Marketing is Giving up !!.
What is Network Marketing?
So what is Network marketing? Network marketing is not an industry. Even MLM, multi-level marketing, Direct Marketing is not an industry. It’s the ethics of marketing. And what is simply marketing? Marketing is particular tactics you use to get the customer’s awareness and also he or she ultimately ends up buying your product.
Why Companies Do Network Marketing?
Since the cost acquisition to get the customer is cheaper. There is no need for a Tv ad and spend $400,000. the only thing you need to do is to have someone else go and sell it, so you can pay more to the field or whatever it is. The only reason why people do network marketing is its cheaper cost to get the consumer.
Common Criticisms of Network Marketing
The saddest thing that most people give up before they really break through. Most people join an organization, struggle hard at it, and see little to no results so they give up. Maybe the organization they joined gave fake promises telling them it would be easy but, it takes time, knowledge, effort and dedication.If you can concentrate on doing something on a daily basis to build your business, you will ultimately break through and make full-time earnings, No business is easy. It’s a wonderful highly profitable business model which takes time, effort and dedication.
- Get rich quick message
This is one that’s very irritating to most people. It’s the idea that you’ll be a millionaire in no time. People don’t like that. It’s dishonest and it’s not something you ought to be doing.
Misrepresentation is when you say things like, “This is the cure for cancer” or claim to cure aging, make everyone happy, Misrepresentation happens very much in the world of network marketing and it gives a bad rep.
- More Focus on Compensation Plan Than on the Product
When the company sells compensation plan before product there arise big problem. It’s got to be product first, then compensation plan. You first have to buy into the product but there are lot of companies who sell compensation plans first. This approach always give industry a bad rep. Follow the rules accordingly only then right people comes.
The Real Truth Behind Network Marketing and MLM
- Few People Make It
Only, one in a hundred makes it in network marketing. Everyone wants to exult that in their company, more people make it. Making it is not making $15 an hour. Making it is not making $100 an hour. Making it is earning a full-time salary where you can actually pay your bills and live off of it. That what we called as making it.
- It’s a Ton of Work
It’s a ton of work! You’re not going to work about 45 hours a week. It’s a lot of work to make it in network marketing and MLM. Network marketing simply got a lot of works. Stop saying it’s easy to become a billionaire, because it’s a lot of work. If you’re thinking about it, you want to do it, you need to work a lot.
- Too Much Overselling
Next, they oversell. There’s way too much overselling. Telling others we have this product better than others or you can easily promote your business through our product faster. This is not the proper way of overselling. If you’re going to do network marketing, tell people it’s a lot of work. However, if you struggle hard, here’s what your life could be like. Presented that way, you will be amazed to see how much more approachable and open people would be versus giving this whole trick on how easy it is.
- Too Little Focus on Customers
Customers are valuable assets for your company. So take care of your customers. Treat them well. Show them a good time.The main problem with network marketing is it’s so focused on reps and selling, that no one focuses on the customers. Always remember “If we don’t take care of our customer’s someone else will. “
- Requires a long term commitment
If you do network marketing business, it’s a 10-year commitment. Reason behind this is because any Network market business you do is a 10-year commitment. So if you’re going to do anything with network marketing, or MLM, follow the 10-year rule. Be patient it will take time to become a successful entrepreneur and a business owner. And if you want to give network marketing a shot, it’s 10 years.
The Benefits of Joining a Network Marketing Company
- Spend Time with Good People
It’s good to be around other people that promote you, they lift you up. It reduces shyness.There are some people that are very shy around other people. It’s good to be around other people by sharing positive aspects of Network Marketing Business because it opens you up. Network marketing will open you up to the business.
- Positive attitude in Business
If you maintain a positive attitude, this will be communicable and those around you will pick up on your positive energy. Everyone in your organization will feel positive and clients will want to do business with you. This, in turn, will lead to you maximizing the performance of your business.
- It Leads to Other Businesses
Network marketing drives into other businesses. You know, if you fail in network marketing, you’re going to at least say, “If I want to gain money, I’ve got to be an entrepreneur.” You may just go become a realtor and make a lot of money as a real estate agent. or go into a completely different business, but you discovered the freedom perspective comes from entrepreneurship through being in network marketing business.
Read more on How to Succeed in Network Marketing Business?
- Improved Public Speaking Skills
Public speaking is very important in Network marketing Business. Every person who is engaged in MLM and MLM Compensation Plans may have to present their opportunity to hundreds of people at a time. If you want to move up, you’ve got to learn how to speak.
- Network Marketing Offers a Positive Environment
Network marketing attracts people and they come in and they stick around because it’s positive and with a positive plan, Setting your Business goals at the forefront of your mind. Even if you are feeling down, make sure you present a positive attitude towards everyone you are dealing with. This let your network market grow with positive environment.
Biggest Problem in Network marketing Business
The majority of people who get involved in network marketing have no basic idea in sales, marketing or any good business practices. What happens when you choose a lot of people who have no idea about sales and marketing is that you get a bunch of people that are clueless.
In this industry, we have a genuine case of the blind leading the blind. So try to choose people who have basic idea in marketing and try to explain what all MLM features are there in marketing product. Hard working people who really do try hard to make the business work for them.
The major problem is they are spending most of their time and money by doing all the wrong things. One of the easiest and rarely overlooked facts that many people miss is that it is easier to avoid doing the wrong things than learning all of the right things to do. so finally comes to the point. Its good if any Network marketing company is providing a MLM SOFTWARE DEMO so that people can try it before going to market.