Multi-level marketing (MLM) is a business structure in which a company recruits distributors to sell the company’s products directly to the public. Those distributors also recruit others to sell the products. Some of the world’s largest companies use MLM, also known as direct sales or network marketing, as part of their marketing strategies. Your personal goals and ambition may determine whether your business is a success.
Decide what business success means to you. Some direct sellers want to earn enough money to take a vacation. Others want to build a 6-figure business. Knowing what you want to achieve with your business will help you design a successful business strategy.
Create a schedule for multi-level marketing success. Your schedule should reflect the income level you want to reach and the time you want to commit to your business.
- Dedicate 3 to 10 hours per week to your business, if your goal is to work part-time in direct sales, so you can earn extra money.
- Devote 15 or more hours per week to your business if you intend to recruit others and build a large direct sales business.
Take advantage of the training that your company provides.
- Multi-level marketing companies design training to help you with business success. Most companies provide training in both sales and product knowledge. Training materials may include brochures, manuals or recorded audio and video classes.
- Participate in seminars or training sessions that the company offers. These sessions may be live events or virtual events held via teleconferencing or video conferencing. At these training events, you can learn about new products and the latest business success strategies.
Utilize the professionally designed online and offline sales and marketing tools that your company provides.
Online tools include company-approved websites, email addresses and banners. Offline materials include business cards, brochures, catalogs and sales flyers.
Attend networking events to meet people who may be interested in purchasing your product or in becoming a distributor.
- One of the best ways to achieve multi-level marketing success is to share the products and business opportunity with other people.
- Practice giving a 1- to 2-minute speech about your business. Many networking events give participants time to introduce themselves and their businesses.
- Your speech should include your name, your company name, the types of products you sell and the benefits of the products.
- Ask your employer (the person who recruited you) to help you draft and practice your speech.
Showcase your products and business opportunity by holding events in your home or in the homes of potential distributors.
- With this type of “party plan” marketing, distributors do most of their business through parties. During the party, you should demonstrate the products and describe the business opportunity.
- Make the party a fun gathering with refreshments and games.
Use social networking websites to promote your business. Let your friends and contacts know about your business and ask them to help you meet your goals.
- Hold online parties and business networking events using social networking websites. Direct sellers often find network marketing success in virtual events that allow more people to participate than if they had to attend an event in person.
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