4 Examples of MLM and Multi Level Marketing
When you hear the word network marketing, the first thing you usually think about is a bunch of people getting together to collect products and then separating to sell those products for a certain source that has the products in their inventory. Of course, this is a very basic idea about network marketing. There is actually more to it than you may think and you may be missing out on a very good opportunity if you are not using your skills to try your hand out at MLM activities.
Selling – When it comes to network marketing, you need to understand that you are not setting up a store where customers walk in and look for products that they like. You are direct selling certain products to the customers so that they can buy the products off of you. This means that you need to have a certain talent for selling. But beyond that, you are also creating a relationship with that customer so that you can encourage repeat sales. By maintaining customer trust, you are not only creating a market for a certain product, you are also maintaining that market so that they will always buy products from you or from people in your network.
You are branding yourself – Bouncing off the idea of direct selling, you must also keep in mind that is all about how you brand yourself. You need to show customers that you are a person who can be trusted when it comes to certain products. You are representing a certain network as a person part of a down line and that means that when you sell your image to people, you are selling that network's image as well. You need to come off as a person or a brand that sells quality products and also offers great support service as well. This business should not be mistaken as just another opportunity to become a door to door salesman.
You are winning from commissions – As you are selling a certain product, the money that you get is not the money that will go straight to your pocket. The products come from a company that expects the costs for their products to be reconciled. Any profit that they make is then shared to the network that you are in. This share that you get is your commission for selling the product and this can vary through different networks. The great thing is that if you have a down line (or people people who work in your own network with you being the up line) and they sell products successfully, you will also receive a part of the commissions that they make.
It's a lot of work – This business is exactly what it says: multi level. This means that there are a lot of people involved and you will have a responsibility to maintain a certain image that everyone else is maintaining as well for a certain network. You will rely on one another so that you can make a good living out of the decisions. And therefore, this is a lot of hard work but it does not eat away too much of your time as a regular job would.