Network marketing opportunities are aplenty and offer you ways for making an income from home or for you to supplement your primary income. It is not easy but if you are wondering if it is something you should take up here are a few things to know to help you decide
1. What is network marketing?
It is taking a product directly to the consumer using independent distributors/salespersons (you). You the distributor or salesperson approach the customer in person (or online) and persuade them to buy the products.
Some products are bought and paid for by you at a whole sale price and then you sell them on at a profit. Or there are others that are a computer applications; that you sell subscriptions for or lead people to a sale or a subscription.
In whichever case you are selling a product on behalf of someone else.
2. What are the products?
The products often cover a large range of cosmetics, skin care, household cleaners, nutritional products, kitchenware, toys, educational products, clothing, accounting software, video games and any number of services.
These products are considered to be basic necessities therefore encouraging repeat purchases but they are also considered to be of superior quality as compared to other products on the market place.
3. Who sets the price?
Generally, the preferred price is the company’s suggested retail price but you too can set the sales price. This form of selling gives the manufacturer an opportunity to not spend huge amounts of money on professional agencies and marketing channels to promote products but to use you to tell others about it. And to sell it!
4. How do you make money?
If someone says that you can get rich without selling a single product you should be suspicious. “In network marketing you persevere or you perish” because you, the salesperson, are expected to go out and find customers to demonstrate the product and eventually to make a sale.
As many products, do not remain on the manufacturer’s shelf for the customer to find but are taken to the customer and sold to them by you the network marketer; you receive an income.
In some cases you can get paid commission when you refer other members into the business (what is called your down line or team). And the bigger your team grows the more income you earn.
5. Where do you conduct business?
Demonstrations are usually in the customer’s home; your home or a public (paid for or free) location or on-line.
The person to person demonstrations are the preferred method of conducting business for many beginners as they give the advantage of building trust and giving your presentations a personal touch. However, you can also upload videos or conduct webinars but you need to make sure that you are well versed with the virtual world and are comfortable in it. You must also have good equipment and a good internet connection.
6. Who can do it?
Network marketing as a sales strategy is based on word of mouth recommendation, that is, people telling people. As a method network marketing is not for everybody because not everyone has the personality, the time or the easy and cheap access to internet to build a network. And building a network can take long; very long!
If you have a large network to mine, are a good speaker, have a pleasant personality, motivated, self-confident, hardworking, creative, resourceful, can lead, a risk taker, energetic and have a good sense of humour-you could do it!