Home Business Ideas and Opportunities

Tag Archives | Network Marketing

Network Marketing Opportunities

Network marketing opportunities might fall under several different business models. For example, there are sales distributorships, aka independent consultants that sell tangible products. This is probably the most well-known and there are a number of very successful mega-billion dollar corporations that are ‘household words’.

networking

Encompassing both tangibles and intangibles, there are also multi-level marketing (MLM) businesses, which include many different online affiliate marketing programs. With this model people may earn money for referrals as well as by selling the product or service of the company to earn commissions.

The principal difference in the two business models above is that the distributorships focus on selling products, whereas MLM and affiliate marketing programs focus mainly on the business opportunity (referrals). Of course these referrals are made easier if the company has quality products and services and has a good reputation as a profitable opportunity for affiliates.

Participants in most network marketing opportunities are considered to be self-employed. This is an ideal situation because they can work for as many different companies as they prefer. The ‘multiple streams of income’ concept works very nicely in any case. Mainly this is due to the fact that there is no limit to how much money they can earn as there would be with an employee’s ‘salary’ or ‘wages’.

The other major reason having multiple streams of income is a very wise way to build a business, is that there can be a balance where if one company has slow sales for any period of time, it is not as detrimental to the bottom line in that the other companies may be doing fine or better.

Additionally, they do well with the concept of ‘multiple streams of income’ because you can technically earn money in multiple ways within each individual organization. With MLM and affiliate programs you can earn money from referrals as well as from selling the products. As you get more sophisticated you could actually have separate advertising that focuses on either.

With regard to any network marketing opportunities, take advantage of your associations in the various networks and use them wisely. You can “cross-promote” in your own organization or network by ‘back-end’ and ‘OTO’ (one-time-only) sales to your existing clients. That is once a customer buys your products or agrees to participate in a business opportunity you can invite them to follow you into some of your other opportunities.

Networking is always going to emphasize building relationships with people. Get to know your prospects and existing customers. Don’t ever be accused of ‘taking the money and run’ where they will say ‘I was very important until they got my money and now they have disappeared. I can’t get any help and at this point I just want a refund’. Stay in touch.

0

Network Marketing Leads

To begin with, the least effective way to get good network marketing leads is to buy them, with few exceptions. Buying leads has a poor ROI (return on investment). For the most part they are all but useless, however if money is not an issue for you, then you might be able to get a sale or two from the bunch.

network marketing

The truth is whoever is selling you the leads may honestly say they are ‘fresh’, because they themselves just purchased them. The fact is that they have no way to know exactly how old the list may be that the leads came from. They may have been regurgitated literally hundreds of times over the years.

This explains why the vast majority of ‘leads’ will be unresponsive. If you do get a chance to reach them at all, they will very likely not recognize your name, your opportunity, or understand why you are contacting them. Some may be quite irritated if they have been contacted too many times.

So how did they get on the list in the first place even if it was years ago? One theory is that they may have been ‘interested’ only in a very abstract way. Perhaps at some time in the past they inquired about a related matter and their contact information was captured. Since then they have moved on and forgotten they ever heard of the opportunity. In any case more than likely, they are not interested in what you have to offer.

Having to first convince someone they requested information they don’t remember asking for is not the best environment to begin a relationship. It would be much more productive to spend your time contacting people who have “opted-in” very recently and have first-hand knowledge of you or your company.

The best of all possible scenarios is that they are interested in what you have to offer and are contacting you to get more information with the definite purpose of taking action. Now the dynamic is very different. Instead of you trying to convince them, you will simply be providing them with the information they requested. Big difference.

The definition of “networking” is ‘to be known without having an agenda’. This says that it would be very wise to participate in various activities where you can be known and get to know others. You can share your knowledge without trying to sell anybody anything and then watch them come to you for more. This is the best way to get really good network marketing leads.

Social networking and online business forums are two very popular venues where you could get to know others. Both of these avenues gives you an opportunity to build a relationship of trust and respect and eventually to discreetly introduce the possibility of a business transaction. It is highly likely that someone will be more approachable and open-minded to someone they trust as opposed to a stranger who is pushing something.

Less personal but still attracting interested people with a pulse, are lead capture ‘portals’. For example web forms that offer a free newsletter or report in exchange for providing your email address. You build the relationship through your communications and over time the leads may take action and you will generate a sale.

0
Home Business Ideas and Opportunities

Powered by Plug-In Profit Site

Plug-In Profit Site