By now, you’ve probably heard of network marketing. It’s also called direct sales and multi-level marketing.
More than 6 million Americans are direct sellers. In 2018, they served more than 36.6 million customers. According to statistics released by the Direct Sales Association, direct retail sales surpassed $35 billion in 2018, up from $29.6 billion in 2008. What’s made network marketing so popular?
Well, network marketing offers you the opportunity to take charge of your career, work for yourself, and earn both active and passive income. But how do you succeed in this growing industry? What are the keys to success?
5 Network Marketing Tips for Success
While the path you take in launching and growing your network marketing business needs to reflect your values, skills, and individual goals, some tips are universal across different businesses, industries, and professional skill sets. Here are our 5 network marketing tips for success.
1.Pick the right business
You’ve got to believe in the product or service. When you do, your authenticity and enthusiasm will just flow—making it much easier to promote your business and grow sales. Passion about your product or service goes a long way in helping you find the energy and stamina to establish, build, and maintain your business through all its cycles – from the revenue-rich cycles to your business’ lean times.
2.Grow your business by asking for help
You know a lot of people. You know neighbours. You know friends that share your hobbies. You know social media friends. And all those friends know friends too. When you launch into network marketing, the key is to start networking. Let people know what you’re doing. Ask if they’d like to be part of it. You might be surprised by who’s willing to help.
3. Drop that 9-to-5 perspective
In network marketing, you’re a business owner. Embrace it. Grow your business. Learn your business. Study industry trends. Take advice from sponsors and those who have more experience than you. Inspire others with your professional energy! They’ll be more likely to ally with you. They’ll also be more likely to invest themselves in your vision – to help you grow your business and reach your professional goals.
4. Get good at pitching your business
People are busy. And their attention spans aren’t getting any longer. According to one Microsoft study, the average human attention span shrunk from 12 seconds in 2000 to just 8 in 2013. That’s 1 second less than the average attention span of a goldfish.
You have to be interesting.
Engage with your pitch. Use a hook. Tell people why they should care about what you’re selling. Tell them why they should buy from you.
Schedule time with others to pitch your business. Prepare your presentation so that it’s clear what your network marketing business sells, why it’s such a great idea right now, and how to get into the business.
Focus on the benefits of your business and come prepared to answer questions!
5. No might not mean no
Just because someone says no to your network marketing presentation doesn’t mean that they can’t help you build your business. It might just mean that their role may be as a customer of your products, a provider of testimonials, or maybe even a lead to new affiliates or distributors.
Sometimes, no means ‘no.’ But, it might mean ‘not right now.’ It might also mean that the person can help you in some other ways. The trick is to learn how to read reactions to your pitch and determine the next steps.
Network marketing is a valid career path, promising fulfilment to those who invest their time, their effort, and themselves into chasing success. After all, it’s hard to ignore a rapidly growing industry that generated $35 billion in revenues last year.
When you join the more than 6 million Americans who have launched their own network marketing initiatives, you’ll need all these things—passion for your business, help from your friends and acquaintances, entrepreneurial drive, an effective pitch, and keen business instincts—to launch your business, expand it, and thrive.
It’s worth the effort, though! With time, effort, and maybe even some luck, you will find success and fulfilment in network marketing.