This Blog is about How to Make Money Online. Learn which are the best programs, in my opinion. Learn how to build your team and coach them to build their own teams! At the end of the day it is your team that will earn you real money on line.
Wednesday, 6 November 2013
How I Made Money On Line: An Insight into Network Marketing
Network marketing is not that different from the shop in the street; it is simply a different type of marketing and distribution channel for the goods or services it offers. When enrolled as a distributor, the distributor becomes part of the marketing arm of that business and when that distributor enrolls others, the marketing and distribution arm also grows. Network Marketing is the Distribution network, the term Multi-level marketing is often used but in reality it actually refers to the compensation plan. But to keep it simple and the way most people think - the names can be inter-changeable. But don't confuse this with Affiliate marketing; it is a different entity and will be covered later.
So with network marketing, not only does the person sell products/services etc direct, they also recruit others into their team. They will then earn revenue from their own sales and that of their team (network). The business compensation plan will determine how many levels "down" they will be paid. In other words a person may receive some payment from not only their team but also from their teams team; or their teams, teams team and so on (the Multi-level) .
So what distinguishes it from: A Pyramid Scheme?
There are obvious differences between network marketing and "standard distribution modals - probably the ones that motivate people to get involved in network marketing rather than having a "physical business": No large overheads; Not having to carry large amounts of stock; No staffing worries, the list is endless.
One thing both will have in common and should be right at the top of the list of things that must be done,is to build a solid customer base. People who do not buy once from the business but again and again.
For the most part, whenever someone starts out in network marketing the same old approach is used to build a "down Line" - make a list of all friends and family and make contact; then ask for potential leads. Its a tried and tested route that rarely works.
Why? Because those leads are simply friends and family and do not have the same network marketing instincts or interest. More often than not, if it does work, it is short lived and does not contribute to building a strong "down line".
So the trick is to find like mind motivated people, people who are serious about network marketing and building an on line business and a substantial income.
Are you Serious about building a solid team of people? Find out how!
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