Many wonder WHY MLM representatives combine the internet and network marketing.
Multi-Level Marketing is a $1 billion industry. There are approximately 15,000,000 network marketers in the world today.
Despite what many may think, it is no secret that network marketing works. The downside to the industry is that people claim that most representatives lose money in MLM. The reason for this is representatives:
Combining The Internet and Network Marketing - Spending Money
While these investments are to train and equip the representative in their business, very few representatives see a return on their investment.
People invest money with the intentions of seeing a return. I said in my page Independent Business Person, that if you don't see a return on investment you're spending money instead of investing money.
It is the same concept as if someone borrowed a small business loan to:
If you don't bring in enough money to pay off that loan, eventually you will go out of business. As a result of losing money, you will not see a return on investment.
The only difference in this case is you'll be losing thousands of dollars vs MLM where the amount you lose is very minimal.
MLM companies will train you how to:
MLM companies rarely train you how to:
Combining The Internet and Network Marketing - Employee vs Entrepreneur
It's very rare when representatives are trained to go from an employees mindset to a business owners mindset.
Combining The Internet and Network Marketing - Not Using the Internet
A reason why network marketers decide to lean toward using the Internet to help with their business is:
You hear often that you have to attend training to become successful. This is true because you have to be knowledgeable about your company and the opportunity that you are representing.
However, many representatives go in the hole in their business when they purchase:
A few weeks or months later you realize you’ve spent more than you’ve earned. Then you get discouraged and fall into MLM depression and eventually quit.
One major business tip that business owners realize is that it is good to under promise and over deliver. What you find at many MLM opportunity meetings are testimonies of representatives that have achieved a certain level of success.
It is possible to earn an income with MLM. However, many people are under the impression that it is easy to achieve these results as well. This may prohibit many from treating MLM like a real business.
If you know you invested over $100,000 in a franchise and had to work 90 hour weeks in the beginning in order to see your dreams come true many would do it.
You get the impression from most uplines and leaders that the investment is very minimal to start and you just have to speak to a few people.
In MLM, the business is usually simple . . . but not easy.
Internet Not Allowed
Some MLM companies do not allow their representatives to prospect online. This is because the companies fear that they will represent the company incorrectly. Prospecting online could potentially expand your reach.
By not combining the internet and network marketing to prospect, you could possibly be missing out on hundreds of leads.
Many Network Marketing companies stress to their representatives that they should talk to as many people as possible.
They tell you to get a memory jogger and right down everyone that comes to mind whether it be their family, friends, or associates. The 3-foot rule is also encouraged when you come close to contacting everyone on your warm market list.
90% of network marketing companies also have bonuses put in place to reward you for sponsoring a certain number of representatives within a certain time period. You will hear them say urgency is important.
We know that if you want to reach certain goals that you have in MLM you can’t be sluggish or lazy. However, when SOME people approach everyone with the level of intensity that is suggested it is very challenging to avoid coming across that you want to get rich quick.
Wrong Center of Attention
When you attend the meetings of most network marketing opportunities you may hear them talk about the success of the company. In fact, they may stress on the following features of the company:
These characteristics of the company are very impressive especially when they're positive. When you are introducing your opportunity, the company would have you mention these characteristics of the company to your prospects.
While your prospect would be impressed with the company, chances are that they will only be interested in how your company's products can benefit them in any way shape or form before they think about being a customer or representative.
Many network marketing companies put more emphasis on the value of the company versus the value of the product.
Combining The Internet and Network Marketing - Advantages
The following are the reasons why Network Marketers find the combing the internet and network marketing helpful are:
You literally become independent - If your network marketing company goes out of business, you still have a website bringing in leads that you can still use to generate an income from another source such as:
You also can use your leads for another network marketing company you decide to join in the future.
The Internet works 24 / 7 - Your MLM company tells you that you can get paid when you’re sleeping. Having an online presence allows the internet to work for you while you’re sleeping. Your site does the following:
You wake up to people in your inbox asking you for more information on your product and/or company.
Your online presence reaches the cold market - Once you have contacted everyone on your warm market list, you have to go to the cold market or meet more people and wait to build that trust with them. Your online presence will reach the cold market that is interested in what you have to offer.
Credibility - A proper online presence that is talking about the benefits of your products or service can build your credibility.
As it does this, it will increase the trust that the prospect has for you as an expert in the field of your product or service. As a result, it will break down the barriers and negative reputations that someone associates with MLM.
It will make it that much easier for them to contact you through email or phone call to get their questions answered. When they contact you, this is where your personal skills and knowledge of the company kicks in.
This is why it is STILL important to attend your company’s events to continue getting relevant information from them.
Combining The Internet and Network Marketing - Improved MLM Results
Network Marketing is simple . . . but it is not easy.
Everyone won’t reach the highest position in the company!
Everyone won’t make a 5 figure monthly residual income!
However, many network marketers that chose to have a proper online presence got further than where they were before they used the internet.
There is a saying, “Shoot for the moon, if you miss at least you’ll land among the stars”. Many network marketers who combine the internet and network marketing to help them with their MLM business will say it is like shooting for the moon.
Many haven’t gotten to the highest rank in their company, but most have managed to at least acquire enough leads to get residual income.
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