Network marketing, multi-level marketing (MLM) or direct selling is a popular business scheme, not only in the Philippines, but also in other parts of the world. This kind of business can be done part-time or full-time. Whether you’re young or old, a professional or still a student, network marketing can be a lucrative business for you if done the right way. If you want to achieve success in MLM or network marketing, here are 10 tips to succeed in this industry.
1. Choose the right company. Make sure that the MLM company you are joining is a legitimate one. Check out if it is duly registered and have all the necessary legal requirements to do business in your place or country. In the Philippines, a legitimate business should have a certificate of registration with the Securities of Exchange Commission (SEC) if it’s a partnership or a corporation, Department of Trade and Industry (DTI) if it’s a sole proprietorship, Mayor’s Business Permit, Bureau of Internet Revenue (BIR), and other applicable registrations when necessary. A legit business should also issue a BIR official receipt or sales invoice every time you pay money for a product or service from them.
2. Choose the right products. Aside from choosing a legitimate MLM company, choose the company that offers products you can really promote. If an MLM company doesn’t have any product at all, and it’s just all about talk, then it’s not a good business. Choose a company with high-quality products that can really help people have a better life. Pick products that you can be confident in promoting and selling it to people.
3. Create a marketing plan. Strategic planning is a vital step in marketing. If you want to be a successful network marketer, then you have to make a game plan. Define your long-term goals, set your specific objectives, and establish your steps and procedures to achieve those goals and objectives.
4. Be the manifestation of the product you are selling. Do not promote or sell products you haven’t used and proven to be useful to you. Make yourself the living evidence that your products are great and effective. If you want to become highly convincing, then you should convince people not only by your words, but also by your actions and way of life. For example, if you’re promoting health products, then you must show to them that you become healthy by using those products. Network marketing is based on word-of-mouth marketing. Make sure that what comes from your mouth is your actual experience in using your products.
5. Practice relationship marketing. Network marketing or multi-level marketing is also based on relationship marketing. Do not expect people to immediately believe and trust your words. You have to be patient in building good relationships with them. The MLM industry is a very competitive one. In order for you to stand out from the crowd, you don’t need to have the loudest promotional words spoken, but you need to have the most sincere words spoken and the deepest relationship built with people whom you are targeting. So make sure that your purpose is making friends and making them happy and not just in making dowlines to increase your income.
6. Respect people. In order to improve your relationship marketing campaign further, show respect to everyone. Be positive in the right way. Do not judge people that they are negative just because they ignored your invitation, but instead be polite, humbly ask an apology for getting their attention, and thank them for listening somehow. Respect is very important in network marketing because it is an important key to building trust and good relationship with other people.
7. Find mentors. Learn from the success of other network marketers. Be passionate in growing your knowledge and wisdom in convincing and influencing people. You can find mentors inside your team. You can also learn by reading books, blogs, articles, and by listening from the different testimonials of other people who have already succeeded in this kind of business. Furthermore, don’t forget to learn from your customers or from your downlines – they often give you the best lessons in business and in life.
8. Guide and coach your downlines. MLM won’t succeed without teamwork. The reason it is called multi-level marketing is because it is based on team building and amalgamating the knowedge, skills and efforts of each team member, including the team leader. If you’re a team leader, make sure you are helping your entire team to move forward and achieve your common goals.
9. Build your personal brand. If you want to convince, influence and recruit more people to join in your networking business, you have to earn authority for yourself. You have to build your personal brand. There are many ways to establish your personal brand. You can build a blog, create social media profiles, contribute articles to related online publications, and other personal branding tactics to establish yourself as a trusted person in your industry. For example, if you’re promoting health products, you can build a health blog with informational content to earn followers. You can also try getting career certifications (e.g. certified dietitian or nutritionist) that are related to health to increase your authority in the health industry.
10. Be socially responsible. Finally, share your blessings. If you are already earning money from your MLM business, give back to people who are in need. Do charity. It is a great proof that your business is really earning and you are indeed making money from it.
I hope you learn something from the list above. If you have any other proven MLM success tips to add, feel free to make a comment below and let’s start a very interesting discussion.