Many people have being asking me what is network marketing? Can network marketing make someone a millionaire instantly? How do I join a network marketing company? Well, if you are part of the people that ask such question online, just sit down, relax and continue reading, because in this post I am going explain everything you need to know about network marketing. Before we continue, let us look at the meaning of network marketing.
Network marketing is a business model that depends upon a network of distributors who work together as partner for the growth of a product. Network marketing is sometimes referred to as a multilevel marketing. Network marketing is a direct selling method that features independent agents that make up a distribution network who work together for the purpose of promoting a goods and services and also sharing with one another the opportunity and benefit of the product which they are promoting.
In network marketing, the people that make up the top tier of a distribution network are also encouraged to build and manage their own networks of salespeople, who then work to recruit more people into their own team and grow the network. Each network creator sometimes called an upline earns a commission on their sales revenue, as well as on the sales revenue of the network they have created, otherwise known as downline.
The key success to network marketing is not on the product, but on the network you are able to build. So to become a millionaire in network marketing, you need to forget about the product and focus on recruiting more people to your team to build your army of network distributors, who will help you to share the products to their friends and families and even recruit more people to your team and increase your revenue.
There are many examples of reputable network marketing operations, though some have been criticized of being pyramid schemes and have been banned in some countries as a conduit for consumer fraud. Before choosing a network marketing company to join, you must research their track record, history, success story and confirm if the network company you wish to join is sustainable. You have to check whether if they have resources in growing their team of distributors.
The network marketing company that has stayed longer on earth and has good financial background is more preferable than a network marketing company that is still in it formation stage or just starting out. You have to be careful while choosing a network marketing company and make sure you research extensively before you make your final decision on which network marketing company to choose from.
Network marketing is considered by many to be a form of direct selling, which is the person-to-person sale of goods or services. It utilizes a few different strategies to generate commission payments. Generating commission payment is based on recruitment, lead generation and management. Network marketing may be referred to a variety of names, which include multilevel marketing, cellular marketing, affiliate marketing, consumer direct marketing, referral marketing, pyramid selling, or home-based business franchising.
When evaluating network marketing companies it makes sense to consider how many tiers there are, as that can dictate how affiliated individuals earn money. In a single-tier, participants are paid based on the direct sales they send to a merchant or traffic driven to an affiliate’s website also known as lead generation and may be measured in pay-per-lead or pay-per-click. Example is Google Adsense and Amazon Affiliate Marketing.
In a two-tier, participants are paid based on the direct traffic or sales they refer to a merchant or its site, as well as the direct traffic or sales generated by the affiliates who joined the affiliate program via their recommendation. Example is GNLD. While the multi-tier work the same as two-tier but may extend to several more tiers, each kicking back a portion of their commission to the original participant.
Network marketing can make you a millionaire once you know how to do it. In a two-tier network marketing company like GNLD, remember it is not all about selling products but recruiting people. Many newbie into the network marketing industry that chose GNLD or any other two-tier network marketing company thinks that selling huge number of products is the key to success. Well, I call that ignorant of diplomacy. Selling huge number of products will not make you successful in a two-tier network marketing; the only secret to success in a two-tier network marketing is recruiting more people into your team. Unless you opt in for a one-tier network marketing company like Amazon Affiliate which requires selling products directly.
While on a two-tier network marketing company, instead of focusing on products sales, it is more advisable to focus on recruiting people into your team, who will then recruit more people into your team and expand your network. Each member in your team can easily share your products to their friends and family without any stress.
There is some stigma attached to networking marketing, especially with regard to multi-tier and multilevel structures, which attract pyramid schemes. Still, the appeal of network marketing is that an individual with little skill but a lot of energy can create a profitable business for themselves with little monetary investment.
A single-tier network marketing operations tend to be more reputable, but two-tier or multi-tier schemes in which people make money based on the number of distributors they recruit rather than self-generated sales can be problematic sometimes, due to the fact that it is very difficult to convince people to join you in network marketing. And to recruit someone into your team you need to convince that person and give them reasons why they should join your team.
Some reputable examples of single-tier network marketing operations as I have mentioned earlier are Google Adsense, Amazon Affiliate, Avon, Mary Kay and Excel Communications, amongst others. If you are choosing single-tier network marketing, then you should be prepared to sell large number products to make profit. But if you are choosing two-tier or multi-tier network marketing, then you should be prepared to recruit a large number of people to your team to make profit.
When evaluating a network marketing operation and thinking of the type of network marketing to join, you have to consider these following questions:
First, ask yourself, is the chance of making money in this network marketing based on selling products or by recruiting others? Who is at the top of a network (the upline)? Are they willing to divulge how much they are paid? What is the track record of the company’s founders? Are you and your upline enthusiastic about their products? Would you be willing to buy them? Do you know anyone who would? Can you sell them? Can you quickly make a profit from selling their products? Can you see a relatively fast pathway to profits or will it take a long time to make money? How is the product being promoted? Does it seem unique and well marketed? Do you have the right to advertise it as you see fit?
After asking yourself the questions above, find out time to sit down and think of the answers. The answers will convince you whether to join or not. Network marketing has really made a lot of people millionaires and even billionaires. It all depends on the model you choose and how experience you are in the business. If you choose the wrong model it will take you years to become successful, but if you choose the right model you can become successful in few months or even within a year. Network marketing is a serious way of making passive income on your own terms and for those who will want to venture in network marketing I recommend you to get the book The Business of the 21st Century by Robert Kiyosaki and read it thoroughly, because it will guide you on how to get started with network marketing and everything you need to know about network marketing.
Wow guys we are done. With this information I sincerely believe you have learned what network marketing is all about. If you have more information on what is network marketing and wish to share to people to learn from, your comment is highly appreciated. If you love this post please take few minutes and share it to your social media accounts.
- Top 5 Highest Paid Actresses In Ghana - July 3, 2020
- Top 5 Highest Paid Actors In Ghana - July 2, 2020
- 8 Real Facts About Frederick Leonard You Probably Didn’t Know - June 30, 2020