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How to succeed in network marketing

How to succeed in network marketing
Written by Banani Chakraborty

How to succeed in network marketing is an alarming question. A lot of people join network marketing. It has several professional appeals. At first, you are your boss. Secondly, you can do it part-time. Besides, it is easy to start. Most importantly, you can earn name, fame and financial freedom. Due to its various advantages, people join here in numbers.

To tell the truth, maximum people join here whimsically. Therefore, they have no schedule goal. Generally, some known person comes to offer this network marketing. They insist on joining. But, they do not know how to succeed in network marketing. It is easy to join network marketing. It is even easier to leave it. Therefore, the success rate is very poor.

How to succeed in network marketing?

success in network marketing

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To begin with, you can choose this lucrative career. Here, you will get two types of income. One is the retail profit or income. Another is earnings from your network. This income is very lucrative. At first, your life-time goal setting is very vital.

They may be travelling to beautiful places in India with their love and relationship. Furthermore, you can tour with your children. This will play an ideal parent’s role in child development. [The places are like

Similarly, savings is important in everyone’s life irrespective of income. Therefore, the followings may help you a lot.

How to find the right company?

The first step for how to succeed in network marketing is to find the right company. There are so many network marketing companies. Finding the most suitable company for you is extremely important. The first effective step towards the success of network marketing is to choose the right company. For this do the followings.

1.Search genuine MLM company:

There are several MLM companies which are not genuine. They do not properly follow the prescribed rules of the country. In India, joining MLM company is free. After joining you will purchase products at your will. The company cannot bind you to take certain products as joining kit or first purchase. Finding a genuine company is the first vital step towards how to succeed in network marketing.

Moreover, there are a lot of companies that sell money products to distributors than to the public. Some companies make money by recruiting members instead of selling products. These type of companies also allow multiple joining against a single name. Some companies sell products or services only for eyewash.

2.Investigate companies profile:

In the first place, search all the available details of the companies. It is the all necessary first step towards how to succeed in network marketing. Try to get the answers to the followings.

  • At first, find the inaugural date of the company. It will say how long the company is running.
  • Secondly, find the company’s turnover. See, whether it is rising or falling.
  • Additionally, see the reviews regarding the company’s general reputation.
  • Whether it is a national company or international.
  • It’s the position in the national market as well as the international market.

If you search the internet, then you can easily accumulate these answers.  Now, choose which company will be suitable for you.

3.People behind the company:

If you want to know how to succeed in network marketing, then this is a big issue. Always learn the details of the company CEO, MD or CMD. At the same time other people associated with the management. Try to gather all the possible and related information regarding them.

Whether there is any law issue regarding the company or overall management. Also, try to find the same in their personal life. Is there any sort of scam? The leaders, as well as the management, always abide by the law.

If there is no issue, then you can choose the company.

4.Investigate the company’s product:

Company may sell products or services or both. This is another vital step towards how to succeed in network marketing. You have to find the following answers:

  • Product quality as well as price. Is it fair according to quality?
  • Are the products safe? As you will sell the products to your known circle, therefore they need to be safe.
  • You will sell the products to your known circle. You will decide whether your circle will accept it or not.
  • Certifications of the products. These certificates will also give you some idea regarding product quality and safety.
  • Do the company have its legitimate research team or wing?
  • How does management think about quality control?
  • Finally, will you and your family use these products?

If all the above answers satisfy you, then you may proceed further. Products will play a key role in how to succeed in network marketing.

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5.Investigate career or income structure:

Different companies provide their career structure. All are different. At first, you write down the income opportunities of the companies. Choose which company’s income structure is attracting you. How to succeed in network marketing depends heavily upon choosing the best income providing company.

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All the above 5 steps will help you to select the most suitable company for you. But, before joining check the following two points.

6. Ask your ‘up line’ or sponsor:

The above steps will help you to find the best company for you. Next, you need to choose your ‘up line’ or sponsor. For that, you shall ask him some questions.

Another vital point towards how to succeed in network marketing is to question your ‘up line’. Generally, your known person meets you with a network marketing proposal. However, you may directly visit the company office and choose your ‘up line’ or sponsor.

In both cases, choosing ‘up line’ or sponsor is extremely vital. You should know his moto, his target, his knowledge regarding company profile, product and plan. Also, know what he is wanting from you? Moreover, know-how he is doing here. If you have any doubt, then ask for clarification.

Mind one thing, your sponsor can give you the best guidance along with necessary support. Generally, it is seen that a good guide can bring out your best performance.

7. Read the contract form:

Before signing any form read it carefully. Nowadays, companies are making online joining instead of filling forms. Read all the terms and conditions carefully. Know all the pros and cons before joining.

If you think, then you may consult about the legitimacy of the company with the experts.

How to start your journey at a network company?

This is another important step if you want to know how to succeed in network marketing. You have to start in such a way that you must get success.

1.Draw up your action plan:

As you joined a network marketing company, so you need to take some actions immediately.

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At first, set your action plan.

  • Set your weekly time chart.
  • How many hours will you dedicate daily? Will you build your career in part-time or full time?
  • Know the products in details. Select a few products that you will approach first.
  • Settle monthly selling amount. Selling amount includes your personal use also.
  • Set your goals. Are you looking for some extra-income or enjoy financial freedom?
  • If you are looking for financial freedom, then fix your achievement after one year, three years and five years.
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2. Prepare your name list:

Your name list is another crucial factor in how to succeed in network marketing. Always follow the ‘FRIENDS’ formula.

  • ‘F’ stands for close family members.
  • ‘R’ stands for all the relatives.
  • ‘I’ stand for institutional.
  • ‘E’ stands for the employment sector. If you are an employed person, then list the name of everyone.
  • ‘N’ stands for neighbours.
  • ‘D’ stands for delegates.
  • ‘S’ stands for strangers.

If you do not know anyone’s name, then try some ‘nickname’ to identify them. Later when you meet, ask his name and write in your name list. You must not pre-judge any person. You must not avoid any-name. Daily give some time to build it because you cannot prepare it in a single setting. Besides, strangers will increase daily as you meet a lot of people daily.

Try to arrange them in the following categories. How to succeed in network marketing depends on the successful preparation of the name list.

  • ‘A’ means very well-known.
  • ‘B’ means well-known.
  • ‘C’ means somehow known.
  • ‘D’ means little-known.

If possible, write their tentative age as well as their income. Also, try to write down their area of living. A few people in your list are highly ambitious. If you know them, then note it down.

You must remember that your career depends on this list. The bigger the list, the more your achievement.

3. Find the right mentor:

Generally, your sponsor is your initial mentor. He will guide you in all aspects in your starting days. He will always guide you properly. You will get him always when you need him or his assistance. If he cannot attend you, then he will arrange some from the ‘up line’ associates for your assistance. In case, your sponsor cannot satisfy you, find a suitable mentor from your ‘up line’ associates.

If you want to know how to succeed in network marketing, then your mentor will help you to reach your destination.

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4. Study your products very well:

You need knowledge regarding the products of your company. Your success depends heavily upon it. At first, you will use them at your home. Then you need to sell the products. Initially, more sell ensures more income.

If you have vivid knowledge, then you can explain to your customers the quality as well as the utility. Besides, you can answer all the questions of a customer. As a result, your sell will increase.

Added to this, you share your product knowledge in your team. This knowledge helps your ‘down line’ associates to sell more and earn more.

5. Attend company meetings and training:

This is another vital step towards how to succeed in network marketing. Attend all possible product training, meetings as well as seminars. Never miss any big event organized by the company. These programs will always help you to learn new skills and experiences. Therefore, it will help to enhance your knowledge.

Always remember more learning means more earnings. You will never miss any product training, meetings, seminars along with big events.

6.Maintain company dress code:

If you want to know how to succeed in network marketing, then always try to maintain a dress code. Many companies have their dress code. Otherwise, always wear smart looking for dresses. If possible, then use a tie. Also, keep your visiting card with you.

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7. Build new leads:

New leads mean potential customers. If you want to earn more and more money, then you have to find new leads. There are several ways of building new leads.

  • You may use social media to build new leads. At first, register in all the popular social media like Facebook, LinkedIn, Instagram, twitter, telegram, what’s an app, etc. Now create a page for your company in all these social media sites. Also, update them regularly. Answer if there is any query. If you can handle social media properly, then it is capable to generate buzz for your product. This is the cheapest way to manifold your business.
  • Next, create a youtube channel. Post videos regularly for various products.
  • Besides, you may purchase advertisement space both online as well as offline.
  • Moreover, personal interaction is very helpful.
  • Cold calling is also very popular to generate new leads. Although it is old fashioned, still it is very effective.

8. Follow up with all leads: 

This is another important step towards how to succeed in network marketing. You must try to turn all the leads into your customer. Therefore, you need to follow up with them.

  • Attend all your leads.
  • Prepare your sales pitch before contacting a lead.
  • Try to turn a lead into a potential customer. If you fail in your first try, then you may call him/her later. Because the first ‘no’ is not the last ‘no’. He/she may change later. But remember one thing that you will not overdo or embarrass them. It will ultimately harm your business.
  • You may set up an autoresponder on your web page. It will enable you to contact them who visit your social media page.
  • Create an organized file to accomplish all your contacts in such order so that you can easily access all their information.
  • You may directly supply them. Otherwise, you may use your ‘down lines’ to sell them products.
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How to build your network?

Your main aim is to develop a network of ‘down lines’ or build a good team. Your lump sum earning will entirely depend on your team. You need around 10-16 lines excluding binary plan.

1.Join new members:

After your joining, you need to join around 6 direct ‘down lines’. But try to sponsor only ambitious people. They will do business with you for at least 1-3 years. They will use all the company products for their personal and household use. Moreover, they will sell some products. Try to ensure that your active team members normally purchase per month. The purchase amount needs to be at least Rs. 1000/- to 3000/-. Further, they will develop their network or ‘down lines’ or team.

You have to find such persons. This is perhaps the most vital for how to succeed in network marketing. If you do not get such a person, then let them stay as a customer.

If you have more joining, then place them below your ‘down lines’. You will get them either from your leads or from your name list.

2.Mentor your ‘downlines’ effectively:

This is another very important step for how to succeed in network marketing. Your business will depend entirely upon your downlines. Therefore, you have to mentor them effectively. Educate them regarding the product so that they can effectively sale the products. Train them so that they can show the plan. At the same time, they can successfully close the ‘plan show’.

If necessary, stay with them to give them confidence as well as mental support. Always appreciate your downline. The best way is to constantly keep in touch with them during the first seven to fifteen days. This is the most vital period for mentoring your ‘down lines’.

3.Ensure company’s paycheque from the very first month:

This is very vital if you want to know how to succeed in network marketing. Suppose, you have joined a ‘down line’. Ensure his payment from the company. Generally, companies directly transfer the income of their associates into their savings account. Help him/her to earn over Rs. 10000/- per month within 6-12 months of joining.

4.Arrange group meetings:

As your team grows bigger, you cannot mentor them individually. Therefore, you need to arrange group meetings. This is the most effective way of how to succeed in network marketing. Without group meetings, you will never get success in network marketing. At first, you will take group meetings. You need 2-4 group meetings in a month. Then your ‘down lines’ will arrange them. Thereafter, their ‘down line’ and so on.

With the increase of group meeting in your downlines, the income of the entire team will go up.

If you can do the above steps successfully, then you will earn a lot. At the same time, you help others to earn more income than their expectations. Your self-esteem will better day-by-day not only to your team members but also to their family members. This will give you ample happiness.

Hope how to succeed in network marketing will help you a great deal to be a successful networker. Moreover, you can live life to the fullest.

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About the author

Banani Chakraborty

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