Due to today’s innovation and technology, the network marketing industry has made powerful leaps and bounds. In this chat, we will get things started by first defining the term ‘Network Marketing”…Then we will chat a bit about the myths of network marketing. Who benefits most? Provide a bit of insight, and throw in a few tips and pointers along the way.
Network Marketing Defined?
Network Marketing is a business structure that allows you to incorporate your own chance at success by working under the umbrella of another company or entity. Whereas, one is given a chance to promote a product or service for a residual profit or commission. It often involves a network or people working as a team to acheive common goals and milestones.
The reason you may hear many refer to it as their own business. Is likely because they see it as a business within a business. People in the network marketing industry may be referred to by various titles. You may hear the terms “Independent Business Owner(IBO), Independent Contractors,Distributors,Consultants, Reps,etc.
Is Network Marketing and MLM The Same
Some people use the term “Network Marketing” interchangeably with the term “MLM” which stands for Multi-Level Marketing. Although, some tend to think they are the same; Some tend to think they are definitely not. But if you ask me, I’ll say they are not quite the same, and there is somewhat a “tinge” of a difference. The fact remains that it is an avenue to earn and build an online/offline income.
First A Bit of History
Back in the day, network marketers were viewed in the general public’s eye by some, as maybe not, one of the best route to achieve success. There were many mis-conceptions by those who refused to see the industry for what it really was. Negative vibes arose, due to the array of myths, a few lousy training platforms, and possibly a few unprofessional companies not on the level. Ofcourse, this certainly didn’t apply to all network marketing companies. Inspite of it all, companies like Avon, Mary Kay, Tupperware, kept it going strong and are yet thriving today .
Now, Let’s Review A Few Popular Myths Concerning The Industry
“Get Rich Over Night”– Personally, I feel this is beyond a myth; This should qualify as a LiE. Very few people if any have been known to strike it rich over night in this industry to my calculations. Sure, it may take time and sorry to burst any bubbles, but work, dedication and to keep at it. This myth was assumingly started back in the day, due to a group of marketers who were evidently doing it all wrong. Miseducation and not adhering to proper business training and the code of ethics and professionalism.
I can so vividly recall back in the day; There were a slew of blind leaders leading the blind, if you know what I mean. There were guys spamming to the “roof tops” that people could get rich quickly…I think I can sum this group of marketers up in one word: “Desperatation”, yes there were lots of un-trained people who were desperate and doing it all wrong.
On the flip, there were also a slew of extremely professional/successful guys, doing all the right things as a great business professionals should…Reaping really great benefits. The down-side of that, was that many of those guys weren’tfrequently, sharing their success secrets for duplication with others. The good thing is, due to the new way of marketing and needed changes, the success rate is much higher today.
I can remember one unique company back in the day that was very successful because their marketing strategy was to genuinely help marketers at any expense, they had really great products, but gave away totally awesome information to help any marketer back then become successful, totally for free. In turn people bought their great products with a heartbeat of love, appreciation and thanks. Wow, they so “got it” even back then.
Remarkably, the errors of yesterday has brought about many valuable lessons, wisdom and successes in today’s market, imagine that. Also, the state of our economy has played a big part in the eye-opening and increasing “respect level” for internet marketing.
“They’re All Pyramids n Scams”– Is a commonly heard cliche …That usually represents a need to understand truths, maybe due to underlying fears, objections, and possibly due to fixed or closed mindsets. A real pyramid is known as selling any type of system that stacks and recruits others without a real product or service, which is not leagl to do. Now let’s view this from another aspect which is pretty much a common concept used in America. The legal pyramid as we know it goes a bit like this infographic below:
What You Really Should Be Concerned About
What’s most important, regardless how you view the structure of a business; Is that you do proper researches on any company. Just like in Corporate America, not all companies are worth the mentioning. But there are some really good ones out there. Well the similar struggles are felt in the network marketing industry. It is so rewarding to properly research for legitimate companies, with great standards (ethics), honesty, needed products/services, good compensation plans, reasonable investment, educational/training platform, personal development and support. The best thing going today, is the ability, to do a thourough search by taking advantage of the search engines, product/service reviews, and consumer reviews,etc…Reviews and testimonials are powerful these days.
Scams– So a business structure is one thing; But a scam or dishonesty falls in a whole new category. It’s quite sad but I don’t feel no line of industry gets eliminated when it comes to “crooks” in the world… Making it harder for the good people out there, to help change the quality of lives for others. You may find them in our government system, some of our top corporate companies, small businesses (brick/mortar)…It’s not just in mlm or network marketing, the list goes on and on. However, if you spot a illegal scheme or scam, you can report it to the America Trade Commission (FTC), that protects consumers. “Truthfully” Report, Report and Expose all negative experiences to help others…one of the best ways to pull the line on schemers.
News Flash: Net Work Marketing Is NoT For Everyone
So if you love the idea of network marketing, that’s great…But let the truth be told, not everyone will fall in this niche to love and appreciate network marketing. Not everyone will even qualify to work in this industry. The best rule of thumb to remember is that “everything is not for everyone” it’s more sensible to niche the market. Let’s back up, that word “qualify” is a little but big word when it comes to network marketing.
The best tip I can think to give a leader who is open to networking and helping prospective partners…Is to niche market to those, who already have some sort of knowledge or experience in the network marketing industy. That way you can eliminate hearing the two major objections I’ve fore-mentioned. Prospects will fall in a marketing niche (group) of those who already possibly understand the nature of your industry. That in turn, will make your prospecting a bit easier.
Where You May BenefiT…Or Where to Mingle With Others
Gone are the days where you try to mingle with those who could care less about your interest. In today’s market, it’s a whole new world. It really is what it is…”Network Marketing” means networking with others. The “networking” part of it is absolutley taken serious; The getting to know others through a genuine heart, patience and persistence is where it’s at.
Therefore, it may benefit you to mingle in the groups and communities with those who have a love for network marketing, direct sales in relation to residuals, referral marketing, or affiliate marketing. You can find many niche groups of this particular interest on your facebook, twitter, pininterest, Google Communities or Linkedin groups even. LinkedIn has changed since “back in the day” and have tons and tons of interesting network marketing groups there. Then there’s wahm.com forums, a really awesome place for network marketers to hang out.
One last thing, to keep in mind is that a network marketer will definitely need the right mindset, preferrably one that is positive and of growth. Network marketing is a journey, that will require certain qualities and traits to maintain and/or develop to survive the challenges involved. As with most things worth having in life; There maybe mountains and hills to climb. But with persistence, dedication, the right training, effective/productive work, and faith…The climbing should be well worth it.
“A Penny 4 Your Thoughts”
So What Are Your Thoughts Concerning Network Markekting?
- How Would You Say Network Marketing Is Differnet From MLM?
- What Are Your Biggest Network Marketing Challenges?
- What Tips Would You Bring To “The Table” For Newbies?
- Is The “New School” Better In Terms Of Marketing?