Network marketing has become just one of the opportunities which access to a large online community has made possible. Network marketing takes vigorous salesmanship and the ability to effectively connect with the right online communities in order to sell a product.
Most essentially, networking marketing is a business mode that involves person-to-person sales made by independent representatives. This is what makes it different from simply hosting an e-commerce site. The successful network marketer needs to find enough of the right kind of customers among different online communities and then contact them directly.
The Danger of Pyramid Schemes
Network marketing engages with online networking and communities not for the sole purpose of finding customers, but also to find those that can offer help with the business end. Unfortunately, this makes the system particularly prone to developing into a pyramid scheme. The vast majority of network marketing enterprises are legitimate, but the many pyramid schemes out there do come under this classification.
Engaged Media, experts in social media marketing, advise to be aware that pyramid schemes typically work by recruiting as many sales people as possible who then have to pay up front for expensive starter kits. Very often, the focus is much more on recruitment of salespeople and less on the selling of the product itself. By their nature, pyramid schemes are one form of network marketing, and the best way to spot them is to look out for undue focus on sales recruitment as well as the upfront charges for newly recruited salespeople.
Tips for Successful Network Marketing
Nevertheless, network marketing can be a profitable venture and a wonderful way for private individuals to get into business without erecting the whole edifice of an online e-commerce site with a distinct brand identity. Here are some of the best general tips for those looking to get in on network marketing:
Identify Your Top Prospects – And Find Them
With network marketing, it is particularly important to know who to target before doing so either to acquire new customers or people to work with. You need to know who these people are and where they can be found. To find work, it is important to identify your top prospective clients so that you know who to target. Making effective use of networking sites like LinkedIn is a terrific way to conduct this research.
Hold On to Old Colleagues
Over an extended period, your aim is to build up a network of prospective clients which you can turn to at any time. Even when a particular relationship has run its course, it’s important to keep the contact details; this will form part of your network for all future endeavors. Exciting prospects very often come from old clients.
Attend Physical Events
A cornerstone of networking marketing advice is that this world exists offline as well. You should attend network marketing events such as industry conferences, meet-ups, and so on. While you are there, be sure to simply network and not to sell. This is the time to expand that contact list for potential use in the future.
Target the Right Customers
On the one hand, this is the same advice that applies to all business-building. In the context of network marketing however, the right customers are not only those who fit your market niche and would be likely to buy your product or service, but also those with a large online presence who will, in turn, promote your product or service.
Ultimately, network marketing is fully in line with trends in modern technology towards ever-greater connectivity among remote individuals. This is what it relies on and what you should aways keep in mind.