MLM is the acronym for multi-level marketing, a business structure in which a company recruits distributors to sell the company’s products directly to the public. Those distributors also recruit others to sell the products. Some of the world’s largest companies use MLM, also known as direct sales or network marketing, as part of their marketing strategies. Your personal goals and ambition may determine whether your MLM success.
1. Decide what MLM success means to you. Some direct sellers want to earn enough money to take a vacation. Others want to build a 6-figure business. Knowing what you want to achieve with your business will help you design a successful business strategy.
2. Create a schedule for multi-level marketing success. Your schedule should reflect the income level you want to reach and the time you want to commit to your MLM business.
- Dedicate 3 to 10 hours per week to your MLM business if your goal is to work part-time in direct sales so you can earn extra money.
- Devote 15 or more hours per week to your MLM business if you intend to recruit others and build a large direct sales business.
- Multi-level marketing companies design training to help you with MLM success. Most companies provide training in both sales and product knowledge. Training materials may include brochures, manuals or recorded audio and video classes.
- Participate in seminars or training sessions that the company offers. These sessions may be live events or virtual events held via teleconferencing or video conferencing. At these training events, you can learn about new products and the latest MLM success strategies.
5. Attend networking events to meet people who may be interested in purchasing your product or in becoming a distributor.
- One of the best ways to achieve multi-level marketing success is to share the products and business opportunity with other people.
- Practice giving a 1- to 2-minute speech about your business. Many networking events give participants time to introduce themselves and their businesses.
- Your speech should include your name, your company name, the types of products you sell and the benefits of the products.
- Ask your upline (the person who recruited you) to help you draft and practice your speech.
- With this type of “party plan” MLM marketing, distributors do most of their business through parties. During the party, you should demonstrate the products and describe the business opportunity.
- Make the party a fun gathering with refreshments and games.
- Hold online parties and business networking events using social networking websites. Direct sellers often find network marketing success in virtual events that allow more people to participate than if they had to attend an event in person.
When you first begin your MLM business, ask the person who recruited you to help you organize your online and offline events.
- Carefully read the policies, procedures and terms of your agreement with the MLM company. You should understand what types of advertising and marketing you can use to promote your business. Most MLM companies and the law prohibit you from sending unsolicited email to promote your products.
- Although social networking sites are a good place to meet people and promote your business, don’t spend all your time advertising your MLM business. You will alienate your friends and contacts if you come across as a pushy salesperson.
Things You’ll Need
- Training materials
- Business cards
- Sales flyers
- Party games