Multi-level marketing has been seen by many as the best way to make huge fortunes with a minimum of effort.
But there are also those who are completely at odds to such claims and are of the opinion that such business practices are no more than scams and one should steer clear of them.
However, to sensibly address the issue we should try and strike a balance between these two arguments and take a line in between.
Multi-level marketing, or MLM as it is more popularly known, involves a lot of hard work. It is definitely not a bed of roses.
And you need to invest a significant amount of time on your business. The returns are however not great, at least not initially.
As any other network marketing business, MLM requires a practitioner to invest a lot of time. The initial few months or a year is generally spent on building your network and gaining the trust of the members in your network.
Once you have crossed this initial hurdle you can expect better returns. If we put the things in figures, we can say that a very experienced man with a very good network can earn about 1000 a month initially from an MLM business. So don’t expect anything miraculous.
MLM business has attracted a lot of fraudulent companies to the scene. Make sure you stay clear of them.
If you are willing to research the companies and are generally aware of the scams that are doing the rounds in the business, you’ll know to differentiate between the genuine and the fake.
Make sure you are associated with one of the best MLM companies as this will ensure better training facilities and a much more developed support base.
There are a few other basic things that you can practice to boost your MLM business.
1. Always work on those leads that have shown interest in your product. Invest your time and resources on them. It makes more sense to follow your warm lists as opposed to chasing the people in the cold lists.
People who have shown no interest in your product in all their probabilities wouldn’t change their mind. So don’t waste your time and money on them.
- 2. When you have a prospect treats him with the utmost care. You are just one step away from converting him to a customer.
Make sure he has nothing to complain about. Always follow up on the prospects and be up to date with your replies to any of their queries.
- 3. When you are sending your brochures and other correspondence materials to the members in your warm list do not just try and put in everything that fits inside the envelope and won’t cost you any extra postage.
This can cause you to lose one of your potential customers. Instead, address his specific queries and send him literature only of those products about which he had shown some interest.
- 4. Patience is the key for a network marketing business. The rewards are good but you will have to wait for them. They are not instantaneous. In this kind of business, you don’t need to have huge capital. But you sure need to know how to wait for your time to come.
