BusinessTalk: Network Marketing
This is a marketing strategy where the compensation of the sales force is not only from the sales they generate but also from the sales of other sales people they recruit. “Downline” is what they call for the recruited sales force that can recruit also other potential sales people and provide multiple levels of compensation. Network Marketing is also known as pyramid selling, multi-level marketing and referral marketing. Selling is done commonly by the sales people to consumers through direct selling by means of word of mouth and relationship referral.
Why Companies Need to Market their Products or Services thru Network?
Today, this kind of marketing strategies covers almost everything about products and services that
company offers you to market them such as nutritional products, beauty products, weight loss program, financial programs, communication services, electrical power, and internet access to name a few.
Companies spends millions of dollars to market them directly simply because they want access to your network and the network of people you have like family, friends will do the job of direct selling through word of mouth marketing that is far effective than other method of marketing where talking and presenting the products or services personally to the clients is more convincing especially if the person is known to be trust worthy.
How Does It Work?
Network marketing is not about the more people you recruit, but is about the more compensation and
commission you will get. It is highly important to understand that this marketing strategy has a system to follow. Learning the system or the method plus your skill and ability will help you determine the interested people in the product or service that your company offers and potential sales people that you can add to the network to promote and market your company.
Network Marketing is good for those people who want to help others. If you enter the business world while just thinking about the money, this kind of thought in most cases will cause you to fail. By entering and starting your business, you need to love the product or services that your company offers and help each one in your network to keep it working. This way, success will come on your way.
What Is Good About Network Marketing?
One of the good thing about network marketing is that they can market and sale the products or
services offered by the company anywhere unlike other marketing strategies of other companies that
they assigned a group of sales representative in a specific place where they can only market exclusively the product and services there.
Another good thing about this is that by entering the business, you don’t have working hours to be followed and you can do the business even you are currently employed. You can make it as your part time job while learning the business through listening to seminars and undergoing training with your team in your network. As you learned the system of the business, you will also improve you communication and interpersonal skills by dealing with your clients and downlines.