Network marketing, also known as direct sales, is a growing industry that can be very lucrative for motivated individuals. In 2018 alone, the industry had:
- 6.2 million marketers
- $35.4 billion in sales
- More than 36.6 million customers
It’s not an easy industry. To succeed, you have to be a persuasive salesperson and, in some cases, you need to recruit others to work under you. It takes keen business acumen, tireless motivation, and high-level people skills, but it can be done.
How to Grow in Network Marketing, Step By Step
When you ask yourself how to build a network marketing business quickly, your first instinct might not be to stop and plan. You probably want to keep moving forward no matter what.
While that’s a great instinct, it can also lead to a lot of wasted time and energy. Strategize before you start selling in order to grow your business more efficiently.
Step 1: Determine your target market.
Would you pitch lawn mowing equipment to people who live in apartments? How about motorcycle insurance to senior citizens?
If you’re trying to grow your network marketing business as quickly as possible, chances are you’re pitching to at least a few people who aren’t interested. Avoid wasting your time by researching what your market actually is and how to pitch to it. Ask yourself:
- Who is already buying from me? What do my buyers have in common?
- What demographic does my product, service, or MLM model target?
- What are their values, interests, and lifestyle choices?
- What are the features of my product or service? What problems does it solve?
- What is my price point or expected investment? What kind of income does someone need to afford it?
Once you’ve answered these questions, you can start to figure out what people fall within your target market.
Knowing this will help you decide where and when to pitch for maximum growth. It will also reduce the time you spend on low-potential presentations, letting you use that time to connect with more likely prospects.
Step 2: Schedule and plan your pitches and presentations.
Now that you’ve figured out who your potential customers are, it’s time to start reaching out to that market.
Focus on identifying high-potential customers. Be sure to schedule time every day to mention your product or share your business plan. You should be making at least one formal presentation a week if you’re just starting out, and three to five per week if you’re doing network marketing full-time.
If your business involves growing a team, make sure that some of your weekly presentations are to your existing affiliates or distributors. They drive your business growth and, to do so effectively, they need to develop their skills and product knowledge.
Step 3: Develop a strong base of non-distributor customers.
Any time you get involved in a two-tier or MLM marketing system, you’re selling your company’s products or services, as well as the opportunity for others to get involved in the business.
You’re going to meet people who aren’t interested in becoming affiliates or distributors. Don’t let these customers drop to the bottom of your priority list. They aren’t adding to your own affiliate or distributor networks, but they benefit you in other ways. They can:
- Generate income, often on a consistent basis
- Count toward your qualifying sales volume
- Provide you with customer testimonials
- Refer you to friends and family who are interested in becoming part of your network
Remember that any distributors or affiliates you recruit will need customers. The more buyers you have in your network, the more attractive your business will be when you pitch it to someone.
You can sell to these individuals yourself, or pass them on to your affiliates and distributors, depending on what works best for your business. Just make sure that you don’t let them get away, because they’re the ones who will keep generating sales.
There’s no magic solution for growing an MLM business quickly. You will have to be patient, and you will definitely have to know your business, your market, and the capabilities of your team. Start building your strategy today and get on the road to growth!