Networking

Career in network marketing: Top 4 steps to get started

Nancy Jaiswal
Nancy Jaiswal
Posted on 28 Sep 2022
12:13 PM
In the contemporary marketing world, there are many popular network marketing schemes

In the contemporary marketing world, there are many popular network marketing schemes Source: Unsplash

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Summary
Network marketing is a business scheme which relies on person-to-person sales by independent agents working with companies
Network marketing goes by many names, and at times is also referred to as multi-level marketing

Network marketing is a business scheme which relies on person-to-person sales by independent agents working with companies, often working from home. A network marketer may be required to build a network of business partners or salespeople and thereafter generate leads and sales.

In the contemporary marketing world, there are many popular network marketing schemes, out of which some have also been denounced as pyramid schemes. The latter ones, however, focus more on recruiting sellers who may require an upfront payment for expensive starter kits than selling to consumers.

How the scheme works

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Network marketing goes by many names, and at times is also referred to as multi-level marketing (MLM), affiliate marketing, direct-to-consumer marketing, referral marketing, or even home business franchises.

Organisations that follow the network marketing model often create hierarchies of salespeople. To put simply, in this scheme, salespeople are often encouraged to adopt their own sales representative network. The new connections at each new level earn commissions based on their own sales as well as those of people in the sales network that they have created - often referred to as downlines. With constant work and additions, each new tier adds to the network, earning more commissions for connections at both top and middle levels.

How to get started

Step 1: Research the market:

Before starting on your network marketing journey, it's crucial to understand your specific market and industry. As a professional willing to build a career in the field you need to research about the company’s products to determine whether they are relevant in a particular community and add to the convenience of the people. Remember that unless there is a demand, either pre-existing or one that you can create, there will not be a scope for selling.

As a beginner you can consider choosing a niche, such as trendy network marketing products having high profit potential. For instance, FMCG, Healthcare, and beauty products are some of the most successful areas for network marketing companies.

Step 2: Identify your target audience:

The second most important step when initiating network marketing is identifying your target group. As a beginner you must select your target customers on the basis of affordability of the products and services you are dealing with.

Targeting customers who are famous in a particular housing society or have a high online presence can also lead to success depending on the niche you are targeting.

Step 3: Choose a company

Working for a top notch company having a good brand image is one of the most critical elements of network marketing. Hence, as a beginner you must look for a network marketing organisations having a good customer base to avoid working with fraudulent firms.

Remember, being engaged with a network marketing firm that does not having a good reputation in your target market, or is not reliable, will bring down your social and economic situation.

Step 4: Make connections

Connect with other network marketers who have been in the field for years to understand the tactics of maintaining your online marketing game. Networking and communication skills are the cornerstones of network marketing in the long run, and successful marketers can give you a lot of personal insights that can help you bring your A-game.

Consider joining a social media network marketing group to stay on top of the latest market trends. Good connections with other network marketers could also create opportunities for productive collaboration that will boost sales overall.

Now that you have your guide in place to get started with network marketing, it’s time you find your motivation and put your plan into action. Network marketing happens to be a great opportunity for anyone who wants a steady stream of income while also being their own boss.

Last updated on 28 Sep 2022
12:13 PM
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