In this post I will outline my views on network marketing and look at how it is evolving in 2024. Let’s see if it is still a relevant business model to use in 2024.
Old School Network Marketing
In the evolving days of network marketing, things were totally different. Once you joined a network marketing company, you were instructed to build a list of prospects by writing down the names and phone numbers of all your friends and family. You were given a prospecting script to use once you had gathered up enough courage to contact the people on your list.
Most of the people on your list may have not spoken to you for many months or years. Your object was to get them to a business opportunity presentation or on a three-way call with one of your upline leaders.
You were also asked to talk to as many people as possible to try and get them to look at the network marketing opportunity that you were involved with.
Some really good prospectors were able to build up large networks, but the vast majority failed to reach a significant rank within the company. Most people ended up losing money and also ended up with a large amount of stock that was not going anywhere.
Once you joined as a distributor, you were required to purchase a product pack that you could show to others, use yourself and also sell to others. There were higher priced packages that could be bought to reach higher ranks within the company. Many distributors bought these higher priced packages and ended up with a large amount of stock that they were unable to sell.
A small number of people become actual leaders, most people ended up becoming sales people. It is difficult to build up a substantial income for retail sales.
The price of the products were inflated to pay out commissions on various levels. The actual marketing budget was coming from inflated prices.
Distributors were taught pushy recruitment and sales techniques. You may be able recruit distributor using these techniques, but they will not remain with the company for long.
These unethical practices contributed towards tarnishing the image of network marketing. The network marketing model of distribution and the compensation plans were great, they worked and resulted in moving a large amount of products. The pay plans also enabled many people to become wealthy.
Pushy sales and recruitment techniques and inflated prices led to the downfall of most network marketing companies. Lazy people joined these network marketing companies motivated by promises of earn quick money. They did not put in the time and effort that is required to become leaders within these companies.
They knew exactly what the had to do and also knew the pay plan, but their laziness was to blame for them not making much money. These people ended up blaming the network marketing companies and the industry as a whole.
What’s Changed In 2024?
In 2024 you don’t have to make prospects lists with the names and phone numbers of friends and family. You have a ready built list on social media and WhatsApp. You will not be prospecting to them using traditional pushy techniques. You will just present them with information that they can evaluate to make an informed decision on whether or not to join the network marketing company.
The pay plans have also changed to incorporate the best from affiliate marketing and network marketing. Most network marketing companies have started to use the forced matrix compensation plan. They also offer matching bonuses that can significantly boost earnings.
The traditional affiliate marketing model just pays once for the product that you are recommending. This is how you get paid as an affiliate of Amazon. The network marketing models works differently by getting you to acquire customers and affiliate for the company. Once a person becomes a member using your referral link, you will earn commission of every purchase they make as long as they are an active member of the company.
You will also get to earn on multiple levels as the affiliate members that you recruited start building their own networks. Affiliate marketing usually pays commission on the purchases made by people you directly introduced to the company. Network marketing pays on multiple levels as your networks grows.
You don’t need to take prospects to business opportunity presentations, this is optional. They can access the presentation online in video format. They can also get all the information they need from the company website.
Your work as a network marketer in 2024 is to get as many people as possible to view the company presentation using the unique referral link assigned to you by the network marketing company that you are working with.
You are not pushing people to join, you are not trying to convince them to join. You just direct them to the presentation and let them make the decision.
The network marketing companies that I am working with are LiveGood and Nexus Rewards. I will be building large global networks in these and there will be many people joining my network and forced matrix in 2024.
How To Promote Your Network Marketing Opportunity In 2024
Promoting your network marketing opportunity is mostly done using the internet in 2024. You will be give a referral link by your network marketing company. People using this link will be taken to an online presentation and can join immediately.
You can send your referral link to people you know personally or post it on your social media feed. You can also promote your referral link using digital marketing.
Digital marketing comprises of social media, blogging, videos, pay per click, banner ads, solo lists… any legitimate way of getting your link in front of people that most likely to be interested in building an online business, especially a network marketing business.
I am promoting the network marketing companies that I am working with via blogging and social media. I will be creating videos on YouTube soon. There are many ways to build your network marketing business using the internet.
All The Telling And Selling Is Done Online
You will be doing all your prospecting and recruiting using the internet. The products/services that your network marketing company supplies will be accessible via the internet. Everything is accessible online, so you will not need to hold any stock!
The network marketing company will deal with all the order processing. You don’t have to get involved in the shipping, returns or queries related to the orders. The company will deal with all of it and give you a commission based on the sales generated by your network of customers and affiliates.
As it is all done online, the price of the products is not inflated. Everyone will be getting real value for money, this holds true for the companies that I am working with.
The cost of join and running your networking marketing business is also relatively low. You can have your business up and running by paying a one-time fee of $40 and a monthly fee of $9.95. There are no quotas to meet and you can build your business at your own pace.
Your network marketing business is a global business that can be run entirely using the internet. You can build it from anywhere is the world that you can access the internet from. You don’t need to be at any specific place at any give time. You can build your network marketing business from home on a part-time basis.
These low-cost network marketing opportunities offer the average person a way to build a substantial monthly passive income using the internet.
The important thing in building a global network is to become a leader that motivates others and is able to pass on the vision of freedom that is offered by these opportunities.
Most people associate network marketing with pyramid schemes and money games. The difference with these opportunities is that you are not pumping more and more money into them every month. You will be paying only $9.95 monthly, there is no money stuck in the system. All commissions are paid out weekly and monthly!
You will not be paying any extra money to move up in rank. You will earn commissions on product sales and also from the sales generated by your network. You only pay $9.95 monthly to stay active!
Just think about all the expenses associated with running a conventional business like rent, stock, order fulfilment, administration, website development, updates and hosting costs. If you take all this into consideration paying $9.95 monthly for your online network marketing business is really low!
I’m sure that you will reach the conclusion that network marketing is still relevant in 2024. You can use it to build a substantial monthly passive income within 12 months.
You will need to get your opportunity in front of many people, but it will be well worth the effort.
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