How To Choose Right Network Marketing Company?
Thousands of network marketing companies are mushrooming all around the world every year and opportunities to become a network marketer are immense in the current business scenario.
Joining a network marketing business would probably the most smartest thing that you could do with you time and money today.
With hordes of online marketing campaigns and word of mouth reviews, you may find it quite tempting to join that one popular network marketing company that everyone out there seems to be a part of.
Just a moment? Is it really what it claims to be? Would you have a secure income and a comfortable business prospect?
Read on to know how to choose the right network marketing company for you.
What is Network Marketing?
Network marketing boosts the financial portfolio of millions of people around the world by providing that considerable additional income.
Network marketing companies require you to make an initial investment of few hundred dollars and purchase a product kit. You can choose to sell the products to friends, family , colleagues and other personal contacts.
The representatives are also encouraged by the company to recruit more members to their downline.
The income is generated from two sources. The affiliates of the company will earn a commission on the products they sell. In addition to this, he/she can earn a fraction of commission on every sale his/her down line makes.
The commissions are calculated depending on the MLM business plans followed by the network marketing companies.
Most of these affiliates make use MLM softwares to for easy calculation of commissions and management of MLM business.
Why is Network Marketing popular?
The primary reason is quite simple and point blank.
“Build your own wealth, not someone else’s”.
You could probably earn thrice as much as being an employee in a company/firm. Hopes of monetary benefits and a subsequent plush lifestyle is what draw more than 90 % of the network marketeers into business. This is quite right, considering the growth of a person in terms of financial aspects, as an employee in a company is almost stagnant compared to network marketing where every single day has loads of opportunities.
You would probably argue about job security. In the age of inflation and unexpected economic crisis, job security is anyway nil.
Network marketing offers ultimate financial freedom to the marketeer, unlike a 9 to 5 desk job where you have to trade your time for money.
With network marketing, you can enjoy excellent incentives if you do really well in sales. Imagine a holiday in an exotic archipelago , all expenses borne by the company. Or may be driving around in a luxury car. Quite temping, isn’t it?
How to choose the right Network Marketing Company?
Choosing the right network marketing company seals the fate of your network marketing career. The right amount of analysis, speculations and enquiries can help you choose the perfect network marketing company for you.
Here are a few pointers to guide you in this important task.
1. Don’t fall for the hyped up marketing of the companies
Most of the network marketing companies have very active social media campaigns and advertising campaigns to lure in naive network marketeers. Make sure you don’t fall for this. The hype created by this marketing campaigns can tempt you to join a company that is not right for you. Make sure these advertisements do not cloud your sense of judgement.
2. Age of the network marketing company
It is better to stay clear of startups, even of they offer ground floor opportunity and insane income prospects. The reason for this observation is that most of the network marketing companies have shut down in a decade from commencing their business. On the contrary, there are companies like Amway and Tupperware that has been business for more than 50 years.
If you are a newbie,you can choose to join the established companies. Network marketing veterans can invest in startup simply because they can judge and analyse the future of the startup better.
3. Learn about the company from cover to cover
You should try to gather as much information about the company as possible. This should be easy, if you can contact other affiliates and hear what they have to say. You could also contact a few customers and ask them about the products and its reviews.
4. Membership of the company in business organisations
There are a lot of organisations in the world like Direct Selling Association (DSA) that compels the companies to aide by strict business ethics when it comes to dealing with their marketeers.
Unfortunately, only 20% of the network marketing companies are registered with DSA.
Though it may limit the options , it would be better for you to choose a company that is a member of such business organisations as it eliminates the risk of being cheated by scams.
5. Analysis of the products to be marketed
This should be the most important aspect of your evaluation. Unless you believe in the product, you would never be able to market it.
Question yourself about various aspects of the product like is it unique, whether you would use it personally , if it would benefit your potential customers , is it value for money etc.
Evaluate the answers and decide if you would be able to successfully market the product.
6. Study the compensation /MLM plan
The compensation plan differs from company to company. The most common MLM plan is the Binary MLM plan.
There are other plans like Matrix MLM plan, Unilevel Plans , Hybrid MLM Plan, Stair step MLM Plan. Generation MLM plan etc. Each has its own set of pros and cons. Certain plans pay according to the volume of business generated while the others pay upto a certain level on the downline. Binary Plan emphasises on balancing the left and right leg for maximum compensation.
7. Training and support
The company should provide training to all the newly recruited members, whenever they are recruited and should be willing to support them anytime. Certain companies provide training just for the upline sponsors and ask them to guide their recruits. This would work at times. On the flip side, there could be chances that in spite of knowing everything about the products and the business, the sponsor is not a good trainer.
Make sure you are trained well and understands the system of the company by which they market and promote their products.
Though network marketing sounds very promising, finding the company is the most important aspect of your success. If you are a startup that is looking forward to enter the market, we offer MLM consultations and MLM software development for the right management of your business. Try out our Free MLM Software Demo & Contact us today!