Multi-level marketing (MLM) businesses in the hands of someone who knows what he/ she is doing can be a viable business opportunity. However, due to misunderstandings about how network marketing works, many who try their hands at this type of business fail. Part of the issue with this is that they really don’t grasp what they must do to market their business. If you’re currently looking at an MLM opportunity and are wondering how you’ll make a go of it, here are four unique marketing challenges that MLM businesses face that you should know about.
1. Wrong Company
Choosing the right MLM company can make all the difference in your marketing efforts. First of all, it is likely that you understand that some network marketing companies don’t have such a great reputation. It’s going to be harder to market products for those companies because very often, people will remind you of the negative things that have been said about that company. So, choose a company that you can give your 100% support to.
Though do keep in mind what you’re going to be selling. The company itself might be excellent, but you may not like the products. This is also an issue. If you’re not completely excited about the products, it’s going to be hard for you to market them.
2. Leveraging Personal Networks
To be successful in an MLM, you must leverage personal networks. That means that you really do need to hit up your friends and family in order to start your marketing efforts. When you join most MLMs, you’ll be asked to make a list of 50 or 100 people that you know.
The idea behind this is that you’re going to first try to sell your products to these people as well as recruit them for your business. If that idea makes you uncomfortable, look at it this way: If you’re not comfortable selling your products to your friends and family, you shouldn’t be selling them at all.
3. Working With Technology
Some of the tools of network marketing have changed over the years. It used to be that when you showed someone your products, you did it in person. Or you handed them a catalog. While these are still important marketing tools, technology now plays a role.
For example, some MLM-ers have started to hold their home parties on private Facebook pages. All their new products get introduced via video and product descriptions. Being able to use these tools has expanded the reach of many marketers. If you’re not up on these technologies, you may be missing out. Some people even have their own websites! If this like something you want (or if you already have one), be sure the web design is crisp and professional to help ease people into buying your products.
4. Contacting New Leads
Many people feel shy about talking to new people about their business opportunities, and therefore, they avoid contacting these new leads. But new leads are the lifeblood of any business. As a business owner, you need to nurture your business leads. If you take the time to call or write a couple of new leads regularly – preferably, daily – you’ll get better at it and more comfortable with it over time.
Final Words on MLM Marketing
The problem that many people have with network marketing businesses is that they don’t understand that they must market them. They feel uncomfortable when they are told things like “you must leverage personal networks” or “you need to get comfortable with technology,” but these and other marketing tools play a key role in their success. The bottom line is the more you can embrace these principles, the more successful you’ll be in the long run.
References:
Kyani | The Most Effective Ways to Market Your MLM Business
Medium | 4 Ways Technology Is Changing the Way We View Multi-Level Marketing
The Balance Small Businesses | 10 MLM Home Business Success Tips
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