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Now let’s do a little company quiz! Have you heard of any of these companies? ACN Inc, Avon Products, Forever Living Products, Herbalife, Juice Plus, Kleeneze, Mary Kay, Melaleuca, Nu Skin Enterprises and The Pampered Chef. If you have these are actually Multi-Level Marketing (MLM) companies.
If you Google MLM, you tend to get someone harping on about the fact it’s a scam because ‘they had to pay a start up fee’ ‘they got no results’ or the best one ‘it’s a pyramid scheme’ (I will do a post on pyramid schemes in the future) In short “In a pyramid structure, a member pays a fee to join. A portion of the money will then be remitted back to them when they bring a new member into the scheme. No products are involved in this scheme, simply get more people to dump in money for your chance to make more money.” That is a pyramid scheme. Don’t get confused.
To some people, it’s pretty revolutionary. You have no product in your hands to physically sell. You earn by selling products via your reach and marketing techniques, and you can earn money from mentoring people in your downlines which then gives you PASSIVE INCOME when you combine your own sales and their sales.
But why does MLM get such a bad reputation from people? Well, I’m going to try to explain what MLM is in this article and why you should consider giving it a go.
What is MLM?
Multi Level Marketing (MLM) is a business model which the distributors’ income includes their own sales, and a percentage of the sales group they recruit allowing the company to grow, this is known as downline. Customers/users can also sign up as a distributor to sell the company’s product. Usually, the sign-up fee will be the price paid to purchase the product.
Basically, MLM companies build and manage their sales force by recruiting and motivating independent distributors to go out and sell! Like normal companies in retail which you find in the high streets all around the world.
MLM compared to Traditional Marketing?
The obvious difference which you can see in the image below. The levels it goes through is a lot less than traditional marketing such as your normal stores. With MLM it comes straight from the manufacturer (more than likely the name of the company) straight to you, the distributor which you sell to the consumer for a commission.
Difference in marketing or advertising
Traditional companies advertise their products mostly through media outlets or even in-store advertising online or offline. They don’t have the reach of individual people, only one place to sell. On the other hand, MLM companies advertise their product through individuals, creating their own business to sell the product. The majority of the people that attract MLM are people who work at home or choose to leave the rat race behind and set up a low expense business in front of the computer. Fees vary between company. Each one comes with different perks.
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To Conclude – Is MLM For Me?
The MLM model of operation is the most cost efficient and easier to run from the top tiers of the company. It does rely on highly motivated individuals to drive sales with the motivation of financial freedom. However. It’s possible. The fee’s and commission rates you are paid by selling the products from your business are set in stone. All you have to do is achieve the targets. A little bit of hard work and investment in training such as traffic driving, social media marketing, and offline selling techniques won’t go a miss. Ultimately the more time and effort you put into it, the bigger the end result.
You will always get people who will fail. You will always get people who make it a success. Look or ask people how they are successful. 9 times out of 10 its because they have done it for a long time and its built up or they know how to drive traffic to a website allowing more people to buy.
The image to the people who see MLM or how people promote it is bad, don’t get me wrong. You only have to check out on Facebook Groups a number of the money making pages is full of people spamming. Spamming is bad. Talking to people is good. You will be more successful in MLM by actually speaking to people, whether it’s selling or recruiting into a team.
That being said enjoy the flexible working hours coupled with the chance to generate a healthy revenue stream. A Little bit of effort. What can go wrong? It’s cost you low fees to start. You have no premises to buy and no stock to buy. Dream a little bigger darling.