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What Are the Benefits of Network Marketing?
Network marketing is an innovative form of marketing that’s gained popularity in the past decade. Also known as multilevel marketing (MLM), network marketing starts by offering customers a product or service and then giving them the chance to join your team. If they’re not looking for a new business opportunity, they can simply buy the product or service and move on with their lives. However, if they’re looking for a new career, they might be interested in becoming a network marketer.
When you add a new network marketer to your team, they’ll undergo an MLM training course. This training teaches them how to market the product or service and recruit more people for their own team and therefore adding to your downline. Every time your new recruit makes a sale, you’ll get a percentage of the profits along with the money you earn from selling the product or service yourself. Essentially, network marketing combines active and passive income to make it possible for anyone to build their own business.
The business opportunities don’t end with your new team member. Once they’ve joined the team, they can recruit new network marketers and get a percentage of their income. In turn, these new network marketers can recruit even more new members, get a percentage of their income, and so on. Theoretically, it’s a never-ending chain of people recruiting network marketers and earning commissions from each other’s sales. This is on top of the money that they’re already earning from selling the product.
With this many people involved, your team can get a little disorganized. Fortunately, network marketing CRM software makes it easy for you to recruit new people, keep track of your team and make sure everyone is on the same page. All you have to do is find new customers and get them to join your team. When they see how much money they could potentially make, this shouldn’t be too difficult.
In recent years, many people have mislabeled MLM marketing as a “scam” or a “pyramid scheme.” In fact, network marketing is a safe, legal way to start your own business without building everything from the ground up. That’s just one benefit of network marketing. Here are some of the lesser-known benefits that many people don’t realize until they join the team.
1. Network Marketing Teaches You Business Skills
Running your own business isn’t just about selling a product. You need to actively reach out to customers to earn profits, recruit new leaders and increase word-of-mouth so other people want to join in. Many businesses fail right from the beginning because the owners don’t know where to start. If they don’t know how to attract customers, they can’t make a profit, and their entire business falls apart.
When you invest in network marketing, you’ll learn business skills as you go along. Network marketing scripts can make the process easier, but you’ll still have to figure out how to market your product and opportunity. This isn’t the type of business where you get paid by the hour. To earn passive income, you’ll have to figure out your audience, market your opportunity to these people and follow up so they don’t forget about your sales pitch.
Luckily, network marketing CRM software offers plenty of tools to make the process easier. You can keep track of orders, follow up with customers and create funnel links through the software. Funnel links are especially important because they’re the first thing that a potential customer sees. You’ll need to grab their attention right away with an attractive video and mission statement that makes them want to sign up—or, at the very least, purchase your product.
2. Network Marketing Builds Your Confidence
If you asked people why they don’t want to join your team, most would probably say that they don’t want to appear “pushy.” They have trouble talking to strangers and convincing them to buy the product. Some people have no idea how to approach the subject without sounding rude or demanding.
In the business world, you need to figure out how to sell your product without coming across as pushy or aggressive. However, you also don’t want to sound passive and disinterested in your product. If you don’t seem to care about your product or service, why would a customer want to buy it?
Network marketing builds your confidence by teaching you how to talk to people. When you need to earn commissions to make money, you’ll start to feel a lot less shy about selling your product. The more you interact with customers, the more you’ll learn that each customer has their own set of needs. You’ll figure out how to target their needs and demonstrate how this product will improve their quality of life.
You’ll also gain confidence whenever you make a sale or recruit a new person onto your team. If you can do it once, you’ll start thinking that you can do it enough to support yourself. MLM will seem more like a career and less like an impossible challenge. With your newfound confidence, you’ll find it easier to climb the ladder in the business world.
3. Network Marketing Allows You to Live Your Life
Most people know that network marketing allows them to work from home and set their own hours, within reason. However, if you’ve worked in a store or an office your whole life, you might not realize what that actually means. When you launch a network marketing team, you won’t have to get up at the crack of dawn or work overnight. You can take a break whenever you want, go to lunch whenever you want and take weekends off. No more asking your boss for permission to do anything—you live by your own schedule.
Network marketing also allows you to spend more time with your family. You can pick up your kids from school and spend time with them in the afternoons and on weekends. If you don’t have kids, you can spend more time with your partner, your friends and other loved ones. Once you start earning passive income, you can even take a vacation or a day off whenever you want. Instead of dedicating 40 hours a week to a mindless office or retail job, you can decide how much you want to earn and how many hours you want to spend in the workplace.
4. Network Marketing Is Full of Dedicated Team Members
Since network marketing is a commission-based business, it weeds out the people who don’t want to be there pretty quickly. Most network marketers actually enjoy their job and want to help their team as much as possible. After all, when their team succeed, they succeed—literally. Getting a percentage of your team’s commission is a strong incentive to help them every step of the way.
When you get a job in virtually any other industry, your teammates all have different tasks to complete. In the network marketing world, everyone has the same tasks and the same goals. This means that everyone on your team is on the same page. You’re selling the same products, reaching out to the same audience and trying to recruit more people to join your business. This makes it much easier to interact with your team, ask questions and get help when you need it. Officially, there are no “bosses”—just leaders who are in the exact same position as everyone else.
5. You Can Make Virtually Unlimited Income
Most jobs offer a yearly salary or hourly wages. If you’re a full-time employee, you’ll get the same paycheck every week—unless you work overtime, and that eats into your free time. You might get the occasional bonus, but those are few and far between. Even part-time employees can only work for a certain number of hours a week. If you’re a salaried employee, you’ll get the same amount every year no matter how much you work.
When you join the world of network marketing, there’s virtually no limit to the amount of money that you can make. Every time you sell a product, you’ll make money. You’ll also earn money every time your recruits sell the product or service. The more products you sell and the more people you recruit, the more money that you’ll make. There’s no limit to how far you can go in this business. If you recruit enough people, you might be able to live off passive income alone.
6. You Won't Have a Boss Who Hoards All the Profits
Anyone who’s spent any amount of time in the corporate world knows that the people at the top—bosses, managers, CEOs—take most of the profits even though you’re the one doing most of the work. Some CEOs make millions of dollars every year while paying their employees less than eight dollars an hour. It doesn’t seem fair, but many people feel like they just have to put up with it.
In fact, you don’t have to put up with it. Network marketers might have “leaders,” but they don’t hoard all the profits. To earn money, they still have to make sales and earn commissions like everyone else. Your team members don’t have to climb to the top to make more profits—if they recruit the same number of people that you do, they could easily match your income. You’ll earn a commission of their sales, but they’ll also earn a commission from their teams sales, creating a system of profit-sharing instead of wealth-hoarding.
This also means that you won’t have to worry about your boss cutting your position to save money. If anything, your upline has an incentive to keep you working so you can keep making profits. Unlike big businesses that hire fewer people to make more profits, network marketing actually makes bigger profits when you recruit more business builders into your team.
7. Most of the Infrastructure Is Ready to Go
When you start your own business, you’ll have to factor in operating costs, startup costs, business loans, rent, supplies, store locations and everything else. Network marketing provides most of the infrastructure for you. Even if you start at the top, you can take advantage of network marketing scripts that do a lot of the heavy lifting for you. You can also find plenty of network marketing tips online to help you get started.
Network marketing requires no physical storefront, company vehicle, business partners or anything else that might eat away at your profits. Instead, you’ll enter a community of like-minded individuals who want to help you along the way. Some network marketing CRM software brands even offer customized support for people who are entering this industry for the first time.
If you’re ready to enter the world of network marketing, My Duplicator has the tools that you need to be successful. My Duplicator is our network marketing CRM program that helps you build funnels, keep track of your customers, schedule follow-ups, view user data and much more. You can even see how many prospects have watched your videos and view other important pieces of data. It’s an all-in-one software that helps you hit the ground running with your network marketing business.
My Duplicator also has features for your new business builders. They can sign in, watch training videos, keep track of their prospects and check their scores on the leaderboard. Plus, My Duplicator comes with private Zoom calls, live customer support and access to an exclusive Facebook community with other software users. We also hold weekly Q&A sessions to help business leaders reach their full potential. To get started, sign up for a one-year MyDuplicator subscription. You can cancel any time or renew your subscription for as many years as you like.
