What and How!
Network marketing has received a lot of bad press over the years, due to its comparison to pyramid schemes and very low returns for the distributor. I’ll cover pyramid schemes in a later blog post.
I remember the first time I was introduced to network marketing twenty five years ago before the computer age, the idea was to join a group, buy a box full of products (in this case it was household cleaning products) and make a list of family and friends and market to that list. One of the problems I had with this was that I couldn’t make a very big list, and when I had burned through my list, who else was there? The bottom line is that only one in five will buy the product and if you only have twenty to thirty people on that list then you’re not really going to make much money, in my case I got stuck with a box full of household cleaning products,, not so bad, in the end I did use them all!
What’s changed from then of course is the massive popularity of the internet and in more recent times the use of social media!
However you market, be it multi-level, single-level or just plain old selling your own product, the Internet now offers enormous marketing potential and with the use of social media to drive web traffic towards your site, list building is no longer a problem.
What’s very important when thinking of starting a home business, is that the product you sell is a micro niche, meaning you’re targeting a small group where the competition is low, the higher up in the search engine ranking you are the more chance there is someone will look at your site and convert into a lead and hopefully a customer!
There are three main areas that do best the first being health and fitness, second dating and third being utilities to make money on line, there is goods and services available in all three categories, so if you can find a niche market in one of those fields then you are off to a good start.
In order to streamline and cut down on time you need to have a dispatch strategy, in other words if you have a physical product and all of a sudden 10’000 people want that product yesterday, you may run into posting and packaging problems, so you can either outsource this work or sometimes the manufacturer will dispatch the product directly to the customer.
Another solution is to have an electric product, Ebook, video training course etc. In this case it’s purely a case of automating a payment and download system. If you’re looking for a product to affiliate yourself with there’s thousands of products out there, www.betternetworker.com is a great resource. Again it’s better to look for a network marketing opportunity as the benefit of being able to recruit a down line by far exceeds the profit from one time sales.