What You Need to Know Before Joining an MLM Company

Today’s economy means that more and more people are working from home. You might have been approached by family or friends about a business opportunity and chances are, this was to ask you to join an MLM company. MLM offers many benefits but you need to know what you’re getting into before you join, so take a look at below for more advice.

Know That it’s an MLM Company

MLM companies can have a bit of a bad reputation and a little bit of a social stigma. People often have a number of misconceptions about MLMs and about the type of people that work for them. If you’re at all worried about being tarred with that same brush and if you’re at all uncomfortable with that idea, an MLM scheme probably isn’t for you.

MLM = Sales

In the vast majority of cases, MLM = sales. Regardless of what the person recruiting you into the company tells you, even if they tell you that they are sharing ideas or trying to spread the word or spread ideas, they are really trying to accrue sales. The MLM business model can provide you with the means to make a lot of sales, but at the end of the day, your success rests on how many sales you can make and how many people you can recruit to the company. If you don’t want to sell products, MLM won’t be for you. But if you’re a savvy, confident salesperson, you should find MLM a breeze.

Sell to Your Warm Market

Most organizations will recommend that you sell to your warm market. This means selling to your friends and family. They say that this is because you’ll find it easier to share your story with people that you already know as you’re comfortable talking to them. But unfortunately, this can be a problem in itself – selling to your friends often doesn’t work all that well as the selling conversation will actually be rather uncomfortable. You might actually find it easier to sell to complete strangers than you would your family and friends so just be aware that although your company might want you to sell to your warm market, that might not be the right route for you.

You’ll Need to Recruit

To make a significant amount of money in the MLM industry you‘ll not only need to sell products, but you’ll also need to recruit others. Those that you recruit under you are called your downline and you’ll often make money when someone joins your downline, in the form of a bonus. You might also take a percentage of each sale that your downline makes. Therefore, the more people you recruit, the more money you make. In some organisations, you might also make money when your downlines recruit others and so on and so on. Recruiting is more difficult, however, than selling, and it requires a lot of skills. You’ll need to sell them on the products and the company concept but you’ll also need to sell them on the prospect of joining an MLM company.


Top Tips for New MLM Marketers

Multi-level marketing is a fickle game; get it right and you can make a fortune, but get it wrong and you could find yourself losing a lot of money and a lot of custom. You need to have the right mindset when it comes to approaching MLM, so follow some of the top success tips below to improve your money-making chances.

Sell Something You Love

There’s no way that you’ll be able to sell something if you don’t genuinely love it. You need to have pride in the products that you’re selling and you need to genuinely love them – otherwise, you’ll never, ever make a sale. Find a company that sells a product that you love and make sure that you partner with a company that you can feel proud of. It’s also a great idea to take a look at the compensation plan of the company that you’re looking to partner with to make sure that you’ll be properly financially compensated for the work that you do.

Always, Always be Ethical

The world of MLM can be fickle, but it’s important for every MLM marketer to remember one thing – to be ethical. Direct selling and cold calling can be underhand tactics, so it’s a good idea to only use business practices that you’d be happy for others to use on you. If you don’t like it when people turn up at your house to sell stuff, don’t use those practices within your own business.

Share Your Product Each and Every Day

The only way to grow your business is to share it with other people, and the more often you share your product, the more sales you’ll get and the more likely it is that you’ll grow your business rather than just sustain it. Share product samples with friends, family and neighbors, promote special offers via Facebook, Twitter and Pinterest accounts, share success stories, invite customers to host their own product parties – whatever it is, make an effort to share your product every day and you’ll soon see an increase in sales.

Meet Your Customer’s Needs

Customers don’t like being sold to – they like to have real conversations. Although you might have a script at hand, it’s important to remember that you might sometimes need to deviate from that script so you can actually have a conversation. Reeling off a spiel isn’t selling – listening to, interacting with and identifying the needs of your customer will ensure that they feel like they’ve made the right decision when it comes to purchasing your product. Give them what they need, not what you want them to buy.

Be Nice

Take a genuine interest in your customers and be nice! When you’re trying to sell a product, you need to be nice and genuine. Customers can always tell when you’re being fake and they will always know when you’re just trying to make the sale. Accept that you can’t win every sale and be gracious if it feels like things aren’t going your way. Above all, always, always be nice.

Come back in a few weeks for more tips for new MLM marketers.