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Is Your Product or Service Suitable for Network Marketing?

You think you’ve got a fantastic product or service, but how can you be sure?

However, with decades of experience in the industry of network marketing, we have come to realize that most people fail – because they need more time to be ready.  Nonetheless, you have the product or service you’ve decided to use. So, let’s put them to the test and find out if you are ready to pursue network marketing to acquire leads, grow sales, and make your business stand out.

Please keep reading to find out what network marketing is, how ready you are to use it, and some general criteria to make sure you are ready.

What Is Network Marketing?

In general, network marketing, direct selling, and multilevel marketing are three interchangeable terms. So, don’t be surprised if one set of words is used instead of another; they are all the same.

Network marketing is a direct channel for distribution, accommodating market consumer products and commercial services to an end customer.  Commercial or B2B firms use network marketing to sell their services to other businesses.

A B2B product or service is best sold by a professional sales in-house rather than a sales consultant hired from a network marketing firm.

Through careful observation, one will realize that most products sold by a network marketing company are within a predictable realm of categories: technology, cosmetics, jewelry, health, nutrition, personal care, household, marketing services, etc.  However, we are beginning to see many vertical markets enter the network marketing industry, including real estate, mortgage loans, travel, and many others.

These services and products do not end their marketing venture at the end consumer, as the consumer is usually the best candidate for the marketing of the product itself.

This means that the potential of a product/service in network marketing is found not in the first consumer but in the endless pool of consumers extending further out from the single point of reference.

However, this does not limit direct selling to only consumable and single-use products. Direct sellers, such as magnetic provisions, water treatment systems, storage containers, and legal services, have developed many industrial markets.

Beyond this, network marketers have created definitive change in the advancement of insurance and financial products and the energy sector. Not to mention the application of network marketing in real estate.

Network marketing is everywhere; you must open your eyes to see it.

Is My Product or Service Ready for Network Marketing?

Now comes the critical question of readiness. The answer is simple: a product or service cannot be ready for network marketing, and any product and service can be used with direct selling methods.

However, this does not mean that it should. The question quickly evolves into “Is my product or service a worthwhile pursuit in network marketing?”

This question seems quite simple on the outside, but it requires a bit of introspection toward your product and service to help determine if it is a worthy pursuit.

So to figure out if your product is fit for network marketing, you have to establish if you are personally prepared. If so, you can move on to experiencing the hoops of network marketing, which will further select the success of your service/product.

Am I Prepared for Network Marketing?

Regardless of who you are, these are some qualities and abilities you should possess to help your product/service grow:

  1. The ability to prospect and choose your ventures appropriately
  2. Speaking to people face-to-face or over-the-phone
  3. Performing a presentation about your product/service
  4. Knowing how to follow up on leads
  5. Understanding the lead acquisition process
  6. Training a network marketing team
  7. Helping others get started with your product/service

These are just a few things you should consider before marketing your product/service. After all, it can be a lot to undertake, and you want to be prepared.

How to Prepare My Product and Service for Network Marketing

The longer you spend preparing, the less time you spend doing it! You must act, put yourself out there, and let the product do its magic.

Nonetheless, there are some things to help you get started on your network marketing path.

Before you do so, you can find out how MLM software can help you immensely.

Identify the Market

New people in network marketing look at their friends and family as the starting point for customer acquisition, and this is an entirely wrong approach to direct selling.

Like any other business, to succeed in network marketing, you must identify who will have the most use for your product or service. Who will benefit from it?

Here’s a quick guide on how to identify your market.

Stand Out – Don’t Be Shy

In all networking marketing ventures, convincing people to buy your product or join your team is one of the most difficult. Most direct sellers sell the same thing to thousands of people, creating the possibility of choice for the consumer.

You have to create something unique. Could you give the consumer a reason to choose you over others?

Ethics and Transparency

MLM companies are sometimes looked down upon, so they tend to have a bad reputation because people expect dishonesty.  Other terms are often used to define the industry, including network marketing, direct sales, social marketing, relationship marketing, and social distance marketing.

However, you can be different! If you love your product or service, your enthusiasm is more than enough to promote it. Please don’t make false claims, but instead, be open; let the product do its work.

Secure Brand Identity

Time and time again, network marketers need to remember to secure their trademarks, social media, domain names, and other online identifiers.

Before you think about launching, please secure all of these identifiers. You don’t want to be in dispute over a name when you are halfway down the marketing road.

Brand Voice

Now that you have a strong brand create some guidelines for the voice and tone. Only market with knowing who you are and how you interact with others.

Be consistent because every team member has to know what they stand for.

Are You Ready for Network Marketing?

Now that we have covered the principles of network marketing, the personal criteria that will make you successful, and some general network marketing ideas that will help determine if your venture is worth it, it’s time to get started.

If you think you are ready, that’s all you need to know. You can sell anything to anyone when you have the will and possess some practical skills!