What Is Network Marketing: It is now a commonly used term in most online business forums, money-making ads and articles. Most times, its usage is misapplied, creating wrong meanings and complicated interpretations.
Network marketing is a method used in reaching a group of potential customers with products and services of a company through a system of independent representatives.
Also known as direct selling, it promotes the sales of products and services among the closest network of family members and friends, it then extends to other acquaintances and further links up to a wider group of people.
This strategic group of potential customers can only be reached by the independent representative (could be called distributors or marketers) of the company.
In making sales for any product or service it might be necessary to have face-to-face contacts, word of mouth description and physical sampling to push for such sales and applying internet marketing strategy.
The companies know the importance of this, which is why they rely heavily on network marketing strategy to reach targeted audience, thereby saving huge cost on marketing and advertising, and thereby focusing their time and resources on research and producing quality products.
In explaining what is network marketing, it should be noted that it is totally different from the numerous get-rich-quick schemes that keep popping up on WebPages or in spam emails, soliciting for your membership.
It is a very profitable way of not just pushing for sales but also leveraging on the efforts of others in the network.
To get involved in a real network marketing business, it is always advisable to go through a mentor, that is another person that is running a successful network marketing business, and then the next step will be in choosing a company to work with, one that is reputable with quality products and services.
Furthering explanation on what is network marketing, other factors to look out for will include the compensation plan and your own time schedule, all of this and more will be expatiated on by your mentor, which is why it is imperative that you have one before you begin the business.
In further elaboration on what is network marketing, it is important to know that the network marketing industry has grown to become a multi-billion dollar enterprise, which is a source of wealth to a growing number of people including some of the world’s richest and most influential personalities.
Billionaire investor, Warren Buffet who owns three network marketing companies said “It is the best investment I ever made.” While another billionaire and business tycoon, Donald Trump said, “If I lost everything and had to start again, I would find myself a great network marketing company and get to work.”
Bill Gates, founder of Microsoft, expressed the same thoughts when he said, “If I would start all over again, I would chose network marketing.” The renowned best-selling author, Robert Kiyosaki puts it like this, “The richest people in the world look for and are building networks. Everyone else is looking for work.”
Indeed, economic studies have shown that about 40% of the multi-millionaires that will emerge within the next ten years will come from the network marketing industry. So the important question will be; are you one of them?
Join Kedi Business and Gain Financial Freedom. Click here for detail information to be a member.
Olabode Oruku is the chief executive officer of Oruku Consultancy Services. The company offers proven online and offline marketing training to small business owners. You can reach me on mobile phone 08033205456 or Click Here To Send Me A Mail.