What Is Network Marketing: It is now a commonly used term in most online business forums, money-making ads, and articles. Its usage is creating wrong meanings and complicated interpretations.
Network marketing is a method used to reach a group of potential customers with a company's products and services 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 broader group.
This strategic group of potential customers is sold to by the company's independent representative (distributors or marketers).
In making sales for any product or service, it might be necessary to have face-to-face contacts, word of mouth descriptions, and physical sampling to push for such sales and apply an internet marketing strategy.
The companies know the importance of this, which is why they rely heavily on network marketing strategy to reach targeted audiences, thereby saving huge costs on marketing and advertising and focusing their time and resources on research and producing quality products.
What is network marketing? It is different from the numerous get-rich-quick schemes that keep popping up on WebPages or in spam emails soliciting 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.
When you join a network marketing business, it is always advisable to go through a mentor. That is another person that is running a successful network marketing business. 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 network marketing is, other factors to look out for will include the compensation plan and your 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.
You should know that the network marketing industry has become a multi-billion dollar enterprise. It is a source of wealth to a growing number of people, including some of the world’s richest most influential personalities.
Billionaire investor, Warren Buffet who owns three network marketing companies, said, “It is the best investment I ever made.”
Donald Trump, another billionaire, 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, the founder of Microsoft, expressed the same thoughts when he said, “If I started all over again, I would choose 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 emerge within the next ten years will come from the network marketing industry. So the critical question will be; are you one of them? You will no longer ask the question, what is network marketing?
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