What is Network Marketing?
According to Entrepreneur Magazine, network marketing is a business model that depends on a group of distributors and customers to build the company. This can save a company millions or even billions of dollars in advertising costs. The company pays commissions to independent affiliates that instigate a sale. No commissions are paid unless a sale is made. The fastest growing network marketing company today is My Daily Choice/Hempworx.
What does an Affiliate do?
Affiliates generate leads, recruit customers and other affiliates, and manage their downline. Their downline is the group of people that have been recruited as either customers or affiliates that purchase product every month. Sometimes these people are work at home moms or people that want to earn a little extra money. But sometimes affiliates are people that take the business very seriously and intend on building a large network of buyers that will provide a very large residual income.
How does Network Marketing work?
Compensation plans vary depending on the company, but generally, the company has products that are not available in the typical store. A customer most likely becomes aware of the products by word of mouth such as friends and family. Often times a new customer will have such a dramatic experience from using the products that it is almost impossible to keep the person from telling their friends and family about the products. More often than not, a new customer will also be told about the ability to receive a commission on any sales that they generate. The new customer may have a relative with autism, epilepsy, anxiety, chronic pain, or other ailment that cbd oil has been known to be beneficial for. So the new customer suggests that the relative buy direct from the company a sample pack or full product size to try and see if it will help or not. Since the company offers a money back guarantee if not satisfied for any reason, the relative decides to give it a try. This means that the affiliate does not ever have to inventory product and also never has to give a refund. Since everyone buys directly from the company, the affiliate never has to worry about shipping or handling anything.
How long has Network Marketing been around?
Although there’s a lot of debate about the origin of network marketing, many people point to Carl Rehnborg, the founder of what would become Amway, as the first person to create a network marketing program. Back then it was known as Nutrilite and was started in 1939.
Network Marketing is actually the purest form of the free enterprise system. Recommend a product and if they buy, you get a commission. Capitalism at it’s best. It is not a get rich quick scheme and you only get paid if you instigate a sale. There are no free lunches. Since socialists prefer something for nothing or a forced distribution of wealth, this system is not high on their list. But because the more you work, the more you get paid and there are no limits to how much you can earn, this business model is highly recommended by most entrepreneurs, self made millionaires and billionaires.
How can I get started in network marketing?
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