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1. Network Marketing Systems
Network Marketing Systems
A network Marketing system provides all the information on the opportunity, answers your prospects questions, helps sign them up and duplicates to give them the same tools. Better network marketing systems will also have member areas with training guides and numerous tips.
Some may also contain chat rooms, forums and downline viewers, totally free of charge! A lot of existing network marketing systems get prospects to join to gain access to the Member Area before actually joining the core opportunity.
You will find that the best opportunities combine numbers 1 and 3 above using a front end system that handles everything for you, from sales to recruiting. So whatever path you decide is right for you, the secret of the whole system is to join a network marketing system based on that path to handle your prospects, optimize commissions and introduce the opportunity.
Or, more importantly, a system that provides you and your future sign-ups a simple marketing plan, trains you on how to use it and therefore trains your sign-ups to do the same. The secret to success in network marketing is a simple duplicable system that anyone can follow, not just experienced networkers.
Both online, offline and a combination of the two, for both part-time and full-time participants. PLUS a product you truly believe in. No sensible networker will ever advise you to rely 100% on the systems, and with very good reason.
The systems assist you in every aspect of your business, but the power of network marketing only begins to multiply when you keep your downline growing too. This can only be done by building relationships with your team, no computer can do that.
Ida Mae Boyd, Network Marketer, Master Distributor for Veretekk
Network Marketing and Lead Generation System
2. Network Marketing Methods
Network Marketing Methods
A Network Marketing method is a method used by a business opportunity, or its structure. Depending on your current circumstances, skills, time constraints etc. you will choose the method most suited to your situation. The following are summaries of the main three methods you will encounter in Internet Marketing:1) Network Marketing or Direct Selling
This is the deep end of the business opportunity pool. You must often invest a lot more time and money into these opportunities, receive training and work as a team. It can be a lot harder to get people to sign-up and even harder to teach your sign-ups to get other people to sign-up. You will find commission plans paying most on 2nd and 3rd level sales for obvious reasons, it promotes growth. Potential earnings are also far greater than any other method and is also the only method that has true 'residual income'. However - it is not always as hard as it first seems with the right support systems and training in place (more on this later!)2) MLM Cyclers
Usually your first steps into MLM. These are the ones to be very careful with. Consider these as Network Marketing for beginners. You pay one initial sign-up fee which should actually buy you something (if it doesn't it may well be a scam). When you have signed-up a fixed number of new people you get a payout, some more product and re-entry into the system (hence a cycle). These are the cheapest way to get involved in an MLM Business Opportunity. The only flaw with these systems is that because nobody is buying a regular BV, commissions are only generated from new sign-ups. And you will need more sign-ups every time you cycle. And don't expect most cycler programs to still be around in 5 years time! These are not recommended.3) Affiliate Programs
Affiliate Programs are the most basic types of business opportunities. An affiliate program is a program of selling a company’s product by sending people to your affiliate website. Straight commission per sale, sometimes 2 tier (2 level - earn from signing up other associates). If you have a popular website this is the easiest way to generate short term income by selecting a related product of interest to your current website traffic. i.e. don't promote beachwear on an Eskimo websiteIda Mae Boyd, Network Marketer, Master Distributor for Veretekk
Network Marketing and Lead Generation System
3. Network Marketing Terms
Network Marketing Terms Explained
The following are common Network Marketing Terms that you must know and understand.Network Marketing and MLM (Multi Level Marketing)
MLM is similar to network marketing in that anyone you sponsor/sign-up to an opportunity becomes your 1st level member. Anyone your 1st level member sponsors becomes your 2nd level member, anyone your 2nd level member sponsors becomes your 3rd level member. And so on.
The difference between the two is that with MLM you only earn from enrolling new distributors/affiliates, with Network Marketing you can earn an income just from selling the products and earn from a combination of your sales and your downline's.
Downline
This is the network family tree of your sponsored members and their sponsored members and their sponsored members etc etc.Upline
This is the family tree going backwards showing the person who sponsored you, then the person who sponsored them and so on.Commission Plan or Pay Plan
The important factor with network marketing is the structure of commissions earned at each level of your downline. eg 10% of 1st level sales, 40% 2nd level sales and 10% 3rd level sales.
This will then be followed by various bonuses based on total sales volumes etc, such as 2% of total business sales divided among qualifying members.
BV
Bonus Value. A reference figure relating to the amount of sales made. Commissions are paid based on BV. Think of BV as business volume where 1 BV point usually equates to just over $1 of sales.Autoship
An insurance policy with added benefits. Commissions are usually only paid if you meet minimum BV requirements.
So, if you don't sell enough product (or any at all) autoship automatically orders the minimum requirement for you.
The reason for minimum order requirements is for both business and legal reasons - if you are not an active representative, you are not entitled to commissions (stops people from just promoting the opportunity and never selling or using any products)
These are some of the many terms you will come across when reviewing any business opportunity.
Ida Mae Boyd, Network Marketer, Master Distributor for Veretekk
