There are over 15 million people following their dream to make money with Network Marketing in the US alone and there is an estimated 53 Million people worldwide.
How many of these people turn that dream of making money in network marketing into a reality?
Like many businesses, the failure rate in MLM is very high, some statistics say it is as high as 95%. This high failure rate is not just for network marketing businesses, the success rate in most businesses is generally around the 5% mark.
Over 750 000 Americans Make Money Network Marketing…
Although 95% of people fail to make money in their network marketing business, it still leaves a group of 750, 000 people that are making a profit. These are the people that are turning the dream of working from home into a reality.
The most important question to ask is; what are these people doing and how can I become part of this elite 5% of people that have a successful network marketing businesses?
In days gone by your success depended on your network of contacts and how broad your sphere of influence was. In other words, how many people trusted and respected your advice and opinion.
This is certainly still true but thanks to the Internet, there are no limitations on how big your network can grow.
In fact, every single person has an equal opportunity to make money with network marketing. Technology allows people to widen their sphere of influence as far as they want to go. The Internet has completely leveled the playing field.
Having said this, many of the lessons that have been learned through nearly 50 years of network marketing offline are still valid. A combination of the old and new models of network marketing will bring the best results.
Online Network Marketing & Offline Network Marketing
There are 2 camps of network marketing, offline and online. There is often heated debate as to which one is more effective.
Some of the old school MLMer’s say that the Internet is too complicated and is not duplicatable while the new school MLMer’s say that the old methods are outdated and don’t give you enough leverage.
The truth is that both methods work very well independently. Combining the 2 will certainly give you a synergistic effect where 1+1 will certainly equal more than 2.
The key is working out which bits to combine and which bits to leave out. Once you strike a balance between offline and online strategies, you’ll find that it will be much easier to make money in network marketing.
Part of the key is working out what your strengths are so that you can choose a particular marketing method to focus on. Let’s take a look at some of the advantages to marketing your MLM business online.
Advantages of an Online Network Marketing Business
Many people feel uncomfortable approaching their friends and family about a business opportunity and so using online methods will allow you to target a totally different group of people.
Having your network marketing business online makes it a true home based business, you don’t have to go out to meet people or drive to hotel meetings.
The Internet allows for automation – many of your lead generating and prospecting tasks can be easily automated. This allows you to spend your time with the most interested people instead of talking with people who have no interest in what you have to say.
An online network marketing business cuts out all geographic boundaries. The globe is literally your market and you will find that people from many different countries will be attracted to working with you…this is impossible using just offline marketing methods.
The Internet allows you to attract highly qualified people into your MLM business. When you use the Internet correctly people that are genuinely interested in a home business opportunity will seek you out rather than the other way around (as with offline network marketing).
As you can see, there are a number of advantages to building your MLM business using the Internet. Without a doubt, the ability to attract highly qualified prospects is the most important. Some of the ways that you can do this are;
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