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Published On: Mon, Aug 5th, 2019

How Network Marketing Can Benefit Your Business

If you’ve got your own business, you know the benefits of networking. It strengthens business connections, gives you opportunities for new clients or projects, and helps you gain different perspectives or gather advice and fresh ideas. What you might not be aware of, however, is network marketing for your business.

photo/ Gerd Altmann via pixabay

What is Network Marketing?

Essentially, it’s a business system that focuses on direct person-to-person sales of a company’s product. No, it isn’t a multi-level marketing scheme or a get-rich-quick scheme, as many might think, because the difference is, MLMs are based on one person making money while another loses. Network marketing, on the other hand, allows each person to use their skills to help themselves and others be successful. 

Thanks to the Internet and other advanced marketing techniques like conference calling and long-distance marketing, network marketers can apply the successfully proven system to sponsor others and teach them how to market a product then duplicate the process. 

There is no big capital investments upfront, or geographical restrictions, minimum quotas, or training required to network market. It’s all about leverage. Organize your time and sponsor others so you can earn a small income on their efforts, while teaching them to do the same for others, so everyone wins and the small income you each make compounds. Unlike a pyramid scheme, nobody loses on this long-term strategy. 

How can Network Marketing benefit your business?

The main benefit of network marketing is it builds a network beyond your immediate colleagues, peers, and friends. Think of it, like social network marketing, where the network you build turns into a community that helps each other, builds off each other, and supports each other. The more you develop connections, the more your network will grow. It’s a snowball effect, especially since you can dive into parallel markets that coincide with your own product offers. For example, if you sell protein powder for athletes, think of what other industries your target market will like. Workout clothing, gear, and health foods probably come to mind. These industries can help build up your network as you help build up theirs.

Another benefit is that you will learn and become well-versed in the world of marketing. In today’s world, marketing and branding is everything if you want to grow a business. Being successful at network marketing requires marketing skills of course, and once you’ve grown this skill, you can apply it to any endeavor you’re working on. It’s a wonderfully transferable skill set and makes you incredibly valuable to any company. Network marketing is all about branding yourself, the product, and marketing it to the right audience, so learn all you can and practice it as much as possible. 

Finally, network marketing can help your business’s bottom line. Instead of spending a lot of dollars on traditional marketing and advertising, your promotion will be done through individuals. It might be wise in the beginning to start by hiring a professional copywriter or graphic designer to help get you off your feet, but once you’ve learned the tricks of the trade you can forego expensive channels like digital agencies, television ads, and print media advertisements. Find people who are willing to learn and grow their skills and lift them up as they will lift up your business.

Author: Carol Trehearn

On the DISPATCH: Headlines  Local  Opinion

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