What Is Network Marketing?
Network Marketing consists of over 2,000 companies in the U.S. alone with sales of more than $34 BILLION annually according to the Direct Selling Association 2014 review.
What exactly is Network Marketing?
Network Marketing consists of over 2,000 companies in the U.S. alone with sales of more than $34 BILLION annually according to the Direct Selling Association 2014 review. Approximately 18 million Americans participate in this industry and it is growing at an incredible pace. Network Marketing, otherwise known as MLM or Multi Level Marketing is conducted in approximately 100 countries worldwide making it a very prominent and accepted form of business. Trusted names like Colgate-Palmolive and Sprint participate in MLM marketing, just to name a few.
Network Marketing is based on the concept of “networking”. We all have a group of people that we know that includes our family, friends, colleagues and acquaintances. They in turn have their similar groups. Network marketing involves tapping into these networks to offer not only your business opportunity but to sell products or services that your company offers.
Companies chose to use a network marketing platforms to promote their companies because it is one of the most powerful ways to reach people on a personal level. This is accomplished by utilizing the “trust” factors that we all rely upon on a day-to-day basis. When a family member or friend says they like something, you are going to be more inclined to try it yourself. And if you like it too, then you may tell others. This viral experience is how companies can broadcast their messages quickly, and efficiently. The best, most powerful form of marketing, is a referral or recommendation from one person to another. It offers a company the least expensive and most effective way to bring their products to the masses.
Network marketing companies distribute their goods and or services through a network of independent distributors or agents. The company then rewards these distributors in the form of commissions and overrides for the products they sell. They also reward them for the new prospects that they recruit into the business.
Network Marketing can start successfully for you on a part-time basis without having to give up your fulltime job. You can continue working the business part time to supplement your income. Or you can choose to work it on a full time basis once it replaces your full time salary. One of the main reasons to get involved in Network Marketing is to gain financial freedom.