MLM salespeople are, therefore, expected to sell products directly to end-user retail consumers by means of relationship referrals and word of mouth marketing, but most importantly they are incentivized to recruit others to join the company's distribution chain as fellow salespeople so that these can become down line distributors. According to a report that studied the business models of 350 MLMs, published on the Federal Trade Commission's website, at least 99% of people who join MLM companies lose money. Nonetheless, MLMs function because downline participants are encouraged to hold onto the belief that they can achieve large returns, while the statistical improbability of this is de-emphasised. MLMs have been made illegal or otherwise strictly regulated in some jurisdictions as a mere variation of the traditional pyramid scheme, including in mainland China.
Just because you paid for the lead, it doesn’t mean that you should get emotionally attached to each one. Buying leads is, and always will be, a sorting process to find your next business partners. If you are terrible at the phone, either, buy MLM leads or get a job at a telemarketing company. Gaining experience on the phone is worth its weight in gold. Every big recruiter or enroller is good on the phone. Most of them used to be terrible but experience made them better.
Great article and you nailed it regarding purchasing leads. I tried a few times talking with various people over the phone but none committed. I often wonder how the greats like Dexter Yager and Bill Britt (both amway reps) built their businesses to such a large magnitude without the use of social media. I certainly believe social media has made building network marketing businesses much easier than back in the day.
The internet has made it easier than ever for people involved in multilevel marketing (MLM) to find leads or people who might be interested in your product, service, or business. Instead of just reaching out to people you know or approaching strangers, you can create a website, build an email list, leverage social media, and develop referral programs to generate solid leads that can eventually translate to sales.
I’d like to point out a few things: statistically something like 96% of businesses fail within the first 5-10 years, which is a much more impactful loss, both financially and time wise, than the few hundred dollars one puts into whatever product they’re using in MLM. So realistically the success rate as a “self employed business owner” with MLM is probably a bit better than it is with launching a traditional business, or at least consistent with it. It takes discipline and tenacity that many people don’t have- that’s why they chose to remain employees in the first place.
Now that companies can easily sell directly to their customers online, people look to social media to get their recommendations for products, and the popularity of subscription beauty boxes, not to mention the fact that there are so many retail stores even in the most far out suburbs, I don’t see how the network marketing model is necessary anymore. The only people who defend them are the people who were trained to. This is because MLMs love to brainwash you into defending them against naysayers and demand you go on the offensive to anyone who might disagree. They may still have wide-eyed hope. It’s sad and terrible. The sooner these pyramid schemes are declared illegal and go out of the business, the better off the world will be.
According to software giant SAS, multi-channel marketing is critical. Reaching potential clients at every touch point can make or break a well crafted marketing campaign. Bizopps data leads may be the perfect supplement to a social media campaign hitting Facebook, Instagram, Twitter, and all. If you want to be on their mind then it is best to include their email, phone AND mail box…right?