Whatever your business, network marketing can be an invaluable tool to promoting and selling your product or service. However, it is tempting when dealing with any type of multi-level marketing system, to ignore or belittle proper quality and value considerations of your business strategy. Network marketing can generate a lot of revenue in a short period of time, but adding value and quality to your product or service will stabilize your business and help to retain customers. With due attention to the value of your service, you will start to see more returning customers, and with a little more preparation and research, your profits will steadily increase well into the future.
There are seven important considerations to developing a multi-level marketing plan. These steps will increase your business’s productivity and customer satisfaction level. Like any plan for business improvement, these steps require a little extra work and include such topics as informative, well-structured training materials and coaching opportunities for your distributors or independent agents, and detailed analyses of your product or service in order to determine directions for improvement. But this added preparation will yield outstanding results.
Step One: Quality of your product or service. Compare your product or service to those of your competition. What incentive is there to choose yours over theirs? Make sure that you cut as few corners as possible. Use slightly better materials or supplies. Review your process of production and make improvements where applicable. Since your product and/or service is the foundation of your entire business, it is imperative to ensure that your foundation is rock solid.
Step Two: Form and function. Does your product meet it’s expectations? And is it designed in such a way to naturally achieve those expectations? Remember, the second half to a product’s overall quality is its form and function. Your customers have a need that they have chosen to quench with the purchase of your product or service. Make sure they are getting what they pay for.
Step Three: Time and place. With a quality product or service, properly formed and functional according to its purpose, you still need to consider whether the time and place are right for your business to thrive. If your business is fragrances and toiletries, and Hannah Montana has just released a line of designer fragrances, jump on the bandwagon! Discontinue the Britney Spears line and stay current. Make sure your products and services are aimed at current market trends and tailored to localized phenomena.
Step Four: Recruitment. In a Network Marketing campaign, your distributors and/or associates are your backbones. The Internet is currently full of get-rich-quick schemes, pyramid scams, etc., and your potential distributors are either going to be very leery, or thoughtlessly hopeful. Concentrate on the value of your product or service when recruiting new associates. Try to present a realistic picture of the opportunity you are offering them. Educated people are productive people. Be honest!
Step Five: Training and preparation. Your new distributors and associates and their downline distributors and associates will be infinitely more productive and enthusiastic if they begin their work with a complete understanding of what they are doing. Offering them detailed training materials and additional coaching will help to build their confidence and improve their success rate.
Step Six: Process and procedure. The more your Network Marketing spreads, the more you’ll want to ensure that everything is running as smoothly as possible so as to maintain a steady, stable growth. Your distributors and associates must have specific guidelines and procedural rules that should be strictly followed for the purposes of quality control, records keeping, customer retention, etc. This will improve your overall comfort level, your businesses productivity, and your associates’ efficiency.
Step Seven: Adaptation. Always pay attention to current market trends, local occurrences, fads, economic periods of plenty and poverty, etc. An informed, up-to-date marketing strategy will never fail to compensate for any shifts in customer expectations, needs, and desires. Make sure your product or service is exactly what customers want and need at that exact time and place, and convince them to utilize your business again for future purchases.
Just keep in mind that, while Network Marketing is an effective way to sell your products or services, it is also a complicated process that must be planned and implemented properly in order to maximize potential. Cater to your customer’s needs. Make sure your distributors and associates are properly prepared. Stability is important in business, and with it, you will ensure a prosperous and stable future.