So questions will be what are the merits of network marketing? What are the things that point to the right network marketing programme and how do you spot a programme that is likely going to flop or fail.
The first thing you will want to know is what is the product that this company is marketing? Come to think of it, network marketing is primarily about marketing something and the network aspect of it is just to use a proven strategy to promote the product. However, in recent times, a lot of network marketing companies have come up with apparently fantastic plans and reward system with absolutely nothing in the centre of their marketing as the product. Let us face it, such programmes are simply ponzi schemes or pyramid schemes and the only way they get their money is through recruiting people for their programme. Now, the product may be goods and services, tangible or virtual. The important thing is that it is a product that solves a need.
Aside from having a product, you may also want to determine the kind of product it is and what is involved in the marketing. For example, one of the most common products in network marketing is food supplements, multivitamins. However, these require carrying these products around in the bid to market them to others. If you are like me, and you don’t like the idea of carrying things around, then that may not be for you. If you are however the kind of person who is given to marketing services and like ideas and the power of the internet, then you can market travels like I do. There was a time that I was involved with a network marketing programme, despite the fact that the product is not physical but virtual, a lot of my prospects could not relate to the product as the whole idea sound alien and strange to them. That is another r consideration, no matter how noble the product you are marketing sounds to you, do you have a market for it?
Now that we have settled the issue of product, you may want to check the requirements of the company. For example, will you be required to purchase products that you are not likely going to use and may eventually turn your house into a dumping ground? Many of the network marketing programmes requires you to purchase a minimum amount of products monthly to keep your reward. This sometimes become a problem more so when you don’t necessarily have need for the products at that point in time.
Some programmes will also require that you must recruit a particular number of people for a specified period of time, failing which you lose your membership as well as your money. Given the fact that we have different level of talent at marketing, this can become a problem for some who are not as strong as others. As a matter of fact it may be a way of getting from the weak to give to the strong as bonus as they call it. However, you may want to look for a programme that encourages the strong to pull up the weak. A programme that has inherent in it more reward for the strong in helping the weak. In other words, as the strong is helping the weak up he is increasing in the programme and at the same time helping to make sure that the weak improves.
Another important consideration will be the management team of such companies. Many companies come out with fantastic programmes and compensation plans, however they hide behind the internet and will not declare the management team. The y are faceless as it were and you never get to know who they are. In the eventuality that the programme fails, you have nobody accountable. You will do well to pitch your tent with a company that is open with its management team and such a team is of proven track record.
You may also want to know if the company is under the control of any regulatory body. Some network marketing companies of repute are now registering locally in different countries where they do business in order to subject their activities to the scrutiny and regulations of the local regulatory bodies. This will protect investors’ funds.
Finally, you will like to look at the compensation plan. Some compensation plans are a little complex for the common man on the street to understand. Some are made to just enrich the people to made the programme or people who come in early, while the people coming in later just labour away trying to make a little in the programme. I advise that you look for programme that has a simple reward system that is easy to understand, and that makes sure that both the early comers and the people who come in later can earn as long as they work hard. Such a plan must ensure that one person who is not working cannot stall the progress of people who want to work as well. I recommend a simple reward plan like the binary system any time because it is easy to understand and favours both the uplines and the downlines
In conclusion, no matter how fantastic any programme may look or sound at the first, you owe yourself a duty to research more into it and make sure that it is for you and that it is programmed for you to succeed
