(May 2017 update: did this go under?) The sign up cost will make you do a triple take (almost four figures), but you get to set your own retail price on every product you sell. If you’ve got the skills to make people cough up the cash for their products (which, btw, are pretty legit), you could definitely make that money back. They’ve also been winning plenty of awards (even a growth award from the Direct Selling Association themselves).
I’m torn. I use Rodan+Fields but never considered being a distributor. Then a friend of mine introduced me to Jeunesse and got me fired up to be part of his team. I said “yes”. But now I’m wondering if the company is right for me because a) I read some negative stuff online about the company, the products, lawsuits, however the team is amazing! b) I actually really like what R+F has done for my skin therefore I feel I connect with the company more.
Boosting brand awareness should be the top most priority for any business that wants to grow further. Fortunately, improving your brand image in the eyes of your customers has become easier in today’s digital age. Because a good majority of your target audience is online. So it only makes sense to leverage targeted content marketing techniques to optimize and enhance your brand’s presence on the web.
If you have AWeber, Infusion Soft, Mail Chimp, it doesn't matter what you have. It all integrates. And the forms are all pretty self-explanatory, so you just click on the form field. You can choose what kind of form field it is, whether it's phone number, name, any of that stuff. If you're shipping a physical product like a book, you're gonna want to add shipping address fields down here.
MLM has stretched its sticky fingers out into just about every product market out there, so it’s kinda hard to do something new nowadays. But Jamberry Nails did it. Their adhesive, custom nail designs BLEW UP when they hit the direct sales floor. They built up an army of over 100,000 consultants in the time it takes most people to get a mediocre pay raise at their 9-5. https://i.ytimg.com/vi/xgP0Ksaj9Ws/hqdefault.jpg
Multi-level marketing companies are not required to release information about the average income of distributors in the United States. However, some MLMs do release this information in what is called an income disclosure statement. If you would like to see the amount of income gained by distributors on average for a specific MLM, search the company’s name in Google + “income disclosure statement.”
The structure of MLMs is very similar to a pyramid scheme. This doesn’t mean that all MLMs are pyramid schemes, but some certainly are. Those interested in pursuing a career in multi-level marketing should do research before joining a particular MLM. Generally speaking, if the bulk of the money you stand to earn comes from recruitment rather than direct sales, it’s wise to be very cautious.
This Driving with John Chow episode will break down the four components (the lead magnet, tripwire, core product, and profit multiplier) of a proper sales funnel. The reason most new Internet marketers don’t make money online is because they are missing the last two components. Without them, they’ll be lucky to break even on their advertising money.
The Direct Selling Association (DSA), a lobbying group for the MLM industry, reported that in 1990 only 25% of DSA members used the MLM business model. By 1999, this had grown to 77.3%. By 2009, 94.2% of DSA members were using MLM, accounting for 99.6% of sellers, and 97.1% of sales. Companies such as Avon, Electrolux, Tupperware, and Kirby were all originally single-level marketing companies, using that traditional and uncontroversial direct selling business model (distinct from MLM) to sell their goods. However, they later introduced multi-level compensation plans, becoming MLMs. The DSA has approximately 200 members while it is estimated there are over 1,000 firms using multi-level marketing in the United States alone.
How can you afford to outspend your competition? Big companies have massive budgets that most people could never compete with. If you’re just starting out, you probably don’t have a million dollar monthly budget. His answer is direct response marketing using online sales funnels. The goal is to set up your funnel so that for every $1 you put, you get out $2. If you could do that, then the amount you can spend is unlimited. But what is a funnel?
In April 2006, the FTC proposed a Business Opportunity Rule intended to require all sellers of business opportunities—including MLMs—to provide enough information to enable prospective buyers/participants to make an informed decision about acquiring/joining a business venture with information disclosed about the average likelihood of monetary profitability (and the extent of monetary profitability, if any) of acquiring/joining the business venture. In March 2008, however, the FTC removed "Network Marketing" (i.e. MLM) companies from the proposed Business Opportunity Rule, thus leaving MLM participants without the ability to make an informed choice of entering or not entering MLMs based on the disclosed likelihood of success and profitability:
Although each MLM company dictates its own specific financial compensation plan for the payout of any earnings to their respective participants, the common feature that is found across all MLMs is that the compensation plans theoretically pay out to participants only from two potential revenue streams. The first is paid out from commissions of sales made by the participants directly to their own retail customers. The second is paid out from commissions based upon the sales made by other distributors below the participant who have recruited those other participants into the MLM; in the organizational hierarchy of MLMs, these participants are referred to as one's down line distributors.
Presales: If you know exactly which product you want to sell but haven’t created it yet, then preselling might be something you should look into. There are several benefits to preselling including: generating revenue before your product is launched (which you can later invest in your product), testing different pricing points for your product, validating demand for your idea, gathering feedback about your product before it’s launched.
Hello Miles, thank you for the valuable information. I want to get started as an affiliate marketer but I am afraid to use my real name. I have a PhD in Public Health from a reputable university and this stops me from marketing products because I am afraid I may be judged for marketing products that may not be based on scientific evidence. I want to have the freedom to sell all products. How do I get over this block? Can I still build a list without using myself as the brand? How do I succeed if I am working behind the scenes? What name do I use? A fake name or use a company name? Thank you!
I appreciate this comment. I’m a doTERRA gal. When I signed up I said I’d never sell. I just wanted to buy and use the oils. Then because of my love for them, people started coming to me for education and asking where they could get oils. So now I sell them. I’m not a sales person. I can’t bug my friends about stuff. But I’m growing this business because I truly believe in the products and use them every single day. I may not ever become rich from this and that’s OK with me. I won’t consider it a failure. Every person I help is a success in my book!
Suppose your furnace goes out in the middle of winter. Your problem is obvious: you need a new furnace. And the solution is easy — you need to call HVAC providers in your areas for quotes. But say you need a new car. Should you look for an SUV, a compact car or a mid-size sedan? Even vaguer still, if you’re frustrated with how much your accountant is charging you to do your business’ taxes, you might not even be familiar with all the different solutions, like cloud-based accounting services.
Webinars: With webinars, you have an engaged audience that’s akin to being in the same room with others while pitching whatever product or service you’re offering. This is a great way to sell high-ticket products and services as well. Sure, lead to application to phone call is great, but a webinar really sells like there is no tomorrow. Most people also like to combine the webinar with an application, pushing them to the app after the webinar is completed and closing the deal on a phone call.
At this stage, we’re looking at how your solution benefits people from multiple angles. Every potential customer is at a different point in the sales funnel and having a multi-pronged attraction phase will help you to generate more targeted, high quality “hot” leads than just casting out your digital net and hoping for a bite from any traffic source. https://stephenesketzis.com/wp-content/uploads/2014/09/webinar-pages.png
Visitors who move on to the next stage are those that make a purchase, so any indication that the buying process has begun means success — from verbal confirmation of a deal’s acceptance to the receipt of a formal contract. However, if Norman uses an online shopping cart system, he might also find it useful to track abandonment rates, as reaching out to these customers could help reveal reasons visitors aren’t progressing to the next stage or provide salespeople with leads that can be easily closed with a single outreach phone call.
Kelly is the founder and director of Aggressive Growth Marketing. Known for unprecedented levels of ambition, drive and client service, Kelly has fuelled AGM from the ground up and has taken it from a part-time start-up to one of the fastest rising stars among digital marketing firms in the UK. Currently, her team provides top-notch creativity, analytical thinking and data metrics for companies seeking next-level growth. Behind Kelly’s vibrant, friendly personality is a high-energy professional with deep familiarity in forecasting, budgeting and maintaining a results-driven path to success. Thinking outside the box, building innovative campaigns, and never losing focus are probably the most commonly-used descriptors you’ll hear when someone describes Kelly. Among her many core competencies, growth strategy development is by and large her biggest strength, as it encompasses a whole suite of skills that boost a client’s profile and revenue. These include around-the-clock competitor analysis, new media and technology strategies, monitoring target markets and keeping KPIs synchronized in order to stay a cut above the competition.
For that reason, while you might want to experiment with tracking all the different metrics below (or any others that you think could be valuable), it’s best to choose a core 2-5 to focus your attention on. You can always add more later, but be sure you’re actually making changes based on the data you generate from these few metrics before expanding your data operations.
Social media: Social media platforms are great marketing channels for the top of the funnel. Social media users spend a lot of time in them and usually spend a good amount of that time consuming content shared by other people. When it comes to getting non-paid traffic from social media channels there are two main ways to do it: you can grow your own social media audience and share your content with your followers, or you can participate and contribute to already existing communities. https://www.nichepursuits.com/wp-content/uploads/2018/04/WordPress-ClickFunnels.png
Unfortunately, the reason why we call it a marketing funnel instead of a marketing journey or marketing waterfall is that not everyone who enters your funnel will end up buying. At each stage in the buying process, you lose some potential customers, but a good marketing funnel will keep those losses to a minimum and produce the maximum number of sales from your marketing.
Many reps struggle because they don't treat their MLM like the business it is. For some reason, many MLM businesses are viewed and treated differently than a traditional business, which is a problem. It doesn't matter what business you start, if you don't market, sell, and do the activities that make money on a consistent basis, your business will fail.
A marketing qualified lead (MQL) is a prospective customer who has demonstrated a particular level of engagement that leads the marketing team to conclude that real sales potential exists. The level of complexity involved in this assessment will vary based on the resources available to the team. Norman, for example, might conclude that anybody who fills out his online demonstration request form is an MQL. A company that’s using a marketing automation program might be able to set the bar to MQL qualification at something involving a combination of viewing specific pages, interacting with certain forms, and opening a certain number of email messages.
You see, most network marketing companies have company branded websites that are designed to make product sales. And some of them do a fantastic job at it. But, what will happen if that prospect lands on that website and they are simply not ready to buy, right now. Chances are you have now lost that prospect or potential customer because you had no way to follow up with them, or even stay in distant contact.
When these would-be buyers become interested enough in her products, they request an online demonstration by filling out the form on her landing pages. These requests are routed directly to her salespeople, who, because they’re dealing with warm leads, close roughly 50% of the customers to whom they demo. Molly’s company closes more sales than Norman’s, with fewer salespeople and no time spent on cold calling.
I was a hard NO to network marketing companies because my perception was all the things you listed – expensive to start, most people lose money, etc. I’m a former financial analyst however, and once my first daughter was a year old, I was at the breaking point with the corporate world too! Then I was introduced to the social marketing company I’m now a part of (and have been for 2.5 years now), and am happy to say that my income now matches that of my corporate job, WITH the perks of setting my own schedule, working from home, being present for my children, etc. So, perhaps the issue isn’t with the industry in general, but PLEASE do your research! A solid company should have easy to find compensation summaries so you can see what the average incomes and timelines to promote are, as well as low startup costs & no inventory requirements. Yes, it is work!! But it can also be a wonderful option if you’re willing to put in the time and effort.
Want to avoid doing everything else and simply charge people to build out their own funnels? If you’re a great funnel builder but you’ve been relatively unsuccessful in launching your own offers, you could become a ClickFunnels Certified Partner and charge others to build out great funnels. This takes really knowing and understanding the software front and back, including all its automations and integrations. https://winningwp.com/wp-content/uploads/2017/11/ClickFunnels-Webinar-Templates.jpg
You see, most network marketing companies have company branded websites that are designed to make product sales. And some of them do a fantastic job at it. But, what will happen if that prospect lands on that website and they are simply not ready to buy, right now. Chances are you have now lost that prospect or potential customer because you had no way to follow up with them, or even stay in distant contact. https://www.growthmarketingpro.com/wp-content/uploads/2018/05/cropped-cropped-growth-marketing-pro-2.png
It's completely totally an informational page, and then it clicks you to the next page in the funnel. This is not meant to be the end of the funnel. This would just be, this second page, I guess it could be any page type you want it to be, but the link at the bottom, what you're gonna want to do on the second page, regardless of what page type it is, is you're going to want to make this a URL, a link to a URL.
Engagement (aka, brand awareness) - Today, brand awareness often begins online, typically on of one the many social media platforms, like Facebook, Twitter, YouTube and LinkedIn, where consumers discover brands. The goal is to reach a large number of people and start attracting potential customers from the masses. Engagement can take a variety of forms, including free offers for educational content, social media posts or ads or reviews from friends and family.
Independent non-salaried participants, referred to as distributors (variously called "associates", "independent business owners", "independent agents", etc.), are authorized to distribute the company's products or services. They are awarded their own immediate retail profit from customers plus commission from the company, not downlines, through a multi-level marketing compensation plan, which is based upon the volume of products sold through their own sales efforts as well as that of their downline organization.
Many people in this profession have failed for a couple of decades until they learned how to make MLM businesses work for them. This begins with a solid understanding of why business ventures fail. In MLM business, there is something called the Pareto Principle that has some significance. This is perhaps the number one reason why you’ll fail in your new business enterprise.
You can either go one or two routes. You can go after specific niches like real estate agents, nurses, teachers, and you can speak to those people specifically on whatever their pain points are with their job. Or you can go after existing network marketers that either may not be happy in their current company, because they're looking around. They've been in it for years and they haven't had success or maybe network markers that have been out of their company, and they're looking, they're just open, right?
Great job on the top 25 MLMs. Really like what you’re doing for the industry as a whole. Your analysis is spot on. However, a closer look at retention rates for each company might give you another perspective on the value proposition of any given company. As a Doterra Wellness Advocate we are told by our corporate execs that we have a 65% retention rate with customers repurchasing the product within 3 months. And that if we based it on the industry standard of 12 months our retention would go up to 85%. I’m told that this is unprecedented in network marketing. So I’m believing that Doterra is succeeding because its selling a product that works and that users and word-of-mouth drive the business in the long run.
The basics of the modern digital marketing funnel include four key stages (similar to AIDA): attract, nurture, convert and delight. However, to accommodate the many different kinds of marketing projects required to compete in today’s fierce online marketing battleground, the funnel steps have expanded. Numbers vary, but these 10 steps often comprise well-oiled digital marketing funnels. The first six stages take place before and up to the point of sale. The last four occur after the point of sale. Here’s a brief overview: https://blog.meshagency.com/wp-content/uploads/2018/10/ClickFunnels-Alternative_Mesh-Blog-Post_Leadpages-2.jpg
130+ Free Landing Page & Popup Form Templates: Leadpages gives you lots of templates to choose from to create your landing page. While the number of templates are less than Instapage, they are still more than enough to create any kind of landing page you want. But what makes Leadpages better than Instapage is that it has templates for opt-in forms too.
Today’s online consumer is much better educated than the consumers of yesteryear. While they enjoy learning about new products and services from brands, they hate being sold to. They digital buyer’s journey has many different touchpoints, and different people follow different patterns. That’s why you need to invest in more than one middle of the funnel marketing strategy.
“I wouldn’t be where I am today without the knowledge I gained from [Michael’s] live events and training CDs. Two MUST-HAVE [programs] in your CD library should be ‘The Total Success Pack‘ and ‘Building a Better Life.’ I’ve listened so many times I’ve lost count. PRICELESS information for your journey to success in business and in life… ‘Easy to do. Easy not to do’ The choice is yours.”
I agree with you that much of the industry is flawed, but what about an MLM that has a service rather than a product such as electricity. It’s not like that could go out of style or that once you buy it you don’t need it again or that your monthly supply is too much and you’re going to stop the monthly subscriptions. I can honestly say that I cannot stand most MLM companies because regardless what you believe or how much you like the product, if you have to try to convince someone else to use it then inevitably the system is flawed and eventually your residuals will dry up. Electricity though, that’s different in my opinion, no one has to convince me to use it, it just comes by default. Find me an MLM that is not selling so much as showing someone an alternative to what they already have to pay and I’d be interested. https://www.onlinedimes.com/wp-content/uploads/2017/10/builder.png
Sales funnel conversions – If you’re going to choose only a few metrics to focus on, make sure this is one of them. Essentially, this metric involves tracking the number of prospects that enter your funnel at any point and then convert into customers. As you make changes to your marketing strategy in the future, seeing this number improve will let you know you’re on the right track.