The truth is, this article would need to be 10,000 plus words in order to teach you everything. And although I'll get you part of the way there as you read on, I highly recommend picking up Russell Brunson's Expert Secrets FREE BOOK in order to get you 100% of the way there. It is honestly the most thorough explanation with details on how to position yourself online and build your MLM business using knowledge you already have. https://royaltyfunnels.com/wp-content/uploads/2017/10/ClickFunnels.png
The overwhelming majority of MLM participants (most sources estimated to be over 99.25% of all MLM distributors) participate at either an insignificant or nil net profit. Indeed, the largest proportion of participants must operate at a net loss (after expenses are deducted) so that the few individuals in the uppermost level of the MLM pyramid can derive their significant earnings. Said earnings are then emphasized by the MLM company to all other participants to encourage their continued participation at a continuing financial loss. https://howtoretireearly.org/wp-content/uploads/2016/06/free-285x300.png
As you can see, each color-coded piece of the funnel pictured above roughly corresponds to stages 2-4 in the buying process. The widest tier at the top of the funnel represents “awareness,” the point at which potential customers are beginning their information search. The second tier is “consideration,” roughly corresponding to the evaluation of alternatives described in the purchase process above. And finally, the third tier, “decision,” is self-explanatory.
However, when you succeed, you can definitely make lots of money online. Not just a little bit. Some successful ad agencies are making five to six figures per month in revenue. That’s significant by anyone’s standards. But then there’s people like Nicholas Kusmich who are absolutely crushing it in the ad agency game. Just ensure that you do your due diligence before you sign up to anyone’s program or buy anyone’s course to start your own agency.
If your new customers are greeted by a thoughtful onboarding process, personal attention, and all the resources they need to use your product successfully, they’re more likely to confirm to themselves that they made the right choice. And when they’re confident, they’re more likely to pass on their satisfaction to others in the form of recommendations and product endorsements. If, on the other hand, your new customers experience disappointment after their purchase, they’re more likely to request refunds, write negative reviews, and recommend that others in their social circles purchase from your competitors.
Most prospects will enter this stage after identifying Norman’s company as a possible alternative and completing the information search process described in Stage 2. However, some customers might be introduced to his brand after completing Stage 2 with his competitors, as in the case of an industry blog running a comparison chart of the different competitors in his space.
Great article Matt! I have a product-based business (skincare to be precise) and I’ve been doing a lot of research on sales funnels over the past few days but only ever come across examples for service-based businesses and struggle to apply those to my business. I do offer a free skincare guide at opt in but can’t think of anything else for the follow up emails to create trust as well as a limited time offer. Would you have any suggestions? https://blogv2new.clickfunnels.com/wp-content/uploads/2016/12/clickfunnels-tracker-1024x442.png
The discovery stage of the online marketing funnel consists of the first few visits to the website. Visitors are often focused on consuming content and learning more about the company and your products/services. Often considered the research phase of the purchasing process, consumers are looking to learn more about why they should choose your company. While quality, unique content is imperative at all stages of the funnel, during this stage, content is extremely important because users are seeking out information. Additionally, it is direly important that you have completed marketing research and implemented a content strategy that delivers your company’s message. In this stage of the digital marketing funnel, the goal is not to overwhelm the consumer with offers, but provide the necessary information to be considered during the purchasing stage.
As with any business venture, it’s important to manage your expectations when signing on with an MLM. Marketing materials may sell you the idea of making good money without leaving your house, but business ventures like these take time to deliver a return on investment. Not every sales agent will be making $100,000 per year right away or even five years down the line. Be realistic about how much you’re likely to sell and how much you’re likely to earn.
You can also convert those ebooks into audiobooks using ACX, which will publish to Audible, also owned by Amazon. You can hire a producer or do it yourself. If you don’t have the funds for a producer, you can always share the revenue by doing a royalty split. You’ll need to give up some of your income, but if you don’t have the funds, it’s an easy way to get the audiobook produced for free. http://smartbusinesstrends.com/wp-content/uploads/2018/03/ClickFunnels-SamCart-ShareFunnel.png
Having gotten your advertising, lead generation and sales up and running, you must be aware that the work continues, it doesn’t stop there. There is something otherwise known as lead nurturing. Initiate a cordial relationship with your customers through lead nurturing by having a regular communication with them. Most times, email broadcast, SMS updates or phone calls are advisable.
To stay safe from pyramid schemes and MLM scams, arm yourself with knowledge. Learn about the direct sales industry as a whole, research MLM companies carefully, and determine if you're a good match with your sponsor. The truth is, while you can get rich in MLM, statistics show that less than one out of 100 MLM representatives actually achieve MLM success or make any money. However, that's not necessarily the MLM business' fault. Most athletes never make it to the Olympics, but that's not sport's or the Olympics' fault.
Nate is the CEO and Founder of NateLeung.com, a website dedicated to helping regular hard-working people to build wildly successful businesses they can be proud of and pass a legacy to their families. He is also the author of The Rise of the Digital Nomad: How to escape the 9 to 5 and earn a profitable income online. Step by step, Nate will show you how to build a business from scratch with the right strategies and systems in place so you can earn the income you know you deserve and have the kind of life you have always dreamed about.
Apparently, he did everything he was asked, from buying monthly training products to attending conferences, which can get expensive. Today, those costs are greatly reduced. The Internet, online training, flat-rate long distance and/or cell phone service, and free and affordable online marketing have made building any business, including MLM, much more affordable.
I highly recommend you at least have one funnel in place to generate customers in your business, whether it's a service or product-based business, because it will help keep your company safe. It will help keep you safe from the FTC coming in and saying, “Look, you just have a big down line full of people that only buy the product themselves. You don't have real customers. Thus you're not a real business.”