Multilevel Marketing (MLM), also known as Network Marketing or Direct Selling, is a quick and affordable way to start and have your own business. Like in any business, in MLM business also, you make money by selling the products or services of the company with whom you partner. However, apart from selling, another feature and perk of Network Marketing are that you even earn by recruiting others in the network business. You also earn a percentage of the commission of sales done by your recruits, known as the residual income. So, MLM business is not primarily about just selling something but about building relationships and sponsoring recruits to grow your sales network. This article gives you tips on sponsoring new members – known as your downline and reap the benefits of residual income.
What Happens After You Start a MLM Business ?
You either fell in love with the products or services sold to you by the representative of a Direct Selling company or got excited at the prospects of owning the business that made you take the step of joining a Direct Selling company. After some time, you find the business going nowhere and suddenly start wondering whether you have made the right decision in joining the business. To avoid being in such a situation, you must always plan well and make an informed decision before collaborating with a company.
Growing Your Downline Enables You to Earn Residual Income
Always ensure that the company products you will be selling are unique, useful, and not available easily off the shelf. You must be comfortable selling them and strongly backed by your company with brochures, presentations, and other materials. Selling the offerings will enable you to earn by way of the commission. Still, recruiting salespeople can enable you to earn incentives plus a part of the commission on the sales made by your recruits – yes, without taking any efforts from your end!! It is known as the residual income. A strong and active downline can ensure the growth of your business. That is the reason why you must work hard in sponsoring, recruiting, and building your network, i.e., your downline. Listed below are some of the effective ways in which you can sponsor new members.
Implement a Targeted Lead Generation Strategy
Your friends, relatives, colleagues, and other close acquaintances are obviously going to be part of your warm list whom you approach initially to introduce about your business. However, it is advisable not to force them or irritate them into joining your business. After a while, your warm list is likely to get exhausted, and you are likely to be blank. That is the reason why you should have a constant flow of leads in your pipeline to keep your business going ahead. It would help if you implemented a lead generation marketing strategy that combines traditional and online ways. Once you have the leads, next, you shortlist them.
Shortlist Potential Team Members
Look out for members who are keen on starting a home-based business. Ensure that they are dedicated and serious about the business. Not those who want to do business for the sake of doing it, not those who are half-hearted. It will help you in building an active downline. Once you shortlist your prospective downline, you need to approach them the right way and do further follow-ups.
Approach Potential Recruits the Right Way
When you are face-to-face with a potential sponsor for the first time. Do not directly introduce or talk about your business. Engage prospects in a time frame that suits their decision-making process. Have a couple of rounds of discussions, build a relationship. Then open your cards by introducing your business to them.
Keep Your Downline Activated
Once you have recruited a member, ensure that you keep them motivated. It would help if you saw that they are provided with printed materials, videos, and other materials. It would help if you saw that they provided with the necessary training. You need to mentor them. It would help if you kept them motivated by arranging outdoor meetings and other activities. Always remember, the success of your downline is important for the growth of your business.
Conclusion: Recruiting your downline needs a systematic approach. Patience holds the key.
It is not possible to recruit and sponsor someone overnight. This would help if you had patience and follow strict disciple. It takes some time to know people, understand their needs, and build relationships with them. You need to share and not sell your business. Now that you are already into your Network Marketing business. But haven’t been able to go any further, stop thinking of quitting. You now know the secret of growing your downline and, with it, your business. All the best.
