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21st Century MLM Survival Guide - Part 3

khai

Posted by khai
July 27, 2008

image Choosing The Right Kind Of Product

The key to success when it comes to network marketing is largely dependent on your product. Because if you do not have a good product to sell, you will be out of business sooner or later.

If you want to know the criteria for choosing the right products, you must consider the following:

- Target Buyers
- Repeat Sales
- Pricing
- Physical or Digital

Target Buyers

One of the pitfalls when it comes to promoting your network marketing product is that we are oblivious to the fact that almost everyone else might not believe that our product we are selling is the best in the world.

This is very common ‘network marketing syndrome’ - thinking that our product is the best in the world because we are building that business!

If you want to achieve better success with product sales, you must be sure to promote to the right target market. It would seem absurd to sell lipstick to a man (unless that man has weird fantasies or wears it for special events).

Repeat Sales

One of the hallmarks of a successful network marketing company is a company that sells products that people would buy over and over again. According to market research, it takes quite a lot of time (and mental barriers to overcome) when it comes to acquiring a new customer.

If a customer buys a product only once, you have nothing to sell to that customers again compared to a product with repeat sales - they will buy the same product over and over again.

Pricing

The pricing of network marketing products is also dependent of the company’s compensation plan. You want to join a company that offers good payout, but at the same time you do not want to join a company that sets their payout so high up that it destroys the retail market!

As yourself this question - would you buy the product if you do not have a distributor’s discount?

If you wouldn’t buy it, then your product is not as valuable as you think.

Remember, you are only buying the product because you are the distributor… would you still buy the product if you are not a distributor anymore?

Physical or Digital

My preference is towards digital products. You do not need to stock up on products. You do not need to wait for shipment or delivery.

You do not have to worry if the company’s warehouse run out of stock. However, physical products are still quite viable because there is nothing that can replace the need for food, water, housing, clothing and transportation. You will never go wrong with the bare necessities.

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About the Author:

Khai is a network marketing analyst who specializes in online traffic generation, direct-response copywriting and has great great interests in dissecting MLM compensation plans. He has authored many network marketing e-books and has generated thousands of dollars on autopilot MLM income on the Internet.

Check out his site for more information about making money online.

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1 Comment so far
  1. borntosucceed July 27, 2008 10:36 am

    Thanks Khai for the article. I am still at the beginning of network marketing after being opposed to it for many years. It was until I found the right product, where the marketing was secondary to me. I started to learn more about MLM und was beginning to understand the marketing concept behind it. Unfortunately the product was exactly what you describe in your blog - although I understood the benefits and I was able to apply the product - most other people couldn’t identify with it. This makes it very hard to sell and you stop believing in the product yourself.

    But by having a better understanding of network marketing I looked for other opportunities and a great product, which is easy to sell and where the company is still relatively new to the market. I now have much better results and have build already a nice team with a steady income stream.

    I strongly believe you need the right product and the rest will happen!