Are you starting out in network marketing? Are you starting out in affiliate marketing? Maybe you are doing one or the other, but are unsure of the difference. You just heard it was a great way to earn money, so you want to try.
Before you start, know this: Marketing is a business. You are starting a business. Those who have chosen affiliate or network marketing as a profession and have had success treat it as a business.
This is your business start up. You are starting out as an entrepreneur. A marketer, yes, but you are, first and foremost, an entrepreneur.
When I’d complain about a task as a kid, my dad would say, “just buckle down and do it!” It’s that attitude that you have to adopt to get started right in the network marketing business.
Multi Level Marketing Statistics
There ae some pretty daunting statistics out there. If you read them, you probably wouldn’t bother getting started in this type of marketing.
Oh, and by the way, here is a sampling:
- 50% of network marketers drop out in the first year; 90% leave within five years.
- 25% of participants manage to make money
- 90% or more make only a couple hundred dollars annually in commission
How will YOU beat the odds?
Believe it or not, you can!
1. Treat It Like A Business
If you were going to open a hair salon, you would need to know more than just how to style hair. There is a good chance you would begin by learning how to get the actual business going. You would consider finances, location, how your new business would look, and who your customers will be, among other things.
The network marketing business is no different. You need to learn how to get the business going. Learn from others who have had success in network marketing. Consider the “tools of the trade”. What will you need to know to have success and not be another statistic?
Too often people just dive right in without any plan or idea of how they will begin earning money.
They believe the hype.
- Earn big money in the first week.
- “We do it all for you” and you pay next to nothing (or something similar)
- Or they meet someone who is doing it – and they make it sound so great!
That’s not reality. It may not be lies, but it’s not reality for almost everyone.
2. Follow Your Passions
I’ve never actually liked that word, “passion”. It’s so overused. In this case, though, what are you interested in? It might even be something that you have always wanted to get to know better. That’s fine, but just be aware that you will have to learn.
You shouldn’t start in network marketing just for the money. It should also help to fuel your interests.
If you decide to do something just for money you may be doomed to failure. It won’t satisfy you long term.
3. Know Your Audience
Like any business, you will need to consider who you will serve. In marketing, we call that “perfect customer” an avatar.
I often teach people to picture that person and write down your thoughts:
- What do they look like, and how old are they?
- where do they live?
- what car do they drive? Make, model, age, condition?
- what programs do they watch on television, or do they watch television?
- What kind of phone do they have?
- Where do they shop? (groceries, clothes, jewelry, etc.)
- most importantly, what are they going through; how can you help them?
- add everything and anything else you think of – know them better than they know themselves
Be very descriptive; then give your avatar a name.
Somehow, this is very hard for most people to do. If you do it, though, your chances of success will escalate because you will be able to market directly to that person.
4. Know How To Market
I know this seems obvious, but do you? Know how to market, I mean?
Marketing is a skill that you have to learn. Luckily, examples of marketing are everywhere. The only problem, some examples are good, and some bad. It might be hard to tell the difference.
So you might have to do your homework. Read a few books. I could recommend some, but I don’t want to cheapen this article with affiliate links. Just go to Amazon.
This article is not about making a buck or two – it’s about getting you off on the right foot!
5. Be Sticky
Okay, I’m just trying to be a little funny by saying “be sticky”.
What I mean is stick with it! You won’t have success overnight, but if you work with others who can help you, hopefully success can come more quickly.
One other thing – when I say “stick with it”, I mean look at your options for programs, and select one that you will enjoy working within OR promoting for the long haul. That’s why the first four steps are important.
The Bottom Line
Network Marketing, Mulit-Level Marketing, Affiliate Marketing.
These are all businesses. If you want to start, even part time, begin by treating it like a business. If you do that, your chances of success, and avoiding being a negative statistic, will increase tremendously.
Plus you can help correct the statistically bad rap that marketing has as a business.
Just “buckle down and do it!”
Suggested Reading from the Blog:
Affiliate Marketing vs Network Marketing
Looking for Your Online Business Blueprint?
Is Affiliate Marketing Too Competitive?
Very interesting article. I’m just starting my adventure with digital marketing and post like this are extremely helpful. I completely agree that key to success is to focus on area you know and you love. Only this will give a chance to truly engage in building business. Looking forward to read more of your advices and tips.
Love the attitude – “just buckle down and do it!” It’s that attitude that you have to adopt to get started right in the network marketing business.
Hello Marsha! Wow, I was really surprised when I looked at the statistics on your post. It’s crazy how 90% only make a couple hundred annually from marketing. I can imagine how those who are highly successful at marketing will attract just about anyone who is new to all this. But those who are new are not aware of the work involved and hence many of them quit before finding success. Knowing that, I will definitely continue to keep trying for affiliate marketing. Definitely found your 5 keys to success really helpful! Thanks for writing this article!
You’re welcome, Mike! Keep working – it’s worth it!
It’s definitely smart to avoid multi-level marketing and its schemes. In fact, I’ve cut out people from my life whoever mention it. I’ve had friends turn fiesty in almost no time when I asked questions about their “business opportunity” that they knew they did not want to answer.
It’s definitely wise to take a solid approach towards making money and not rely on a pyramid scheme where your only way to make money is by signing up people underneath your network. Thanks for sharing your 5 keys to success for this!
Thank you for sharing the five tips to success in business. I think the most important key here is to follow your passion first and everything else will fall into places. If you are doing something that you are not passionate about then you will give up on it. Treating it like a business is also important. I agree, Buckle down and just do it like Nike says.
I like your presentation of all forms of marketing without having to shame any one of them. I have seen people shame other forms of marketing, there’s a difference between shaming and pointing out flaws without having to disrespect the business because people are making money from it. it is very true to buckle down and do it, it applies to everything as well. thank you for this and thank you for your encouraging post. to me it is encouraging. because there is a place for doubt and losing hope and confidence when one is starting out. thanks again.
You are so welcome, Chika!