If there ever was a business model that fully capitalized on the power of word of mouth, it would be network marketing. Sometimes known as “multi-level marketing” or MLM, it is a form of direct selling where recruits are made to sell the company’s products directly to their friends, relatives, and colleagues. Network marketing also usually involves encouraging one’s peers and customers to join the company as a distributor apart from being an active consumer.
Because of its direct selling model, network marketing relies heavily on the cultivation of relationships and on personal referrals. What makes network marketing different from direct selling is that participants also have the chance to earn residual income from their recruits. Referred to as “downlines,” these said recruits can potentially generate high volumes of sales, which in turn provide their sponsors or “uplines” with substantial passive income. Done right, network marketing can enable a person to retire early while enjoying a stable and comfortable income.
However, achieving success in network marketing is often easier said than done. One reason behind this is its relative novelty. The business model is among the most recent in the market, so potential recruits often express skepticism when presented with the opportunity. This makes it quite challenging to recruit downlines and thus leverage on the income they bring.
Another reason is because it often takes time to cultivate the necessary skills to be a network marketing success. LOVE marketing is one method through which this can be achieved. Few people are born salesmen, so a newbie’s first few attempts to market the company’s products may be fraught with failure and frustration.
Still, given the potential benefits of network marketing success, LOVE marketing is a concept well worth studying. LOVE marketing is basically an acronym that stands for the following:
1.) Listen. This is the most basic skill of customer service. To be able to provide your customer with the product that would suit him or her best, you first need to understand his or her needs. Regardless of how well-versed you are in the product listings of your network marketing company, it will all be for naught if you fail to recommend the right product.
So, what is the right way to listen? Simply put, allow your customer to talk and pay close attention to what s/he is saying. Try not to think about what to say next, but rather, what sort of need the customer is trying to tell you. It also helps to cultivate an attentive facial expression as this will encourage the customer to open up.
2.) Offer. Rather than simply offer a product, offer a service to the client. Most people are turned off by a hard sell (i.e., pushing a product down someone’s throat), so don’t attempt to go down this route.
Instead, offer to find something that will help the client. Starting off with, “I know of this product that might help you with your needs. I can demonstrate its use for you, if you’d like” is a great place to start. Then follow through with the demonstration if the client agrees.
If the client appears to be hesitant about purchasing the item, you can help things along by offering to make acquiring it as easy for the client as possible. Offer to assist them with making a payment via a credit card if they seem to be short on cash, or offer to have the item shipped directly to their home address.
3.) Value. As a surefire method towards network marketing success, LOVE marketing relies on the value you can add to your client’s life. Thus, always approach the sale from a value-added point of view. How will this product help the client? How will joining the company help your friend or your relative? Once you are able to come up with sincere answers to the previous questions, you are halfway to success.
4.) Enjoy. Lastly, you should also enjoy the process regardless of whether you close the sale or not. This is especially important if your long-term goal is to recruit the potential client as a down line. For others to believe in the company and the business model that you represent (and thus join in and sign up under you), they first need to see that you, as its representative, is thriving. And one surefire way to do that is to show that you are enjoying the process. You don’t need to laugh out loud at every turn, simply give a genuine smile and discuss what you love about the company and its products.