How to choose a good online MLM or network marketing program?
You've heard many horror stories about MLM /network marketing
programs. But what you are really hearing about are stories
relating to illegal programs or pyramid schemes. Basically,
pyramid schemes have no real, viable and worthy product.
Obviously, you do not want to participate in such schemes. You
want to be associated with a high quality product that you will
readily endorse.
Why participate in a MLM or network marketing company then? The
lure of joining a MLM has great appeal: It allows you to work
part-time, gives you an opportunity to build residual income and
you become a small business owner. MLMs have created many
millionaires. Those who are successful testify that it is a
result of hard work, continuous prospecting, motivating and
training others.
The concept of MLM is simple. Instead of paying huge advertising
sales and marketing costs to promote their products, MLM
companies convert their loyal customers into a huge sales force.
They rely on word-of-mouth to do the marketing. The commission
from the savings on employing sales staff, advertisement and
promotions is paid to you instead. It is a win-win situation for
both the company and the MLMer.
If you decide to join one, please note that many MLMs require an
initial investment. Before making such an investment, here are
10 tips on how to choose a good MLM program to promote:
1. Choose a program that you like or have some interest in. The
best way to know if this is a program you wish to promote is
whether you are interested in purchasing the product for your
own use. If so, chances will be that there will be others who
will be interested in the same program.
2. Look for a program that is of high quality. For instance,
choose one that is associated with a top expert or many experts
in the particular industry.
3. Participate in ones that offer real, viable products.
4. A program that caters to a growing and target market will
ensure that there is demand for your referral. Do your research,
participate in discussion forums to get feedback.
5. A compensation plan that pays out a residual income and a
payout of more than 30-50% will be great. Avoid wasting time
with programs that do not reward you substantially for your
efforts.
6. Be aware of minimum quotas that you must fulfill or sales
target that is hard to achieve. Some MLM companies impose a
pre-requisite before you get paid.
7. Choose one that gives you plenty of tools and resources to
help you grow the business easily.
8. For online MLMs, check whether the company has a proven
system that allows you to check your network and compensation.
There must be a reliable referral tracking system.
9. A program that offers strong incentives for members to renew
their membership each time. Obviously, one that provides
continuous help and upgrades for its product and business will
tend to retain its members and will ensure growth of your
network.
10.If your upline is someone you know, you can always ask
him/her to spell out if there is any downside risk involved.
With millions of people coming on the internet, an online MLM
will be a great business to be in. You can easily recruit
affiliates from all over the world, keep in touch with them
constantly and automate your business easily.