Mary Kay Inc. is a private company founded by Mary Kay Ash on September 13th, 1963. By 1976 this direct selling company was large enough to be traded on the New York Stock exchange. Today Mary Kay is one of a leading brands of skin care cosmetics and color cosmetics in the industry.
The company is also a network marketing, which means they provide a product based direct selling marketing scheme to individuals who are relying on constant recruitment of new sellers who purchase inventory so those who recruited them can earn commissions. In this article we're going to take a closer look on how to make money with Mary Kay.
'Old school' marketing techniques
Mary Kay's companies growth is based on the traditional model of "warm marketing" and sampling - instructing their distributors to sell to their friends and family members, and giving away product to let them try it out. However, using these types of techniques most people in network marketing would struggle and fail in their efforts to build significant wealth.
Success in MLM is ultimately determined with the marketing skill-set of the distributor. 'Old school' strategies, or "selling" in the sense that we all think of it today is really a dead activity. In order for marketing campaign to be effective you have to deliver the right message to the right market, and test it to make sure it works before you spend even more.
Marketing effectively
Its a proven advertising fact... Direct-response advertising gets up to 500% greater response than color brochures, flyers, business cards, and all other forms of product or image advertising.
Direct-response marketing
Direct-response marketing is a form of marketing designed to get a direct response from one customer at a time. This gets people to raise their hand and tell you they are interested as a direct response of your marketing efforts. Direct-response advertising can be contrasted with usual marketing techniques (such as flyers or magazines), because traditional marketing strategies normally do not solicit a direct immediate response from the customer, but instead try to brand their product in the market place.
Its an effective, very specific and quantifiable marketing system, and many successful individuals and companies are using it to grow their own businesses (names include such as Anthony Robins, Jack Lalanne, Hawthorne Direct and Guthy Renker, to name few..)
Prospecting / Closing
Regardless of how you got your leads, you have to have a filtering system to prospect successfully. You want to be able to present your products and services effectively, and sign your prospects up effectively.
It is important to understand that nobody wants to be "sold" anything anymore, today people want to BUY products and think it was their idea. Knowing how to come across as a solution based marketer (not a seller!) who can provide a solution to peoples problems and the solution to your prospects pains will dramatically increase your results.
Residual income - building winning a team
Good team planning involves knowing in advance what strategies you're going to teach your team, and showing the goals they are going achieve if they chose to join you is a key. Remember, the first 30 days will determine your retention rate for new recruits - it is crucial that you provide them with clear goals, ongoing training and tools they need. Residual income is the portion of income you receive from all of the people in your downline who also are building their own successful networking business.
Summary:
Most people who become involved in network marketing do not approach their business by following the structure of system that would dramatically increase their odds of success. If you have been trying the old way to make money with Mary Kay, then information found here can be a little daunting at first, but its well worth the efforts. Study and implement necessary topics and your bank account will thank you.
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