Probably one of the most misunderstood and misused terms is "network marketing". Much of the confusion comes from its association with multilevel marketing and direct sales companies, yet network marketing is actually a practice most everyone is engaged in every day and they dont even know it. Even more so, youre most likely not getting compensated for it. Does it mean that when youre doing it, youre engaged in a Pyramid or Ponzi scheme? Hardly.
What is Network Marketing?
So what is network marketing? Simply put, it's a way of marketing a product or service to an individual via word of mouth. When used in conjunction with a network marketing or a multilevel marketing company, the person doing the networking is typically called a distributor or sales representative and is compensated when a prospect buys the product or service from them. It's an efficient method of marketing because typically there is no cost involved with marketing word of mouth. Its simply about a conversation between two people that could result in something being purchased. So, if youre not part of a network marketing or MLM company, then how can you be engaged in network marketing?
Mostly every day, every one of us is engaged in the act of network marketing and were actually generating income for someone; that someone just isnt us. In fact, many of the world's top companies rely on network marketing, that is, the word of mouth marketing from happy consumers of their products to create a "buzz" about their product or service, thus increasing sales.
Corporate Companies That Use Network Marketing
Movie studios rely heavily on network marketing to create a buzz about their film. First week ticket sales are typically reliant on the marketing push done by the marketing studio itself, but second week sales and beyond rely almost entirely on network marketing from satisfied customers to get the word out. You may do this yourself all the time. You go to see a movie, you really enjoy it, and the next thing you know you're talking to all of your friends about it. You may even use terms like You have got to see this! Your friends may take action because they trust your opinion, and movie studios count on that.
The same goes for companies manufacturing gadgets. There's a very popular gadget/phone manufacturer out there whose name is synonymous with a fruit that relies very heavily on positive word of mouth (i.e., network) marketing for their products. If you own one of their flashy touch screen phones, no doubt someone has come up to you and asked you what you think about it. If you give it a positive review, there's a possibility that a sale will be made based on your personal recommendation. Now, do you thing youll get a check from that company for making a sale for them?
You Engage in Network Marketing Every Day
When you really think about it, you're engaged in the act of network marketing every single day. You're telling people about your experiences with the latest book you read, the last restaurant you ate at, the last trip you went on, the last place you shopped, the new DVD you watched, and even the latest TV show you've seen. But in every single case it's unlikely you were compensated for your personal recommendation that may have resulted in a sale.
So now hopefully you see that network marketing is an activity that you engage in on a daily basis whether you realize it or not. The key now is to get compensated for that activity, and the good news is your can. If you align yourself with an ethical company with a good product, then you needn't worry about breaking any rules or laws as your company will provide you with guidelines as to what you can and can't say about your products. Clearly though, there's no need for you to get hung up on the term network marketing. You already do it almost every day; youre just not being compensated for it. Align yourself with a good network marketing, or multilevel marketing, or direct sales company and that can change, and along with it, so can your bottom line.
Copyright 2009 Inspire International Inc.
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