Brand Name – Definition, Features and Considerations behind naming a Brand
Brand name is one of the brand elements which helps the customers to identify and differentiate one product from another. It should be chosen very carefully as it captures the key theme of a product in an efficient and economical manner. It can easily be noticed and its meaning can be stored and triggered in […]
BCG Matrix – Meaning and its Limitations
Boston Consulting Group (BCG) Matrix is a four celled matrix (a 2 * 2 matrix) developed by BCG, USA. It is the most renowned corporate portfolio analysis tool. It provides a graphic representation for an organization to examine different businesses in it’s portfolio on the basis of their related market share and industry growth rates. […]
Brand Management Challenges in Changing Times
Last few decades have changed our world beyond recognition. There has been unprecedented progress in all spheres of life. Technology and scientific advancement has played major role affecting all parts of the economy, politics as well as markets. With globalization and opening of markets we see a lot of changes in the way business is […]
Corporate Social Responsibility or Profits: The Debate
In recent years, CSR or Corporate Social Responsibility has become the latest buzzword among the companies. This refers to the practice of the corporates in “giving back” to society in the form of programs that benefit the less privileged members of society. They can take the form of outreach programs that adopt schools; communities etc […]
Implementing Integrated Marketing Communication Plan
Integrated marketing communication plan blends essential components of marketing mix to promote brands effectively among end-users. Integrated marketing communication plan integrates various methods of marketing such as advertising, public relation, promotion through social networking sites and so on to create awareness of products and services among target audience. Brand communication methods instead of being used […]
Multi Level Marketing is a very interesting concept which makes selling very easy. The fact that anyone and everyone can join the Network marketing business and earn handsome income by selling the products without any investment or risk makes it the most attractive business proposition to people.
MLM companies spend a lot of money and effort on providing the distributors with product literature and promotional materials to help them sell the products. Besides they invest on training the distributors too and equipping them not only with the product knowledge but in training them on the sales process.
Sales process in MLM business involves recruiting and building network of distributors. When each distributor joins up the network and buys products for his use you start clocking sales automatically. But then it is also important for every distributor to focus on selling the product directly through retail sales other than focusing on building distributor network too.
While you will have undergone extensive training on the entire sales process involving prospecting, qualifying, approaching, making presentation, follow up, clarifying and concluding sales, you will have become an expert in selling and communication. Selling does not end here.
You Have got to sell the products directly too in addition to your distributors buying the products through you. Therefore it is important for you to look at every opportunity that you get everyday to be able to make a sale.
During the course of the day you will be meeting different people at different places. Your conversations with each and every individual provides you with the opportunity to talk about the product that you are selling and find an opportunity to sell the same. At this juncture it is important for you to remember and to learn how to talk about the product and not necessarily make a direct sales call.
For eg. If you are an Amway Distributor, you could talk about the quality of wash and the saving on detergents that you are able to achieve with the help of Amway products. When you talk about your experience and savings, it is definitely going to attract the attention of your colleagues or friends who are around.
If you happen to be representing Tupperware, talking about your kitchen or using Tupperware as a gift idea can find many ears. In all of these situations, it helps to share your experience and information so that the others find value in it and they get to see that it works.
Before you start sharing information or start making presentations to people, it is important to spend time in equipping yourself with the product knowledge.
You will be able to talk confidently and convincingly when you are able to provide specific details of the products as well as explain how they are going to be useful. The more you know about the product, the more you tend to believe in the product and it becomes easy to sell when your conviction in what you are selling is very high.
Another factor that helps you become successful in you MLM business is your attitude towards Customer service.
The key to building a successful business is to believe that Customer is the King and make your Customer, Your most important partner. This belief holds good for all business and more so for Network marketing businesses.
Most of the Network Marketing businesses involved sell products that are likely to have repeat requirements from the same customers. Therefore once a customer, is going to be a repeat customer always.
What helps you get repeat business from the same customer is not only the quality of the product and the product satisfaction, but your customer service also helps build customer loyalty and brings in repeat business.
You can provide best Customer service by going that extra mile for your customer and providing an experience that is pleasant and positive. Leaving your contact number and details, providing personal service, remembering customer by name and keeping in touch with the customers regularly and giving them value add services etc can go a long way in raking in repeat sales.
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