Lessons to Learn from Network Marketing | Fogblogs | Teodoro Jun Jaen Jr., Correspondent | We can certainly take a lot of useful lessons from the marketing strategy of network marketing. The strategies and guiding ideas that one picks up through utilizing this method are typically beneficial, and they are transferable to any other kind of enterprise.
One important thing that can be learned from network marketing is that relationships are essential to the success of any organization. Both the relationship between management and other people within the company and the attributes of the product themselves are of utmost importance. In addition, we come to understand that prior to making any assumptions, we need to conduct research on the network in order to obtain a comprehensive view of the situation. In network marketing, you should never take chances or make assumptions about your network since you are required to analyze both the strong and the weak places in your network in order to determine what steps to take in order to improve the performance of each area. Another important thing that I’ve learned from participating in network marketing is that the most effective approach to sell a product is to have it surrounded by customers and distributors. It should come as no surprise that there is a significant amount of distributor support in network marketing. Additionally, because even a single individual in the network is not given the opportunity to fail, network marketing requires a significant amount of follow-up and recruitment efforts.
One such tactic is to encourage people who are not currently selling to start doing so by encouraging them to sell to their immediate community. A useful illustration of this would be employing a college student in network marketing. This student will not go to the office of any CEO to advertise their product; rather, he or she will engage in network marketing inside the community that is most accessible, which is the student community. In this manner, the product is able to completely permeate the entirety of any group whatever so long as the network has at least one individual who is a member of that group.
Additionally, relationships play a very significant role in network marketing. This is in contrast to other forms of marketing, in which new ideas are presented with the expectation that they would be put into practice right away (like trying to sleep with a girl on the first date, without building a close relationship first). When it comes to network marketing, the relationship is prioritized over the actual implementation and the outcomes. When it comes to network marketing, the most successful network marketers think that you shouldn’t look at the people around you as “prey” or as a catch. You need to make genuine connections with a large number of individuals, and you should be aware that some of those people will eventually become part of your network. Others will only refer others to it without joining, while the final group will do nothing at all regarding it. Some will join and recommend others to it. Others will only refer others without joining. In contrast to this, some businesspeople who are not familiar with the fundamentals of effective network marketing apply a rule called the “three foot rule.”