In this discussion, I will assert boldly that the era of traditional network marketing is at its end. My statement may ruffle some feathers and leave a bitter taste in the mouths of a few, but I make this audacious claim for good reason.
Conventional network marketing methods have oversaturated the networking industry. These are the techniques that new entrants and distributors are often encouraged to employ, leaving them to fend for themselves.
Instead, the foundation of marketing in this age is relationship marketing.
I will delve deeper into this concept shortly, but for now, let's examine the three key reasons why most individuals fail in network marketing. The answers may surprise you:
1. People, in general, are not inclined to engage in the kind of work required to build a network marketing business. Prospecting and recruiting are the essential steps to generate income and establish a sustainable business with network marketing. While selling your product might not be too challenging, the real challenge lies in finding individuals who are also interested in joining your business endeavor. This is where the potential for significant earnings lies. Your upline may encourage you to rely on your friends and family to kickstart your business, but, in reality, most of your "warm market" may not be interested in participating.
Consequently, you will need to prospect and recruit in a cold market repeatedly. This process isn't limited to just your first two or three recruits; you must continue doing so because many of your initial recruits will become discouraged and quit. The key is to build depth rather than breadth, as you may have been advised. The truth remains that prospecting and recruiting are necessary to build a network using traditional network marketing methods, which can be challenging for most people. However, with relationship marketing, the situation is not as daunting.
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