BillBelew.com

Network Marketing: Experiences?2279

Member Lenderman33 private msg quote post Address this user
Hi Folks,

Do you have any experience with Network Marketing? A friend of mine is doing 6-figures, and he has previously done much more (Millions).

*Request* I am looking for "1st Hand Experiences" and real information. However, if you have information based upon something you "heard", please be certain to make a note of that . . . Collecting data today.

The Good?
The Bad?




Thanks!

Erik
Post 1 • IP   flag post
Member eddievelez private msg quote post Address this user
I've built good size teams and earned well, and have also been an executive in three companies, as Vice President of Marketing and Training, and Director of Marketing and Training.

The stories are many. MLM and Network Marketing is real and profitable, but not all companies are equal, or legal. You need to evaluate the company first, then the product, then the trends and market, and FINALLY, the compensation plan. Because if the company isn't solid, the product doesn't deliver the promises it makes, the market isn't ready and the trends don't support long-term growth and sustainability, the compensation doesn't matter.

Make sure the product stands on its own. In other words, if you chose NOT to build a team, but just to sell the product, would anyone buy the product without a business opportunity behind it? You see, what many fly-by-night MLM companies do is create a product just for the sake of creating a pyramid scheme and not to sell a good product. Therefore, people would typically not buy the product, but because there's an opportunity tied to it, they consider it a business investment/expense (the cost of doing business). This is a formula for failure.

When looking at compensation, you need to evaluate not only how much you can make, but can the company actually pay out without imploding. Also, is the comp plan a gimmick, made to use breakage to the company's advantage, or a solid comp plan that rewards hard work and dedication.

I hope this helps!
Post 2 • IP   flag post
Forum Owner Belew private msg quote post Address this user
@Lenderman33

How abt you go first?
Post 3 • IP   flag post
Member Seniorpreneur private msg quote post Address this user
@Lenderman33 I want to add a basic required rule in the Network Marketing business. It's the 70% rule which means that every independent distributor is required to make at least 70% retail sales to regular customers not attached to the MLM company. My personal experience is that very few network marketing companies meet this rule.
Post 4 • IP   flag post
Member Lenderman33 private msg quote post Address this user
Hi @eddievelez,

Thank you - This is brilliant!

Once more, @Belew's forum shows that it is a hub for great people to get together and share valuable information . . . I was pleasantly surprised by this detailed post.

Thank you again!

Erik
Post 5 • IP   flag post
Member Lenderman33 private msg quote post Address this user
Hi @Seniorpreneur,

Thank you for this information. Do you have a Profile Picture? Would be great to see you!

Are you suggesting that you would *want* 70% of sales to be retail, or you *do not want* that to occur? Could you clarify?

Also, is this based upon personal experience?

Thanks!

Erik
Post 6 • IP   flag post
Member eddievelez private msg quote post Address this user
70% is supposed to be, to avoid legal entanglements. What this means is that the company as a whole, must have 70% of sales be retail and 30% internal consumption.

As an individual, this is good practice as well, because the average networker recruits 2 people and quits. But if you keep them as a customer, you have residual income.
Post 7 • IP   flag post
Member Lenderman33 private msg quote post Address this user
Hi @Eddievelez,

Thank you for the clarification! What company did you work for, and what are you up to these days?

Erik
Post 8 • IP   flag post
Member eddievelez private msg quote post Address this user
I worked with Many:

- NuSkin
- Quorum
- World Class Network
- TravelSmart
- Melaleuca

Executive Team
- CFO Today
- TravelSmart
- Care Entree
- Maxous
Post 9 • IP   flag post
Member eddievelez private msg quote post Address this user
I was in the industry for over 25 years. I still get approached about an opportunity about every 6 months, because of my past.
Post 10 • IP   flag post
Member eddievelez private msg quote post Address this user
Gotta go... Valentine's Day and my honey's birthday!
Post 11 • IP   flag post
Member eddievelez private msg quote post Address this user
@Lenderman33

To answer your last question, I run my own marketing company. I'll send you a link via private message.
Post 12 • IP   flag post
Member Seniorpreneur private msg quote post Address this user
@Lenderman33 Go to my profile for this group to see my profile picture on Twitter which I just posted. Like Eddie says "the company must have 70% of sales be retail and 30% internal consumption". Retail prices for most network marketing companies products or services are set very high which don't make them sufficiently competitive in the regular marketplace. As a result, the 70% retail sales rule is very difficult to achieve by say 90% of all distributors. Also, as per Eddie, the average networker recruits 2 people and quits.

I have personal network marketing experience in the early 80's with Shaklee Canada. I worked as an independent distributor with Shaklee for 4-Years.
Post 13 • IP   flag post
Member Lenderman33 private msg quote post Address this user
Hi @Seniorpreneur,

Thank you! I see your profile picture now : )

You have personal network marketing experience? How interesting! Once more, I am delightfully surprised by the breadth of experience that folks have on this forum.

@Belew must be a magnet for talent . . . LOL



Erik
Post 14 • IP   flag post
Member Lenderman33 private msg quote post Address this user
@Rev,

You posted a great suggestion on this forum thread.

Would you be so kind as to share your Network Marketing experiences on this thread too?

Thanks!

Erik
Post 15 • IP   flag post
Member philipwatling private msg quote post Address this user
So, @Lenderman33, you are one of these strange people, like me, who likes to see the person that he is talking to? It is something my wife does not get and thinks I am just being some sort of pervert :P
Post 16 • IP   flag post
Member Lenderman33 private msg quote post Address this user
Hi @Philipwatling,

LOL - I must be one of those strange people who likes to put a face to the name : )

Do you have any Network Marketing experience, or have you heard anything Positive or Negative ?

Erik
Post 17 • IP   flag post
Member philipwatling private msg quote post Address this user
I wrote a book, Erik, about my massive head injury. The only experience I have had of Network Marketing is that it make my head hurt!
Post 18 • IP   flag post
Member Lenderman33 private msg quote post Address this user
Hi Philipwatling,

Where can we see a copy of your book?



Erik
Post 19 • IP   flag post
Teacher Rev private msg quote post Address this user
@Lendeerman33

I've mentioned Cathy Demers' Success Cafe from time to time. This week's presenter is Mike Brooks and his topic is Cold Calling And Sales Tips For Insite Sales - 5 Sales Techniques for Success in 2017. Thought it might be of interest to you. About 20 minutes.

https://business-success-cafe.com/event-replay-mike-brooks-02-16-2017/
Post 20 • IP   flag post
Member Lenderman33 private msg quote post Address this user
Hi @Rev,

Thank you!

Erik
Post 21 • IP   flag post
Member Lenderman33 private msg quote post Address this user
Hi @Rev,

You mentioned a very interesting Marketing Strategy that you implemented in another forum post. This utilized "Magazines" and "Flyer Tabs" . . . Did you also put the "Flyer Tabs" into the Magazines?

Was that for a Network Marketing project, or another project?

Thanks!

Erik
Post 22 • IP   flag post
Teacher Rev private msg quote post Address this user
@Lenderman33

It was an MLM company with a variety of household products. I put the page with the tabs (my phone number) into the magazines with a little glue along the spine edge to hold them in place. They didn't interfere with reading but the were found inside while reading one of the top stories. Got what amounted to about a dozen calls per mag on average -- if I recall, I had 15 tabs in each so that was fair.

Not long after I moved to another city so I didn't repeat the placement to track a second wave. I did use the process in my next two locations and it worked equally as well. Calls were mostly women and I got less calls from barbershops (men). I never did any back-checking of the magazines to see if men in barbershops took tabs and just didn't follow through or if they just didn't take the tabs.

It's been a long time and I no longer have the data but I do remember it being one of my best lead generators and nearly ever lead converted.
Post 23 • IP   flag post
Member Lenderman33 private msg quote post Address this user
Hi @Rev,

Thank you for sharing!

How many Magazines?
How many Offices?
How many Magazines *per* Office?

Total turn-around time?

Best wishes,

Erik
Post 24 • IP   flag post
Top Contributor Steve private msg quote post Address this user
In 2001 I setup my own network marketing company here in Australia... we ended up with over 3000 active affiliates, a 460 msq office and 20 staff...

@Lenderman33 how about you share you own experience?
Post 25 • IP   flag post
Member Lenderman33 private msg quote post Address this user
Hi @Steve,

Thank you for sharing!

My background in Network Marketing is quite limited. I have assisted a Network Marketing friend of mine with an email launch recently (see profile link), but I have not been extensively involved with the system.



Thanks!

Erik
Post 26 • IP   flag post
Teacher Rev private msg quote post Address this user
@Lenderman33

I was in a small city of about 30,000 population. I put out probably 3 to 5 magazines in each of every doctor/dentist office, barbershop, hair salon, butcher shop, coffee shop, etc. even some office and plant lunch or coffee rooms -- any place that I could find that had magazines to pass the time and would let me. As I said I no longer have the data so it is memory of more than 25 years ago, but I expect there were close to 100 locations.

I got calls probably the next day -- certainly within 2 or 3 days. Most calls converted to a sale and many to repeat customers -- that's the way I closed, to get the repeat order in a pseudo-subscription and I followed up on a regular, pre-scheduled, basis to take the repeat order.

While I built my MLM to the company independent manager level, I also made significant retail profit and taught my organization how to do the same which, in tern, made me significant down-line bonuses.

A lot of MLMs (companies or individual reps) fail because they forget there needs to be a product or service moving through the group and out to consumers. Without actually selling something there is no money in the system. You can't live long on "sign-ups" even though the theoretical math looks good.

It's why pyramids, including money matrices, fail so miserably.
Post 27 • IP   flag post
Member Lenderman33 private msg quote post Address this user
Hi @Steve,

Did you create your own Network Marketing company from scratch, or did you join a company?

Either way, did you like it?

Sounds like this would have been very lucrative!



Erik
Post 28 • IP   flag post
Teacher Rev private msg quote post Address this user
@Lenderman33

In this instance I was a distributor for an existing multi-national. At another time I was one of four partners in a startup called Heartlake Distributors. That's an interesting story but for later...
Post 29 • IP   flag post
Member philipwatling private msg quote post Address this user
Hi @Rev

I used to volunteer in our hospital's lending library and I was so proud to put my book in display. It was borrowed on the first day - I lent it out! The chap was discharged, went home and took the book with him

I can kinda see worth in leaving copies of my book in doctor's surgeries etc, but 1) guaranteed it will be taken - and not paid for - by the first person who finds it and 2) I cannot keep buying books!
Post 30 • IP   flag post
29156 33 30
Log in or sign up to compose a reply.
destitute