What is Referral Marketing?

Referral marketing is also known as network marketing, and is by no means confined to the online world. In fact, it has its roots long before the World Wide Web. Some very large and successful companies were built, and continue to thrive, on a referral marketing model.
This is how it all works: a company sells products and services via a network of entrepreneurs instead of a traditional store. This means that the company is able to sell the products and services to customers at a reduced rate because of the lower overheads, as well as the ability for the company to grow at a rapid rate! The entrepreneur also has a much lower startup cost, with the benefit of the backing of an established company.
The company also encourages entrepreneurs to recruit other entrepreneurs, in order to increase the capacity of the company. The referring entrepreneur then also earns commissions on the products that the referred entrepreneur sells. If the new entrepreneur brings further entrepreneurs on board, the original entrepreneur also receives commissions on those sales – and so on. This is the multi-level or network component of the company

DELAYED GRATIFICATION

Most people entering the Network Marketing Industry think in terms of immediate GRATIFICATION and getting rich quick, that is why thy quit easily. that is why there are few who are truly successful in this business, In network marketing you have to think long term and not short term, DO the work today and earn the rewards tomorrow. The business is not a sprint race but a marathon race. Apply the law of the farm in your business. THE BUSINESS IS ABOUT PEOPLE NOT PRODUCTS IT IS ABOUT BUILDING A TEAM THE BEST POSSIBLE TEAM THAT WOULD SUSTAIN YOU FOR A LIFE TIME.
there is a saying that goes this way:
IF YOUR VISION IS FOR A YEAR PLANT WHEAT
IF YOUR VISION IS FOR 10 YEARS PLANT TREE
IF YOUR VISION IS FOR LIFE TIME PLANT PEOPLE

BUILD RELATIONSHIPS AND GROW IT INTO FRIENDSHIP; OFFER PARTNERSHIP; AND DEVELOP YOUR DISORGANIZATION THOUGH LEADERSHIP (In network Marketing your inventory is people)

One on one Business Presentation

With the use of the use of the six-step system:

·        Approach. . . . . . . . .  To gain rapport

·        Interview . . . . . . . . .  To identify needs

·        Demonstrate . . . . . .  To Show the Plan

·        Validate . . . . . . . . . .  To Prove your claims

·        Negotiate . . . . . . . . .  To work out Problems

·        Close . . . . . . . . . . . .  To ask for a decision

With This AID-INC  this would help you create a good business presentation.

When you introduce your prospect to your business opportunity spend a good 15-20 minutes getting to know them. Determine who they are and what they want.

#THIS WAY YOU CAN TAILOR YOUR PRESENTATION TO THERE NEEDS AND WHAT IS IMPORTANT TO THEM.

STEAMLINE SPONSORING

One of the biggest problems in MLM is attrition. Many distributors who join any network marketing company quit within the first few months, often without sponsoring anyone. Streamline sponsoring is very popular now with many distributors as it, helps build volume quickly and even people who join as customers can receive a check.

Working in Depth

A cardinal rule is that no distributors, no matter how successful or large his organization,ever quits personally sponsoring. However, it is also true that the responsibility to help those people in his down line succeed by helping them build their own organizations. For a growing business, the question is one of balance and priority. There is not enough time to do everything. Security and stability of a large business network lay in its depth rather than width. Conventional wisdom emphasize largely on the need for front line sponsoring.

Distributor Bill of Rights

1.     Distributors have a right to own and operate their own independent contractor business.

 The company and the government should recognize that a distributorship is an independent small business with all of the rights and tax benefits of any independent small business. By entering into an agreement with any company, each Distributor is entitled to specific and undeniable rights to protect and preserve immediate and long-term residual income.

Knowing Your Target Market First

To build a solid foundation for your network marketing business you must first identify your prospects. you must decide who you want to attract, know their needs and wants then offer them solutions.