Key Metrics for Evaluating Social Media Performance
Measuring the success of social media efforts goes beyond counting likes or shares. To truly understand the impact of your strategies, it’s essential to track meaningful metrics that align with your business goals. These metrics provide valuable insights into what’s working, what’s not, and how you can adjust your approach for better results. Why Metrics […]
Conjoint Analysis – Meaning, Usage and its Limitations
Introduction During the sixties, when researchers tried to understand consumers’ decision making process, they used a simple questionnaire or a form. Respondents would generally answer what was on the top of their minds or what they assumed the researcher wanted to hear. However, this did not always correspond to their actual purchase decisions. For example, […]
Sales Skills for Consultative Selling
Consultative selling has gained global acceptance as the most effective sales process and has now been adopted by all industries and organizations from insurance to hotels, from airlines to hospitals including industrial, retain and all other sectors of business. Organizations have realized the need to be customer centric and build customer relationship to be centric […]
International Sourcing is the Backbone of International Retailing
In the current times International Retailing industry is largely characterised by international sourcing. Though one might argue that for centuries countries have been engaged in sourcing materials from different countries, international sourcing as in the retail trade has grown and changed over a period of time. In the initial stages, the impetus for retailing of […]
Need for Market Segmentation – Why Market Segmentation?
A set-up where two or more parties (also called buyers and sellers) are engaged in transaction of goods and services in exchange of money is called a market. At the market place the sellers sell their goods to the consumers (buyers) in exchange of money. Let us go through the following examples: Nokia offers wide […]
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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