For decades, multilevel marketing (MLM) companies have been used by entrepreneurs as a tool to grow their businesses quickly and efficiently. With the onset of the digital age and the widespread adoption of social media, MLMs are more relevant than ever before.
Traditional MLMs such as Avon, Amway, and Herbalife were originally founded on the premise that women make up a large portion of the buying public and that many women simply prefer to talk to other women about their needs and interests. While the industry has changed dramatically over the years and today’s MLMs include some truly niche products such as skin care and vitamin supplements, the fundamental structure and business model remains the same.
Why Online Marketing?
With the increasing number of online directories, review sites, and social media platforms, the role of the salesperson has been greatly reduced. No longer do you need to rely on someone to come to your house to sell you skincare products; you can do it yourself online. You also have the ability to connect with consumers much more easily than you could ever do in person. The convenience and ease of online shopping has made it much more appealing to consumers, and the opportunity to conduct business online has only increased.
What Are The Main Differences Between MLMs?
Despite the fact that MLMs have been around for a very long time, the industry is still in constant evolution, and as a result, the main differences are always changing. Here are the main differences between MLMs as they exist today:
- E-commerce vs. Direct Sales. While some MLMs still operate primarily as “brick-and-mortar” businesses (e.g., Avon), more and more companies have adapted to the online world by setting up websites where consumers can purchase their products.
- Virtual Shopping. With the rise of e-commerce came the idea of “virtual shopping,” where consumers can browse products and make purchases without ever setting foot in a physical retail store.
- Digital Marketing vs. Advertising. Whereas in the past, MLMs largely focused on print advertising such as magazine spreads and flyers, today’s marketers utilize a variety of digital and online tactics, including display advertising, SEO, and social media marketing.
- Product Hunt vs. Research and Development. In the past, companies like Avon would rely on independent contractors — known as “product hunters” — to go out and find new products that the company could offer.
- Generations Online. Consumers are now working and shopping alongside their parents and grandparents. Thanks to technology, children are often unsupervised for large parts of the day and have access to the internet, social media, and online marketplaces.
What Are The Main Benefits Of Online Marketing?
As previously stated, the convenience and comfort of online marketing is unparalleled. Not only can you market products to people all over the world, but you can do it when they’re most interested in what you have to say. Thanks to the flexibility of the internet, you can also monitor and measure the results of your marketing efforts with relative ease.
MLMs give you the ability to target certain demographics. For example, you might want to target moms who have young children due to the fact that your product could potentially be used for childcare or school supplies. In the past, this kind of targeting was limited to print advertising and radio spots. With the convenience and relative ease of the internet, you can now create multiple accounts on social media platforms and target individuals based on their specific interests and demographics.
The variety of MLMs available is staggering. Not only do you have the traditional beauty and household products, but online marketplaces like Shopbop and Nordstrom have entered the industry, offering consumers unique products to suit their needs. Whether you’re a fashionista or lifestyle guru, there’s a niche product out there for you. Plus, with the right product and marketing strategy, you could become a business owner without having to worry about salespeople knocking on your door.
MLMs For Dummies
If you’re curious about how to get into the lucrative world of MLM marketing, here are a few tips for you. First of all, take a look at the companies that already do what you want to do. While there are no hard and fast rules in life, when it comes to business, the adage “think like a baby” can help. What does that mean? It means you should do what other successful businesses are doing and replicate it. So if you want to do online marketing for MLMs, study how existing companies attract consumers and become a part of that world. While you’re at it, find out what makes them successful and incorporate those qualities into your operation. Then ask yourself, “Does the world need another cupcake shop?”
On the other hand, if you’re looking to break into the industry, start small. Why? It’s a tough world out there and you never know what can happen. If you get rejected by one potential business partner, you might end up partnering with another. Besides, you never know when a small business owner might decide to sell their product line and team up with you. So, in that case, it’s better to be doing business with a company that you know will be around for the long haul. Plus, you can always expand your partnership later on.
Last but not least, don’t forget to have some fun. In the world of MLMs, it’s all about growing a business, but you also need to have fun at the same time. So, find an MLM group that suits your needs and interests and attend meetings whenever you can. It’s also a good idea to volunteer with your local community or give back to those who’ve helped you along the way. You’ll find that while building your business, you also build your personal brand and earn goodwill with others. So, in the end, having some fun and being productive at the same time is the key to a successful MLM career.