Why People Fail in Network Marketing and What Can We Do About It?

  Written by Wendy Johnston on Dec 29, 2008 12:58 pm

Read More: Leadership  |  Personal Development

• 0
   VOTES

  Up
• Tweet

Statistics show that as many as 97% of new network marketers fail in the first year of start up. This is an alarming number! If so many fail, how can we recruit more people into our business? Why is the failure rate so high? Is there something we can do to help floundering marketers?

Many of the top leaders in successful networking companies claim that new distributors don’t utilize their up-line’s knowledge and expertise, nor seek their guidance.  Another mistake new recruits make is failing to ask their leaders to do 3-way calls with them, until they gain confidence and experience. I can personally agree with this, as I have failed to do these things in the past and it got me no where quick. Most leaders want to help their new distributors, as this helps them continue making money.
 
Something you don’t hear much about, though, is how new network marketers usually think the whole world is their target market. “Everyone should love my product or service! It’s the best in the world!” In the entrepreneur world, it just doesn’t work that way. The narrower your target market and the more specialized your product or service, the more genuine interest you will attain from prospective customers. If a network marketer would find as many as a dozen smaller “niches” or specific target markets, he would be able to reach many more people. The broad road may be easier, but it won’t get you where you want to go.
 
The exclusive use of the company website can also lead to failure. Prospects come to the opt-in page and click right out of it. Prospects need to be wooed first…given some free information specifically for them that would lead them to trust you. A networker can do this by having a website geared toward their particular interest, such as good nutrition or weight loss or making an extra $10,000 per month. Get your prospect excited about what they are interested in first, and then send them to your company website. They will be many times more likely to opt-in and learn about how your product or service can fill their need. 
 
Most importantly, a network marketer needs to be consistently educating himself – from masters of the past, such as Dale Carnegie, and from up and coming leaders of the future, like Nadira Haniff. Entrepreneurs must keep up with the evolution of the marketplace rather than burying themselves in the past, which is exactly what we're learning at 180 Days to Greatness. Getting your new marketer on board with this exciting group will bring success to you and to your team.
 
If we do this, if we utilize many different ways of marketing, if we teach our new business partners to do the same, I am sure we will see an upward swing in the success rate of new networkers.  Let's be the leaders we are needed to be this coming year!
 
Wendy
Purely Clean Skin

Login or register to post comments  |   Views: 137  |   Comments: 2