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Article Resources
How To Retail Your Way To MLM Millions! (Creating
Driving Volume) Here's
a word you don't hear much in MLM anymore--RETAIL! What do you think
about when you hear the word retail? Going door-to-door “begging”
people to buy your product or service? I'll confess, that's what
I thought retailing consisted of. What I found out is that used
properly, retailing your MLM can not only get you some immediate
CASH, but it can also lay the foundation for a multi-million dollar
business. Let me explain: Selling your product or service at either the retail or wholesale price is up to you and it depends upon your program and it's pay plan (some MLM's give you a bonus for your own purchases--so selling to your customers at wholesale still makes you money. Other programs only give you a bonus on the wholesale purchases of your downline. In this case you either need to sell to your customers at the retail price, or you can, in some cases, place their order under one of your downline members, get the bonus for the purchase and sell to your customer at wholesale). When trying to turn a “NO” into a customer I find that this statement works well, “Joe, I'm sorry you've decided NOT to join today. But, because you've been so nice about it, would you be willing to help me out even though you're not going to be a member?” You'll usually get a “Sure”. I'll then say, “I get paid in direct proportion the amount of volume I move through my business. What I'd be willing to do is offer you any of our products at the WHOLESALE or DISTRIBUTOR price! This way, you can enjoy the product(s) (you might want to talk about one or two that you know they'd be interested in) without being a distributor.” I've even taken orders with their credit card right over the phone using this technique! If you're talking to them in person it's even easier! If they're not ready to make a purchase at that time, ask them if you can mail or leave them a catalog and give them your business card so they can easily get in touch with you when they are ready to place an order. You'll find that the biggest reason people don't get in a MLM is that they are afraid of failing. But, if you can get them “hooked” on the product or service that your company provides and you help them make it easy to order, you'll find that many of your “No's” will turn into distributors in 6 months or so down the line! Product First, Opportunity Second Another way to make money retailing your MLM is lead with your product and service. When you advertise your product or service first and your business opportunity second, you get a different set of prospects. If your MLM offers a health related type of product you can lead with that. Then when people call you, offer them both prices, retail and wholesale. Many will go ahead and sign up just to get the product at a lower price. But, you'll also find many will just buy at retail, even though the price is higher. Why? Because they're worried that if they sign up as a distributor that they will be EXPECTED to recruit other people. Or, they're afraid you'll call and bug them to death every month until they sponsor someone. In one of my programs I fell into the trap of overlooking the value of retailing my MLM's product line. I felt if the prospect didn't join as a distributor that they weren't worthy of my time. This is wrong. What you have to remember is that although you don't have a store front you still own a business. You get paid to move product, period. How you do that is up to you--it’s YOUR business. The reason most people focus on building a NETWORK of distributors is because that has proven over the years to be the easiest way of generating large amounts of volume. Why? Because the average person doesn't like to “sell” anything. If you focused on recruiting salespeople who went out and retailed your product or service your chances of building up a large residual income would be contingent upon how well these people “sell” every month. But, with a wholesale network, people simple consume the product or service you represent, and if they are motivated by money, they'll go out and recruit other “consumers” of your product or service--which is much less threatening to the average person. One of my downline currently has 45 retail customers. These are people who have seen her presentation and said “NO” to becoming a distributor, but liked the products. In a recent mailing she did to these customers she was able to generate over $300 in sales! Her profit was over $150! Her total cost to mail them was less than $20! She just turned her “No's” into $130! You can do the same thing, too! When a prospect says “NO” to you, turn them into a customer. Give them a free sample and offer to sell to them at “wholesale”. Always have some product or service waiting in the “wings” for when your prospects say “NO” to your main program. Nobody likes to say “NO” to anyone--that’s just human nature. Take advantage of this window of “guilt” and offer your prospects something of value that they can use right now! When someone answers an ad of yours they are “looking”. The cold hard facts are that only 10% of them, at best, will spend their money with you so THEY can make money in your MLM. The more avenues you have for the other 90% to fuel their interests the more money you'll make from your recruiting efforts! Remember, the key to retailing is to either lead with your product or service or turn your “No's” into customers. You'll find that you should be able to convert at least 10% of your “No's” into customers for your product or service. Plus, this gives you a chance to contact your customer once a month for their order and service their account. You'll find that many of your customers will eventually turn into distributors over a period of time. Why? Because they feel less threatened by you and the “timing” has changed. During this process you develop a relationship with your customer base. And once you've developed a friendship, it's much easier to build a distributorship with someone!
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