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If there is one system that has taken over the network marketing industry is for sure multilevel marketing (MLM). This is the kind of business that one has to buy a product from a given company and by word of mouth or working online refer others to the same product for a commission. In short, multilevel programs omit the middle men to directly reward their consumers using varies compensation plans.
Members of a MLM company earn cash when they make direct sales and also earn from overriding commissions made by the people they have referred. Usually, the extent of these overriding commissions varies from one company to another.
On this article we are going to tackle a pressing issue that most people who work online from home are facing when it comes to choosing a network marketing company to work with.
The first thing you need to do when you enter any business venture is to research well. As for MLM, you will need to make sure the company is not a ponzi scheme. This you can confirm by finding out if the program you want to enroll in has a product or not. A legit MLML should have a product or service, but go even further and ensure the products are of high quality thus easy to propose to other consumers.
Here are other attributes of an ideal MLM company you need to look at:
- The pricing of their products should be affordable depending on your financial ability and the people you want to target.
- Get to know if you are compensated for direct sales and your overriding commissions.
- Are there good channels for you to receive training and support from your up-line, and also for you to offer the same to your downlines?
- A good MLM program offers recognition to the top performers. The rewards vary but ideally the incentives include things like trips or maybe a car to motivate people to work.
- Check to see how rewards are measured, are they measured depending on your personal efforts or your groups efforts or on your personal monthly efforts?
- Know if you are compensated for sponsoring other people to the program.
- Find out how far the overriding commissions go, some network marketing programs pay up to infinity while others pay up to a certain level e.g. sixth or ten level.
- And most importantly see if the compensation plan is good enough to keep the company running. What would be the point of a great compensation plan if later the company was to collapse due to lack of financial sustainability?
- A good MLM venture has to have a way to take care of non-performing members.
- Stay clear of companies that call for dishonest marketing. This may include giving false information about the products and services on offer.
A company may not offer all these things but it should at least have a big percentage of these attributes. These attributes make sure that the members make money working at home and the company also stays afloat.
There is also the other vital aspect of management. The companies that do well are usually managed by experienced and highly qualifies staff. This means that you need to know the top management and what they have done before to determine if they are good managers or not. Dig into their business back ground and that will help you decide if you will sign up or not.
A good multilevel venture needs to have adequate training programs. This training should involve coaching on the products on offer and the benefits the products have to the customer. This goes a long way to ensure members understand the product thus they can easily sell the same to others. This is also known as product knowledge.
Then the most crucial attribute of a good network marketing company is having a well organized compensation plan. Normally, there are many compensation systems and we are going to discuss some of them in detail.
Matrix Plan: Here you have some sort of grid where one is limited to the number of people in each level. For example a 2 by 2 matrix means you can only earn two levels down and each level will have only two recruits.
The disadvantage of this kind of payment plan comes when one has filled his 2 by 2 matrix and then introduces another person. In most cases the extra recruit may be put under your up-line or down-line. This also encourages laziness since some people will ride on other member’s efforts. It also limits on how much money one can make.
Note: The matrix plan varies, some are 6 by 6 other 10 by 10 but it all depends from company to company.
Unilevel: The one beauty of this plan is that it is quite easy to explain to people. Normally, members do not advance beyond a certain level. In some organization you cannot go beyond being a distributor even if you are performing exceptionally well.
The draw back with this kind of compensation plan is that it is not rewarding enough, which is a principle that multilevel companies should adopt to encourage sales. People feel motivated when their efforts are rewarded especially in public; therefore in most case some companies that operate unilevel plans later change and implement other payment plans that seek to motivate their subscribers.
2 Up System: This is a new concept where members are not paid for the first two referrals they recruit. Normally, the two are considered as people to enable you activate your account. The person that benefit from the two is your up-line.
The disadvantage of this is that most people may open dormant accounts hence led to non-performance. It is also difficult for members to understand how it works thus needs lots of training. But the good thing about it is that it can help you make money easily once your account is active.
Stairstep Plan: This system is like the advancement of the unilevel plan where members that perform well are rewarded by being promoted in rank. Unlike unilevel where the highest rank one can reach is becoming a distributor.
Ideally, in stairstep one moves a step ahead of his or her sponsorship level and the original sponsor is paid the overriding commissions of all the downlines. This in return helps to motivate members to work harder since the commissions are quite handsome and dependant on your efforts.
The plan has worked well and thus it is the system that has been adopted with most network marketing organizations. Also, government regulatory bureaus advocate for this kind of compensation plan since it is dependent on once performance and volume of sales made.
When it comes to training recruits it can be quite a challenge since it is difficult for some members to understand how the plans works.
All said and done, network marketing is the way to go for people who work online or offline. MLM’s are considered as the business programs that have made most people millionaires in the world today. This means you need to get on board fast if you really want to make money marketing.
The best network marketing program is the one that centers on marketing products or services as opposed to the program that focuses on one referring recruits.
Hope you succeed in your quest to make money from home using multilevel business programs.
The dilemma that most people face when it comes to blogging is on ways to make money online. This question does not have a straightforward answer since there are several things to consider.
In order to generate income online from your blog you need to look at several factors: this include;
– The age of your blog
– The size of your blog as in relation to the number of articles posted
– Your niche
– Your target audience preferences
– What you want to achieve from your blog
The one thing you need to know is that you can make money from any kind of niche blog. What differentiates one blog from another when it comes to making money blogging is very little.
In order to succeed in the monetization of your blog you need to know how to arrange your blog, pick the right products and most importantly generate quality content.
On this blog post we are going to discuss several ways of online money making that top bloggers use today. These are the same techniques on how to make money online that will remain hot even going into the future.
It is good to note that to succeed in blogging you need to be patient. Just because the strategy you are using is not working does not mean you have failed. In some instances, it may take awhile before you begin seeing any results.
Therefore, do not be quick to toss in the towel. Give it your all and with time you will surely reap the benefits of blogging for money. In business you have to be patient before you see great results.
Now let us get straight into business and see some sure ways of making money online through blogging:
Create an eBook: Blogging can be a good place to start if you are a writer. With a blog you can get the mood of people in your niche.
A blog will help you to know what people like and what they don’t like. This can go a long way in making sure you create an eBook that captures the needs of your target audience.
Apart from generating revenue selling your eBook on your blog, you can use the opportunity to launch your own product since readers will be expecting more from you.
An eBook makes people consider you as an expert in your niche thus creating a chance for you to brand yourself. This in the long run increases your web presence and as you all know more traffic leads to more cash.
Create Online Tutorials: The internet is the home of information and a tutorial is a perfect tactic of creating content.
People love content that has instruction on how to do something. For example, if you are in the online marketing niche, you can write a tutorial that explains in details the steps to follow in order to succeed in SEO.
Selling such a tutorial on your blog will give you a lot of mileage the same as creating an eBook.
For Tutorial and eBook creation to work, you need to make sure your content is of high quality and get your facts right.
Membership Site: Over the years this has been one of the best ways to make money on the internet.
The secret is to offer free quality content that will attract visitors. Once you lure readers to your site you can then tell them to subscribe for premium content.
The reason that people love making money through membership site is the element of recurring income. With 500 people subscribed to your blog content you can be assured steady income each month.
For you to create a successful membership site you need to advertise strategically. One of the best ways to promote the site is to publish a blog post on how to become a member and the benefits of becoming a paid subscriber.
It is also advisable to use email marketing to promote a membership site. On every blog post you publish include a sign up form that helps you capture your free readers email contacts.
From there you can periodically be sending them details about the benefits of becoming a paid member. Again, for this to work you need to write quality content on a regular basis. You also need to be an authority in your niche.
Write Reviews: This works best for affiliate marketers. Furthermore, it is a strategy of generating quality blog content.
All you need to do is to pick hot products that are being launched in your niche and write reviews about them. In the review you can then include affiliate links thus make sales.
It is advisable that you gather real facts when writing product reviews and the way to do that is to use the product first. Yes, it will cost you money to buy the products but with first hand information it will be easy to sell thus get Return on Investment ROI.
With time as affiliate marketing companies notice the sales you are making, will begin to pay you to write reviews and also give you free access to products that about to be launched.
Create a Service: The ability a blog has to attract traffic, has made many people to create services and sell them on their blogs.
The way to make money on your blog through selling services is to come up with a page called services. On this page you can write a detailed article describing the benefits that come with using the service.
It is advisable you include testimonials that will act as positive social proof. Do not forget to also include a BUY button and this case I recommend PayPal which is very easy to integrate.
Affiliate Products Promotion: If you ask me this is an excellent technique on how to make money online. You can earn huge commissions if you do your blog promotion right and also find ways of retaining visitors on your blog.
All you need is to find affiliate sites in your niche and sign up in their programs. From there, pick attractive banners and post them on your blog.
As people come to your site and click on the ads, you will make money when they buy. In some programs, you will earn commissions by just referring leads.
I recommend you try out affiliate network sites like Commission Junction and Click Bank for quality products.
Site Flipping: Imagine buying a domain at $10 and after 1 year selling the same for $3000 or more. This is for sure another great strategy of generating revenue on the web.
The secret is to find ways of popularizing your site and you can make as much money as you want. Ideally, a site will fetch more money depending on the income it generates daily.
I know of people who buy websites and develop them for six months then sell them off. These are webmasters who know how to market on the internet thus can easily add the value of a site within a short period.
If you are looking to sell your site visit Flippa and get people to bid on your blog.
Sell Your Own Products: This can be one of the most profitable ventures that can turn you into an overnight millionaire on the internet.
Products range from creating software, tutorials, eBooks and PDF files just to mention a few.
Before you create a product it is advisable you first identify a need in your niche. This you can easy know by asking your target audience what problems they are facing. From there you can create a product that offers solution to the problem.
You will make even more money if you allow others to sell your products as affiliate marketers and you pay them a commission. Sites such as Commission Junction and Clickbank can manage for you the buying process and enable you to have affiliates for a small fee.
Selling Advertising space: Every webmaster seeking to make money online wants web visibility thus at one point or another they will want to advertise.
To see just how important web advertising is look at the income report of Google. 97% of the revenue generated by google is from selling advertisement.
In order to succeed in selling advertisement space on your blog you first need to generate traffic. The more popular your blog is the higher rates you will charge.
There is a post we published earlier which you can read on ways of making money online through selling advertisement space.
Apart from selling advertisement space you can also signup with Google adsense. Here you will earn as people click on ads which Google will place on your blog.
Conclusion: Blogging provides great opportunities to improve one’s financial standing. Right now people from all corners of the globe are heading to the World Wide Web for information thus a chance to showcase your products and services.
Rather than stay home and whine on how bad the economy is, why don’t you start blogging from the comfort of your house?
I hope from this blog post you will get one or two techniques that will assist you on how to make money online through blogging.
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Author: Stephen Kavita
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