By fall 2021, network marketing will have surpassed $ 200 billion in annual revenues and employ more than 120,000,000 people in 170 countries around the world. According to the WFDSA, last year was an industry record. As the entire international economy was crippled by the coronavirus pandemic, MLM saw unprecedented growth in sales and profits. Moreover, this trend continues today.
Currently, many online schools offer specific network marketing training, such as the Alex Reinhardt Academy, founded by Alex Reinhardt, serial entrepreneur, venture capitalist and FinTech expert.
In this article, the Academy expert explains everything a newcomer needs to know about network marketing.
The Most Important Thing About Network Marketing
Network marketing is the sale of goods through distribution networks, which each salesperson creates on their own. Unlike traditional businesses where middlemen charge overpayments, in this case the products are sold directly, making the MLM model beneficial for members and their customers. Moreover, you can claim that every MLM member is an entrepreneur, merchant and distributor of products at the same time as they attract other distributors who pursue their network.
Despite some bias in countries where fraudulent “pyramid schemes” once flourished, such a pyramid and MLM have nothing in common. In network marketing, distributors earn a commission for each of their sales and sales of the entire structure. On the other hand, in a pyramid scheme, the main income of participants comes from the initial contributions of those they attract to invest.
Well-known international companies such as Amway ($ 8.4 billion in sales), Herbalife ($ 4.9 billion), Avon ($ 4.7 billion) and Oriflame ($ 1.47 billion) remain the undisputed leaders of network marketing.
Why is Network Marketing Profitable?
Investors in the networking company include well-known businessmen such as Warren Buffett, Stephen Covey and even former US President Donald Trump. In addition, Alex Reinhardt, the founder of the Academy, built his first business based on a multi-level structure. Additionally, the following facts make MLM attractive:
- Get instant and unlimited income. The “ceiling” of an individual’s salary is set by the distributors themselves according to the effort they are willing to make to develop their structure.
- The Internet makes it possible to run a networking business entirely online. As a result, every networker has in their arsenal of recruiting and customer acquisition tools like social media, automated sales funnels, ad targeting, and more. Plus, access and training for all of this is provided by the MLM companies themselves.
- MLM companies react quickly to change, offer competitiveness through competitive pricing at no additional cost, and always have access to an audience at the expense of distributors.
- The network marketing market is one of the most crisis-resistant markets, as the coronavirus pandemic has proven. As a result, even inflation and a decline in consumer creditworthiness do not reduce the attractiveness of MLM but rather increase it because they are a source of income with minimal risk.
- There are no hurdles in network marketing because anyone can take online business training and start their own business, regardless of their background. This is how MLM helps solve the precariousness of the employment of retirees. According to some reports, almost half of the people involved in MLM are of the baby boomer generation.
Network marketing training with the Alex Reinhardt Academy
Further proof of the relevance of network marketing is that today many universities in Illinois (USA) and Paris already have departments that teach direct selling and aspects of MLM.
However, you don’t have to go to college to learn network marketing. As mentioned above, modern online schools and educational platforms teach it as well. At the moment, two programs are most in demand at the Alex Reinhardt Academy:
- “Sell, sell, sell! How to become a sales leader in any business.” Here, we’ll teach you how to train your partners in hours, build and improve your sales funnel, start a chatbot, run a networked business online, and be a leader of your team.
- “Kung Fu recruiting. No questions and no objections.” This course is perfect for beginners. It will teach you how to be stress free in MLM, find and attract new partners, turn a sale into an invitation, identify partner personality types, and do the right thing at every stage of MLM development.
Network Marketing is a cost effective and convenient alternative to traditional businesses. This is an optimal option for those who have long wanted to work for themselves or innovate for a stagnant company. Nevertheless, we first recommend appropriate training at the Alex Reinhardt Academy.
Disclaimer: This is a company press release. No HT journalist is involved in the creation of this content.