What is multi level marketing ? Multi-level marketing (MLM) is known by a variety of names: network marketing, referral marketing—and more pejoratively (and/or when done unethically), pyramid marketing. In this structure, marketing and sales reps not only receive compensation for their own sales, but also receive a percentage of the sales generated by other salespeople they recruit (commonly known as one’s “downline”).
MLM Terms: Recruit: A recruit may also be referred to a team member. It’s a person brought into the business by a sponsor as a new member. Recruits are trained by their sponsor or “upline” (see below) representatives.
Too many people get caught up in the hype of potential big income from MLM, that they don’t pay enough attention to what the company is asking you to sell. You can’t sell something or share your business if you don’t genuinely have pride in what you are representing. Do your MLM research and partner with a company that has a product you can get excited about. Don’t forget to look into the company’s compensation plan before you join and make sure it is favorable to you.
Because of its relational aspect, the products usually involved, and the gender of the consultants themselves, women are the predominant target for MLM strategies. However, the gender proportion shifts significantly in the case of financial and/or insurance companies. When it’s time to develop a financial portfolio or consider a term life-insurance policy, it’s usually a joint decision made by husband and wife, or by the head of the household regardless of gender.
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Hybrid MLM Plan? The hybrid MLM Plan is a combination of two plans, – the Uni-level MLM Plan and Binary MLM Plan. It further improves the characteristics and capabilities if both plans as it tries to eliminate the disadvantages of both plans. The plan begins with a user who recruits two members on the next level, putting them on the left and right leg while other recruits are pushed over to the next level underneath the two previous members earlier mentioned. The level continues to grow in depth.