How Network Marketing and Social Selling Have Evolved in the Last 5 Years
REGINA VISCOUNT-KING
Helping Women 50 or Better Add a Splash of Style & Happiness to Everyday Things
Hi, I’m Regina. I’ve been in network marketing (aka direct sales for a little over 20 years. The first company I was a rep for was a home decor company based in the south. It was the beginning of the “McMansion” era and my business was booming!?
Friends, family, neighbors etc would offer to host a few friends for a couple of hours, and I would display the products and suggest how to decorate. As a thank you to the hostess for inviting friends and putting out “something sweet, something salty, and something to drink, they would earn free and discounted products, and I would earn a commission. We were sort of business partners for a week or so.
It was a perfect way to earn extra cash and other incentives such as jewelry, trips etc. However, shlepping all of that pottery, glassware, and wrought iron that was popular in the early 2000s as well as sending postcards/invitations and making reminder calls and waiting for the last straggler to place an order at 10pm only for her to say, I’ll just take a catalog” is not something I miss.
Wow, how things have changed! There’s no need to look 20 years back for significant changes, just take a look at the last 5 years…
Network marketing has transformed significantly since 2018, presenting exciting opportunities for success. In 2018, network marketers primarily relied on conventional networking approaches like vendor events and home parties. Fast forward to 2023, and network marketers are harnessing cutting-edge technologies and innovative strategies to captivate their target audience.?
The rise of social selling
One of the most remarkable developments in network marketing is the integration of social media. In 2018, a lot of network marketers were just beginning to explore the potential of social media for connecting with potential customers and believe it or not, many companies didn’t condone using media. ?
However, today, social media has become an indispensable tool for network marketing success. Savvy network marketers utilize social media platforms to “market” and showcase their products or services, cultivate meaningful relationships with potential customers, attract new distributors, and hopefully educate their network about their products and services vs just “selling.”?
The shift to online sales
Another notable transformation in network marketing lies in the way we promote our offerings. Friends/family and home parties were the primary methods employed by network marketers in 2018. However, in 2023, network marketers have embraced the online realm, selling their products through personalized websites or popular platforms such as Instagram and TikTok. This shift has enabled network marketers to access a much larger audience and connect with customers worldwide. It’s come a long way from hand-writing orders and credit card numbers. (Yes, this really happened).
Why network marketing is a sustainable business model
So, why has network marketing caught the attention of financial experts and thought leaders as a sustainable business model? Several factors come into play. First and foremost, network marketing is a low-cost business venture, requiring minimal initial investment and allowing for flexible work arrangements from the comfort of your home. Secondly, network marketing presents an opportunity to build a personalized and progressive business and earn a passive income. Lastly, network marketing provides an excellent platform for expanding your network, meeting like-minded individuals, and forging valuable friendships. *Most companies also provide training on sales, marketing, and leadership which is a great value-add.
领英推荐
The ideal personalities and previous professions for network marketing
Are you wondering which personalities and previous professions are best suited for network marketing? Successful network marketers typically exhibit traits like extroversion, effective communication skills, and the ability to foster relationships. Out of those three, I feel that the ability to build relationships is the most important. When it comes down to it, other people lead us to our results and nurturing relationships can the fast lane if they know, like, and trust you.
Individuals with backgrounds in sales or customer service often find success in network marketing due to their existing skills and experience, providing them with an edge when it comes to connecting with people and promoting products. However, over the years my most successful sales teams have been a melting pot of cultures and careers.
The beauty of network marketing is that you get to decide who to market to and how. Personal networks are still foundational to this business, and a lot of times, people in our network are a lot like us. Meaning you don’t have to have experience in customer service or sales. There’s no reason to be slick. Simply identify a problem that the company you rep has a solution for and present or “market” it in a way that your network responds to. I’m 55 years old and rep a personalized, Rx skincare and weight management line. My “network” is interested in the solutions I can offer them access to.
The perfect time to start a network marketing business
If you're considering embarking on a network marketing adventure, 2023 is an ideal time to seize the moment. The industry continues to flourish, brimming with opportunities for prospective achievers. Given the right blend of personality traits and skill set, you can forge a lucrative network marketing business and achieve your financial aspirations.
If you want to learn more about network marketing or social selling in 2023, please set up a call to see if it’s a good fit for you. We can discuss which products and companies might appeal to you and also be useful for your network and those who follow you on social media.
Book it here...
Thank you for reading.
.