It is also called Multi-Level Marketing. Network marketing is the fastest growing business worldwide. Network marketing is a tactic to achieve any service or product directly from the business to the consumer. In this system, the consumer connects directly with the company and purchases the product. Because of this, the company gets some benefits to the consumer, which can add discounts, cashback, more reliable products, etc.
There are generally 2 ways to sell any product or service:
- Traditional Marketing
- Network Marketing (Direct Selling)
(1) Traditional Marketing In this region, the company enlists the help of several intermediaries (distributors, wholesalers, agents, retailers) to get the product to the customer. And in this type of marketing, the company also invests a large portion of its turnover in advertising. The customer then buys those products from the market.
(2) In-Network Marketing, The company provides products and services directly to the customer. And in this marketing, customers are the distributors who promote the products and services. In which the company distributes a large portion of its benefits (about 50% - 60%) to the customer and the customer gets the opportunity to earn extra income.
History of Network Marketing:
Network marketing started in 1930 by Carl Rehnborg, a great American chemist. For the first time, he explained the health benefits of using dietary supplements in food and started the first network marketing company called California Vitamin Company, based on Supplement where this Marketing Started. And the name of that California vitamin company was changed in 1939 to Nutrilite. Today network marketing has become the fastest-growing business in the world.
Network Marketing in Asia: Network Marketing in Asia occurred in 1995. And today it is a very fast-growing industry here. The Government of India adopted the fast-growing industry and issued guidelines on 12 September 2016. Due to which the network marketing in India has increased more rapidly, it is expected to grow more rapidly. According to the report of FICCI and KPMG, a government organization of India, Direct Selling will become a 625 billion (62500 cr.) industry in India in 2025.
Benefits of Network Marketing:
Time Management: Time is the most important and precious thing in the world. In network marketing, we are taught to plan the whole day, here we learn to use the time properly. Those who used to give time to useless things (like TV, mobile phone, gossip), learn to use the same time properly. Here we have to change our habits, which brings positive changes in our life because a great scientist APJ Abdul Kalam says that we cannot change our future but we can change our habits, and that changed habits are our future will change. That is, our habits make our future.
Positive Thinking: Our perspective on network marketing changes. We start looking at anything from a different perspective, it is all because of good company.
Extra Income: Probably everyone in the world loves an Extra Income, and Network Marketing is the best way to Earn Extra Income. Here the person can make the desired income.
Personality Development: In network marketing, one gets to learn everything that is not taught outside or in a college. It is here that we form teams that bring leadership skills in us. We learn to multiply time here. Public speaking (peoples speaking) is taught here in an effective way, you cannot learn public speaking even by paying millions of money.
Communication Skill: In network marketing, you learn to put your idea in front of a person in an effective manner, and to influence it through your conversation. Which is useful for a person all his life. Communication skills can lead you to influencer marketing which can give you more power to grow your business.
People Skill: In network marketing, there is also a skill to learn, which helps a person throughout his life. Because network marketing is a people's business. Here you work with people, the biggest advantage is that you become a practical person. People want to meet you, talk to you, and you become their dear friend.
Passive income: There are generally two types of income - active income and passive income. As long as a person works in active income, money comes when he does not work, then money does not come. But in passive income, the person comes to work or not. And once a team is formed in network marketing, Passive income starts coming, whether you work or not, your team works for you. Actually the team works for themselves but indirectly works for you as well.
Help to Others: When a new person comes into this business, the whole team helps him to move forward. Whereas in the outside world people are engaged in pulling each other's legs. In network marketing, people work for each other's success.
Financial Freedom: Through this business, any person can achieve financial freedom by working hard. And diligently in 4 to 5 years, here you can make any money you want. It depends on you, how much you want to earn.
Freedom of time (Time Freedom): Network marketing is a business, which gives us the freedom of time. In this business, you are nowhere around, or sometimes You don't earn, yet you keep earning.
Honor (Fame): In network marketing, respect is given as much as even big leaders, and actors do not get it. You are welcomed wherever you go if you succeed. Lots of people are lined up, to click a photo with you, to take an autograph. People here are inspired by you and want to be like you.
Friendship with Good People: Since network marketing is a business of people, here you meet new people every day. And you have friends with people whom you did not know who have a successful mindset, they want to move forward in life. Here you get a culture where everyone thinks of moving forward. People Inspire (Inspire) others to achieve their goal.
Presentation skill: In network marketing, people learn to present things well. Which includes board presentation, laptop presentation, paper presentation, etc. Here you learn how to present things in the manner of a professional. How to gain the trust of customers for your business easily.
Benefits in Network Marketing:
Risk-Free Business: There is no risk in this business because it does not start in millions. Rather it starts with very little money, so there is no fear of loss in this business.
No Time Boundation (No Time Limit): Any trade has a time limit that can last for so long. But network marketing business can be done at any time, even if it is two in the night.
Unlimited Area for Business: This business can be done anywhere in the open market. If you have gone somewhere to roam, you can do this business there too. But it is not in any other business that you can go anywhere with your shop. In network marketing, you are a shop on the go. Where you are in your business.
Freedom of Age: In this business, whatever your age, you can start this business. Whether your age is 25 years or 75.
We hope that you know what network marketing is? (what is network marketing?) and the benefits of network marketing.
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