Network Marketing and Promotions

Does offering promotions to your prospects attract the wrong type of person for your network marketing business? It depends on how you do it and what you offer.

Today’s economy coupled with the “something for free” and “get rich quick” mentality that many people have adopted in the recent years pushes many networkers to feel as if they need to offer something more than their business to win the business of others. While this can offer some quick results in the short term it will lead to higher attrition in the long run.

The Start Your Business for Free Promotion.

Is your company offering a start your business for free option? We all know that starting a network marketing business is just like any other business- it takes diligence, sweat, hard work, and an investment of not only your time but your money.

Is offering a way to start a business for free the way to go? What kind of loyalty are you going to get? What kind of drive and motivation are you going to get? What kind of value?

Take this example:

You see a couple of high school boys with their cars. One has a brand new convertible that his parents got him for his sixteenth birthday. He is reckless with it, it is dirty and unmaintained. The other has a ten year old four door sedan that he bought from cutting lawns in the summer. It is clean, shiny, oil changed- as pristine as he can get it.

And what is the difference? Value. Investment. Work. If you hand someone something on a silver platter it is not going to mean as much as it would if they had invested in it.

Some network marketers will argue that if you focus on getting their foot in the door and off the street you will have the chance to show them the value in hopes of converting them to a paying business partner. That giving them a sense of the camaraderie of the business and more of an insider look will help your conversion rate.

But in reality what ends up happening is you spending a lot of time training people who run in the other direction when they realize that network marketing is a real business that takes work.

The only 24 hours until the price goes up tactic.

How many times have you seen this on a website only to go back two weeks later and see the same thing still there? This type of pressure tactic only works for a certain personality. Many people will feel threatened by this and most of those who do join only join because they are afraid to miss out- not because they think your business is the right one for them.

If you do offer promotions like these- stick with them. If you truly have a 48 hour promotion keep it a 48 hour promotion and then let it end.

There are times that this tactic does work well. Namely, when people have already joined your network marketing business and you are wanting to offer a special on a product or an upgrade promotion. These people already know your business because they are in it and are just being offered a limited time promotion.

The added bonus promotion.

This is the best promotion for a network marketer to use and see tangible and lasting results. With this promotion you are not discounting product, you are not pressuring people to make a snap decision but instead you are offering them value.

The added bonus promotion can be in the form of additional product items received but you will increase you profitability and the longevity of your new business partners if you give added bonus items that teach skills and offers real business building tools.

So what can you offer as an added bonus?

  • Coaching sessions and trainings that are special to your team
  • Ebooks and cds that you have the ability to give away for free
  • A list of blogs, websites, and forums that are good for your particular company
  • Tutorials on promoting your business

By combining a few of the above items you can put together a pretty impressive package that draws people into wanting to be on your team and in your business. This will attract the type of person who is looking for a real business and a real opportunity.

So should you use promotions in your network marketing business?

Yes- if it gives value, provides a building tool for your new members, adds longevity to your members, and projects yourself as an innovative leader in you company.

No- if you are pressuring, using the something for nothing mentality, or giving something away that will leave you with little to no profit.

Choose your promotions wisely- they can make or break your network marketing business.