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Sustained Growth Part 2 - The Product

In order for an MLM company to be successful there needs to be a fair exchange of value. To put it another way, your clients must want to purchase your product or service, regardless of the fact that there is a business opportunity attached. Let’s assume that you have an amazing product at a good price point and that your network is comfortable with the value the product provides.

Your first responsibility is to lock in product belief. Every new member made a commitment to your business in some form when they joined. Not only that but they have also given you permission to teach them everything you can about the product. If you are good at product training, you will turn believers into evangelists. 

An IBO that believes in the product, heart and soul, will tell everyone they meet about the product and will not be fazed by any negative feedback. I have witnessed two teams selling the same product get radically different results. The team with a strong product belief achieved stellar results while the team with mediocre product training failed dismally. 

The kicker is that the IBOs who receive excellent product training will buy your product or service even if they stop doing the business. The fact that a high percentage of people do the business for a season and then quit is mitigated by good product training. It has been my experience that a well-trained inactive IBO can be your most loyal customer and that is truly valuable.     

Creating credibility is essential to instilling belief. You must be able to back up any claim you make with irrefutable proof. Every product is different, so I am unable to provide specific advice but think of your product going on trial and find a way to defend every possible counter claim that the prosecution is likely to make. 

An excellent way to gain credibility is through endorsement. If you can get a celebrity in your specific field to endorse your product then your product gains the status and credibility of the celebrity. The person you choose does not necessarily need to be famous, they just need to be well respected in their industry. You are then able to point at their achievements and their endorsement of your product. 

A powerful marketing and advertising strategy needs to be developed by the company for the product range. If you provide high quality marketing support in the form of brochures, a website, product samples (where possible), and a below-the line and above-the-line advertising campaign, you can leverage the network’s advertising and marketing budget. I have created a series of blog posts related to this aspect of the business. The bottom line is this - if you can get 10,000 members to spend $100 per month each, you have a $1M per month advertising spend. Your product will be everywhere, and this is credibility that will rival the biggest businesses in the world. Please read the blog series on Marketing Strategies.