And your products and services must be the anchor of your MLM business.
If you are looking at a company that has bad products, so goes your business. You MUST be sure your company has QUALITY Products! QUALITY creates part of the VALUE in the prospect’s mind!
Your products create the value to the consumer, and you must be able to talk intelligently about what your are offering to them.
There are many types of products to market in MLM:
Nutrition. Skin Care. Technology. Vitamin Drinks. Legal Services. Internet Malls. Toys. Food. Cars. Real Estate. Computers. Educational Materials. Make up and Cosmetics. Water Filters. Air Filters. Cell Phones. Long Distance. Electricity. Diet and Weight Loss products. Anti Aging Products. Music. Books. Scrap Books. Religious Materials and Products. Clothes. Personal care items. Mortgage Services. Financial Services.
The list of MLM Product Possibilites is almost ENDLESS.
But here is a warning:
Do Not get too detailed about your products and services you choose, no matter what you choose to sell …you see, people really don’t care, for the most part, about the ingredients or technical aspects of your products and services…
Most people have one question about your products and services…”How are they going to improve my life..and do they really work?” This should drive your choice of products.
Your job is to educate, NOT SELL, the customer on the merits and value of your product and service line. If you educate them, and you will learn later in TrainingFire how to do that, you will find them much more open to trying them….
The Rules of MLM Product Selection.
What type of products and services does your company provide you? You must know what we at PassionFire call the “Rules of MLM Product Marketing,” to help you select the products right for you.
There are 4 of them:
1) “The Rule of Details.”
Don’t get lost in the details of your products and services…get lost in the VALUE that they bring to the customers life. Learn about what you are marketing, but then blend that in with how it will help CHANGE their life. (CLUE!!!!!!!!!!!)
2) “The Rule of How to.”
You must understand how your products and services do work, but only to the point of being able to talk intelligently about them. Don’t overwhelm the prospect with your knowledge, but EXCITEMENT about the products.
3) “The Rule of Focus.”
Keep your focus on the MAIN product and services….if there are a LOT of them, keep your focus on the ones that are the main ones, and learn about them, and master what you need to talk about them. The others, you need to be aware of, but keep your focus on the MAIN ones, and know how to talk about them.
4) “The Rule of Value.”
You will never market any products to anyone if they don’t see VALUE in what your products. Know what the value is to the consumer with your products, and know, when it is prudent, the overview details of the products to enhance the value of your products.
The 2 Kinds of MLM Products.
What kind of products and services are there out there?
These are the products you can TOUCH, SEE, SMELL, and TASTE. They are the ones you can hold in your hand, like make up, vitamins, diet powders, cleaning solutions, part favors, toys, and the list goes on.
And the Tangibles are the biggest portion of the industry, especially the supplement portion,because most people like to market what they can TOUCH and FEEL.
Intangibles are the products and services you CANNOT touch, see, and feel. They are the services like Internet services, Legal Services, Tax services, Life Insurance services, and similar types of products and services. It is a very fast growing part of the MLM industry.
These products you need a little more detail knowledge about them as to show the customer they can provide VALUE to their life. And the understanding of HOW they work will provide some good conversation with your prospects on the benefits of owning your services.
You need to ask yourself some questions about your products.
“What would be my favorite product and why?”
“How would my products benefit people and change their life?”
“What products does the company sell the most of?”
“What is the average price of each product?”
“What has some great testimonials about your products?”
“”How large is the market for your products and services?”
“Who is your competition?”
“Why would somebody want your products?”
“What products seem to have the most SIZZLE about them?”
Most MLM companies have multiple products, and the one you like the most, you will be the most PASSIONATE about, and will talk about the most.
The product you have the most PASSION about, you will create the most value for.
The Passion Value Rule for Network Marketing Products.
That is what we call the “Passion-Value” Rule. Know what you are the most passionate about, and you will have the most “Emotional Attachment” to, and that would be the product you will be most likely to talk about the most.
Know your products ands services line that you choose. Understand the overview of them, and focus on the MAIN ones, and keep your focus on those for the most part. Have and understanding of the other products and services, but usually, 80% of your volume will be done by 20% of the products. Keep that in mind.