How small businesses and start-ups are leveraging network marketing in 2021

consumer behaviour
Isometric Referral marketing, network marketing, referral program strategy, referring friends, business partnership, affiliate marketing concept.

Just how traditional business have changed over the last 18 months, so too has the world of network marketing. COVID-19 forced many small businesses to operate online and from home for the first time in their existence, and start-ups had to put their big plans and dreams on hold. However, the challenges that knocked down small businesses and start-ups over this period, merely brushed up against the foundations the network marketing industry has built and fostered their businesses from within.

Network marketing has been enabling distributors to work online from the comfort of their own homes for many years and has already adapted to the new world on eCcommerce. Network marketing is the distribution of products and services through a network of people, rather than through traditional supply chains. The philosophy behind it is that instead of spending thousands on marketing and advertising through traditional channels, network marketers simply reward people to refer and distribute products and services via word of mouth referrals, and more often these days, online via social media and websites.

The vehicle of network marketing can steer the lives of small-business owners towards a life that is rich with time, freedom, balance and income – something that very few start-ups can relate to. There are three key ways that small businesses and start-ups can leverage network marketing in 2021 to improve their business and personal life:

1. Find business buddies

The life of a small business and start-up owner, while being incredibly rewarding, can also be extremely lonely. As a small business you can probably relate to the experience of working alone for long periods of time in isolation without a team of staff to bounce ideas off or share your highs and lows with.

Through network marketing you can achieve the personal and financial freedom you set out to achieve by building teams of like-minded individuals – it is literally part of the job. Learning how to network and form relationships in order to partner with people who are open to an alternative method of generating income is a skill that can be conveyed into the world of traditional small business.

2. Overcome economic changes

COVID-19 spelled carnage for countless small business and start-ups. In today’s employment economy where job security is not guaranteed, entrepreneurs should take a serious look at network marketing and perhaps rethink any misconceptions they hold towards the industry.

As the economy dips and rises, small business can often feel every ripple in the wave. Network marketing is proven to ride the wild and unpredictable waters and can teach business owners how to adapt their business to changing economic conditions.

3. Develop new eCommerce skills that bring your start up into the new age of business

The most significant change to network marketing industry is that it can be 100 per cent online now. There is no need to ask your family and friends to join or host a party because you can build your business from your phone with people from countries all over the world. With an online store optimised to produce real-time sales, you have the opportunity to literally set and forget. This means you do not have to sell the product or opportunity to anyone. While it will take longer for you to achieve financial results, it is possible, and just one example of how network marketing can be customised to reflect your individual skills and selling style.