Network marketing statistics for failure rate are so high.
Network marketing statistics are pretty alarming! 97% of all network marketers fail. Why are so many people failing?
The main reason people fail is because they don't know how to market. Look at the word network marketing.
Net is the internet, which is being left out of the company training. And the most important word is marketing.
People with no marketing experience are now leading other people with no marketing experience. Its like the blind leading the blind.
Another reason this network marketing statistic is so high is because people want the easy, quick dollar.
First off, nothing worth having is quick and easy. The false expectations create a mindset that can only see short term.
This is a business, just like any other business. Your business is going to take time as well as money.
It takes money to make money. In order to make money from your business, you must first put some in. Most people treat their business like a hobby.
Treating your business like a hobby leads to the high network marketing statistic of 97% failure rate.
The lack of marketing knowledge leads network marketers to do ineffective things (conference calls, meetings, driving to and from presentations). These things aren't effective income producing activities.
Would you rather ride a pedal bike or drive a car from New York to LA? Now the most efficient way to get there is on the bike. The most effective way is to drive a car.
Most people in network marketing are using a pedal bike. They are efficient because they are doing "busy" work, but not really accomplishing anything.
You must know how to generate your own quality leads. Relying on recycled lead list leads to a dead end. This is why you want to know how to brand yourself and market yourself, not your company.
Knowing how to market and brand yourself is a way of attracting prospects to you. The use of effective marketing techniques produces results.
Ineffective busy work slows your prospect funnel. Yeah you bother everyone in your phonebook, but after they won't talk to you who do you call then?
Network marketing companies are responsible for not providing true marketing education. They just want you to pester everyone you know.
The big corporations don't practice their business like that. That is why it is so important to know how to market.
So the lack of proper training, false expectations, lack of marketing knowledge, and ineffective income producing work leads to the alarming statistic of 97% failing.
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