More network marketing terms
As you might have noticed in my last post, all of the network marketing terms were in alphabetical order. One might have been led to believe that I was going to go through the entire alphabet. One would have been right, of course. I decided to split the glossary in to two parts.
Quite frankly, I did this because I was too tired, last night, to write them all in one post. Maybe one day I will consolidate them, but for now, you will have to click on this link to see the network marketing terms in the first part of this glossary. A glossary of network marketing terms.
Let’s continue with the second half of the glossary, now.
Level – All network marketing companies have sales and recruiting goals to be reached. These goals are called levels. As you make more sales and help other people to progress through the levels, you will be promoted to various levels. Many companies use precious gemstones to describe their levels. You may hear terms like, Emerald, Ruby or Diamond to describe the level one has reached in the company’s compensation plan. Sometimes a “level” can be called a “rank.”
Objections – These are the excuses that prospects will try to use when you telling you why they do not want to participate in your business.
Organization – When you join a network marketing company, you become part of someone’s organization. Since they recruited you, they will be above you in the company’s structure. You will be in their downline. As you recruit people into your organization, you will be above them. You will be their upline. If you meet someone who is in the company, but not in your upline or in your downline, they will be in your sideline.
Presentation – There are two different kinds of presentations. The first is when someone shows the compensation plan to a prospect. The other is when someone demonstrates the product or products that their company has to sell.
Prospects – Anyone who says that they have an interest in owning their own business or anyone who wants to earn extra money. A prospect can also be someone who is interested in buying a product from you.
Qualifying – This term is used when talking about a line of questioning that is used to determine whether or not someone is interested in joining your business. This is, perhaps, the most important activity that you will do to build your business.
Sponsor – The person who signs you up into the business is considered your sponsor. When you bring someone into the business, you will be that person’s sponsor. As a verb, sponsor is used to describe bringing someone into the company.
Training – This is the education and practical application of the knowledge that you will need to learn in order to build your business. Unfortunately, many companies offer little to no real training. Look to your upline for training. Or just read my blog!
Volume – There are several types of volume in network marketing. Generally speaking, volume can refer to a distributor’s total sales of the company’s products. It can also refer to the total sales of the distributor plus the total sales of the distributor’s downline. How volume is calculated varies from company to company. Refer to the particular company’s literature to find out how they calculate volume.
Warm market – This term is used to describe a distributor’s list of contacts. The warm market list will consist of relatives, friends, neighbors, co-workers and other people who they come in contact with on a regular basis.
That concludes the second part of the glossary of network marketing terms. This list was compiled to show what I consider to be the most often used terms in network marketing. These terms are used when speaking to prospects about joining one’s business. Unfortunately, most people outside the network marketing world have no idea what any of these mean.
If you are talking to a prospect, do your best not to use any of these terms! If you insist on using any of them, please define them for your prospect because they probably have no idea what they mean!
I know that there are many other terms in network marketing. If you would like to suggest one to add to the list, leave it in the comment section below. Thank you!
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