Defining 10 commonly used network marketing terms
If you are prospecting a new person, there will be a temptation to use the jargon of the business. You know, those specialized words that no one, outside the business, understands. I would highly recommend that you stay away from using any of these terms with a new person. When you use them, you hear, upline, downline, sideline. Your prospect hears, “I can’t believe you don’t what all of this means.” You’re going to make them feel dumb.
If you have been a prospect and the person who was talking to you has used these types of words, wouldn’t you like to know what the heck they were saying?
Here you go. A glossary of the most commonly used network marketing terms.
Active – You may think that anyone in the business is considered “active.” However, most people who are in network marketing are actually inactive, at least from the point of view of their network marketing company. Most companies define someone as active if they are receiving a check from the company.
This means that if someone joined the company to get a discounted price on the products, they are not active. Also, there may be people who are selling the products, but not meeting the minimum sales volume to receive a check. These people will not be counted as active either.
Autoship – Most companies require all the people who are in their business to buy a certain amount of the products every month. These products are automatically shipped to you. Hence, the term autoship.
Bonus – Some companies offer special gifts or prizes to people who reach certain sales goals. Bonuses can be in the form of money, vacations or cars.
Compensation plan – This is the presentation that you will see in order for you to make a decision about joining the business. The compensation plan usually tells a prospect what the business sells, what you have to do to make money and how much money you can make as you reach certain sales levels. It can also be called the comp plan, the plan or a business presentation.
Distributor – Anyone who signs up to be part of a network marketing business.
Distributor kit – When you join a network marketing company a person will receive a box of marketing material and sometimes it will even contain samples of the products that a distributor will be trying to sell. It can also contain sign up forms for any new distributors that are signed up, legal forms dealing with your agreement with the company and a copy of the compensation plan. There could be motivational items included as well. Last but not least, there is the ever popular memory jogger. This is a form where you can write down the names and phone numbers of everyone you know.
Duplication – This is the process recruiting new distributors into your business and teaching those new distributors to do the same thing. Once everyone in your business is recruiting new distributors, then you will have a large and successful business.
Edify – When you edify someone, you say nice and true things about them. You usually edify someone who is going to help you to recruit new people. If you bring a new prospect to a more experienced person in your business, you will want to edify the helper to your prospect. This is done to make the person who is helping you to be seen as an expert in the business and someone who can be trusted.
Enroll – When you recruit someone into your business and they sign the paperwork, you are enrolling them. Basically, when someone joins your business.
Follow up – The follow up is perhaps the most important activity that you will do in your business. To follow up is talking to someone about your business after your initial meeting. The object of the follow up to move a prospect to the next stage of the recruiting process. The final stage of this process is collecting a decision. Do they want to join your or not?
Those are 10 of the most commonly used terms in network marketing.
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