Topics
- Difference between affiliate marketing and network marketing
- Tips and tools for avoiding failure in network marketing
- Importance of using robust MLM software and getting international support
Video summary
In this video, Robert Procter discusses the difference between affiliate marketing and network marketing. He provides tips and tools to avoid being part of the 90% of network marketing companies that fail. Affiliate marketing is digital and involves promoting products through banners and links on the internet, while network marketing is a relationship-based business that involves personal connections. The compensation plan and software used in each type of marketing are also different. Procter emphasizes the importance of using robust MLM software and getting international support when launching a network marketing company.
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Affiliate Marketing vs. Network Marketing
Many people confuse affiliate marketing with network marketing, but they are actually different concepts. Affiliate marketing is a digital form of marketing, while network marketing is more personal and relationship-based.
In affiliate marketing, you promote products or services through banners, links, and emails. Your goal is to drive traffic to your affiliate program and generate sales. There is no need for personal relationships with friends and family. For example, if you own a pet store, you could join the Amazon affiliate program and promote pet products on your website.
On the other hand, network marketing is all about building relationships. You reach out to your friends, family, and acquaintances to introduce them to your business opportunity. This form of marketing relies on personal connections and trust in order to grow.
Differences in Compensation Plans
The compensation plans in affiliate marketing and network marketing also differ. In affiliate marketing, the compensation plan is usually simple and straightforward. You earn a certain percentage (e.g., 10%) on your first level sales and a lower percentage (e.g., 5%) on your second level.
Network marketing, on the other hand, has a more complex compensation plan. It often includes matching bonuses, generational bonuses, and ranks. The compensation plan incentivizes distributors to reach higher ranks and offers rewards for achieving those ranks.
Differences in Software
Another difference between affiliate marketing and network marketing is the software used. Affiliate marketing software is basic and does not offer much flexibility for customization. It is usually inexpensive and can be downloaded from the internet. In contrast, network marketing software is more robust and allows for modifications and tweaks. It is often provided by software companies specializing in network marketing.
Importance of Support
If you are looking to launch a company, whether it is affiliate marketing or network marketing, having the right support is crucial. Affiliate marketing software packages typically offer limited support, as they are often developed by a small team with limited resources. On the other hand, a robust MLM software package provides extensive support and assistance in launching and running your network marketing business.
I have been consulting with various companies for over 20 years and have witnessed the importance of having the right software and support for launching a successful affiliate or network marketing company. If you need guidance or have any questions, feel free to contact me. I'm here to help.
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