Multi-level marketing, or MLM, is a business model that has gained popularity in recent years. MLM companies rely on a network of independent distributors to sell their products or services, and distributors earn a commission on their sales as well as the sales of those they recruit into the business.
One place where MLMs have become particularly prominent is in Business Networking International (BNI) groups. BNI is a networking organization that brings together business professionals in local chapters to exchange referrals and support each other’s businesses. While BNI groups are intended to be a platform for traditional businesses to network and generate leads, some MLMs have infiltrated these groups, leading to concerns about the legitimacy of the network.
So how can MLMs in BNI groups create credibility and build trust among their fellow members? Here are some tips:
- Be transparent about the business model
MLM companies often face criticism for their complex compensation plans and recruiting practices. To create credibility within a BNI group, it’s essential to be transparent about the business model and how the compensation plan works. Explain how distributors earn commissions on sales, as well as how they can earn bonuses for recruiting others into the business. This level of transparency will help you build trust with fellow members and establish yourself as a reliable and trustworthy business owner.
- Focus on the product or service, not just the opportunity
One common criticism of MLMs is that they prioritize recruiting new distributors over selling products or services. To create credibility in a BNI group, focus on the quality and value of the product or service you are offering. Highlight the unique features and benefits that set your product or service apart from competitors. This will demonstrate that you are focused on providing value to customers, not just recruiting new distributors.
- Don’t oversell or exaggerate
MLM companies sometimes use hype and exaggeration to attract new distributors and customers. However, this approach can backfire, especially within a BNI group where members are looking for reliable and trustworthy business partners. Avoid overselling or exaggerating the benefits of the product or service you are offering. Instead, focus on providing accurate and honest information about what you offer.
- Be a good networker
Networking is the cornerstone of BNI groups, and MLM distributors can create credibility by being excellent networkers. Focus on building relationships with other members and referring them to other businesses when you can. This will help you establish yourself as a reliable and valuable member of the group.
In conclusion, MLMs can create credibility within BNI groups by being transparent about the business model, focusing on the product or service, avoiding overselling or exaggeration, and being good networkers. By following these tips, MLMs can build trust and establish themselves as legitimate businesses within the BNI community.
