The party plan model is an MLM application for direct sales. It works by hosting social events where products are marketed and sold. This innovative approach to direct sales is also known as social selling. So, how does social selling work? Social selling works by influencing your social networks in order to find the right prospects, which in turn, builds a trusted business relationship and your credibility.
This is a networking strategy designed to increase your income stream by simply answering questions from potential buyers and prospects. The goal, in the end, is winning them over, so they attend your social event. Your answers should be thoughtful and related to the question. Potential buyers are more likely to buy from you when correctly addressing their concerns. This will also show that you have good social interaction skills, and it also helps to boost your page authority.
How Does Social Selling Work in the Real World?
In the real world, social selling works the best by using the party plan marketing approach on platforms such as LinkedIn, Twitter, and Facebook. These platforms provide a very large audience of potential prospects and buyers, which also includes your friends and family members. There are lots of ways to launch a product without sounding sales driven. Try to write the best viral post that you can about your product and party plan and let the power of “likes” and re-posted content do the work for you.
Encourage the readers to ask you questions when you write your party plan post. When you start receiving questions or comments, be sure to answer them in a timely fashion and become part of the conversation. When you do this, it shows that you have an active interest in what people are saying about your product and social event.
Being a good salesperson with effective communication skills will help to:
- Gain visibility within your target market
- Establish credibility
- Create relationships
- Boost your authority
- Define your reputation
- Deliver value and experience to your target market
Why Use Party Plan & Should You Try Party Plan Direct Sales?
Absolutely, if you’re someone who is a social butterfly and active on social media platforms while being conversational? You have the skills required to be successful at party plan direct sales. Getting started with this party plan model can be a fun and exciting way to boost your social selling and direct sales skills. You should also consider party plan software to keep track and coordinate your party plan business.
Can You Make Money With the Party Plan Model?
Yes, and here’s why. If you can get people to your residence and have a good party plan featuring your product(s) with delicious refreshments, then you can make money with the party plan model. The party plan model is geared toward promoting products in your free time, which can be a great way to earn some extra money. You get the social benefits of hosting the event while receiving the party plan commissions from the sales of buyers in attendance.
Social selling is addicting once you get the hang of it, but the more sales you generate also creates more paperwork and files. Most professionals in this field use party plan software to simplify their party plan business.
How to Earn Money With MLM and Party Plan
Earning money with multi-level marketing (MLM) methods generally involves selling services and products to individual buyers one at a time, whereas party plan marketing representatives utilize the group-selling approach. If the product and your amazing demonstration are influencing the majority of the group to buy it, this is a good indicator that your approach is working and the reason why you should use the party plan as your business model.
Why Use Party Plan & Party Plan Software?
The party plan model is fun and financially rewarding because you can earn a lot of money in a lot of different ways. Generally speaking, you get paid a base percentage of the product’s retail value as well as on several different levels from the people that you recruit.
As your business and the size of your group grows, the more difficult it will become to keep track of your party plan commissions as well as your recruit’s commission payments, which directly impacts your bottom line. Party plan software is a key component to running a successful business because it does the paperwork for you and streamlines your party plan with ease.
How Does MLM Compensation Work?
The easiest way to explain how this works is by looking at your MLM compensation as a payout tree and one that branches out as your business expands. As an illustration, it’s not uncommon to get paid 10 percent, three levels up. Meaning, the purchaser is the first one to get paid in the tree, and they are considered to be level one.
As a social seller, in most cases, you would be the first one in the computer’s MLM software identified as level one. When a sale is made at your social gathering? You grow a branch to level two payout for another 10 percent. The next purchase grows a level three-branch with another 10 percent payout, and it’s at this point when the merchant may be done paying.
However, your compensation tree has the potential to grow smaller branches for even more money. The beauty of multi-level marketing is that you can get a small percentage of your recruit’s sales, which will deeply root your payout tree with sales from people who don’t even know you. As you can see, keeping track of business matters is paramount as your tree grows with money and people. This is where a professional party plan software company becomes a major asset to your MLM business.
What Are Good Social Selling/Party Plan Products to Try?
Most people can remember when Tupperware parties were popular, this is a classic example of social selling. This type of business model is very popular among women across many demographics. Some of the best party plan products currently trending include:
- Makeup, skincare, and beauty supplies
- Purses and handbags
- Clothing and accessories
- Food and beverages
- Wine and home-brewed beer kits
- Jewelry and wristwatches
- Exercise equipment and fitness trackers
- Houseware products
- Vitamins, supplements, and CBD products
How Trinity Software Can Help Grow Your Party Plan Business
As this informative guide come to an end, it’s clear to see why you need a software company to keep your Party Plan business on track. Trinity Software has been helping major corporations for over 25 years. We have extensive experience and guidance to help you succeed.
We’d love to work with you. Feel free to call us or click to schedule a Firestorm demo to see how this state-of-the-art software can help to grow your MLM business. The most successful network marketers have Trinity’s Software running in the background.
Learn More About Social Selling & The Party Plan Model:
The Party Plan Model
Ok, and one thing that I have not talked about yet, it is very important to our industry is there is a concept that actually rolls all of these into one and it’s called Party Plan. Or more commonly known today as Social Selling. This type of plan, versus these, this is more of a social interaction between a group of people who are selling a product that benefits from being demonstrated in front of a group of people. Well as you know, when you go to the mall and you’re shopping and you see something and you can pick it up and feel it and touch it, you’re more likely to buy it. So that’s where party plan comes into play. It’s very social. It’s fun, it’s more geared around fun and not just hard-core sales.
Why use Party Plan?
Now, as we move forward – why do this? There’s two reasons you’re watching this video. One, you want to start an MLM company. Or you want to participate in an MLM company and potentially make money. So, it’s like, “how can I earn money with this stuff?” So, what I’m going to do is talk for just a minute, generically, because depending on what your company offers, commissions will be paid differently, but they’re all based on these structures, ok?
So, if an organization comes in, let’s say that this person here buys something. When that order is placed, it has a monetary value, ok? Let’s say it’s one-hundred dollars, for simplicity’s sake. Say we’re paying ten percent, three levels up, ok? So, the way the computer system’s going to track this is that this person is the purchaser – they’re not going to get a commission unless the company offers that. That’s always a possibility. But the first person up that we’re going to pay is going to be this person. They’re going to be, as far as the payout is concerned, they’re going to be level one. So we’re going to pay them ten dollars. And we’re going to trace on up the tree to this person. They become the level two payout. And they would also get ten dollars because remember we’re paying ten percent for three levels. And then we trace on up the tree and they get ten dollars. They become the level three payout. So we’ve paid one, two, three levels. And we’re done. Now this is a very simple example, but this is where you can level the power of multilevel marketing to make a lot of money off of people that you many not even know because they are deep enough in your tree. And depending on the compensation plan that your company offers you there could be ten or fifteen different ways to get paid. And it’s important that you understand that they’re all based on this so that as you’re growing your organization you know where you need to put people in your tree so that you can maximize your commission check, ok?
So that’s where the power of all of these. And you say, “Ok, which one should I use?” Well, that depends. Totally depends on your situation and what your personality is and how you’re going to fit into each of these models that we’ve talked about.
How Planning a Party Works for your Product
Ok, so we’ve talked about everything here except one thing. The one thing we haven’t talked about is Party Plan. How does this, relate to this, relate to this? Well, the cool thing about Party Plan is any structure model, any compensation model, they all work in Party Plan. So your company, whoever sells the product, that’s one of the things you’ll have to decide is how do we sell the product. Is it best sold one-on-one? Or is it best sold in a group environment? If the answer is a group environment, then Party Plan is the natural way to go, ok? If you can build a social event around selling, like for instance a lot of our clients will have, they sell wine, and they’ll have a wine tasting. Well, that’s a natural product, group demonstration. You go to a winery and what do they do? They’re going to throw five wines in front of you and let you taste them. So, that is where Party Planning can come in. So the compensation model is not as important as the product, in this case, and how it needs to be sold.
How Trinity Software Can Help
As we wrap up our discussion today, you can get the things that we presented to you and you can see that they can be very complex and they’re a lot to managing this. You can sure try to do it on a spreadsheet, but it’s going to very quickly get out of control, out of hand, you’re going to get frustrated and perhaps make mistakes, which could hurt the very people you’re trying to help. But that’s where we come in. We offer a product called Firestorm which is a software platform written specifically to address these needs in this industry. We’ve been in business for twenty-five years. We’ve serviced over one-thousand companies and we’ve seen all aspects of this before and we can help you. If you’ll contact us, we’d love to talk to you and tell you more.