Once again, my November 2006 Prediction is proving to be correct as more and more companies adopt network marketing strategies. Last month, I wrote about AGLOCO’s marketing model; and while I now have about 29 people in my network, we are all still patiently awaiting the release of the software that will actually make us money.
What is Network Marketing?
Network marketing is an advertising model that allows consumers to earn money by marketing a company’s products. Traditional network marketing models like Avon are entirely marketed by consumers and allow average people to make a lot of money with some good old fashioned hard work.
In the old days, there were a lot of headaches associated with traditional network marketing models including handling inventory, large initial investments, and making your friends and family uncomfortable. While the principle of transferring power from the corporation to the consumer was always noble, flawed models created a negative stigma associated with network marketing.
In the last few years, the stigma has started to lift as a new generation of network marketing models has emerged without the pitfalls of their ancestors. Even major corporations like AT&T have caught the wave, realizing the power of word of mouth. On the internet, affiliate programs (a simpler version of network marketing) are popping up everywhere.
The Latest Model
I’m excited to share with you the latest company to adopt a network marketing strategy (and this one actually has a product on the market!): XM Radio. I’ve been an XM Radio subscriber for about a year and when I heard that they were launching a network-style affiliate program, it made my day. The best affiliate programs are ones that you are passionate about, and I absolutely love my XM radio.
Why I Love XM
I just returned from a road-trip from Los Angeles to Austin, TX where we drove straight through, 24 hours each way. I have to say that XM Radio made the drive infinitely more enjoyable.
As an information junkie, I start to sweat when I don’t have access to what’s going on in the world. Because I had XM, I was able to take my favorite news, music, and talk radio with me; even in remote stretches of the desert. My radio even has a stock ticker to keep me up to the minute on my portfolio.
Making Money With XM
Now that XM has created a way for me to make money, I love it even more! Here’s how it works: You simply click on the link at the end of this article to go to my personal XM Radio iRep page. Once you are there, click “Become an iRep” and fill out the form to set up an account. Once you have set up an account, you will have your own personal iRep page and you will be in my network.
Once you’re in my network you will earn a 20% commission whenever someone buys something from XM Radio on your iRep page! There are banners and logos that you can put on your blog if you want, or you can just tell friends and family to visit your site.
The Really Exciting Part!
While 20% is a great commission, XM Radio has made their offer even sweeter to those who know network marketing.
A true network marketing model takes advantage of a wealth building tool called leveraging. Leveraging is the key to building wealth. (Read more about leveraging in my article on Passive Income.)
The XM Radio model allows you to leverage your time by finding other people who are interested in becoming iReps and giving you a percentage of their work. Specifically, XM Radio will pay you a 7% commission on any sale that is made on the site of any iRep that you referred.
Leverage is a beautiful thing, and it allows you to multiply your efforts across as many people as you can find to be iReps. It also gives you a support network. Since I will benefit whenever you make a sale, I’m willing to help you however I can.
It Gets Better
Not only will they pay you 7% on the work of those you refer, they will pay you 3% on the work of your referrals’ referrals. This means that you could be getting paid on the work of people that you never even had contact with.
XM Radio‘s compensation model stops at 2 generations while AGLOCO’s goes up to 5. I know some network marketing models that pay up to 7 generations. Obviously, the more generations, the bigger the opportunity to make money.
Not A Full-Time Job
If I were you, I wouldn’t quit my job to be an XM Radio iRep, but I would add it to my list of income streams. It doesn’t cost anything to join (even if you aren’t an XM subscriber.) Because they are paying on multiple levels, it is a more powerful affiliate program than most.
If you’re passionate about XM Radio like I am, and share it with people anyway, why wouldn’t you get a free account and take advantage of your enthusiasm?
A blog or a website is a great way to publicize it. If you don’t have one, you might put a link as a signature in your email messages. If you can’t think of a good way to describe it, just link your prospective XM Radio iReps to this page by copying this link.
Remember to include your affiliate link on your site or email. If someone referred you to this page, remember to return to their site or email and use their link to get started. If you are hearing this from me, click here to get started. Welcome to my iRep network!
(4 October 2007) This service is no longer available.