Thinking of joining Primerica? But not sure if it’s for you? If so, are you ready to do whatever it takes to be successful in your business? But wait, what kind of business model is it? And what exactly do you need to be successful in this particular business model? Well, let’s examine and take a look at this business opportunity.
So what kind of business model is it?
When you take a closer look, you see that Primerica is a multi-level marketing home-based business model that offers a line of consumer financial products through direct sales. In the last 10 years, this company has had explosive growth and more in recent years, as have the most popular network marketing companies, probably due to the economy and unemployment rates.
So what kind of products do they market?
First of all, this home-based business opportunity has a wide variety of products, from insurance to mutual fund investments, with its flagship product being term life insurance. It also offers debt consolidation loans, investment and savings products, as well as auto and long-term care insurance.
What is your target market and audience?
The company markets its products to middle-income customers through a network of some 95,000 independent sales representatives who run their own businesses from home. The market is wide open for anyone who needs term life insurance. He also brokers debt consolidation loans, so anyone with consumer debt would be ideal. And, of course, anyone ready to start an IRA or Money Market account. These are just a few.
What kind of marketing strategy do they adhere to?
This home business model uses a word of mouth marketing approach to attract new business and recruits. But is this marketing approach enough? It’s true that word of mouth is the most effective form of marketing, but it usually takes longer than other advertising methods. So just like in any business, marketing is a key factor in being successful and the same is true for a network marketing business. Therefore, it will take a mix of marketing strategies to promote Primerica online and offline to maximize your marketing efforts and increase your sales.
So what does it take to become a representative?
Becoming a Primerica Online representative costs $99, and with that entry fee you get a series of life insurance licensing trainings, information on how to market your Primerica Online business, and a means to track your downline. . You then connect to company resources for just $25/month and this covers the standard business website (which has your back office), sales tools, and a support system. The website is also for promotional purposes, as with all MLMs. From your Primerica Online replicated website, you offer these above mentioned products, but it is your responsibility to promote them and get the links to move them up in Google rankings.
How do I make money with Primerica?
As with any legitimate home direct selling business, reps make money by selling products to end users. Another great way for reps to earn money in this home business opportunity is through commission overrides from sales made by the team. With all MLM’s, it’s ideal to team up to have a successful business that allows you, the owner, the flexibility of time freedom by leveraging other people’s time and making commissions on sales overrides within your organization. Unfortunately, there is no residual income component starting in this home based business. One needs to obtain other licenses in the investment product line before the residual component begins, which can take months, even years, before one begins to acquire those clients.
So what will I need to be successful?
Well, everything is fine and the program seems viable. But what will you need to succeed? Well, the bottom line is not how good the Primerica company or program is… but rather, what will you do with the opportunity?
Do you have a plan to get your new home business in front of a steady stream of new people every day? How do you plan to promote your website? How do you plan to maximize your marketing efforts and increase your sales? Will you be using online and offline marketing strategies for your home based business? Are you willing to invest time, money and effort to be successful in the home business industry?
Because the name of the game is recruiting and making sales, so what is your plan to make that happen?
In MLM, the secret to success comes down to your understanding and willingness to create a sales and marketing machine. You must first figure out how to generate leads through advertising or attraction marketing methods, and then convert those leads into product customers and signups. Then you must guide your new team to take the same proven actions.
So how about… will you allow yourself to succeed and be the next Primerica icon? Only you and time will tell…
