Nu Skin Review: How to Succeed
My sister loves Nu Skin products. She especially raves about their anti-aging products, ageLOC in particular. She is not the first person who has told me about NuSkin products and how much they like them.
I decided to check NuSkin out. My interest was more from a Network Marketer stand point, since I more interested in developing multi-streams of income than I am in anti-aging cremes. (FYI, Nu Skin is a MLM or Network Marketing company.)
NuSkin Background
Nuskin was founded in 1984 by a brother, a sister, a friend, and $5000. They had some turbulent times but in 1989 they hit their stride and in 1996 they were doing great. That is when they went public and are now listed on the New York Stock Exchange.
Nu Skin Products
They did a fantastic job of tapping into the emotional laden market of aging - or rather the search for the fountain of youth. A market with enormous potential that NuSkin did a fabulous job of mining.
They have since expanded into other markets such as weight management, nutrition and vitamin supplements. They are also Big Planet, which provides an opportunity for distributors to offer ways to store your digital photographs, organize them and even make home movies.
Those other product lines have never done as well as their core anti-aging products. In a smart move, NuSkin is once again focusing on its anti-aging product line and has come out with Galvanic Spa and ageLOC.
Nu Skin Market Potential
Time will tell if there is any more upward momentum left for Nu Skin. It is a rare MLM that has upward momentum after they reach one Billion dollars. Amway at $8 billion is one of the exceptions. Will Nu Skin be as well? We can only wait and see.
NuSkin Compensatation Plan
In order to make any money with NuSkin you must be what they call an "active distributor" which means that you must personally buy product monthly as well as pay an annual distributor renewal fee.
In the marketing I read on the NuSkin site at the time of this writing, only 34 percent of all NuSkin distributors are considered "active distributors" and therefore qualify to earn money.
The money you earn is 30 percent of retail cost on all sales by you and people in your down-line (that is, all the people you sign up and they sign up). In addition there is a fast start bonus of $50 for the people you sign up. For those who climb up the ranks to Executive, Ruby, Blue Diamond, or Team Elite, there are additional bonuses.
Marketing of NuSkin
NuSkin encourages its distributors to use the traditional old school style of marketing: Talking to friends, family, and people you meet in your daily life. They strongly discourage distributors from creating their own website and have strict rules about the use of the Nu Skin name in any advertising.
Conclusion for Nu Skin
Nu Skin is a good company with good products.
For a distributor though there are some limitations. Like many older MLMs, NuSkin has strictures on how its name can be used in advertising.
I see two cautions for a new NuSkin distributor:
1) The NuSkin culture that discourages distributors from generating leads (people to talk to about the business) outside of traditional sources.
Talking to friends, family is great, but for most people that is a limited audience unless they mine that potential vigorously and endlessly. Most are not interested in doing that.
However, with internet marketing the vast world of people who seek YOU out to find out about YOUR business is endless. Especially is you do it correctly.
I used to be part of a Network Marketing company that also discouraged the use of the internet - except, of course, the use of their replicated web sites and video presentations. I left that company and culture.
2) How much can you grow your business with Nu Skin right now. If you only looking for some extra spending money I am sure you can achieve this with NuSkin. However, the potential for a break away income with Nu Skin might not be possible given its market saturation.
How to succeed with Nu Skin
To be successful in Network Marketing, like any business, one needs to develop a good business plan and to consistently and persistently implement it.
For a Nu Skin business, especially given its apparent market saturation, it is vital to buck the company's culture and pursue Internet Marketing and Lead Generation. There may be untapped markets on-line that have not yet been touched by the company's more traditional marketing strategies.
In addition, it is significantly more efficient and effective to market your business on the Internet. That way you are marketing your business even while you are sleeping.
I decided to check NuSkin out. My interest was more from a Network Marketer stand point, since I more interested in developing multi-streams of income than I am in anti-aging cremes. (FYI, Nu Skin is a MLM or Network Marketing company.)
NuSkin Background
Nuskin was founded in 1984 by a brother, a sister, a friend, and $5000. They had some turbulent times but in 1989 they hit their stride and in 1996 they were doing great. That is when they went public and are now listed on the New York Stock Exchange.
Nu Skin Products
They did a fantastic job of tapping into the emotional laden market of aging - or rather the search for the fountain of youth. A market with enormous potential that NuSkin did a fabulous job of mining.
They have since expanded into other markets such as weight management, nutrition and vitamin supplements. They are also Big Planet, which provides an opportunity for distributors to offer ways to store your digital photographs, organize them and even make home movies.
Those other product lines have never done as well as their core anti-aging products. In a smart move, NuSkin is once again focusing on its anti-aging product line and has come out with Galvanic Spa and ageLOC.
Nu Skin Market Potential
Time will tell if there is any more upward momentum left for Nu Skin. It is a rare MLM that has upward momentum after they reach one Billion dollars. Amway at $8 billion is one of the exceptions. Will Nu Skin be as well? We can only wait and see.
NuSkin Compensatation Plan
In order to make any money with NuSkin you must be what they call an "active distributor" which means that you must personally buy product monthly as well as pay an annual distributor renewal fee.
In the marketing I read on the NuSkin site at the time of this writing, only 34 percent of all NuSkin distributors are considered "active distributors" and therefore qualify to earn money.
The money you earn is 30 percent of retail cost on all sales by you and people in your down-line (that is, all the people you sign up and they sign up). In addition there is a fast start bonus of $50 for the people you sign up. For those who climb up the ranks to Executive, Ruby, Blue Diamond, or Team Elite, there are additional bonuses.
Marketing of NuSkin
NuSkin encourages its distributors to use the traditional old school style of marketing: Talking to friends, family, and people you meet in your daily life. They strongly discourage distributors from creating their own website and have strict rules about the use of the Nu Skin name in any advertising.
Conclusion for Nu Skin
Nu Skin is a good company with good products.
For a distributor though there are some limitations. Like many older MLMs, NuSkin has strictures on how its name can be used in advertising.
I see two cautions for a new NuSkin distributor:
1) The NuSkin culture that discourages distributors from generating leads (people to talk to about the business) outside of traditional sources.
Talking to friends, family is great, but for most people that is a limited audience unless they mine that potential vigorously and endlessly. Most are not interested in doing that.
However, with internet marketing the vast world of people who seek YOU out to find out about YOUR business is endless. Especially is you do it correctly.
I used to be part of a Network Marketing company that also discouraged the use of the internet - except, of course, the use of their replicated web sites and video presentations. I left that company and culture.
2) How much can you grow your business with Nu Skin right now. If you only looking for some extra spending money I am sure you can achieve this with NuSkin. However, the potential for a break away income with Nu Skin might not be possible given its market saturation.
How to succeed with Nu Skin
To be successful in Network Marketing, like any business, one needs to develop a good business plan and to consistently and persistently implement it.
For a Nu Skin business, especially given its apparent market saturation, it is vital to buck the company's culture and pursue Internet Marketing and Lead Generation. There may be untapped markets on-line that have not yet been touched by the company's more traditional marketing strategies.
In addition, it is significantly more efficient and effective to market your business on the Internet. That way you are marketing your business even while you are sleeping.
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