How many times have you been told it was possible to earn a full-time income in network marketing by sponsoring friends, family, neighbors, coworkers… your “warm market”, only to find out that it wasn’t true?
If you’re like 90% of network marketers, you’re struggling to earn even the equivalent of minimum wage from your home business, and quitting your day job is still little more than a dream.
What’s missing from your network marketing business is a real business plan. Going after your “warm market” is a great business plan for your network marketing company because they have access to LOTS of “warm markets”. It’s a numbers game that works in their favor. Every one of their distributors is going to tell everyone they know about the product and the business opportunity… that’s a lot of free advertising, and some members of those “warm markets” will buy the products or become distributors themselves, and then tell everyone they know.
It works great for the network marketing companies. Any ROI on an advertising budget of nearly $0 is a great return. It doesn’t work so well for you though because you only have ONE “warm market”. ONE group of friends, family, neighbors, coworkers, etc. and very few of them are entrepreneurial enough to recognize a good opportunity when it’s presented to them… let alone risk their time, effort, and money pursuing that opportunity even if they do see it. The numbers don’t work in your favor. You simply can’t do enough volume within your “warm market”, so the “warm market” approach is a terrible business plan as far as your own business is concerned. If you’re persistent enough you probably will sign a few people up… but not enough for it to be worth your while.
A real business plan will correctly identify members of a “target market” and describe a system for communicating an offer to satisfy a want or need that exists within that group. Does handing out DVDs to everyone you know, and dragging them off to meetings for no reason other than you happen to know them sound like a real business plan?
It’s important to know that there’s a difference between a “target market” and a “warm market”. The network marketing companies call the people you have a personal relationship with a “warm market” because the people you know are “warm” to you… however, they usually aren’t very “warm” to the idea of starting a network marketing business. A “target market” on the other hand is an identifiable group of people who are likely to be interested in what you’re offering.
So, who is your target market?
It’s simple. Your target market is the 90% of network marketers who are not successful.
What do they need?
First, understand what they DON’T need. They DON’T need a new network marketing business opportunity… they already have one. Pitching your opportunity to them would be like trying to sell a car to someone who just bought a new one. They’re not in the market. They’ll probably be needing to fill the gas tank though.
What’s the fuel that runs a network marketing business? Generating leads… and sponsoring them.
To satisfy that need, you need to learn how to generate leads yourself and then build or acquire a system to communicate with them, and ultimately sponsor them… automatically. You’re halfway there now that you know who your target market is. Network marketers are easy to find on the Internet, in fact many of them have probably already found you… been spammed lately? Got a reply button?
The next step is to learn something about copy-writing, landing and capture pages, and sequential auto-responders. Learn the mechanics of putting together an automated lead generation and follow-up system, and then put one together. All the information you need in order to accomplish this is readily available, just search for it in Google.
If you don’t have the inclination to put such a system together on your own, then there are plenty of ready-made systems available to plug into and again Google can help you find them. Once you have your system in place don’t use it to send out marketing letters about your business opportunity. Use it to sell yourself, and the system you’ve created (or obtained), and to provide valuable information that will help others to succeed. Remember, your target market is looking for fuel… they’ve already got a vehicle. They’ll get into your vehicle with you once you’ve demonstrated your value to them.
Nobody gets into network marketing to sell vitamins, cosmetics, or anything else. They get into network marketing because they see it as a vehicle to achieve financial freedom. If they perceive your system as the fuel they need in order to take their network marketing career to the next level then they’ll be open to joining your team in order to use your system.
When you can step outside your “warm market” to generate qualified leads within your “target market”, and follow-up with them automatically… then you’ve basically got yourself a network marketing gas station. You’ve got something that 90% of network marketers want and need, and are actively seeking. Sponsoring many of those who go through your system and see value in it will be the natural result.
Similar topics: Mlm, Mlm Leads, Mlm Training, Network Marketing, Home Business, Work At Home, Work From Home, Multi-level marketing, Google, Marketing, Warm market, MLM business, Business, MLM, Herbalife,
English: A simple binary tree diagram illustrating the hierarchical structure of a multi-level marketing compensation plan. (Photo credit: Wikipedia)
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