If you are in a Network Marketing business, are you still focusing on your warm market ? Chasing your family and friends and discovering that they do not actually want to join you? That they do not share you dreams and desires? This has been the normal way to begin a Network Marketing business for many years. However in the 21st Century, cold market is becoming more and more important.
Cold market prospects are not tied to you in any way, they have never met you before. When they come online they are looking for certain things and can now ‘shop around’ to find a leader who they believe can help them. This means that they may not join you, even if they like your opportunity; they may prefer someone else. People are interested in YOU and what you can do for them, so it is not necessary to sell your Network Marketing opportunity to them.
They are generally looking for several things:
a) A Leader
b) Training
c) A Marketing System
d) A Good Team
And this is where you can help them. If you are positioned online as a leader, you can offer them the training and the system they require and show them that you are building a strong and successful team. 97% of Network Marketers fail, so if you can address the main reasons that they fail, you will be helping to improve this percentage. These are the two main reasons for failure:
1) Lack of leads to talk to
2) Lack of cashflow for marketing
Lack of Leads
Family and friends are no longer enough, the new Network Marketer has to learn marketing. Internet Marketing is cheaper, much faster and you can reach a global market. People who have started a Network Marketing business in every corner of the world are reaching out to find the answers to their problems on the internet. Even if they still want to do some marketing offline, it is possible to reach some local people online and arrange to meet them.
Lack of Cash
You cannot make alot of money upfront in MLM. 80% of the payout in Network Marketing is residual income, which does not kick in at the beginning. This is when so many people give up on their business, because they cannot make enough money at the beginning of their MLM career and they cannot afford to continue. They need to make some money upfront in order to pay for more marketing.
90% of your leads will not join your business. This means you need to make money from this 90%, otherwise they are being wasted. This is where a Funded Proposal comes in. You offer your leads affiliate products, products you do not own, in order to receive a commission on the sale. These are not just any old products, these are legitimate products to help the lead with their internet business. You may suggest that they use a certain autoresponder, which is something they must have in order to start internet marketing, and when they decide to purchase this autoresponder, you get paid a percentage of the sale. This is perfectly acceptable online as the majority of internet marketers will only recommend something which they are using successfully themselves.
So to start using your cold market online, instead of chasing your family and friends, you will need to do three things:
1) Use Attraction Marketing
2) Learn Internet Marketing
3) Apply a Funded Proposal
You can do this your own way, or use a system which is all of these things incorporated in an easily duplicatable system, using your own MLM business as your Primary Business. This way, everything is ready for you and you can make a leap forward in your education, instead of ploughing through mounds and mounds of different information to try to find out what you should be doing.
