Toby called from Perth, Australia the other day to ask me, how do I attract network marketing leads for my business?
Toby has been in his business for three years, during which he has built a downline with 23 people. Over the past 6 months his business has come to a staggering holt. Like most network marketers he had gone through his ‘name list’ in addition to work hundreds of purchased leads. His trouble was that the leads were becoming too expensive and he could no longer keep them up. So he decided to obtain his own leads by sending out flyers.
Toby was not just waiting for people to approach him about his business opportunity, he would average 1500 flyers a month. He was not just targeting anyone, he only sent his flyers to the middle class suburbs. At the time, Toby thought this was a brilliant idea. His rationale was that many middle class people are stuck paying off a large debt and struggling to make ends meet.
Toby wanted to know why, what seemed like a good strategy was not working. Why was he only getting one or two inquires from each mailing to 1000 prospects? He asked me if he was targeting the right people. He explained to me that at least 90% of people would be paying off a house loan and therefore could do with extra money, so he believed his business opportunity would be a perfect way of getting their hands on that extra cash.
I understood Toby very well, for when I first started my network marketing business I did a very similar thing. I went on to tell Toby that I admired his motivation and perseverance but what I wanted to tell him was something that he may not want to hear. He was obliging and understood that in order to do well in this business he would need to accept what I had to say and implement some of my suggestions.
I explained to him that you can categorise people in many different ways. Specifically to network marketing, I categorise people in what I call ‘what they do’ categories. This is not who or what they are, but ‘what they do’. If they are unskilled, skilled, tertiary qualified, business owners, sales people, home business owner/searchers and Network marketers.
Unskilled people are those who do not have any qualifications outside of school. By no means is this a bad thing, some of the most successful network marketers today came from an unskilled background, but we have found they are few and far between.
Skilled people are those who have done a trade of some sort. Example of which include, hairdressers, beauticians, builders, plumbers, personal trainers, and many more. Skilled people are a great market to target, as most of these people are small business owners and their business relies on referral marketing. With these people you can use them if they want to join your business or even if they don’t. What do I mean if they don’t? Well as we mentioned before they make a living out of referral marketing already, so you can develop a referral system with them where you refer business to them and vice versa. It’s a win-win situation.
University students and Tertiary Qualified people
In our team we have had great success targeting university students of all disciplines. The reason we target this sector of people is because most university students are looking for extra money to help pay the bills which works around their study. Also we have come across marketing students who want to gain experience in sales and marketing. Directing your marketing towards university students can be cheap and affective, for example: advertising via posters on a notice board or, even better, advertise on the University Website.
Business owners can be interesting network marketing leads. These people tend to be self motivated and confident people. Some of the advantages of recruiting a business owner into your team include:
· They already understand that a successful business takes hard work, persistence and time to build.
· They have the mindset of an employer rather than employee.
· They have a large circle of influence.
· They have sales experience.
The disadvantage with business owners is they may be too involved in their own business venture and will not have time to start another one. The best way to approach business owners is by asking for their opinion about the business and let them come to you. Business owners are usually decisive people and they will jump at an opportunity to make more money.
Sales people are a great market to target too. Generally they love to sell, but more importantly they like helping people and most of all they like money. Sales people can bring some great attributes to your business from what they have learnt within their industry. Take these people on board and bleed them dry of their sales experience and see what you can adapt into your network marketing business.
Home based business searchers
These people are actually looking for a home based business. You must understand, people who are looking for a home business are essentially wanting to improve their financial situation. One of the major positives about this sector is that they are willing to listen to what you have to offer and some are willing to give it a go.
Network Marketers In Between Companies
Out of all the target markets we have talked about so far, these are by far the hottest network marketing leads you will ever come across. I want to make it very clear, right from the start that we are not looking to poach or bribe network marketers to leave their company to join your own. The market we are looking for is those people that have become frustrated in their current network marketing company and are looking for another company or team to join–those who are in between companies. The advantages of this market include:
· They will not have any objections because they understand and believe in the industry.
· They understand network marketing is a business that takes time and money to grow.
· They have a strong desire and dream to become successful.
Statistics say that 90% of network marketers are struggling in their business, meaning out of the millions of network marketers in the world today, there are a lot of people dissatisfied with their current company or team. Eventually these people will get tired of failing and want to join a company or team that really knows what their doing.
Let me tell you now, failing has nothing to do with the company or the product. It is to do with the how — if you are not shown the how, than you will most likely fail.
You’ll get a much better response by targeting your prospects more precisely.
After reviewing these categories with Toby, he immediately knew that he had to focus his marketing on people with specific problems in a specific category. Toby knew that he had much to learn about marketing and is now forever seeking new and creative was to market his business.