A look at the first horseman of the MLM apocalypse to wreak havoc on your network marketing business. The first horseman is often referred to as Pestilence, which in the case of network marketing is a lack of quality leads. This lack of quality leads causes a fatal epidemic, or disease in your business.
When the majority of people join a network marketing company the first thing they're told to do is make a list of everyone they have ever known.
This list is your "warm" market and hypothetically easier to persuade to join your company. The problem with this is,
the majority of your "warm" market has never shown any interest in network marketing, or being their own boss.
There are only TWO types of people that you should be prospecting, those already in network marketing and those actively seeking information about network marketing.
We'll come back to your target market later.
Once your "warm" market INEVITABLY dries up you must get more leads by some other method. Usually that means buying business opportunity or genealogy leads. Unfortunately, leads from these sources are not very timely, aren't actively seeking information about network marketing, or are often just tire kickers looking for a "get rich quick scheme". For example, when you fill out a "Win a Free Target Gift Card" form on the Internet that information is then sold to lead companies who then resell them to individuals seeking leads, often being sold to multiple people.
Without high quality leads you will end up wasting your time trying to weed through the "tire kickers" to find the rare individual who truly want to build their own business. This process of weeding through people not only WASTES YOUR TIME (your most valuable asset), but also WASTES YOUR ENERGY trying to convince people not only on your company and product, but also on the network marketing industry.
Now back to your target market. The process of identifying your target market is actually a pretty easy task. Very simply, just think of your ideal prospect.
This should include the two groups of people we talked about earlier (network marketers and those actively looking for information about network marketing), and should be tailored to whatever product or service you represent.
If for example you represent one of the companies that offers weight loss products you would target people who are looking to lose weight, or if you offered long distance telephone service you would target people wanting long distance telephone coverage. Pretty simple, eh.
Now that your target market is more defined you can start creating your own high quality, laser targeted leads. Market research and identifying your target market is key to understanding how to generate high quality leads. With high quality, laser target leads the whole process is now simplified.
You don't have to deal with as much rejection, and people are generally much more receptive to what your have to say. Also, you don't have to chase friends and family and be the scourge of your family or social network. Notice I said 'as much rejection', you will always have to deal with some rejection, there's no way around it. So just get over it!
It must be obvious to you by now that the key to getting high quality leads is to generate them yourself.
Now you may be thinking, "But Nick, I don't know how to generate my own leads!"
That's not a problem at all. It's really not that complicated. It just takes someone to show you how to do it.
