Network marketing is hard. Do not even attempt a home based network marketing venture unless you either have or plan on putting into place a highly potent and highly duplicatable network marketing system geared for 2005 and beyond.
Before I tell you what a billion dollar network marketing system should look like let’s talk about what doesn’t work. As I’m sure you probably know, network marketing is notorious for having a 95% failure rate. Let’s talk about why.
Have you ever heard of Occam’s razor? Basically it states that the simplest explanation for a phenomenon is usually the best. We’ll use this theory to explain why 95% of network marketers fail. Ready? Most network marketers fail because the marketing methods that they are taught don’t work 95% of the time. Pretty simple right?
So we’re led to ask the logical next question, what are most fledgling network marketers taught?
Well, I can only speak from my experience, but what I was taught was to buy and cold call leads. Now, I’m not going to say this doesn’t work, but I will say is that after six months of cold calling leads for 3 hours a day with very little success this tactic doesn’t work most of the time. Don’t get me wrong some people are very good at cold calling leads, but most people aren’t. So what happens to most people after they’ve spend thousands of dollars on leads with very little success after six months? They give up.
Additionally, another factor contributing to why most network marketers fail is the leads they use. Why does the type of leads make a difference?
Business opportunity leads are generic. The leads answer an ad that just asks them if they want to be financially free, or make money from home. Well, of course they do, but that doesn’t mean they want anything to do with YOUR network marketing program. When the average network marketer calls these generic bizz opp leads the leads don’t know anything about the network marketer’s business and for the most part really don’t care. This leads to the fledgling network marketer hearing a lot of NO’s.
Hearing NO all the time leads to quite a bit of self doubt, both about the network marketers own ability and the validity of their association with their network marketing company. Negative feelings begin to harbor and as I said before eventually the network marketer gives up, usually with 3-6 months.
That’s basically why 95% of network marketers fail if you asked me.
So how do we change this paradigm?
We build a Perfect Network Marketing System! Now we get to the good stuff! What does a perfect network marketing system look like?
For the average home based network marketer to be successful certain thing MUST be in place. I will list them here:
• Lead capture page designed specifically for specific Network Marketing Company:
This page must contain strong sales copy that tells the prospect why he wants to opt in for more information. The best way to do this is to offer a High Value Free Report in exchange for there contact information.
• Free Report specifically designed for Network Marketing Companies Opportunity:
The free report must be highly informative. It must explain all of the features and benefits of joining the network marketing organization as an independent distributor and must focus on the support and resources available to the new recruit should they choose to purchase a distributorship. The company’s products and compensation plan must be clearly explained here as well. If possible, testimonials should be used, as they are extremely powerful sales conversion tools in this portion of the sale process as well.
• Follow up Email System:
Attached to the Free Report there must also be a follow up system that continually markets through email the program to the lead. Most leads don’t act immediately and must be marketed to at least 7 times before they take action. The email follow up system must have strongly worded sales copy and must have a system for getting through spam filters.
• A Continual Feed Back System that uses the Fear of Loss:
Along the with email follow up system there must be a feedback system that will alert the prospect by email when new prospects opt into the system and invoke the fear of loss during this process by telling the prospect that if the next prospect in line upgrades to a paid position before he does then he will forever loose commission on that prospect. This is an extremely powerful psychological tool.
• Strong Support:
It’s one thing to get someone to buy a distributorship, but it’s a totally different thing get them to work the business effectively. There must be an email follow up system once a new distributor signs on to ensure that he receive adequate training on who to market successfully. There must also be human support at this point. So, there must be strong relationships built between upline and new distributors.
• A Good Product or Service:
In order for this entire marketing process to work, the system must be back by a strong and ethical network marketing organization that sells a high demand product that people need and would purchase even if there were no compensation plans attached to it.
You must be an active part of your business. You must be willing and open to learn new ideas and tactics at all times. You must have a passion for your business and truly believe in the product that you plan to build your organization around.
I’ve listed the basic component’s a of a perfect network marketing system. This system will involve NO cold calling because the prospect will opt in to request more information specifically about your business before you even talk to them.
Cold calling generic bizz opp leads and hearing a lot of NO’s is what causes most network marketers to fail. We want to avoid this at all cost. This is what this system is designed to do!
By having your prospects opt in specifically for more information about your product and business plan and then by giving them a detailed report explaining all of the above before you even speak to them your chances of a successful sales conversion will greatly be increased. The email follow-up and fear of loss systems will increase your chances successful sales conversion even further. These factors will cut down on the number of NO’s that the you must endure before success. This will increase your home business’s duplicability vastly.
Further, having uniform training and exceptional support are the basics and must be present.
Before you spend another dollar on your network marketing efforts ask yourself if you’re using a perfect network marketing system. If your answer is no and you aren’t having any success then ask yourself what you can do to change your system to one that will work for you and your future distributors using the principles that I have detailed above.
Network marketing can certainly make you rich, that is… if you have the perfect system in place!