Network marketing brought the promise of residual income to people who weren’t authors or famous singers. In the hype of quick or big bonus checks, we tend to forget that residual income is one of our finest assets in this business.
There is no residual income from our jobs, and most businesses stop as soon as the owner stops day-to-day managing. Network marketing can give us that chance to enjoy getting paid now for work we did in the past. Don’t forget to mention that to your next prospect.
Try asking this question with difficult prospects:
“How long can you wait?”
When a prospect says that he doesn’t have time to build a business, but wants to earn $10,000 a month, ask him how long he can wait until he starts earning $10,000 a month.
He might say that he needs to work on earning more income now. Or, maybe he says that he can only wait six months or a year, but he knows that he eventually has to earn more money.
This question makes the assumption that the prospect will join, and that his only decision is how soon to join. It certainly makes the prospect think of the consequences of not joining – never having that increased income.
A distributor comes to you and says:
“I can’t find anybody to talk to. Where can I find some good prospects?”
You know this distributor is clueless. Hasn’t got a chance. Doesn’t even know the first set of skills for his network marketing business.
He has already talked to good prospects, but has ruined them by saying the wrong things. And now he wants new people to ruin?
When you try to get him to learn the basic skills, he protests by saying things like:
“You can’t say the wrong thing to the right person.”
Well, I know I have said the wrong things to the right people and they didn’t join. But, the distributor insists on spending money and hours of wasted time and frustration looking for new people to ruin.
I guess someone needs to sit down with the new, clueless distributor and have a heart-to-heart talk about prospecting.
Distributors only have time to complain when they don’t have enough prospects to contact.
Where should you look for prospects? Good prospects? The kind of prospects that join?
Simply look at where you enrolled your last five distributors. Where and how did you meet these prospects?
Success leaves clues.
So instead of finding new and unique places to locate future distributors, go back to where you located the last five distributors.
But failure leaves clues also.
Take a look at why your last five prospects told you they weren’t interested. Was there a common theme? And where did you locate these uninterested prospects?
Many times we are standing too close to our successes and failures. We need to step back and observe to see if there are clues.
“Don’t look a gift horse in the mouth, but do check for Greek soldiers elsewhere in its anatomy.”
Yes, we should be open-minded, but not so open-minded that our brains fall out. A little common sense goes a long way in our business.
1. Don’t get involved.
2. Don’t try.
Some years ago, Pepsi sent cases of Diet Pepsi to hundreds of thousands of Diet Coke drinkers.
And, their promotion didn’t stop there. Pepsi sent magnets, coupons, and special pop-up mailers to persuade these hundreds of thousands of Diet Coke drinkers.
Their strategy? Target cola drinkers of a competing brand.
Pepsi knew these customers were buyers of colas. All Pepsi had to do was to convince these cola drinkers to try their product. Hopefully, some of these cola drinkers would convert into long-term Pepsi customers.
How can you use this strategy? If you sell vitamins, target other vitamin users. If you sell travel, target frequent travelers. If you sell organic, biodegradable cleaning products, target conscientious cleaning product users.
Like Pepsi, your initial marketing costs may be high if you give away free products. However, look at the long-term profit of a good repeat customer. How much money would you earn if a customer bought products from you every month for the next five years?
So think like the Pepsi marketers and round up some long-term profits.