How To Handle Your Network Marketing Business
- Posted by admin on January 31st, 2009 filed in Business and Management
One of the major pitfalls in a network marketing business is for network marketers is finding their target market.
A MLM business is a long term proposition but unless you’ve done some due diligence and worked out exactly who it is you need to attract to your business then you’ll be firing arrows at a blank wall. In other words, no target. So the answer to this dilemma - DO YOUR HOMEWORK
Hit and miss prospecting is rife in multi level marketing and is one of the reasons the industry has such a huge attrition rate. For example, many network marketers are taught that everyone is their prospect. Those of us who have been around for awhile KNOW this is just not true. Network marketing is kind of a redundant term since marketing is networking. Duh
This is so damaging it bears repeating. Everyone is not your prospect. When you target people who have not expressed any interest in what you have to offer what do you think the chances are that they will be receptive to your offer? It won’t be very good.
What happens most of the time is you’ll get a rejection followed by another and another until you get to the stage where you can’t handle anymore rejections and ultimately, the next step is, you’ll quit. Hit and miss prospecting and rejection are the biggest killers in any network marketing business.
Most people don’t handle being told “no, I’m not interested “. The more rejections they get the more timid and tentative they become. Hence the business doesn’t grow and they head for the hills. DEFEATED
So you need to identify your target market and then place your offer in front of them. Here are some questions you need to be asking yourself:
- What is my target market?
- Who am I trying to reach with my product or service?
- What problems do they have and how can I solve them?
- What are they looking for and what are their desires and needs?
These are basic questions and one of the best ways you can discover what people want and what problems they have is to simply be the prospect yourself. After all, you have a network marketing business and were attracted to it because you wanted to find solutions to problems.
By joining different social networks you can see what interests others. Do informal surveys of the topics people gravitate to and put your information out there too. Learn how to reciprocate.
Ask yourself, what attracted you to your current business? Was it the product solely or the people involved or both? The answers to those questions will tell you what others are doing to find solutions to their problems.
What we are trying to achieve here is a loyal following that we give quality services, information and products to. By building relationships with people that have a mutual interest to do business with us, we insure growth.
Once you identify what problems could be facing prospective prospects then you can base your marketing and promotions around them and begin attracting them into your sales funnel. Check out other articles to get more tips for you network marketing business.
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