Hello, welcome back!
In Network Marketing, the ability to find prospects to talk to is a crucial factor in the network marketing success journey. Many new network marketers are asked by their sponsor to create a list of at least 100 friends or relatives. The list is regarded as a valuable business asset. It is through connecting with these personal contacts that the new team member is starting to enrol customers and/or business builders.
In the Network Marketing industry, this is call the ‘warm’ market. In an ideal situation, there will be a few customers or business builders from that initial list of 100 or more prospects.
Lead Generated from the Warm Market
Tim Sales’ teachings focuses very strongly on communicating well with our prospects. New distributors are to use their communication skills to find out whether it is best to approach the friends or relatives from the product angle or the business angle. Tim shares that it is most beneficial to have separate ‘customer legs’ (a ‘leg’ = a line of sponsorship in network marketing) and ‘business legs’.
From those friends or relatives who enrolled as customers, Tim would ask for referrals after they have been a satisfied customer for a while.
This is ‘lead generation’ from a trusted source! Friends or relatives of the happy customer iare more likely to listen with an open mind because of the trust that have already been established between them and the person who refers them to us.
For those prospects who do not need or want our products or services, we can always ask for referral. For every friend, there is always another circle of contacts that we can tap into. This is the reason why having great communication skills will help us get more referrals. We will NEVER lose our friends or relatives when we do ‘Greet & Qualify’ the Tim Sales way. If you have missed my last blog post on Network Marketing Prospecting, you can click here.
Lead Generation through Networking
>As many serious network marketers would agree, new team members are the blood of our network marketing business. By constantly going out to network, we can literally create our warm market. Tim Sales’ recommended means of getting prospects are in this order:
First – Business Networking
Second – Buying Leads
Third – Advertising
When I was doing network marketing on a very part time basis, asking for referrals alone worked alright. However, when I decided to work my network marketing business full time, I realized that I was running out of leads!
At that time, I made a mistake in choosing to buy leads from a lead vendor. It was only after wasting my time and money on those leads that I realized that my mentor might have a point. He said that rather than spending money on leads, I should be doing cold calls straight from the phone book. That piece of advice did not sit well with what I felt….and, to cut a long story short, I realized that I was left to do thing without much of a Success Blueprint that so many other leaders were talking about. Finally, I decided to leave the team in search for a simple and easy system that includes lead generation. It was then that I have found MyLeadSystemPRO (MLSP). I am now taking things into my own hands and creating my very own leads.
What Tim suggests makes so much sense to me! If I were to go out and consistently connect with people, I would not even have to go for any ‘lead generation system’ at all.
Having said that, I am happy that I did explore options in order to generate my own leads. The main reason is that business newtorking is an ACTIVE task. That is, if we do not go out to network, we do not meet any new people. No new connection means no businesses or referrals. The online lead generation strategies, on the other hand, can help me to generate leads PASSIVELY. That is, once the initial efforts have been done, my blog content will continue to provide value to others. For those who have an interest in exploring more about what I can offer, they will get in contact with me.
Lead Generation – Buying Leads?
This is an interesting area. I have tried several lead vendors before giving up. I did enrol two new distributors into my organization but, very soon, they left my team. Having no easy-to-duplicate system for them to follow is partly to blame. I have since then joined MLSP for its training and online lead generation strategies. I have also sought out a strong mentor and waited for a full 12-months before returning to my original network marketing company, the company that I bumped into in 2003 when one of my daughters was having health challenges.
Tim has expressed clearly his preference in buying leads over doing advertisements. However, he has quite a strong stand about this topic! Tim says that the quality of the leads purchased is a very important factor. I could not agree more with him about this, I personally experienced some very bad leads. The prospects were upset or even angry as they could not recall asking for information about business opportunities. Dealing with these unqualified prospects have helped me a lot in handling objections or enquiries.
So, is buying leads a good choice? Tim ranked it above placing advertisements although he himself joined the network marketing industry because he answered an advertisement.
I guess buying leads is a great way to have a lot of targeted prospects if the lead source is good. As I have not personally purchased any leads from Tim, I would not comment on it.
I am wondering if you have had any experiences with Tim’s leads. Or, have you ever come across any lead source that is good?
Lead Generation – Advertising
>Tim believes that running advertisement is not as effective as networking or buying leads.
I must admit that I have not had any experience in this area. Theoretically, people who answer advertisement are the ones who have higher interest in exploring our business opportunities. I would not be too surprised that it is an effective way in getting more targeted leads. From the MLSP training, I understand that online advertising can be very effective. Having said that, this strategy requires investment.
Could we do free advertsing? My view is that we can.
By engaging with our potential prospects online, say, in forum discussion, we are in effect ‘advertising’ ourselves. For example, by providing value through writing blogs or articles and mastering SEO skills, our website/blog can rank on the first page of Google. Rob Fore, one of the proud leaders in MLSP, is a fine example of this strategy. You can check out his blog here.
Your Experiences or Insights?
Do you have any favourite means of lead generation?
Have you ever come across any great lead generation vendors?
Do you have other personal experiences or insights that you would like to share here?
Your MLM Success Coach