As I mentioned earlier, in order to thrive, we need to change and do things differently. We need to use technology and the Internet to add to our arsenal. I realized that many people are fearful of new technologies and the Internet. The truth is that to have a cutting edge, you need to change and learn to adapt to these.
You need to use technologies for communication, presentation and training. This was covered in the previous chapter. As far as the Internet is concerned, you need to have a web presence and make use of social media sites such as Facebook, LinkedIn, Instagram, Youtube, to name a few.
In the previous chapter, I talked about ‘STATUS”. If you want prospects to join you, you have to increase their status. Network marketing has been associated with low status and this is the reason why many distributors have problem in recruiting.
The business model and the products associated must increase the status for the prospects in order for them to join you. Most products out there are old products whereas some are improvement products. People like new things and new products. An improvement product has negative perception. It means that the old product failed! And no one likes to be associated with failure. Let’s take vitamin C as an example. If you come out with a time-release vitamin C, is this a new product or an improvement product? It is an improvement product and not a new product. A new product must be a ‘blue ocean’ product that no one else has!
This is also true with the strategies that you use in building the business. The old ways of prospecting is considered OLD even if you change the scripts and the approach to prospecting. You need to use a NEW way of prospecting by using the Internet and social media.
There are many objections to Network marketing that lower the status for prospects. The way to succeed is to overcome these objections before the prospects tell you about them.
Let’s cover a few of the objections that are in the mind of prospects.
1. Low Status
As a result of the negative perceptions toward Network marketing, the industry is regarded as ‘low status’. This is the reason why many people are fearful of joining a network marketing program. So how do we overcome this problem? There are 2 main ways to overcome this perception.
(a) Relate Network marketing to a franchise.
When you mention the term franchise, people will relate it to franchise businesses like McDonalds, Kentucky Fried Chickens, and other related franchise businesses. When you relate to a franchise, the status is immediately up! You will discover later, how we use franchise to promote our Network marketing program. So instead of selling products, we are selling a franchise business. In fact we do not focus on products, compensation plans and even company backgrounds. We talk about what they will benefit from the franchise.
(b) Something NEW.
As mentioned earlier, people do not like improvement offers. This is the same old thing wrap in a new way or package. For example vitamins in gel format is an improvement product. It is just a different delivery method and not something new. The product must be something new and a ‘blue ocean’ product, which is totally new and unique. Most of the vitamins and minerals are under the category, ‘Nutraceuticals’. These are all similar and the competition is in the ‘red ocean’. As a result who has the lowest price wins! Later on I’ll reveal to you something new!
The way of doing Network marketing also has to change and be something new and not an improvement. You can improve on the ways to generate prospects and on how to prospects. To be successful, it’s got to be a new way of prospecting such as using the Internet and Social media.
I do not know about you but I believe many people do not like selling. When they think of Network marketing they relate to hard-selling. They need to sell to their family members, friends and those they know. This is one of the reason many do not like Network marketing.
The truth is that everybody sells. If you saw a good movie, you naturally recommend it to friends. You are indirectly selling although you are not paid to do the selling. So it is not selling that is the problem, but the perception of selling. We experience many times how sales people approach us through direct selling. No one likes to be sold to!
When you invest in a franchise like McDonald, you are also buying. However, the perception is different. This is because you are investing in a business and not purchasing products. So if you relate your Network marketing business to a franchise, will it have a better perception? I’m pretty sure it sounds more professional and the status is up!
Another thing about selling is that, you need to fill the need of the customers and not your own need for profit. When the prospects know that you care, they will trust you more.
The final point I like to highlight here is that Network marketing is a business, like any other business. When you focus on sales, you’ll grow a team of sales people. However, when you focus on business and leadership, you’ll eventually build an empire.
So I hope you are beginning to see that Network marketing is not a sales business, but a networking and leadership business. When your leadership grows, so will your business.
Prospecting is the life-blood of any Network marketing business. You need to have quality and targeted prospects. Prospecting is a skill that will improve with practice. However, the traditional ways of prospecting is no longer effective.
The usual practice for a new person is to make a prospect list of say 200 names. This is a good way, but there a few problems here:
1. These people are from all types of background, age and demographics. Do you realize that many of them do not know anything about starting a business! No wonder, many will fail. To succeed you need people who have leadership and entrepreneur mind-set.
2. Many of these prospects know you well and are close to you. They know that you have struggled and failed previously. So how do they trust you? Many will tell you to go do it yourself first and when you succeed, get back to them. Do you realize that the most difficult person to prospect are those close to you like your family members.
I have a leader, by the name of Jeannie, who spoke to her father about the health product she is marketing. The father was happy at first and enquired as to where to get the product. When she told her dad, that the product was marketed through Network marketing, he immediately changed his mind and refused to buy from her. Just imagine, even her own father refused to support her! It is not because they are mean. It just simply indicates that they do not understand the Network marketing business and think that it is low in status.
It does not mean that you do not approach those close to you, but be aware for lots of rejection and ridicule!
3. So what happens when a new distributor exhaust the prospect list. No more prospects! The only option is to look for cold prospects, or simply quit the business. No wonder many fail in the first 90 days of starting the business.
So how do we overcome this problem with prospects? I call it looking for your dream prospects.
The first thing you need to do is define your dream prospects. I recommend you to have 2 dream prospects, one male and one female.
Get 2 portrait pictures from Google images. Then for each one list down the qualities of the prospect you are looking for….
(d) Achievement and leadership
(e) Current income
(g) Other qualities
Make it into 2 power point slides and print them. Put both pictures in front of you where you’ll see them often. So now you know the type of prospects you are looking for, it’s time to mine for them.
We are going to look for them in 2 main places where there are more than 2.5 billion of them as of this writing. So can I ask you if you will run out of prospects? I am sure the answer is a resounding ‘NO’. Where do we find these prospects? There are many places but let’s focus on Facebook and LindedIn.
There are more than 2 billion members in Facebook. These members comprise of all demographics of people. LinkedIn on the other hand is called the Facebook for Professionals. LinkedIn have more than 500 million professionals. There are a few steps that you need to take to implement these prospecting strategies.
1. You need to search for your dream prospects.
2. You need to connect with these prospects.
3. You need to communicate with these prospects.
4. You need to build relationship with these prospects. Remember that people buy from people they know, like and trust!
5. You need to be able to close some of these prospects.
In this ebook, I am not going to go through the whole process of implementing the strategies. Wait for my email! In one of my emails, I will provide you a link to download one of my ebook on these strategies for FREE. You will learn in more details the various steps involved.
So check and read all the emails from me. You so not want to miss getting the FREE ebook
Okay in the following chapter, we are going to discover how to approach our Network marketing business – Hi-Tech or Hi-Touch…?