In this blog, we shall discuss Warm market prospecting strategies!
Multilevel marketing is all about networking and creating business from it. When you join a network marketing company, creating a list of people you know will be one of the first tasks that will be assigned to you. Next, lessons will be given on how to introduce your business to them. After all, Successful MLM business requires a Best MLM Software with all features.
What has this got to do with MLM Warm Market Prospecting Strategy?
Well, the aforementioned activity is called Warm Market Prospecting! There are some MLM veterans who swear by Warm Market Prospecting while there are others who believe that network marketing should be kept to tried and tested strategies like online marketing.
However, I would definitely recommend a moderate stance on Warm Market Prospecting. Network marketers should use both the strategies and milk the opportunities created by both.
Why should you not tell your friends and family about your new MLM business? You definitely should!
Having said that, you should not keep pestering your friends to join your business or you would be left with no friends. To prevent this, we would help you with some tried and tested Warm Market Prospecting tips in the following section.
How to develop a MLM Warm Market Prospecting Strategy : Tips and Tricks
#1. Approach your warm market without any expectations.
When you approach your cousins or friends with your business , do not assume that they will refuse or agree. Go to them with an open mind and just tell them about your new business.
If you approach them with a judgemental attitude, your demeanor might force your warm prospect to say a no to your proposal. Or else, you will be in for a major disappointment if you thought they would agree and eventually they don’t.
You can adopt the following strategy to introduce your business to friends and family. Approach your warm prospect and tell with a smile that you just want to introduce your business to them and it would honestly make no difference if they join or not. Then, you go on to describe your MLM business, the products that you sell and the income you are earning.
Stop worrying about the outcome and if they are open minded enough, share using 3rd party tools.
Trust me, you will earn great respect from your warm prospect for adopting this method.
#2. Don’t keep on talking
Pause! Don’t keep on talking once you feel that the warm prospect is showing some interest. Often, we see marketers who keep on talking and talking and some more talking when they feel that the prospect is showing a slight interest in the business.
They drag the ball into basket and then,right out of it!
Always remember the golden rule in warm market prospect strategy: Never chase, pester or annoy your warm market prospect.
Well, let me get this to you straight. The more you talk, you are digging yourself a deeper grave.
There is no way a prospect can process so much information when they are probably hearing about network marketing for the first time. When they feel they cannot understand the concept, you lose a customer there. It is always better to opt for third party tools like CD,DVD or internet videos to convince a warm market prospect to sign up for your network.
They can use these tools to know more about your business at their leisure and get back to you to go through rest of the formalities for joining the network marketing business. Approach your prospective client from customer side first.
#3. Be polite, whatever their response is to your proposal.
Do not ever insult anyone over their response to your business proposition. Their refusal may be temporary. Once they see how well you are performing, they might join the bandwagon. However, if you call them stupid or foolish for missing such a golden opportunity, you can’t take your words back. Don’t even say it to someone else because that can somehow make its way back to the person.
Even if you used to talk that way to that particular person before, don’t do so in regards to your MLM business opportunity.
If you treat them with respect, there are chances that their refusal might turn into a ‘Yes’ within 2 months, 6 months or even 2 years down the lane.
#4. Introspect on why they refuse to join your network.
Introspection is good. Instead of pestering your relatives to join the network without taking no for an answer, you should ask them why they are insisting on not wanting to join the network. Is it because they do not want to start their own independent MLM business and make a passive income? Is it something to do with the products that you are offering? Is it about taking effort to recruit people under them?
It is very important to find out why the prospect is saying a no to your business proposal. You also do an introspection whether they would have said a yes if you had approached them in a different manner. This helps to improve you on a whole as a network marketers.
Does that make sense?
#5. Never chase, pester or annoy your warm market prospect.
Never beg or pester your warm market prospect into joining the network. You might get them to join initially, but eventually they would quit sooner or later.
Moreover, if your friends and relatives come to know that you are on this spree to add people to your network marketing business, they would start avoiding you, which is probably the last thing you would want.
If you are looking for people to join your network and you are attending a party. You can approach your potential warm market with a simple line like “ Hello, would you be interested in a business opportunity if it would not interfere with your current job?”
Accept their response and if it is a positive one, well and good for you. If it is a no, approach the next person.
#6 Remember how you know your prospect
The individuals you talk to in your warm market know you beforehand. Be understandable and personal to them. Call upon how you know them. Try to make the circumstances sensible. They already know your story and unless you have a continuous record for business excellence, it may be doubting for you to properly advertise your opportunity.
This is where how they perceive you play a part in your strategy. They previously cherish you! Your warm market should consist of individuals who are fond of you and appreciate you. As you originally approach people, be sure to address them in such a way that not only seems sensible but also appear accustomed to them. Many times we are so excited initially, we talk way too much or don’t even appear like our true self. Try not to take the conversation in such a way that they feel like they are conversing with someone they don’t even recognize anymore. Always be your true self.
#7 Always Ask for Referrals
This is an excellent warm marketing strategy because it is a straightforward thing to do. If your warm market prospect is not themselves interested in the opportunity, this topic can be introduced somewhat like “I am aware that this may not be a perfect fit for you, but if you know someone ideal for something like this…” Once you get some referrals, speak face to face with the person referred before smothering them with lots of links and information. This will let you know if they will be suitable for your downlink.
Do you have any other ways of approaching a warm market prospect? If yes, comment below!
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