Archive for December, 2008
Are You Hitting Your Numbers
Monday, December 15th, 2008How many prospecting calls did you do today? How many people did you invite to a presentation? How many follow-up calls did you make?
If you are in network marking and you aren’t asking yourself these questions, then you may not actually be working your your home based business. When you push yourself to hit your numbers, you keep yourself in the game. Keeping yourself in the network marketing game is half the battle.
It can be hard to stay motivated to working your MLM business when you aren’t making any sales. Changing your mind-set to only focus on hitting your numbers is a good way to keep yourself working on your business.
A Word Of Caution
I don’t want you to focus all of your efforts on making sales. A lot of network marketers can do their business harm by only focusing on how many sales they make each month. It’s great to have goals but you can sabotage your marketing efforts if you only focus on how many sales or how much money you are making.
Focus Only On The Hitting The Right Numbers
Once you have a system in place that you can follow, follow that system and trust that the sales will come. Once you have your system outlined, allow yourself to just follow that system. Knowing your numbers is important. For example, when you know that by making ___ number of calls today you will have ___ number of qualified prospects, which in turn will produce ___ number of sales. When you know your numbers, you only need to focus on making the calls because the rest will come. You know this because you have a system and you know your numbers.
Being In The Moment
You’ve heard the saying about being in the moment. Being in the moment, focuses you on a specific task. Working from home can be challenging for some people because of all the distractions that take place at home. By following your network marketing system you stop worrying about making the sale and focus only on the step that you are doing. If you do everything only looking at the end result, you can miss out on the journey. Be careful not to focus on the future (it’s a mystery anyway) so that you can focus on reaching your numbers today.
Network Marketers who follow a proven system are always successful in generating sales and do it with less effort because they know what to expect every time they pick up the phone. When you have a system in place, you always know what your next step should be.
Creating Your Prospecting System
Now that we have spoken about a system, lets create a prospecting system that you can follow to grow your network marketing business. First, we have to list the total number steps in your prospecting approach. You want to figure out how you will make your initial contact with your prospects? What communication tool will you use: telephone, face-to-face, e-mail?
Next, figure out how much time there should be between each step. For example, If you are using e-mail to connect with your prospect then: Day 1-send an e-mail introducing yourself; Day 3-send an e-mail with good content; Day 5-send an e-mail with good content and an offer.
Finally, list how many times you attempt to make contact before moving to the next step.
Here is an example of my telephone prospecting system
Day 1 – Call a list of targeting names and invite those that have an interest in my product/service to a presentation using my prospecting script.
Day 2 – Follow-up with those that I invited to a presentation and attempt to close those that I speak with using my closing script.
Day 3 – Make a second attempt at contact. If I can’t reach them “live”, I leave my first message.
Day 6 – Make a third attempt at contact. If I can’t reach them, I leave my second message.
Day 9 – Make a final attempt at contact. If I can’t reach them, I leave my third and final message. Then I make this lead a non-priority and put it in a separate file for possible future contact.
Testing Your System
In marketing, testing is a big part of success. Like everything else in business, you may have to adapt or change your system to fit the market or the economy of today. The best thing about having a system and knowing your numbers is that you can make changes and keep the changes that are working better. If you make changes and your number don’t improve, go back to the system that you were using.
Staying Focused
By having a prospecting system, I can stay focused on the one task that I am doing in the moment. I don’t worry about the laundry, or cooking dinner, or how I am going to pay for something. I only focus on whatever step I happen to be on in my prospecting system. Let me put it this way. What you think is what you get. Therefore, if I am worried that I may not be able to make enough money, then the likelihood of getting just that is increased. If you want to get more prospects, stay focused on the act of prospecting and recognizing if there is a good fit between you, your prospect, and what you are selling.
At this point, I hope that you are feeling like you have enough to get you started on growing your home based business. Please realize, that I am not saying that the process of growing your business is going to be easy, let alone happen as fast as you may want it to. If it were easy, then everyone would be doing it. Make prospecting about the prospect, their wants and desires, and if there is a good fit between what your prospect wants, what you have and you. Give yourself time to get comfortable with your new skills. Remember, that practice makes perfect.
If you are ready to become a Heavy Hitter, make more money, and create a better life, give me a call. I would be happy to discuss how we can work together to reach your goals more quickly. Find out what the top income earners of your network marketing business already know, everyone does better when they have a mentor in their corner supporting them.
The Different Forms Of Prospecting
Friday, December 5th, 2008As a network marketer, prospecting is the most important activity we can do to grow our home based businesses. When I think of prospecting, I usually think of cold calling. Cold calling gives a lot of network marketers bad thoughts.
You may be thinking of cold calling as calling or approaching a stranger with the sole purpose of getting them to buy your product or service. But if you look at cold calling as prospecting for those that have a need, want, or a desire to fix a problem that your product or service can fix, then consider how many people you can help by prospecting.
Prospecting comes in many different forms and if cold calling isn’t for you, then maybe one of these other prospecting activities will be more to your liking.
Prospecting Form #1
Prospecting form #1 is telephone prospecting. This is one of my favorite forms of prospecting, especially when I am trying out a new prospecing script. I prefer using a script because it helps me to stay focused on what I am doing.
For beginners and testing purposes, the telephone and cold calling is the best form to use in my opinion. It’s the cheapest and quickest method to use.
When you are first starting out, cost can be a big factor for some network marketers. The majority of people already have a phone and getting a good long distance plan these days is pretty easy. The only other things you have to have are a prospecting script and a list of people to call. (I will share with you how to get leads for less than a quarter in the future.)
Using the phone is also a quick method for reaching a lot of people. Typically, a network marketer that is focused on their task can dial between 45 – 60 numbers an hour. Consider how long it would take you to do that using the face-to-face method.
Prospecting Form #2
Prospecting form #2 is Face-to-Face prospecting. This prospecting form has some similarities to telephone prospecting. You have to have a prospecting script (pre-planned opening to create interest) and you have to have people to visit.
Being efficient at face-to-face prospecting also requires you to be able to do a full presentation on the spot or to be able to set up a future appointment.
If the decision-maker isn’t available, then you have to be able to get the necessary information in order to be able to talk to that person in the future. You will have to have the decision-maker’s name, their phone number, and the best way to reach them.
Prospecting Form #3
Prospecting form #3 is Trade Shows. This form can be broken down into two categories. Trade shows that you attend and those where you are an exhibitor. This prospecting form has some similarities to face-to-face prospecting. In that you have to be able to do a full presentation on the spot or be able to set up a future appointment.
Trade shows can be a great place for meeting and finding prospects in your target market. However, being an exhibitor at a trade show could cost you quite a bit of money and you have to be good at creating enough interest so that people will stop by your exhibit and want more information. With a hall overflowing with fascinating products/services, combined with time constraints, people need a good reason to come and visit your booth.
Prospecting Form #4
Prospecting form #4 is social functions. Social functions can be a great source of leads. However, you have to become comfortable with meeting new people and it’s good idea to develop an effective networking strategy.
More often than not the conversation will turn to what you do for a living. It’s a good idea to have strategy to respond to that question. Spend some time preparing your opening dialogue (prospecting script) so that you will have an intelligent response to the question.
Again, your intent is to create interest and to open the door for further discussion.
Prospecting Form #5
Prospecting form #5 Seminars and Workshops. This prospecting form can also be broken down into two categories. Seminars and Workshops that you attend and those that you deliver.
Seminars and Workshops are all about the presentation. As with doing a trade show, there can be a large expense involved.
As an attendee, you can do your prospecting as if you were at a social function.
Prospecting Form #6
Prospecting form #6 is asking for referrals. You can get referrals from a variety of sources. Basically anyone you know could become a source of new business.
Typically, your existing customers are going to be your number one source for referrals simply because they are the ones who actually use your product or service.
As a network marketer, it is essential to ask for referrals because the customers who have referrals, often become a business builder themselves.
Prospecting Form #7
Prospecting form #7 is Ad Copy. Ad copy can come in the form of: Press Releases and Articles.
As a network marketer, writing press releases and articles is a great way to get new business. The written word is a powerful tool in building your credibility as an expert in your field.
This prospecting form can also be done at no cost. I personally love getting leads from articles that I wrote about a subject that catches a prospects attention. These leads are often converted to sales a lot easier than any other prospecting form.
Prospecting form #8
Prospecting form #8 is the Internet. The Internet is probably the most powerful tool that any network marketer can master.
However, being able to use the Internet is not the only skill that you should have. It’s one thing to be able to get an unlimited supply of prospects but if you can’t follow through and convert your leads into sales, your business won’t be any better off.
That being said, I love the Internet as a prospecting form. Being able to generate my own leads is an awesome feeling. The best part about these leads are that they are prospects that are already interested in what I have.
I hope that you have gotten some valuable information about prospecting. I recommend that you use more than one prospecting form to get your leads. If you only rely on the Internet to get your leads, you could get hurt when a search engine changes it’s rules.
Don’t worry if you don’t feel comfortable prospecting. Confidence comes with developing your skills. Developing your skills comes with learning and implementing what you learn.
If you would like to learn the art and science of marketing, feel free to contact me. My passion is helping other network marketers grow their businesses.
Prospecting For Profits
Monday, December 1st, 2008Let’s talk for a minute about prospecting. It’s the one thing that will absolutely, without a doubt, grow your business. If you stop prospecting, you turn off your cash flow. Sure you may see some residual income for a time, if you have been successful in growing a business in the first place but if stop prospecting, eventually your income stream will become a little trickle.
I get a lot of network marketers telling me that they don’t like to make cold calls. I can tell you that there was a time that I didn’t particularly care for it myself. However, once I learned the right way to prospect and the many different ways that prospecting can be done, I grew to love it.
So, I want to caution you and say that you have to prospect and you have to prospect correctly in order to grow a business.
Learning To Prospect The Right Way
The first step in learning to prospect is to recognize what you are looking for when you prospect.
The first thing that I teach others about growing a business is to lead with your product or service, not the opportunity.
Here’s why:
First, everyone has an opportunity. If you want to seperate yourself from others (and you definately want to) you want to lead with your product or service. When you lead with the opportunity, you sound just like everyone else with a great way to get rich.
Second, your drop out rate will drop dramatically. If you lead with the opportunity and someone joins your business based only on their ability to make money, then as soon as they see that the money comes only after they build a big business, which requires that they work their business, they quit. The average length of time that a person stays in a network marketing business is 60-120 days.
Third, people with follow a leader. Others will buy from an expert in their field. Noone likes to get the trainee. (first name), you cannot position yourself as an expert in growing a large business, until you have actually done it. It’s a little like taking stop smoking advise from a chain smoker with lung cancer. So, unless you have generated serious income with your business, you cannot effectively lead with your opportunity.
There is good news. By leading with your product, you can be an expert. Everyone has the ability to become an expert with their products they market. Let’s say that you are marketing a gas saving product. You can study and understand all of the benefits and the values of that product, and you can position yourself as an expert in saving gas.
Listen, I don’t want to be the one to tell you how to opperate your home based business but if you know deep down that you could be a lot more successful if you only did something towards growing your business, then learn how to prospect effectively and then get out there and start prospecting.
You do have another option. You could get out of network marketing completely and just keep doing what you are already doing, placing a limit on the amount of money that you can earn or you can make a change for the positive and grow your business, starting right now.
Prospecting isn’t the only way to grow your network marketing business but it is a very effective way to get sales. If you don’t currently have the skill set to do prospecting or if you feel that the phone weighs too much to pick it up, then stay tuned, there will be more on the subject of prospecting. I’m sure there will be a bit of information or two that you could use.
