Warm Market Network Marketing - Effective or Not?
Posted in Watkins Business by Eldon on December 12th, 2006 If you have been active in network marketing or MLM, you have surely heard the advice to “make your list and work your warm market”. This is the strategy of making a long list of people you know and approaching them with your business opportunity. It is the same advice that takes many new network marketers down a path to failure.
Do I recommend that you don’t work your warm market? Not at all. However, consider a typical scenario. A new prospect signs up with a network marketing or MLM business opportunity. They are told to make that list and start calling people. Being enthusiastic and all fired up they start doing just that. You can figure on at least 50% of such a list rejecting your approach right up front. They are simply not ready for an opportunity like you have. The other 50% may take a look, but most will not do anything. That is just human nature. Remember, you are approaching a group of people who have not been pre-qualified. They may have no interest in a home based business. They may be perfectly happy with their jobs and life as it is.
The budding network marketer reaches a point where the list is exhausted. What do they do now? This is a point where many simply give up and quit. At this point they may have sponsored a few from the list, but they are not yet making much (if any) money.
For this reason, I always advise new Watkins associates in my group to do a blend of warm market prospecting and advertising for prospects. Advertising can be either in your local area, or online. Advertising brings in interested prospects outside your warm market, and can provide a steady flow of leads long after your warm market list is exhausted.
A BIG benefit of outside advertising, apart from providing a steady flow of new prospects, is that you get people who are definitely interested and willing to take a look at your business. Working with interested prospects who have come to you (by answering your ad) - it doesn’t get much better than that! I strongly urge new network marketers to advertise for new prospects, in addition to warm market prospecting. Never rely on “the list” alone.
Contrast these feelings:
Feeling Number One: You contact a person on “the list” and try to convince them to take a look at your business.
Feeling Number Two: You contact a person who has answered an ad for your business opportunity, saying they want to learn more.
Which feels better? I really like feeling number two, myself! So, definitely work your warm market but don’t rely on it to carry your business far. Your warm market is just a starting point for your business.
About the Author:
Eldon Beard is a Watkins Manager with Associates All Across the USA and Canada
