Originally the strategy for Network Marketing or Multi-level Marketing (MLM) was to enroll 3 new business builders and then they would personally enroll 3 more distributors and so on down your line or leg. It was a business model of touching the lives of people around you and then those you enrolled did the same. This created a Word of Mouth Marketing channel for your MLM company.
This still is the primary form of marketing in Network Marketing and MLM companies. The truth is, that if you want to be in a top position in your company, you must touch many more lives then a few friends and family. You must treat your business like a business and understand who your target customer / Distributor is. To achieve a top position takes numbers. Speaking to many friends and family members or reaching beyond that circle and outside your comfort zone. And, I want to remind you that this is your choice.
If your vision is to secure a consistent monthly residual income, it will be important to commit to talking to many people, who if interested and then qualified would be a part of your sales pipeline until they sign up with you as a customer or distributor.
Simply put, your sales pipeline is the amount of prospects you have considering doing business with you. It is a way for you to estimate, based on your success rate, just how many people will make the decision in a given month to work with you. In sales we call that your closing or conversion rate.
An important feature of your pipeline is that it should be filled with qualified target-rich prospects.
These are people who you have (or will have) had significant conversations with and who you have learned that they would use your product as a customer and or are interested in having a business affiliation with your company.
“The first step is to create a quality database or prospect list. Think quality over quantity. While it is tempting to create as large a data base as possible in hopes that just through sheer numbers you will produce qualified prospects, this is only true to an extent.” Yes, you need lots of prospects, but if they are not interested in your product or business opportunity, they will only dilute your focus from the best opportunities (Paul Alves CEO Salesworks)
There is a process in sales called scrubbing your prospect list. This is keeping your prospect list up to date with contact information and any notes concerning each specific contact. You might even categorize them according to their current profession or how you met them. This should be easy if you are using a CRM or customer relationship management system. Remember this is the pool from which you will find your next customer or business builder. (CRM system: www.sendoutcards.com/4820)
To keep your pipeline robust and full of quality prospects, you will want to add at least one or two new contacts every day. This will be part of your actions for your success formula. Adding to your pipeline is ultimately the first step in creating a team that is growing. Decide on how many people you would like in your pipeline. Make a plan and work the plan. I like a pipeline of at least 100 people at all times. That works for me to have interested, qualified prospects that I can be continually following up with to learn whether now is the right time for them to join my business.
To your success,