Network Marketing – Warm Market
Welcome back to today’s A-Z series of Network Marketing Success for stay-at-home mums! Today’s topic can help a lot of mums who are not sure if Network Marketing is for them. Many people wonder if they might lose their friends if they do take on this Network Marketing business.
Let’s dive in and explain what a ‘warm market’ is first. In Network Marketing, we call those people that we know our warm market. Typically, those are our friends, neighbours, colleagues and relatives. In contrast, strangers are our ‘cold market’. Most people feel uncomfortable approaching strangers.
The good news is, we do not have to approach strangers. Stay-at-home mums can build their business very differently from those aggressive ‘heavy hitter’ network marketers who prefer to approach a lot of people in a short period of time.
A Double-Edged Sword
The warm market, however, is a double-edged sword.
For those who have never been in any Network Marketing business before, their friends or relatives can easily discourage them to start doing the business in the first place. Until today, there is still a negative stigma attached to this industry. Once on the Network Marketing journey, some friends who have failed in Network Marketing would want to ‘rescue’ you! As a new marketer, one must fully understand the nature of this industry, prepared to face the challenges and charge forward the right way!
For those who have done Network Marketing before but did not succeed, they typically do not have a big warm market any more! Most people are quite reluctant to re-approach their friends or relatives who have already told them ‘No’. Some may have rejected them in several different Network Marketing endeavours! There is no more warm market then?
Professionalism in Approach
This is the BEST approach for the two categories mentioned above.
For ex-Network Marketers
Re-approaching their friends and relatives with strong conviction is one of the ways to succeed. There are so few real leaders in network marketing. All prospects want to feel that they are following the right mentor to success. The message should be very clear – that you are focused and going ahead with or without them!
Personally, I did not found this way to be particularly helpful. I have chosen to create my own warm market instead.
Asking for referrals and business networking are two effective strategies for expanding the warm market. For stay-at-home mums, there are meet up groups that gather in the morning. There are online forums and groups where people can connect with new friends. Making friend and relationship building is so much easier now!
For more serious leaders, blogging or a business FanPage may be for you. Blogging is my online strategy to connect with more like-minded people who might wish to explore Network Marketing. I have also created a FaceBook FanPage to assist others.
For Those With No Network Marketing Experience
Start with a name list of friends and relatives. Those are the people who know and trust us. When we have found great products or services, why wouldn’t us want to share with others?
Professional network marketers use their skills to find out if others are open to checking things out. Going through a few simple steps, they collect decisions. Some will join them. Some won’t. That is all good.
As soon as there are customers, new doors are opened for more potential customers. Satisfied customers like to share their positive experience with others. Testimonials sell.
For any one person who joined as a business builder for this business, it is another door for some 100+ connections!
Working with the leaders is by far the best way to grow the Network Marketing organisation. The “Enrol 3. Help 3″ approach is for building a strong business foundation. Our company’s top leader advocates helping 5 to help 5. I believe you get the idea!
For those who joined, they are grateful for the introduction to something that gives them a better future! Professionals develop lifelong business partnership with their friends. Many great leaders in my company have introduced their own adult children into the business.
Losing relatives? It is far from the truth when we do things the right way!
Warm Market Expansion
For those who have very few friends or very skeptical friends, they will have to learn the skills to expand their warm market. How? Joining local interest groups is one of the best ways. When people with similar interests get together, it is easier to build rapport and build trust. As mentioned earlier, there are online channels to make friends as well.
WARNING: Do not abuse the friendship like many people do. Be genuinely interested in helping others. Skills matters!