Who Is Your Target Market?
Ann, this information is great and everything… but this is written for people who are already in network marketing, not people who are looking for an opportunity. How am I supposed to use this to go after people who want to start a home based business? This isn’t reaching out to my target audience.
Allow me to clear something up.
Network marketers are our target audience.
Or at least one of them anyway.
Let me explain (there’s more to this than meets the eye).
When it comes to marketing, the most profitable habit you can acquire is having an obsession with finding groups of people who have proven they are starving for the kind of offer you’re selling.
Note the word “proven.”
How can one determine this? Consider these different categories, or classifications, your prospects might fall into.
#1. Total strangers. People at the mall, your coffee shop, etc. This is a terrible idea. You can’t go after a worse group of “prospects.”
#2. Friends and family. This is just slightly better than the first group. You know the saying, “People like to buy from those they know and trust?” Well, this absolutely is true, but the missing ingredient here is that most of the time these people weren’t looking for what you’re offering anyway. Which completely nullifies the fact that they know you. Plus, some families don’t like each other and some people don’t have any friends. (I’m referring to myself of course, not you! 😉
There is an exception to this. Sometimes, after you’ve become successful in your business, your warm market can become a source of prospects for you. At this point, some people may be interested in what you’re doing and ask you about it. This is pure icing on the cake though if it happens. You can’t make this the main focus of your efforts. Your time is better spent elsewhere.
#3. People who are already involved in a sales profession or people who have great communication skills. A very small improvement, but not much. They haven’t demonstrated in any way that they’re interested in owning a business.
#4. People who are looking to run a home based business (aka – opportunity seekers). Now we’re getting somewhere. These are people who we know are at least somewhat interested in what we have. To one degree or another, these people are searching for information on how to become financially independent. They’ve filled out a form or they’ve responded to a survey of some kind. My first real success in mlm came from contacting opportunity leads. This is good. But we can do even better. We’re looking for the absolute highest ROI on our activities.
#5. People who want to own a home based business and who buy information about how to do it. These people don’t just fill out forms, they actually whip out their credit card and buy. A much more serious prospect. Where can you find these people? The subscriber lists of online and offline work-at-home magazines… the customer lists of people who sell generic home based business information… etc. We’re getting closer with this group of people, but we’re still slightly off base.
#6. People who are in mlm. Bull’s-eye! Now we’re really getting savvy at marketing.
Matt, here’s the truth of the matter: The heavy hitters don’t target opportunity seekers. They target other networkers. This is because they understand the direct marketing principles we’re talking about right now.
Like it or not, that’s how they do it.
How do you think they build their downlines so fast?
The reason other mlmers make ideal prospects is because they are already sold on the network marketing business model! You don’t have to convince them of that.
Plus, people in network marketing, and actually the entrepreneurial/sales industry in general, are extremely motivated buyers. In fact, we’re one of the “hungriest” crowds in the world. We are voracious consumers of information.
People like us tend to be the type who’s hobby is reading self-improvement books and pretty much anything to do with making more money. So selling “how to” information on what it really takes to be successful in mlm is the perfect lead generator.
But more importantly, someone in network marketing has PROVEN that they’re interested in the same kind of solution you offer because they’ve taken action. They’re in the game. They’re not just sitting on the sideline filling out forms and wishing that a million bucks would fall into their laps. They’re getting out there and doing something about it.
If the idea of selling to people already in your industry seems strange to you, consider this:
In the physical brick and mortar world, the best location for a business to put up shop is right next to their competitor! Why? Because there’s already an established traffic flow of their ideal customers right there waiting for them! All they have to do is tap into it. Why make your prospects drive half an hour across town when you can be just 3 minutes away instead? Ever notice how there’s always a Home Depot within a few blocks or even on the same street as Menards or Lowe’s? Or how Walmart is just a stone’s throw away from Target? Or how you can see the Cub Foods from the Rainbow parking lot?
This is no coincidence.
When direct mailers send out promotions in the mail, they always make sure to send their offers to people who have a proven track record of buying products or services similar to theirs. Anything less is pure suicide.
If you’re selling diet pills you want to sell to people who already buy diet pills.
If you’re selling fitness equipment you want to sell to people who already buy fitness equipment.
If you’re selling business opportunities you want to sell to people who already buy business opportunities – not just look for them.
It’s all about getting the most qualified prospect possible.
So is this the most qualified we can get?
Nope. We can still do better!
#7. Frustrated network marketers (people who are in between companies, people who have been through multiple companies, people who have quit, people who are actively looking for ways to improve their business, etc.).
When it comes to attracting people who are looking to build a business, this is the creme of the crop. And the good news (or bad news, depending on who’s perspective you’re looking at it from), is that the vast majority of mlmers fall into this category.
See, most mlmers think that opportunity seekers are their target market… but when you get down to it, network marketers are opportunity seekers! Because there’s a darn good chance they’re not satisfied with their current one!
These are people who we know without a doubt are interested in our offer, they’ve proven they’re willing take action and buy, AND they’re not getting the results they want so they’re open to new information.
They’re already sold on the idea, they believe in the industry and they believe it’s possible. They’ve been let down but they still have the dream. And if they can just find a “how,” a better way to do it, they’re all over it.
Surely we cannot find anyone hotter than this. Or can we…?
As a matter of fact we can, and in case you haven’t guessed it by now, the very best, most responsive group of people you can ever make an offer to is…
You’re Very Own List Of Customers Or Subscribers!
(Provided They’re Satisfied Customers Of Course)
But that’s definitely another subject for another time. I think we should clarify a little bit more how this process of targeting other mlmers actually works because I know it’s something that may not be sitting quite right with you.
Are we trying to steal reps from other people’s downlines?
But the reality of this industry is that people switch companies ALL THE TIME. Many are also in 2, 3, even 4 or more at once. (Not to mention companies themselves come and go everyday, leaving all their distributors out in the cold).
9 out of 10 people you’ll talk to are failing (whether they’re willing to acknowledge it or not) and are unsatisfied with their current situation. Statistically, the average distributor barely lasts 3 months with their opportunity before they quit. Then they’re on to the next one in hopes that this time things will be different. This is the best time you can ever reach someone: When they’re in this transitional phase.
See, they’re going to end up joining some other company, it might as well be yours!
And the way you get them to join is by NOT selling your opportunity like everyone else is. You’re not trying to steal anyone’s downline. That’s not the agenda you’re pushing. You’re giving to them before expecting anything in return. You’re offering good information that genuinely helps them whether they do business with you or not. This comes back to the whole point of educational marketing.
This is why when you do get on the phone with your prospect, you’re not pitching them. You’re not shoving anything down their throat. Instead, you’re finding out how you can best be of service to them. They may be in the “honeymoon” phase of their opportunity and have no desire whatsoever to hear about anything else. That’s great.
But 4 months down the road when the time is right, when they’re fed up with not getting anywhere, when they’re ready, they’ll come to you and say, “Well Matt, what is it that you do?” The reason is you’ve been helping them this whole time (in a completely automated way of course).
You want to cram your marketing pipeline full with thousands of other networkers that you’re building a relationship with.
Then, the next time some of them quit and begin looking for another company, you’re the first person they turn to. When a company goes out of business and you’ve got 20 of their reps in your pipeline, guess who they’re calling?
Remember Chapter 5? It’s just like the realtor who provides people with free classes and useful tips on how to navigate the market and get the most house for their money. When it comes time to buy, who are people going to call? Them or the realtor who’s saying “give me your money?”
That’s why you don’t want to advertise your opportunity. You want to advertise information.
Now remember at the top how I said that network marketers are one of our target audiences?
Well, the process I’ve just described is one way to build a downline quickly by targeting a certain group of people – “opportunity buyers.” This is a “niche” you can go after and The Renegade Network Marketer is geared towards this niche and specifically teaches you how to sell to it.
However, there are other ways to do it, other niches you can go after, and the marketing principles in The Renegade Network Marketer apply no matter where you go, no matter what you’re selling or who you’re selling to.
It is important to look at other niches because if you only go for the “opportunity buyer” niche, you may be limiting yourself.
The theme always remains the same though: Give your prospects value instead of a sales pitch. Lead with information. And the information you’re leading with has to match the niche you’re targeting.
For example, if you want to retail your company’s products first before offering the opportunity to anyone and your company makes skin care products, you want to lead with information about skin care. Information that is useful by itself.
If you’re targeting people in the broader “make money from home” niche (not necessarily mlm specifically), you’re going to want to take a slightly different approach than if you’re targeting people who’ve been in and out of network marketing.
But here’s the thing about that: People who are looking for an opportunity in the “traditional” sense are interested in this information too (information like The Renegade Network Marketer that is).
A good amount of the leads that I generate through this system are people who are just beginning to look for a home based business. They’re out there doing their own research because they want to know all there is to know before getting involved with something. They research the industry in general and they look into specific companies as well. And along the way they’re open to any information that they perceive is going to be able to help them.
So by advertising to network marketers, you will by default get other people in your lead generation system as well. The difference between the two groups is the amount of information/education it may take before someone is ready to join your business.
I hope this has helped shed some more light on this business and the methodologies behind finding hungry crowds of people.
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