In this post, I want to share the three step formula to MLM Success that I learned from Mike Dillard. Please keep in mind that this success formula applies to EVERY type of online business, not just network marketing.
Step # 1: Build a List
I say it all the time to people I coach and mentor: “The money is in the list.” Some people take note and others just ignore it and stick with what they know. As an entrepreneur, your single greatest asset in your business is your customer and leads list. When I think of big companies like AT&T, eBay, Amazon, Wal-mart, etc. I realize that what makes them powerful and profitable is their customer list, not their products or services that they sell.
As a network marketer, your goal is to generate a big, targeted leads list. I’m not talking about making a list of everyone you know either. I’m talking about building a list of people who express an interest in what you have to offer and give you PERMISSION to keep in touch with them. These are people who visit your blog or capture page and opt-in to your list, in exchange for something free.
In most cases, your list is managed by your auto-responder, but you could also do it through direct mail. If possible, I suggest using both methods.
Step # 2: Build a Relationship with Your List
As you build your list you need to build a relationship with them. Remember that people like to do business with people they know, like and trust. Your goal is to build that trust and likability by communicating often with your list AND by providing real value. You want to send messages that entertain and educate your prospects and position you as an authority in your specific subject. You can send messages such as a tip of the day, an inspiring quote, a great video you found online, a good blog post you wrote or read, or anything else along those lines.
You have to remember that it will take TIME to build the trust and likability of the people on your list. For some folks, it will take you a few months to get them to trust you. And for other folks it might take you a few years to get that trust. Regardless of how long it takes, it’s worth it.
You simply want to keep sending good emails a few times a week until people die or unsubscribe from your list. The more you keep in contact, the better off you will be. You can’t expect to send one email a month to your list and build a good relationship with them. The bare bones minimum is once a week. Just communicate often and provide good content and you will be fine.
Step # 3: Monetize Your List
Once people on your list know you, like you and trust you it’s time to monetize your list. You can monetize your list by sending email or direct mail offers for products or services that your list would be interested in. This could include your business opportunity, certain affiliate products, training courses or whatever else you find relevant.
Every time you find a new product you can send out an email to your list and make money on demand. The bigger your list and the better relationship you have with them, the more money you will make. Imagine sending out an email and making a few thousand dollars or even tens of thousands of dollars or more from just one email. It’s possible. Many people do it, and so can you if you follow the advice I just mentioned.
Don’t underestimate the simplicity of this MLM Success Formula. Please realize that the money is in the list. Everything you do should be designed to build your list. This can be an email list or even a direct mail list. As you build your list, make sure you provide good information and position yourself as an expert who always PROVIDES VALUE. Once you have the like, know and trust factor down with your list, you can monetize it by recommending products and services they might be interested in. Following this approach lets you make money on demand.
That’s really the key to success. What are your thoughts?