Who is your ideal prospect in network marketing? Which “demographic” or “group” of people should you focus your recruiting efforts on? Well, I should start out by telling you that you should never pre-judge anyone. There are exceptions to every rule and not talking to someone simply because you think they aren’t part of your target market would be foolish.
However, it is also foolish to talk to everyone and anyone. Your best course of action is to seek out people in your target market, so you can improve the likelihood of finding quality prospects.
You see, all businesses have a target market. A target market is a group of people with certain demographics that are MOST LIKELY to become a good customer. Once again, not everyone is in your target market.
- For example, a realtor wouldn’t try to sell a million dollar home to a broke, homeless person.
- A small business accountant wouldn’t advertise to people who don’t own a business.
- A high end car dealer wouldn’t sell a car to someone who doesn’t have the money or credit to buy a car.
Does that make sense? Smart business owners focus on their target markets. Just remember that every business has a target market, including network marketing.
If I had to describe your ideal prospect in network marketing into one sentence, it would be this: your ideal prospect in network marketing would be someone with a job or business, with some disposable income, who loves your product line and has the desire to build a second income stream.
Targeting unemployed folks is normally a mistake. They are not looking for a business they are looking for a job.
Targeting broke folks is normally a waste of time. They don’t have the money to get started or buy the products.
Targeting job seekers is normally a waste of time. Once again, they are looking for a job.
Targeting business opportunity junkies IS a waste of time. They will join and then quit in the first 60 days, when they are off chasing the next shiny object.
Now, I’m not KNOCKING any of these people. I’ve been unemployed and broke myself! However, I am just telling you that they are not ideal prospects or part of your target market. Yes, you might recruit a few of these folks, but the chances are, they won’t do very well in the business, or stick around very long.
What you want to do is focus your efforts on people in your target market. That way you can work smart and have higher conversion rates, and sponsor better quality prospects.
Your ideal prospects really break down into two categories:
1. People who will love your product line
2. People who will love your business and want to create a plan B
The approach I use to build my business is finding people who would love my product line! I think that is a much smarter and much easier way to build a network marketing business than trying to find people to become distributors.
Furthermore, if you can find people who love your products, they will keep ordering each month, even if they never build a business. That is what creates the residual income.
If you just focus on recruiting distributors, 90% of your team will quit each year and you will have a revolving door in your business. Yes, a few leaders will stick and you can build a big team, but it is much harder using the product approach.
Here’s what you should do right now.
1. Identify your ideal prospect for your company – Which group of people would be most interested in your product line? For example, I sell weight loss and health products, so I know my target market is people who WANT to lose weight and be healthy AND people that have the money and desire to purchase weight loss and health products.
2. Learn everything you can about your ideal prospect/target market – You want to get inside the head of your target market. You want to know how they think, what magazines they read, what products they currently buy, where they shop, where they live, etc. The more information you can collect, the better. If you already have customers, you should do a survey with them to get this information.
3. Find ways to advertise or connect with people in that target market – Once you know the demographics of your target market, you can focus on ADVERTISING via direct response to target these people exclusively. You can also join local networking groups that these folks are most likely to hang out at.
Using this one strategy alone will really skyrocket your business! Work smart, not hard. Do what smart business owners do and focus on your target market or ideal customer. This one strategy alone will save you a lot of time, money and headaches.
What are your thoughts? Leave a comment below to let me know what you think.