More and more people are joining MLM’s for a needed extra income (or just an income). Retirees are the most prevalent investors, but since jobs out of college are so hard to find now, it’s a good alternative for those with sales type personalities. But what if you’re not the most outgoing person in the world? How can you make money on reselling products?
Well, you got excited or convinced you could sell it, and you bought in. Now you’ve had it for a few months and you aren’t making the sales to even pay the monthly fee. Everyone that you’ve brought it up to has a better product they are using and thinks you’re crazy. You’re losing friends by trying to tell them about something they don’t want. People in the bar even move away from you when you start talking about it – because you sound like you’re selling as soon as you start talking.
Or, maybe you sold to a few people when you first got started and you’re stuck now – you don’t know where to go or who to reach out to. You’ve exhausted all your contacts (in more ways than one). But, if you could sell a few (or a few more), that extra money would be really nice – you could catch up on your car payments, pay off a debt that keeps haunting you, get the IRS off your back, or just put some away for your old age – or from where I’ve been, buy groceries!
It sounded great when you first heard about it, but now you know there are tons of competitive products out there. I absolutely love Nerium, and it not only works, but it also lasts for a long time, but you tell a woman about it that’s had a facelift and they’ll tell you they aren’t putting anything on their skin unless their dermatologist recommends it.
Too bad they didn’t have a training video up front that told you all the objections people would have and how to overcome them, isn’t it? Some even do, but I haven’t yet seen one that covered hardly anything as far as real life goes. And do you know someone who is a serial MLM junkie? If one product doesn’t work, or the easy sales have ended, they just move on to the next one. I have a friend like that – every couple of months, she’s selling a new one, and that’s not good.
Here’s what I’ve found out – you really have to find ONE system (or maybe two that are vertical markets) and stay with them. There are a ton of MLM’s that have been around a long time, are well respected and seem to do the best, but you really have to pick one that is actively coming out with new products all the time so you have new and exciting news to promote or else you just run out of things to say.
You also have to look at payouts – if you get $20 or less for a new client, is that enough? Think about how much time and money it’s taking you to find that one new client. Even if you think that it will pay off in monthly income, do you really know the attrition (drop-off) percentages for your product? You should. And you should know the cost of acquisition, as well. You should also know that your time is worth a dollar value – you need to figure out what that is and then and how much time you invest in each new client (product training, how-to-sell techniques, etc.).
Here’s the secret – the big sellers that have been steadily selling the same product over time invest in internet marketing. Even if it’s LipSense, Aflac, SocialZing or Juice Plus, if you’re not investing in Social Media Marketing and also in internet advertising, you’re never going to be a top seller. The top sellers are already there – they already know the secret.
That’s not all either – if you’re selling a higher end product that’s a little more of an investment, you have to know how to sell. You have to know:
- the common concerns people have
- how to overcome those concerns – how to sell without being “salesy”
- the competing products
- everything about YOUR product
We can’t necessarily help you with #3 and #4 unless we’ve already been involved in that one (and we’ve done a lot of them), but we can certainly help with #1 and #2.
Here’s a #1 tip – when you hear someone say “I don’t have the money”, do you stop right there? We can teach you that it doesn’t always mean that they don’t have the money, and how to tell the difference.
#2 is the huge one – you have to ask the right questions and listen to their responses – feel their pain.
You have to carry them from the desperation mode of here and now to seeing themselves as successful. After all, hope is one of the most powerful emotions that you can tap in to – the hope of being successful.
You have to convince them that you are the way there – that you’ll help them, stay with them, train them and care about them. We stress that you have to have that plan – that you honestly have to do those things that you promise, or there is no way to sustain your growth.
Then we work with you on what your target market actually is and how to best market to just that market. Paying to market to everyone is a waste of time and money. It’s a basic concept, but not always as clear as you’d like.
Example 1 – if you’re selling lip color or “wrinkle cream” (Nerium), your market is pretty clear, although slightly different between the two. You would want to concentrate on women for both, but you should start with different age brackets, older for Nerium and you should target high sunshine areas because women are more wrinkled that stay out in the sun. Common sense, right? You’d think so, but you wouldn’t believe how many people don’t think or do the research for their product.
Example 2 – Juice Plus has a new product that I’m VERY excited about – the Tower Garden. It uses aeroponics and provides it’s own lighting, so you can put it anywhere and produce fresh vegetables in around 4 weeks. So who would you target for that? Think about it while you read the rest of the article (answer at end).
Example 3 – You’re a consultant. You work with people who are looking for a job, or small businesses that don’t know how to run a business – you know your target market. You even understand how important internet marketing is to your business. But you don’t know who will provide the best services the most cost effectively, so you try to do it all yourself. You know it will take forever this way, but you’re just too overwhelmed to do anything else. There are ads and articles and emails everywhere promising the best services, to solve your problems – what do you do?
You certainly don’t have time to call every person or business that could use your product or service. But you don’t know who might be in the market for what you do in the near future.
That’s why you need to do a multi-pronged approach including Social Media Marketing and Google Adwords and Facebook Ads (and other ads, depending on your target market).
Social Media Marketing will let everyone know what you’re selling and how to reach you – you have to be there when they need you. Since you probably have competition, you have to use an offer of some kind (download of relevant information, free consultation with guarantee or money back, free product sample). It has to be something that will attract them to you over your competition.
Ads do almost exactly the opposite in the sense that they find the people who are already interested and are ready to buy. You still have to offer something better than your competition. You must differentiate yourself, tell what you do different and better, have references from clients, have video that lets them connect with you.
There must be a plan for both approaches and a follow-up for those who don’t buy, as well. Most people do not understand how important a CRM, or “lead to client” system (software combined with a process), is. And just as you depend on your company to come out with new products, you have to develop programs for and track (categorize) in your database accordingly.
This is all Business 101, but you’d be surprised how many entrepreneurs and business owners do not understand the process – and that it’s all a matter of numbers. Every salesman knows that success in their job is based on a percentage of the number of attempts they make to sell.
Back to example #2 – who is your target market for a growing system that only uses a very small footprint to produce fresh vegetables very quickly? I’d start with middle to high income, 40+ in age, higher education, either gender, city dwellers, and people who are health oriented. But that’s not the only target I’d start with – what about people with small children who possibly home school, or just want to teach them about where food comes from? What would be the demographics for that market? Where would I find them? Would that be SMM or would ads reach them, i.e. would that be an impulse purchase or would they know to go out and search for it on ads? My bet would be SMM.
We teach how to TRACK and INTERACT with the leads we generate for you PLUS your posts to your Social Media accounts will link to:
- A Capture page (name, email, whatever you need to capture), which will be emailed to you. If you select the CRM option, this info will update it automatically!
- This page is more informative than your web site and should tell why you are different and better than your competition, while promoting a sale or special deal of some kind, so you get a great looking page with your message along with the form.
- 1-Box CRM where you can create Email categories for your lists – you an import your LinkedIn contacts (and any other contacts) and keep in touch, which will lead to a much higher percentage of sales (extra charge).
BE AN EDUCATED CONSUMER AND YOU’LL BE A SUCCESSFUL ONE.
By the way, ask us the difference between SEO and SEM and why both are important!
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What Dawn is passionate about and speaks on:
– How to Run Your SMB like a Large Corporation
– TIP – the Time Invested Principal
– Why Your Website is Not Working!
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