Archive for the ‘Network Marketing Tips’ Category

MLM MARKETING IS HOT

If you do a Google search on “MLM Marketing” you will get 336,000 results as of the date of this article.  135,000 individual searches were performed on “MLM Marketing” in December 2009.  How significant do you think this topic is?  Network marketers are looking for help marketing their MLM companies.

NO ONE CARES ABOUT YOUR MLM COMPANY

No offense, but it’s true.  No one is interested in joining your company.  So, what exactly are the top earners in MLM network marketing doing?  In a nutshell, they are using attraction marketing to dominate their company leader boards.  Essentially, the concept of attraction marketing is to brand yourself as a leader and be the hunted instead of the hunter (see my review on Magnetic Sponsoring for more details).  It is the “new school” method of marketing which completely opposes the “old school” method of chasing down friends and family.

The attraction marketing formula includes self-branding through MLM internet marketing.  Here are some of the internet tools the top earners are using:

1. Social Media-Facebook, MySpace, Twitter, LinkedIn
2. YouTube
3. Craig’s List
4. Pay Per Click
5. Article Marketing

IT’S CALLED A “LEADER” BOARD FOR A REASON

There are many free resources on the internet that will teach you how to use each of these tools to generate MLM leads.  Remember the statistics in the first paragraph?  If not, go back and take another look.  How does a network marketer choose from all the resources  out there?  If you want to dominate your MLM company’s leader board, look for LEADERSHIP.  You want to work with a leader that will support and guide you and teach you to become a leader.  All of the top earners followed the leaders before them and expanded on what they learned.  This is what I am doing and what you NEED to do if you want to have MLM success.

REMOVING THE “PROSPECT” STAMP FROM EVERYONE’S FOREHEAD

The leaders in MLM network marketing DO NOT PURSUE.  THEY are pursued.  And, they don’t SELL.  Their prospects and customers go to them with credit card in hand wanting to join their teams and buy their products.  They don’t look at everyone with the old school mentality that everyone is a prospect.  So, your first step in achieving MLM success is to FIND A LEADER. Your next step is to BE A LEADER.

MLM LEADERS ARE NOT A DIME A DOZEN

There are many self-professed gurus all over the internet.  The only true gurus are the ones that have successfully built a large MLM downline.  Obviously, that puts most network marketers at a disadvantage since the MLM success rate is only 3% at best.  So, how does a struggling network marketer get access to a true guru?  ASK.  The worst thing that can happen is the guru is too busy and you are referred to a leader in their downline.  A few degrees of separation are better than no connection at all.

Who is Mark Yarnell and why should we take his advice?  Mark Yarnell is an MLM leader who has made over $30 million in his MLM career.  He has been in the MLM industry for over 24 years.  Do I have proof that he has made millions?  Have I seen his tax returns?  No, I haven’t.  I also haven’t seen Robert Kiyosaki’s tax returns or Donald Trump’s.  But, if you continue reading and learn the top 5 things Mark Yarnell recommends doing to achieve MLM success, you will agree that it is sound advice and the key principles mirror the advice of all the top MLM leaders.

1. The Core Value Match.  Ask yourself “would I recruit my mom into my MLM company?”  Is your MLM company so good, so ethical that you would feel good bringing your mom into it?  If your core value does not match the MLM company you are in, you won’t be successful.  You will self-sabotage because you don’t feel good about what you are doing and your aren’t proud of the MLM company you represent.
2. The Market Sector. How big is the market sector your MLM company is reaching? What is the demand for your our product or service?  Is everyone already using it?  If you have to convince people to modify their behavior to use your product or service, you will have a much harder time selling it.
3. Professional Relationship Building. Spend 2 hours a day building professional relationships.  An MLM company pays you for 2 things: RECRUITING AND SELLING.  Period.  If you aren’t building professional relationships, you can’t do either of these.  There are different ways to build professional relationships such as making phone calls and marketing.  Whatever strategy you use, make sure you spend 2 hours a day doing it.
4. Your Income Plan.  Choose a 1, 2 or 3 year plan to reach your desired income.  For example, if your goal is $100k/month with your MLM company in 1 year, then you would need to speak to 30 people a day.  If you choose the 2 year plan, you need to speak to 20 people a day.  And if you choose the 3 year plan, you need to speak to 10 people a day.  You need to do it 5 days a week.  If you are thinking this is easier said than done, you’re RIGHT.  It is.  It’s one of the reasons the success rate in the MLM industry is only 3%.  Are you in the 3%?  If not, do you want to be?  The choice is yours.
5. Recognize and Avoid Bombs:
   1. Comparison Bomb.  Stop comparing and looking at other deals!!!  You’ve GOT to stay focused.  If you like your MLM company, your comp plan, your product/service, your upline, etc., don’t waste your time looking at other MLM companies.
   2. Friends and Family Bomb.  Just leave them alone!  Stop bugging them.  If they are interested, they will come to you.
   3. Dabble Bomb.  Don’t mess with the dabblers.  These are the people who want to figure out how to make money and NOT work.
   4. Dump Bomb.  Don’t dump all of your MLM company information on your prospects in the first 5 minutes.  This is also known as “vomiting on your prospects.”
   5. Short Cut Bomb.  There are no short cuts!!! You have to work hard. The good news is “hard work” and “full time” is 2 hours a day 5 days a week!!!

If there is only one thing you can grasp from Mark Yarnell’s advice, it should be that  you MUST build relationships.  If you have been following any of the MLM leaders, Mark Yarnell, David Wood, Cedrick Harris, Brian Fanale, Jim Chao, etc., they all agree UNEQUIVOCALLY that you MUST create a strategy where you are building relationships on a continuous basis.  The first step to building relationships in today’s market is to generate laser targeted MLM leads.  An MLM lead generation system is essential to generating quality, targeted MLM leads.

Understanding how an MLM’s compensation plan works is one of the most important factors in choosing an MLM company.  MLM compensation plans are NOT created equally.  There are binary plans, unilateral plans, aussie 2-ups, stairstep breakaways, etc. If you want to simplify your analysis and bypass hours of research, simply figure out how big your MLM downline needs to be to make the monthly residual income you desire.  There are MLM companies that require as many as 40,000 distributors in your MLM downline to generate $10,000 a month in residual income and other companies that require as little as 500 to make the same amount.  This is the difference between working for $1.25/hour and $100/hour.

If it is your goal to make $10,000 a month in residual income, figure out how much residual income you will make per sale, per distributor.  If a particular MLM company requires you to maintain 10 active customers to receive compensation on all levels, calculate what the residual income is per customer. If you make an average of $1.00 per customer for all levels in your MLM downline, then you will need to maintain 1,000 distributors, each maintaining 10 customers.  If you make an average of $.10 per customer, you will need to maintain 10,000 distributors in your MLM downline, each maintaining 10 customers.  Calculating the size of your MLM downline can be tricky depending on how complicated the compensation plan is for a particular MLM company.  But it CAN and SHOULD be done BEFORE you join any MLM company.  And, the key is to calculate your desired income based on RESIDUAL income, NOT bonus money.  The bonus money is a one-shot payment.  The residual income is paid month after month and SHOULD continue even when you aren’t recruiting. When you reach your residual income goal, the MLM company should NOT require continued recruiting in order to receive your monthly residual income checks.  If it does, RUN.  The best MLM compensation plan will allow you to make the most residual income with the smallest number of distributors.

How an MLM compensation plan is structured impacts the behavior in the field.  If there is more money being paid out for signing up new distributors, then the behavior in the field will be focused on recruiting and sponsoring.  If more money is being paid out in residual income, then the behavior in the field will be focused on sales.  You need to know this information BEFORE you join any MLM company.  If you hate recruiting, you don’t want to join an MLM company that is a “recruiting” MLM.  If you hate selling, you don’t want to join an MLM company that is focused on sales.

So, does this mean you have to love doing one or the other to achieve MLM success?  Absolutely NOT.  The bottom line is you will have to do some of BOTH with ANY MLM company, but to different degrees.  To achieve MLM success with any MLM company you need laser targeted leads and a system to train your MLM team.  You need to ATTRACT MLM leads to YOU.  You be the hunted instead of the hunter.  This will make recruiting and selling EFFORTLESS.  An MLM lead generation system is essential to your MLM success.