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November 24, 2010

Mastering the Process of Lead Generation

Lead generation is the best way to open opportunities and mine for information in multi-level marketing or network marketing. Lead generation is a selective process because MLM is not for everyone. You as owner, will need to uncover and determine which individuals to target and work with.

What it entails

Lead generation is a time consuming process and in some cases, quite costly. You will need to make a lot of phone calls, follow-ups, meetings, presentations, emails and even pay for advertising campaigns to promote your products or services to prospective customers or recruits.

Working to pump up your lead requires that you have patience, self-confidence, initiative and an undaunted spirit. MLM is not for the weak of heart and if you think you have what it takes, then this just might be the break that you need.

How to start

First, look at the demographics to target the right prospects. It is important that you consider the right kind of people to sell your products to, so you don’t waste time and effort.

The best way to do this is to look at the quality of your product and ask yourself, Who will need it best? Who will buy it at this price? Who can sell it more convincingly?

What kind of individuals buy a competing product and why?

MLM lead generation is only successful if you can target and convince the right people.

Keep a list

In MLM, it is imperative that you keep a record of who you deal with. Take notes about your sources and narrow your list then, qualify your leads. Once you have met with these people, you will be able to sense if they are interested and willing to work with you.

Start with your nearest and dearest

Begin coverage in the area nearest you your family, friends, acquaintances and colleagues. These are the best places to start generating leads because with these individuals, you have the highest comfort factor with. You are less likely to be nervous or apprehensive with people you know or are familiar with, compared to complete strangers.

It is only when this resource is completely exhausted that you should begin to look for new candidates to recruit into your network.

Turn to lead batching

Also called distributor gathering, this process involves gathering leads through advertising. You can be sure that those who respond to your advertising campaign are those who are interested in your product. Otherwise, they would not have attended your training in the first place.

Through lead batching, you can then invite your recruits to build their networks. As the owner, you can now strengthen the number and quality of recruits who work under you.

Don’t burn bridges

Not every person who declines your offer is a dead end. Use that person’s contacts to get leads. There’s a huge chance that that person has family members or friends who could be interested in your product. You’ll never know if you try, so don’t be shy about asking.

Plant only where it will grow

Time is money and it is true with MLM, so you need to spend it well. Just because you see a potential in one person doesn’t mean you should try to turn him around even when he himself is not in the least bit interested. He could be the best salesman in the country, but if he doesn’t believe in your product, you’ll only be wasting your time and effort on an individual who will do nothing to help your business.

MLM lead generation is a process. It is not quick, there are no short cuts and it does take time. But if you’re armed with the proper methods of lead generation and if you perform correctly, you can expect good leads that can actually participate to help you grow your business better.

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