Is network marketing a lie? Does it really work? It so, then why is the
attrition rate in network marketing so high? What causes it?
Associates of network marketing have been told once too many times that
duplicating one's upline is the key to building a strong and successful
MLM business. These are what many new MLMers of traditional network
marketing have been told:
1. Duplicate your upline
2. Everyone within arms length of you is a prospect
3. Anyone can do this and it's not sales but product sharing
4. Just join and you'll have your business built for you
But these same MLMers are struggling and complaint that their business
is not making any headway. They put in their effort, pick up names from
any available sources, they do all the necessary cold calling, the
warming up, tried to find the hot button of the prospects but yet they
could not make a sale. They went back to their upline for advise, and
out of this, perhaps the one most irritating statement of all that they
get from their upline is probably "Your belief levels aren't strong
enough!"
So what went wrong? I had been through that once too many times. I have
seen and joined a couple of network marketing companies and my results
were like many of them - disappointing!
Hit And Miss Prospecting
Many newcomers to MLM start their first day at business by sharing
their product with people they know – friends and relatives. And then
only to find themselves drowned in a sea of coldwater and told that
they have been scammed, network marketing does not work, the product
doesn't sell or a simple not interested, etc. And then see all the
friends and relations suddenly disappearing from their life, as if they
never existed.
This method of promoting or prospecting friends, relatives, or even
total strangers, is known as hit and miss prospecting. This means that
they will find someone, a friend, relative or even total stranger, talk
and tried to keep promoting the product/service to that someone, and
then if he doesn't show any interest, they move on to another. This way
of prospecting is not businesslike and often they got themselves
labeled as a serial pest.
Worse of all is that it will only take a few rejections for many a
newcomer to network marketing to throw in the towel – declaring it hard
and stressful.
This is the cause of network marketing's huge attrition rate. This
excessive fall out rate has not only affected the individual but
affected the industry leaving it with a bad image.
I know because this is what I was taught, tried and felt, although not
to the point of being labeled as serial pest but the rejections had
affected me in many ways. But why is it that I am still in network
marketing, promoting it? It's because I see the potential in it and if
it hasn't worked how can it be around for so many decades?
The main reason, as I was analyzing my lack of expected results boils down to Leads, targeted Leads.
No Leads No go
The main problem many distributors face is creating a steady flow of
prospects, and they have to be targeted. Without constant supply of
leads in the business it doesn't matter how much belief one has in
ourself and the system, your business will simply stagnate and wither
away. For how can we grow without expansion.
Attraction Marketing
Before the Internet age, distributors find their leads through
companies that sell them, the Yellowpages, through friends or
associates. But the coming of the Internet age all this has changed.
With its far reaching power, it has provided us a vehicle for
attracting targeted prospects into one network marketing business.
There is no longer to call them up to warm them up, find out their hot
button and then steer them towards joining us.
With the Internet we can do all the warming up, building relationship,
pushing their hot buttons and finally getting them to join us
themselves. With the Internet we can automate all these to get them
curious, get them to call us and then eventually to want to join us
willingly on their own.
The Internet allows us to target the people you want to do business
with. And this is done by attracting interested parties online by
pre-selling them with their expectations, their dreams before they
listen to our primary business offers. This is what we call the
Attraction Marketing.
Using attraction marketing techniques online to draw targeted prospects or leads into your funnel has never been easier.
Using attraction marketing techniques online to draw targeted prospects
or leads into your funnel has never been easier. However, the problem
with many network marketers are that they don't know how to promote and
market online.