Prospects to Purchasers - The MLM Way
Prospects to Purchasers - The MLM Way by ERIK GIFFORD
Do you own a network marketing business, either in real physical life or via the Internet? If so, how do you go about converting those precious prospects in to profitable purchasers, whilst maintaining some degree of consistency?
You see, most people in the MLM industry won't even know what that question means. They will understand how important it is to make sales, push products, and so on. But when it comes down to defining exactly what it is that makes or breaks a network marketing business, the answer they give will no doubt be as vague as it is thoughtless.
Therefore, in this article, we will explore the exact definition and terminology surrounding "prospects". I will attempt to give you a better understanding of the ways in which you can apply promotional ideas to this specific group of people.
As always, we begin with a clear cut definition of what we are talking about. Interestingly in this case, the term "prospect" can take on a number of different meanings. It could relate to the people who are already engaged in business activities with you - ie. someone who has bought a product from you before.
Alternatively, it could be someone coming to you for help. Another idea is that a prospect is someone who has been identified as a possible purchaser from their past activities or current objectives.
If you don't mind being a bit open-minded on the matter, a prospect could actually be anyone around you.
That didn't help much at all did it? I basically just implied that everyone and anyone is a "prospect". Well, don't get too frustrated with me just yet. Indeed, all of these people are prospective prospects, but the real defining attribute of this specific group is that they are all potentially able to be converted in to buyers.
There is the key point that sets prospects aside from everyone else. Applying this idea in reverse allows us to see that I was correct in the second paragraph when I said that "anyone around you" could be one. That's because anyone, whether it be friends and family, old work colleagues, teachers, students, etc. may possibly be "willing and able" to analyse, consider, and eventually purchase the product you have on offer.
This leaves us with the idea of marketing and promotion. Having defined this specific group of people as those who are "able and willing", our advertising and base selling efforts should be swung heavily towards these people. What do I mean? Well, let's follow through an example. Your network marketing business is based on the Internet, selling and allowing people to resell luxury Christmas food packs throughout the year, with home delivery at Christmas time.
The prospects for this business include those people who are able to afford the Christmas package, those who will be in the country in December, anyone who has a residential address and credit card, etc. Therefore, your marketing will be specifically related to people fitting in to each of these categories.
Do you see what I'm saying? There is no point in trying to sell this product to people on average or low incomes, as they won't even be able to afford the pack. Additionally, those with no residential address will probably have issues with the shipping, so again this is a bit of a time waster. By doing this type of analysis, you are able to nail down the exact target audience that you want to market to, and ignore the expense of the rest.
That may sound harsh, but when it comes down to it, your network marketing business or MLM is the most important aspect that needs to be looked after here. Hence, your efforts should be focused on making it succeed, instead of pleasing each and every person out there.
A prospect is someone who is willing to purchase from you.Erik Gifford is a network marketing coach and trainer.Please call 004722520239 for free network marketing training and visit http://www.networkmarketing-guidance.com
Article Source: http://articles.directorygold.com
For more articles on Network Marketing-MLM visit the DirectoryGold Article Directory
For links to sites on Network Marketing and MLM visit the DirectoryGold Web Directory
Do you own a network marketing business, either in real physical life or via the Internet? If so, how do you go about converting those precious prospects in to profitable purchasers, whilst maintaining some degree of consistency?
You see, most people in the MLM industry won't even know what that question means. They will understand how important it is to make sales, push products, and so on. But when it comes down to defining exactly what it is that makes or breaks a network marketing business, the answer they give will no doubt be as vague as it is thoughtless.
Therefore, in this article, we will explore the exact definition and terminology surrounding "prospects". I will attempt to give you a better understanding of the ways in which you can apply promotional ideas to this specific group of people.
As always, we begin with a clear cut definition of what we are talking about. Interestingly in this case, the term "prospect" can take on a number of different meanings. It could relate to the people who are already engaged in business activities with you - ie. someone who has bought a product from you before.
Alternatively, it could be someone coming to you for help. Another idea is that a prospect is someone who has been identified as a possible purchaser from their past activities or current objectives.
If you don't mind being a bit open-minded on the matter, a prospect could actually be anyone around you.
That didn't help much at all did it? I basically just implied that everyone and anyone is a "prospect". Well, don't get too frustrated with me just yet. Indeed, all of these people are prospective prospects, but the real defining attribute of this specific group is that they are all potentially able to be converted in to buyers.
There is the key point that sets prospects aside from everyone else. Applying this idea in reverse allows us to see that I was correct in the second paragraph when I said that "anyone around you" could be one. That's because anyone, whether it be friends and family, old work colleagues, teachers, students, etc. may possibly be "willing and able" to analyse, consider, and eventually purchase the product you have on offer.
This leaves us with the idea of marketing and promotion. Having defined this specific group of people as those who are "able and willing", our advertising and base selling efforts should be swung heavily towards these people. What do I mean? Well, let's follow through an example. Your network marketing business is based on the Internet, selling and allowing people to resell luxury Christmas food packs throughout the year, with home delivery at Christmas time.
The prospects for this business include those people who are able to afford the Christmas package, those who will be in the country in December, anyone who has a residential address and credit card, etc. Therefore, your marketing will be specifically related to people fitting in to each of these categories.
Do you see what I'm saying? There is no point in trying to sell this product to people on average or low incomes, as they won't even be able to afford the pack. Additionally, those with no residential address will probably have issues with the shipping, so again this is a bit of a time waster. By doing this type of analysis, you are able to nail down the exact target audience that you want to market to, and ignore the expense of the rest.
That may sound harsh, but when it comes down to it, your network marketing business or MLM is the most important aspect that needs to be looked after here. Hence, your efforts should be focused on making it succeed, instead of pleasing each and every person out there.
A prospect is someone who is willing to purchase from you.Erik Gifford is a network marketing coach and trainer.Please call 004722520239 for free network marketing training and visit http://www.networkmarketing-guidance.com
Article Source: http://articles.directorygold.com
For more articles on Network Marketing-MLM visit the DirectoryGold Article Directory
For links to sites on Network Marketing and MLM visit the DirectoryGold Web Directory
Labels: MLM, Network Marketing
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