The majority of people in network marketing continue to search for successful strategies as they find traditional methods being taught are much too hard.
So why are we content on teaching strategies that have a known high failure rate? Are these people not cut out for Network Marketing, or is there something systemically wrong with our strategies? When I first got started with network marketing I thought it was a bit odd that I was taught to approach all of my friends and family, or better known as our ‘warm market’. Though I did it because I thought it made sense for these are people who know and trust me, so why not.
Like many in the industry, I was shocked at the resistance I was faced with. But I was determined to make the business work and figure out successful strategies that I could pass on to my down line. In my mind to have a successful system means to have something in place that others could employ with as little troubles as possible.
So I looked at what we were being asked to do. The first thing was to approach all the people that we know. Well simply put, most people who I knew weren’t interested in what I had to say. Imagine if you ran a Pizza store and you were to call up people that you know to ask if they would like to purchase a pizza tonight. Is that what you call a successful strategy? Then why do we do it in our Network Marketing Businesses?
After three years in the industry I have finally learned something powerful. A successful strategy would include both warm market and cold market strategies.
1) Warm Market. Understand that there may only be a handful of people who you know right now who would be interested in building a home based business. These people can prove to be some of your best business partners.
The downfall with your warm market is that you only know so many people, and it is painfully slow to build on that number using traditional methods.
2) Cold Market. There are an infinite number of people in the cold market (people who you do not currently know or have a relationship with). When you learn successful strategies on how to market to people who are in other towns, cities, states, or even countries – now you have opened the doors of opportunity.
Technology now allows us to communicate with thousands of people with the click of the button. Sure, approach the people who you would like to work with but realize the massive potential when you look to the cold market. Possibilities are endless when you develop successful strategies that utilize technologies to communicate with others and build relationships.