MLM prospecting is a hotly debated topic among network marketers. What is the best way to prospect? Is old-school, belly-to-belly, three-foot-rule style prospecting the way to go or is new-school, attraction marketing and lead generation more effective for building a large organization quickly?
Let's Break MLM Prospecting Down
Prospecting is literally "the search for precious metals or stones, a physical labor, involving traversing, panning, sifting and looking for signs of mineralization." MLM Prospecting is very similar; it is the search for precious people - you're literally traversing, panning, sifting and looking for signs of a good business partner.
Prospecting is literally "the search for precious metals or stones, a physical labor, involving traversing, panning, sifting and looking for signs of mineralization." MLM Prospecting is very similar; it is the search for precious people - you're literally traversing, panning, sifting and looking for signs of a good business partner.
There are lots of ways to go about your MLM prospecting, just as there were during the gold rush. The vast majority of prospectors headed out with a pick and shovel and a gold pan and went to work. These small-scale operations were at times successful - an educated guess and a little luck could definitely pay off. For the most part though, success was limited. There's only so much ground you can cover on your own with a pick and shovel.
Think of this method as your old-school MLM prospecting method. You head out, equipped with business cards, pamphlets and CDs, determined to share your opportunity with anyone who comes within three feet and has a heart beat. You approach people, hand out your pamphlets, pitch your business, and sift for possible business partners or product users, and of the 30 people you talk to that day, three sign up. Great success right?! Hmmm... let's look a little closer.
The Problem with Old-School MLM Prospecting
First of all, I was being generous with the numbers - most marketers can't speak with anywhere near 30 people a day. Most accountability calls with top marketers only require three looks a day, and even that is a stretch for most people. I also gave a sign up ratio of 1 in 10... that's extremely high for our industry and it's estimated that 4% industry-wide is closer to accurate.
First of all, I was being generous with the numbers - most marketers can't speak with anywhere near 30 people a day. Most accountability calls with top marketers only require three looks a day, and even that is a stretch for most people. I also gave a sign up ratio of 1 in 10... that's extremely high for our industry and it's estimated that 4% industry-wide is closer to accurate.
At that rate, if you prospect every day for 30 days, you would get 3.6 new sign ups - we'll round up and say 4. Still, one a week isn't bad. But then why aren't more people successful with this form of MLM prospecting?
Rejection
It's sad but true - people don't like being "sold." Just think about your own reaction when a telemarketer calls, or someone shows up to "lock in your energy costs." You don't like it do you? And 9 times out of ten you'll do whatever you have to do to avoid the situation all together. And when you can't you either hang up, or listen politely until you can make an excuse to get back to what you were doing before the uninvited interruption. And all the while there is a feeling of tension building inside of you... "What are they trying to sell me now?"
It's sad but true - people don't like being "sold." Just think about your own reaction when a telemarketer calls, or someone shows up to "lock in your energy costs." You don't like it do you? And 9 times out of ten you'll do whatever you have to do to avoid the situation all together. And when you can't you either hang up, or listen politely until you can make an excuse to get back to what you were doing before the uninvited interruption. And all the while there is a feeling of tension building inside of you... "What are they trying to sell me now?"
You don't like being pitched and neither does anyone else. And the truth is, not everyone is as polite as you and I are about saying no. I don't care how thick your skin is, getting hung up on and doors slammed in your face sucks... I know, I've had it done to me... lots.
Does Old School MLM Prospecting Work?
Apparently it does, for about 3% of people. I'm not going to tell you not to use these methods - there are lots of very successful marketers who swear by it. But if this is going to be your strategy I highly recommend growing a thick skin - you're going to need it.
Apparently it does, for about 3% of people. I'm not going to tell you not to use these methods - there are lots of very successful marketers who swear by it. But if this is going to be your strategy I highly recommend growing a thick skin - you're going to need it.
New School MLM Prospecting - What's the Difference?
Back to our gold prospecting analogy - let's pretend that instead of picks, shovels and a gold pan you head out with a metal detector and a magnetic surveying device. You'd do a lot less digging initially, but you'd also save yourself a lot of time digging in the wrong places. Now let's say you bring in an excavator - you get a lot more digging done, a lot more quickly right? It's still all you - it's just you on steroids.
Back to our gold prospecting analogy - let's pretend that instead of picks, shovels and a gold pan you head out with a metal detector and a magnetic surveying device. You'd do a lot less digging initially, but you'd also save yourself a lot of time digging in the wrong places. Now let's say you bring in an excavator - you get a lot more digging done, a lot more quickly right? It's still all you - it's just you on steroids.
That's what attraction marketing, lead generation and automated email campaigns do for your MLM prospecting. It can still all be done by one person, you can just leverage technologically advanced tools to make your prospecting task easier, faster, more effective.
The New-School Edge: ZERO REJECTION
What is it that makes new-school MLM prospecting so attractive? A complete lack of rejection. Seriously. If you do this right, the only people you'll ever be in touch with are people who have specifically requested information from you. The people who don't want what you have to offer will either not request information in the first place, or they will unsubscribe from your list. But never will they question why you're calling them... they know who you are, and what you do long before the initial conversation.
What is it that makes new-school MLM prospecting so attractive? A complete lack of rejection. Seriously. If you do this right, the only people you'll ever be in touch with are people who have specifically requested information from you. The people who don't want what you have to offer will either not request information in the first place, or they will unsubscribe from your list. But never will they question why you're calling them... they know who you are, and what you do long before the initial conversation.
New School MLM Prospecting by the Numbers
Using the same 4% sign up rate, let's look at how the numbers stack up. A well-crafted attraction marketing system can bring in unlimited leads - literally, unlimited. But for our purposes, let's be conservative and say 10 leads per day. Over 30 days that amounts to 300 leads and translates to 12 sign ups. Over a 1-year period that equates to 144 new distributors in your business, as opposed to old-school methods that come in at 48 new sign ups per year.
Using the same 4% sign up rate, let's look at how the numbers stack up. A well-crafted attraction marketing system can bring in unlimited leads - literally, unlimited. But for our purposes, let's be conservative and say 10 leads per day. Over 30 days that amounts to 300 leads and translates to 12 sign ups. Over a 1-year period that equates to 144 new distributors in your business, as opposed to old-school methods that come in at 48 new sign ups per year.
So Who Wins? Old-School or New-School MLM Prospecting? In my humble opinion, old-school marketing just doesn't make sense, any more than heading off into the mountains with a pick and a gold pan. That's not to say it doesn't work, just that as technology evolves there are faster, easier ways of accomplishing the same outcome.
Learning how to prospect either way involves a learning curve - you just have to decide where you want to spend your time. Are you going to learn how to prospect like its 1848 or are you going to harness the power of the technology that is right at your fingertips?
Dawn Marrs is a home business owner, attraction marketing coach and author of DawnMarrs.com.
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