How To Succeed In Network Marketing – Part II

by Steven Dobson · 14 comments

In Part I of How to Succeed in Network Marketing I talked about some of the things that you need to do to lay the foundation for your success in the Network Marketing Industry. The six things I discussed along with what you will learn in this article will give you more knowledge than many of the people that are struggling and failing because they have not laid that foundation.

If you ask 10 people about how to succeed in network marketing, you will probably get 10 different answers. That vast number of different answers is because you have a vast difference in the skills and knowledge of the individuals you would ask, but if you ask people who have succeeded in Network Marketing, you would get vastly different answers than you did from the first 10 people you asked but the second group would probably tell you what they did to become successful and you would probably notice an underlying theme.

Anyone can tell you to find someone successful and do what they do and you will become successful. That only works if you understand what the successful person is doing and why they are doing it, and whether or not you have the skills and knowledge to follow in the footsteps of someone successful in the Network Marketing Industry.

Before we get to how to succeed in network marketing, let’s take a look at why there is an estimated 95 to 97% failure rate in this industry. Again, if you ask 10 different people you will get 10 different answers to why there is such a high failure rate, but the two main reasons there is such a high failure rate is because people that are new to this industry do not know how to generate leads, and because they can’t generate leads and turn them into buying customers, they don’t make enough money to stay in business past their first 90 days.

When most people first get started, their sponsor tells them something like, “go home and make a list of your family, friends, co-workers, and anyone that you think would want to join you in business.” You’re then told that this is your “warm market.” What you’re not told is that none of the people on your list is a qualified lead and from your “target market.” Your target market is the people that are actually looking for a business that they can do from the comfort of their home. Think of your “warm and target markets like two different ponds where you would go fishing.

Your warm market is the pond where the fish are not biting because they are fed every day at the same time and know exactly when they will be fed and they can set their little fish watches and be there when it’s feeding time. The rest of the time they are not looking to be fed so they are taking care of other business. You throw your line in this pond and none of the fish are even nibbling.

Your target market on the other hand does not get fed every day. There is very little food in the pond to keep all the fish happy, and they are just waiting for you to throw your fishing line in with the bait on the end so they can get something to eat. You throw your fishing line in and you catch fish after fish.

Which pond would you like to fish in?

Network Marketing is very similar to fishing, but instead of throwing out fishing lines, you’re using your marketing skills to place ads where the people that are looking to buy the product or service that you are selling are looking. The ads that you place could be paid advertisements, free advertisements, article marketing, Facebook marketing, video marketing (YouTube), post card advertisements, magazine advertisements (online and offline), newspaper advertisements (both offline and online), or anywhere you can place an advertisement so that people that are looking for what you’re selling can find your offer.

Think about the advertisements that you see on television and why big corporations are placing those advertisements. They are doing so because they have to put the products and services that they are selling in front of their potential customers, and you have to do the same for your network marketing business to be successful.

Marketing is the single most important thing that you will do to succeed in Network Marketing. If you think about it you are doing two things in this industry; you are building a relationship with your leads so that they can get to know and trust you (Networking), and you’re marketing your products or services to potential customers and business associates.

Your marketing is part of a system that sorts through your leads, helps you build a relationship with your leads so that they get to know and trust you, turn those leads into lifetime customers, and eventual business partners. Your system should also allow you to train your new business partners with the skills and knowledge they need so they know how to succeed in network marketing and it’s easy for them to duplicate your success.

All successful business owners have a duplicatable system for conducting business. Take a look at the number of successful systems there are in your community. Every time you see a franchise you are looking at a successful system in action. If your system is not providing you with the knowledge and skills for you to build a successful network marketing business, you need to click on the link below so you can get plugged into a successful system that will teach you and your teammates/business partners how to succeed in Network Marketing.

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