As every successful network marketer will tell you, there’s a lot that goes into growing an MLM company. Hard work and tenacity are essential, but so is strategy. Starting a business without first outlining a network marketing plan is like feeling around in the dark for a light switch. It takes a while, there’s a lot of stumbling, but eventually you hear the click of the switch and you’re able to see what’s ahead. Building a business with the lights already on is a much more effective method of getting started in MLM.
What sort of things should you consider before setting off on your network marketing journey? Below is a list of 6 important questions to ask yourself in order to better understand the mission, the goals, and the potential customers behind your business.
The 6 Essential Questions for Constructing a Network Marketing Plan
What is your mission? Outline your mission statement, write it down and make it accessible so you can be reminded of it every day. This is why you’re doing what you’re doing, and what it is you want to offer to the world. It should be short and to the point, but it should be more than just “I want to make money”. Think of why you chose the product and the company you chose, and what sort of community you want to build.
Who are your customers and what do they value? Identify your target market so you can streamline your efforts and make this market the central focus of your attention. What do they need or want? What would it take for your company to satisfy their needs? Always offer the customer something that is useful to them, keep their lives and their values in the spotlight of your marketing efforts.
What are your expectations? Set concrete and realistic expectations before you get started with your network marketing business and write them down so you can track your progress. Be specific, it will help you gauge your success as you go.
What is your “word of mouth” plan? The MLM industry is unique because it relies solely on its customers and distributors to promote the product, and this is usually done through testimonial, or word of mouth. How are you going to spread the word about your business? Are you going to have a strong online presence, market via social media, YouTube, Twitter, and other internet outlets? What sort of advertising budget do you have to work with? Outline a strong advertising strategy and research how to put it to use so you’re not feeling around in the dark after you’ve already started.
What is your recruiting plan for after you’ve exhausted the friends/family market? Eventually, you’re going to run out of friends and family to market to. Outline some ideas for what to do when this happens, and if you’re worried you don’t have the confidence to speak to strangers about your company, now is the time to learn how. Don’t wait too long to attend relevant industry seminars, take public speaking or sales courses, watch videos that offer advice, or do some research on how to bone up on your sales skills. Be ready and enthusiastic about approaching a new market.
How are you going to address negative feedback? Unfortunately, it happens all the time in network marketing. A friend of a friend of your prospect said that MLM is a pyramid scheme and they shouldn’t get involved. Instead of ignoring these concerns, exhibit confidence in your company by addressing them with a specific position. If you’re prepared to handle this in a professional manner, you’re less likely to let it be a major obstacle in growing your business, and being honest and upfront will help you build trust with your prospects. Even if the potential customer says no, you wouldn’t want them to continue spreading the bad word about the product you’ve worked so passionately to promote.
Go with the Flow
No matter what, your MLM success is going to be a learning process. Having a network marketing plan is a great way to focus your efforts on results and to track your progress, but it doesn’t have to be definitive. Revise your strategies to find the right fit for you, and set new goals for yourself if the original ones weren’t applicable or attainable. Be willing to adjust your network marketing plan to allow wiggle room for trial and error. Let yourself make mistakes, give yourself some room to stumble. But always get back up again.