Attraction Marketing Slap… And Not By Google

Recently I got a good attraction marketing slap and it really made me take stock of how I’m approaching my business.

Alica Bausley and Lisa Hanfileti recently sent me a copy of their latest e-book to review, Rich Network Marketer Poor Network Marketer and after reading it, I realized that I was making a few of the mistakes that they had identified as being the primary sources of frustration and failure for network marketers using the attraction marketing model.

I wonder if you have been caught in a few of these little traps yourself?

The Death of Attraction Marketing

Lately I’ve seen a few marketers claiming that attraction marketing no longer works… too competitive and too many people are already switched on to it they’ve been saying.

With 50 million people involved in network marketing (in the US alone), I don’t think the problem is too much competition but rather people may just be choosing the wrong niche to compete in.

For quite sometime I’ve been saying that promoting your mlm products and expanding your customer base is a much easier way to go rather than going after the opportunity seekers niche (which is one of the most competitive niches going).

A while ago I created a video outlining the different ways that The Renegade System could be used to build your business and where the different target markets fit in, you can watch that by clicking on the image below.

I also created a blog post called How To Target MLM Retail Customers And Get Paid Twice and in that post I talk about the process of converting happy customers into business builders for your mlm and how this effectively allows you to get paid twice.

The Art Of Squandering Hot Leads

In Alicia and Lisa book Rich Network Marketer Poor Network Marketer they cover 3 main topics in great detail; Lead Generation, Lead Conversion, and Customer Follow Up.  One of the things that is so impressive about Alica and Lisa is the fact that they are building their business on 2-4 leads per week!

The reason they are able to do this is because their conversion rates on their sales calls are anywhere from 80% – 100% depending on the day. Is that even really possible you might ask?

One of the things that Lisa and Alicia spend a lot of time on is selecting the right target market,  having a message to market match, offering a product and services that’s a perfect fit, and only talking to people once their marketing system has brought them to the point where they are qualified.

For example, if you are going to choose the frustrated network marketers niche you have to be aware that these people already have an mlm company (which is why they are frustrated). Many of these people have invested time and money into their company and very few people would be at the point of wanting to give up that company.

Mike Dillard goes for this frustrated network marketer niche  and his conversion rates are around 5% but because he is skilled at selling his affiliate products to these people through his mailing list, he is still able to make a healthy profit on the front end (just to clarify, that 5% is of the leads that he generates through his marketing rather than the people he or his sales team speaks to on the phone, that I’m sure would be much higher).

If you have an mlm that is going to be beneficial to the prospects you attract…  something that is complementary to their existing business, then with the right positioning, you will be able to achieve a much higher conversion rate, much like Alicia and Lisa talk about… if you follow up correctly.

Examples of complementary products and services would be; telecommunications companies, educational and motivational training, marketing tools (greeting cards and post cards), internet software and technology. Basically anything that will aid the person in their marketing. Add training and guidance that will help these people succeed and you’ll have a much higher chance of these prospects doing business with you.

One of the mistakes that I have made is focusing too heavily on marketing and not spending enough time on the sales part of my business. It really doesn’t matter how good your marketing is, if you don’t get on the phone and speak with the people that you are attracting, then you will be leaving a lot of money on the table.

The Other Side Of The Coin — The Message To Market Mismatch

On the other side of the coin, it doesn’t matter how good you are at telephone prospecting and sales, if you are talking to the wrong people…  you’ll just waste your time and theirs.

This is why really having a clear understanding of your target market and having a product and service that is going to match their needs is so critical.

If you are attracting frustrated network marketers through your marketing and you are trying to build a nutritional business, you will likely attract a lot of prospects that already have a company that they are happy with (they just want to know how to market it). This means that you will probably spend your time and energy trying to help these people understand how to apply the principles of attraction marketing to their business not yours –  end result, you become a frustrated attraction marketer…

If you want to learn how to avoid this frustration, I would highly recommend reading Alicia and Lisa’s latest e-book, Rich Network Marketer Poor Network Marketer, it’s packed with excellent information on this topic.