Anyone who’s experienced in network marketing knows that the lifeblood of a successful business means generating massive amounts of qualified leads. The top 1% of all the most successful network marketers spend about 95% of their time creating leads in order to build their downline teams and only 5% of the time selling product. Leveraging hundreds of other people’s time when they go out and sell is far more profitable than spending 40 hours a week promoting products yourself.
The ability to generate leads is the most difficult aspect of network marketing to most newcomers. Once they have exhausted the “friends and family” plan they have pretty much no clue about where to look for a constant supply of leads.
There are a number of different ways to get leads:
Cheap, Bulk Leads
Companies will only be too happy to sell you a bunch of leads that can cost as little as one cent each. This is definitely a case of getting what you pay for because none of these leads will be qualified, and many will end up being completely worthless because most phone numbers or e-mail addresses don’t work. Although they may be sold to you as qualified names, all looking for work from home jobs, many of those people are not in the least bit interested or capable of handling the business opportunity offered by network marketing.
The only good thing that can be said about cheap, bulk leads is that they are good practice. If you want to be a real masochist buy the bulk leads that include phone numbers. You can practice your telephone manner and your pitch to your heart’s content. After being rejected, cussed out, insulted and screamed at 100 times, being told “no” on a few occasions thereafter will be a walk in the park – your skin will have gotten a lot thicker!
50 Cent+ Leads
The idea that paying a little more for leads will bring you better quality leads just doesn’t work in practice unless you’re very lucky. If you can’t find a company that hasn’t recycled these leads a dozen times, like the cheap leads above, then you should leave them alone. Remember many leads are obtained by offering something free, and by the time you get these leads, the person has probably forgotten all about it.
Buying leads is like sitting in front of three different slot machines – one takes dimes, one takes quarters and the other takes a dollar. The idea in most people’s minds would be that by playing on the dollar slot machine the returns are going to be bigger. Anybody who has come back from Las Vegas broke (and that’s most people) will tell you that’s illogical. It’s the same when paying $1-$5 for a lead and blowing $100-$500 a couple of times a week for expensive leads – you too will probably end up broke! If you paid five dollars a lead, bought 100 leads and one turns out good, you’ve just spent $500 on one lead!
If you get these leads from a good source and you’re experienced, your conversion rate will probably be a lot higher than that but you’ll have to be good on the phone and focus at least 3 to 4 hours every day on building your business.
As a newcomer if you are going to buy leads make sure you have the wherewithal to be able to call each and every one of those leads. If you’re lucky and these more expensive leads have not been recycled there is a chance you may be the first person to contact some of the leads because many people who purchase bulk leads give up before they reach the end.
Purchasing “Exclusive” Leads
Now these may sound like a better alternative and will probably cost just as much as the budget busters above. These will possibly be network marketing leads gathered specifically for the network marketing industry, but don’t expect these people to be ready to sign on the dotted line. Again if you only get a couple of leads out of 100 that you paid $500 for – it’s an expensive exercise.
Co-Operative Generated Leads
These leads cost roughly what the exclusive and budget buster leads cost, but the nice thing is you have joined in with a number of other network marketers to purchase a lead generation page. Most operate on a basis where each member of the co-op produces a personal video, and your video will run for a set amount of time on the lead generation page. If you going to spend approximately $2 to $5 for a lead, then this is the best option as this method works well. These opportunities are rather difficult to find and you will have to wait until your video goes into rotation but if you can get in with some big-time network marketers grab the opportunity.
Off Line Leads
All network marketing leads were obtained off-line before the Internet age obviously, but then everybody realized the potential of online marketing and most people left off-line aspect of lead generation behind.
If you’re a people person then there is still a huge potential out there with only minimum competition. Be prepared to be treated like a bit of an oddity, but I’ve met a few off-line marketers who do incredibly well. Because there is so little competition in newspaper or magazines your ad will certainly stand out and can be a big start for your lead funnel. Off-line marketing is ideal for all the people who have been in sales and still maintain contact with many of their colleagues, and can be an excellent way to generate leads for work-at- home mothers and students.
The way to go these days if you understand search engine optimization and how to effectively participate on blogs and within social media is online. That doesn’t mean generating qualified leads online happens without any work. Finding the best system to follow should be a priority. Once you find a system that works for you then leads you generate yourself online can be incredibly cheap and plentiful.
There is one caveat though – make sure you’re completely up to snuff with your company’s compliance rules. These vary according to the product you’re selling and with each individual network marketing company.