When attempting to build an MLM business, and to put an MLM marketing system in place to accomplish that, many marketers unfortunately fall into many of the same traps. In particular, there are several common mistakes that people make when trying to build an MLM business, and each of these can kill the ability of your business to prosper.
So when you are building your own MLM marketing system, be sure to avoid these four cardinal mistakes:
Mistake #1: Limiting Your Lead Pool: If you are like the majority of people who join an MLM business, the very first thing your upline teaches you to do is to tap into your “warm market” to get leads. They will tell you all you have to do is make your ‘List of 100,’ and you will be set in terms of putting together a massive downline. There are several problems with this, and reasons why this should not be the cornerstone of anyone’s MLM marketing system.
Putting aside the practical issues with this being your one and only lead generation source (in particular that it NO fun to have to bug your friends and family, and to have to twist people’s arms), this simply is not an effective strategy. For one, no matter how many people you know, your warm market list can only be so big… and once you’ve gone through it then you’ve dried up your entire lead pool!
Why limit your lead pool this severely? Anyone who has built a large downline has done so because they have a constant stream of new leads available to them (and, ideally, a constant stream of targeted leads). Lead abundance is a big key to any successful MLM marketing system.
Mistake #2: Going For The “Opportunity Seekers”: Another major mistake when creating your MLM marketing system, is to search out who I call the “opportunity seekers” when you are targeting whom to recruit into your business. Who are the “opportunity seekers?” They are the people who are looking to push that “Easy Button” like you see on the television commercials, and magically — without having to do virtually any work — become rich.
They are the ones who are buying into the hype that MLM businesses will grow themselves. Just get three people into the business, and the rest of your organization will grow itself. No good business is built like that — and no good MLM marketing system wants anything to do with this group of “leads.”
Mistake #3: Leading With The Opportunity: This is another mistake that is unfortunately taught to many new MLM business owners by their uplines. Many times your upline will tell you to to sell the business opportunity when you market to and speak with your leads. They will even give you “their” MLM marketing system or plan showing you exactly how to lead with the opportunity. I put that word in quotation marks because although many uplines will teach people to do this, very few — if any — did it themselves when they built their own businesses.
You never want to lead with the business opportunity! You want to lead with your product or, more specifically, with the SOLUTION that your product(s) offers. You want to position yourself as the expert and the one who has the answers that people are looking for relative to your product.
If you are marketing a weight loss product, then you don’t want to lead with the compensation plan your company offers. You want to lead with the fact that you have a solution for people who struggle with losing weight. You want to lead with INFORMATION about weight loss. That is the very foundation of any good MLM marketing system.
Mistake #4: Failing To Build A Brand: As sort of an extension of mistake #3, perhaps the biggest mistake people make in creating an MLM marketing system is not having an actual system in their system. What I mean by that is that people will put all their energy into getting leads, but will not have first created a squeeze page or other mechanism to capture that lead’s information. Or, people will work on traffic, but then will not have created a content-rich eBook or other giveaway product to get those people to take action when they are there. Or, people will have a means to collect people’s information, but will not prepare any follow-up emails or other communication to use afterwards.
You need to create a well thought out system and a process through which you take each and every lead. Be sure to create that smooth process and MLM marketing system BEFORE you begin to work on getting leads. It will pay off for you big time.