All industries must overcome challenges to grow and network marketing is no different. Here are three of the biggest challenges professional network marketers face right now…
This is one of the biggest challenges that network marketers face. Every business owner has a contact list when they start their business, though often this is the stage when the list of untouched contacts is longest. However, many fail to convert. Why is this? Well, in part it’s due to the new business owner’s lack of experience at the outset of their business. There is a rush to tell all their contacts about the exciting new business opportunity, without a real understanding of how to present the opportunity and, more importantly, how NOT to present it. As a result, lots of warm prospects are lost in the process. This is where training and compliant, best practice guidance comes in. How many business owners practice and perfect role-playing with their uplines before they start sharing the opportunity?!
When business owners nail the first prospecting stage and they’re getting positive responses from their contacts, they can often lose focus and can get caught up in the excitement of the “Yes, I’d like to find out more” response. However, this is where business owners often drop the ball by being overly keen in their response, bombarding their prospects with too much information or chasing prospects for responses to the follow up messages they’ve sent. Enthusiasm can come across as desperation and that’s not attractive, which is why waiting until prospects have engaged with the messages is a much better approach. Contacting prospects before they’ve had a chance to look at what’s been sent will not only make them want to avoid you for fear of having to admit this, but also make them wonder why you’re pushing such a “hard sell” of this amazing opportunity. Remember, anything great requires minimal selling. Having said this, don’t forget to track who you have spoken with and ensure that, once they’re engaged with your message, you do follow up in a timely manner.
Keep processes duplicatable
Success in network marketing is in part down to the power of duplication. However, it’s increasingly difficult to train others in effective processes as business owners are generally time poor, working their business around family and/or career. Entrepreneurs are looking for smarter ways to work, which is great, and the search is on for processes that can be easily replicated and intuitive systems that support them. Simple, effective solutions are built upon well-tried processes that anyone can follow: these are the only ones that will work when it comes to building a large network marketing business. There are many new technology platforms available today that can help make running a network marketing business easier, however, many of these also require an IT degree to be able to master them and these are not the systems best suited to MLM professionals. Social media sites like Facebook and LinkedIn, though limited in addressing certain needs, are effective because they’re simple and intuitive. Business owners can, therefore, work out for themselves how to use these systems just by playing around with them, making the processes that can be set up using these platforms duplicatable and relatively easy to communicate to new team members.
It would be great to hear your experiences with the above challenges and any others you are facing today. What are the biggest challenges right now that you need solutions for?