Warm Market List Burnout in Network Marketing, Now What?
Chances are when you joined your network marketing company, you were asked to make a list. More importantly, a warm market list. And, you probably made one while excited and still over the moon about having a business. Let’s be honest — you had your hands on a product or service that was going to change your life forever. And, this may have been true.
However, this is rarely where the story ends.
The story usually goes on to tell about how many people said no, that this was a scam and was never going to work. After all, these people were those you expected would support you. These were your friends. This was your family.
Most people ‘don’t like’ network marketers — positioning should have been the focal point.
Warm Market List was a Bust
Believe us when we tell you that you are not alone. Most network marketers and direct sales consultants start in this very same place. Hoping, expecting and in some cases needing this business to work. And, it crashes. Well, sort of crashes — most people blow through their warm market list within the first week or two.
Back to the bust.
You called everyone on that list, did everything you were told to do and here you are with maybe a few quick starts to show for it but very little else to show for it. Right?
It is totally OK.
Three Types of Network Marketing Markets
Hot Market List
Your hot market is an intimidating group to talk to. Especially, when you are just starting out. These are the people who love you and know you quite well. But they know you so well, that they won’t respect your position at all in Network Marketing. The strategies that are most effective with your hot market are ones that usually start with ‘I just started a business and don’t worry I’m not going to recruit or sell you but I would love your feedback‘.
No pressure. Straight to the point. And besides, everyone loves to give an opinion.
Warm Market List
Your warm market is defined as a network of potential customers that you have had some previous contact or relationship with. This list may also include family, friends, co-workers, church members, club or group members, and even your neighbors. The warm market is often described as the sweet spot for network marketers.
They are people that know you, or are getting to know you — and may have some level of underlying trust there.
They are ‘close’ enough to you that opening up a conversation shouldn’t be awkward. These are great places to re-engage a previous relationship. However, always be genuine and authentic. Approaching this market is where most people fail unfortunately, and the same place that too often any existing relationship is also strained.
How you approach this market — is pivotal.
And, most people struggle here. In fact, you may have already gone through your warm market list.
The good news is, even if you have there’s a window for you to go back and ‘fix’ it.
Cold Market List
Whether it’s a call, letter, email, sample issue of your publication, or friend request — this one is where you are making or sending something to someone you have never interacted with and they do not know who you are.
In some instances, cold market approaches can be easier because there is no history with the prospect. You almost ‘expect’ rejection to some degree, so the number of people is easier to cycle through. However, we are in a relationship business — so cycling through people like numbers instead of people isn’t always effective either.
How to Revisit the Warm Market
This section is specifically for those who have already ‘gone’ through the list. This includes people you have previously spoken to about the business — and the same people who more than likely, told you no. There are a variety of reasons people say no — but it is more than likely your delivery prompted the no (sorry!!) You see, people have the greatest of intentions but, we get carried away in our excitement.
We say too much.
Might even say too little.
Regardless of what happened — it is never too late to go back. In our opinion, these strategies can be used within a week or two even of blowing it, and up to years later.
First and foremost, you cannot be attached to the outcome.
Whatever that might be.
The best place to start is here — ‘Dani, I know I spoke with you last month about this new business I started and the truth is, I went about it all wrong. I was excited, and definitely got carried away.’
Be honest — you screwed up, own that.
Your warm market will appreciate your honesty. In fact, they are likely to appreciate it so much to have a laugh about it with you and have a real look. Remember you have a relationship of some form with this person. Go back to that. You were friends, colleagues, moms, dads, etc. long before this business.
And, what is often overlooked here is that, you probably know this persons pain points, you likely have the reasons this business is perfect for them — but you were too busy selling them to consider the solutions to their problems.
Four Things to Remember with your Warm Market
- Do not trick them into looking at a presentation, video, meeting, etc. There isn’t anyone that likes to feel tricked or bamboozled.
- Begging them? Absolutely not. This only makes you look desperate — not to mention it is likely the person you are speaking to, won’t want to behave like that!
- Guilt is a bad thing! If there is a place that you have to guilt, force or convince someone — just because they cave, doesn’t mean they are going to work that business with you.
- Don’t lie to them. Don’t tell them it’s going to be super easy or that they aren’t going to have to put any work into it or position it as get rich quick.
Final Thoughts on the Infamous Warm Market List
Lastly, you warm market list can start with something as simple as your Facebook Friends List. Open up a conversation — a genuine one. Set a goal of say, 10 new conversations daily.
There are a few ways to help you keep track and one of the favorites we hear more and more about are, birthdays. Facebook will always let you know who’s celebrating their big day. Make a it a priority to add to your routine, every day.
Obviously, this number will change daily but use this as an opportunity to check this person out.
Send them a voice message wishing them a ‘Happy Birthday!’. Take a moment to check out their profile, see what they’ve been up to. That way, you have a point of reference when they message you back to say thank you. You see, this is why the voice message feature through messenger is GREAT!
It sets you apart, people will remember that.
Following this method too can help jog your memory on the last time you spoke with this person, help those moments of ‘oh my gosh I forgot about them!, etc. This will help you open back up a conversation, visit a new one or keep that friends list fresh.
We would love to hear how you approach or revisit your warm market list — what’s worked (and what hasn’t!) Drop us a comment below — look forward to hearing from you.
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