Hi Welcome to Tip 7
Today I want to give you some practical advice for finding Your Best Network Marketing Leads for your particular promotion.
One problem I see is that a large number of marketers move from one lead source to the next trying to find the best leads for their business.
When I ask them what would make a set of leads good, most come up with criteria like that they should be fresh, that they should be responsive or that they should have valid data – in other words no wrong numbers or email addresses.
But let me tell you that these criteria while not unimportant, are certainly not the most important thing to look for when trying to find the best leads for your promotion.
I can tell you that there are some sources that prove more profitable than others but once you dig past the obvious surface criteria of targeting the only real way to tell is by testing.
And that’s where the problem really comes in. While there are plenty of people that will tell you leads are awesome or that leads absolutely suck.
They base this reasoning on some subjective opinion rather than real market testing and ROI data.
This is similar to if I were to take extra insulin. It would be very unhealthy. However for a diabetic, not having supplemental insulin can be fatal.
What’s harmful for me is vital for another and vice versa.
And so it is in marketing… as we discussed in tip 6, there are 3 main factors to marketing success and leads are only one of them.
So how can you find the best source of leads for your promotion?
Start with some research into reputable lead suppliers and vendors. Pay attention to how long they have been in business, what they say about their leads and their reputation.
Whether or not the supplier has a guarantee and what it is can also be a factor.
Pick 3 or 4 suppliers that you feel comfortable in testing and buy a set of leads from each you can afford.
Your objective here is to test your offer with each set of leads at more or less the same time, so this is going require an effective way to track your efforts.
A lot of people get the idea that they should track how many disconnected numbers they have, how many answering machines, how many rude people, and so forth.
Now this may be helpful in some way, but in reality the one piece of information that matters more than any other is how many leads you recruit in the end.
Why? Because that’s ultimately how you get paid and it lets you calculate your ROI – return on investment.
You see another mistake people often make is in looking only at how many people they recruited… or the raw results.
For example if you had 2 separate lists of 100 prospects and you recruited 1 from list A and 3 from list B you might assume list B was the best list for you.
However, you wouldn’t really know without factoring in the cost of each list and how much each new distributor is worth to you.
All things being equal, lets say each distributor is worth an even ONE HUNDRED DOLLARS and that you paid 50 CENTS a lead for list A and TEN DOLLARS a lead for list B.
So in this example, list A earned you $100 for one distributor and cost you $50 for the list – giving you a profit of $50.
List B on the other hand earned you $300 for 3 distributors yet cost you $1000 for the list, actually giving you a loss of $700!
You see why it’s dangerous to simply make assumptions when it comes to marketing? Not having the right information can sometimes be more dangerous than not having any information at all… though I’m not advocating that by any means!
But a little common sense and logic go a long way.
One more thing…
What if your testing showed that none of your sample lists were clear winners?
Well remember that marketing triangle? Chances are that one of the other two points have issues.
Unless you totally misunderstood who your target market really is, it would be unlikely that out of 3 or 4 lists one didn’t perform.
Which means the next place to look is to your approach or toward the offer itself.
I can tell you that 4 times out of 5 when there are issues in marketing, we found that changing the approach provided the greatest increase in results.
Good luck, and thanks for watching.
Published with permission from my dear old friend Andre Vatke (President LeadersClub)