Tips for Marketing Your MLM Business

by Chuck
(MD)

What are the best tips for marketing your MLM business? There are lots of different strategies on “how” to market your business. But, there are very few people out there telling you “who” you should focus your time and money marketing your message to.

In this short article, I want to share an idea I learned from the book “Guerrilla Multilevel Marketing” by Jay Conrad Levinson, James Dillehay and Marcella Vonn Harting. In their book, I learned a simple, yet effect strategy about “who” you should market your business too, and how much of your time, money and effort should be dedicated to each group.

In a nutshell:

• 60% For Current Customers: This includes your downline, your retail customers, and former customers. The easiest way to market to this group of people is to publish a monthly newsletter and/or use an auto-responder to keep in touch with everyone on a regular basis.

• 30% For Qualified Prospects: In the network marketing industry, you have two target prospects. First and foremost, other network marketers are your primary target market, since they already believe in the industry. And they are opportunity buyers, not opportunity seekers. Your second target market is people who would use your products. No, this isn’t everyone. It is people who would want your product, use it, and have the money to buy it.

• 10% Everyone Else: You should spend a small amount of time and money marketing to everyone else. I call this ‘searching for gold’. You’re marketing to the mass media, looking to find people that are in your target market. Typically, this venue will produce the smallest return rate, but it’s still worth doing.

This advice probably pertains to any business owner. The greatest source of income in most businesses is to sell new products and services to existing customers, rather than go out and try to find new customers. You should also focus on increasing the transaction amount and lifetime value of each customer. This will help you increase your bottom line significantly.

In conclusion, you should allocate 60% of your marketing budget to current customers, 30% to qualified prospects, and 10% to everyone else. If you can do that consistently and be persistent, you will achieve success in your network marketing business.