Cold Lead/Prospect Network Marketing Formula

There are many “formulas” for network marketing recruiting, most of which are derived from the experience of the person who is offering the formula.  This formula is no different!  It is derived from both personal experience and as a composite of what has been learned from others.

This formula can be applied to either cold or warm market, but it’s really intended for cold market prospecting.  The reasons will become obvious in the video.

Basic Concepts in the Cold Prospect Network Marketing Formula

The concepts behind the formula are these:

• You need to minimize variation in  your approach to network marketing prospects.  One way to do this is to know your purpose and seek a desired outcome.  Avoid using scripts verbatim.  You can use a script as a guideline, but always proceed from a basis of a consistent purpose and desired outcome.  Generally your purpose should be to qualify the person as a viable prospect, gather information, provide a tool to them, initiate a break in communication, and set the follow up appointment.  The outcome is simple: they either become a prospect or not: more on this in the video.
• You have to determine whether you are leading with the product or the opportunity.  The choice is most often driven by personal experience, style, and comfort level.  Many people are looking for ways to make money, so leading with the opportunity and supporting the viability of that opportunity with the quality, attributes, and benefits of the product would make sense.  The opposite is true if the person is obviously product-driven.
• Your network marketing company opportunity is a constant, and you should always use the same information when communicating the opportunity.  Make changes when you see the need to do so, but don’t change from one discussion to the next.  Find what works and stick with it, or find what doesn’t work and change it.
• The cold market lead/prospect is a variable, or an unknown.  Until you open the dialog you don’t know what you have.  For that reason, you need to be consistent in your approach and with the information about your network marketing opportunity.
• The prospect should be the only variable in the discussion.  The outcome will be what it is.  You are not emotionally tied to the outcome.  It will be a yes, no, or a maybe – and that’s just fine.  The person will be a prospect or not.

Practice Your Approach to Network Marketing Recruiting

When you are calling on “cold market” leads, you don’t know them, so you have to develop a short, concise, and consistent approach to everyone you call.  There are the critical elements your approach to your leads:

• Address them by their first name as if you acquainted with them
• Tell them who you are and where you’re calling from – don’t tell them what company you represent
• Get to the point of your call: You are calling to follow-up on their interest in a home-based business, income opportunity, or other product or service your offer
• As them if they keep their options open at all to many any money outside of what they currently do
• The ask questions about them – stay focused on them because what your want to is build rapport with the
• Rapport building leads to the lead telling you what areas of dissatisfaction they have in their life – if you can’t get to this point, you haven’t developed rapport, so ask more questions
• Once you have reached either: a. having identified areas of dissatisfaction, or b. a conclusion that the lead isn’t interested, get off the phone
• For the interested lead, who is now a prospect because you now know their areas of dissatisfaction, provide them with information from your company – then schedule a follow-up call to go over that information
• Break In Communication: BIC – this means get off the phone!  The reason you do this is so you don’t say too much get tangled up with the prospect

At this point you either have a prospect or you’re on your way to the next lead.  Your objective is to develop enough rapport to find out what they want, need, and desire.  You are not concerned about closing the signup at this point.  You need to know what you’re working with first.

So, that is the basic cold lead/prospect network marketing formula.  I hope you find it useful and can synthesize your own unique approach to your cold market.

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Here’s to fun, profit, and lifestyle in your network marketing business!

All the best,

Dana