How Attraction Marketing Works for Network Marketing
How Attraction Marketing Works for Network Marketing
Are you in the network marketing business? If so, you may have heard a little about attraction marketing, a term popularized by Mike Dillard through his magnetic sponsoring program and methodology. But what exactly is attraction marketing and how does it work?
The idea behind magnetic sponsoring is to build your downline by attracting prospects to you rather than chasing after them. Conventional network marketing strategies usually have you doing cold calls, marketing to cold leads, convincing others to come to a seminar, and other similar strategies.
Attraction Marketing Brings Prospects to You
Rather than trying to sell to your prospects, you start from the angle of providing them value. You can give value by giving them a free report, educating prospects on the network marketing business, giving them tools they can use, as well as giving them information on how to succeed.
With that said, you should be exchanging value for the prospect's contact information. Set up a simple one page site that offers something of value for their name and email. You'll be surprised by how many people sign to your list. Make sure you have a way to collect leads from all your websites and the pages from your web 2.0 pages, blogs, bio sites, and main company site.
The Money Is in the List and the Follow Up
Once you've got the prospects into your email list, you have the ability to follow up with them and start making profits. It's important to note that you want to develop a strong relationship with your readers. It is an important balance--promotion and providing value.
Make sure you give them quality information such as advice on personal improvement, Internet marketing, promotion, and education on how network marketing works. By doing this, you're taking on a role as a leader and helping your prospects in the confusing world of network marketing.
After you've built a relationship, you can recommend some of the network marketing opportunities that you're involved with and you'll be able to sponsor many people. Just remember that you need to constantly follow up with good information and value.
What is a Funded Proposal and How Can It Help?
In magnetic sponsoring, Mike Dillard recommends a strategy called a funded proposal. The reality is that getting traffic to your websites and pages will take money and time. In order to monetize your advertising expenses, he recommends that you sell some form of training to offset your costs.
In many cases, you will have extra money to grow your business and increase your advertising. What's more, by creating your own product, you position yourself as an expert in the market and build a strong reputation for yourself.
The product does not have to be something complicated. It can be a simple product that walks beginners through network marketing sold for $20-$50. As long as you put quality information into your products, you should not worry whether it's innovative or groundbreaking.
By combining these strategies and using your backend to promote other products and your network marketing opportunities, you'll be able to successfully create a passive income for yourself. You can clearly see why attraction marketing is far better than the conventional recruiting tactics that are commonly employed in network marketing.
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