Saturation in Network Marketing

Your Listening to the Street Smart Wealth Podcast, show 93

 

Have you ever felt like - oh no, I’ve joined this fabulous network marketing or direct sales company, but it’s saturated….everyone already is using the products, heard of it or building the business. uhhh. nooooo, let’s chat about this a bit….

 

Welcome to the show! 

 

I am often asked about the issue of saturation, both about a company, its products and on Social Media. And, a real key to this is the Social Media piece.

I am going to share some thoughts on this topic and always love answering your questions.

 

IF you want even more coaching and insights on how to deal with these types of issues, consider joining my coaching community! We cover everything A-Z on Network Marketing and A-Z on Social Media, and how to set up an online marketing system so YOU become the hunted and not the hunter! In other words, people come to YOU, pre-sold on network marketing and pre-sold on a business. Learn more -

 

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Is Saturation a problem in Network Marketing and Social Media?

 

To answer this, I'm going to share a few stories and analogies.

 

The whole issue of saturation is a complete myth. It just is non existent.

 

Think of household brand names you know right now. And, think of more household name network marketing and direct sales companies and products you know of. Look around your home.

 

How many products from any companies that come to mind do you see?

 

When I shop at my local Target; Barnes and Noble; Pier 1 shopping center, there are 4 Starbucks within that oneintersection. There is one in the Target store; one in Barnes and Noble; a stand alone in the food court area of the shopping center, and across the street, where the Marshall's and JoAnn's stores are, there is another stand alone Starbucks store. It's located in Redlands, California, with a population of under 75,000 people.

 

A few years back, that well known household name, Starbucks  closed quite a few stores that weren't doing so well, and yet all 4 of these stores in my small intersection of the world remain open. And, each one hits a different demographic and "timing" for its customers.

Fresno, California, with a population of around 500,000 had 7 top earning representatives from my first company, back in the 90s.

Now, compare that to the Internet. We know that over 1.5 billion people are on Facebook. There are nearly 2 billion internet users worldwide.

Remember that success in sponsoring into your business is based on a few key components:

Timing of the prospect. I could not have been less interested in Network Marketing when it was first presented to me. Fast forward 15 months; home with a new baby and I want to make sure I never have to go back to work outside of my home. My timing was perfect at that moment and I joined.

You and the relationship you have with the prospect. People join people. Far too few people remember that online. They think that Social Media is about "spamming" everyone with their opportunity; throwing mud against the wall to see what sticks.

The opportunity you offer – make sure you have something solid, both in products and compensation plan; support and training, etc.

There are some other factors sometimes, but these sum up the bulk of what's important.

There are many ways to build a solid business and the internet is just one tool in your tool box. Everyone should start with at least letting their warm market know about what they are doing. You don't have to ask them to join or buy, just let them know and ask them to keep you in mind.

From there, be aware of people and situation as you are out and about and if the timing is right, have an idea of what you will say and give to someone you meet so you can contact them later and see if they might be a viable candidate.

Offline networking groups and meet-ups can be a great place to connect with people; develop a relationship and then see, over time, if there might be a business fit together.

Now, we move to the internet and Social Media. Again, a great tool and a MASSIVE ocean of potential prospects.

The power in Social Media is that you have the ability to leverage your time and efforts in a way that "stays" out there. What I mean is this: if you attend the Tuesday business meeting and invite a few guests and no one comes, that time is lost to you forever in terms of showing your business to someone or making a connection.

However, if you write a valuable article about the skills needed for network marketing; or how to give an effective business overview; that content is viewable online from the time it is posted until removed. A viable candidate for your business can find it at any time; become interested in you and click to learn more about your business. This prospect may not have been looking for a business 6 months ago, but time and circumstances have changed and now it's a different ball game.

The secret to success in sponsoring online is in developing your "brand or message"; building relationships with others where your brand becomes obvious; and seeing where those relationships take you over time. It involves consistency and commitment to showing up and interacting with your target audience.

Join groups and forums where you can associate with like-minded people. "Attend" regularly, just like you would you local Chamber of Commerce meeting. Always be asking "what can I contribute here?" Get to know people and be genuinely interested.

Over time, you'll begin to attract your right audience and sponsor some into your business.

Good luck and see you out there!

 

 

 

ACTION STEPS

 

Expand your contacts on Social Media so that you are not just friends with people already in your company!

 

Do your own survey - ask friends and acquaintances, co-workers - have you ever heard of XYZ company? And, what do you know about them?

 

Develop your own way of handling this when someone says they have heard of the company - Wow, that’s fantastic, so have you experienced the products already then?

 

Remember that every day - new people turn 18, graduate college, become a parent, get downsized and any number of things that will take them to the point of looking for a business.

 

 

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Show notes http://JackieUlmer.com/093 

 

 

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Until next time - remember this - Hesitation Never Cashed a Check!

 

 

Good luck in your business!