Can Anyone Make Money at Network Marketing?

The Usual Suspects

Call it what you will – Network Marketing, Affiliate Marketing, Referral Marketing, Pyramid Selling…. Well maybe not the last one. Although really all of them have a tarnished image and yet they all persist. I am told only the top 2-3% make real money and yet there are millions of people in the business so that is a lot of people making money.

What are they doing that you are not?

The top guys have a goal, and they have a plan, and they have a timeline. So in simple terms they are going to make $X by doing Y before the end of Z.

Its not that simple though, because we have all heard this kind of stuff and yet we aren’t all in the top 2-3% making money.

What does a Goal look like? I want to get 50 people into both the programs I support within 6 months. I started November 21  so lets say May 20 is my deadline

Those are direct referrals – at the moment I have 31 in one program with 426 team members in total so I am assuming 50 will get me close to 1000 team members which might be another Goal.

My Goal is a little different; I am more interested in how many people I can help than how much money I make but lets assume 50 direct referrals brings a team of 1000 people and at the moment I make 20 HI$ a day from 425 – I can reasonably expect to double that to 40 hi$ a day by the time I reach a team size of 1000.

The question then is what a Hi$ is worth but I have covered that in another article. At the moment they trade at about 27Cents so 365X40X0.27=$3942 a year but if they 10X or more I will be super happy.

Getting Back on Track

How am I going to achieve this goal? Not everyone I invite is going to join and I already invited a lot of people. Hi doesn’t make this easy but the other program I promote shows me how many people clicked my affiliate link at the moment that stands at 263 clicks to get 14 direct referrals – so if I want 50 I need to invite 3.6 times as many people to join – or 947 people

The average person knows about 200 people. If you don’t believe me, ask a funeral director or a wedding planner.  So, on the face of it I did well to reach 263 people already – but for those who haven’t realized it – some of those have clicked twice, or more.

4 Weddings and a funeral Cast

When I worked in life insurance, we told our new agents to make a list as follows

  • Family – close and cousins, aunts, uncles etc.
  • People you went to school with
  • People You work with
  • People you are in sports clubs or do activities with
  • People you see at church or temple
  • People you know in the community like the postman, librarian, school crossing guard, bus driver
  • People you know online

You get the gist – you know more people than you think you know and most people can get to around 200 people like this

Guess what?

Make the list invite all those people and you may get 10-20 people sign up for your program. Bear in mind that I promote free programs not paid ones. I got 18 from my first pass with Hi and a lot less with the 2nd program.

Once you burn that list it gets a little soul destroying. Who on earth do you speak to next?

Well, in the insurance world, we told our new agents to ask everybody – when they pitched them, whether they knew anybody who might be interested.

Now imagine if everyone you knew gave you just one name. That won’t happen, some people will give you 10 names and some won’t give you any. But I bet you can get another 200 names like that. I’ve seen people put a line in their email signature purely asking for the referral

That may get you another 10-20 sign ups but remember in this new group of 200 people you are not their friend or family. You are just a friend of their friend or family. . . BUT if you ask for who they know that might be interested some of them will give you a list of names, and some of them won’t give you any.

That is strategy number 1

Is there a short cut?

Of course there is. You need to find a bigger list of people than the 200 people that you probably know; but you couldn’t think of without the list above.

You can build this list online for example by building an email list, but there is another resource you probably haven’t thought of yet. Your phone book. Have a look and see how many people are in there. Mine is a mess. I have lots of duplicates and old entries. However, I was blown away when I looked recently and found 2500 entries there. Even assuming 80% are rubbish that gives me a list of 400 people that I can call

I hate calling people

I really do but it is the best way to build relationships and a phone conversation is 2nd only to a meeting when it comes to closing a sale. I would rank contact in terms of effectiveness as follows

  1. Meeting
  2. Zoom or similar video call
  3. Phone
  4. Phone message, or WhatsApp, or similar
  5. Email

The point being if you want to maximize the number of people that convert from the people you know meet them, Zoom them, or Call them.

What about Social Media

I have 30,000 connections on LinkedIn and I have several thousand Facebook connections, I have a few hundred on Twitter and am growing a following on Medium. Trying to get that audience to do something as simple as click on a link is getting harder and harder all the time. It’s getting hard to generate clicks due the fact everyone is trying to do the same thing. It is like email spam 10 years ago, the noise is incredible.

If you plan to go this route to audience then try to get to your contacts in the direct messages. From there, you can try to get them on a zoom or on a call if the turn out to be in your town try to get a coffee with them.

You must have more short cuts than that Brad?

I have an income stream from Medium now from writing about this stuff and yet nobody is clicking links and signing up for programs . Although I signed up for Hi because I read an article on Medium that triggered the right response; so it is possible.

The best thing that you can do is sign someone up and then show them how to sign someone up and then repeat it, and make sure they repeat it.

The best way to do that at scale is with something like Telegram, or WhatsApp. You can build a community that can ask each other questions, and share links while you are sleeping or working your day job. You can run incentives and contests, and celebrate each others successes as well as welcoming new members and showing them how to recruit new members.

Whatsapp and Social logos

What are you really saying?

Remember above I said that it will take me around 1000 contacts to get 50 direct referrals? You can see how much work is involved in finding that 50 but then what if they don’t do anything? You never know who your superstars will be, but everyone can make money if the can find one or two referrals. What we need is systems to make sure that the people they recruit, recruit more people.

So the biggest short cut isn’t a short cut at all

It is a path to success though.

Spend time building community and teaching other about what you do. Find the videos or the articles that can teach your team how to grow without you. If you put in the effort to really help your team learn and grow, you will see your numbers explode.

Sponsored

Related Articles

Responses