Last Updated on February 12, 2022 by Matt Zavadil
Prospecting in network marketing.
It’s the lifeblood of business.
Without prospects, your business will stagnate and die.
In this article, I’ll teach you powerful tips and techniques for finding high-quality prospects for your MLM business.
The first step is to understand what prospecting is and isn’t.
Many people think that prospecting means harassing their friends and family members with sales pitches.
Not the case at all!
Prospecting is about finding people already interested in what you have to offer and getting them on board.
What is Network Marketing Industry Prospecting?
Prospecting is a way to find MLM leads who are interested in what you have to offer.
When promoting a network marketing company, it’s the process of finding people who want your products or business opportunity.
Many MLM companies offer tools and training for prospecting, but this article will teach you powerful techniques that work regardless of which company or product line you’re promoting.
Why Prospecting is Vital in MLM?
Prospecting is vital for all businesses… not just those in the network marketing industry.
It’s the best way to grow an MLM business quickly and effectively.
Here are three top reasons why:
- It keeps your pipeline full with fresh blood (new leads)
- Recruits keep things exciting by providing fresh energy and enthusiasm
- Recruits help you build a bigger, stronger downline
- More MLM leads mean new customers
2 Types of Prospects You Should Target for Network Marketing Business
In direct sales, there are two types of people:
- Those who use the products
- Those who join the business opportunity
In other words, they are product customers or distributors (also known as reps).
Ideally, all new leads should be interested in both options … but in reality that doesn’t always happen.
Most MLM companies allow distributors/reps to earn commissions on retail sales and team-building activities…
…so targeting people using only one aspect leaves money on the table.
The One Type of MLM Lead to Focus On
If you have to choose between the two, I would say it’s better to focus on people interested in the products.
The reason for this is simple: It’s much easier to sell a product than a business opportunity.
Show them how your products can help them solve their problems and meet their needs…
If you turn prospects into product lovers, they’ll become more excited about using the opportunity side to gain financial freedom.
From there, watch your network marketing business explode with new network marketers on your team.
The Different Methods of MLM Prospecting
MLM prospecting can be done in person with a warm market. Or, you can go online and open up to the whole world. Below are some of the more popular methods for finding and attracting qualified leads.
Warm Market: Word Of Mouth Marketing and a family members and friends prospect list.
Cold Market: Newspaper ads, flyers, cold calling, and direct mailers.
Internet MLM Prospecting:
- Social media marketing like Facebook ads, posts, and videos
- YouTube videos on your MLM company products or opportunity
- Blogging to get found on search engines
- Discussion forums related to MLM
Effective Prospecting Tips
Now that you understand what prospecting is and why it’s so important, let’s take a look at some powerful tips for making your efforts more successful.
Timing: Prospect when you have the most energy and when people are most likely to be interested in what you’re offering.
Location: Find prospects where they congregate (online or offline).
Attitude: Be positive and focused on helping others instead of selling them something.
Approach: Talk to people one-on-one whenever possible; avoid using hard-sell tactics.
Presentation: Have a well-prepared presentation ready to show interested leads.
Closing Techniques: Use closed-ended questions to get people to commit to taking a closer look at what you have to offer.
Follow Up: Stay in touch with prospects after they’ve shown interest, and continue providing value even if they don’t end up joining your business.
How to Overcome Objections from Potential Customers
Prospects may raise objections for a variety of reasons:
- They don’t want to commit at this time.
- They’re not interested in the business opportunity or products you offer.
- They have concerns about network marketing (e.g., pyramid schemes and scams).
The list could go on, but it all boils down to one thing:
You haven’t managed to convince them that your MLM company is worth taking a closer look at.
A good way to handle objections is with questions:
Ask prospects why they are raising their objections…
…and then provide solutions based on their answers.
If people are worried about joining an MLM scam, tell them how your company has been around for years and is legitimate.
If they’re not sure about the products, explain how they can help them solve their problems.
The most important thing to do is listen.
Are they more interested in something that can help their financial future? Or, is it more about what your product can do?
Closing Techniques for Converting Prospects Into Customers
Once you’ve addressed all of their objections and they’re still interested in learning more, it’s time to close the deal by using one of these techniques:
The assumptive close: You assume that the prospect will join your business based on what you’ve told them so far.
The hard close: This approach uses a lot of pressure to get people to make a decision right away.
The closing question: This technique simply asks the prospect if they want to become a customer or not.
How to Follow Up with Prospects
Once you’ve managed to get prospects interested in your MLM company, you must keep in touch with them by following up.
This can be done via email, phone calls, text messages, or any other method of communication. The main thing is that the prospect feels like they’re getting personal attention and value from you.
Sample Scripts for Different Situations
Here are a couple of scripts I’ve used within the network marketing profession:
Hi (name), this is (your name). The reason I’m calling you is to see if you’d be interested in solutions that could help (relate it to the person’s problems). For example, (give an example of how your MLM company has helped someone else). Would this be something you’d like to learn more about?
Hey (name), it’s been a while since we talked… …I just wanted to make sure you had all the information I sent you about our company and see if there were any questions I could answer for you.
Visit my MLM scripts guide for more.
Network Marketing Prospecting FAQs
You may still have quite a few additional questions about prospecting for customers and other network marketers to join your opportunity.
How do I start prospecting in network marketing?
The first thing to do is make a list of friends, family members, and associates who might be interested in your MLM company. In addition, look for people online who are searching for the solutions your product solves. Attend networking events and conferences.
Where can I prospect for MLM?
There are lots of places you can find MLM leads. While a lot of prospecting is done online these days, there are also many offline opportunities available as well such as:
- Going to networking events and conferences
- Talking with friends and family members
- Asking for referrals from people you know
- Talking with strangers at the gym or other places you go regularly
What is the fastest way to succeed in MLM?
There’s no one-size-fits-all answer to this question. However, following the basic principles of direct sales will give you a good foundation for success:
- Building a large downline with people who are committed to success
- Educating yourself and your team on how to market and sell products and services
- Providing value to your customers and team members
- Being a leader and role model for your business
Is MLM a pyramid scheme?
No. A pyramid scheme is an illegal business structure in which people are promised large profits for recruiting others into the program. Direct sales is a legal, legitimate business opportunity in which participants get paid for their sales as well as a commission on their downline sales.
How do you do online MLM prospecting?
You can talk to people personally on social media, build a blog, and/or run paid ads.
Which platform is best for MLM?
Most network marketers use Facebook, Instagram, and YouTube as their main platforms. However, there are many other social media sites you can use to market your MLM business such as Pinterest, Twitter, Snapchat, and others.
What are the best tools to prospect with?
A smartphone, high-speed Internet connection, and a computer are some of the basic tools. In addition, you may want to have an email autoresponder system such as Aweber or GetResponse. You might even use a service like Leadpages to build an MLM funnel.
What are some additional MLM prospecting tips?
Talk to people who need your solution. Don’t try to convince uninterested people to join your opportunity if you know they’re not interested in MLM. You’ll simply waste their time and your time.
How do I get unlimited MLM leads?
The best way to get unlimited leads is to build an online marketing funnel. This is a system where you attract people to your offer and then convert them into customers or team members. You can learn more about online marketing funnels in this article.
What should I say when prospecting?
This will vary depending on the situation, but some basic things you might say include:
- “I found this company and I think you might be interested. Here’s why…”
- “What do you do for a living? What are your goals?”
- “I’m looking for people who are serious about making a change in their life.”
- “Have you ever thought about starting your own business?”
- “This is something I’m passionate about. Would you like to learn more?”
How do I close a network marketer?
The best way is to ask them directly if they’re ready to join. You can also offer a free consultation or presentation. If they’re not ready, ask them if they’d like to be put on your email list so you can follow up with them in the future.
How do I invite more people in multi-level marketing?
The best way to invite people is by talking with them and asking questions. You want to find out what their needs are so you can help solve problems for them. The more prospects you talk with, the better your chances will be of making a sale or signing up someone new in your business opportunity.
Final Thoughts Prospecting for Your Network Marketing Company
As you can see, there’s a lot to think about when it comes to prospecting network marketing.
But if you take the time to learn and apply the techniques discussed in this article, you’ll be well on your way to building a successful business.