Attraction Marketing And Why What You’ve Been Taught About Marketing Is All Wrong!
Written by infomarketer on March 30th, 2009
There are critical keys to success in today’s environment for product-based home businesses and online network marketing businesses. 95% or more of these businesses will fail in their first few years, many in a matter of months, but it doesn’t have to be that way.
Small business owners and network marketers start out full of hope, eager to be their own boss, and with grand visions of wealth and a carefree lifestyle. Within months or a few years the cold hard reality sets in and those dreams are shattered.
With the right knowledge and skills you can improve your odds and compete successfully in today’s market. And you can have more fun growing your business this way which is a win-win.
One of the most important keys to your success is getting enough leads and then converting those leads into customers or business partners. The rules for prospecting have changed and old methods of building a business are no longer as effective as they once were. The good news is there are new and arguably better ways to build a business.
Let’s discuss what’s wrong with traditional methods. Why aren’t they working anymore? In the case of network marketing, networkers are taught to pounce on their warm market, aka friends and family members. For some, this may work for a short-time. A few good friends and family members may feel obligated to buy your product. But if you have been in multiple businesses, your friends and family members may not be so kind the second and third time around. They may see you and want to run the other way. This is not a recipe for success. And it’s not a fun way to build a business.
So next you are taught to buy expensive leads from a broker and make cold calls to people that have no idea who you are. Many of the leads will be bogus names and numbers. Many won’t be home when you call so you’ll have to keep track and call back. Some will yell at you. Oh yeah, and you’ll pay a lot for high quality targeted leads, the only ones that have the potential to convert to customers. And even then you may not make enough to break even. Only the lead brokers get rich.
There are several problems with old prospecting methods. The rejection rate is very high. Secondly, most people have a fear of rejection. Even if people get out of their comfort zone and pick up the telephone to make calls, they usually give up after they have been yelled at and called a scum bag a few times. Who wouldn’t? Building your business should be fun, not dreaded.
So you’ve got a success rate that is very, very low, and a cost of leads that is very high. Even if you convert a few prospects into customers, you can still lose money. Does this method duplicate. Not successfully. Is this a recipe for a successful business? Not for most people.
Attraction marketing came about to alleviate the pain and agony of traditional marketing. Look for future articles on what attraction marketing is and how it can help you grow your business online.
To receive the information series “Top 15 Ways To Grow Your Business Online“, send an email to kw-online-mktg@aweb.com.
If you want to learn more from Karen on growing your business online visit her blog at http://www.KineticWealth.com/blog.
Karen Sielski is a passionate online wealth builder, using her 20+ years in the high-tech industry to help small businesses, entrepreneurs, and online network marketers successfully grow their businesses online. Karen can be reached via email at karen@kineticwealth.com
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