Lead Generation Process Part 4: Lead Conversion
This is installment of the series explaining the four parts or the lead generation process. To review the first 3 parts of the process go here:{+++}
Today’s topic, Lead Conversion, is very important for the success of your business because if you don’t get this all the other parts will be in vain.
For years in my business I had the same nagging question: "Where do you find people who are already looking to start a home based business?"
If you use the tools outlined in the previous parts of the series the answer should now be: "in your inbox" or "on my list".
Now all you have to do is select your ideal candidates from the bunch, but how?
You have to know that success has a specific, unchanging formula. All you have to do is study the outcome of success and reverse engineer it just like we discussed last week in lead seduction with the pearl farmers.
There are specific things you ideal candidates must know before they can have any level of success in your business. YOU must know what your potential prospect already knows and fill in the gaps and deficiencies in order to create a win-win situation.
Let me explain.
Success in network marketing requires you prospect knows What Network Marketing is, Why it works, How it works, What the pitfalls are, What to realistically expect to experience in business including the down sides like the required investment of time and money.
You best candidates will be entrepreneurial minded and mostly will have had some level of success in another business or career before.
This will be about 10% of the people in the entire human population and therefore your list of potential prospects.
The failure rate in network marketing and any business is because most people are ill prepared before they even start. Most people (90%)are employee minded and attempt their business without the proper mindset.
The entrepreneurs/marketers/innovators who are actively seeking a home based business are your ideal candidates and No One Else!
You just have to identify who they are through the Lead Conversion process.
If you have someone on your list regardless of if they call you or you call them the conversation should always be consultative in nature. Your objective is to establish how close this potential prospect to being ready.
Get rid of the idea that everyone who has the money or time or even worse "NEEDS" to earn more money is ready to take on a home based business.
Need proof?
Just look at how well that’s been working for you so far. Look at the leaders on your team, heck, the leaders in your company. Their mindset is what they all have in common.
The good news is mindset is a learned skill, The bad news is…it takes time
Assuming the other parts of your automated lead generation funnel is doing what is suppose to do, time won’t be a factor.
The system will:
- Attract invested, interested and curious candidates
- Educate them so that they understand some basic concepts for background.
- Qualify them, so that you don’t waste your time — or theirs.
- Bond with them, so that there’s an emotional connection and growing trust.
- Present your opportunity to them for an informed, business decision on their part.
- Resolve any questions or concerns they have so that they’re ready to say "yes".
And do it all hours or the day allowing your potential prospect to entire your pipeline according to their stage of mindset development.
Your only job is to work with those who are ready right now. All while understanding that everyone’s "right now" is different.
Like the oysters which produce pearls, not all are ready on the same day. You just have to know how to recognize what "right now" looks like. This can be summed up by this decree…
"I, (prospects name), need a larger income but not just more money…I need Income that is commission as well as residual and that I control by being in business for myself! I understand network marketing is the Only business model that can provide type of leverage income I desire. As a matter of fact, I want to be on your team, represent your company and have you as my mentor. I am mentally, financially and emotional equipped to join you NOW! "
Use this as your check list when ever you are communicating with your prospects. If a potential prospects convey this statement (in their own words, of course) they are NOT ready!
Lead selection, just as all parts of the lead generation process is a two way street. It’s an agreement to move forward in a mutually beneficial business relationship.
If your sponsor them before they are ready, you are setting them up for failure and you will suffer from a massive attrition (drop out) rate.
Attract the best,
Malika Duke
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