Yesterday a network marketing colleague of mine asked me if warm or cold marketing was better? Anyone who knows me knows that I’m a firm believer in the warm market. I believe it makes for the most duplicable system in the industry. That being said there are a couple of assumptions there.
1) The person has a list of contacts.
2) If they don’t someone can show them how to grow their list.
3) A coach to show them what to do with their warm market.
4) A system that fits
Of these 4 things I believe the size of the persons contact list and ability to add to it will determine if a person can survive in the industry with warm marketing.
If a person comes and they only have a list of 10 people, they are at a huge disadvantage to the person who comes with a list of at least 100 people. Here’s why.
Person A calls 5 people on his list. All 5 tell him no to both the opportunity and to the products or services. Person A has now gone through HALF…..50% of his list. Holy cow, this guy is already about 5 phone calls from being out of the business! Worse his odds have dropped more because the scarcity mentality has probably set in for this prospect because he knows he is almost out of people to call. Hard to have success when you are dealing with a high level of self doubt.
Person B calls 5 people, but has a list of 100. No sweat when he is told “no” on the opportunity or products. Why because he is operating from a position of abundance. Knowing he still has 95% percent of his list still in tact he can operate in confidence knowing there is at least one business partner somewhere on the list.
See the difference?
Next I will discuss ways to grow your warm market list and what to do if you REALLY don’t have any warm market.
hint: There really is a lot of money in the cold!!
Until the next time,