Best Network Marketing Strategies
The "ABC" Business Model
As I continue with my Best Network Marketing Strategies series, this article doesn't discuss the attraction marketing aspect, but rather the financial aspect of your business.
the network marketing and MLM business is a fabulous industry and should be looked at as a financial asset like a CD or mutual fund that grows exponentially and pays out over time.
So what is the ABC business model?
It simply means your home business should have three overlapping parts where the network marketing business itself comes last instead of first.
Here's how it's broken down.
You need a low cost product or service to offer those who immediately opt in to your marketing funnel. The cost of this product can be $7 but no more than $50. This income will fund your advertising, business expenses and help you keep your head above water while you build your business.
This product is usually a report or small ebook but can be another kind of educational product.
Often times people quit their network marketing business because they run out of money to advertise.
(On a side note, this is never a valid excuse. Social media is dynamic today and all of your prospects are hanging out there. You've just to learn how to harness platforms like Pinterest, Instagram, Facebook, YouTube, Linked in and Blogging) It's all free.
By offering this low ticket item, you are offsetting the hard costs of running your business and at the same time, developing a relationship with your prospects. You're showing good faith, good value and it's giving your prospects a chance to see what you're up to on a more deeper level.
This low ticket product sells your Part B and/or C.
Part B: This is a medium to high cost product or service that generates cash for you in such a way it contributes to your lifestyle. Your medium ticket will be somewhere between $100 and $300 and then your high ticket will range from $1000 and upwards. Typically, this range is $1,000 – $3000.
The medium can be a training product or tool for example.
The high ticket can be your network marketing getting started package, or high end coaching services, events, things like this.
This is where your lifestyle income comes in.
Part C: This is recurring monthly income. This is done through a network marketing company where small recurring purchases are made by a substantial distribution channel (Your downline organization). This will create true walk away residual income.
Most home based business owners don't follow this plan. They lead with Part C and what happens is they spend themselves out of business.
The ABC model is everywhere if you look.
Best Network Marketing Strategies
You're Really In The Teaching Business
In Magnetic Sponsoring, Mike Dillard makes a few points to illustrate this and help you see what's really going on.
McDonald's™ is not in the hamburger business.
They are in the soda pop and fries business where the profits are made.
But you come in for the dollar menu hamburgers.
Subway™ is not in the sandwich business.
They are in the weight loss business.
Just ask Jared.
Las Vegas is not in the gambling business.
They are in the entertainment business.
You'll find inexpensive hotels and free meal coupons to intice you to get to Vegas and stay at their hote because the folks in high up places know that if they get you there, you'll gamble and spend all your money.
They sell the "fun" time.
"What happens in Vegas, stays in Vegas"… right?
They advertise everything BUT the gambling!
You'll hear about the lights, the themed hotels, the girls, the shows, the restaurants….but you don't hear about the gambling.
Think about it.
How can you relate this to your network marketing business as well as this ABC business model?
Well, just like Vegas wants you to gamble, they lead with the fun and excitement… the "experience", you lead with the "how to" be successful in business.
So you're really in the teaching business.
Your network marketing business is on the back end of all that.
You sell dreams and hopes and the "how to" for that to happen.
Your business is not relevant when people are searching for solutions to their financial and time freedom problems.
Be the solutions provider they need and have something to offer them.
Lead with your 'how to' and they'll follow you into your business.
When you can offer great value at a small price, you earn trust. Purchasers can see the quality of products you recommend and how they benefit their lives.
They are then more likely to buy again from you and spend a higher ticket for another great value product.
And so on and so forth.
Its more difficult to obtain a high ticket purchase right out the gate.
This is why you offer low ticket items, medium range tickets, high ticket products and recurring monthly programs.
Attraction Marketing, (teaching the how to) and leading with a low ticket item, introducing them to a high ticket item and offering a monthly repurchase produces results and is considered truly the best network marketing strategy for success.
To Your Success!
Debbie Turner (Pictured with Mike Dillard, author of Magnetic Sponsoring)
PS: Learn how to generate FREE leads for any network marketing business with this attraction marketing system. CLICK HERE.
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