Your list is critically important to your business. A fortune 500 company would refer to their list as their database and would value it as their most valuable asset.
All social media platforms built their real value on collecting peoples information. So in your business, your contact list has extreme value and is the x-factor for your network marketing success.
In my situation I had friends I grew up with, friends I went to school with, friends I attended university with, friends I played sports with, then people I personal trained, people that I did business with, and while building a fitness business I met many entrepreneurs that I was networking with.
My list was strong, big and most importantly my list had true meaningful relationship value. My entire life was built on strong relationships where I can pick up the phone to people from 20 years ago, and we will have a great conversation purely because I always provided value.
Without a list, you don't have a business.
How you manage your list will be the factor which decides whether you will succeed or fail. If you want to succeed in network marketing, pay attention to these 7 elements of list building and apply the principles to ensure the growth of your business...
You want to format your list into categories. You should have a boiling hot market, a warm market, a lukewarm market, a cold market, and an icy cold market.
In each of these categories, I like to group them into sections like "open-minded", "successful", "entrepreneurial", "customers", and "referrers". For example, it might be that "Pete" is a great mate who has been personal training me for 5 years. He fits into the "warm market", is an "open-minded" business person with a good network and is a great "referrer".
The reason for the detail is essential for the way you approach each person. You see, it is not a one size fits all approach to your list. Therefore, take the time to physically create your list ON PAPER, not in your head. Then set up your categories and then put them into sections to assist you on how you are going to approach different people.
Boiling Hot Market
Your boiling hot market can allow you to launch your business fast. These are the people who are your nearest and dearest. The inner circle people who you would have on your wedding list.
Nine times out of 10 they are the type of people who you can just say, “Hey Pete, I have just launched a new side business promoting youth enhancement products. I am looking for 10 to 12 customers to try the products for the next 90 days to provide me with some feedback. Will you be one of them?”.
Your warm market is people you know and have some form of personal relationship with. It could be a friend you went to school with 30 years ago, or the sales rep that turns up on a weekly basis to drop off their products to your work. If you have spoken to them, you can consider them in your warm market.
A lukewarm market is its own category because of social media. With all the different platforms now you have lots of people on your list that you have a different relationship with. For example, you may have 5000 friends on FaceBook. These lukewarm friends follow you, and you follow them. You do know them through the stories they share, and they also know you through the stories you share. You may comment on their posts supporting them, and they are commenting on your post. However, your relationship is purely online.
You aim is to build your lukewarm audience, provide consistent quality content and build a relationship with your audience until they turn into a tribe. Then move these tribe members from an online connection to an online and offline relationship and into your warm market.