Every classic textbook on marketing will teach you about four P’s of marketing – Product, Place, Pricing, and Promotion. But in this post I will introduce not four, but seven P’s of network marketing that that you’ll be able to use in your MLM business.
1. Positioning;
It’s quite different from the classic marketing process, isn’t it? Well, let’s briefly talk about each one of the seven P’s.
Now, how should you position yourself, so that your prospects could look at you and say, “This is the guy/gal I’d like to join to build my network marketing business with”? Ask yourself and answer the following questions: What do I want to be famous for among my prospects? How can my prospects benefit from what I know? What do I want them to remember me as? What is my unique talent that will help people improve their lives? Your answers will help you understand how to position yourself in front of your prospects.
Note, I put “Places” in plural, because network marketing is a network-building business. You have to be in many places at the same time to lay a rock-solid foundation for your success in network marketing. In the physical world it’s impossible. But, on the web, you can be present in multiple places at a time 24/7. And it’s powerful.
Since we’re talking about building a network marketing business online, you can’t afford to be present only on your website, or only on Facebook, or only on Twitter, etc. You have to expand your online presence as much as you can.
You have to keep the first P in mind – Positioning. Being in multiple places at a time will also improve your positioning, because in order to position yourself somehow, you need Places to do it at. Consider a specific Place of your presence as a stage or podium from which you talk to your target audience.
If you don’t know how to define your Prospect, sing up for my free email training. I’ll be more than happy to help you.
You have to focus on adding value to your prospects’ lives on an ongoing basis. You can only do it by giving your prospects something of value – your personal Products, such as:
Free and paid Products will help you establish your reputation as a leader and authority. Without those two, don’t even think of making any money in network marketing. Your own information Products have everything to do with your success as a network marketer.
When you buy a new product – whether it’s a loaf of bread or a piece of electronics – each of them is packaged accordingly. Some products have a simple plastic wrap; some are put in heavy-duty boxes for protection and preservation of quality. How you package your product will affect its price and attractiveness.
Some products are sold in combination with others, like printers and printer cartridges, or water filters with filter cartridges, or shirts with ties.
You, for instance, can write a series of blog posts highlighting one specific topic and then Package them into an e-book or a video-tutorial series. You can also create an information product and Package it with a free bonus, such as a free report or a piece of software.
Promotion is art and science in one. The word “promotion” translated from Latin means “to move forward”. It takes time and efforts on your part to run successful marketing campaigns in order to move your product forward, toward your Prospects. You need to learn marketing techniques that work online and apply them. Unfortunately, most Uplines don’t teach them to their Downline and continue using methods that stopped working fifty years ago.
Promotion is the most difficult and fun part of the entire network marketing process. If you ignore this part in your marketing system, forget about the seventh P of network marketing – the Profit. No Promotion – no Profit. Without Promotion, nobody’s going to know about your product; nobody will care. Your product may be worth a million dollars. But if you don’t create a million-dollar way to promote it – a marketing channel – your great product will be doomed for oblivion.
You will earn a Profit only if you target the right group of Prospects who need your Product packaged appropriately and promoted using an effective marketing channel.
It’s easier to say than to do. But as you probably know, a bridge from a million-dollar idea to one million dollars is a million-dollar execution.
1.Position yourself as a leader in multiple Places online,
2.target the right Prospects with Products they need that are Packaged and Promoted the right way,and receive your hard-earned Profit.
The seven P’s of network marketing are:
1. Positioning;
2. Places;
3. Prospects;
4. Products;
5. Packaging;
6. Promotion;
7. Profit.
It’s quite different from the classic marketing process, isn’t it? Well, let’s briefly talk about each one of the seven P’s.
Positioning
In simple terms, Positioning is the way you present yourself to your target audience, or prospects. The reason I put Positioning first in this list is because network marketing is a person-to-person business. Before you offer your business opportunity, people have to get to know you. You have to build relationships with them in order to gain their rapport and stop being suspicious to them.Now, how should you position yourself, so that your prospects could look at you and say, “This is the guy/gal I’d like to join to build my network marketing business with”? Ask yourself and answer the following questions: What do I want to be famous for among my prospects? How can my prospects benefit from what I know? What do I want them to remember me as? What is my unique talent that will help people improve their lives? Your answers will help you understand how to position yourself in front of your prospects.
Places
Note, I put “Places” in plural, because network marketing is a network-building business. You have to be in many places at the same time to lay a rock-solid foundation for your success in network marketing. In the physical world it’s impossible. But, on the web, you can be present in multiple places at a time 24/7. And it’s powerful.Since we’re talking about building a network marketing business online, you can’t afford to be present only on your website, or only on Facebook, or only on Twitter, etc. You have to expand your online presence as much as you can.
You have to keep the first P in mind – Positioning. Being in multiple places at a time will also improve your positioning, because in order to position yourself somehow, you need Places to do it at. Consider a specific Place of your presence as a stage or podium from which you talk to your target audience.
Prospects
The third P in the network marketing process stands for Prospects. You have to define your target audience – a specific group of people in front of whom you will position yourself, because not everyone is your prospect. Who do you prefer to work with as part of your team? You have to know exactly who your Prospects are, lest you recruit someone who will suck your blood and energy without giving anything back.If you don’t know how to define your Prospect, sing up for my free email training. I’ll be more than happy to help you.
Products
Speaking of Products, I don’t mean your network company’s products. (They’re the last thing you want to bug your prospects with). I mean the results of your positioning, expansion to different places on the web, and care about your prospects.You have to focus on adding value to your prospects’ lives on an ongoing basis. You can only do it by giving your prospects something of value – your personal Products, such as:
- Video tutorials;
- E-books;
- How-to articles;
- Webinars;
- Seminars;
- Membership website;
- Group coaching;
- One-on-one coaching;
- Etc.
Free and paid Products will help you establish your reputation as a leader and authority. Without those two, don’t even think of making any money in network marketing. Your own information Products have everything to do with your success as a network marketer.
Packaging
When you buy a new product – whether it’s a loaf of bread or a piece of electronics – each of them is packaged accordingly. Some products have a simple plastic wrap; some are put in heavy-duty boxes for protection and preservation of quality. How you package your product will affect its price and attractiveness.Some products are sold in combination with others, like printers and printer cartridges, or water filters with filter cartridges, or shirts with ties.
You, for instance, can write a series of blog posts highlighting one specific topic and then Package them into an e-book or a video-tutorial series. You can also create an information product and Package it with a free bonus, such as a free report or a piece of software.
Promotion
Now, when you have a product, you have to promote it. You need to create a distribution channel for it. It’s a fact that buyers will not beat a path to your door. You need to help them find your product, explain how it solves their problem, and they’ll buy it if they need it.Promotion is art and science in one. The word “promotion” translated from Latin means “to move forward”. It takes time and efforts on your part to run successful marketing campaigns in order to move your product forward, toward your Prospects. You need to learn marketing techniques that work online and apply them. Unfortunately, most Uplines don’t teach them to their Downline and continue using methods that stopped working fifty years ago.
Promotion is the most difficult and fun part of the entire network marketing process. If you ignore this part in your marketing system, forget about the seventh P of network marketing – the Profit. No Promotion – no Profit. Without Promotion, nobody’s going to know about your product; nobody will care. Your product may be worth a million dollars. But if you don’t create a million-dollar way to promote it – a marketing channel – your great product will be doomed for oblivion.
Profit
Although the seventh P of network marketing – the Profit – may seem like a simple concept, it only seems so. This last, but not the least, part of the network marketing process has also to be planned, targeted and achieved.You will earn a Profit only if you target the right group of Prospects who need your Product packaged appropriately and promoted using an effective marketing channel.
It’s easier to say than to do. But as you probably know, a bridge from a million-dollar idea to one million dollars is a million-dollar execution.
Summary
The seven P’s of network marketing is just a basic formula for success. So, to be successful in your network marketing business, follow this network marketing process:1.Position yourself as a leader in multiple Places online,
2.target the right Prospects with Products they need that are Packaged and Promoted the right way,and receive your hard-earned Profit.
Thank you
Comments
Post a Comment