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MLM tips - What is your signature file ?

One of the mlm tips I would like to share with you is the misuse of signature file.

What is a signature file?

A signature file are a couple of words below your name usually in an email or other document.

For example below are two different signature files:

Monica
Mentor with a servants’ heart
http://www.dailymlmtips.com

My statement informs people that I am here to help them.
My url informs people about the content of my website.

What is your signature file?

It should be sort-of-like a small ad or a small pitch.

Signature file can be used to pitch anyone on your network marketing company rejection-free.

Two Most Common Signature File Mistakes

Mistake #1: Having a url of a website that means nothing!
Mistake #2: Having a url that takes visitors to a company website without any way to capture their information!

If you can not capture the attention of folks that visit your website so that they will give you at least their name and email, you can not get in touch with them. They may never come back to visit your website.

Your website should never be your company website but a lead capture page or a website with popup similar to my blog.

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March 19, 2006 on 2:31 am | In Network Marketing tips | No Comments

Network marketing business the right way

How to market your network marketing business the right way so that you make money instead of losing money.

1) Remember it is ‘network’ marketing. This means it starts with networking. You may start with your friends and family, if you have some left:) You can prospect through them and you can get referrals and some sales. If you have a great product that people want, it should not be difficult to get referrals. Getting referrals is often called prospecting through.

Prospecting through is simply asking your friends if they know someone who is interested in your product and then give them a killer brochure. It is rejection-free and effective.

Then there is the doorway theory: The doorway theory implies that every person is the door for hundreds of people.

Which one is better?

You can ask them to buy and possible get rejected or prospect through and get access to their friends and family. Your friends like you and want to help you.

Another trick that Dave Cones shared with us last Saturday: Ask for their opinion. Ask your warm market: What do they think about your (killer) brochure? Tell them you are doing marketing research. This approach is rejection-free – Every one likes giving their opinion.

Then, after you get some happy customers on your great products, you ask for referrals. Hopefully with your great products, those referrals become customers and a great source of referrals for you…

If you find that no one will buy your products then find a real mlm business.

If you have been in many network marketing companies before and you find that your friends and family are scared of you and they run to hide as soon as they see you, then you just have to change your approach by asking their help for referrals for the products. Do not mention your opportunity or the business aspect.

There are lots of low cost lead generation techniques offline and online. Please refer to the category of lead generation in the post archives http://networkmarketingsuccesstips.com/archives/

2) After you start making some money, you can use this money (not your own money) to start advertising your products or your service. You may want to test post card marketing, test internet marketing through ezine advertisements, test Google adwords, and even host your own website . . .

Initially, the money that you make is not your money to spent at will. Instead it is the food for your baby (your business)! Teach your team this principle.

3) When you start earning significant amount of money, keep some in your savings account and you may want to invest in real estate, in bonds . . .

Some network marketers are making lots of money. The next day their company disappears from the face of the earth or their company decides to terminate them or their company decides to cancel the compensation plan! If these guys are buying fancy cars and big houses, then the next day they get no checks. They are suddenly in debt.

But if these guys use their money wisely, they will survive and may not even get affected.

I hope you liked today wisdom. I appreciate comments, and what would you like to read about next?

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March 15, 2006 on 3:02 am | In Network Marketing tips | No Comments

Network marketing mistakes that you should avoid

I would like to talk about network marketing mistakes today.

I recently received a question: How to stop losing money in network marketing?

I will talk about the wrong ways of marketing that waste money then afterwards I will discuss how to make your marketing work so it makes you money.

Most people join network marketing companies to make money and to get rich.

The fact is: Many people lose money!

How do they lose money?

They may have listened to their upline!

Let me explain, initially, two years ago when Bill started in network marketing, he was working with a company where no one had any clue about marketing. All that they taught him was to make a list of his friends and family! He did that and asked his upline what to do next. They told him to start mailing packages about the company! He did not like their idea, but he was supposed to be teachable and he decided to listen… Bill mailed about $800 worth of these packages and never heard from a single soul!

This does not mean direct mailing is a bad idea. However mailings with a horrible letter for non-targeted list is just plain dumb-stupid. Never listen to your upline if you experience horrible results!

Direct mail requires a letter with great copywriting skills to a targeted mailing list. It costs money for testing the list and you have to be prepared for money loss.

Lesson #1: Do not use direct mail initially in your campaign.

I will discuss in the future how to undergo successful mailing campaign without losing your money.

They may not have listened to their upline!

Placing advertisements in the newspapers is just not smart to say the least. No one ever reads classifieds advertisements for business opportunities. The advertisements are very expensive and your ad can get lost between the hundreds of other ads. At one time Bill placed an advertisement for $275 and it got him absolutely no response: zero leads. In this case, his uplines told him no one reads those ads but Bill decided not to listen: Bill’s mistake.

If your upline tells you to start placing advertisement in the newspaper, then you have to study his personality and his intentions (He is just gambling with your money)

Lesson #2: Never use expensive advertisement in the newspapers.

Some companies obligate their distributors to keep buying products: more than the needed personal consumption to stay active in the company which leads to accumulating lots of unused inventory.

Lesson#3: Quit this company. Luckily, most companies do not follow this model anymore.