Feb 3, 2009

Update: How The Economy Is Effecting Our Industry...

I've been watching the home business industry closely over the past few months to determine if our niche was going to grow or contract with the current decline in the economy, and I finally have enough data to come to a conclusion which I'd like to share with you today...

It's no secret that we're in the beginning stages of a grand super-cycle in the global economy that's never been seen before.

Right now, the biggest question isn't whether things will get worse, but how fast... Thankfully, we're in one of the only industries that has the potential for growth. Logically, I've been expecting the work at home world to see a nice bump in growth now that so many people are needing to supplement their income or replace a job, but the question remained... Would these people still spend money on a business or related training materials?

So I've been watching the numbers and waiting for some real data before coming to any kind of conclusions, which I now feel comfortable making...

Here's what I've seen...

Our industry is definitely benefiting from the bad economy in a very big way. Over the past 13 months, Magnetic Sponsoring as a company has seen an increase in sales of 470%, and January 2009, was the biggest month in our 4 year history.

I compared numbers with my friend Jay who runs a marketing system that's tied to a top-tier opportunity, and they've seen the same thing.

Yesterday, they had their best day in over six months for total daily leads generated.

Last month, they had a 65% increase in sales over last Quarter of 2008. More people are coming into the networking industry, and they're spending money... BUT...

I know several big internet marketers out there who have been experiencing a large increase in refunds. People are willing to buy, but they are looking for quality, and they'd prefer to buy from people they purchased before in the past.

There is little patience in the market for sub-standard products, and the relationship you form with your prospects and customers is now more important than ever.

So here are 4 tips that will help you take advantage of this massive influx of new people into our industry...

1: Put yourself in their shoes...
If I'm brand new to this industry, my biggest challenge will be information over load. With 100's of opportunities in the market, and 1,000's of potential sponsors found on Facebook, YouTube and Adwords, my biggest questions are...

Who can I trust?
Which business is best?
Which products should I buy?

The single best way you can answer all of these questions as a marketer, is with "social proof". If I'm brand new, and researching you as a potential sponsor, how do I know if you're the real thing or not?

I'm going to look at your videos and see how many views and ratings you have. I'm going to see how many friends you have on Facebook, and followers on Twitter. I'm going to look for testimonials from customers and distributors.I'm going to look for pictures and screen shots that show results.

All of these things will instantly show me that I can trust you, that you have value to offer me, and that I can feel safe doing business with you, before we've even spoken on the phone.

2: Pick up the phone and call your leads!!!
If someone's shopping for an opportunity, they're probably going to fill out 3-10 capture pages for different businesses. Who are they going to join?

Simple... The person who took the time to call them and establish a relationship. If you don't call them.

The next guy will, and that's who's going to get their business. Don't be needy. Don't sit there for an hour and compare your opportunity or comp plan to others over the phone.

Establish a rapport. Position yourself as a leader, and tell them what to do next.

3: Educate yourself.
This is THE opportunity of a lifetime for you in this industry. This is as good as it gets, but the only way you'll be able to take advantage of it, is to learn the skills and strategies required to do so. You must know how to brand yourself.

You must know how to get traffic, and you must know how to market your business to your prospects. If you do not own a copy of Magnetic Sponsoring or Traffic Formula yet, how do you honestly expect to compete against the people who do know these techniques?

You can't. There are no short-cuts here. Get educated or get run over.

4: Make your offer "Risk Free", whenever you can.
Give your prospects the opportunity try out your products risk-free, as often as possible. For example, we increased the money money back guarantee period on the Magnetic Sponsoring course from 3 months, to 12 months.

If someone buys the course and doesn't like it, they have a full year to request a no-questions-asked refund. We're giving our customers all of the power because that makes it even easier for them to choose our products instead of someone else's.

Once someone experiences the quality of our products, they usually purchase 2-3 more because they know they can trust us to deliver the best information out there.

Make it as easy, and as risk free as you can for your prospects to do business with you.

Talk to you soon,
Frank Tocco

No comments: