The Mike Dillard Magnetic Sponsoring eBook and concepts have taken the network marketing MLM community by storm. In this article we evaluate why his methods are so effective in creating home based business leads, and take a close look at what makes his ideas so different.
Or are they different? Not really, although this is radically different than what new network marketers are typically taught. Mike’s concept of a low cost affiliate offer which is sold upfront to prospects is actually well known in business marketing. Free give-aways and “loss leaders” have been long used very effectively. Magnetic sponsoring is different than the familiar “bait and switch,” however, since the offer has true value to the prospect. By definition, the value of the offer far exceeds its true market value.
Network marketing and MLM as an industry is populated with untrained marketers who have been told that minimal marketing skills are needed in the industry. Most are “trained” to approach everyone in the “warm market” about their great company, products, and pay plan. The products will sell themselves, right? Wrong! Usually, this method fails and then new associates may try buying home based business leads. Although this may eventually work, extensive training is usually needed to have any success. They frequently run out of money before they sponsor enough associates to even cover their expenses.
Products don’t sell regardless of how good, the number of scientists behind them or how many patents the company has. People are primarily seeking solutions. This may explain why it is often easier to sell a $500 training system that teaches how to generate leads than selling a startup distributor kit for much less. A distributor kit isn’t solving any problem; merely creating a new one.
99{b930f8fc61da1f29cba34a8cbe30670691f63878f9c98a2d7d5d6527da1fb8f3} of network marketers haven’t ever had any marketing training. So, marketing training is what is most sorely needed to get them headed in the right directions toward creating a profit. Secondly, they need a way to cover all the expenses associated with advertising their business.
Mike Dillard Magnetic Sponsoring solves these two issues using the “funded proposal” concept, or self-liquidating offer (SLO). Rather than promote the company’s products and services on the front end, a low-priced but practical product, which instills some basic marketing skills is sold early in the sales cycle. Your prospect benefits immediately, creating a win-win situation. Note also that you’ve generated revenue during the prospecting cycle even before anyone has joined your network marketing company.
The Magnetic Sponsoring course itself, is the industry’s first example of an SLO, since has been created as an affiliate program. It is remarkable and ingenious that the Magnetic Sponsoring course which describes the key parts of the “funded proposal,” was created in it’s own image. Adopting Mike’s philosophies and systems, you’ll soon find yourself easily attracting home based business leads and quickly improving your critical cash flow needs.
