The Key Elements of an
MLM Marketing Plan (Part 1 of 2)
Plus, an amazingly effective,
yet often overlooked planning practice
"Tell me about your mlm marketing plan?"... That is the question many students are asked of their network marketing coaches when performing one-on-one coaching sessions.
Marketing to a business is like the foundation is to a house. Before you throw up framing, roofing and fixture, you need a solid foundation in place. A business is no different except it's foundation is marketing and it's goal is to move product.One of the biggest problems with not having an mlm marketing plan in place is you lack awareness. You're never sure if you're coming or going. If you haven't created any objectives or goals for your business, it's very difficult to know if you're headed in the right direction. Creating an mlm marketing plan isn't difficult but it does take a concentrated effort. You'll want to do this as soon as possible so you can begin tracking your progress and creating your success on purpose. That way you won't be confused on what your next steps are and you'll have a vision for your business. This two-part series will include some of the key elements of an mlm marketing plan. You'll learn key marketing elements, differentiation tips, and the importance of diversifying your campaigns.
The Key Elements of an MLM Marketing Plan
An mlm marketing plan can be boiled down to a few key components: time, money, tracking, type of marketing, and tracking. Let's briefly expand on each one.
Here's a few simple questions you can ask yourself when assessing your budget:
What amount of money do I have after your expenses have been allotted for? Could I get creative with my budget to allot even more if I had to? Am I putting myself at any type of risk by setting aside XXX for my network marketing business?
Time - For now it's just important that you identify how much available time you'll have to implement your marketing strategies. Similar to budgeting, you have to take into account your other daily responsibilities first before you do this.
Money - How much money do you have to run your business? Out of that money how much are you going to spend on marketing? Each situation is unique but if I were to make a blanket recommendation, I would invest 10% of your availabe budget into your marketing.
You'll want to start out slow and test the waters to see how things go. Once you've determined a marketing outlet is effective, you can gradually scale up the amount you put into your marketing.
Type of Marketing - Once you've identified the first two items, you now want to explore the different avenues available for marketing your mlm business. I recommend internet attraction marketing because of the low cost involved and how targeted it is.
However, there are several effective offline avenues you may want to consider as well to help diversify your business. What works for one person might not work for another. Also, different marketing mediums can become saturated if everyone starts using them.
Here are a few alternatives to online marketing:
- Direct Mail Postcards
- Classified Ads
- Radio Ads
- Television Ads
- Magazine Ads
- Newspaper Ads
Tracking - None of your planning efforts will do you much good if you don't track your progress. It's overwhelming the amount of marketing methods you can utilize to grow your business and arguments can be made on both sides as to what is the best way. It's up to you to prove to yourself what is the best method and the way you do so is by tracking.
Track every part of your marketing plan from mlm traffic to email list opt -ins' to conversion, to phone calls made. I know it seems like alot and it is. Start slow and gradually increase as you go along. Tracking is like your best friend who'll never lie to you. He only shows you the facts which is what your conscious mind needs in order to operate at it's best.
In part two of this two part series we'll answer important questions such as: "Who should create your mlm marketing plan?" and "What parts of my mlm marketing should I tweak on a consistent basis?"
To Read Part Two, "An MLM Marketing Plan Must Have These Key Fundamentals", Click Here.
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