If you’re a blogger like me and you promote only offers you believe in by means of a list you should also sit up and listen!
The book is called Magnetic Sponsoring, and it’s by Mike Dillard, marketing whizz who has made $50 Million online.
The book is a very readable fluff free 132 pages, and takes you through the process chapter by chapter of how to achieve the premise of the book, which is how to become the hunted online and effortlessly attract people want to buy from you, and not be the hunter who is constantly searching for the next product to push, and build an extremely successful business as a result.
So, before I give you a detailed breakdown of my Magnetic Sponsoring Review I’ll summarize the concepts Mike teaches.
The vast majority of MLM marketers are constantly chasing sales whether it’s online or by means of hosting tiresome home based parties. This is the model the author refers to as the hunter. The hunter puts all of his or her effort into promoting a MLM company X.
The author argues that what if company X was to go under or if you were kicked out for no fault of your own, where would you be? Starting again from scratch …
Instead why not build yourself as the brand – or what the author refers to as You Inc. and become the person who others will want to follow and to lead them. Then you can choose the MLM markets YOU want to enter and lead your followers into them, and even sell your own products online.
How to you make people want to follow you and see you as the leader?
This part is fascinating – It’s by becoming an Alpha male (or female)
The author distinguishes our journey in network marketing as a member of one of 3 categories, which relates back to basic human psychology, and more specifically to our own mindset.
Are you an Alpha, Pre-Alpha or a Beta?
The Alpha is a person who people will want to follow. A Pre-Alpha is someone who is leaving their comfort zone and wanting to become an Alpha leader. And a Beta is someone who is a follower, or as we see online, someone who is buying all those shiny new get-rich schemes.
And the fascinating thing about being an Alpha is; that it’s not determined by our clothing, experience or wealth, but how we feel about ourselves internally…
Here’s how you find out if you’re an Alpha. Go down to your mall, and make eye contact with an attractive member of the opposite sex. Who looked away first? Was it you? If it was then you’re a Beta or Pre-Alpha. If you held the gaze and the other person looked away, then you’re most likely an Alpha.
Are you faking it?
Those people who follow you or are part of you MLM group will be the ones who will confirm your status by deciding whether your actions are congruent with your beliefs. If they are not then you might possibly hear words like “jerk”or “poser”
But again, It’s YOU who decides what group you are in. Not to worry if you hear those words as the author goes onto give us tools to solidify our Alpha status.
The next chapters go on to solidify the concept of YOU Inc. and the importance of being an Alpha to make it in the industry. In fact it’s so crucial that if you’re not an Alpha – you will fail.
Creating the Sales Funnel
The author then explains how he went from the churn and burn model of endlessly buying leads to a model which I use, which is to
1. Build a list
2. Build a Relationship with the List
3. Market to the list.
This is the essence of a sales funnel.
A deep sales funnel = more profits
As the author says, In the MLM industry you’re going to be very lucky if someone who doesn’t know you, suddenly gives you $300 to join your business opportunity to sell some nifty vitamins.
They’re more likely to buy some low cost $27 eBook to test drive your services, and then pay your $300 further down the track when they like you and trust you.
A funded proposal
To start this whole process, and in order to build a list, you obviously need to find prospects and obtain their email address.
If you were to spend $100 on Facebook ads and recoup that $100 by means of a portion of your prospects buying an irresistible product from you after signing up, then the magic happens – you are effectively building your list for free. This is called a funded proposal.
When you hit this sweet spot, you are now obtaining endless leads for free – and so you can scale as large as you want 🙂
All you have to do now is focus on your high ticket sales at the end of your funnel. In this case the $300 product.
In my business I do this a bit different. When folks sign up to my list, I give them the option to sign up to affiliate programs they might such as Bluehost and Aweber. I can then plugin in the backend odf my sales funnel to whatever I choose.
In the coming months I will be a starting a coaching forum for my backend product that has a monthly subscription of around $49. This is one of the most profitable online models.
The Magnetic Sponsoring book then details how to find leads and how to structure a lead capture (squeeze) page, and the importance of learning copywriting as a skill.
Mike dedicates a large chapter to the importance of marketing and learning copywriting and gives examples of what has brought in millions of dollars.
The final section of the book is the importance of turning what probably started out as a means to bring in some income to pay the bills into a professional long term business.
I’ve given you a simplistic review of this book, but I recommend you invest in the small amount it costs ($5 for the kindle version) to have this book by your side as a roadmap and as a source of inspiration in your online journey.
I hope you found my Magnetic Sponsoring Review useful.
Get Magnetic Sponsoring from Amazon HERE.
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