Launching Your Own Home-Based Sales Business? How Can You Find Your Target Clientele?
Posted on: 14 June 2016
Whether you're interested in selling skin-care products, kitchen accessories, jewelry, or even dietary supplements under the multi-level marketing (MLM) model, you may be excited about the prospect of being your own boss and earning as much (or as little) as you like by selling high-quality products and enlisting your own troupe of salespeople to increase your commission numbers. However, cold-calling potential customers can be time-consuming and frustrating, particularly if you haven't put much effort into screening these customers and weeding out those who are unlikely to respond. What market research methods can help you quickly winnow out your target customer base? Read on to learn more about the research you'll need to do before jumping full-force into your new multi-level marketing business.
What should you do to identify prospective customers (and sellers)?
The key to any successful MLM business lies not only in finding customers (and repeat customers), but in enlisting others to sell these products as well. Many MLM companies are structured to give you an additional commission amount or percentage for each sale by a representative in your "downline" -- one you've personally recruited. As a result, you'll want to focus your sales efforts not only on those who may buy and use your products, but those who may be interested in selling these products themselves, whether to earn some extra spending money or even as a replacement for a full-time job.
There are several qualitative market research tactics that can help you identify a target consumer profile with a great deal of accuracy. These methods each utilize a proprietary mix of psychology, sociology, and other social sciences to determine the characteristics of the individual who is likely to enjoy your product and wish to sell it to others. This can include focus group discussions, surveys, or purchase tracking information (like store cards that provide you with a discount at checkout).
Fortunately, because of the popularity of many MLM products, it's likely that some market research on your specific brand has already been conducted. This research may be available in promotional material published by the MLM parent company, although you may have to do some digging to find material not directed at consumers, but sellers.
For more information, contact Beall Research or a similar company.
How can you craft your sales message to appeal to your target customers (and sellers)?
Once you've identified your target demographic, you'll need to rely on your research again to craft a message that will get their attention and drive their purchases. You can do this by identifying the central or core values held by this group. For example, if you're focused on young working moms, your message will go farther if you emphasize the safety of your products or how they can fit into a busy schedule. Those targeting retirees may need images of security or reliability in a changing world.
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