MLM Expert Advice

I’ve said this before, your market is NOT everyone.  Although even top MLM superstars will say when asked who their market is “Everyone” it most definitely is not.  And even if it were you can not market the same way to everyone and expect anyone to respond.  You need to find your niche.  For example I know of one couple where the wife had been a nurse and while she loved nursing and the people it brought her in touch with she hated the hours and the pay.  She and her husband joined an MLM and decided their niche market would be other nurses who felt the same.  Note that it wasn’t all nurses just those who:

• loved their work
• loved the people they treated and worked with
• hated the hours
• hated the pay

This was their niche market.  Wikipedia provides us with the followng definition for a niche market:

“A niche market is the subset of the market on which a specific product is focusing on; Therefore the market niche defines the specific product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intending to impact.“

I would suggest taking it one step further.  Your niche market should be a market you love as in my example with the nurses.  Now some may disagree suggesting that if you love something it may be too narrow a market or that if you love it too much you may not be able to make sound business decisions regarding it.  Obviously you need a profitable market but you also need balance.  You want a profitable market that you have interest in.

I’m going to stay away from markets related to products as MLM products span the gamut from house hold products to health care to legal care and beyond.  Instead lets look at finding a niche market for your business. What do the following groups have in common:

• Nurses
• Doctors
• Business Executives
• Small Business Owners
• Big Business Owners
• Computer Programmers
• Restaurant Owners
• New Mothers

All of them are possible markets for your MLM business opportunity but you wouldn’t consider presenting your opportunity to each group in the same way.  For a new mother you might suggest that your MLM business opportunity provides a way to make extra money from home to provide for the needs of her child whereas for business owner you might tell them that your MLM business opportunity provides a business with no inventory needs and no staff to manage.  Each market has its own needs based on the career or circumstances.

Again you wouldn’t target all new mothers or all new business owners just those in your specific niche. For example are you wanting to market to single mothers or those with a spouse or significant other.  Do you want them to be in a specific age group or income level?  Each of these “sub” markets or segments of the new mothers market has different needs that your MLM business opportunity satisfies.

You need to do the research to find which specific segment of the market has the greatest need.  In other words you want to know that your market has what you have to offer but also how much or how badly the want it.  Additionally you need to know how profitable the niche market you are targeting is and what your competition is for that segment of the market.  By doing the research you are putting together an effective MLM business plan.

So how do you find your niche market?  Check back in a few days for some steps on how to identify YOUR niche market.