Cost Effective Lead Generation Strategies

Lead Generation can be one of the most costly expenses of any network marketing business. There are many what I call routes to market, but most of them cost money - lots of it. The problem with costly lead generation strategies such as Pay Per Click, PPC, buying lead lists or advertising on job boards is that a new network marketer will run out of money before they can develop an income to cover the costs. This leads to a high dropout rate in many network marketing businesses.There are two stages to a lead generation strategy in network marketing. Start with people you know and move on to people you don't know.The first and cheapest method of generating leads is your personal contact list or network. By the time you are 21 you already know about 2000 people which is a great resource, so don't discount talking to people you know. At the very least you should be telling people what you are doing so they can't turn around once you're a top earner and ask why you did not tell them about your opportunity. Many top network marketing business have started with the warm list as it is know.The next strategy is used when new network marketers claim to not have a big contact list, or may have already worked through theirs. What's next? This is where I have done several years of research and have come up with a highly duplicatable low cost lead generation system.The basic principle is that let's say you sell widgets - find people who want to buy widgets. When you're selling a network marketing opportunity, don't look for people who are looking for jobs. Look for people who are already sold on network marketing but may be struggling with their current one.The goal of any marketer is to get highly qualified leads for the lowest cost and there are a few great products on the market which help you achieve this. I have managed to develop a lead generation strategy which is largely self funding. That means that I can generate an infinite number of leads with little or no cost. In addition, the leads are highly qualified and have a high conversion ratio.In conclusion, firstly make use of your existing contact list as it's free and there is nothing to delay you. While you are doing that, start to develop your longer term suitable lead generation strategy using Magnetic Sponsoring. A combination of both will ensure you have leads to work on right away and a long term supply of qualified leads.