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Misnomer of the Warm Market

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By Jim Hickey


What does "warm market" mean to you?

Prelude:

I wrote this short article summarizing my personal traditional network marketing experience over the years especially where it relates to "warm market prospecting". I am also hopeful that others will think about their experience, reflect on it and share their thoughts in the comment section below.

Why? So we can all learn from each others experiences and ultimately grow wiser in the process. Thanks in advance for reading, sharing and growing .....

Before the Beginning:

Many, if not all of us have been involved with mlm and/or direct sales opportunities offering sound products and compensation plans. We were taught to build the business using what are now referred to as the "traditional" or "old school" network marketing system. Business growth revolved around the concept of recruitment and sales by: 1) contacting your "warm market prospects"; 2) cold calling purchased leads; then 3) employing the 3-foot rule. The result - most people quickly ran into difficulties with periods of extended rejection and motivation often waned. Once I personally started to experience the normal outcomes of the old school methods, the idea of any sort of a "warm market" really started to confused me. Now don't get me wrong, I realize the list was developed by identifying the people we know and they are definitely warm-blooded creatures (tongue planted firmly in cheek), but something bugged me about that term ... "warm market".

My Early Days and Warm Market Prospects:

After completing high school and taking a hiatus from college (mid-1970's), I had my first encounter with warm market prospecting as a 20 year old when trying to build a direct sales business with a major company that still exists today. I bought the sales kits, bought extra marketing materials along with a ton of promotional and motivational tapes. All set to go I was given my first lesson in network marketing. Actually the lesson was more like an assignment where the goal was to list at least 300 names of family, friends, acquaintances or virtually anyone with whom I had at least a marginal relationship as long as they still had a pulse. In those days I believed that the list was "warm" because it included people I knew well (family and close friends); those who I had sporadic contact (the guy who owned the corner gas station or an old schoolmates parents that I hadn't seen in several years) and even people I had only briefly met (the guy that rented my the Tux for my Prom). Then while I was still building and refining the list, "lesson" two quickly ensued. I started to "spread the word" and began to share; first the product; then the opportunity whenever an opening appeared. Slowly I started to learn (sometimes things take awhile to sink-in) two important lessons when working the "warm prospect list", a) only a few of the people on my list were lukewarm about the products despite my excitement and demonstrative prowess (tongue in cheek time again); and b) most were cool to downright cold about the opportunity! As this pattern repeated itself, the meaning of "warm market" really started to lose meaning.

Round Two: Middle Life in Network Marketing:

Next I was involved in another direct sales company in the mid 80's until the early 90's, this time slightly older and wiser. Again, the game plan presented by my up-line reached right back into the traditional network marketing tool box. First develop the warm market list (this time it was even more expansive) and then start calling. I have to admit, the second time around was far more productive both in selling product and recruiting. An added plus was the fact that this time the warm market was actually back to being somewhat lukewarm .... at least for awhile. As I diligently worked through the list, however people started becoming far less receptive. On many occasions they were even cold and more than direct with their opinions regarding the products, opportunity or both. Again I was left wondering about the term used to describe this prospecting list ... warm market.

The warm market, was it really "warm"? By that time it seemed pretty cold to me!

Round Three - Today's View:

Even back then I realized that the internet had to afford a better way to supplement warm market prospecting, identifying leads, qualifying them, building relationships and ultimately businesses. Today we know both the "what to do" and "how to do it" methods that enable effective internet network marketing and provide a vehicle to build and grow our own ventures.

Does that mean the "warm market prospecting" methods are now destined to be part of the next ice age?

Probably not (it has and still does work for some) but it does provide some food for thought.

Thanks for reading and sharing your thoughts,

Jim Hickey

A Little About Jim Hickey


Jim was formerly an "old school" network marketer now helping home and small business owners to utilize attraction marketing and relationship building methods to grow their Internet presence. You can access additional information resources and tips to propel the growth of your business by visiting Jim's blog @ http://jchickey.com/blog.


Comments

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cindyschulson profile image

cindyschulson  says:
15 months ago

Hi Jim - you have lived it and breathed it and can now guide others on better ways to make this industry work. Your experiences will save others a great deal of time and frustration. Thanks for sharing.

Eddie Perkins  says:
15 months ago

Jim,

This is a very well written article. You have the experience and you've learned whtat went wrong. Now you are fixing it and going about it in the right way. Keep branding yourself and building relationships and we'll meet at the top. Thumbs up. ~ eddie

Jim HIckey  says:
15 months ago

Thank you Cindy and Eddie, your comments are greatly appreciated.

Jim

mikewitt profile image

mikewitt  says:
15 months ago

Hey Jim,

Great Hub, one that I can relate to very well. I have also had my earlier rounds like you, and all without much success. That has all changed due to the ability to connect online with people who actually want to be involved, want what you have, and already know what you are all about.

Connecting with people in this way takes the rejection right out of the equation. I am glad you brought up the word "Warm Market" because I used to think of that as a bad word and connect it to past thoughts of my earlier experience in MLM, but today that word means something different, it means true friends, friends who may be around the globe but we all know who each other is, what we do and can connect with like interests, that's a true meaning of "Warm Market" to me.

Thanks Jim, great stuff,

Mike Witt

Jim Hickey profile image

Jim Hickey  says:
15 months ago

Hi Mike,

Thanks again for the great comments. Seems there are many of out here that have a few old battle scars from the old network marketing days. Fortunately there's a much "warmer market" around here!

Best always,

Jim Hickey

glassvisage profile image

glassvisage  says:
15 months ago

There are a lot of terms I was unfamiliar with in this Hub... warm market, cold calling... and I still feel like there's a lot to learn, but this was a great intro :)

Jim Hickey profile image

Jim Hickey  says:
15 months ago

Glassvisage,

Thanks for the comment, it is greatly appreciated!

Jim

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