Most successful Network Marketers know that to add front end income while building long term success, you must have an SLO (Self Liquidating Offer).
The goal of this article is to answer these Questions:
- “What is an SLO (Self Liquidating Offer)?”
- “Why Have an SLO?”
- Plus, “How can You Implement an SLO into your Business effectively?”
All very tangible questions and you about to discover the answers!
“What is an SLO (Self Liquidating Offer)?”
It’s actually quite simple. A self liquidating offer is simply something that you can offer up front for low cost to create up front income for your business.
Now this income is mainly to cover marketing costs and while you can profit, the main reason of an SLO is so that you can pay for your marketing and if done right, expand your marketing!
An SLO can come in many forms:
But basically its a Generic informational product (i.e. an eBook, Training Course, Personal Product, etc.) really anything that you can offer your prospects that is of value to their needs/ wants.
Usually an SLO will consist of an eBook that sells for $20-$40 and is attractive to your prospects.
Of course the lower the cost, the more attractive to your prospects.
A $20 SLO is better than a $40 SLO just because the lower the cost the easier it will be to sell.
An example of an SLO (Self Liquidating Offer) would be Mike Dillard’s “Magnetic Sponsoring “
When you initially purchase your own copy it will cost ~$40. Once you make this purchase you become an affiliate of the course and you are instantly able to refer others.
When someone you refer buys Magnetic Sponsoring you will get paid ~$20.
Your prospect benefits from incredible knowledge and skills – You benefit from a little boost in front-end income.
So now you may be wondering:
“Why have an SLO?”
Well from the above example you now know what an SLO is – Now I will tell you Why you need it!
You see, most people start online based on hype that they will make instant money with their MLM or Direct Sales business and the Compensation plan. Though soon most find that it doesn’t happen like that and making money requires A LOT more effort than just joining a business and telling people how “Cool” and “Revolutionary” it is.
With that said, those that utilize an SLO in their front end will begin to make money up front which will in turn allow for more marketing and you guessed it, more prospects!
With an up front income not only will it keep you excited about working online but it will cover most of your up front costs while you work towards that “Holy Grail” that is known as Residual Income.
So “Why have an SLO?”. It’s very simple, so that you can make money to cover the costs of your marketing, which allows you to market More, and ultimately will allow you to generate more leads , more prospects, and more customers!
“How can I Implement an SLO into my Business?”
Ok, so now you know what an SLO is, How it works, and Why you need it.
Now you are about to discover the secrets to using an SLO (Self Liquidating Offer) effectively in Your Network Marketing Business.
I think it’s very important to Stop Here and Take Note of this Important message before we continue:
***Remember that we use an SLO to generate up front income and it has a small ticket price. This is mainly because you don’t have any leverage with your prospect, they don’t know you and they don’t trust you yet. SO, your SLO is Incredibly important as it will be a big step in creating a trust based relationship with that prospect. Make sure your SLO is of great quality because essentially it is representing You to that prospect and the value that you have to offer them.***
Ok, so how to implement.
The best idea is to start a conversation with your prospect in one way or another generally using Social Media. Never throw your offer out in the first steps of conversation. Offer help, information, knowledge, and Friendship FIRST!
After you have conversed a couple times at that point you are able to offer your SLO.
BUT, never present it as a sale!
What I mean is don’t think you have permission to sell this prospect because you talked a couple times and suddenly send them to a sales page.
Instead offer your SLO as a way to Help your prospect genuinely.
For Example,
“Hey {Prospect},
I have really enjoyed getting to know you and I look forward to the many days and years that we will have together in growing a powerful relationship!
I want to share something with you that has been absolutely powerful in my life and my business. Basically it will show you how to use free marketing strategies and also it will explain A LOT about this industry. It’s a real eye opener.
I do want you to know that this does cost some money and it is of course up to you to invest in it, but this book honestly changed my life. Your friendship is important to me and I promise you will get A LOT of value from this course.
If you want to know more about it you can Go Here:
I wish you a day full of prosperity and happiness!
Your friend,
“
You see how that is personal and is not a direct “Hey, buy this!”. Instead I have suggested the material as an option and told the prospect of some benefits and how it will truly help them and their business.
Never Ever take for granted the trust of another human being, this goes the same for your prospects and business partners.
So now you know what an SLO is, How is works, and How you can Effectively use it.
Of course there is more to it but I hope this Article has brought new information into your reality. Use it.
