By paying a monthly fee you are able to retain the services of an attorney. This is the product offered by Prepaid Legal There are many options to choose from along with varying monthly fees. Dependent upon the plan you choose will determine exactly which services you would be able to receive. Why are so many of the sales reps of this product failing with even with such a great product?
Since Prepaid Legal is a publicly traded company, they are required to release data at the end of every quarter. Some alarming information was released after the third quarter of 2009. Many of their sales force has extremely poor results. In one year, only 2% will make more than ten sales. Along with that retention is very poor; where 85% of the sales force will either give up or fail to make even one sale. Based on those numbers a lot of people are making a lot of money. But why not more? Prepaid Legal has well over one million sales reps, but 980,000 of them will not make more than ten sales this year.
The most popular marketing approach in this business is to create a warm market list. This is where you will write down everyone that you know and try to sell them your product. You are also taught to sell the opportunity of becoming a sales rep as well, seeing as that is where most of the money is made; earning a commission on the sale of the product from those reps that you recruited. This is a proven strategy that has worked time and again except that it is not a approach that is successful for everyone. One person’s warm market list and circle of influence is drastically different from that of another.
Just because you have a great circle of influence and your warm market list is very large does not automatically mean prosperity in Prepaid Legal. It merely means that you will need to develop a different marketing strategy. The problem lies within the fact that there is not much training given to other marketing strategies. The warm market approach has been proven to work; it just does not work for everyone. Your new marketing tactic will need to consist of a way in which to attract others to yourself. Becoming a leader is crucial. People want someone that has some value that they can bring to the table. You will also need to learn how to create 50-100 of your own leads on a daily basis. These are your own leads in which you can market and sell to at anytime you deem appropriate. You will never run out of people to share your products or business opportunities with when you discover how to generate your own leads.
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