For those not acquainted with the term, what is a warm market? A warm market consists of people from your immediate surroundings – family, friends, neighbors, people who you meet or run across every day, and those who you haven’t seen for a while. Many marketers are fearful of talking to this circle of people, thinking that these people are not interested in what they do and might respond negatively. But this doesn’t have to be the case at all. What you could do is identify people in your warm market and approach them without judging or being pushy.
Putting Together a Warm Market List
Imagine yourself standing in the middle of a circle – your inner circle is the very first ring around you. These are all the people who are close to you. Next, there comes the second ring, which includes your acquaintances. These people make up are your “warm market” contacts, and after the second circle, you hit the wall – those people are basically strangers and are defined as your “cold market.” You don’t know those people, and the only way to get to them is through your network.
Every professional or agency owner has many network marketing opportunities waiting for him out there. However, what if you’re starting a new, home-based business? You need to start marketing somewhere, and those that first come to your mind are your immediate circle of friends and family. The warm market list is typically comprised of family members, friends, colleagues, people servicing your home, and so on. So, why not tell your warm market about businesses with which you’re involved?
You can get a business opportunity in front of them and let them make up their mind. In reality, most people never approach the people from their contact list, and that’s probably the number one reason they fail. You already know these people, so whatever is holding you back, you should get past it.
How to Approach Your Warm Market Contacts?
Do you have a phone number? The thing you should do is pick up the phone and call them. Before you approach your warm market prospect, you should always predetermine your approach, which can be:
Third-person. This method often works quite well because it is non-invasive and may spark interest in your warm prospects. Tell them about your business. Let them know that you’d appreciate a recommendation to anyone they know who might be interested in your products or services.
Personal and direct. Call and ask your warm prospect whether they’d like to grab a cup of coffee. You’ve started a business that you know will interest them.
There is no reason to turn your back on any market, and the same goes for your warm market. There are a few potentially good prospects, so mention your deal to them when you get the chance and see if they express any interest in your business. It’s a more traditional approach to marketing, but when paired with your digital marketing efforts, it will allow you to identify new opportunities more quickly.