Are you developing your skills by using a funded proposal to bring leads and prospects into your funnel: your front door? Once you do this, you deserve to keep them in your bucket: your front door. Retention is the payoff or the perk for placing people in your funnel. The MLM retention average is 15% which means for every 10 you recruit 9 are quitting. Fortunately, you can absolutely do something about it! Robert Crisp uses five keys to MLM retention: Inspiration, Information, Activation, Recognition, and Confirmation.
1. Information – “Inspiration Without Information Creates Frustration”
This wonderful quote came from the founder of Mary Kay, Mary Kay Ash. The reverse is also true which means if you want to keep your MLM retention rate high, you’ll always connect your inspiration with information and vice versa. Robert breaks down information into three categories: product information, business building techniques, and the details.
Product Information
Are you inspiring your team with beneficial knowledge so they can confidently communicate the true benefits of their products instead of saying ridiculous cliches like, our products are the best, we have a patent, and we have the best compensation plan? Prospects have heard this pitch 100 times and it sounds like blah, blah, blah to them.
Building Techniques
This will be the foundation for empowering your team to create cash flow and a lasting residual income. Use a funded proposal, training and attraction marketing system as your team’s “Funnel” and use this as a gateway to place them in your “Bucket” – your primary MLM. This means your team members will make money even when someone doesn’t join their business. Your team members shouldn’t be overwhelmed and confused so make sure they have a getting started program. Consult with them, find out their personality type, the marketing strategies they prefer and can invest in. In the beginning, inspire them to master principles #1, “You Must Not Let Your Past Predict Your Future” and Principle #4, “Feed Yourself First!” This will empower them to master MLM Retention Multi Level Marketing success and leadership. Always give clear guidance, especially in the beginning.
The Details
Are you showing your team how the compensation plan works in detail: how many autoships or memberships will it take to make 10,000, 40,000, or 100,000 a month, what are the qualifiers to make bonuses, and go on company trips? Be upfront with your team about your relationship with them: what is expected of them, what can they expect from you, how can they reach you, will you give them one on one coaching sessions, will you conduct group trainings, prospecting webinars and conference calls and how often? Although you’re using a training and attraction marketing system, are you giving more in depth detailed training? Do you have a knowledge base of FAQs, articles, and training videos that can be accessed by your team even when you’re not available? I told you this was for the serious network marketer. This is serious stuff and you will implement it if you want serious cash flow and MLM Retention Network Marketing success.
2. Activation – The Key To Early MLM Retention Network Marketing Success
Activation means so much more than just having activity within your team. For high MLM retention to occur beyond the normal rate your activity will have to be strategic and powerful enough to inspire the right effort from your team to move towards a common goal as a whole collective body. Group growth, individual accountability, and being the leader and feeder will keep team efforts focused on the right activity.
3. Recognition – Reward Your Team Yourself
Robert said, “Recognition builds volume, volume builds checks, checks creates new life-style patterns which lead eventually to a greater desire level, which will then create a new level of activity and inspiration.” People love to be recognized. Think of various rewards for getting started. It could be for a new sponsorship, having a first 30 leads day, asking questions during a meeting, moving up in rank, or getting your first $1000. These rewards can range from restaurant gift certificates, to cards, to a shot out on a webinar or conference call. As the results get bigger so do the awards: Plaques, trophies, jewelry, award ceremonies. Don’t wait for the company to recognize your team. When you do it, you keep more people on your team.
4. Confirmation – Holding Your Entire Organization Accountable
Confirmation is about you as a leader and feeder assessing the needs of your entire organization. It’s about envisioning the big picture of where and how you’ll lead your entire organization to MLM Retention Multi Level Marketing success. It’s about clearly communicating your vision to your organization so they too can see the big picture. Look at the other four keys to retention: inspiration, information, activation, and recognition and check to see if you’re doing them well.
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