How to succeed in Network Marketing
Sponsoring and Retention
Conquer these two tasks and you are on your way……..
So you’ve just joined a Network Marketing company and are excited about the prospect of being your own boss and making a good living, or perhaps a fortune even!
Some statistics
It is said that up to 80% of newbies quit the business in there first 90 days and this climbs to 90% by the end of the first year! It is also said by no less an organisation than the DSA that a distributor only ever sponsors on average two people into their network!
Another statistics suggests that less then 5% of any population are true sales people - so most people can’t sell and most of us don’t like being sold to! Yet most networkers are expected to go out and sell their company products - which can often be products most folk don’t want to buy in the first place - like nutritional supplements.
With statistic like these it would appear that the odds are stacked against most people making a success of Network Marketing!
Why the high drop out rate?
- Most people joining an MLM company do so to make an extra income yet with most networks they soon discover that there are ongoing costs they didn’t bargain for.
- One such cost is the Auto-ship program - so many MLM companies insist upon their distributors buying the company products to ‘qualify’ for commissions - when the real reason is that the MLM company probably couldn’t exist with true customer orders alone! Take away the distributor auto-ship orders and what would the company sales look like then?
- Desire for instant gratification or unreasonable expectations are another cause for drop outs - newbies fail to realise and the sponsoring distributor fails to advise that network marketing is a business that needs to be understood.
- Experienced networkers know better than to ‘sell’ their opportunity on the promise of big easy earnings - they know full well that big earnings require massive action. Sadly, not all distributors make this clear.
- Too few newbies are prepared to educate themselves - they need to go to meetings, buy books, DVD’s and CD’s to educate themselves about the business of network marketing. Just as in the corporate world where CPD (Continuous Professional Development) is the norm, so it is with Network Marketing. Some suggested reading is listed below.
Look out for the next Post when I shall look at ways to generate leads for your MLM business. Here are a few books you might read:-
Get you FREE copy of “The 7 Great Lies of Network Marketing
Check out the “Renegade Network Marketer” the most powerful system available to Networkers.
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