Retention. It’s the magic word in network marketing, maybe a more important issue to network marketing business owners than prospecting. It’s the Holy Grail of network marketing. For the majority of
Retaining your downline in network marketing has a significant impact on your income and your time. It costs more to sponsor a new distributor or customer than to maintain one. No one wants a revolving door business. Many, however, are resigned to the revolving door aspect of
Retention in your downline is 5 things:
1)Who the people ARE
2)The quality of the company/service/products/comp plan
3)Your sponsoring process – based on hype and speedy sign ups, or are you looking for real business partners?
4)Your training system – does it teach your team how to avoid pitfalls? Does it teach them how to sort through candidates while maintaining their self-esteem?
Does it teach them how to work with people? How to target their marketing?
5)Your leadership style
You can change #2 by changing companies. You can change #3 and #4 by evaluating your results and making necessary changes. You have the most control over #5 by working on yourself. You can do NOTHING about #1 except to identify who you’re working with -not by their words, but by their actions.
I have tried to work with the uncoachable, done therapy with the unmotivated. I let them go now. NO they are not “losers” as some would call them. They have a different path, that’s all. And the path of my business is not for them. The sooner I can identify them, the more fun my biz is, because I’m not trying to turn frogs into Princes. I let the frogs be frogs if they want.
I DO have some things in place to quickly identify the most likely candidates, and a process for closure for those who wish to back out. I am more rigorous in sorting my potential partners before they join.
Remember only 10% of the population will do a business. 3% of the population are self-starters. So you might want to look at who you are approaching. Not everyone who needs money or lifestyle will do multi-level marketing. Retention begins with your prospecting and sponsoring style.