One of the biggest challenges, with Network Marketing is attrition. It’s difficult to build a residual income when you have more people running out the back door, than you have coming in the front door. Have you ever tried to fill a bathtub full of water, when the drain is still unplugged? It doesn’t matter how hard you try, the result is always the same. You eventually end up with nothing to show for your efforts. You get burned out, and you eventually give up.
It’s important to understand, network marketing is not just about bringing people in the door, it’s about keeping them in, and moving them along. It’s about growing leaders, not just maintaining followers. There is only one way to build a true “walkaway income”: and it is, through proper retention.
To learn how to keep people in the business, it’s critical first, to understand the top reasons why people leave the industry.
The number one reason people leave network marketing is setting unrealistic expectations. Networkers can many times oversell, over promise, and under deliver. For example, it’s common for amateurs to lean heavily on the timing of an opportunity. “Get in now while the company is still in pre-launch.” Or have you ever heard, “Get in on a ground floor opportunity.”? This type of language implies, by securing a position early on, someone can get lucky, when the company enters into momentum.
Truth: Regardless of when someone joins, the business only works if you do.
Another false expectation is the idea, network marketing is a get rich quick opportunity. Unfortunately, social media has perpetuated this myth even further. It’s become very easy for people to pretend to be more successful, than they really are. Or, post images of their large paychecks, without telling the backstory, or the special deals, that may have been involved. Ultimately, when you sell people on “fast cash” – or with a “get rich quick” story, they will leave, when they don’t become an overnight success.
Truth: Building a true residual income business takes time. Behind every overnight success, there is always more to the story. Rather than “faking it until you make it”, try “faithing it until you make it.”
Another common tactic networkers often use, is portraying the business as “easy.” There is nothing easy about learning a new set of skills, stepping outside your comfort level, daily discipline, exercising patience or developing a team.
Truth: Like any business, network marketing requires hard work, smart work, dedication, commitment and perseverance.
If your strategy is to sell people expensive packs at enrollment, then disappear, if your company’s business plan is to focus exclusively on sharing big checks on stage, or if the only thing everyone is talking about is money, it will never last. If any of these strategies are being perpetuated in a company, that company may be closer to a crash, than you realize.
Truth: True residual income is a function of consumption, not recruiting. It’s important to have a strategy in place to attract customers. Loyal customers are “The lifeblood” of the business. Having a system to help new distributors recoup their investment, without having to go recruit someone into the business is vital. (This one is a little deep and requires a more in depth discussion at a later time.)
I could keep going, but I am sure you are getting the point. The key to building a lasting check in this industry is establishing a leadership culture founded upon truth, honesty, integrity and substance; Not hype!
Here are 8 successful tips to create more loyalty in your your downline:
1. Be real. Authenticity is the gateway to building true relationships of trust.
2. Watch your words and get away from hype.
3. Educate and inform.
4. Don’t over hype your products or your opportunity.
5. The truth is always good enough.
6. Rely on the value you, your team, and your company brings to the table.
7. Set realistic expectations. This is netWORK marketing.
8. It’s not get rich quick, but it IS get rich possible. Anything worth having takes time to build.
Setting realistic expectations, may not lead to as many personal recruits. But, it will help you attract THE RIGHT type of people, to your business. It will serve as a filter to keep out those, with an entitlement, or “lottery mentality.”
Remember: True residual income means never having to start over. Build it once. Build it big. Build it to last.
In the spirit of success,