Home | Business | Home Business | Network Marketing
What is your worst fear in network marketing? Let me make a guess. How do you make your team member stay? I believe all network marketers have encountered this problem and it's not uncommon. According to statistics, around 50% of new members will stay and the rest will drop out. So don't worry if your retention rate is about half. Although it's beyond your control if your member decide to leave but there are solutions to make them stay and it's no rocket science. Many marketers lack this knowledge and very often most of them do not go far. You will be surprise how simple yet effective these formulas can be. Here are 4 simple yet effective steps to increase retention rate. 1. Kick starts your new team member. When some one decides to join your team, kick start him with a step by step guide on the things that he or she need to do to jump start their business. It gets their momentum going. Normally what I will do is to get them to download a copy of my guide which I have pre written. Get them to read and make notes and ask questions regarding anything from marketing to the product itself. I will set a time and day to speak to them personally or even meet up with them, open up my laptop and show them how I do it. Then go through the team's plan and set up an individual marketing plan with them. This will be a good way to see if your new members are serious. If your new members keep calling, asking you questions about the business and wanting to learn more, chances are that they are serious people (They are the ones that will stay). 2. Be responsible for every single one Don't leave your members to fend for their own. They will eventually lose interest and drop out. Get to know how are they progressing and if necessary step in to help them if they are struggling. Make sure they have access to you so that they can get answers from you when they have doubts. Give them a few options to reach you by phone, email or even meet up. 3. Motivate them This is unquestionably an effective way to keep your team together. I do it in 2 ways, verbal motivation and action motivation If you have an interesting success story or quotes, send it or tell it to your members and get them to response to you about how they feel about it. Let your member know about your progress and your achievements. Most importantly, teach them how they can do it too. This is one way you can motivate them verbally. Action speaks louder then words and most people want to see concrete results. Show your members how you run your marketing campaign and the results of your campaign. Guide them through on how they can duplicate your success. 4. Creating a sense of belonging Another way that you can increase your retention rate is to get your members together frequently. This way you create a common community, where members meet one another and exchange ideas and information. This could in a form of workshop or seminar. Where you can meet your members on a weekly basis and conduct lessons to teach them various marketing tactics and methods. There are also other ways like web conference and discussion board. So if ever my member asks me how to make a new member stay. My answer will always be, be there for your members and do anything that will help them to grow. (I will seek help from my mentors and leaders if I don't have the answer for my members! That's the way to do it) Making your members stay is no secret. Create a strong synergy within your team and people that will stay, will stay on.
Information and Articles: http://www.mastersmba.com
Providing Information on various topics, please browse our other Articles for more informative resources, we house information on every topic imaginable so regardless of your needs you can be assured to find the answer here. If you wish to reprint this on your own website, simply click the "Web Version" in the right menu, and you are presented with a pre-formatted document to use.
A lot of the information is written by the Master Article team, and published exclusively on the MastersMBA.com website, and we do our best to research all information to ensure it's as accurate as possible. However at times we also publish documents given to us by other sources, we do examine these documents to ensure they are as accurate and correct as possible however at times they discuss highly specialized fields making it hard to authenticate the validity of every fact in the document. These are written by specialists in their respective fields, and we do trust their integrity and judgment however it's always a good idea when doing any research to consult a number of sources and form your own conclusion based on a number of view points.
