Retention in MLM network marketing refers to keeping new business partners active in the company for an extended period of time. A sad fact about our industry is that on average, three out of four new distributors lose interest in their first 90 days and quit the business. A whopping 90% of new distributors do not make it through their first year! This leads to a major drain on your income because retention is where the long-term residual income in the MLM network marketing industry comes from. The good news is that even a modest increase in your retention rate can lead to a huge increase in your income. It is important to note that of those who do quit, more than half of them do so in the first 90 days in business. This is why it is critical to start new team members the right way on day one and help them have success in their early days in business. Early in my career, I spent most of my time on prospecting and sponsoring, and became known as a top enroller in the MLM network marketing industry. But, for the last several years, I focused more on retention. I found the results to be almost immediate and long-lasting, too. Increasing retention has had a greater impact on increasing my monthly check than the number of new people I recruit each month. Much of our team training now focuses on retention. Here are the keys to increasing retention in your MLM. 1. Enroll the right people the right way. We teach our team to enroll prospects that ask to join the business. We do not teach our team to use warm-market methods like pitching friends, neighbors, and relatives as they usually are not even interested in the business. We do not teach our team to sell or close prospects into the business. When you have to close people to get them in, you'll have to close them over and over again. They are the first ones to drop out. 2. New team members need to submit their goals in writing. Make sure their goals are realistic. These goals will be used to measure their success. Each team member's success is measured against their own goals. 3. Fast start approach. New team members need to make money early in their career for both their belief in the business and for credibility with others. Nothing helps retention more than making money quickly! 4. Be a true servant-leader. Put helping new business partners before everything else, even your own recruiting. Live up to your commitment to be available for your new business partner. Encourage business partners to reach your upline in your absence. 5. Proper communication. Provide necessary information, without flooding new partners with information overload. Team emails from an autoresponder have proven to be an effective way to keep partners in the game and help them get back on track if they've become sidetracked. 6. Recognition. For many people, recognition is an even bigger motivator than money. Even quick recognition like a telephone call is important. Recognition in front of a group has been an industry standard for years. Find ways to recognize business partners regularly. 7. Training. Proper training is critical to improving retention. We provide training via a mix of live webinars, recorded webinars available 24/7, training videos, email series, and individual coaching. Devote more energy to retention in your MLM network marketing business. It will lead to a big increase in your long-term residual income.
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MLM retention is too low. Discover how to increase retention in your MLM.
Joe Barclay is an expert at showing others how to quickly, easily create success online. Read this and other increase MLM retention articles at his website. Be part of the company and team with maximum retention at wireless business opportunity.
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