What is the key to developing long-term MLM income? Is it recruiting heavy hitters, joining a certain company, or switching to a new company every few years, and bringing your downline with you to the new opportunity? While those might be certain factors, I believe there are certain things you can do to secure your long-term income in the network marketing industry. I’ll share these tips in the paragraphs below.
It’s a proven fact that it’s cheaper to sell a new product or service to an existing customer than it is to go out and find a new customer. Yet, most distributors ignore this advice and spend most of their time looking for new people to recruit. What a shame!
I think it’s a much wiser idea to invest some time and money cultivating relationships with your current distributors and customers. Rather than spend $50 to find a new customer, why not send two $25 gift cards to two of your current customers? I think this is a much better business strategy. Your customers will enjoy the gift card and stay with you longer, just because you showed some appreciation.
I’ve always admired some of the top Amway distributors who have maintained a large group for 30 or 40 years. One of the reasons they keep their group and team together is because they develop long-term relationships with them. They have meetings, provide business education, offer standardized training, and keep in touch with their group often. More importantly, they build solid FRIENDSHIPS with their team-members. These friendships last years and are almost impossible to break.
So remember, don’t sponsor a new distributor and then forget about them. Call them a few times each month. Send a weekly email and a monthly newsletter. Keep in touch. Send them a Christmas card. Let them know that you care about them as a person too, not just as a distributor. This will have a major impact to the bottom line of your business. Your retention rates will improve and you will make more money.
Another thing you really want to do to develop a long-term income is to team up with a good network marketing company and stick with them for the long haul. When you are constantly jumping around from company to company you lose your credibility and earnings potential. Don’t be a “junkie” in our industry. Stick with ONE company for the long haul.
Another thing you can do to create a long-term income in your MLM Business is to build a HUGE customer base with thousands of customers on your team. Of course, not all of these customers have to be personal customers. But, you want at least 5000 to 10000 customers on your team. You see, distributors quit all the time. But good customers will stick around for a long time, especially if they enjoy the products. Customers will provide your long-term residual income.
Another great thing you can do to have a long-term MLM Income is to have multiple streams of income in your business. As your business grows, it might help you to have a system income, a leads income, and a training income. You could consider becoming a consultant, speaker or coach specializing in network marketing. This just diversifies your business and gives you some added security. It also brands you as a leader and will help you with your recruiting efforts.
The next thing you can do to have a long-term MLM Income is to send out a monthly newsletter every month. This kind of goes hand in hand with my first point, but offering a newsletter is a wonderful way to stay in touch with people every month. You do not want an emailed newsletter either. Create a newsletter on the same day every month and send it out in the mail. This will help you stay in touch with your leads, customers and distributors. Every time I send out a newsletter I make money!
The final and most important thing you can do to develop a long-term MLM Income is to build DEPTH. The real money in this business is in depth. I’d rather have 10 legs 100 people deep than 100 legs 10 people deep! Hopefully you understand what I am talking about. Once you get enough people personally sponsored, spend the rest of your time in depth. That is where you will find your big leaders. That is where the security in this business come from. When you have enough depth in your organization, it doesn’t matter if people quit. Your team will continue to grow.
There you have it folks. These are my best ways to build a long-term MLM Income. I’d love to know what you think. Please leave a comment below to share any strategies or tips that you might have about building a long-term network marketing income. I look forward to hearing from you.