Up till now we have mostly talked about creating and maintaining MLM relationships with your downline team. Obviously, you can’t have an MLM business without a downline team. But there is more to this MLM Success Secret. It is the relationship with your MLM customers.
The Unknown MLM Success Secret
One thing that attracted you to your Network Marketing company was the product, right? If the product (or service) was attractive to you, then it will be attractive to some other people too. You will need customers who are not in your Network Marketing business. Having customers is what builds your residual income. Teaching your downline team to have customers outside the business will build their income and yours. Not everyone you talk to will join your business, but they may be interested in your product. Coaching and communicating this is part of the value you bring.
This MLM Success Secret Is Not really A Secret
In traditional business, this customer relationship is analyzed 6 ways from Sunday. Once you get a customer, it is very important to keep that customer. Exact statistics vary, but existing customers buy more than new customers, and it costs a whole lot more to get a new customer than it does to keep one you already have. It is the same for MLM. I have seen figures that show repeat customers will buy between 33% and 67% more than new ones. I have read that it costs six times more to sell to a prospect than to an existing customer. You also get more referrals from existing customers. Don’t forget that most companies loose customers because the customer feels neglected or taken for granted. MLM relationships are not any different. This MLM Success Secret isn’t really a secret to anyone who has ever been in sales.
Finding And Keeping MLM Customers
1. Networking: This is meeting people and creating a network. Yes, I am talking about face to face. You find out what they do and they learn what you do. If you are creating enough leads with your Attraction Marketing System, you may want to network to build a potential customer list rather than a business opportunity prospect list. Results don’t happen overnight. Building MLM relationships is a 2 way street. You have to help someone else before you can expect help.
2. Communication: Do you remember everyone you got a business card from 3 months ago? Well, they don’t remember you either. Send a quick email note the same day you got the card. This will reinforce who you are. Let them know you will add them to your newsletter list. Newsletter? What newsletter?
3. Internet Marketing: Give away free information and insight to customers and potential customers in an email newsletter. You can do something similar with a blog. This is great for shoestring budgets. Can your product save them money? Solve a problem? Don’t pitch, inform!
4. Loyal MLM customers will become your best sales reps: Once they trust you and your product or service, they will tell others.
Too many people think only about recruiting and sponsoring. The unknown “MLM success secret” here is finding and keeping customers. We need customers for those products our companies sell. Remember the business is called Network Marketing as well as MLM. The key word here is “network”. Create relationships. Create customers. Create networks.
