Monday, September 10, 2012
Amway distributors: Are you dedicated to creating a huge business? If you are, read this entire article right now.
If you seek to become a top earner, the way to do it is to implement a promotional plan that puts your message in front of thousands of people - not merely a handful of friends, family members and people you know.
You have to learn how to market- like a REAL business!
I've been groomed by 6 and 7-figure income earners who taught me the following strategies we quietly use to build large businesses:
- Make Attrition A Non-Issue
More than 80 percent of the people in your Amway organization will quit the business within the first year. People in companies such as Amway are usually taught two methods to solve their attrition issue. But each strategy has problems.
1) Method one is to assist new Amway distributors to make money right away, so they get an early taste of success and want to stick around. When you attempt to help EVERY new Amway rep in your organization get into profit quickly, you spend LOTS of time helping your worst-performing new reps, the people who can't sponsor anyone by themselves. This takes focus away from your best people, the top 20% of your Amway downline that will drive 80% of all your income. Spending most of your time on the weakest 20% of your people just fosters dependency.
2) The second approach is to get your Amway downline members to feel part of the team, something bigger than themselves, so they want to stay part of the group. Live team events, Amway team conference calls, and one-on-one coaching can foster a sense of team. This approach can get people to rely on you to motivate them. Many of your weaker-performing team members will stick around because they like being part of the team...But these people will NOT sponsor others by themselves routinely into Amway and will require LOTS of team support in order to stay in the game.
You're a business owner, not a group therapist. A contrarian but effective approach to the attrition problem is to revise your business model not to boost retention, but rather to make retention much less important. To make attrition less of a problem, promote affiliate products to your prospects, which can easily add more than 10 affiliate income streams to your business. By diversifying your revenue sources, you are not as reliant on Amway for income. When you depend less on your downline for income, attrition matters less. A second way to make attrition less important is to promote a high ticket opportunity that pays commissions of $1,000 or more per sale. In contrast, most network marketing comp plans such as Amway pay a $50-$100 sign-up bonus for each new rep you sponsor, forcing you to build a large team and build a large residual check to make a full-time income. If you earn a commission of $800 or more each time you sponsor a new rep, it's like you're earning 3-4 years of residual income checks up front, so it doesn't matter if this new person quits, because you get paid so much up front. This makes retention a non-issue.
- Be Magnetic
Being a magnetic sponsor is about compelling prospects to seek you out and sign up with you in Amway. This is totally different than what Amway reps are usually taught, which really amounts to chasing people down. In order to really be attractive to prospects, you must first be credible. You must demonstrate to prospects you are someone who can assist them to solve their various business problems.
Build your credibility by teaching. Teach valuable tactics and skills on your blog, in your emails, and in Youtube videos. The second tactic is building a list. Your blog, videos and Facebook updates should induce people to provide you their name and contact information.
The third strategy is to build up a following. You can build up a large base of followers and grow a big Amway business. Your fans are people that read everything you publish online, every day. These are the easiest people in the world to sell to. Establishing trust is a magnetic sponsor's fourth tactic. You must keep it real. Always be authentic. Focus on teaching really valuable strategies. market every day with valuable content. Do not be infrequent in your communications. When you are a magnetic sponsor, prospects will approach you to join your Amway business.
- Make Money Promoting Affiliate Products
Affiliate products are training products and online marketing systems that pay a commission on each sale. Promote marketing systems, courses and ebooks that teach network marketing or internet marketing tactics. Promoting affiliate products will yield many benefits for your Amway business.
Second, people who have purchased something from you before are MUCH more likely than typical prospects to become interested in your Amway business. These customers have indicated they're willing to spend money on their business, their not just window shopping.
Even if your Amway opportunity is not an interest, you still come out ahead. You earn commissions from the large percentage of prospects who choose not to join your Amway business. You can make a lot more money when you add affiliate products to your business.
Some affiliate products are recurring sales, such as membership websites. It's often easier to generate residual income from selling affiliate products than it is to spend years building a big network marketing downline. Finally, by selling beneficial marketing tools on the front-end, you differentiate yourself. You won't resemble all the network marketers who just hard sell their business opportunity to anyone and everyone. You'll seem like an authority and valuable guide, not just a promoter. You are likely to end up recruiting many more Amway distributors by leading with the sale of affiliate products.
If you seek to become a top earner, the way to do it is to implement a promotional plan that puts your message in front of thousands of people - not merely a handful of friends, family members and people you know.
You have to learn how to market- like a REAL business!
I've been groomed by 6 and 7-figure income earners who taught me the following strategies we quietly use to build large businesses:
- Make Attrition A Non-Issue
More than 80 percent of the people in your Amway organization will quit the business within the first year. People in companies such as Amway are usually taught two methods to solve their attrition issue. But each strategy has problems.
1) Method one is to assist new Amway distributors to make money right away, so they get an early taste of success and want to stick around. When you attempt to help EVERY new Amway rep in your organization get into profit quickly, you spend LOTS of time helping your worst-performing new reps, the people who can't sponsor anyone by themselves. This takes focus away from your best people, the top 20% of your Amway downline that will drive 80% of all your income. Spending most of your time on the weakest 20% of your people just fosters dependency.
2) The second approach is to get your Amway downline members to feel part of the team, something bigger than themselves, so they want to stay part of the group. Live team events, Amway team conference calls, and one-on-one coaching can foster a sense of team. This approach can get people to rely on you to motivate them. Many of your weaker-performing team members will stick around because they like being part of the team...But these people will NOT sponsor others by themselves routinely into Amway and will require LOTS of team support in order to stay in the game.
You're a business owner, not a group therapist. A contrarian but effective approach to the attrition problem is to revise your business model not to boost retention, but rather to make retention much less important. To make attrition less of a problem, promote affiliate products to your prospects, which can easily add more than 10 affiliate income streams to your business. By diversifying your revenue sources, you are not as reliant on Amway for income. When you depend less on your downline for income, attrition matters less. A second way to make attrition less important is to promote a high ticket opportunity that pays commissions of $1,000 or more per sale. In contrast, most network marketing comp plans such as Amway pay a $50-$100 sign-up bonus for each new rep you sponsor, forcing you to build a large team and build a large residual check to make a full-time income. If you earn a commission of $800 or more each time you sponsor a new rep, it's like you're earning 3-4 years of residual income checks up front, so it doesn't matter if this new person quits, because you get paid so much up front. This makes retention a non-issue.
- Be Magnetic
Being a magnetic sponsor is about compelling prospects to seek you out and sign up with you in Amway. This is totally different than what Amway reps are usually taught, which really amounts to chasing people down. In order to really be attractive to prospects, you must first be credible. You must demonstrate to prospects you are someone who can assist them to solve their various business problems.
Build your credibility by teaching. Teach valuable tactics and skills on your blog, in your emails, and in Youtube videos. The second tactic is building a list. Your blog, videos and Facebook updates should induce people to provide you their name and contact information.
The third strategy is to build up a following. You can build up a large base of followers and grow a big Amway business. Your fans are people that read everything you publish online, every day. These are the easiest people in the world to sell to. Establishing trust is a magnetic sponsor's fourth tactic. You must keep it real. Always be authentic. Focus on teaching really valuable strategies. market every day with valuable content. Do not be infrequent in your communications. When you are a magnetic sponsor, prospects will approach you to join your Amway business.
- Make Money Promoting Affiliate Products
Affiliate products are training products and online marketing systems that pay a commission on each sale. Promote marketing systems, courses and ebooks that teach network marketing or internet marketing tactics. Promoting affiliate products will yield many benefits for your Amway business.
Second, people who have purchased something from you before are MUCH more likely than typical prospects to become interested in your Amway business. These customers have indicated they're willing to spend money on their business, their not just window shopping.
Even if your Amway opportunity is not an interest, you still come out ahead. You earn commissions from the large percentage of prospects who choose not to join your Amway business. You can make a lot more money when you add affiliate products to your business.
Some affiliate products are recurring sales, such as membership websites. It's often easier to generate residual income from selling affiliate products than it is to spend years building a big network marketing downline. Finally, by selling beneficial marketing tools on the front-end, you differentiate yourself. You won't resemble all the network marketers who just hard sell their business opportunity to anyone and everyone. You'll seem like an authority and valuable guide, not just a promoter. You are likely to end up recruiting many more Amway distributors by leading with the sale of affiliate products.
About the Author:
Eduardo Kooliantra has coached thousands of people how to build businesses. Visit his website to improve your Amway Products venture.