7 Ways to Improve Your Retention
While I was preparing for this podcast episode, I realized this definitely ranks in the top 10 topics I could talk about for network marketing success.
The industry average for customer retention is pretty dismal… Most companies land in the 9 – 15% range. With a team of thousands of people we have a retention of over 70%. So I feel like this is one area we are doing well in.
My first tip is that you need to know your numbers. It’s super crucial that you Know your numbers! Tracking where you’re at is the only way to know if what you’re doing is actually improving things.
So here are my top 7 tips for improving your retention:
1. Focus on product over opportunity.
Now don’t get me wrong, I LOVE also focusing on the business side of network marketing, it’s what this entire blog is about! BUT without a strong product focus, you won’t have the level of customer loyalty that drives outstanding retention.
You want people to obsess and love your products so much, that even if they decided to quit the business they would be converted to buying the product for life!
2. Send samples of your companies consumable products to new enrollments
Getting samples of your companies consumable products is a great way to lock people into LOVING using your companies products that may have not come in their initial kit.
3. Offer continuing education
A big part of your job as a marketer is to educate! Education is very powerful. You can educate more on your products through online content, local events, or in person 1 on 1’s.
4. Build a community and movement
Never underestimate the power of building a community and tribe around your company. People want to feel part of a movement or a group of like minded people. Building a strong sense of community can keep people around for a long time EVEN if they aren’t making the money that the want just yet.
5. Stay in contact with people
Sit down for 30 minutes every once in a while and send 10 or 15 texts to customers asking them:
“How are you loving your product”
“I appreciate your business”
“What’s your favorite product right now?”
“How can I support you” etc..
Connection keeps you and your products top of mind for people and helps them know they are loved and appreciated.
Remember this is business is all about relationships!
6. Customer appreciation event for loyal customers
Consider doing special events for your loyal customers! This is something we’re success with throughout our team right now.
7. Sit down with your new customers and do a membership overview or “wellness consult”
If you don’t show people how to buy more product, it’s likely they won’t! Makes sure that people know how to use their account, how to use the products they have just purchased and have a clear path for what to do next. We like to setup a 90 day wellness plan with people coming into our business to help bridge them into a lifestyle with our products.
Comment below sharing which one of these tips you are going to start implementing in your business!