Network Marketing Reps Retention: Top 6 Elements

Network Marketing Reps Retention

Network marketing attracts more and more people nowadays. This business model is notable for its low cost of entry, flexibility, and high direct and passive income. Its key functions also are branding, job creation, innovation, and increasing liquidity in the context of selling products in cash. 

Everyone can become an independent salesman who earns money by selling goods and recruiting new members while making a network bigger. The longer is the network marketing chain, the more profitable business for each representative is. 

 

Key Functions of Network Marketing

Reps Recruiting VS Retention

To scale up your network, you need to understand the difference between recruiting and retention on your team. A good leader with a multi-dimensional approach never offsets the balance of salesmen’s acquisition and retaining. Recruiting is only the introductory phase of involving new teammates in your marketing process. But retention is about building your network with strong independent representatives with high sales and profit objective achievements.

Recruiting & Retention Are Both Critical for network Marketing

Why Retain Your Team?  

Successful direct sales and MLM companies know well that reps’ retention is critical for their high-performance rates. If you fire up your team and provide them all the do’s to move further, a number of willing ones to quit your network marketing company will be extremely minor.

Retention is preventive measure number one for your business if you do not want to have a reps’ team similar to a leaky bucket. Make your business bucketful without the loss of representatives that cannot be covered by signing more and more leads at once.

Leaky Bucket Theory

Leaky Bucket Theory

Top 6 Elements of Reps Retention to Take into Account

To make your business grow, you need to have an idea of how to retain your teammates and do not let them quit your team. If you are interested in your business growth and increased sales, it is necessary to understand the basic elements of network marketing reps retention right today. 

1 – Onboarding

According to the Sales Management Association research, network marketing campaigns with a well-thought onboarding approach have 10% higher sales and 14% better object achievement in the context of selling products and generating profit. It goes without saying that the onboarding process is required for reps’ retention as well. 

Onboarding New Sales Reps

Onboarding New Sales Reps

Leaders should pay attention to new salesmen in their teams to retain and convert them into successful distributors. The most efficient onboarding strategy should include the following stages:

  1. A head-start with the help of welcome package provision.
  2. Clarification of the company’s history, purposes, and mission.
  3. Clear explanation of company’s offering, values, profits for salesmen.
  4. Provision of other relevant and publically available corporate information.
  5. Initial conversations with newcomers to answer all possible questions at the very beginning.
  6. Guiding leads through all the processes and setting first-time-based goals.
  7. Establishing clear checkpoints to check the progress of new reps.

Note that onboarding should exclude overpromising speeches and any hype. One of the most popular influencers in network marketing Matt Morris states that missed expectations of representatives are the first reason why people quit their teams. 

Missed Expectations Are the Main Reason People Quit Network Marketing

Missed Expectations Are the Main Reason People Quit Network Marketing

Over-inflation of your products and services always leads to false expectations of your leads and standing distributors. Prevent a massive fail-out and do not over-promise to retain your reps.

2 – Set Up Feedback Process

Effective feedback provided by the leader really matters for the retention of reps. It is necessary to balance both good and bad points of view concerning the performance of these and those representatives. No one likes constant critics and pessimistic outlooks only. Try to find the best ways to bring positive reinforcement and motivate your team. 

Feedback Culture Is Required in Network Marketing

Feedback Culture Is Required in Network Marketing

Teach your reps to react adequately when it comes to constructive criticism in feedback. But do not forget to note all achievements and any progress to encourage teammates. Among other necessary rules of effective feedback are:

  • Provision of specific feedback – do not use only general phrases and complaints. It is better to specify goals for a week, quarter, month. Your feedback should contain goals that will help you measure the productivity level of your reps.
  • Constructive feedback based on consistency and reality – never be fond of daydreams. It is better to focus on realistic metrics and consistent results to analyze. Your feedback should be constructive and motivational at the same time. If you are not glad about reps’ results, show the way to change the statistics and set time-urgent goals.
  • Provision of forward-looking messages – forethoughtful feedback represents you as a good and wise leader. If your reps know why and how to move forward, they will be easily retained. Set forward-looking goals that are difficult to reach. But show your reps that it is real to achieve these results if they are going to work hard.

3 – Continuous Communication

Communication is a very powerful weapon when it comes to reps’ retention. With the help of continuous interactions with teammates and distributors of any level of selling performance, leaders can improve team culture, mentality, and even create a solid network marketing community. Send tutorial, motivation, funny content to the corporate and private chats, arrange personal and online meetings, and try other ways to improve networking. 

Constant communication also shows your representatives that all their actions are guided and controlled by you. Demonstrate your leadership together with respect, support, attention to detail, and small victories. People value such an approach and always quit projects when communication is absent. 

4 – Loyalty Programs

This is the most common misconception that loyalty programs are designed only for customers. Network marketing is impossible without rewards for reps’ efforts and achievements. Provide commissions and bonuses to your high-performers and inspire them for new long runs. 

Loyalty Programs Retain Reps 

Loyalty Programs Retain Reps

The loyalty program helps leaders to retain representatives, engage teammates, and increase business profit. Everyone who deserves appreciation should get it. The loyalty program should highlight corporate values and social responsibilities. This is the way your team feels safe and well-protected. 

5 – Corporate Responsibility Programs

This is an awesome idea to embed corporate responsibility into practice through special-purpose programs. Your reps will see the impact your company has on society and other spheres of life and take part in events according to the corporate responsibility program. It operates in an absolutely sustainable way, so retention of reps takes place as well.

The corporate responsibility program can include the following practices:

  • Employment and management of the workforce.
  • Volunteering and social initiatives.
  • Corporate governance and legal measure.
  • Ethical culture and socialization.
Corporate Social Responsibility: Resources, Goals, Sustainability, Sincerity, Ethics

Corporate Social Responsibility: Resources, Goals, Sustainability, Sincerity, Ethics

Note that corporate social responsibility programs are about ethics, sincerity, new goals, and sustainable approaches. 

6 – Education

Your reps should train all the time and get new insights regularly. This way they can skip the feeling of making no headway. Digital transformation will be helpful for training activities of any kind. 

Cotano Omnichannel Automation for Reps Education and Retention

Cotano Omnichannel Automation for Reps Education and Retention

Use online tools to make the educational process faster, well-controlled, and more effective. Onboard and train your reps with the help of automation software like Cotano. Use ready-done templates and create customized tutorial materials that are accessible 24/7.

Retention of reps is about unlocking your residual income flows and improving your salesmen’s network. Combine all the above-mentioned six elements for the most efficient strategy to retain your representatives.