Anyone who has recruited more than a couple of people into their organization have experienced the "revolving door" syndrome - where you recruit one person and it seems two others drop out. Obviously, this is frustrating and makes you wonder why it is so difficult to get your downline to stay active. It is even more frustrating to see people leaving faster than you can recruit them. Realize this happens in every business that fails to implement the one often forgotten element of retention.
Too often we are so caught up in recruiting new downline that we forget about the downline we already have. We focus all of our energies on the toughest part of building the business which is recruiting. Yet we forget to take action on the easiest part: Follow-up customer service.
While follow-up customer service may seem difficult to get to sometimes, it is extremely important for future growth and improving your retention rates. The number of people in the downline who drop out should not be dropping out like they are. People drop out because they are often ignored or forgotten by their up line.
Your goal should be to improve the retention within your own team and to make your customer service to your downline a priority. It is far more difficult to recruit new downline than it is to follow-up and follow-through with those you already have.
Below are seven things you MUST do to ensure your "revolving door" in your organization stays locked and to keep your downline active for the long term:
1. Implement a customer service policy. If you truly want to build a solid and profitable network marketing business, you need to implement the following policy: Provide service and follow-up to your downline.
2. Follow-up is following-through. Just because someone signed on the dotted line, does not mean the sale is complete. You must follow-up with your new downline within one week. Call them within one week of their purchase to ensure they are happy and are using the product/service. If they are wanting to build the business, call to make certain they are tapping into the resources and getting off to a good start.
3. Staying in contact shows you care. In your prospecting and recruiting efforts, you planted seeds to start the relationship building process. Stay in touch with your downline. Doing so will show you care and value their business. Staying in touch will also provide you with an opportunity to get additional business and to strengthen the relationship.
4. Anticipate the needs of your downline. By staying in contact, you can anticipate or stay ahead of your downline needs. You will strengthen your relationship and will more fully understand their current needs. This ultimately leads to anticipation of future needs. Try to always think ahead. This will help you keep your downline happy, satisfied and even can help you to exceed expectations.
5. Keep records on your downline. As your business grows, it will become impossible to keep all downline information and individual needs in your head. You must create customer files with personal information on your downline. This information should include notes on your conversations and on their current or potential needs.
6. Work closely and be supportive. No one is guaranteed success. However, you will be amazed at how high of a success rate you will have with those you personally sponsor when you work closely with them and are supportive of their efforts. Granted some people will never do what they need to do and you can't build the business for them. But, if you provide support and show you care, you improve the retention of your downline.
7. Create intimacy with your downline. What this means is to be genuine in your concern for your downline as a person. Show them you are not just in it to get their money. You must go beyond just an order taker and help people get what they want and need. The difference between you and your competition boils down to one thing - customer service. If you provide value through concern for them as a person and deliver quality customer service in every way possible, you will find your downline will be there for the long term.
Keep in mind, the stability of your residual income will be in direct proportion to your personal follow-up and customer service. Make follow-up and customer service your PRIORITY! As you build your business in the future, make certain you follow-up and follow-through with customer service. Your wealth depends on it!
Long Term Disability Payments
1. An indemnity long term care insurance policy has a fixed amount of benefits. There is a cap on this. Unlike an inflation policy this amount will cap out at a certain amount.
2. The long term care insurance cost for the monthly payment is always the same. If you are on a fixed budget and you cannot afford a changing or increasing monthly payment you most likely will benefit from this type of plan. Your payment will remain the same regardless of the type of expense that has occurred.
3. An expense incurred plan reimburses you the amount of money you have to pay for care up to the benefit amount you have paid into. For example, if your benefit amount is $300 a day for long term care and you need someone to help you twice a week at $100 a day you will be paid the full $300 amount. Many plans will leave the money in your account or your pool of benefits available for you. Some will cut you a check.
4. An indemnity plan will only pay the long term care insurance cost only if a medical expense was incurred also. If there is no medical expense then the benefit amount will not be paid to you.
5. An indemnity monthly payment is what you want it to be because you have the ability to choose the amount of benefits you want to have per day, month, week, etc. When you get a long term care insurance quote you can specify the amount of benefit when you get the policy. Many people base this on their income and what they can afford to put into their long term care.
6. As you can with other long term care policies you can share an indemnity policy with your spouse. You can pay a monthly payment into the policy and use it accordingly if either of you should need any type of long term care.
An indemnity long term care insurance quote looks much nicer to people than an inflation quote because the payment remains the same throughout the lifetime of the policy or you.
Both John Patton & Terry Stanfield are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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