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Main Subject - 3 Reasons Why You Fail To Recruit As You Market Your MLM Opportunity
Fact: "90% of network marketers fail within their first 3 to 5 months".
Why is the attrition rate so high in Network Marketing? What can be done about it to curtail this detrimental factor in an organizational downline?
Why is the attrition rate so high in Network Marketing? What can be done about it to curtail this detrimental factor in an organizational downline?
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
If I were to pick a single reason why most people fail to recruit, retain, and have a guaranteed MLM downline is because you are taught to present your products and/or services in terms of how much money your potential
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
prospect could make, you're taught to sell the opportunity instead.
Have you tried to entice a family member or a friend to look at your MLM company based on how much money he or she can make? When you do that, the obv
Have you tried to entice a family member or a friend to look at your MLM company based on how much money he or she can make? When you do that, the obv
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ious and natural question comes up:
Well, how much money are you making with that business?
At that point you have three choices:
1. Lie flat out to your prospect about how much you are making
2. Tell them the truth
Well, how much money are you making with that business?
At that point you have three choices:
1. Lie flat out to your prospect about how much you are making
2. Tell them the truth
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
or
3. Tell them about your upline leader who is making the big bucks
I will never advise anyone to lie to a prospect to get them into your MLM dowline simply because that lie will surface early on. Once that person rea
3. Tell them about your upline leader who is making the big bucks
I will never advise anyone to lie to a prospect to get them into your MLM dowline simply because that lie will surface early on. Once that person rea
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
lizes that you misrepresented yourself, that's it, your credibility goes out of the window and to regain it back is extremely difficult, in many cases, it's just impossible.
If you tell them the truth, they would be lef
If you tell them the truth, they would be lef
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
t wondering...Well, if this business is as good as you say it is, why are you not making those big bucks yourself? How credible your business could be if you yourself are not making it? You can dodge the question, but yo
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
ur prospect will see right through.
The third case is even more damaging to your image because the minute you edify your upline leader as the person who is making all the money, you become a gopher, someone's running bo
The third case is even more damaging to your image because the minute you edify your upline leader as the person who is making all the money, you become a gopher, someone's running bo
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
y in other words.
You become someone who is bringing his/her warm market prospects so that this upline leader grows his/her network marketing downline even larger. I am sure you didn't sign up as an Independent Represen
You become someone who is bringing his/her warm market prospects so that this upline leader grows his/her network marketing downline even larger. I am sure you didn't sign up as an Independent Represen
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
tative to wind up as someone's gopher, growing someone else's organization.
The sad part of leading with the opportunity to recruit someone into your business is that it gives you a false sense of hope, meaning that eve
The sad part of leading with the opportunity to recruit someone into your business is that it gives you a false sense of hope, meaning that eve
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
n if you manage to get that prospect into your marketing downline, the minute he realizes the money does NOT materialize immediately, he will quit the business, leaving you with that feeling of frustration, disappointmen
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
t, and often times with thousands of business dollars totally wasted.
The real issue is...how can you recruit AND retain people in your MLM downline, right?
Answer: By leading with your products and/or with your servic
The real issue is...how can you recruit AND retain people in your MLM downline, right?
Answer: By leading with your products and/or with your servic
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
es.
Sell the merits of those products to the consumers just like any other company that bases its business on the benefits of those products.
If you're selling health and nutrition products for example, identify your m
Sell the merits of those products to the consumers just like any other company that bases its business on the benefits of those products.
If you're selling health and nutrition products for example, identify your m
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
arket, your customers, and target that sector of the market place with your marketing campaign.
Treat the opportunity as a benefit of consuming those products. You need to get a person to become a lover of your products
Treat the opportunity as a benefit of consuming those products. You need to get a person to become a lover of your products
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
first and foremost and then out of that love, that affinity to the product you can get a new distributor.
When you lead with the merits of your products and/or services that shift does two things for you:
1. It ensure
When you lead with the merits of your products and/or services that shift does two things for you:
1. It ensure
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
s your residual income, because now you have a customer, based on his/her affinity to the products/services.
2. Your retention rate goes through the roof because you first build the loyalty by providing a good service/p
2. Your retention rate goes through the roof because you first build the loyalty by providing a good service/p
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
roduct.
That person does not join in just driven by greed like most opportunity seekers. This is how you can increase your retention rate by 40%, 60% and even as high as 80%.
Remember that your compensation is based on
That person does not join in just driven by greed like most opportunity seekers. This is how you can increase your retention rate by 40%, 60% and even as high as 80%.
Remember that your compensation is based on
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
how much of those products or services your customers and MLM downline members consume. It does not depend on how many people you recruit, it's all about customers. It simply depends on the consumption of your products
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
or services.
Bottom line: If nobody is consuming the products or services, then nobody gets paid a dime in your network marketing business.
Introduce the merits of your products and your services first to a hungry co
Bottom line: If nobody is consuming the products or services, then nobody gets paid a dime in your network marketing business.
Introduce the merits of your products and your services first to a hungry co
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
nsumer market, as opposed to seek out greedy opportunity seekers wanting to make a quick buck.
One strategy is based on sound marketing principles while the other one is based on greed, hype, and pure emotional nonsense
One strategy is based on sound marketing principles while the other one is based on greed, hype, and pure emotional nonsense
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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