Network Marketing Success Metrics
I’ve said it over and and over again: creating network marketing success is simple, but it’s not easy! One simple strategy you can implement to create the success you’re looking for is to simply be aware of your numbers; your success metrics.
Network Marketing Success comes down to 3 core activities: Prospecting (finding people to talk to), Presenting (talking to the people you find) and Duplication (helping those who choose to join you get off to a fast start by teaching them to do what you do). If you can learn to track these activities you can build your business to whatever level of network marketing success you desire. It’s all about knowing your numbers.
Here’s what I mean:
In order to be able to track your network marketing success metrics, you need to know the answers to the following questions —
- How many people do I need to invite to take a look at my business opportunity in order to have ________ agree to watch the presentation?
- How many people do I need to show the presentation to in order to have _________ who choose to join me?
- How many people do I need to enroll in order to have _________ who actually “do something”?
This quote from Bill Britt, a multi-millionaire and top earner in Amway sums it up perfectly:
“There is no secret. I simply showed the plan to 1200 people. 900 said “No” and only 300 signed up. Out of those 300, only 85 did anything at all. Out of those 85, only 35 were serious and out of those 35, 11 made me a millionaire.”
Network Marketing success is a numbers game. And if you want to know how to play to win, you MUST know your numbers!
I love this article by Richard Brooke, a top mentor in the network marketing profession. It provides another excellent example of the numbers it takes to create network marketing success!
You may be at a point in your own business where, even if you don’t know your numbers right this second, you can easily look up your own results and calculate them. If that’s not you though… if you have NO IDEA where to even BEGIN in calculating your numbers, don’t panic! The numbers in Richard’s article provide a great formula to start with:
Richard has interviewed a LOT of very successful network marketers. In fact, he interviews a new one almost every week on his Hero Calls. By listening to those calls I’ve noticed the truth he points out in this article… by sponsoring 100 people who at least have the “intention” to be business builders (not wholesale customers) in 2 years, you can create a team that pays you $10,000 per month.
This sparks the next question, which is how do you sponsor 100 people in 2 years?
Richard’s formula is simple:
To sponsor 100 people in 2 years, do 3 presentations per week. And to do 3 presentations per week, simply invite 14 people each week to take a look.
You definitely want to read Richard’s article to get the whole story, but by starting with this formula you will be well on your way to creating whatever level of network marketing success you desire!
By tracking your weekly activity (ie: how many people do I have to invite to get ___ presentations, and how many presentations do I have to do to sponsor ____ people), you will develop your own network marketing success metrics. You’ll likely find your metrics improve as your skills improve, at least to a certain point. No matter HOW GOOD you get at the skills though, network marketing success will ALWAYS be a numbers game! But when you know your numbers, you can play to win!
Jordan Maylea Ramirez
PS: If you did the math, you realized that if you need to invite 14 people to get 3 presentations, you’ll have 11 people per week who tell you no. And another 2 out of 3 won’t choose to join you, even after they’ve seen the presentation! Here’s the thing: Knowing your numbers makes this rejection a LOT easier to swallow… but if you want to develop the motivation to make it for the long haul, to really be able to talk to enough people so that you can sponsor 100 in 24 months, you need a clear VISION to keep you going!
I’ve created a fantastic tool to help you create your vision called the My Perfect Day Workbook. This tool will help you craft a clear vision of success that will keep you motivated to take daily action in your business. To download your FREE copy of the My Perfect Day Workbook, simply enter your name and email below!
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