Customer Retention Strategies

Patricia Kagwiria Makhulo went from $3/month to creating a substantial income in the internet marketing industry within a matter of months by implementing the strategies she shares. Her accomplishments serve as an example of what the right training, knowledge and persistence hold in store for those who dare venture to pursue and live their dreams. Patricia knows that internet marketing is truly the way of the future and the stepping stone to financial freedom.

Website: http://www.homepartyplansuccesstips.com

Patricia K. Makhulo

(503) 454-0940

Around 50,000 people will join a network-marketing program this week. Of those people, 48500 will never earn more than they spend on their products and marketing. Of those 50,000, 45,000 will never hear from their sponsor or upline again. If you want to succeed in network marketing you need to know FIRST how to prospect, BUT just as important as prospecting is retention.

Unfortunately, most marketers not only fail to prospect and recruit new downline and customers, most also forget to take action in retaining those downline members and customers.

Statistical data on multiple case studies, indicate that marketers that implement and consistently takes action in applying retention strategies, have their retention of existing subscribers and customers is nearly 10:1 as compared those who do not apply such retention strategies.

We know already that is harder to acquire a new downline member or customer than it is to keep an existing one happy.

Much of the attrition, or gradually wearing down of the organization is due to AWOL sponsors not following up or following through once a prospect joins or buys from them.

REMEMBER, THE FORTUNE IS IN THE FOLLOW UP!

Most of us tend to work and think on a "what's in it for me?" mentality. Achieving your goals is part of leadership. You will also find that going the extra mile and focusing outward and helping others achieve what they want to achieve, you will also achieve what you want to achieve.

WHEN YOU HELP ENOUGH PEOPLE GET WHAT THEY WANT, YOU WILL GET WHAT YOU WANT- ZIG ZIEGLER!

This forms the very foundation of what a customer retention plan is all about. In fact, what is really in it for you if you apply such strategies consistently? Simple - Long term profitability and stability, which means a happy, productive, and duplicating organization!

Now how is that for what is in it for me?

There truly is no traffic jam in the extra mile. You will find yourself in a unique position as a leader when you travel the extra mile with your team.

It is important to understand that although easier than virtually any other business, network

marketing is still a business. There’s no magic ticket and it’s not a get rich scheme. As a business builder, you will find your business very rewarding if you build on a solid

foundation and apply a customer retention strategy.

Without a Downline/Customer retention strategy, you will find your business extremely frustrating. Keep in mind that the retention is the easy part of what we do.

A downline retention plan must be implemented as an ongoing plan for maintaining contact with your organization. The objective is to:

• Motivate

• Educate

• Equip for success

The end result is people stay in longer and more people will rise to become leaders. This will create more long-term stability and profitability in your business.

Will everyone follow you and duplicate? No. In fact, many will ignore your call and even others won't want you calling them.

However, it is critical to show you care and are concerned with their success by making an attempt to communicate.

Remember how you felt when one of your most renowned uplines called you. How special did you feel? Were you motivated to try harder, to do better? Well do you not want the same for your downline and customers?

The First 30 Days are sadly the make or break of your retention strategy! It is amazing just quickly people become impatient, so it is critical that you lay the foundation properly.

When your prospect joins you typically receive notification via email.

"New Subscriber Postcard" with instructions on what they will need to do. This is the first step in your customer retention plan. This should include a welcome to the team note. (Avoid email, now you are in the relationship building phase and you want to maintain live contact, but also be professional).

Within the first 7 days, you will want to:

1. Contact the subscriber by phone to welcome them to your organization.

2. Share your testimonial on how your business or the team helped you achieve your goals.

3. Ask them what their goals are and what they want to accomplish and how you can help.

4. Let them know that you are interested in their success and to contact you when they need guidance with regard to their success!

Post Cards will be a great resource for you, do not ignore the potential that lies herein.

WHY IS A CUSTOMER RETENTION STRATEGY NECESSARY?

• People feel they don't have anything to offer.

• They don't believe in themselves. - Lack skills and confidence.

• They don't really believe in the product/service/opportunity.

• They don't understand the importance of a basic retention plan.

TIP - You must have a plan for the first 30 days of every new downline recruit.

To get off to a good start? Make contact !

Focus on establishing a foundational relationship, which means begin by building rapport. Do you know what they want to accomplish, fix, or avoid?

What is their 90-day goal?

What are their dreams and long-term goals?

What is their budget?

The first 30 days is when you help establish proper expectations, hone prospecting skills, and guide them toward developing a proper game plan.

TIP - Statistics prove implementing a retention strategy consistently improves profitability per subscriber by more than 32% greater than the subscribers without ongoing communication.

What this means is by implementing a retention strategy, you will earn more from each

subscriber. Now tell me that you do not want this!

Attrition: Every Marketers Nightmare!

How to rid yourself of this money-sucking problem and create the income of your dreams.

Statistical data indicate that marketers, who implement and consistently take action in applying retention strategies, have their retention of existing subscribers and customers nearly 10:1 as compared those who do not apply such retention strategies.

1) Build trust. People must first trust you before they will follow your leadership or advice.

2) Great leaders make mistakes. The key to success is taking responsibility when you make mistakes. Never blame others.

3) Time Spent with a customer and your potential leader is an investment in your business.

4) When you believe in your people, you automatically motivate them and that motivation

taps into their personal potential to be the best they can be.

5) People will always tend to grow toward a leaders expectation. Provide encouragement to

Your customers and team. Never expect your team to encourage themselves. Encourage them to reach toward their full potential.

6) Be consistent in all you do.

7) Be a giver of hope. It takes a great leader to give hope to people when they can't find it

Within themselves.

8) People want to do important work. Make your people a part of something worthwhile.

9) Have a vision. The Bible Proverbs teaches...where there is no vision the people perish!

10) People who focus on fears don't grow. Provide an environment of security in your subscribers and potential leaders where they can be nurtured and grow. (Hint :Get them involved).

11) Leaders on your team will rise to your level of expectation. Reward them for there production.

12) Invest in your potential leaders. Remember, stingy leaders produce stingy leaders.

13) Invest in your subscribers. Reward long-term subscribers periodically.

BONUS Strategy for Success - 80% of your time should be spent on 20% of the potential leaders around you!

Remember, success if found in the extra mile. Be a leader that others will want to follow. Develop your leadership skills with consistent action.

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