5Linx distributors: Are you devoted to creating a gigantic business? If that's the case, read this entire article right now.
If you seek to become a top earner, you must go well beyond your circle of friends and family.
It's imperative you master the basics of marketing- like any real business
Below are 3 strategies 7-figure earners taught me I have successfully used to take my business to an entirely new level:
- Accumulate A List And Promote To This List
When all's said and done, building a 5Linx business online entails two activities:
- Establish a list
The list that matters most is not your listing of friends, colleagues and family. We're talking about a list of leads you attract online. Merely tossing some videos up on Youtube or on Facebook will not create 5Linx leads effectively. You must execute a lead attraction strategy that entices prospects to reach out to you and ultimately buy from you.
The key to list-building is positioning yourself as a trusted authority that can assist people to grow their businesses. Attract qualified prospects to a web page where they enter their name, email address and phone in exchange for some valuable free content.
- Market yourself to your list
Keep the lines of communication with your prospects open, so you can promote things that they require in their business. By staying close to your audience, you will be ahead of 99% of marketers who don't invest in building relationships properly. Developing strong ties with your prospects online is the key ingredient to succeeding as a marketer. Publish helpful content, such as blog posts and videos, several times per week. At the close of each piece of content, include a strong call to action for the reader or viewer to buy something from you.
- Build Multiple Streams Of Income
Add other revenue sources to your 5Linx business. There's a lot of risk when you depend exclusively on your 5Linx opportunity. You never know if your top people will leave your downline. Market demand might weaken for your 5Linx product line. The managers of 5Linx might change the policies and procedures in ways that restrict your marketing.
Risk goes down when you diversify your income streams. When you diversify your revenue, be sure to do it in a way that does not distract you from your 5Linx business.
Multiple options exist to add new sources of revenue:
First, sell affiliate products. Sign up as an affiliate to promote the services, courses, and system you use in your business. Promote the affiliate products you feel are best, not just the ones that pay the most. Generally you get paid commissions of twenty to sixty percent.
Another strategy is to take your content and make it into a product. Record the webinars you do and turn them into products. Gather a set of your videos and sell them as a course. Bundle your articles into an ebook.
Another strategy is to provide coaching to your students. Make sure to charge a high enough price for your time.
- Solve Your Attrition Problem
On average 80%-90% of your 5Linx downline will quit within 12 months of getting started. People in companies such as 5Linx are usually taught two methods to solve their attrition issue. But each strategy has problems.
1) Method one is to assist new 5Linx distributors to make money right away, so they get an early taste of success and want to stick around. When you attempt to help EVERY new 5Linx rep in your organization get into profit quickly, you spend LOTS of time helping your worst-performing new reps, the people who can't sponsor anyone by themselves. This takes focus away from your best people, the top 20% of your 5Linx downline that will drive 80% of all your income. Spending most of your time on the weakest 20% of your people just fosters dependency.
2) The other common approach is get your 5Linx team members to feel connected to your team, so the interpersonal connections and sense of belonging the person feels overcomes frustrations that might otherwise make them quit. 5Linx team webinars, live training events, and getting on the phone with your new people can all foster a team experience. This strategy can foster dependency. Many of your weaker-performing team members will stick around because they like being part of the team...But these people will NOT sponsor others by themselves routinely into 5Linx and will require LOTS of team support in order to stay in the game.
You're a business owner, not a group therapist. A totally different approach to addressing attrition is not to try to increase retention, but to make attrition almost irrelevant to your business. To make retention less important to your business, promote affiliate products that can easily add a dozen or more new streams of income. By diversifying your revenue sources, you are not as reliant on 5Linx for income. When you depend less on your downline for income, attrition matters less. A second way to make attrition less important is to promote a high ticket opportunity that pays commissions of $1,000 or more per sale. In contrast, most network marketing comp plans such as 5Linx pay a $50-$100 sign-up bonus for each new rep you sponsor, forcing you to build a large team and build a large residual check to make a full-time income. When you earn $800+ per sign up, you effectively earn 2-3 years worth of residuals up front, regardless whether your new signup endures for 6 days or 6 years. This makes retention a non-issue.
If you seek to become a top earner, you must go well beyond your circle of friends and family.
It's imperative you master the basics of marketing- like any real business
Below are 3 strategies 7-figure earners taught me I have successfully used to take my business to an entirely new level:
- Accumulate A List And Promote To This List
When all's said and done, building a 5Linx business online entails two activities:
- Establish a list
The list that matters most is not your listing of friends, colleagues and family. We're talking about a list of leads you attract online. Merely tossing some videos up on Youtube or on Facebook will not create 5Linx leads effectively. You must execute a lead attraction strategy that entices prospects to reach out to you and ultimately buy from you.
The key to list-building is positioning yourself as a trusted authority that can assist people to grow their businesses. Attract qualified prospects to a web page where they enter their name, email address and phone in exchange for some valuable free content.
- Market yourself to your list
Keep the lines of communication with your prospects open, so you can promote things that they require in their business. By staying close to your audience, you will be ahead of 99% of marketers who don't invest in building relationships properly. Developing strong ties with your prospects online is the key ingredient to succeeding as a marketer. Publish helpful content, such as blog posts and videos, several times per week. At the close of each piece of content, include a strong call to action for the reader or viewer to buy something from you.
- Build Multiple Streams Of Income
Add other revenue sources to your 5Linx business. There's a lot of risk when you depend exclusively on your 5Linx opportunity. You never know if your top people will leave your downline. Market demand might weaken for your 5Linx product line. The managers of 5Linx might change the policies and procedures in ways that restrict your marketing.
Risk goes down when you diversify your income streams. When you diversify your revenue, be sure to do it in a way that does not distract you from your 5Linx business.
Multiple options exist to add new sources of revenue:
First, sell affiliate products. Sign up as an affiliate to promote the services, courses, and system you use in your business. Promote the affiliate products you feel are best, not just the ones that pay the most. Generally you get paid commissions of twenty to sixty percent.
Another strategy is to take your content and make it into a product. Record the webinars you do and turn them into products. Gather a set of your videos and sell them as a course. Bundle your articles into an ebook.
Another strategy is to provide coaching to your students. Make sure to charge a high enough price for your time.
- Solve Your Attrition Problem
On average 80%-90% of your 5Linx downline will quit within 12 months of getting started. People in companies such as 5Linx are usually taught two methods to solve their attrition issue. But each strategy has problems.
1) Method one is to assist new 5Linx distributors to make money right away, so they get an early taste of success and want to stick around. When you attempt to help EVERY new 5Linx rep in your organization get into profit quickly, you spend LOTS of time helping your worst-performing new reps, the people who can't sponsor anyone by themselves. This takes focus away from your best people, the top 20% of your 5Linx downline that will drive 80% of all your income. Spending most of your time on the weakest 20% of your people just fosters dependency.
2) The other common approach is get your 5Linx team members to feel connected to your team, so the interpersonal connections and sense of belonging the person feels overcomes frustrations that might otherwise make them quit. 5Linx team webinars, live training events, and getting on the phone with your new people can all foster a team experience. This strategy can foster dependency. Many of your weaker-performing team members will stick around because they like being part of the team...But these people will NOT sponsor others by themselves routinely into 5Linx and will require LOTS of team support in order to stay in the game.
You're a business owner, not a group therapist. A totally different approach to addressing attrition is not to try to increase retention, but to make attrition almost irrelevant to your business. To make retention less important to your business, promote affiliate products that can easily add a dozen or more new streams of income. By diversifying your revenue sources, you are not as reliant on 5Linx for income. When you depend less on your downline for income, attrition matters less. A second way to make attrition less important is to promote a high ticket opportunity that pays commissions of $1,000 or more per sale. In contrast, most network marketing comp plans such as 5Linx pay a $50-$100 sign-up bonus for each new rep you sponsor, forcing you to build a large team and build a large residual check to make a full-time income. When you earn $800+ per sign up, you effectively earn 2-3 years worth of residuals up front, regardless whether your new signup endures for 6 days or 6 years. This makes retention a non-issue.
About the Author:
Ricardo Interpemian has taught thousands of people how to grow businesses like 5Linx.
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