A month ago, we started an important discussion initiated by network marketing millionaire and author Pat Petrini on reinventing the network marketing business model.
Read the previous posts:
– What’s Wrong with Network Marketing – and How to Fix It
– Reinventing Network Marketing – Part 2: The P-Word
– Reinventing Network Marketing – Part 3: Marketer-Centric Model & the Boom-Bust Cycle
– The Suck List: What “Sucks” About Network Marketing
“….I’m not just talking about what is wrong and why it is wrong. I’m also giving very clear ideas on how we can fix it……
I hope that it will be a thought-provoking catalyst for discussion among people who care about the future of network marketing.”
Today, we give you the final two videos in the series, where Pat provides an outline of what he thinks marketers should look for before joining a company – and what founders and executives should consider when building one.
Part 6 – What a Marketer Should Look For…
- First ask yourself, “Do I trust the people I’m joining?”
- If the answer is yes, look for these factors:
- Customer retention rate – don’t tell me how good your product is, show me the numbers.
- What are the real earnings? Are salespeople making real money from real customers vs. marketers’ forced consumption?
- Is there a customer experience that’s different from the marketer experience? Both need different messaging!
There are plenty of other factors, but these are the most importan ones that are less talked about.
Part 7 – Two Guiding Principles and Wrap Up
- No one should be required to order product unless they want it (no need to incentivize you to do so in the compensation plan). If all network marketing companies abide by this rule, the upshot would be a happy government, a sustainable business, and the end of the boom-bust cycle.
- Marketers should be joining for the opportunity to acquire customers, not marketers. “I can sell the bejesus out of this product, because it is so GOOD!”
- Commissions from marketers should be icing on the cake. Most people on your team shouldn’t be marketers, as they might tarnish your brand with their inexperience or lack of professionalism. You want a small team of smart marketers who are enhancing your brand!
With that, we come to the end of the video series on Reinventing Network Marketing. However, the discussion has just begun and needs to continue if we want to make network marketing an even more effective and sustainable business model.
Please share your thoughts on the changes you would like to see. Join the discussion on our Facebook page.