Are You Ignoring This Critical Element in Your Network Marketing Business!

April 15, 2010

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key_successSo there seems to be this problem in network marketing…where people actually forget about that second word in the opportunity that they’ve chosen which is MARKETING!

Now it’s not so much that they forget that they’re supposed to be marketing, but they forget a crucial element in that marketing that makes all the difference in the world, and that element is CONVERSIONS.

What happens is people hear over and over that marketing is a numbers game, so what they’ll do is try and increase the numbers. They need more leads, more people to talk to, more traffic to their website, etc. More, more, more…but what they don’t understand is that if they don’t have a system that is converting then no matter how many more people they talk to or how much more traffic that they send to their site, it’s not going to matter.

So if you’re not focusing on conversions in your network marketing business then you need to start right now.

The first thing that you need to do is figure out what your conversion rates are right now. This isn’t as hard as you may think. Simple math will give you a good idea of where you’re at.

Of course it’s going to depend on your main method of marketing your network marketing business.

So for instance if you’re mostly building offline, then you need to figure out how many people you’re talking to each week or month and how many of those that you close. The bigger the number the more reliable! So if you go back and see how many prospects that you’ve talked to about your business in the last month and then how many you’ve closed you can figure out the percentage. (Just take the number closed and divide it by the number spoken to).

Now if you’re working online mostly this becomes a bit easier. There is tracking software that you can use. If you’re using a squeeze page and an auto-responder service such as Aweber, then you’re able to track at the optin box level.

So you’ll be able to see the number of displays, as well as the conversion rate of submissions. You want to shoot for a 30% optin rate, and then tweak from there to try and increase it, but use 30% as a base.

Now you’ll also want to track the number of subscribers you get by the number of sign ups. You can track that by going to your “Reports” page in Aweber and see how many sign-ups you’ve gotten on a particular month to your squeeze page, and then get your number of people you’ve sponsored into your business.

Next you’ll again just divide the number of sponsored by the number of subscribers to see your conversion rate from subscribers to sign ups. Of course you want this number as high as possible, but for a base you should shoot for about 10%…and then of course tweak from there.

Tweaking means that you can increase various things like your auto-responder messages, your phone scripts when you call the people, etc. You should always be improving these things.

The good news is that your business will never be worse than it is today if you know your numbers. But you can’t know what you need to improve on until you know where you’re starting from. Then instead of being scatter brained and trying a zillion different things to grow your network marketing business, you can focus on the things that you KNOW you need to improve on. You then can master that thing and move onto the next.

The fact is that it’s the people who are looking at their network marketing businesses this way who are the ones who are seeing phenomenal success through and through.

Knowing your numbers is vital, and is the reason that fortune 500 companies spend millions of dollars hiring staff and consultants to work on this year around. In fact your network marketing company is likely spending a great deal of money on always knowing their conversion rates.

It’s time you start to do the same for your network marketing business, and watch your business begin to soar.

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