A Coach That Is Always There: Your Secret Advantage In Referral Marketing
The referral marketing space is changing quickly.
Only 20 years ago, if you were in direct selling, network marketing, or a party plan program, you were one of only a few options for ‘extra’ income to the millions of men and women seeking a side-gig a few hours a week to support their families.
Today with the advent of the gig economy, referral marketing companies have to compete with all ‘gig’ opportunities from the wide spectrum of affiliate marketing, Door Dash, or even Airbnb.
Gig opportunities around the globe leverage technology and smart platforms that create platforms where participants have the confidence to do the work and earn an income without a large commitment to training.
How can direct sales compete for promoters’ attention in a world of so many options?
Referral marketing companies will only win if they to can create platforms that give promoters the confidence that “I can do this” without a large barrier to entry.
Look at your current opportunity and ask the big questions:
– What is the average amount of money per hour you’d expect a member to earn once active?
– How many hours of training would you expect an average member to have to go through before they could earn this hourly target?
Example: If an average member can earn $25 an hour promoting your products and services after only 20x hours of training, are they going to invest in your program or go to a competitor where they can earn the same hourly income with only 5x hours of training?
The micro-entrepreneurs that you’re seeking to recruit to promote your products and services are constantly measuring the exchange of their time for the money brought to their family.
So how are referral marketing companies setting themselves apart?
Just as the gig economy companies have leveraged technology to create a path that gives their members the ‘you can do this’ confidence, direct selling companies are creating platforms that feel like a coach who is always there.
For decades, mentorship has been key to direct selling organization. Mentors(the sponsor) has the responsibility of training, coaching, and leading each new team member to duplicate and create success in their own organization.
The truth is mentorship takes time. There is a ‘base level’ amount of success today that promoters in direct sales need to achieve ‘regardless’ of the level of mentorship and growth coming their way for the team member to stay active in the program. This ‘floor of income’ is set by competition from the gig economy.
Predictive action applications are changing the way sales training is done and even creating platforms that gamify your members embracing the daily habits it takes to win in referral marketing.
When deployed correctly, the predictive action application feels like a top leader sitting next to the newest person on the team, coaching them on what to do next in the given moment.
As an example, the platform could notify the seller that “John has not reordered his products in the last 45 days and is running out, follow up and ask him if he’d like to place an order.” When the team member taps to take action following up with John, the platform can even pre-write a suggested message of what to text John to invite him to re-order.
Would you like to see how a predictive action platform can be utilized at your direct sales company? Book a discovery session here for a free, no strings attached time to explore what’s possible today.
Ben Dixon loves referral marketing. His family found direct sales back in 2006 and had success using technology to create home-based businesses. Since 2010, Ben has focused on serving referral marketing, party plan, and direct sales companies across the globe with the technology they require to empower their passionate fans to virally grow their businesses.
To see other episodes from the direct selling executives forum, visit the youtube channel.
To request a tour of the NaXum platform, visit Naxum.com
To download a full copy of the 2022 Direct Selling Trends Report, download the report here.
Follow NaXum on LinkTree for more articles in this series on trends within direct selling.