NaXum’s CEO Ben Dixon Shares How S.P.E.E.D. Systems Lead To Viral Growth
Ben Dixon serves as CEO of NaXum Online Marketing Services, a 22-year-old software company that serves referral marketing companies around the globe.
In 2013, the team at NaXum coined the acronym S.P.E.E.D. to describe the 5 functions of viral growth in referral marketing. The S.P.E.E.D. principle states that companies will grow as fast as whichever of the 5 components they are the weakest at. The weakest component is throttling the company’s growth.
“We’ve created a smart technology that ‘feels’ like your top leaders are actually ‘present’, sitting right next to the newest person on your team, offering meaningful, relevant, and proven coaching on demand. Our company has developed a unique culture-building process called S.P.E.E.D. that can be customized and implemented at your company.” — Ben Dixon CEO
How do you know where you are stuck? Ask yourself:
1) What does it feel like to share our story?
2) How will promoters present the products?
3) What process is in place to enroll promoters?
4) When a promoter joins, what systems elevate and train their minds?
5) Are new people, able to duplicate the process?
By identifying where your tribe of promoters are stuck, you can then see where to apply technology and processes to open up your business for viral growth.
If starting conversations is the challenge, many companies set up compliant predictive apps that feel like a top leader sitting next to the person on the team, suggesting what they say to start conversations and create curiosity.
Members simply sync their phone contacts and the platform walks the member through what to say on social media or in an initial text message.
When sharing the story becomes the issue, many companies look to video sales funnels or immersive surveys that allow people who have never experienced a brand before to learn about a solution to their challenge through the companies product or service and make a decision to become a retail customer.
By creating replicated video sales funnels and surveys, members have a simple tool that can tell the story for the promoter 24 hours a day, 7 days a week, and all the promoters need to do is invite prospective customers to engage.
When recruiting promoters becomes a challenge, look at the entire flow of the decision process. Many direct sales companies have left the old school call to action of inviting guests to ‘get back the person that invited you’ from an online presentation to smart replicated webinar technology that tracks who each guest belongs to. With replicated webinars, the best presenters can recruit new promoters on behalf of the members that invited them.
Growing someone’s mindset and skills is not a one-time event. Companies are moving away from the video libraries as a solution alone, to learning management platforms that have the promoters commit to a daily level of learning, so the promoters are growing their mind daily.
By tracking member actions inside a predictive platform, reports can be produced to show companies and their staff where promoters are taking action and where they are lacking. Action reports create space for candid coaching opportunities where promoters can be given clear expectations on what real work is needed for them to improve.
To learn more about S.P.E.E.D. for your referral marketing business, register here.
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, mlm, and direct sales companies across the globe with the technology they require to empower their passionate fans to virally grow their businesses.
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