In the last email I sent I got into a preliminary discussion about why your company's conversions statistics are so important to the overall success of your business. Today I want to dig into that discussion a little deeper. If you know the conversion factors for your business you really can set your path to success, but they're really a whole lot more powerful than just this. Here's why . . . (I am going to be using the conversion statistics for my own business as a roadmap for this discussion as they are the conversion statistics which I am most familiar with.) In my business I know that: 5 to 22% of the leads generated end up signing up for a free trial in our business. 65% of those leads that come in end up becoming full fledged active members. 24% of the free trail members will upgrade to a premium level from the outset. 25% will duplicate So by knowing these figures I'm able to really see clearly and concisely what I have to do to grow my business at a consistent pace. There are no secrets. This is good because it takes away all false expectations. IMPORTANT FACT!!!
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Most people that join a network marketing company online or off set false expectations because they just don't know any better.
++++++++++++++++++++++++++++ For instance, I've heard on more than one occasion from a new team member that they are going to go out and sponsor 100 people by the end of the month or they want to be at X level by X date. I always reply great! But I immediately go into our business's conversion statistics so that they can know exactly what it will take for them to reach such a level in their time frame. It's great to be excited from the outset, but most people sugar coat the work involved with a high level of success and the best way to shed light on what it will take for them to reach their goal is to give them the cold hard facts from the beginning. But . . . You can't do this unless you know them! This is why it is so essential to know your numbers. The truth is extremely powerful and even more important it is essential to the success of every new member that joins your business. Without it they will almost always set false expectations and when things don't work out the way they THOUGHT they would from their own fanciful goals the get frustrated and will most likely give up. Further they will probably be upset with their sponsor for not giving them the full story. If you don't give every member of your team the truth based on the numbers as soon as they walk through the door you will be doing a great disservice to them. Here's an equally powerful way that knowing the numbers can serve you in your business growth. If you hear of anyone on your team or within your company that is using one marketing method to be highly successful you can track EXACTLY what it has taken them to achieve their success down to the dollar! For example . . . A while back I heard about a couple different ways that people within my company where using to generate a high level of success quickly. Well if you don't know the numbers you would most likely say to yourself. WOW! That sounds like its working great! It's the "NEW" key to success! And you may run off to give it a try. Most likely your results will not match the original user's level of success and you'll say to yourself "What am I doing wrong?" Well the numbers never lie. If you are armed with your company's conversions statistics you can go and do a test of the new marketing method. For instance, if this new marketing method cost your say $5 to generate a lead you will see that from this one piece of information alone you can track a path all the way back to the TRUE COST of success of the original user of the marketing method. How? Well if it cost you $5 to generate a lead mimicking their marketing method to a tee and it takes you 100 leads to generate 10 new team members then you know that it cost them $5 to generate a lead and have the same conversion ratio. So you know if they grew their business by 50 people in one month it most likely took them at the very least 500 leads to generate this amount of business growth and that's with a stellar high conversion rate of 10%. So if you know it took them 500 leads to generate these 50 new team members you will quickly see that it cost them 500 times $5 which equals $2500 to generate this success. So what looked like a no-brainer marketing method quickly becomes something very different if you know the numbers driving the success. Now depending on your company this may be an acceptable marketing cost for the response generated, but you only know this if you know the numbers. Remember the numbers never lie! |
