Why are MLM conversion rates so important to know?
How can conversion rates build your downline?
How many people can you convert from being a prospect to an MLM partner, a member of your downline and onto being an MLM Star? What are your conversion rates of prospects to being your MLM downline partner. A lot of MLM members may say 10% 20% or 30% yet some will say 50%. What is the difference?
Conversion is difficult. Like people wanting to loose weight. A LOT of people need to loose weight, but how many actually do? Many people want to make an extra income but how many actually do? Kids in school love to think that they may one day be a sports star. They play their sport in Elementary School, Junior High School. Some go onto play it in Senior High School. A few of those go onto play it in University and very few of them go onto become stars of their sport. Many become to treat the sport as a hobby.
Don't be disappointed if your conversation rate is low. Helping people is sometimes a difficult thing, even when they know it's better for them! If you spoke to 10 smokers how many could you get to stop smoking? If you spoke to 10 overweight people how many could you get to lose weight? Alcoholics? Convert to a religion? Buy a certain car?
What is your conversion rate?
Most MLM members don't even take statistics on their conversion rate.
Have your members keep records of how many prospects they talk to over the month.
Have your members keep records of how many members they then get over the month.
What is good about this is that they will have their own personal conversion rate using their current recruiting techniques. Why is this good? Let's take a simple conversion rate of 10%. So you have a guy in your downline prepared to note his conversion rate and he says that his conversion rate is 10%. He know knows that if he talks to 10 prospects that atleast one of them will join his downline.
One new member out of 10 prospects may or may not sound good, but actually it doesn't matter. What this new guy now knows is that if he wants 10 new members this month that he must present his MLM to 100 people this month. Sounds like a lot? Is it?
Conversion rate is 10% ( one out of 10 people will join his MLM ).
He wants 10 new members this month.
To get 10 new members this month he must talk to 100 prospects this month.
A month has 30 days.
100 prospects divided by 30 days.
To get his goal of recruiting 10 new downline members this month he needs to talk to three (3.3) prospects a day.
If he makes $100 per new member sign up, then he makes $1000 a month.
If you divide the $1000 by the 100 people he spoke to he is averaging $10 per person he speaks to. He now knows that he is getting paid $10 for every NO he gets and $10 for every YES he gets. Now your new member doesn't care if the person says YES or NO. Read on
How can conversion rates build your downline?
How many people can you convert from being a prospect to an MLM partner, a member of your downline and onto being an MLM Star? What are your conversion rates of prospects to being your MLM downline partner. A lot of MLM members may say 10% 20% or 30% yet some will say 50%. What is the difference?
Conversion is difficult. Like people wanting to loose weight. A LOT of people need to loose weight, but how many actually do? Many people want to make an extra income but how many actually do? Kids in school love to think that they may one day be a sports star. They play their sport in Elementary School, Junior High School. Some go onto play it in Senior High School. A few of those go onto play it in University and very few of them go onto become stars of their sport. Many become to treat the sport as a hobby.
Don't be disappointed if your conversation rate is low. Helping people is sometimes a difficult thing, even when they know it's better for them! If you spoke to 10 smokers how many could you get to stop smoking? If you spoke to 10 overweight people how many could you get to lose weight? Alcoholics? Convert to a religion? Buy a certain car?
What is your conversion rate?
Most MLM members don't even take statistics on their conversion rate.
Have your members keep records of how many prospects they talk to over the month.
Have your members keep records of how many members they then get over the month.
What is good about this is that they will have their own personal conversion rate using their current recruiting techniques. Why is this good? Let's take a simple conversion rate of 10%. So you have a guy in your downline prepared to note his conversion rate and he says that his conversion rate is 10%. He know knows that if he talks to 10 prospects that atleast one of them will join his downline.
One new member out of 10 prospects may or may not sound good, but actually it doesn't matter. What this new guy now knows is that if he wants 10 new members this month that he must present his MLM to 100 people this month. Sounds like a lot? Is it?
Conversion rate is 10% ( one out of 10 people will join his MLM ).
He wants 10 new members this month.
To get 10 new members this month he must talk to 100 prospects this month.
A month has 30 days.
100 prospects divided by 30 days.
To get his goal of recruiting 10 new downline members this month he needs to talk to three (3.3) prospects a day.
If he makes $100 per new member sign up, then he makes $1000 a month.
If you divide the $1000 by the 100 people he spoke to he is averaging $10 per person he speaks to. He now knows that he is getting paid $10 for every NO he gets and $10 for every YES he gets. Now your new member doesn't care if the person says YES or NO. Read on
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