Relationship Building In Network Marketing
There is no greater equity than relationship building in network marketing. When we consider the first time person, or newer network marketer – they are often encouraged to create a hot list or warm market list, names and phone numbers of people they know they can reach out to and create first exposures of their new business. This can be effective, but statistically, this isn’t always the best plan of action. Friends and family have great intentions, I’m sure, but they can also be the least supportive, unfortunately.
However, let’s consider these relationships as a starting point. They trust you, and chances are they like you (at least one would hope so!) These friends and family might even purchase some product from you as their way of supporting you, but then what? If that relationship isn’t maintained, and nurtured, it is likely their support will be a one time deal and could even taint the relationship moving forward. This is a common trend in the networking marketing space, and I believe this is because the initial contact was not done correctly and more than likely not at fault to the new person.
If you are not nurturing existing relationships or growing and creating new ones, then I’m afraid your business isn’t growing either.
This skill of relationship building in network marketing isn’t just important it is absolutely mandatory. Let me narrow down the top three reasons as to why this is;
Relationship Building Translates To A Growing Business
Relationship building in the network marketing space is so crucial, and you may even hear it referred to as relationship marketing. When we consider the aspect of recruiting in network marketing (here is an article on that topic)- you are leveraging your relationship, leadership and skills to do just that. When you do successfully recruit a new distributor or representative in to your business, you are asking them to invest both time and money – and this is where the saying goes “people will buy from people they know and trust”. Build those relationships! It will in turn, transfer into your downline, customer base, and so on.
Relationships Foster Retention
Although a relationship does not guarantee retention in your business – but let’s evaluate it like this; if someone is happy with your relationship, support, etc. Do you think they are likely to quit the business? Not so much. If your customers are checked on, or reminded of special deals or sales, do you think they are more likely to reorder from you? Absolutely! These professional relationships will promote not solely retention but pivotal in duplication throughout your organization.
Paying It Forward
Helping others, delivering value, providing mentorship, will eventually come back around to you. When you recruit someone into your business, your relationship has just begun – be there for them initially, answer those crucial questions, help them launch their new business, bottom line, be there. By building those relationships, and it’s important to note, these should be genuine relationships, this will translate to building their business and yours. The beauty of network marketing is by helping others, it helps you. Growing your downline, grows your business.
Napoleon Hill speaks of this in his writings – Building relationships and using that circle of knowledge to help each other gain success. Think he might know what he was talking about?
Without relationship building in network marketing, your business will struggle to achieve success. A simple tweak, and putting others first and foremost will benefit all parties involved.
As always, if you got value from this information, please comment below and share on social media and with your teams.