How To Make Money In 5Linx
5Linx success seekers: Want to dominate and build a HUGE business?
If you seek to become a top earner, you need a way to promote to thousands of people- not just to the small number of friends and family network marketers are taught to approach.
The single most important skill you could ever learn is marketing.
I've been groomed by 6 and 7-figure income earners who taught me the following strategies we quietly use to build large businesses:
- Accumulate A List And Promote To This List
There's two basic ways to market your 5Linx business on the Internet profitably:
- Attract a list of leads
By list I don't mean your friends and family. The list that matters the most is the list of prospects you generate through online marketing. You can't expect to succeed in 5Linx by just throwing up some content on your blog and on Facebook. To profit online, you must position yourself in a way that's attractive to prospects, so they feel compelled to buy from you.
Teach prospects business-building skills so you position yourself as a credible authority. Building a list means you have a website to which you drive visitors who enter their contact information in order to receive free training content.
- Market yourself to your list
Keep the lines of communication with your prospects open, so you can promote things that they require in their business. By staying close to your audience, you will be ahead of 99% of marketers who don't invest in building relationships properly. Developing strong ties with your prospects online is the key ingredient to succeeding as a marketer. Publish helpful content, such as blog posts and videos, several times per week. At the close of each piece of content, include a strong call to action for the reader or viewer to buy something from you.
- Add More Income Streams
Add other revenue sources to your 5Linx business. There's a lot of risk when you depend exclusively on your 5Linx opportunity. You never know if your top people will leave your downline. Market demand might weaken for your 5Linx product line. 5Linx management could take the company in a direction you don't like.
Risk goes down when you diversify your income streams. You must keep focus on not let adding new lines of income distract from your 5Linx venture.
Select one or more of the following ways to add new revenue lines:
Promote affiliate products and services. Sign up as an affiliate to promote the services, courses, and system you use in your business. Promote the affiliate products you feel are best, not just the ones that pay the most. Generally you get paid commissions of twenty to sixty percent.
Another strategy is to take your content and make it into a product. Record the webinars you do and turn them into products. Gather a set of your videos and sell them as a course. Bundle your articles into an ebook.
Another strategy is to provide coaching to your students. As your expertise grows, you can raise your coaching prices and be more selective about whom you coach.
- Make Attrition A Non-Issue
Attrition can make growing your 5Linx business every month very difficult. 5Linx business builders are taught two tactics to boost retention, but each strategy creates other problems.
1) The first strategy is to assist your new 5Linx reps to get into profit quickly, so they have reason to stay in the game. When you attempt to help EVERY new 5Linx rep in your organization get into profit quickly, you spend LOTS of time helping your worst-performing new reps, the people who can't sponsor anyone by themselves. About 20% of your 5Linx downline is going to generate 80% of the growth and income in your business, and you end up focusing on the weakest 80%! By focusing on the wrong people, you foster dependency.
2) The other common approach is get your 5Linx team members to feel connected to your team, so the interpersonal connections and sense of belonging the person feels overcomes frustrations that might otherwise make them quit. 5Linx team webinars, live training events, and getting on the phone with your new people can all foster a team experience. This strategy can foster dependency. Many of your weaker-performing team members will stick around because they like being part of the team...But these people will NOT sponsor others by themselves routinely into 5Linx and will require LOTS of team support in order to stay in the game.
You're a business owner, not a group therapist. A totally different approach to addressing attrition is not to try to increase retention, but to make attrition almost irrelevant to your business. To make retention less important to your business, promote affiliate products that can easily add a dozen or more new streams of income. By diversifying your revenue sources, you are not as reliant on 5Linx for income. When you depend less on your downline for income, attrition matters less. A second way to make attrition less important is to promote a high ticket opportunity that pays commissions of $1,000 or more per sale. In contrast, most network marketing comp plans such as 5Linx pay a $50-$100 sign-up bonus for each new rep you sponsor, forcing you to build a large team and build a large residual check to make a full-time income. When you earn $800+ per sign up, you effectively earn 2-3 years worth of residuals up front, regardless whether your new signup endures for 6 days or 6 years. This makes retention a non-issue.
If you seek to become a top earner, you need a way to promote to thousands of people- not just to the small number of friends and family network marketers are taught to approach.
The single most important skill you could ever learn is marketing.
I've been groomed by 6 and 7-figure income earners who taught me the following strategies we quietly use to build large businesses:
- Accumulate A List And Promote To This List
There's two basic ways to market your 5Linx business on the Internet profitably:
- Attract a list of leads
By list I don't mean your friends and family. The list that matters the most is the list of prospects you generate through online marketing. You can't expect to succeed in 5Linx by just throwing up some content on your blog and on Facebook. To profit online, you must position yourself in a way that's attractive to prospects, so they feel compelled to buy from you.
Teach prospects business-building skills so you position yourself as a credible authority. Building a list means you have a website to which you drive visitors who enter their contact information in order to receive free training content.
- Market yourself to your list
Keep the lines of communication with your prospects open, so you can promote things that they require in their business. By staying close to your audience, you will be ahead of 99% of marketers who don't invest in building relationships properly. Developing strong ties with your prospects online is the key ingredient to succeeding as a marketer. Publish helpful content, such as blog posts and videos, several times per week. At the close of each piece of content, include a strong call to action for the reader or viewer to buy something from you.
- Add More Income Streams
Add other revenue sources to your 5Linx business. There's a lot of risk when you depend exclusively on your 5Linx opportunity. You never know if your top people will leave your downline. Market demand might weaken for your 5Linx product line. 5Linx management could take the company in a direction you don't like.
Risk goes down when you diversify your income streams. You must keep focus on not let adding new lines of income distract from your 5Linx venture.
Select one or more of the following ways to add new revenue lines:
Promote affiliate products and services. Sign up as an affiliate to promote the services, courses, and system you use in your business. Promote the affiliate products you feel are best, not just the ones that pay the most. Generally you get paid commissions of twenty to sixty percent.
Another strategy is to take your content and make it into a product. Record the webinars you do and turn them into products. Gather a set of your videos and sell them as a course. Bundle your articles into an ebook.
Another strategy is to provide coaching to your students. As your expertise grows, you can raise your coaching prices and be more selective about whom you coach.
- Make Attrition A Non-Issue
Attrition can make growing your 5Linx business every month very difficult. 5Linx business builders are taught two tactics to boost retention, but each strategy creates other problems.
1) The first strategy is to assist your new 5Linx reps to get into profit quickly, so they have reason to stay in the game. When you attempt to help EVERY new 5Linx rep in your organization get into profit quickly, you spend LOTS of time helping your worst-performing new reps, the people who can't sponsor anyone by themselves. About 20% of your 5Linx downline is going to generate 80% of the growth and income in your business, and you end up focusing on the weakest 80%! By focusing on the wrong people, you foster dependency.
2) The other common approach is get your 5Linx team members to feel connected to your team, so the interpersonal connections and sense of belonging the person feels overcomes frustrations that might otherwise make them quit. 5Linx team webinars, live training events, and getting on the phone with your new people can all foster a team experience. This strategy can foster dependency. Many of your weaker-performing team members will stick around because they like being part of the team...But these people will NOT sponsor others by themselves routinely into 5Linx and will require LOTS of team support in order to stay in the game.
You're a business owner, not a group therapist. A totally different approach to addressing attrition is not to try to increase retention, but to make attrition almost irrelevant to your business. To make retention less important to your business, promote affiliate products that can easily add a dozen or more new streams of income. By diversifying your revenue sources, you are not as reliant on 5Linx for income. When you depend less on your downline for income, attrition matters less. A second way to make attrition less important is to promote a high ticket opportunity that pays commissions of $1,000 or more per sale. In contrast, most network marketing comp plans such as 5Linx pay a $50-$100 sign-up bonus for each new rep you sponsor, forcing you to build a large team and build a large residual check to make a full-time income. When you earn $800+ per sign up, you effectively earn 2-3 years worth of residuals up front, regardless whether your new signup endures for 6 days or 6 years. This makes retention a non-issue.
About the Author:
Ricardo Interpemian has coached thousands of people how to build businesses such as 5Linx.
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