LifeVantage: How To Become A LifeVantage Top Producer

August 20, 2011

MLM Companies

LifeVantage’s core product, Protandim, is said to lowers oxidative stress by 40 percent and is positioned as an anti-aging product.  Given the very large Baby Boomer population of retirees and soon-to-be retirees, anti-aging is a hot market segment.  On the surface things look bright for LifeVantage reps.

The challenge most LifeVantage reps will face in becoming a top producer is twofold.  First, the “anti-aging” niche is a very crowded market segment.  (A search on alone for anti-aging reveals 19,953 different products!)
This market crowding means if you’re a LifeVantage rep, understand many people might mistakenly assume Protandim is just like other anti-aging products.

This means simply touting the benefits of Lifevantage’s products to people you know will NOT be sufficient to build a large LifeVantage business.

Whereas most LifeVantage reps focus on recruiting friends and family into their LifeVantage business, understand you are likely to run out of friends and family to talk to within the first three months.  This is the second challenge.  Your Lifevantage business will stall if you don’t have a steady supply of leads.

At that stage, you must have rock-solid marketing in place to grow your LifeVantage business, or you will be out-competed by those that do.

I used to market a health and wellness product line.  It wasn’t until I was mentored personally by 7-figure income earners that my business took off.

Here what 7-figure earners are doing to build network marketing DYNASTIES in companies such as Lifevantage:

LifeVantage Top Producer Strategy #1: Focus On Marketing More Than you Focus On Duplication

People in network marketing companies such as LifeVantage are told they need to keep everything they do simple so people in their LifeVantage downline can duplicate these activities.

How effective is this strategy to keep everything simple so others in your LifeVantage business can duplicate it? For a small minority of marketers, this approach works well.

But for the masses of network marketers, including many in LifeVantage, keeping all the activities in their business simple will NOT necessarily promote duplication.

Check out these facts which pertain to all network marketing companies, including LifeVantage:

• Only about 20% of network marketers ever sponsor anyone at all.
• The minority of people that sponsor anyone will only ever sponsor about 2 or 3 people…ever!
• 80 percent of people in your LifeVantage organization will sponsor zero people. That’s right: zero!

In other words, the “keep it simple” approach so popular in network marketing companies such as LifeVantage has an 80% failure rate!

The strategy to “keep it simple” sounds great but in practice will NOT invoke high levels of duplication in your LifeVantage business. In fact, this strategy creates problems very few people ever recognize.

The most common way to “keep it simple” is to approach family and friends and present the business opportunity to them. This method is called “warm market recruiting”.

For decades network marketers have been teaching this strategy not because it’s the best but because its the most simple.

But simple does NOT mean effective!

This strategy actually leads to people quitting. Once people run out of others to talk to within the first 30-90 days they are in LifeVantage, they will often quit because they have NO CLUE how to perform the one activity they must rely on to build a business: advertising and marketing to generate consistent lead flow with which to grow their LifeVantage business.

The second problem this “friends and family” approach creates is it repels high caliber prospects from joining LifeVantage. Ideal LifeVantage prospects are people with transferable skills and large personal and professional networks. Real estate professionals, professional salespeople, executives and other business people fit this category, but these people tend NOT to want to approach family and friends about an opportunity like LifeVantage.

Many professionals want to protect their reputation and do NOT want to introduce their friends and colleagues to an opportunity with LifeVantage they just got started with.  And some simply think network marketing is a “pyramid scheme”.

Should you start with warm market recruiting to bring people into your LifeVantage business? Yes. But unless you learn at least one rock solid marketing and advertising approach, you will run out of people to talk to.

Keep in mind your highest quality prospects for your LifeVantage business are going to want to implement a professionally sales and marketing approach as well.

Learn how to market your LifeVantage business on the Internet, and you can attract extremely high caliber prospects who want to learn the same. Plus you won’t need as much duplication because your reach will be so wide you can sponsor many people yourself into LifeVantage. If only a few high caliber LifeVantage team members learn to market online, you could build a very large LifeVantage organization.

LifeVantage Top Producer Strategy #2: Solve Your Attrition Problem

More than 80 percent of the people in your LifeVantage organization will quit the business within the first year. Attrition can make growing your LifeVantage business every month very difficult.

There are two standard approaches network marketers are taught to boost retention in opportunities such as LifeVantage. The first strategy is to assist your new reps to get into profit quickly, so they have reason to stay in LifeVantage. The second approach is to get your downline members to feel part of the “team”, something bigger than themselves, so they want to stay part of your LifeVantage group. Team webinars, live training events with LifeVantage top earners and management, and getting on the phone with your new people can all foster a team experience.

I’ve used both of these solutions. Though they are common, they are far less effective than you’d expect. And these tactics create other problems.

By attempting to get every new rep making money right away, you end up devoting a HUGE amount of time on the people least capable of sponsoring new reps themselves into your LifeVantage business.

This takes focus away from your best people, the top 20% of your LifeVantage downline that will drive 80% of all your LifeVantage income. Spending most of your time on the weakest 20% of your people just fosters dependency.

The other approach is to create a sense of team loyalty through live events, LifeVantage team conference calls, etc. This takes up enormous amounts of time and can also make your people dependent on you. You’ll end up with many underperforming team members who stick around for the team connection to other LifeVantage reps but who sponsor few or no people.

You’re running a LifeVantage business, not a LifeVantage self-help group. You must learn to focus 90% of your support efforts on the small minority of people doing most of the sponsoring into your LifeVantage business, NOT on the masses of people who need the most help.

A contrarian but effective approach to the attrition problem is to revise your business model not to boost retention, but rather to make retention in LifeVantage much less important. 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 your LifeVantage team for income. When you depend less on your LifeVantage downline for income, attrition matters less.

One way to make attrition from your LifeVantage opportunity less important is to promote a high ticket opportunity that pays commission of $1,000-$7,000 per sale. In contrast, most network marketing comp plans, including LifeVantage, pay an average $50-$100 sign-up bonus for each new rep you sponsor, forcing you to build a large LifeVantage team and build a large LifeVantage residual check to make a full-time income.

When you earn $1,000+ per sign up, you effectively earn 2-3 years worth of residuals up front, regardless whether your new signup endures for 6 years… or 6 days!

This approach makes retention a non-issue!

In network marketing, there are two ways to add a high ticket offer to your marketing mix:

First, you can offer your high ticket course or event to those you sponsor into your primary multi-level marketing business.

Direct sales opportunities that pay out commissions of $1,000 or more are a second option. You can promote one of these businesses INSTEAD OF a traditonally-priced direct sales company.

Virtually all top network marketers who market mostly online promote a top tier direct sales opportunities that pay commissions of $1,000 or more and NOT a traditionally-priced direct sales company.

Promoting a high ticket top tier opportunity allows you to earn a LOT more for the same amount of work as a typically-priced direct sales company.

Solve your attrition problem by relying less on your LifeVantage downline. Promote a high ticket opportunity to make your attrition problem far less significant because you get paid so much up front.

LifeVantage Top Producer Strategy #3: Promote Affiliate Products

It’s five to ten times cheaper (and easier) to sell to an existing customer than to acquire a new customer for your LifeVantage.

Instead of just promoting your LifeVantage business and LifeVantage products to your prospects and new LifeVantage reps, promote affiliate products to them also.

Affiliate products are instructional online products, such as ebook, training-oriented membership websites, and other digital products that educate network marketers on skills and techniques to increase their income. You should earn an average $20-$100 commission per sale of each affiliate product.

The benefits to selling affiliate products are massive:

• More money per customer and more revenue per lead
• Usually higher customer satisfaction, because customers get more value from their relationship with you
• More repeat sales. Customers that have purchased from you before, and gotten value out of products you recommend, are likely to buy based on your future recommendations too.

Top summarize:

  • Anti-aging is a crowded niche.  You need to do more than just tout Protandim’s benenfits to become a LifeVantage top earner.
  • You’re going to run out of friends and family to talk to about LifeVantage.  It’s critical you learn rock-solid marketing skills to grow your LifeVantage business.
  • Focus more on marketing than on duplication in your LifeVantage business.
  • Make attrition irrelevant to your LifeVantage business by promoting a high ticket opportunity or course that pays $1,000 commissions or more up front.
  • Promote affiliate products to maximize revenue per LifeVantage customer.

Follow these tips, and you are on the right path to become a LifeVantage top earner.

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