Herbalife Can Make a 10X+ Return on their $200M Settlement
What if some of the new rules imposed on Herbalife could lead them down a path of even greater success?
What we call “reality” is really all about perspective. We believe we understand a situation based on our past experience. . Such is the case with how most direct sellers view the recent Herbalife/FTC settlement, believing the new restrictions on Herbalife will negatively impact their business. Especially as it relates to new ways of separating customers from distributors, what if there’s another way to see it?
One way we could see it is thus: Creating a separation between customers and distributors is an incredible opportunity to better serve both groups while increasing their Lifetime Value (LTV) and finally, eliminating a real ethical quandary. How so? It’s all in your data!
Many people see a wave of change coming to the direct selling space, and interpret the changes as foreboding. But if you’ve got the surfboard of data intelligence beneath your feet, you and your company could be in for the ride of your life!
Hidden in your (and Herbalife’s) data is a master key to unlocking tremendous gains in production, retention and overall brand cache. There’s a combination of specific qualities people must have to make it as a seller. Most people are just not cut out for it, and those who have the chops are suited to varying levels of success. These qualities are burried quite deeply in the data and are complex, but the behavioral patterns are there. If you’re a company of some size, you’ve had hundreds of thousands of people come through your business in the last few years. They are all unique, but not that unique. There are hidden patterns in those groups of builders, quitters and everyone in between. Uncover those patterns and you’ll be holding the key to engaging your people like never before.
It’s nothing new. Companies in almost every industry from telecom to e-com, media to motors, airlines to air conditioners are using data to better engage and retain their customers. The data has always been there, but the means to analyze it so deeply is what’s only recently become accessible to the masses.
What if your executive team could predict which reps would rise to drive the most revenue in the next 3,6,12 months? What if you knew some of those budding leaders were in danger of quitting and what you could do to retain them (and the revenue they’ll generate once you do)?
What if on the way to visit one of your international markets you could pull up a list of distributors in that market who will have the most value to the company in the future? How much more valuable would that trip be?
What if your call center reps knew when they were talking to a distributor who’s in danger of churning and knew what they needed to say to increase the chances of saving them? Ask your CFO and you’ll see that there’s more money on the table for your company via retention and engagement of who you have, than in the recruitment of new reps.
Find out more about how you can leverage your data. Contact DirecTech for a consultation and demo.