Ever had a really good distributor quit out of the blue? It happens to every direct selling firm at one time or another.
It’s frustrating because of the impact to your bottom line. But it’s even more frustrating because you had no idea it was coming.
In this regard, at least, direct selling firms are much like any other kind of business. You never want to lose a top performer. But you’ll feel especially stung if you had no clue she was dissatisfied and looking for other opportunities.
Had you known, you could have spoken with her, offered her incentives to stay, and maybe even gotten her peers involved in retaining her.
But no, you got blindsided.
And when she left, she took a bite out of not only your bottom line, but also your company culture.
We’ll probably never solve the mystery of sudden churn—but that’s OK, because artificial intelligence (AI) has already figured it out.
Think back to the last time one of your top performers left your organization. Now pretend you have a time machine. If you set that time machine to 30 days before her departure, do you think you could have said or done something to prevent her from quitting?
Of course you could.
AI isn’t a time machine, but it’s the next best thing. It alerts you to the warning signs that indicate someone is likely to quit in the next 30 days.
These signs will of course vary depending on an individual’s role and level in your organization. For an enthusiastic customer, it could be a dropoff in purchases. That’s easy to spot with the naked eye—but when you have thousands of customers, your staff can’t possibly keep tabs on each one of them. So AI does it for you—and it also uncovers patterns of behavior that are much too subtle for the human eye to see unaided.
What about for successful distributors? Warning signs may be more related to their network activities—the number of people they’re recruiting, the level of mentorship they’re providing to people in their downline, and so on.
In any case, AI can help you spot the hidden behavioral signs of dissatisfaction before they spiral into actual defections. It can then assign a retention risk score, from 1 to 100, for every customer and distributor in your organization.
And just as importantly, as you’re mulling over what actions to take, AI can also help you gauge the dollar value of your at-risk people.
In a perfect world, you could keep all your people by giving them satisfying experiences that make them champions of your brand. But some of your people are probably going to quit no matter what you do.
Faced with this stark fact, you probably want to focus more of your retention efforts on the people who have the greatest potential impact on your bottom line, right? AI can help you here, too.
With AI, you can not only look at what level of business your people have generated over the past months and years, but also project how much they’re likely to generate over the next 12 months if you retain them. What’s really amazing is that AI can even predict the revenue that will be generated by the downline people your distributors are likely to recruit over the next 12 months.
It’s like seeing the future: you can find out who’s about to quit, discover their true value to your bottom line, and then decide what action to take based on this information.
Which begs the question: what action should you take? We’ll address that in our next article.
Sound intriguing? We’d love to tell you more about our retention solution? Download a step-by-step guide to solving your retention problem HERE