In 2012 we enhanced the QNET Compensation Plan to introduce a new element to the business of every Independent Representative (IR) with one key objective – sustainability.
The central feature of this concept is Repeat Sales Points (RSP). Designed to boost repeat sales, RSP are not as complicated as you many think. This article gives you a total run down on everything you need to know about sales of repeat products to existing customers.
Repeat Sales and a Special Type of QNET Product
Before going into the details of RSP, the first thing to know is that QNET has loads of a special type of product which customers love to buy again and again, these popular items are called ‘repeat products’. Repeat products are:
- Used everyday
- Purchased on a regular basis
- Often more affordable.
New vs Existing Customers
Be definition, repeat products are sold to existing customers because they’re repeating their purchase. So on the one hand you have customers who already purchased something from you and on the other are new customers. We needn’t separate downlines from retail customers since both groups purchased from you so they are all customers. But there are key differences between new and existing customers that are important to remember:
|New Customers||Existing Customers|
|Not yet known||Already in your contacts|
|Not yet familiar with QNET||Aware of QNET|
|Not yet familiar with our products||Know at least one product|
|You don’t yet know them well||You know them|
This is the first important benefit of repeat sales – It costs less to sell more to your existing customers than it does to secure new customers. Furthermore, it costs even less to sell the exact same product to a customer who previously purchased the product, that’s a repeat sale of a repeat product.
Repeat Sales are Sustainable Sales
As we stated above, repeat products tend to be more affordable than other products but they also have the ability to generate repeated sales over time. This means regular on-going commissions instead of just a single one-off commission.
So if you focus on building up many customers buying repeat products again and again, then these sales start to gather a life of their own and in time become a major source of commissions.
Add to this the fact that repeat sales require a softer marketing approach because you put most of the sales effort in before the first sale and then the product helps to sell itself after that. The result is less reliance on new customers, which are so much more difficult to find, and more time to spend with your friends and loved ones in your existing network of customers.
Repeat Sales Points (RSP) v Business Volume (BV)
At a core level, the QNET Compensation Plan works on Business Volume (BV) where every sale affords you a measure of BV which is later turned into commission. But now in addition to BV, sales of repeat products also earn RSP. And like BV, RSP can also be converted into cash. [RSP may also be converted into BV. You can see the RSP BV conversion rate in our RSP infographic]
So I’m sure you’ve worked it out, this means you earn commission on repeat sales in two ways instead of just one as with other products.
What’s the Difference between RSP and BV?
Our aim with RSP is not only to direct you towards repeat sales but to encourage you to focus your near team on repeat sales too and thereby create a long lasting customer base for your QNET business.
For this reason, you earn RSP not only on your own sales of repeat products but also the sales of each of your direct referrals four levels deep. To truly understand what this looks like and how it works, check out our RSP infographic.
RSP and Rank Advancement
Finally, there is one more way the QNET Compensation Plan uses RSP to reward you for making repeat sales – to help you advance rank. When you advance rank you earn more on each and every sale which makes it critical for any QNET business.
To make it to the giddy heights of Gold, Platinum or Diamond Star rank, you simply must earn RSP to qualify and this will require a strategic focus on repeat sales. Find out exactly how much RSP you must earn to advance in the QNET Compensation Plan infographic.
Let’s summarise what we’ve covered about repeat sales. The QNET Compensation Plan provides many rewards for selling repeat products to customers you already have:
- It costs less to sell to existing customers
- Earn cash (or BV) in TWO ways when selling repeat products
- Earn RSP on repeat sales of your own and of your direct referrals 4 levels deep
- Repeat customers mean sustainable, regular commissions
- Repeat sales are critical if you want to advance to Gold Star and beyond.
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