The Signing Bonus (SB) is a welcome incentive for SFI affiliates who sponsor new sign-ups in helping to retain them and groom them into fully fledged active team members. It is scaled up to $40 when the new affiliates qualify for the Silver Fast Tract, and to $100 when they qualify for Gold Fast Track.
From the sponsor's point of view, the SB is a tool to provide incentives to PSAs to get them active.
From the new sign-up stand point, obviously, it's logical to assume that every new member would want to earn a $100 SB, instead of the $20,or even the $40.
Hence, the sight is set to reaching Gold Fast Track which is attained when the affiliate gets the New Member Pack (NMP) within their first 10 days of joining.
The NMP is another equally strong business building tool. It comes with:
- 3 CSAs added to the affiliate's team
- 500 VersaPoints
- Fast-Track Bonus Share
- 50 TCredits
- 200 Member Rewards Points
- 10 Eager Zebra Express "tokens"
- 30 free entries in the TripleClicks Daily Crown drawings.
The NMP costs only $20. Thus, this is a no brainier investment which will pay back 5 fold within 18 months through the SB.
As a sponsor, I am using both the SB and the NMP as combined incentives. I am committed to helping every one of my new sign-ups qualify for the Gold Fast Track and groom them to be active, earn the regular commissions and collect their $100 SB.
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The first step is to educate our new team members on the benefits of being a Gold Fast Track: what it can do for their rapid progress in building their business, and qualifying through the first rounds of the E365 contest.
We can use Gift Certificates to help those affiliates who genuinely want to qualify for Gold Fast Track but, for some temporary reasons, are not able to. Overall, Gift certificates are excellent sponsoring tools to help our PSAs upgrade to higher ranks. It is very much appropriate to use them here.
To encourage affiliates to be active and take their businesses seriously, signing bonuses (SB) are directly linked to actual earned commissions. They will be paid out with as a percentage (3%) of those regular commission earnings for a maximum of 18 months.
The announcement of the SB provides us with a practical example that explains how it will be applied: with a monthly commission of $400, the 3% of the SB will equal $12 and the affiliate will be credited with a $412 monthly commission This will be repeated each month until the entire SB is paid out, within the first 18 months of joining.
This is just an example, it does not mean that an affiliate should earn $400 a month to be paid the SB. They can earn less or more and still get their 3% from the SB added for them
In fact, at the average monthly earned commissions of $400, the $100 SB will be paid out in less than 9 months.
After computing the above numbers, it appears that, for an affiliate to be paid the entire $100 SB in 18 months, they need to earn $3,334 in commissions within those 18 months, i.e an average monthly commission of $185.22
If an affiliate earns more than this average of $185.22 per month, the SB will be paid out before the end of the 18 months period. However, if the SB is not fully paid out before the expiration of the first 18 months, we should assume that the remaining balance is forfeited.
This aspect should be stressed from the beginning so that new affiliates are fully aware on how they can get paid their full $100 SB.
Hence, to use the SB to effectively help new affiliates, we should educate them on the importance of qualifying for Gold Fast Track, the benefits that come with the NMP and how it can help them build their businesses, qualify through the E365 rounds; and, equally important, the need to be fully active, grow their businesses, earn commissions and collect their $100 SB within the 18 months timeframe.
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