Understanding the different types of groups
Groups are big commissions and big risks!
New Advisors should be very careful when booking or organizing a group. Know what type of group to book and don’t put yourself at risk by signing a contract you may be liable for. Groups are big commissions but come with big responsibility, too.
Speculative Groups: You see a special offer or want to travel to a certain destination, so you share the deal with friends or on social media in the hope they will want to join your group. This type of group is the least “sticky” because the customers don’t know each other well and could bow out when it comes time to make payments.
Affinity Groups: In this group type, customers have a common interest. They may all be members of a family or a community group. This group is “stickier” because if you tell Aunt Maria that Uncle Fred isn’t making his payment, she will call him and tell him that he’d better be at the family reunion!
Pied Piper Groups: In this group type, an influencer or instructor asks his community members and students to travel for an in-person group vacation or retreat.
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