Primerica is a network marketing company and a division of Citigroup. They state that they have been in business for 30 years. During that time, you are sure to find happy Primerica reps and disgruntled ex-Primerica reps. Personally, I am writing this article with an objective viewpoint because not only am I not a Primerica rep, but I also have never known anyone involved with the company. However, I have read through over 20 complaints and responses and have formed the following opinion.
The bulk of the complaints against Primerica stem around the premise that reps got into the business expecting one thing and then something completely different happened. In almost every instance that I could find, this is the long and short of the story. It’s near impossible to determine if the issue was a misleading by the recruiting rep or simply a false expectation by the new recruit- or perhaps a bit of both. However, the one theme that seem to be constant was that the new recruit did not achieve the level of success they were hoping to reach at the onset.
This is a common occurrence with nearly all network marketers as the failure rate is estimated at 97%. The reason for this may vary from person to person, but by-in-large, the problem is that most network marketers really have no marketing training or experience. They do not know how to generate a list of potential customers/prospects other than to simply create a list of people that they know and ask others to do the exact same thing. They lack, for the most part, experience turning leads into sales and creating a business relationship without looking desperate. Now, this of course in not the case with all of those involved, but the vast majority fall into this category and thus, the high rate of attrition. As for the Primerica complaints that I read, it definitely appears that this scenario was common.
It is possible for someone to succeed in Primerica, or any other network marketing company, without a great deal of experience but it takes persistence, commitment, and education. It also requires close mentoring and coaching. Coincidentally, these are the same qualities that someone getting involved in ANY business or industry will need. So if you want success, here’s my advice:
Get a mentor
Get to work
No one has ever succeeded that didn’t have all of these bases covered. Finally, if you are not thrilled about being asked to recruit your family and friends, you may want to consider a turn-key internet business. If you are new to the world of being self-employed, this is a way to get started online (where you don’t need to rely on relatives for sales and referrals) without needing a huge budget and risking your financial future. Then, if you find that entrepreneurship is for you, expand into larger ventures.