What is network marketing?

What is Network Marketing?

It is a practice of selling goods or services via a network of distributors. It is also referred to as Network Marketing, Direct Sales, referral marketing and pyramid selling. In Multilevel Marketing, direct sales companies motivate their existing distributors to recruit new distributors to sell more goods and services. The distributor is not only compensated by the sales generated by him but also gets a percentage sales revenue of the distributor he recruited.

The distributors and the sales person along with selling the product encourages others to join the company as well. The recruits are called as  Participants “ Downline” or Distributor “Downline”.

Future trends for Multi level marketing

1. Mobile phones will hold its position Tight 

The MLM industry will be driven by the trend towards frictionless mobile experiences as the domination of mobile continues among the millennial. The craze of using mobile phones for everything will force even the most successful MLM companies to innovate around their mobile strategy. Millennials are not alone in the race in fact 87% of the consumers now prefer using a smartphone over personal computers to consume all the digital data.

The industry will continue to innovate new strategies at a full pace so that they can remain competitive in the Amazon age.

2. Big Data and Analytics

MLM companies that don't measure analytics are likely to lose their precious customers. Actually not only customers but re-sellers as well. The industry should use analytics to improve their customer and distributor experience. Having valuable data will also provide you with an insight into the market conditions.

Keep a track of your customers buying patterns plus measure your distributor retention rate using MLM software empowered with big data and analytics. It will help to keep an eagles eye view and will help you make decisions based on the whole picture rather than pieces. Analytics will also help you find distributors who are at risk of churning out and what should be done to keep them away from the company.

3. Social media will beat Traditional Marketing

Almost everyone in the world uses the internet. A large amount of these online users have at least one social media accounts. Social media will help you reach out to more customer which will widen your brands reach and create a target market. It builds a strong reputation, establishes credibility and showcases expertise.

It’s the right strategy to use social media to advance MLM marketing, however, just remember not to make it your whole marketing strategy.

4. MLM Apps will continue to grow

A lot of MLM companies these days are using apps to conduct business. An MLM software or app will let direct sellers be more visible and readily available to distributors and customers alike.

The constant engagement will remind them of what needs to be done. They will be motivated to work harder which will increase their productivity and will ultimately increase conversion rates.

What is MLM Software?

Multi Level Marketing is a type of marketing wherein the representatives refer services/products to brands they represent.

It is a form of an infinitesimal loop to recruit people who’ll buy and sell your product and in-turn recruit more people.

There are two ways to go about business – either go and sell the product yourself or hire people to buy and sell the product who’d be further recruiting more people to do the same. The existing employees become brand ambassadors and bring in more business, quickening the pace of success. MLM software does exactly this in addition to helping you calculate the commissions for your multi level marketing efforts.

Today when the shelf-life of businesses has reduced from a decade to nearly four years, businesses need to adopt software and systems that’ll bring more customers as is done by online Multi Level Marketing software.

Why Buy MLM Software?

Before software came into existence everything was done by humans, however, these efforts were vulnerable to errors and also it was a complex task to keep all the details regarding the compensation and membership. But with the evolution of MLM software, it is now easy to manage all the complex tasks. Some of the main advantages of using software for MLM include:

1. Scheduling of Task is much easier

MLM software is like a  boon while managing your business and scheduling of tasks. It helps to manage customers, accounts, and track your sales activities so that you can concentrate more on your business activities and work towards its profitability. Good network marketing software or direct selling software will get you all these features and the interface under one roof so that you don't have to switch between systems every now and then.

2. Helps in Business Record Tracking

MLM software works as an excellent reporting platform that keeps all the records secured at one place. It helps you track the number of members, various kind of sales report, revenue, analytical and pictorial representation in a hierarchical structure.

3. Provides detailed information about the Catalog

MLM software provides detailed information about the product and services offered by the company. It helps the company to have regular updates about their products which are a basic necessity in the retail and the wholesale market.

4. A motivated SalesForce

An MLM software has some noteworthy features that will motivate network members to perform better.  Reports related to payout, bonus, commissions, rewards, and prizes keep them updated about their overall performance. A comparative analysis motivates them to remain competitive by bringing in more business.

5. Streamlined Business Operations

Multilevel Software is designed keeping in mind the robust nature of MLM business. The high-level features make sure that there exists a high level of collaboration and coordination between the distributors, franchise, admin, sales, and customers. These provide the customer with a streamlined system which generates more value for clients by eliminating the redundancies.

6. Increases the growth of possibilities

MLM software is equipped with features like multi-language and multi-currency to give global exposure to MLM business. These features empower users to transact with different people from different countries.

7. Seamless Integration with payment gateways

The software is designed keeping in mind the changing trends of buying a product. Majority of these people today prefer shopping online. This feature integrates with multiple payment gateways to give a seamless payment management system.

8. Scalable

The MLM software comes with a pluggable architecture that can efficiently support an expanding business. It will grow as your business grows and continues to work with the same efficiency and productivity.

List of MLM plans, the latest concepts in MLM business industry

A good MLM program can be the backbone of your organization and can ensure the seamless conduct of your MLM network marketing apps business. The modern multi level strategies have a number of unique plans to choose from, and each plan has its own advantages and limitations. Here is a list of some of the important MLM plans available:

• Matrix MLM Plan
• Binary MLM Plan
• Board MLM Plan
• Unilevel MLM Plan
• Party MLM Plan
• Hybrid MLM Plan
• Australian Binary Plan
• Generation MLM Plan
• Stair Step Breakaway Plan
• Monoline MLM Plan
• Spillover Binary Plan
• Australian X Up Plan
• MLM Gift Plan

It’s important to study and understand these plans and make a careful choice to see which is the best for your business.

Features that typical MLM marketing software should possess

With the wide array of multi level marketing software available in the market, selecting the best one for your organization is a challenge. Ultimately the choice of the software is based on how cheap and low-cost MLM software, goals and objectives of the organization, yet ensure that your software is accompanied by these basic and vital features.

1. Ease of operation – The best MLM software solutions will be used by a wide range of people, every one of whom might not be able to operate advanced functionalities. The online network marketing software should have a simple interface that can be used by a layman with basic computing knowledge. User-friendliness should occupy the center stage.
2. Reliable and Secure – Since the users will be making online payments via the direct selling software, it should be accompanied by secure payment gateways. The online MLM software should quickly and smoothly process the payments.
3. Easily customizable – Based on the compensation plan (Binary, Matrix, Australian X Up, Monoline, Stair Step, etc.) chosen by employees, the MLM system needs to be customized. Since multiple employees will be working on multiple plans, the software should provide customization options.
4. Modifiable Design template – The look and feel of the software matters to a huge extent. The online MLM software services software should be accompanied by customizable design templates that can be changed as and when required.
5. Integrated inventory – The features integrating the management of sales, stock and purchase should be incorporated into the network marketing apps.
6. Multilingual support – A powerful feature which allows users to operate and work on the software in their native language thereby removing the linguistic barrier.

How does a Multi level marketing software help your business grow?

Adopting the best MLM marketing software system affords numerous benefits for your organization. The key to succeeding here is to understand the features offered and customize them based on your requirements.

Be it a startup or a corporate firm, to survive in today’s hyper-competitive market, you need a software that aids in explosive growth and MLM system does this in the best possible way. Noted underneath are the ways that the MLM marketing software solutions become your partner in attaining success.

1. Reduced risk – If the risk associated with hiring more employees is stopping you from starting your own business, online MLM software services is the solution. With the Multi Level Marketing software, the employees have the freedom to sell to more people and hire more people. Pay people as and how they make sales. You can also hire employees on a commission based package eliminating the fixed income algorithm
2. Greater income potential – The more the sales, the greater the income generated. This is a motivator for many people, why not piggyback on the same to gain maximum benefits!
3. Reduced headcount – Multi level marketing software helps your business expand. If the incoming cash is variable, this is the best method to grow your business while keeping the headcount low
4. Flexibility – With the best MLM program, the businesses have the flexibility to change a business model if it’s not reaping desirable results

What are the key features to be viewed as a buyer of multi level marketing software?

Multi level marketing system or MLM software services contain a holistic set of tools that are required to manage and organize MLM accounts. There are a number of advanced MLM website software available in the market, and the choice of the software should be based on organizational budget, goals, and objectives. So make sure that your software is accompanied by these basic and vital features:

1. Multi-Language Support: For a customer, client and business team's convenience, MLM back office software should support multiple languages. This allows users to use the software in their own language and gain familiarity with its features. Having all the software options explained in a language fully understood by the user enhances ease of operations.
2. Multi-Currency Support: In the global marketplace, organizations need to do business in various countries and different currencies. The multi-currency option allows online MLM applications users to conduct business transactions in the currency that they are familiar with – thereby enhancing ease of operations.
3. Backup: A reliable MLM software should offer users a robust backup system that creates complete backups and stores them in a secure environment. This will help you recover any data loss due to human error, theft or damage. So it is extremely important to have a strong backup system feature in network marketing software.
4. SMS integration: SMS is definitely one of the best and quickest services that allow users to convey their message through a few clicks. It enhances the mobility of communication and is a must-have feature in MLM applications. It enables the software to send automated messages on important events such as registration of new members, commissions’ updates and payment transactions.
5. E-Pin: Electronic pins are secure codes generated by the MLM system and this is a useful facility. It has a diverse number of uses such as online registration, online purchase, member renewal and signing up new members. Electronic pins come handy as they increase speed, flexibility and smoothness of MLM business dealings.
6. E-Wallet: An E-Wallet in Multi Level Marketing software is a virtual storage space that stores information about electronic cash. It also guarantees easy and secure E-commerce dealings. Financial transactions can be completed within seconds and it is the ideal feature to manage all your cash transactions.
7. E-mail: MLM applications should have easy integration with your e-mail so that you can manage your business communication from a single place. You can comprehensively manage all your emails in an organized way and even have full access to your mail while you are on the move-thereby remaining connected all the time.
8. Franchise Management: If your organization has franchisees, then it is not necessary to invest your valuable time or effort to look after them as the MLM program has integrated features to manage the franchisees efficiently, check their status, product stock levels and several other aspects very conveniently. Multiple levels of franchises can order product requests and process the order directly from the company head office – thus ensuring a seamless flow of business operations.

Do this before finalizing an MLM software

If you belong to a multi level marketing company, you will need the best MLM software to keep your head up in the MLM field. Choosing a software that meets your organization needs is not an easy feat. Do not choose a software without knowing all the features available with the software. Here are a few tips you should know before buying a software for MLM business:

1.  Identify the challenges you are facing
   You should know all the possible loopholes where MLM software can win. Jot down all the tasks you want your software to do. In other words, list down your expectations from the software you are going to buy. Concentrate on what you” need” rather than what you “want”.
2. Calculate the budget
   No one else but you have a better idea about how much you can afford to spend on an MLM software including implementation and support. Apart from the software cost, you must make a proper budget for software updates and other maintenance services.
3. Search for the best plan
   Currently, there are a number of MLM plans available in the market. This includes Binary, Matrix, Hybrid, Australian Binary,  Forced Matrix, Uni-level, Generation plan, Party plan etc. Among these go for an option that works the best for your company environment and budget.
4. Hands-on and evaluation of MLM software
   If possible first use the free demo version of the software you are planning to buy. Evaluate each and every factor from your employees perspective. Check for the navigation, ease of use etc.
5. Evaluation of the features
   Once you are ready with the top five software that best suits your business, very meticulously analyze and evaluate the features. List of features you need to ensure in any MLM software are:

• Support for multi-language and Currency
• Backup system
• Secure payment/ Transaction Process
• Equipped with the latest technology
• Integrated with the e-commerce shopping cart
• Facility for the integration of E-mail, E-pin, Ewallet, SMS integration
• 24x7 customer support

Getting the best Multi Level Marketing software for your business is a difficult decision to make, but it’s important to scan the market environment and vendors in detail so that you can make the best choice for your company. These features are very important and any user of multi level marketing software should be sure to include them so as to gain the maximum business advantage.

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