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Epixel MLM software is integrated with the latest technologies such as business intelligence, intelligent automation, data analytics, etc to successfully organize every network marketing and direct selling More
What is so complex about the MLM industry? Obviously, the answer is network expansion and commission calculation. To expand your network you need distributors who are competent and creative in developing their own marketing strategies. Well enough, what does it take to simplify the commission calculation process in MLM? It’s a hard but true fact that it cannot be done manually. Manual processes are tiring and highly error-prone. The perfect way out is to automate it with technology.
Commissions will be paid out accurately on each specified commission cycle. With smarter commission calculation platforms (https://www.epixelmlmsoftware.com/mlm-commission-software ) you will earn insights (https://en.wikipedia.org/wiki/Insight ) with your company sales to commission payment ratio and you can make alterations to suit your strategy. You will also be able to track your distributor and team commissions and also rank-based commissions. With a proper system in place, you will gain complete control of your business by deciding how much should be paid in total on commissions alone. There are splendid platforms that even provide you with an analysis of qualified sales and their correlation with business growth. The higher the correlation value higher will be the business growth. Standalone payout systems come with globalization (https://www.globalization101.org/what-is-globalization ) features too so you don’t have to look back when your business is ready to cross borders.
Many prestigious awards (https://www.dsa.ca/award/ ) such as the Ivan P. Phelan Award, Mark of Distinction Award, Community Spirit Award, Industry Innovation Award, Making a Difference Award, and Partnership in Progress Award were announced.
The different awards and their recipients are,
Ivan P. Phelan Award - Susan Timmermeister, Director, Strategy and Business Services, Mary Kay
Mark of Distinction Award - Garry Coles and the late Kimberly Coles, Independent Business Owners, Amway Canada
Community Spirit Award - Jennifer Dekezel, Canadian Associate Market Mentor at MONAT Global Canada
Industry Innovation Award - Mary Kay, Skin Analyzer App
Making a Difference Award - Mannatech, Nourishing Hope Campaign
Partnership in Progress Award - Millar Kreklewetz
Direct selling is a booming industry in Canada and offers many opportunities (https://wfdsa.org/benefits-of-direct-selling/ ) to develop and build strong and profitable careers. As per stats, 1.2 million Canadians have been enjoying entrepreneurial opportunities and professional enrichment. Direct Selling Association in Canada follows a strict ethical code of conduct and performs an important role in helping grow and secure its member companies and individuals.
In today’s competitive marketplace all you need to stay connected with your customers is to have an exceptional strategy delivered straight to their fingertips. With several marketing strategies in place, it’s difficult to differentiate which one best fits your business.
Again, there are numerous online marketing tools and techniques and which one will you choose to stand apart from the crowd?
Affiliate marketing (https://en.wikipedia.org/wiki/Affiliate_marketing ) though not a novel marketing model is a proven strategy to grab customers online. The highlight of this model is that it works on a no-investment landscape. Digital space is the only investment an individual will need to be an affiliate marketer. Again for the companies, since this model is purely performance-based, there is absolutely no place for payout concerns.
From an individual’s point of view, the freedom to promote products of their interest and introducing them to their social circles is fascinating. This is a cost-effective model for all the organizations in different business domains to bring in more sales and brand awareness.
Multilevel marketing is a popular business strategy adopted by many countries for the distribution of their products or services. The distributors can add more recruits under them and these distributors are independent. They can receive a commission or bonus based on their recruits. Some people consider this as a scam but in reality, these MLM (https://www.investopedia.com/terms/m/multi-level-marketing.asp ) strategies have been adopted by many countries and they are offering people to earn a handsome income.
Direct selling association (https://en.wikipedia.org/wiki/Direct_Selling_Association) is a national trade association that supports direct selling companies. The DSA has presented awards in seven different categories for the companies to honor for their outstanding performance. Amway, the top direct selling company for years has achieved an award in the category of “ Excellence in Business Training” for their contribution in “Project Light Speed”. It also maintained to be in the list of top 25 direct selling companies based on the largest net sales. In 2019 Amway (https://en.wikipedia.org/wiki/Amway) has grabbed an award in the category of Excellence in Business Training.
Read out the blog to know more about DSA award winners: https://www.epixelmlmsoftware.com/industry-news/us-dsa-awards-2020
There is also a list of the top 25 direct selling companies based on the largest net sales. It includes companies like Amway, Nu Skin Enterprises, Modere, Medifast, etc. This implies that many companies are experiencing positive growth and also they are been able to aware people about the positive impacts of the industry.
Social media platforms have an important role in changing the way we live ( https://www.apa.org/members/content/social-media-research ). For many years it has been part of our daily lives as it allows us to connect with friends and loved ones. However, lately, the attitude of people towards social media platforms is changing. Social media platforms are scrutinized now more than ever. The major reason for this backlash is that more people are getting involved in social media and it is also impacting our daily lives. As a result of this backlash, major platforms have made phenomenal changes in their guidelines. The latest on the list is the young and growing platform TikTok.
TikTok has a user base of around 800 million. At the end of 2020, TikTok made major updates in its guidelines. One update that caught everyone's attention was their take on MLM. Along with banning Ponzi and pyramid schemes, TikTok also banned the upload of MLM contents ( https://www.tiktok.com/community-guidelines ).
MLM or network marketing ( https://en.wikipedia.org/wiki/Multi-level_marketing )is a type of business model where products and services are sold directly to consumers. This legit business model has been around since the 18th century. With the advancement of technology, the distributors of MLM companies started to find their customers through social media. This window of opportunity has been exploited by many fake MLM companies by spreading false claims and misleading information to lure more people to their business. By this ban, influencers spreading false claims have lost their space. Thus MLM companies who sell their products and services lawfully can now flourish their business. Read more from the blog https://www.epixelmlmsoftware.com/industry-news/tiktok-bans-pyramid-ponzi-mlm-schemes
Customer Relationship Management or CRM (https://mailchimp.com/crm/benefits-of-crm ) manages interactions with customers and potential leads. It helps direct sales companies to build profitable customer relationships.
Intelligent business tools analyze your business data and provide smart insights. Businesses can use this data to develop plans to improve their strategies.
Distributor training suite helps distributors and members in your business to learn more about the products and services the company offers.
Virtual party sales prototype is an efficient tool that allows distributors to market and sell their products through online platforms. This helps them to take their business to markets at the global level.
MLM software is an integral part of the MLM industry. It helps the MLM companies or admin teams in organizing, managing, and controlling the entire business. The development face of MLM software is directly influenced by many factors. Let’s look into some of the commonly faced challenges. Visit the blog https://www.epixelmlmsoftware.com/blog/mlm-software-development-challenges for a complete understanding.
Commission ( https://en.wikipedia.org/wiki/Commission_(remuneration) ) calculation and payment is one of the important functions of an MLM system. Setting up a commission engine that can automate complex calculations without any failure and distribute commissions to salespeople on time is one big challenge for developers. Tracking distributor activity and offering valuable insights to administrators by analyzing these data is crucial in MLM business. These insights can change the course of the business strategy. Thus accurate tracking of distributor activity and preparing actionable insights is a challenging task to look for in the development stage.
Setting perfect rank criteria, calculating individual compensation and generating reports, adding more modules if the requirements get wider and need to edit the existing codes in a way that meets the new criteria, integrating new technology to the system without causing any issues in the existing system are other pain points in the development stage.