In this article we discuss 7 Trends in Network Marketing also known as multi-level marketing or direct selling marketing.
Network marketing is a business strategy in which the brand employs agents to take the products
directly to the customers. This process eliminates middlemen from the supply chain and allows
customers to directly interact with agents who sell the products.
Network marketing is also known as multi-level marketing or direct selling marketing. The concept has
been in use for years. Many top brands have been successfully following the network marketing model
and making profits.
Increased returns and profits are the two major benefits of using network marketing. However, not all
enterprises have been successful in getting the required results using this business model. Not using the
latest software is one reason. Not understand and following the trends is another. Other factors such as
not paying enough attention to customers’ needs, agent dissatisfaction, wrong compensation model,
etc. also play a part.
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Using the best network marketing software can help brands stay updated and compete with others in the market. At the same time, following the most important trends will help in establishing the brand among customers and target audiences. It will assist in developing brand loyalty in the market and expanding the customer base.
The following are some of the trends every network marketing business should implement.
Importance of Brand
With so many new businesses entering the market, the brand needs to establish itself in the market.
Customers should be able to identify the products of the brand without having to think about it. The
brand name should generate interest in the target audience and push them to try the products. They
should be able to associate the brand name with a specific positive feature such as high-quality
products, affordable prices, great customer service, and so on.
Affordable and Negotiable Prices
Even though the quality is equated with a high price, a good number of businesses are able to deliver
quality products for customer-friendly prices. Brands that follow thenetwork marketing model haven’t
until recently focused on making prices more flexible and negotiable. When a customer feels that the
brand is willing to reduce the price by at least a little margin because of a request, it makes the
customer satisfied and happy. This is one of the trends that is slowly catching up.
Unique and Innovative Products
The network marketing model is mostly used by brands that sell engaging and useful products (including
financial products). While the products could be any, bringing innovation and something new to the
market will help with brand promotion. It will also give agents a tool to approach the target audiences.
For example, natural skincare products are now in demand compared to the ones made using chemicals.
When brands focus on introducing new and exotic products, they can grab a higher percentage of the
market share and get more profits.
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Targeting the Global Market
The top network marketing brands have gone global years ago. While they followed a different
technique, technology has made it simpler in the current scenario. MLM software can be used to create
a website for the brand with a multilingual module that allows people from any part of the world to
check the products. The multicurrency module makes it easy for them to make payments in their
respective currencies. Brands will only need to work on the logistics of delivering the products to these
customers.
Reducing Signup Charges
Agents need to pay a one-time signup fee to become a part of the network. While some brands have
completely removed this fee, others are gradually reducing the amount to attract more agents. By
reducing the signup and inventory costs, brands are providing agents with a chance to offer better
discounts to the customers and also hire new agents.
Online Agent Training
Agent training has almost always been offline (if there was any). Agents were trained only once when
they first joined the business. Now, with increasing pressure on them to bring more customers and
generate sales, it has become vital to provide additional training to agents and motivate them to achieve
their targets. Online training modules are being created using MLM software to provide training and
encouragement to agents.
Online Sales and Payments
The best network marketing software allows various payment gateway integrations along with
multicurrency modules and e-wallets that make it easy to make and receive payments online. Agents
can finalize their sales through the website instead of personally meeting the customers. The
commission to the agents is also paid online and credited to their bank accounts.
Even though network marketing doesn’t call for extensive promotion and advertising, digital marketing
has become an important part of the process. Using MLM software not just streamlines the business
model but also helps in focusing on digital marketing and attracting customers online by integrating the
software with the website and social media platforms.
