MLM marketing or network marketing is not something new. According to a survey, more than 73% of adult consumers rely on non-celebrity advertisements. This means they are more likely to buy a product when a known face or a common man testifies for the product, rather than a celebrity vouching for the brand in a million-dollar advertisement. This is the basis of MLM and it has been an age-old business sector.
However, when it comes to the business world, there is always something new and trending. You ought to keep it up with the trend to keep up with the competition in this world. If you snooze for a minute, you would lose your customers and soon become obsolete. MLM is enhanced with numerous software packages in the market. Not many companies are operating manually in terms of recruit management, finance management, event management and so on. There are numerous marketing software for MLM. What trends should you be looking forward to in 2021 when it comes to marketing software for MLM?
Online party options
You would need an MLM marketing software, which would focus on the online platform. One of the most trending concepts of recruiting more players into the network is social medial. Your software should have features enabling you to create online parties in social media like Facebook, Twitter, Pinterest and so on. These virtual parties would be very cost-efficient and you can create many events to involve as many people as possible.
Instant payout options
Gone are the days when your team would wait for their paycheck for a month or week. With today’s improvement in information technology and the internet, paper-based income has become outdated. A good MLM marketing software should have an e-wallet feature with many options like PayTM, PayPal and others. It would be an added advantage to have other virtual cash payment methods like online banking, debit cards, and others. With these methods, transactions will be done instantaneously and your team would be motivated better. Instant payment is the best way to increase trust among new recruits, and it would be much easier for you to grow your base with loyal participants. If you have great payment history and positive reviews, you can also outreach influencers to join your network. Include examples of earnings in your influencer outreach email and snapshots of testimonials as social proof.
Handle intangible products too
MLM started with household objects, healthcare products, cosmetics and so on. However, this is not going to be in this same genre for longer. Starting from insurance to cryptocurrency, the MLM sector is getting open for intangible products too. This incorporation of intangible items has given rise to a new trend of MLM marketing software packages, which are flexible for services and products too. If you are planning to switch to an intangible product or planning to include value-added intangible service to your product, it is better to look out for such software.
Compliance
MLM companies are growing at a steady and high-speed rate. This has given rise to many scams and false advertisements. It is not a shock to know that there are numerous bogus MLM companies trying to rip off customers, as we speak. To keep up the integrity of the sector, the regulatory bodies of commerce have come up with many policies, regulations, and criteria for MLM operations, recruitment, and other departments. There will be a dozen more such regulations in the near future. It would be hard to keep track of those regulations, criteria, and policies. To aid the business runners, MLM marketing software should be able to update with the regulations and provide necessary features for the users to keep up with the policies.
Scalability
Although MLM is famous for its pyramid structure, showing that it is always growing, the software for MLM is not very much focused on scalability. In the past, MLM has been an additional source of income or a hobby for those who are not into a full-time job. With the current advancement and opportunity in the MLM industry, it is growing as a full-time job. Thus, the best MLM marketing software should be able to adapt to the increasing number of members. When your employment base grows, your requirements from the software grow too.
Cover globally
In 2021, MLM marketing software would have global coverage. With technology advancing, the world is shrinking. It has become easier to perform business from any nook and corner of the world for the audience on the other end of the world. The members would be widespread around the world and this gives more opportunity for the distributors to cover a diverse audience. Starting from currency rate calculating facility to international compliances, the software should be able to cover a diverse audience. Reaching the audience throughout the globe is becoming more common and the best network marketing tips will help you take your product out to the world.
Mobile application
Everything has come down to mobile. Not a lot of people prefer working with a laptop or desktop. Trending MLM marketing software will have mobile tools to run the business from anywhere and anytime. It is not just about creating a responsive website suitable for all mobile screens. Starting from tracking growth to advertising to your audience via mobile game advertisement, it is time to think in mobile-style.
Custom-built software
This is not something new but, it is sure to stick as a trendy option even after a decade or two. Customizing the MLM marketing software to suit your business is a very professional way to conduct business. It makes things much easier and gives a branded look to your business. Do not settle for some random guy from the internet who would create software for you. You need a tailor-made software specifically suited for your style of product, demographics of the audience and so on. Always choose the best software provider, to begin with.
On the same note, if you are a start-up MLM company, you need not spend a huge chunk of your working capital on tailor-made software. There are numerous top-notch packages with trending features already available. Choose small and as you grow, you can scale up your marketing software too. Also be sure to check out options like AlchemyLeads as well.
These are just predicted marketing software trends to pick up in 2021. Things can change even at the eleventh hour when it comes to business. Thus, it is important to be open to all the news and information about MLM software.