Understand the MLM Compensation Plan

One of the most important aspects of Multilevel Marketing is the Compensation Plan. Unfortunately, most of the distributors fail to understand the various compensation plans being utilized in the network marketing industry.

In multilevel marketing, distributors earn their income called commissions and bonus through the compensation plan based on their ability and performance. The commission is the amount that is earned by the distributors when he sells the product in the market purchased from the company.

While Bonus is the amount paid on downline sales. In general, there is two type of bonus.

It is highly recommended to select MLM compensation plan after taking into account many fact and figures. The factors which need to be considered are:

Product Type: Closely evaluate the type of product for which compensation plans need to be used. Binary or Matrix plan can be used for virtually any type of product range.

Experience: The level of experience a company possesses in the industry. Binary, Stairaway compensation or board plan can be used by the company who is 1 day old as these are very easy to operate.

Country: As far as MLM is considered one also need to take the country into account. Some compensation plans are banned in some location. So carefully select the country in which you want to operate or expand.

Altogether there are different compensation plans likewise:

Just keep in mind the above points while choosing the perfect compensation plan that would provide the attractive commission and lucrative bonus.

Advertisements

Technology and Direct Selling

0510_ws_726

Technology is highly impacting direct selling business and its experience. It is a change agent of the practices followed from decades by direct sellers in working and selling – right from businesses projecting their products and spreading the value message to how distributors apply the new tools to the reaction of clients for the service delivery speed.

Technology: Enabler & Challenger

The traditional form of direct selling is person-to-person marketing. That form is getting replaced by internet technologies and exploding social media. Many companies have adapted to the change and many are in the process of accepting the change, however every coin has two sides which implies that technology application have pros and cons both on direct selling.

In few decades there have been tremendous changes in how we access the information and the amount of information we can get. It is a blessing that we have abundant resources of knowledge at our finger tips which removes our confusion and facilitates to take smarter decisions. Today the world has become global community and even bridging the generation gap and for that we are grateful to technology.

For direct selling companies, we are today required to reassess the tradional nature of face-to-face marketing. Businesses need to understand very critically the impact of mobile phones, websites, podcasts, webinars, emails social networking sites and all the other avenues on the internet. As, it is changing the relationships between and within the manufacturers, distributor and consumers.

Mobile phones, say Smartphones or PDAs (Personal Digital Assistant) are powerful tool of networking today in direct sales which has brought the revolution. It has brought the exponential change in the speed and efficiency in communication techniques.

Emails are highly effective in maintaining the relationships which have been once developed, that is for time to time updates like launch of new products, promotions, new outlets, discounts, coupons and follow-up procedures. Emails help in getting in touch with the acquaintances from the yester years also. Thus it helps in maintaining the existing acquaintances.

Websites are easily accessible to mass which provides all the information about the businesses. It also solves their doubts and confusion with relevant source of the business itself. It helps to get in contact with the organisation and get into further communication. It also help the prospects compare the products of one brand to another. Nowadays, website is a must for any kind of business, whether small or an enterprise. It is the identity of company in virtual world.

Podcasts provides information through digital audio about products & services for the mediums like photos, presentation, voice-over presentation etc.

Webinars are very helpful in providing online training or holding an online interactive seminars.

Social Networking sites like Myspace, Facebook, and LinkedIn are helping to adapt from traditional emails into a more socially threaded interaction platforms. When social media sites are used in combination with the traditional form of networking like holding parties, it brings out the best of two. Because, those staying in the approachable vicinity can meet face-to-face but those who are living oceans apart can meet up and socialise regularly through such sites.

No doubt, technology is advantageous but should be carefully treaded. Businesses can be fast and easily connect with the global community but the negative information about their businesses can easily divert the consumers to the other companies than it happened in the past. Hence we can say, it is a double edged sword which needs to strategically manage to leverage the most out of it. Google and Bing have changed most of the equations, infact redefined the equations. Businesses can easily positions their brands and voice it out to the public but simultaneously the same public can be diverted by criticisms or negativities voice out for the same brand. Thus it adds to the existing threats or challenges of the businesses.

In addition to above challenges faced, are e- commerce and m-commerce (mobile commerce) which have redefined buying culture worldwide giving utmost consumer satisfaction. But this challenge should not considered as a threat, it should be integrated with direct sales which will augment the sales of the products and services.

The business model of the direct sales is redefined because technology has shifted the powers from businesses to consumers. Consumers are the king as they have access to all the information and cannot be easily lured away. If taken positively, it gives a competitive advantage by sharing valuable personal information. In addition to that, even customer service is the topmost priority of the businesses. It incorporates use of high-end technology to get that personalised feeling of actual interaction.

Technology is an enabler and a challenger. But a challenger can be a good enabler if taken constructively and competitively by having a flexible and adaptable attitude. Change is inevitable in tech-era and that change has to be incorporated fast. More the businesses are fast, more they are ahead. Leaders are those who transforms the challenges to agent of change fast!

Why should I Use MLM Software?

 

490316629

For any services to avail, the very first question which we ask is as why do we need that service or product, right? Same is for MLM software, every mlm company will ask why I need a software for my business? The reason behind their question may be because they are just starting with the mlm business or it’s just a startup or the company is currently doing sales inspite of having a software. Either they are ignoring the future demands of the growing business or day to day procedural requirements, or they haven’t done proper calculations for their business’ present and future requirements.

The first question, any mlm business owner should ask is what my core business is. To focus on my core business, how much of my work should I automate? Will investing in technology and automating certain mundane tasks will help me? Will mlm marketing software help me in other tasks, which otherwise will consume my time and energy and divert me from main focal point of extending network?

These are all the fundamental questions which any MLM business owner should have the answers if he/she is really motivated to turn their dreams into reality.

The basic requirement of MLM business which has to be incorporated in the mlm software:

Compensation/Business plan

Calculation of the payouts

Payments and Accounts Management

Signup management

Genealogy reports

Distributors’ information or the Membership management

Downline Management

Inventory Management

Contact & Communication Management

Web Management

MLM marketing software has to be integrated with Ecommerce website to showcase their products and services in the most impressive and compelling way to the prospects. This facilitates

Higher Reach

Higher effective Marketing

Web responsive website – can be accessed from various digital devices

Website in various languages

Payment through various gateways

Payments in various currency

Clear shipping and transport terms & conditions

Higher satisfaction in Customer service

As the business grows, it has newer and bigger demands, for that software should be flexible and scalable.

And above all this the most important aspect is that whatever data input has to be extremely secured and there has to be regular backup procedure.

Listing few advantages of Ventaforce – A comprehensive MLM marketing software

Speed – It is software product from the combination of latest technology and expertise in MLM domain.

Quality – Ventaforce is created by following all the processes of Software Development Life Cycle, quality checks have been carried out at each process level and adopted systematic and effective methodology for error solving.

Services – It is our best feature! We do not only provide software, but even build relationship with solution-oriented approach. We provide 24X7 dedicated service to all our clients.

Experience – We are in the business of creating mlm marketing software since 2001. With our consistent endeavours to give the quality products & services, we have client base in 30+ countries, with 3000+ installations which has proved our skills and expertise.

Scalability and Flexibility – Every software needs to be scalable to meet the demands of the growing business. Ventaforce easily scales up with your growing business. Flexibility is a very important feature of a software as with changing technology, software should be ready to adopt to the new features.

Data Security – High level of importance given to server security. A dedicated person takes regular data backups and monitors server functionality. It provides password security in encrypted form.

Conclusion is that mlm software is an important requirement for the network marketing business, if you want your dreams to be turned into reality.

Ventaforce from Sankalp is a one stop solution for MLM and a trusted partner to achieve leadership in this domain.

Tips On How To Build Your Downline In Network Marketing

Build-Downline-Network-Marketing-Ventaforce

In order to make money in network marketing, you need to sponsor people, who then become your downline. This type of a structure provides you with, financial returns for the sales done by the people you have enlisted and by those they sponsor. The strength of a downline determines the success of any Network marketing. The most important thing that worries a newbie, when joining the Network marketing industry is How To Build A Downline.

Prospecting

Enlist your warm market

Though it is not recommended by many experienced network marketers, it is definitely worth a try. You can try and prospect to your family, friends and neighbors and maybe then pursue the ones who are receptive. However there are also negative consequences in tapping your warm market. It can make a social outsider in as gatherings and family functions.

Advertising

Though it can be an expensive way of attracting prospects, it sometimes does have positive results. There are various options you can select to advertise, like mailers, newspaper classified ads, MLM Magazines or dedicated MLM related websites, emails, blogs, and lastly the social media. MLM dedicated websites or MLM Magazines can attract a response from experienced Network Marketers. However the advertisements need to be visible for a considerable period of time to receive any response.

MLM Genealogy Reports

An MLM Genealogy report is the database of a person’s downline. Many network marketers provide the genealogy report of their downline. These reports contain all the details of the members along with their contact information and address. It is more profitable to prospect to an experienced network marketer than a rookie.

Enlisting

Once you have the database of all the people interested in your business, you can arrange an informal meeting for all your prospects after screening them first. You can ask for assistance from you upline to effectively present your business. Once you have explained all the details, they need to decide on whether they want to be in this business, after that sell them a start-up kit. Be assertive in find out if they are ready and ask your prospects to enlist.

If setting up an informal meeting is not possible, the next option would be to meet your prospects personally and present your business. Always ensure not to make tall claims, but be realistic. Beware of people who wish to enlist with a “get rich quick” mindset, they are also the ones who would be the first to quit in troubled times.

Always show loyalty to your brand. Build trust within your prospects, so they are assured of continuous support in case they enlist.

Mentoring and Training your Directs

Mentor the directs and encourage them to invite people exploring business opportunities. Offer support to your directs, listen to their problems and issues and try to provide them with realistic solutions, which will benefit them, not just yourself. Motivate the directs so that they continue in their efforts to grow the business, by sponsoring more people and contribute to building the downline.

In assisting with the building of your immediate downline and those they sponsor, you start making money for all the people involved.

Winning Strategy of Top MLM Companies

MLM software

Strategy is requisite for every work particularly when you are in MLM business. Share of top MLM companies are no less than in the range of 5-8% in Fortune 500 list. There must be something different strategy which make them winner. We are going to figure out some winning strategy being used by top MLM companies.

Placement policy: The main criteria underlying the distribution strategies are: the dimensions of the distribution channel, the size of the distribution, the degree of company participation, control degree, elasticity degree and the logistics of goods. A strategy of top companies is to reduce time that passes since the order was placed by the representative until the ordered products are delivered to representative residence.
Recruitment policy: Success story is being created by your members or down line. Hence recruitment policy implies key aspect of any MLM company.

Top MLM companies Follow Below Recruitment Policy:


  • Develop long-term customers, and recruiting comes naturally.

  • Mentor your new Distributors and share your personal success experiences.

  • Check consistently. Communicate with your down line by phone, in person and via email.

  • Encourage your down line to attend events and take the time to meet them at trainings.

  • Tap into your Circle of Influence by asking for referrals.

  • Company events to online tools; provide best training and sales support.

Utilizing Unique Selling Proportion: USP is the distinguishing factor that separates you from your competition. It is the key reason your prospects should buy from you. It should be the centerpiece of all your marketing efforts. That is what set top companies apart from others.

Informative and Convenient Direct Marketing Software and Website: A common thread that binds all top network marketing companies is use of one of the best website and software for their MLM business. Informative website which makes visitor comfortable in searching all content; convenient MLM software for all hassle free services is prerequisite for any MLM company.

A successful MLM companies required dedication toward everything right from recruitment to promotion. Taking a leaf out of top MLM companies surely provides a great insight for your MLM business.

Reliable and Trusted MLM Software to Run your Business

With in line to our previous discussions today we present the need as well as solution for most reliable and trusted MLM software to run your business.
As we know that to make a mark in the world of Network Marketing you require a strong and comprehensive platform of reliable software and attractive front store which would help you to promote your business universally in a very effective and efficient way.
The solution is MLM Software; It is changing the traditional direct selling business practices. It is a revolutionary concept for global existence of your business.
MLM Software possesses all the requisite features to ensure MLM business remain safe with this most trusted and reliable software.
MLM industry is growing rapidly in present scenario and with this growing number the requirement of direct marketing software is prone to increase. The software facilitates MLM companies to have their own database where they can have information on members, downline, network, Earnings, product status etc. To grow their business MLM companies need multi level marketing software that can reduce time, manpower and to increase the accuracy of the earning statement.
Need of reliable and trusted software:

Foresee the Challenge: reliable network marketing software should be capable of foreseeing the challenges. Varied downline members, new member joining, tracking their performance, compensation possesses a hefty challenge. Which in turn demand trusted software.

Network Promotion: The software assists people to come up with new ideas about different occasions. It should provide a specific history of the information that describes the interaction between all the associates associated with the company and the organization at large. This allows the control to quickly achieve a referrals point and find any needed source details without any problems and waste of time.

Circulation of Details: MLM software facilitates circulation of details from member to company & vice versa. This facilitates reliable, sleek & exclusive interaction between member & company.

Complete Database: It is imperative that there should be complete & precise history of business’s available sources, book, collection as well as improvement reviews so that choices like business development, certain termination, partnership & compensation review can be successfully reviewed & stored.
Solution to enhance MLM business with reliable MLM software:

  • MLM software conceptualizes the vision of reliable and trusted software in reality.
  • Frontrunner in MLM coated with broad expertise in this industry provides all the requisite features to boost MLM business.
  • All data can be exported in excel as per need arises.
  • Data security is utmost priority in network marketing software. Backup has been maintained to recover data in case of emergency.
  • Software scalability & flexibility provide any future changes.
  • Secure & easy sign up by using E pin, E wallet or any other payment processor.
  • Software supports multiple language & currency to help MLM companies globally.
  • Multiple administration facility allow access to required action while restrict the more sensitive one. This helps the business more secure and reliable.
  • Softwarefacilitates to publish news and events effortlessly on website to keep the members about latest happening.
  • Promote flexible inventory and product management system.
  • Add on features include E-commerce portal management which facilitate online shopping in turn increase the sales volume along with network marketing.

So what are you waiting for???
Secure your MLM business future with MLM Software from a trusted Mentor. Choose the efficient MLM Software with exciting features which is the backbone of MLM Business. Without capitalizing massive amount still availing full facilities and benefits.

MLM Software, Direct Selling Marketing Software, Network Marketing Software, Australian Binary MLM Software India


MLM Software named MLM Blaster developed by Sankalp for Direct Selling Software, Unilevel, Binary, Matrix, Australian Binary MLM Software, Direct Marketing Software, tri Binary, spillover, Board, UNI – level , Multi-Level Marketing Software India, Network Marketing Software, Network Engineering Software, Party Plan Software, Compensation Plan, Home Based Business Software.

Sankalps mlm-blaster has become an industry leader amongst MLM software applications. Our MLM software is full proof filtered solution for mlm companies. Customer support being our highest priority, we will always ensure your full satisfaction. 

Our MLM Software System includes Member & Admin Management, Online Genealogy, Messaging, Member Profile, Welcome Letter, TDS calculations, Statistical (Graphical) reports, Incentive Calculations, Cheque printing, epins, ewallet, HelpDesk, CMS, SMS module integration, Auto Backup, Incentive Voucher etc..

Our vast experience in Developing MLM Softwares, enable us to deliver Best software to suit any type of MLM concept in-time. We deliver perfect solutions to any MLM and Network Marketing Software concepts with multiple & advanced features, endless Imaginations & ideas executing and making the project as per the specifications required by clients.