Take Your Business Worldwide with Multi-Currency Feature

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Multi-Currency feature of a network marketing software enables you to do business world-wide. We all know that different countries have different currencies. Though the common currency is USD, to tap those markets for your business you have to do business in their currency and allow them the conversion. So, multi-currency features enables you do business in different currencies for the same products or services.

Let us take some examples:

  • Your business is based in India, and you have customer in one of the European countries who wishes to buy your product but can pay in Euro and not in Rs.
  • Your products are say for example health and lifestyle products. These products are high in demand in western countries and are not manufactured there. So you have prospects in various other countries and each can pay in their currency.
  • You are a company based in India selling jewelleries. Your suppliers of say Gold is in Dubai. They insist that you purchase in their currency only.
  • All your competitors have spread their business worldwide by doing business in respective currencies. Would you like to be left out?

If you have taken your MLM business online then would you restrict only to your home currency? If yes, then you would lose out on most of the international clients, as nowadays all clients prefer localisation. They would not prefer to do business with you if they find a foreign currency i.e. your home currency. As they would have to bear foreign transaction fees and thus they would end up paying more from your online store rather than a local online store.

Whether the company is big or small, it depends on the product where it is having huge demand. Many small businesses offer products which are in huge demand overseas.

Thus it is advantageous to switch to multi-currency as either International Government Regulation or business model does not support single home currency and keeping in mind the above examples. Hence your MLM marketing software must support the sales transactions and receivables & payable in multi-currency.

As an Admin of the software, what you need to do is –

  • Select a Primary Currency or the Home Currency for your business
  • Activate a list of other Currencies for your distributors
  • Update Currency Conversion rates at regular intervals

Primary Currency or the Home Currency is the one which your company uses to do its business. The income of the company is calculated in this currency. For an e.g., a MLM company headquartered in India has its distributors in US, UK, Japan and Spain, for this company multi-currency is most relevant. Its financial figure will be reflected in terms of Rupees, so its home currency is Rupees.

As a Distributor, what you need to do is –

  • Use the desired Currency while entering the amount field for a transaction or related purpose
  • Generate sales orders, purchase orders and invoices in that selected currency.
  • View reports in your primary currency.

Let us summarise the advantages of multi-currency:

  • Customer Experience
  • Get more Customers
  • Go Global by getting into international market
  • Payment through Multi-Channels
  • Set Currency as per requirement

Thus the multi-currency feature in Ventaforce gives a competitive edge to seamlessly handle business transaction in the global marketplace. If you have worldwide distributed clients, multi-currency will facilitate international selling.

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Technology and Direct Selling

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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?

 

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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.

What is Franchise Management and why does MLM Marketing software needs a module for Franchise

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Franchise Management is one of the important and very useful feature of the MLM marketing software. This feature supports the business expansion by easing the management processes of various franchises anywhere in the world under single admin.

What is Franchise?

Franchise is long term investment- say for example 5 or 10 years in business license. In this kind of agreement, franchisor grants the permission to franchise to market and distribute their products & services using their trademarks, tradenames and business systems. They have to hire their own staff but they get the various assistance like business site selection, business-setup, training of the staff, advertising.

Franchise is a promising way of expanding business which ensures network development with strong marketing and distribution system. It invests in the license and in return it does the business under Franchisor’s brand and expertise. Thus Franchisor is able to develop brand equity and expand capital at much faster rate and with minimum risk.

Since Network Marketing in based on maximising the width of the market, Franchising proves to a good opportunity. So best MLM marketing Software Development Company provides the franchise module with the software to facilitate the smooth management of all the franchisees.

In order to expand your client base and high business growth by franchise model, Ventaforce – from Sankalp, provides assistance in establishing franchisees right from the conceptualisation of the business.

Ventaforce MLM Marketing Software is with Franchise Management. The franchise module of Ventaforce allows to manage different franchises by performing various tasks like issuing a franchise, entering and updating the franchise details, franchise inventory management:

Franchisee Management of Ventaforce includes:

Create Franchisee

In-activate Franchisee

Product request management

Stock Transfer

Stock return

Product delivery

Create Bill Stock reports

Further in detail:

Product Claim Request

(PCR)

PCR
Generate PCR
View Details
Stock-Inward
Stock-Inward
View Details
Stock-Return
Return Goods
View Details
Stock Transfer
Make Transfer
View Details
Stock-Acceptance
Accept Goods
View Details
Order Order Dispatch
Make Dispatch
View Details
Dispatch Details
Make Resale
Resale Success
Order Details
Reports Stock Report

 

It provides complete automation for the necessary proceedings right from placing the product claim request from franchise to the distributors irrespective of location and time to the dispatch of the products. Finally generating an updated report of the inventory. This helps in updating the inventory status in real time across all the franchise locations.

Most of the MLM business needs to distribute franchises for their business and we assist them by providing this exclusive feature in our MLM marketing software to manage franchise and its inventory.

This characteristic which we possess is reflected in all our softwares developed by us at Sankalp. This makes our Ventaforce a complete One Stop Solution for MLM Marketing Business.

Best MLM Forums on The Internet

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So you are sick of searching for best mlm forums and finally you decided to click on this article. Well today I am going to show you the best mlm forums available on the internet that are very few people know about these forums. Let’s dive into top 5 MLM Forums available for you on the internet.

1. Warrior Forum –

I think you may or may not heard about warrior forum but the really cool part about this forum is that it ranks really high in the search engines. Even though I have found many discussions from this forum which are ranked number one in the google searches. The one better thing about the warrior forum is that it doesn’t have any topic about mlm but still you can find many more related topics about mlm and its business.

 

Statistically, Warrior ranked 352 number in the Alexa Rank. It has domain authority of 80. This site is more than 17 years old.

2. V7N Network Community –

It is an internet marketing and web development website you can’t find more topics on this forum about mlm but it fairly related to mlm business because many people discuss things about mlm in this forum. You could easily get your name from this forum. But before you post your links over there you have to post atleast 30 posts to appear your own website.

 

It ranked 7540 in Alexa, they have more than 250,000 registered members and aged more than 10 years.

3. Money Maker Group –

By using this forum you can learn more in depth marketing techniques over here. It has many members who can listen to your voice as well as become your clients too. It has lots of action takers and opportunity seekers.

This forum has more than 262,000 members and it ranked 5482 in the Alexa Rank. This site is 10 years old and has 52 domain authority.

4. Better Networker –

It is a social network community for home based business professional. This site was used by the top MLM Business Marketers. This forum is consist of network marketing people. This site offers some premium services to get well trained in the mlm business.

5. Why Do Work –

It is one of the best community for the business minded people in mlm. It has more than 400,000 registered members and you can drive insane amount of traffic from this community.

If you are new to MLM Business and you dont know about its basics or if you want some history about MLM then go here : http://ventaforce.tumblr.com/post/141243100742/integration-of-mlm-marketing-software-with

Use of Social Media in Network Marketing

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Today, the new platform where you can connect with your friends, share your likes and dislikes, endorse your views and even products is the “social media”. It is the most happening thing to have hit the web, but are these networks big enough to use in network marketing?  The largest social networks based on active monthly users are Facebook, YouTube, Google, Twitter, LinkedIn and Pinterest with 200 million active monthly users each. That is a huge volume of social network happening, so do you think you can use it for your network marketing?

Social media is the one place where you can build lasting relationships and trust for your target market, but most importantly, you should remember that it is not a market place where you can sell things. Social media networking had been created specifically for people to meet, reconnect with old friends, and catch up with classmates, and you can use all these connections to further your network marketing business. However, as with all businesses you need to be smart, in order to tactfully convert these connections into your clients.

Here is how you can go about doing it:

Firstly you need to select your target niche, connect with people, talking and commenting on the issues and the issues that your product may help resolve. You need to provide informative and quality content, which would help your target audience address their problems, and then you can lead them to a place where they can subscribe to your list, but keep the supply of good content constant.

Stating a few examples;

On Facebook, LinkedIn and other social media sites, you can search for your target groups and join them; you can make friends with all the members of the group, as mainly they would be like-minded people. Join in the discussions that take place on the various issues, it would be more of a learning and sharing experience as you can learn and share the expertise with other members.

You could also start your own group and invite like-minded people to join it. You can also use the twitter search to find people.

Providing quality content is the most essential thing required to build lasting relationships, but do not forget to add a link at the end of your article to lead people for more information to you.

Meeting and Connecting with people is the most important aspect of network marketing and what better place to do so than on social media!

Internet And Network Marketing, Can They Blend?

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In Network Marketing today, you receive a glossy distributor’s handbook, there is the company website as well a specific distributor page. Earlier, the blending of the internet with network marketing was considered more of an oil and water mix; however, it is a very different mix today.

The antiquated tactics of harassing friends and family, approaching uninterested strangers, and distributing flyers, business cards and brochures will not do much for you in today’s internet world.

The advent of social media has made the internet a perfect platform for network marketers to exchange their views and ideas, along with information that can allow a relationship to thrive.
Now, you need not be a computer expert, even an average person with limited computer skills can give value, exchange information and ideas, share videos, articles, and have the opportunity to reach out to more number of people at practically no cost.

With so much power at your fingertips and with the free flowing exchange of ideas and views, the internet is now become a hot bed for network marketers to attract interested prospects to them.

Network Marketing is a business involving people, even though the email is a great way to communicate, it does not provide the same quality of interaction you can get by talking on the phone, however the email works as an advantage, for when you want to call prospects in different countries.

The internet is also perfect for lead generation in network marketing. You now have a huge database of information where you can capture names and email addresses.

Social Media on the internet has become the perfect platform to make new friends, advertise your products as well as recommend products

Connecting with people is the base on which network marketing functions, when combined with the internet it works as a perfect marriage, between two well-matched aspects and can only work in your favor. However while using the internet you need not forget even the conventional methods, it is up to you how best you maintain a balance between them to your advantage.