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Sajin Rajan
posted a blog.
March 22, 2023
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Direct selling companies compensate their distributors in many ways for their hard work. Bonuses, commissions, and incentives are some of the most common methods companies utilize. Each one has unique characteristics apart from giving monetary benefits to distributors.
Bonus
Bonuses are given for various reasons such as meeting targets, showing extraordinary performance, etc. There are many types of bonuses direct selling companies employ. It will be a one-time payment and is associated with individual performance rather than teams'.
Commissions
Commissions are usually a percentage of sales made by the distributor. It can vary according to the direct selling company distributor is working for. It will be a fixed amount which will be outlined in the distributor agreement. The commission serves as a motivating factor for distributors to sell more as it is linked to the number of sales done.
Incentives
Beyond commission and bonuses, companies compensate distributors with incentives. Incentives are awarded for specific reasons set by the company. It can be any reason such as achieving higher sales, acquiring more customers, completing training, etc. Examples of incentives include discounts, offers, coupons, goodies, and rewards, which can motivate individuals to perform better. Unlike commissions, incentives are not tied to sales or goals.
Direct selling companies can motivate their distributors with the help of these compensations. Implementing these strategies will make sure that the distributors are performing at their best. Giving unique compensation will allow companies to retain their top-performing distributors and maintain a competitive edge in the industry. However, companies need to take the utmost care in developing these commissions to meet the goals of their salesforce and the company itself.
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Sajin Rajan
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Automation has become an important factor in today's business landscape. It allows businesses to improve efficiency and reduce costs. Automating business processes enable organizations to stay competitive in the ever-evolving market. Additionally, automation helps organizations to make data-driven decisions, and improve accuracy while freeing up manual resources. Direct selling organizations are also turning towards automation as it allows distributors to focus more on customer relationships by automating routine activities.
Automation can help direct selling companies in marketing in several ways. https://www.epixelmlmsoftware.com/blog/automation-replacing-human-essence
1. Generating High-Quality Leads: A wider range of audience can be reached with the help of automation tools. This helps in generating more quality leads who have an interest in your products or services.
2. Running and Managing Ads and Campaigns: Tasks such as ad scheduling and targeting can be automated to help streamline marketing campaigns.
3. Generating Insights for Smarter Decisions: Automation tools can track and analyze large volumes of data. These data can be used to generate valuable insights into the audience's behavior, preferences, and interests.https://en.wikipedia.org/wiki/Consumer_behaviour
4. Analyzing Traffic and Behavior: Automation helps in identifying patterns and trends in website user behavior. Businesses can optimize their website according to the patterns for maximum engagement and conversions.
5. Creating Customer Segments: Segmentation of the audience can be easily done through automation tools. Customers can be segmented according to various criteria such as demographics, behavior, and interests. This can help in tailoring marketing to specific customer groups, improving the effectiveness of your campaigns.https://www.businessnewsdaily.com/15973-what-is-customer-segmentation.html
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Sajin Rajan
posted a blog.
October 12, 2022
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The customer-centric strategy is the new word in the business world that has been influencing a lot of businesses. With this, we will talk about how the direct sales industry is implementing it and why being a customer-centric model since the beginning makes them perfect to implement it with ease. It was also because of the pandemic that started that direct sales companies realized they were missing out on customers by not focusing on them and their needs and desires as much as they should have. So what do these businesses do? The solution for this itself is placing your customers first and this has resulted in being the top most customer-centric direct selling companies in the industry.
There are many Direct Selling companies around the world, but only a few of them understand and focus on their customers. This is what sets these companies apart from others in this industry. These companies have not just survived, they have thrived through all challenges that came their way because they care for their customers.
Direct Selling News, a platform that is well known for publishing insightful and informative content about the direct selling industry launched its Customer-Centric Recognition program to highlight companies who follow customer-centric principles. This was in addition to their mandatory effort to make all companies aware of the importance of being customer centric. The recognition program awards Gold and Platinum status holders in accordance with a ratio of customers to distributors.
This list includes the top companies in the Gold and Platinum categories as per DSN CCR standards.
Platinum Status Companies
ACN
bHIP Global
It Works! Global
Le-Vel
Nu Skin(
Pruvit
Scentsy
Usborne Books
Gold Status Companies
Perfectly Posh
Monat
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Sajin Rajan
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Data breaches are expensive, and with the rise in data breaches, direct sales companies need to invest more time on cybersecurity. With so much personal information at stake when it comes to direct selling companies, it's important for these businesses to be prepared for any breach or hack attack. The industry should adopt innovative cybersecurity measures to protect direct sales companies them from threats such as malware attack, ransomware attack, etc.
The report "State of Cybersecurity Resilience 2021" predicts that the cost of data breaches is expected to reach $5 trillion by 2024.
Cybersecurity is a growing concern for businesses of all sizes, especially those in the legal, insurance, retail, financial and healthcare sectors. In fact, 43% of cyberattacks target small businesses. One out of five companies experience cybersecurity incidents annually. This statistic only tells part of the story; there are many other challenges that can arise when you fail to prepare your business with a comprehensive cybersecurity plan tailored specifically to your needs.
With the evolution of technology, businesses are no longer constrained to one location. With a need for increased flexibility and reduced cost, many network marketing organizations have embraced remote work environments. But with this comes an increased rate of risk associated with it. Distributors access your system from locations unknown, and that increases your chances of being exposed to cyberattacks. The solution is to educate your distributors on how they can identify potential threats, while not discouraging them from utilizing remote work environments when necessary.
Cyber insurance is a must for direct sales businesses to keep them safe from data breaches. Data breach can be an expensive affair for the company and also for their customers, especially if the information being breached includes personal information such as social security numbers or credit card details. Direct selling industry need to take some precautions in order to avoid cyber extortion that might threaten its reputation or damage its bottom line.
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Sajin Rajan
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MLM health supplement companies are more popular than ever. With the emergence of pandemic, there has been a greater demand for these supplements in all categories and ranges. In fact, network marketing wellness supplements companies have introduced umpteen options and categories to help people up and going each day.
There are a lot of ways to find out about different health supplement companies, but many people don't realize that they can just search for them on the internet. Direct sales companies have been around since 1920s, when some notable companies began selling their products by word-of-mouth and through direct marketing in homes.
The health and wellness market is at an all-time high. With the rise of new healthcare technologies, medical breakthroughs, and global travel to regions with better health care systems, people are constantly striving for a healthier lifestyle. A recent research by statista predicts that by 2025 the global health and wellness market size will exceed $6 trillion in revenue.
Direct sales health supplement companies are increasing in popularity as more people turn to social media influencers for advice on what they should buy. Many people in the world today are so caught up with their busy schedules that they have little time to focus on their health. With direct sales health supplement companies, consumers now have an easy way to purchase items without having to go through a middleman or waiting for stores and pharmacies to carry them. There is also a wide array of products available which target various ailments and needs of different people, such as fitness trackers, weight loss supplements, beauty products and more.
Lets check the list of top health and wellness direct sales companies based on the top 100 MLM companies in the world.
Pruvit- Growth rate - 65%
PM-International- Growth rate - 40%
Amway- Growth rate - 5%
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Sajin Rajan
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Lead generation campaigns and strategies aim at attracting more customers and prospects to your direct selling business, by creating interest around the product or service your company offers. An effective lead generation campaign process for direct sales involves several phases such as awareness, collecting and analyzing data, reaching out to potential leads, nurturing the captured leads, and more. These stages may be varied as per the needs of the business depending on their audience, market and industry.
Publishing personalized contents is an efficient strategy to attract and engage leads to your direct sales business. Attractive landing pages offer a great way to kickstart the first-time experience of prospects on your website. It offers a quick glimpse into what your business and brand offers. When designed rightly, these pages provide useful and relevant content and information that helps users determine whether they have to continue on that business.
Constructing an efficient lead capture funnel is essential for any business. An ideal process involves all the required marketing strategies that are split into the various stages that make up the complete funnel. Such a funnel automatically attracts leads to your sales channel. Equipping the funnel with multiple payment options, promotions, smarter shopping carts, easier checkout process, etc helps faster completion of transactions among your distributors and customers.
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Sajin Rajan
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Acquiring customers requires a lot of patience whereas, retaining them requires a lot of skill. Customer acquisition in direct selling
is a highly popular topic, as the growth of direct selling businesses is fuelled by the growth in their customer base. With the generation of the right interest, you can have as many customers as you want. But sustaining their interest is what really counts. Rather than aiming for their retention, focus on understanding your customers. Do not compromise on the quality of the products and services you deliver them. Adapt to the changing trends and expectations of customers. Understand how the customers want their goods delivered and customize your process accordingly.
Lasting relationships usually start with a lasting first impression. Give your customers a fresh brand welcome. Customers are attracted to new and unique experiences. Walk your customers through your products, guidelines, customer support, etc, with a fresh perspective.
Hyper-personalize the customers’ experience. Personalization makes customers feel more comfortable and at ease. With the help of demographics and psychographics, understand the customer's behavior and interests to personalize your business approach. This provides an accurate data-driven experience. Establish one-on-one relationships with your customers to know their needs and preferences, and with contextualized conversations and individualized offers, exceed their expectations.
Engage your customers with the timely delivery of offers, promotions, and product news via calls, emails, messages, social media, mobile app, online campaigns, etc. Connect with your customers and let them feel the warmth of your direct selling business. Make use of all available channels to introduce them to new and attractive promotions and offers, exciting customized reward programs, live events, etc.
There is no limit to how you can treat your customers in the best way. Find the right approach and spread that culture throughout your organization for lasting customer relationships.
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Sajin Rajan
posted a blog.
July 24, 2022
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The pandemic era has changed everything in people’s lives and in the direct selling industry. The lifestyles, work, and also attitudes of Americans toward direct selling have gone for a complete toss. However, the necessity to work remains the same but priorities and convenience factors have altered by age groups and generations.
The pandemic era was also the era of great resignation where millions across the globe walked in and out of various jobs. According to the Goldman Sachs report, 70% of the five million people who had quit their job during the pandemic period were baby boomers. This was followed by companies recruiting young workers and these baby boomers opting out for early retirement.
With a passion to begin new businesses and entrepreneurial dreams, many millennials and generation Zers also seem to be walking out of their jobs in large numbers but with an intention to rejoin the work sooner or later. Some quit thinking of joining new places, some others rejoin again whereas many others switched careers in between. These generations would join work considering various convenient factors such as flexibility, entrepreneurship, collaboration, mentorship, social connections, better working conditions, organizational values, stress-free careers, competitive salaries, independence, and individuality. These factors define these generations with ethics and morale revolving around the same. However, the pandemic has altered the thought processes and diverted passions to newer dimensions.
Millennials and Gen Zers have more or less the same attitude while choosing a career and share the same passion and ideologies. These influence their career choosing factors too to a major extent.
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