Sajin Rajan, CEO of Epixel Solutions, a US-based Software development company has more than 10 years... View MoreSajin Rajan, CEO of Epixel Solutions, a US-based Software development company has more than 10 years of experience in the software field. He has been showing great interest in executing projects for network marketing companies with his technical talents. His technical and managerial skills were always appreciable to convert an inquiry into a business; an idea into action. His proficiency in Software development and Business management and expertise in understanding and dealing with various requirements of the clients are highly appreciated. He always brainstorms emerging technologies and how they can be integrated into real-world applications. He has unique ideas in developing blockchain-based applications, MLM Software, e-commerce web applications, etc. Integrating business intelligence in software development is currently his research concern. Identifying and applying new technologies to the products being developed is his uniqueness.
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Sajin Rajan, CEO of Epixel Solutions, a US-based Software development company has more than 10 years... View More
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Sajin Rajan
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The advent of globalization has opened the door for international business and many companies expanded their business globally. When more and more companies adopt the direct selling model for its advantages, MLM companies continue to expand their reach in the global market through online and offline stores. When laws and regulations are increased, compliance while international MLM business expansion is a crucial factor for direct selling businesses to consider.
Why is compliance important in direct selling?
The illegal and malpractices in the direct selling industry by the few companies have given dark shade to the industry. The adoption of pyramid schemes and various scam activities by a few MLM companies have led to increased regulations in the direct selling industry. Even with good business practices of many successful MLM companies have shed light on the direct selling industry. One of the factors behind the success of many MLM companies is compliance with various laws and regulations in the industry. Compliance can help build and maintain a good brand image among distributors and customers. But the failure to comply with laws can result in serious penalties such as fines, legal action, and reputational harm.
How to ensure compliance in the direct selling business
Understanding, communicating, and following various local and international laws and regulations in the direct selling industry is important to ensure compliance. But when you are looking to expand MLM business in different countries, studying the different laws and regulations in each country is difficult. A compliance-driven MLM software can help you comply with various country-specific legal and regulatory standards. It ensures compliance with core features like a global e-commerce store, taxation management, commission tracking, payout management, etc.
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Young people today play a critical part in the success of any direct selling business since they are more adept at using social media platforms than earlier generations. This can be a significant benefit for direct selling businesses, as social media is frequently used as the primary medium for promotion and communication nowadays. They can use their social media skills to create compelling content, expand their networks, and promote products and services. Also, younger individuals are more at ease with technologies and can rapidly adapt to new tools and platforms. As many organizations increasingly use digital tools and platforms today to conduct their operations and engage with customers, this can be an advantage for many direct selling businesses.
Nowadays youngsters are open to new ideas and willing to take more chances. They see the real potential in a direct selling business and are ready to put in the time and energy required to make it successful. Moreover, the younger generations always have the hunger to master new skills and start their own businesses within the scope of a direct selling model. They bring fresh ideas to the direct selling industry, which can aid in innovation and the improvement of the business. Also, they bring fresh perspectives on product development, marketing strategies, and customer engagement that can help the company remain competitive and relevant.
Youngsters have a lot of energy, creativity, and passion to make a direct selling business successful. They may assist in driving development and innovation, connecting with younger-generation customers, and bringing new viewpoints to the industry. Direct selling companies that can attract and retain young talents can position themselves for long-term success in this ever-changing business world.
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The skills and strategies that distributors use to promote and market their products to customers directly are referred to as distributor sales skills in direct selling. Effective communication, active listening, product understanding, relationship building, etc. are examples of these skills. Distributors must be able to recognize and illustrate how their products can suit the demands and preferences of their customers. They must be able to establish rapport and trust with customers, as well as address their inquiries and concerns promptly. Distributors with great sales skills can find upsell possibilities and secure the deal effectively. Let's take a look at how technical and leadership abilities might benefit a distributor in the direct selling industry.
Technical skills
Technological skills can be helpful for direct selling distributors, especially given the industry's increasing reliance on technology. Distributors with technical abilities can use internet platforms, social media, and other digital technologies to promote their products and services and thus reaching a bigger audience. They can utilize a variety of technical tools to track current sales trends and identify growth opportunities, thereby making informed decisions. Distributors with technical expertise can improve the customer experience by providing online support or suggesting personalized recommendations based on customer data, and this helps in increased sales.
Leadership skills
Leadership skills can be extremely helpful for direct selling distributors since they can help motivate and inspire the team to reach their goals. Distributors with good leadership abilities can guide and assist their teams, set clear standards, and foster a positive and productive work environment. Distributors with strong leadership abilities may also cultivate a culture of collaboration and continual development by encouraging their team to share thoughts and work together to achieve success.
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Sajin Rajan
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In the past year, the direct sales industry has faced a lot of challenges. However most of the direct sales companies have surpassed these challenges and were able to make some innovations, and breakthroughs. Let's discuss some of them.
Technological innovations such as metaverse, artificial intelligence, and augmented reality contributed in transforming the direct sales industry. Now customers can virtually try on, experience and compare the products before they buy it. Avon, a popular cosmetic company in collaboration with Perfect Corp technology, launched an augmented reality makeup experience for customers. Similarly, Mary Kay launched Mirror Me, an augmented reality makeup platform where the customer's face is analyzed to provide them with a personalized skincare routine.
With metaverse technology, eXp World Holdings has created a platform for its distributors. This advanced metaverse technological platform lets their distributors have digital copies of their physical space and also an avatar system with customization options that exactly represents the distributor. According to McKinsey's latest study, metaverse encourages customers to enhance their engagement and most Americans are ready to adapt to it.
Companies such as Herbalife Nutrition, Mary Kay, Nu Skin Enterprises, Scentsy, and Melaleuca grabbed a position in the Forbes’ 2022 list of America’s best midsize employers list.
Arbonne International was honored with Sustainability Award for the conscious corporation, by the UK Direct Selling Association in its UK DSA Conference 2022.
Amway, the top direct selling company, was honored by Frost & Sullivan for their intelligent home water treatment system. Also, Amway has started an initiative with Holzapfel Effective Microbes to support people with incurable diseases related to microbiome dysfunction.
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Sajin Rajan
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Compliance automation is an essential aspect of any organization's operations in today's business landscape. It needs constant monitoring and updating to ensure that the organization meets all applicable regulations and standards in order to protect its assets and remain compliant with legal requirements. Before, compliance management was conducted manually, but automated technologies that expedite and simplify the process are now available. Automatic compliance monitoring provides various benefits to businesses of all sizes, including higher accuracy, faster response times, increased visibility into risk factors, and cost-effective solutions.
Minimize risks
Automatic compliance automation can assist businesses in making efficient risk management decisions in real-time with up-to-date data and information. Furthermore, automation contributes to data security by identifying and correcting security flaws. Furthermore, compliance automation keeps an eye out for unusual activity that could lead to or indicate a security breach. It also generates reports that can be used to assess an organization’s data security. As a result, it can lessen the risks connected with companies.
Reduce time consumed
When compared to traditional compliance monitoring methods, automation speeds up and saves money. This enables business owners to respond rapidly to regulatory changes by offering access to real-time data and insights about their compliance position regarding new regulations or standards. Moreover, automation helps to ease the strain on employees, making them more productive.
Cost-effective
Compliance automation helps businesses in saving money by streamlining compliance-related procedures. Automation may save time, money, and relationships by consistently and automatically meeting compliance criteria. Implementing automated compliance monitoring software is far more efficient than relying on human resources to precisely carry out every operation. Noncompliance-related fines and penalties can be avoided with automation.
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Sajin Rajan
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E-learning is a successful business model that lets people learn in a hassle-free process. An LMS is an essential feature in the e-learning business that helps learners to achieve this goal. Integrating eLearning with the MLM model lets their distributors be more engaged, and that automatically drives their business growth. To enhance the engagement of distributors, an eLearning model with a robust loyalty program is implemented.
As technology progresses, entrepreneurs try to adopt the latest trends and strategies to enhance their credibility. AI-powered LMS is the latest addition that combines artificial intelligence with an LMS platform to create an entirely personalized experience for learners. Unlike traditional LMS, it recommends courses and relevant topics based on what the learner needs or wants to know. Also, incorporating loyalty programs into this model allows businesses to enhance distributor and customer engagement.
Features of AI powered LMS :
CRM with live chat functionality
A CRM designed for the eLearning industry will help streamline the sales and customer support processes. The sequenced lead management system filters out quality leads, ensuring that companies spend time only on prospects who can convert into customers. Along with that, distributors can connect with their prospects by video calling, live chat, messaging, SMS, email, etc. Also, companies can analyze and measure the performance of their distributor courses, teams, etc with a full-featured dashboard.
Automated admin console
Each of the distributors is allocated courses depending upon their role. Tasks such as enrollment, course allocation, management, etc. can be automated. The platform also uploads courses that follow legal and regulatory compliance.
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Sajin Rajan
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Emotional marketing is a marketing strategy that increases the bond between the brand and its customers by addressing and meeting the feelings and emotional requirements of their customers. It helps brands build a strong emotional attachment with them and helps in increasing customer retention and loyalty. The strong emotional attachment built captures the attention of customers and keeps them engaged, and also encourages them to recommend the brand to others.
In this era, when customer interactions have been affected by automation and technological advancements, emotional marketing has been helping direct sales businesses hold on to the human essence by incorporating empathy and emotional intelligence. Companies are offering personalized experiences that meet the needs and requirements of the customers and make them feel valued and understood. This can be accomplished by delivering customer support and services assisted by humans, encouraging feedback and reviews that are addressed personally and other strategies.
The three components of Aristotle's rhetorical triangle, logos, ethos, and pathos are key to implementing a successful marketing strategy that persuades the ability of customers to buy products. When these three factors are balanced perfectly, they can be a great asset to empower your brand emotionally.
Ethos highlights credibility and ethics to build trust and confidence by sharing product endorsements by popular personalities, customer testimonials, case studies, feedbacks and reviews.
Pathos utilizes emotions and experiences such as empathy and passion to evoke the senses, memory, nostalgia, or shared experience to appeal to the feelings and interests of customers.
Logos make use of facts or data to convince customers with logical reasoning and evidence. It cites statistics, facts, charts, and graphs to persuade users to believe that the decision they are making is right and important.
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One of the biggest challenges that e-commerce companies face today is not having an efficient platform that can upgrade with their growing customer base. This challenge can be easily overcome with an innovative shopify MLM Plugin. Along with the ecommerce platform features, integrating this plugin will accommodate direct sales features and will enhance business growth. The plugin allows promoting their business in more ways than one and generating new leads for your company's growth.
Shopify MLM Plugin lets you customize your business website with different themes and designs so that your product will stand out from competitors. The plugin ensures your operations are smooth and reliable by being able to accommodate growth as you expand your team or increase volume.
It is not an easy task to manage a website. There are many concerns that need to be taken into account, including security and customer satisfaction. One of the primary reasons for security breaches is due to hackers having easy access to customers' information. But with an MLM Plugin, the platform is highly secured with an SSL certificate and by default compliant with PCI DSS.
The Shopify MLM Plugin is a powerful plugin for your website and provides an array of marketing tools to help you develop an innovative marketing strategy. The features include learning platforms, promotional tools, digital ad banners, event schedulers, campaigns and more.
Every business, no matter how big or small, is in the customer acquisition and retention game. From retail to restaurants, customers are essential for survival. And that means doing what it takes to keep them happy, so they continue coming back. The plugin feature provides the customer with robust rewards and loyalty programs that are tailored to meet the needs of everyone. This result in a higher customer retention rate which leads to high business growth.
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