Multilevel Marketing is a strategy used by the direct sales companies to expand their business networks and relationships. It mostly depends on the distributors for the expansion of business. It is one of the fastest methods of expanding a business and is one of the most important facets in network business.
The basic idea of Multilevel Marketing is to expand the business by creating good business networks. It works in a branched format, starting from a principal level to wherever it can reach. Deeper the network better the outcomes. More the people involved in the chain, better the advertisement possible. This branch format of the multilevel marketing makes it very convenient to follow.
Now a days, there are Multilevel Marketing Software to make the tasks easier. These have eliminated all the difficult manual tasks and replaced them with computerized tasks. Multilevel Marketing Software has made multilevel marketing easier with perfect analysis reports, sales and investment calculations and much more.
Desirable features in a Multilevel Marketing Software:
With evolution of technology, certain features are now possible to be integrated in MLM software to make them highly efficient.
Here are some of the most desirable features: –
1. Multi-currency support
2. Support for multiple languages for global appeal
3. Support for multiple vendors by allowing them to come on a single platform
4. Provision for personalized replicated website for users
5. Seamless management of local and international tax liabilities.
6. Provide accurate and up to date information on commission payouts
7. Responsive software and website
8. Support for multiple payment modes including credit card, net banking, e-wallet etc.
9. Scalable architecture that is flexible according to the requirements
10. Integrated payment gateways
11. Superior security features
Different types of MLM Plans
1. Binary Plan: – Highly popular in Asia and works on binary tree structure. An individual must introduce two directs to make money. One can get more than two members on board as well.
2. Matrix Plan: – Highly popular in Africa. There are two types of matrix plans Forced matrix and Auto Matrix. In auto matrix plan the new recruit will automatically be placed in the space whereas Forced matrix allows members to choose their place.
3. Board Plan: – This plan is used in European market. There are two types of boards i.e. Feeder Board and Main Board. Initially the member enters feeder board and when it gets filled the board is split into two with the best member making the top member of the new main board.
4. Generation Plan: – One of the most popular and straightforward plans. The new recruit is placed directly below the member.
5. Hybrid Plan: – Is a combination of two different plans which the company can choose in order to maximize the revenues.
6. Differential Plan: – This plan is highly popular in the US market. Commission distribution between the upline and downline is based on the difference in commission earned by the upline and distributed in the downline.
There are expert MLM software that can help you with the management of the MLM plan efficiently and allow to leverage all the benefits.