Multilevel Marketing is one of the biggest sources of passive income in today’s business era. MLM marketing software solutions are a boon for direct sale companies & distributors throughout the sales & marketing process. However, finalizing the perfect MLM software for your business can be a tedious process. The excerpt introduces you to 5 key elements that aid you to choose the best MLM software for your Business in 2021.
Their will be a lot of questions in your mind like “How To Choose Best MLM Software for Your Business? What are the things to consider while choosing an MLM software for business solution? Right.
So, Before discussing the key elements, let’s list down the top reasons why we need MLM software in the first place. This helps to define your strategies as per your investment plan.
· Track companies growth in real-time
· Idea of the right business plan
· Seamless computations of commissionable actions
· Creates reliable affiliates
· Effective management of Online promotion
· Effective collaboration & Communication Techniques
· Capable of sustaining more than 10 million records.
· 7 level security methodology which ensures data security.
· With Multicurrency, multilingual to make your business reach to grab an international level.
· Scalability Feature which makes it apt for a Startup
· Fast pay-out calculation
· Easy to integrate like ecommerce integration, payment gateway integration, e-Pin & e-Wallet etc.
Customization – Feature-rich suite
Feature-rich MLM software is the backbone of the entire marketing operations. Providing the ease of solutions, alongside keeping the critical details is essential to connect with network marketers. Since every vendor has its unique features, integrating them into the MLM software is a must.
Right from security to a simple yet robust dashboard, a customized suite is a must in MLM software. Some of the features of efficient MLM software are listed below:
· Email, e-wallet & sms login
· Social login
· Dashboard
· Two-factor authentication
· Geo location
· Custom regions
· Cloud sync
· Secured payment gateway
Also Read: Trustworthy & Highly Secured Direct Selling Software
Plan check and language assistance solutions
Knowing the product is one of the best ways you can minimize expenditure on the software. Paying for added features that don’t help you in your business at extravagant prices is a big NO! Select the quote based on your requirement that suits the business.
If your business is across PAN-India or even crossing the shores, having multi-lingual support becomes a key to success. A Multi-Lingual MLM Software makes it accessible for anyone regardless of linguistic issues. Relying on Google or Bing translations might is not a feasible idea for a business in the long run. An advanced-multi language system is one of the ways to grow your business across the globe!
Integrating Cloud Services
From reliability to scalability and minimal IT costs, the benefits of a cloud-based system are endless. It is an effective solution that enables you to focus on your business while your IT partner backs up with the latest cloud-based technologies. Always look for cloud MLM software that is bundled with core modules to provide various e-commerce solutions.
Cloud MLM software offers a seamless system for managing MLM business with absolute ease. The cloud network is best suited for network marketing companies who need high-quality service to manage the MLM business online.
Business Intelligence
Business Intelligence (BI) is another tool that effectively gathers various data and shows real-time information. Getting a quick overview of the whole business component in a visually appealing model in a single space is immensely helpful.
Collating the historical & predictive data, the BI application offers business insights that help in the right decision making.
Having a role in MLM software, BI application makes the dashboard quite promising! Converting the manual data in a measurable format helps in setting proper KPI’s. Collating the benchmark KPIs & conveying crucial data defines the business trends either from the product or the distributor’s side.
Multi-Currency
With the growing network business crossing the boundaries, the need to convert profits into local denominations is much needed. An integral part of any MLM software, this feature maximizes your purchase & boosts your financial power. Designed to accommodate global conversion of currencies, it helps to figure out the actual P/L depending upon the exchange rates. Few highlights of this tool:
· Easy calculations in local currencies
· Ease to convert foreign to domestic money
· Can depict the conversion rate in the international market
· Feature is embedded in the app
· Transaction in preferred currencies is appreciated by clients
This integration with the app assists in comprehensive purchasing and performing seamless sales & accounting functions.
Supports Different Compensation Plans
In today’s competitive market, no company would like to have a single constant plan. As the payment modes & commission differ from one MLM business to another, different compensation plans are always helpful. The idea of an MLM compensation plan is to align with the company it serves. For every multi-level marketing business, advanced compensation models support your business in critical decisions.
With a plethora of compensation models deciding the right model that complements your business is a decisive factor. The ideal app will integrate the distinctive features & product-specific characteristics with an extensive library of compensation plan options.
Rich Data Repository
One of the biggest USP of MLM software is its capability to manage huge data & live records. In the direct selling market, data plays a pivotal role in the success of the company. Therefore, having robust & responsive software that can securely hold the maximum data is the key.
Some of the world’s best MLM software development companies are capable to store upto 10+ million records without any hassle. In MLM business, the competence of managing records is a factor that can decide the fate of software.
Data security
Data security is the essence of every company. Since business activities via MLM software involve a bounty of activities like commission plans, payments, distributors, security is mandatory. As these data are prone to fraudulent activities, storing them in encrypted format is the most ideal way. Below are the 7 levels of fundamental security measures that every MLM software must include:
· Captcha @ login
· IP Blocking & Tracking
· Encrypted Connection Strings
· Encrypted Passwords at all levels
· SQL Injection Prevention
· Input Sanitization
· Triple-DES Encryption of e-pin
Security settings ease in managing the access of users depending as per their roles and also restrict unwanted access.
Budget
The last, but the most decisive criterion is to manage the budget for the entire project. This budget includes the buying cost & the costs needed to update and maintain the software. Finding the right combination of customizability, features & cost is the most difficult part wherein many companies fall apart. Having responsive software goes a long way in helping cross-functional team members of your company in a hassle-free way.
The cost of MLM software in the market can make you touch the horizon. So asking for quotations as per your specific needs is the way you find your affordable yet effective MLM software.
Finding some of the best popular and renowned software providers in the MLM industry with the latest features is a time-consuming affair. However, knowing to choose the best MLM software for your Business in 2021 is the only way to scale your business to new heights.
