How often do you hear about many businesses suffering money loss? Many jobs out of the place? and the salary compromises people need to make just to get a job? So many fluctuations become hard to get over at times, leaving you blank. Everyone wants a passive income to continue their living through some or other part-time opportunities even if they don’t have a job in hand.
One of the best part-time earning opportunities today is the MLM network business model that can be transformed into a full-time recurring income resource with regular efforts and time. MLM or Multi Level Marketing also referred to as Multi-Level-Marketing is a business model that runs through the network wherein you can also rely on referral and direct selling.
Unlike traditional and conventional home-based business opportunities, MLM always has room for more people. In such a model, the network keeps growing stronger and bigger with people from different areas.
MLM is commonly referred to as “Word of Mouth” marketing wherein you can involve people in your business using the impactful words and your convincing power. MLM business model looks like a pyramid, having more and more members in the downline.
Let’s start from the beginning- MLM had a very disputed origin back then in 1886. It was first established and promoted by the brand Avon. By the year 1990, they noticed a growth of 25% in the members of the Direct Selling Association (DSA) using the MLM business model. And within 9 years, it jumped to 77.3% in 1999, and by 94.2% in 2009.
Many MLM-based companies are reputed and top-ranking such as Tupperware, Kirby, Electrolux, and Avon, which were originally direct-selling business model companies. Later, they upgraded to the multi-level marketing business model and became MLM.
Now, more than 1000 firms are associated with the network marketing business model in the United States alone.
Growth expectation with MLM Business in 2020: More than 100 countries are expected to adopt MLM business models since it is the most profitable and is not resource intensive. MLM industry has already marked a total value of 167 billion by now, which is expected to grow up to INR 645 billion by 2025.
With a quick look at the statistics of the MLM business model mentioned above, one can conclude that the network marketing business model is rapidly growing. This industry is yet to mark a remarkable growth once it will join hands with the technology.
There are many MLM software development companies including Volochain that design customized MLM solutions for the simplified, streamlined and standardized processes for the direct selling companies.
Most of the next-generation MLM software is intended to serve all the functions in an MLM company or network marketing business. You can leverage fast and accurate processes – be it inventory management, distribution, customer management, marketing, promotions, and lead generation.
In addition to all this, the MLM software comes with the advanced commission and compensation tracking tool, offers support for the referral process, and leverages many advanced features to support MLM plans and strategies. Therefore, the entire process of conducting and managing MLM businesses becomes smooth and efficient
Make sure you choose the best MLM software development company to make maximum profits from your networking business.
Conclusion
As we all can see from the statistics that the MLM business model has a great potential to grow in the upcoming years. It is not at a global pace, but for India as well. If you are going to start an MLM business, be sure to make use of the best MLM software to downsize the efforts and maximize the revenue.
On a serious note, you should not underestimate the growth of the networking business in 2020.
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