About MLM & its Software
MLM is formally known as multi-level marketing. It is a type of marketing structure or direct sales. Here most of the companies don’t prefer for advertisements where they promote their product or service through word of mouth .For advertising we need large sum of money which in turn increases the cost of the product but there will be no change in quality. Because of this MLM Industries many people turned out be millionaire’s in this world. They are also called in the names of Pyramid selling or network marketing or referral marketing.
In multi level marketing, each representative’s should have skill to recruit and train other representatives to start their own business and get a commission on their representatives sales.
Income earned in MLM comes from the commission earned on personal sales, likewise as a share of the sales earned by different representatives recruited by you.
We can sort out good MLM by following some criteria on basis of which MLM we choose
- By checking background or profile of the Company, should have past 10 years track records within the market.
- Company should have distributor’s friendly plans i.e. Company friendly and Upline friendly.
- The product provided by the company should be Fast movable consumer goods (FMCG) category and also it should be unique.
- Should not have any joining fee, renewal fee and kit system in the company. Company policy should contain no relegation and no pass-ups
- People who are working there or want to start new business for them company should provide free training.
- If that company is active in other countries it would be an added advantages.
Different kinds of MLM plan concepts introduced in the MLM business industry .Some of MLM plans are mentioned below:
Binary MLM Plan- A Binary plan is a Two Legged (Left leg, Right Leg) structure used in Multi Level Marketing where every new distributors or members are placed in either left or right subtree. One leg is known as power leg and another one as profit leg. It is considered as one of the simple method in MLM Plan
Matrix MLM Plan-It is also called as forced matrix plan. Members who are structured in a particular width and depth are rewarded when they achieve a set level. These companies are similar to pyramid structure.
Unilevel MLM Plan-Allows you to sponsor only one line of distributors, therefore everybody you sponsor is on your forehead. There’s no width limit on this plan and also the commissions typically paid out at a specified level depth. It is a simplest plan in MLM industry to understand and explain the concept.
Board MLM Plan-One of Popular MLM plan is where customers or promoters work in group where fixed numbers of promoters or customers works in group are called board. When a board is filled with fixed number of group, they are spilted into sub group.
Generation plan- this plan is based on sales of the product and services. In this, promoters are given some target to sale the product or services.
Working of MLM Plan
MLM works mostly by using distributors to sell and promote or advertise the products. Distributors discover others to work on their team, they earn remaining income from others people’s sales
In MLM working ,sales representatives is one of the most basic level. It is their job to sell a product or service. This is the first stage of MLM Company. Based on company structure a distributor will get amount of money. Their payments and commission depends upon company policies.
When someone joins an MLM program, they have to hire someone else and educate them about MLM working and how to look for their own customers and distributors.
It will be continuing till the initial distributor has reached their ideal financial level.
To Tell in simple words, you become a customer and bring more customers to get paid. Different companies have different compensation methods like Matrix plan, Binary plan, unilevel plan and hybrid plan.
MLM Software
MLM software provides software among the MLM companies, MLM business individuals, network marketers and all other members who want to start their MLM business.
This product is available with best variety of features
• Payment Processing is automatic
• E-Commerce Integration
• Support Systems
• Web & Mobile Based
• E-Pin & E-Wallet
• CMS website design.
• Can customize the Compensation level
• Reward and bonuses integration
• Auto splitting
…..And many more. Different MLM Plan as different features.
Purpose of MLM Company is to build leadership and it leads to financial freedom.