“Spreading the light & booming up easiness”, CMO and co-founder of Epixel MLM Software, programmer, direct sales plan consultant, crypto investment advisor, e-commerce enthusiast.
Provides complete customized solutions for direct selling and network marketing businesses. https://www.epixelmlmsoftware.com/
Having been in the direct selling and network marketing business for over a decade, I think that a successful network marketing business is built when strategic planning, effective communication, continuous learning, and consistent effort are put together. Moreover, the first and foremost thing to do is to set clear-cut goals whether short-term or long-term which includes objectives that would aid personal development, team building, and has a straight financial intent that helps keep individuals focused and engaged at the same time.
The next important aspect is to build your own network by connecting with people across your channel whether offline or online. One could leverage the potential of networking events, make use of social media platforms and from one’s own personal contacts to have a team that is supportive and encouraging at the same time. At all this, one fundamental aspect is to choose the right brand that offers products and services with value and morale. Ensure that the company is transparent, fair and equitable in terms of its compensation plans, leadership and operations.
At any given point in time, for any business, customer-centricity holds prime positions. Hence, prioritize delivering outstanding customer service for your customers, devise a feedback mechanism, be open to criticisms and concerns, and most importantly address them promptly.
Like they say, there is a rise to a fall. The business sector is quite challenging, and the outcome need not always be a success. However, it is important to stay focused, positive, and consistent with what you are doing. These strategies shall be used as a blueprint to structure a successful network marketing business.
For further insights and tips on network marketing success, consider exploring this insightful blog (https://www.epixelmlmsoftware.com/blog/network-marketing-success-tips). It offers valuable guidance to help structure a successful network marketing business.
After going through your questions, I feel Epixel MLM Affiliate Management Plugin (https://www.epixelmlmsoftware.com/affiliate-mlm-plugin) might be a better option for you. Here’s why.
MLM Affiliate management plugin can manage your entire affiliate network, commission payments with customizable compensation plans that align with your goals. Features such as affiliate sales tracking and automation tools help streamline your operations.
Genealogy tree helps you visualize your entire network in one single tree view with basic details of all your affiliates. It can also equip your affiliates with a replicated website which is an individual website which can be leveraged for product promotions.
About your concern on commission percentages for different product types and categories, with an MLM affiliate management plugin you can seamlessly customize and manage commissions for different products and affiliates.
Also, the MLM Affiliate Management Plugin supports all popular open source platforms including WP Shopify, WooCommerce, OpenCart, etc. Social media integration available in the plugin can help you streamline your reward efforts on the platforms into your affiliate MLM system.
Additionally, You can integrate any compensation plan at any point to adapt to the changing business needs.
Pairing bonus in a binary MLM plan is calculated based on distributor sales volume. Distributors receive pairing bonus on achieving balanced sales volume on each leg. This again depends on the compensation plan and payout structure of various MLM companies. Most MLM companies consider weaker leg sales volume to calculate pairing bonus for its distributors. Companies may also choose to pay commissions based on sales or pairing ratios. The common pairing or sales ratio in the binary MLM plan are
1:2 or 2:1
3:2 or 2:3
I think demonstrating this with an example can help you understand the concept better.
Consider a binary network that has accumulated 1100 sales volume on the left leg and 1111 sales volume on the right leg. Let us also consider that the company has adopted a pairing bonus that is set to a 1:1 ratio with a commission percentage of 10% for every 100 sales volume and the payout cycle set on a monthly basis,
The distributor will receive 11*10=$110 as commission as there are eleven 100 sales volume pairs in the left leg. The remaining 11 sales volume is added to the right leg and carried forward to the next binary payout cycle.
In the instant pairing binary payout cycle, pairing bonus will be paid out once both the binary legs complete the 1:1 bonus ratio that is 100 sales volume in the right and left leg.
Hope this helps. If you need to know more about the binary MLM plan, its commissions and bonuses, this article (https://www.epixelmlmsoftware.com/binary-mlm-compensation-plan) might help.
Multilevel marketing, also known as MLM or network marketing, operates as a business model where independent distributors or salespeople generate income by selling products or services directly to customers and also recruiting new members to form a sales network.
Network marketing follows a hierarchical structure involving uplines and downlines (https://www.epixelmlmsoftware.com/blog/upline-and-downline). Here, the upline or sponsor refers to the individual who introduces a new member into the network. On the other hand, a downline refers to the network of distributors that have been recruited by an existing distributor into the MLM company. Within this system, the upline earns a percentage of the sales generated by their downlines, fostering an interconnected network of individuals driving sales and team building efforts.
MLM businesses operate by employing MLM plans (https://www.epixelmlmsoftware.com/blog/types-of-mlm-compensation-plans) that encompass different compensation structures, spanning binary, unilevel, matrix, board, monoline, generation, and their hybrid adaptations. The choice of a plan may vary based on the company’s profit expectations and the sector of its establishment. Failure to monitor this plan adequately and a lack of analytical business practices could potentially result in the formation of a pyramid scheme.
In this context, MLM businesses must ensure transparency in their compensation plans, provide adequate training and support to distributors on making earning claims, and adhere to legal and compliance guidelines. By prioritizing ethical conduct, MLM businesses can build a positive reputation and contribute to the building of a sustainable business model.
MLM also taps into the inherent power of word-of-mouth marketing, leveraging the authenticity and trust that individuals have in their personal networks. By empowering individuals to become brand advocates, MLM offers a unique blend of flexibility, scalability, and residual income potential. Within this structure, individuals are empowered to pursue entrepreneurial opportunities while working at their own pace and space.
WordPress MLM plugin features like commission management, distributor network management, payout management, compensation plan management and automation of marketing activities such as lead generation, sales prospecting, and customer relationship management will help you integrate and manage a resourceful MLM network in your business. It can seamlessly integrate ecommerce and MLM elements into your business if that is what you’re looking for. But, first analyze your business requirements and look for plugins that offer customization of MLM features.
WordPress MLM plugin from Epixel (https://www.epixelmlmsoftware.com/wordpress-mlm-plugin), a direct selling technology company, can help you streamline your business with MLM features. It has advanced features such as prospecting tools, commission management system, distributor training module, promotional tools, and an efficient compliance management system. New age features such as gamification, personalized training and interactions, and customer support modules are integrated to help MLM businesses gain a competitive edge in the rapidly evolving global marketplace.
The WordPress MLM plugin also includes industry-standard security features that secures customer, distributor, and organizational data and allows all third-party integrations for businesses to operate seamlessly. The plugin supports all MLM compensation plans and commission structures to accommodate changing business requirements.
Most WordPress MLM plugins offer businesses support to manage their wide distributor networks with exceptional features to engage, entertain, and encourage distributors to be more productive. From onboarding new distributors to retaining existing customers, an MLM plugin has all the features that a standard MLM software can offer.
Multi-level marketing is a direct selling marketing model with a very good potential to expand businesses. It offers entrepreneurial and substantial income opportunities for individuals irrespective of age or qualifications. The MLM industry has also seen numerous individual and corporate success stories that stand as a testimony to the potential of the industry.
A detailed analysis of launching and managing an MLM business is well outlined in this blog article (https://www.epixelmlmsoftware.com/blog/how-start-your-own-mlm-business-and-guideline-follow).
Choosing a reliable MLM software provider can also help you in streamlining your business operations. It can simplify complex MLM processes such as lead generation, commission management, distributor management, customer acquisition, and retention thus making your task of managing the business easier.
Unethical businesses exploit the model to trap individuals for financial gains. This has cast a shadow on the business model putting it under the constant scrutiny of regulatory authorities. Industry bodies such as direct selling associations and the Direct Selling Self-Regulatory Council regulate businesses and individuals toward maintaining ethical business practices. Hence while thinking of launching a new business in the industry, it is important to make sure your business aligns with industry-standard compliance and legal regulations. You must also focus on upholding customer satisfaction and implement effective strategies and tools to foster a positive and productive business environment.
To be unique in e-commerce business, one has to stand out from the competitors by offering unparalleled features and services. You need to ensure that you cater to your customers' needs and demands so that they keep coming back. Make the shopping experience as convenient as possible and it can greatly increase traffic and sales.
Ecommerce platforms can be developed by integrating several innovative features. These features are built in such a way that they add a great boost to your traffic and sales thus bringing in more revenue.
Read more on such features that can be integrated into an e-commerce platform at https://www.epixelmlmsoftware.com/ecommerce-shopping-cart-software
Implementing techniques to optimize your business for mobile platforms, a neat and clean dashboard that can be personalized as per user interests, intelligent analytics that can help to strategize new schemes to attract more customers, dedicated standalone payout system capable of performing mass payments simultaneously are some must-have features on your online shopping platform.
You can ensure the engagement of different users in online businesses such as admin, vendors, and customers by offering role-based profiles to meet their every requirement.
Several platforms also offer multi-vendor systems that help them to build their own shopping site and brand, merge or migrate different businesses, etc. Such features are a great way to make sure your e-commerce platform remains unique and innovative.
The key element of bitcoin that makes it widely accepted is its decentralized nature which means that it is not regulated by any central authority. This gives users more control over their money without having to worry about any intermediary like a bank or government that keeps track of the transactions.
Another reason for it being better is its lower transaction fees. Due to this, cryptocurrencies especially bitcoins are chosen as a popular means for sending money across borders. Fiat currencies carry along several transactional fees which make the whole process a lot more expensive.
Economic recessions have bought attention to many insufficiencies associated with fiat money. This is another reason why bitcoins are gaining momentum in their adoption. They are also helpful towards achieving a cashless society which is why many are promoting it.
Privacy is another basis for the popularity of the bitcoin, as users do not have to share any personal details to perform payments and transactions. Several altcoins have been developed whose main feature is to offer utmost privacy to its users.
Unlike fiat currencies, which take longer time to complete transactions, crypto payments are quick. Meaning they involve quick settlements with shorter duration.
You can read more about bitcoin at https://www.epixelmlmsoftware.com/blog/bitcoin-beginners-guide
Airdrop is the free distribution of crypto coins or tokens to the wallets of users. It may be done to increase the awareness of the company and its coin. Or as a reward to users or subscribers. Or to maintain the stability of the coin. The benefit is it ensures coins are evenly distributed and truly decentralized.
It may also be a fundraising process. Airdropping for this purpose can raise the market value of the coin without even selling a single coin.
It is actually free money being distributed but in the long run, it brings many more benefits to the company.
This feature is nowadays integrated by many cryptocurrency platforms developers along with other features such as multi-wallet, etc.
You can read about more such features offered in a crypt exchange at
Anybody can get involved in airdrop if they confirm the following, a cryptocurrency wallet, base tokens, and obviously, access to information.
A business model that can help you achieve more than 50k per month is network marketing, if you work hard enough.
Here is the monthly profits made by the top five earners in this field,
Igor Alberts & Andreea Cimbala - $ 2,200,000
Jenna Zwagil - $ 1,060,000
Trin & Jirawan Vichaidith - $ 940,000
Rolf Kipp - $ 900,000
Ivan and Monika Tapia - $ 860,000
( source: businessforhome.org )
This field offers plenty of opportunities but competition is high. Its basis is building networks of people who buy and sell products. So if you make use of the online platform wisely it can guarantee you tremendous opportunities. It offers you great freedom of location and time. There is no 9 to 5 schedule to follow. You can choose when to work and how often and for what duration. Maintenance costs are low. Thus the benefits are boundless.
Automation is the new key to ensure success. Many software are available for successfully running your network marketing business. Check out more here,