Thursday, 23 February 2017

Downline retention in your MLM

Building any business is tough, just like reaching to the top in any field is. But, what is tougher is reaching to the top and staying number one. Similarly, it is difficult to retain many sponsors after signing them on without training and interacting with them regularly.
Building an MLM business from scratch is a herculean task that involves juggling many balls at the same time. It includes developing products for your company, recruiting the right people to build the basic company functions and structure, having an appropriate MLM business plan that compensates sponsors and distributors appropriately, designing proper downline training programmes and the most important – a proactive marketing plan.

The company founders rush to sign on more distributors, get more sales in order to show some numbers which will help them raise funds from investors. This is the right trajectory for any company, but the MLM business makes a deadly mistake in the process. After signing on sponsors and in a rush to get more sponsors, they tend to neglect the support that the signed on sponsors need. Not all the sponsors and distributors who sign are expert salesmen who can deliver the sales and convert from prospects to sponsors as the company wants them to.
By not providing adequate support, these sponsors may be completely lost in the MLM world. Any individual expects a minimum support from their team or company. If not provided, they may leave the company very soon. A direct marketing business must provide the following support programs to its distributors and sponsors:
Proper induction programs: Proper induction programs are necessary for all new sponsors to get a complete understanding of all the products, services and facilities of the business. Unless they are aware of all the details that they are supposed to know, they will be on the backfoot as compared to other established sponsors of the company.
Also, as not all signed sponsors are skilled or trained in sales, having a proper induction training with a special focus on sales training will benefit the sponsor and the company immensely. Having specialists impart training to sponsors periodically will help these sponsors gain confidence and perform better and get better sales and leads.

Regular networking sessions with successful uplines: Any sponsor would like to regularly be reassured that the target set by his MLM business plan is achievable and has been achieved by many people before him. These people have gone through what he is going through by executing their MLM Binary plans and are now enjoying the fruits of their work.

They need someone to interact with who understands a MLM calculator as much as thema and has faced the challenges that they have faced while prospecting or selling products. This gives them an opportunity to interact with someone who has been there done that and can easily connect with them after the session. This upline will be like a mentor who can help them in case they are facing some trouble.

Sales training sessions: Having regular sales sessions is very important for the survival of an network marketing business. There are some people who work as sponsors of MLM companies part time. It is important for you to ensure that they have all the requisite tools and skills to be successful in the small amount of time that they work. Training them appropriately in sales and personal branding techniques will let them maximize their return on the time spent in this business.
Most direct marketing companies need MLM softwares to handle their daily work related to operating the company and managing training sessions. DNB MLM Software Solutions is an MLM software company that has been at the forefront in helping MLM businesses across the world realize their goals with ease. The company has been providing customized software solutions for over 7 years and has emerged as the chain marketing software of choice in the MLM sector.
Retaining the distributors/ sponsors by using these techniques is one thing, but not putting in enough efforts to make this a success will result in disillusioned sponsors and may result in a negative image for the company, and as a result, people may not join. Ensuring that all employees and sponsors get proper training to work and excel must be the top priority of every network marketing business.

Wednesday, 22 February 2017

Understanding a binary MLM income calculator

Know how binary MLM income calculator plan works and why they are so popular in the networking marketing business.
Binary MLM plans are considered to be the most attractive MLM plans of all. The reason is your network can be grown efficiently with all the help you can get from your uplines, downlines and sidelines.
To explain to briefly, a Binary MLM plan, as the name suggests, allows you to have only 2 direct downlines in your network. Yes… just two. Any distributor in this MLM business plan can have only 2 direct downlines. If you wish to grow your network, you have to keep adding downlines to your downlines.
Binary MLM plans were introduced sometime around the late 1980s and have become one of the four most popular company structures in the 2000s.
The two distributors who have been signed up are called the power leg and the inside leg. New distributors who sign up are usually placed under the next available empty spot under the power leg. The profit leg has distributors who are usually prospected and recruited by the immediate upline. What a binary plan does is that it puts a firm structure in place that ensures that all distributors have a similar fixed income plan as per the depth of their network, i.e., you can earn good money only if your downlines are active and growing your network. Your income stops or becomes stagnant if your downlines are not active.
In a binary plan one can get three types of commissions:
Sponsor bonus: A distributor gets a sponsor bonus when he signs on a distributor directly under him. This can be a lump sum amount or a percentage of the plan signed onto by the prospect.
Pairing bonus: MLM businesses pay pairing bonuses to distributors for the downlines placed under their direct downlines. This bonus is sometimes calculated as a points system for every person signed on or can be a lump sum per person or as a percentage of what a new joinee signs on as.
Matching bonus: It is the amount earned as a percentage for every person signed on by your downlines. This actually starts almost 5-6 levels below you and is actually a motivation for you to grow your network deeper.
Compensation Plans
Not all MLM companies have the same compensation plans for their binary MLM plan, but some usual compensation plans have been explained below.
Each distributor under you is called a leg and the one performing the worst is called a payleg and the one performing the best is known as the profit leg. As per a balanced volume concept used in binary MLM plans, members of both the trees will be paid a certain part or percentage of the pay leg’s incremental growth. This plan does not look at how much each individual has achieved. This results in a process called flushing, i.e., the sales difference between the profit leg and the pay leg is actually lost by this particular network.
This is a major disadvantage which results in distributors leaving an MLM business or not putting in a enough effort as it does not completely recognize an individual’s efforts.
Most distributors introduce many more sponsors in the pay leg in order to cover up for the backlog. This process is called balancing the legs. This is basically handholding one of your downlines in order to ensure that both your legs are on an equal footing.
Many MLM businesses frown upon this practice and try to avoid this by framing rules that prevent distributors from balancing their legs.
Another disadvantage of the binary plan is that as your network grows, the amount of money earned also reduces. Yes, you read it right. The money reduces. This is because, your network may grow, but the actual sales of your products may not increase by a lot as sales will still be carried out by a only few people.
While this results in your network members growing exponentially, but not your sales. So, your commission and incentives, which are distributed across your team, will not grow exponentially, and what you as an individual get will be much lower than before. This results in a lot of heartburn and resignations and has been cited as the biggest reason for many successful MLM businesses to shut down.
An important factor which influences the running of your MLM business is the MLM software you choose. Having a binary MLM plan compliant software ensures that you get all the MIS reports in a format of your choice without depending on your company auditors and finance team.
One such software you can trust is DNB MLM Software. Apart from providing the usual software solutions like inventory management, OTP facilities for payments, SMS blasters for instant network communication, excel MIS reports etc. what sets them apart is their ability to customize softwares and solutions as per the requirement of your business. DNB also supports the various binary MLM needs like computing the sponsor, pairing and matching bonuses, keeping a track of the network, the profit leg and the pay leg etc.
Conclusion
A binary MLM plan is currently the most sought after MLM plan as it allows distributors to grow their network easily. However, what is most suitable for one person may not be suitable for another and you should choose your business plan carefully based on your unique needs. Any software you choose thereafter should take into account these needs, so you can derive maximum synergies for your business.

Tuesday, 21 February 2017

Policies and Regulations governing MLM in India

MLM companies have a unique working mechanism. They work on a sales incentive model where each direct seller is entitled to a commission decided and accepted legally by both the parties. To authenticate the whole mechanism and to ensure a smooth functioning in the said sector, there was a dire need for regulating it via certain policies and regulations.
These regulations are universal in India and each MLM company needs to abide by these for seamless operations.The consumer affairs ministry thought that it is necessary to regulate these companies and brands through guidelines in order to keep fraudulent activities at bay. Here are the conditions every direct selling entity should meet in order to have permission for direct selling:
The direct selling entity needs to have VAT, Sales tax, TDS and income tax numbers. These are mandatory as per the regulations and lacking any of these or any other licenses that may be needed will lead to the direct selling entity being deemed as unrecognized and illegal. These numbers establish the company as a legal body that pays its taxes regularly as required.
A bank account with one nationalized bank is another mandate laid down by the law that governs the MLM practices in India.

MOA (Memorandum of Association) should define the nature of business of the direct selling entity. This helps the direct seller understand the products and services better before getting into a bond with the company so that there is no discrepancy later.

The incentives/commissions need to be paid to the direct seller within the time period and at the rate agreed upon.

The official website of a direct selling entity needs to have a list of all the authorized direct sellers with their identification numbers, if any. This helps the consumer to check the authenticity of a direct seller before purchasing, thereby reducing fraudulent selling.

A consumer grievance cell needs to be in place so consumers have a proper forum to for grievance sharing and redressal. These grievances need to be addressed and resolved within 7 days from the date of complaint by the complainant. This assures the consumer of the credibility and reliability of the company. They will know that there is a place they can go back to, should they face any problems and the time frame of 7 days gives them a further assurance that every complaint they may have will be resolved within that particular time period.

There needs to be a proper process of application and screening by the direct selling entity in order to appoint or authorize anyone to become a direct seller. This is a very important step in the process. A direct seller’s trustworthiness matters to a consumer and when the company has a proper screening process in place, the buyer will not have any dilemma before buying a product or service from the direct seller.

Once appointed, a proper agreement needs to be signed by both the parties, the direct selling entity and the direct seller. Everything on paper is always essential to avoid any unforeseen future problems between the two parties.



Anybody applying to be a direct seller needs to be eligible to be in a contract as per the Indian Contract Act.

Unique Identification Number needs to be allotted to every direct seller by the direct selling entity. Only then can they obtain a license or permission to start selling the products or services.

No additional incentives are allowed to be paid outside of the agreement. This is to keep the agreement terms and transparency intact.

Goods of quality below the permissible standards and the ones that have exceeded their expiry date can’t be sold by the direct seller. The consumer is in a safe position knowing that they will not receive a product that is not up to the desired standards.

Money circulation scheme barred by the Prize Chits and Money Circulation Scheme Act, 1978 shall not be indulged in by the direct seller or the direct selling entity.

The goods should have the MRP clearly displayed on them in a legible condition to avoid discrepancies and maintain transparency.

The goods need to have a guarantee or warranty on them. The consumer should have the freedom to exchange or return any goods that he/she finds unsuitable to them for any reasons including, manufacturing defect. This exchange or refund can happen within 30 days from purchase and the seal of the product should be intact.
List of relevant documents to be maintained by the direct selling entity:
Certificate issued by the Registrar of Companies, Memorandum of Association and MOM.
TAN, PAN, DIN, TIN photocopies.
CST Registrations, Sales Tax and Service Tax certificates.
Sales Tax returns, IT returns and Service Tax returns copies.
TDS statements of all distributors.
YYC and KYDS needs to be maintained by every direct selling entity.
These are guidelines are important for those running a direct selling company or those planning to start a company that will be a direct selling entity or if you wish to become a direct seller. These are the norms you need to be fully aware of to make your business legally compliant with MLM regulations in India.
This helps you know the authenticity of a direct seller or a direct selling entity, thereby safeguarding both parties from fraudulent practices. You need to ensure that none of these points are ignored in order to be an authorized part of the sales and purchase channel of MLM in India. These regulations ensure that the model of MLM remains safe, trustworthy and transparent for all parties involved.

Monday, 20 February 2017

How to promote your MLM products without spending a bomb

Who says marketing your MLM products costs a bomb? If you know the right low cost tools and use them effectively, you can still see great results and see your business flourish. 
Having a good product or an excellent MLM business plan is not enough to sell your products or to build a huge MLM network. It is important for you to promote it in the right way, at the right place and to the right people.
Contrary to what most people believe, you don’t necessarily need a big budget to market your products. There are some inexpensive and even free tools at your disposal, both online and offline that can help you market your business and products effectively. They are:

Flyers – newsletters – videos

This is an underrated but highly effective way of promoting your MLM products or business. Selling more products to your existing base of customers is an effective way to increase your sales and build a strong base of loyal customers who stop looking for better products from the market as they are satisfied with what you have to offer. Marketing in print and TV media is very expensive, and if you come to think of it, it’s not even required for customers who are already using your products. Just sending flyers and newsletters regularly about the new products, schemes, incentives and offers to such customers is enough to lure them to try products that they are not using or use those in greater quantities. This lets your customers know that they are valued, promotes your products and increases your sales. Sending links of videos is another way of letting them know about interesting ways to remain updated with the latest trends in the market.

Seminars/ lectures on generic topics

A big challenge that many MLM companies face today is that despite of social media and internet, there are millions of people in the developed world who are still unaware or skeptical about MLM business plans and its products. The reason is that there are many people who have never been introduced to these business opportunities online and/or offline. Getting these people online is difficult, but it is possible to have them listen to what we have to say at community gatherings. In places where you feel that your MLM business plans will have good traction, you can organize seminars on generic topics like personal finance and investing. From there on, move to talking about financial independence and MLM income calculators. These seminars/ networking sessions are subtle techniques to reel in prospects who are aligned to your broader goals of financial freedom.

Blogging

Blogging is one of the best ways to promote yourself as an industry expert and also one of the most cost effective ways to promote your products and MLM business plans. You should write blogs that help your target group in finding answers to their pain points and connecting with the right sources to help them in any other way. You should aim to position yourself as the go-to person for all queries related to the MLM industry. This will make people seek your opinion or your stamp of approval for every decision that they wish to make with respect to an MLM business. Due to your new found celebrity status, it is easier to attract attention, leads and many hot prospects by just writing articles on relevant topics every week. This is an easier way to sign on prospects who will actually need very little persuasion to sign on.

Social media

Social media is one of the fastest growing media in the world. A huge chunk of people are now turning to it for all personal and professional reasons. Social media lets people stay connected and updated with all that is happening in the world. By being active on social media and sharing relevant posts online, you are keeping your audience engaged with relevant information about the your business and products.
You need to have a well planned strategy for it as each medium like Twitter, Facebook, Instagram, LinkedIn etc. appeals to a different set of people.

Having a well thought out plan is necessary as social media users are often considered hyper active online and not having a well defined message or communication can result in your efforts getting lost in the cacophony of the vast amount of data. One major reason for social media’s popularity is that it may soon overtake traditional media and your message can easily transcend geographies with less effort and money.

Conclusion

Promotions and marketing are extremely important aspects of any business, but there are no set rules for marketing your products. History has shown that many companies have grown into multinational behemoths with shoe string budgets, so there is no reason why innovative marketing and promotional solutions cannot help you do the same.

Sunday, 19 February 2017

Powerful Marketing Secrets of MLM Pros

Summary:Network Marketing Gurus have a lot up their sleeve. Read on to know some of their best kept secrets.

Network marketing is for those who are confident and have the personality to convince others easily. Network marketing can be thought of as a word-of-mouth marketing on a large scale. However, it is not everyone’s cup of tea since it requires a particular skill-set which needs to be learned and honed in order to be successful at being a MLM and network marketing solution professional.
Here is what the network marketing gurus do differently that you need to follow in order to be as successful as them.

They know their target audience


If you don’t know who you are selling to, you will not succeed. Your product and service must be specific to a particular group of people based on age, location, gender, etc. You need to define your audience before you take the plunge into promoting your MLM and network marketing solution. Once your audience is defined, it will be much easier for you to sell.

You will not be wasting your time on other people for whom your product/service is not of any relevance. You save time and generate more leads.

They focus on a few marketing strategies at once


If you are all over the place, trying to promote your business using every possible marketing tool, you will end up with poor results and burnt money. Don’t go for all MLM software solutions in India that you know of. Choose one and stick to it. Same goes for your marketing platforms. Start with one and stick to it for some time, if it is working well, try out another one. If it does not work out, drop it and try something else. No matter how many trials you do, the key is to focus on just one or two at a time to help yourself to stay away from confusion and for better monitoring and results.

They never stop learning


Yes, the pros are pros and should know everything but the truth is that you can never know everything, even if you are an expert at something. Don’t shy away from learning as much as you can about MLM and network marketing solution every single day. You never know when you might end up learning a new marketing trick!
So keep your bookshelves and your list of blogs full and make reading these a part of your daily business activity. Also of importance are success stories of so many individuals like you. This helps in keeping you driven and motivated on a regular basis. Be open to educate yourself about your line of work every day.

Social media for business


Everyone is aware of the huge benefits social media can offer to businesses across the globe and across industries. You need to know that it is five-fold more beneficial to your business because MLM software solutions and network marketing are all about networking! 

Use this to your advantage and don’t leave any stone unturned when it comes to exploring marketing opportunities on Facebook and Twitter. Social media needs to be on top of your marketing charts. You will see the results pouring in soon.

Consistency


A spurt in energy this day and a lack of enthusiasm on another does not work at all when we have MLM in question. The whole profile is such that you need to be on your toes and in form every single day. Create your plans, write your to-do lists and start out fresh every day. Do not leave any task until the next day. Finish everything that you plan today and start with a fresh list tomorrow. Follow this every day and be disciplined.

A good MLM software


A well-designed software customized to address the specific needs of your business can be a huge advantage, since it can help track of the entire work flow and generate customized reports in a jiffy to facilitate in the decision making process. With the right software, managing the day-to-day operations can almost seem like a cakewalk!

DNB MLM Software Solutions is one such leading MLM software company that is known to global clients with a wide range of MLM software solutions for over 7 years.
These are all of the things that network marketing pros do without fail and that is exactly the reason they are where they are. You can be too, only if you follow everything the way a pro does. All of this will differentiate you from others and your business is bound to succeed. It is time for you to become an MLM pro!

Thursday, 16 February 2017

How to Get More People to Join Your MLM Network

Attracting prospects to your network marketing chain is the key to a successful business. It is a vital component of your plan and you need to get more people to sell and promote your product for you in order to see your business grow.
Many MLM companies make the mistake of putting ‘luck’ into the picture. It is not a matter of luck but the right tactics to get more prospects to join your network marketing community.
MLM plans or MLM software solutions do not work wonders for your business just like that. It is you who needs to ensure an attractive profile for your business first before any tool can work on your business.
If you are not a successful influencer, then nothing will help you grow in this business.  Your MLM business plans can be successful with the help of the following tips. These are necessary for you if you wish to get more and more people to join your growing network.

Don’t hard sell

The worst that can be done is to oversell your product and sound desperate for someone to join your network. This can do more damage than good and you need to stay away from this practice if you are to help your MLM business plans to be successful.

If you put too much pressure on a prospect, he/she will not be comfortable and will probably question your products and services more than being convinced about them. You need to be easy going, explaining all benefits of your services in a calm fashion while using convincing words and questions at the end of most sentences; like “I think this is a great opportunity. Don’t you think so?”. This will help you gauge the prospect’s response as well. If you don’t think it is working out with one person, don’t push. There is plenty of fish in the ocean. Let go.

Don’t search for a magic formula


You can use some brilliant MLM software solutions like DNB MLM Software solutions that will make your work way easier than you can imagine. With almost everything automated, you will not have to bother with too much manual work.

However, despite such brilliant tools being available for you to use, you need to remember that you are the only one behind the steering wheel of your network marketing business. There is no magic concoction that will transform your pumpkin into a horse drawn chariot. You will need to build it for yourself. So instead of searching for answers outside, you need to realize your true potential and remember that you are the only one who can make it or break it.

Welcome rejections


Rejections will be plenty and you have to be ready for it. Even though you never mentioned rejections on the checklist of your MLM business plan, they are inevitable and a part of any business.

You can’t get bogged down and reduce your efforts. Don’t let negativity affect you as there is much more ahead of you than what is left behind. Rejection is not failure and you need to move on to the next prospect. Not every prospect will convert into a marketer for you and that is absolutely okay.

Be interesting


Well, not that you aren’t already. You are smart and are using the latest MLM software solutions and tools for your business. However, you need to understand that people get attracted to interesting people who are good communicators. You need to be driven and passionate for other people to flock to you. They will be curious to know where so much drive is coming from and then it will be easier to influence them. If you are someone who is charging towards his/her goal and is very dedicated, people will aspire to be like you and these prospects will be easy conversions.

Lead and let them follow


Instead of waiting for the universe to bring you success, get up and get going. You need to be a leader of your own choices and success rather than someone who waits around for things to happen. None of your prospects will like someone who sits and waits for things to fall into his/her lap. They like to follow someone who is passionately following a goal and is leading them to that goal as well. Be that leader and you will attain thousands of followers very soon.

These are the few things that will help you get on top of things and see your business soar higher. You will attract leads faster and be able to achieve much more in a lesser time. Your MLM business plans will be successful if you are a visionary who leads the pack with utter confidence and aplomb. For anything and everything, confidence is a precursor that can convert dust into gold.

Wednesday, 15 February 2017

5 Effective Ways to Generate The Best MLM Leads

Summary: No business is scalable in the absence of leads. This is more so in the case of network marketing and there are many effective ways in which leads can be generated for your MLM business.
Leads are the foundation of any business. You may have an outstanding product, business plan or MLM software, but if you do not have enough leads, all these are of little use?
Network marketing essentially requires people as the face of their promotions. A great network of people will mean a great reach and a great reach will ensure more business. It is a chain process where every link is important. Many MLM software companies don’t pay enough heed to this significant aspect of their business and end up losing out on a great deal of business.
There are two ways to look at leads. Either you put in money to buy leads for your network marketing software company or use the resources you already have in hand. Obviously, you would want to save money and go for the resources and people you already know which is a great idea! This is because the people you know are already willing to do this for you and if you can convince them enough, they will go all out to make this successful for you.
These handful of people, say a 100 of them, will probably do much better in effort and results than paid leads. Once your product and service is warm enough among a small network, you can probably go for a few paid leads to expand the diameter of your reach. Not only will this kick-start your business well but will also save you big money because good paid leads are very expensive.
Now that you have understood the reason why generating leads is of utmost significance to your business, let us take a look at 5 ways in which your MLM company can generate the best possible leads.
A personal website
A website is your business card. Whether you are a network marketing software company or an MLM company dealing in health and fitness, a website is not an option but a necessity. Many amazing companies offer great websites that can help you get your services on a pedestal for others to look up to and follow.

If you are not into making a direct website for your business, you can always go for a blog that covers the subject revolving around the kind of services you provide. For example, if you are providing lifestyle products and services, start a blog that talks about these areas and has several articles that help people in getting what they need.

You can get MLM specific websites made by DNB MLM Software Solutions that specializes in all kinds of tools needed by network marketing companies. With their expertise in the field, they have the ability to provide you with the best solutions for your kind of business.

An auto responder
Simply building a website is not going to take your MLM business far. It will surely attract people but then you need to get them to subscribe to your website. The best way to do this is to offer them some great deals or some freebies, so that they sign up with their email and name.

You can then reach these prospects regularly via email informing them about you products and services from time to time. You will find a lot of MLM software companies that provide this service for your network marketing business.

The power of social media
Social media as a platform just can’t be overlooked in anything anyone is doing in today’s digital era! And for businesses, it is a boon. Specially, for something like an MLM business, social networking is a great to generate leads and interact with prospects. Do not ignore this powerful tool to get some fantastic leads for your products like network marketing software and services.

Write more articles
This is a very simple and cost effective way to generate leads. You need to ensure that your article doesn’t look like an advertorial that is full of your brand’s name and is an obvious promotion. You need to be subtle and informative on the subject that you are talking about. Only then will other relevant websites be interested in publishing your article.

Referrals
Referrals are an underrated way to generate leads. These can be way more important than you think. If someone has come to you after hearing about your product or service from someone else, then they are already sold on you!

A referral programme is not difficult to set up. All you need to do is to give some discount and freebies to those who refer your product to others. Once the leads are in, you can begin pitching and following up. This is a great way to expand without spending much.
There is a plethora of good network marketing software companies that will take care of almost all your business leads when it comes to lead generation and closing the sale. There are so many effective tools, as mentioned above, that will help you generate a good number of leads and help you grow your business.
So, get into action and use these tools to see your business take big leaps towards success.