Looking back offers a perfect insight to look ahead. As 2019 comes to an end, it is time to review the year’s milestones, highlights, and surprises in the Multi-Level Marketing (MLM) sector. More specifically, how will current events and developments influence the growth prospects for 2021? Here are the latest trends in the Network Marketing industry.
We can expect to witness in the upcoming year 2021.
Targeted Niche Industries will Thrive
The age of mass-market goods has stopped. More than ever, selling is about listening to the interests of particular groups of customers and generating advertisements that meet those needs. Effective members move beyond the “people they know” approach to building groups – whether online or in-person – made up of a given target client. These groups are focused on common values that are related to the solutions offered by the product or service.
In other words, marketing in 2020 is about getting a deep understanding of the niche and how consumers in that category shop. Rather than leading product functionality, powerful marketing messages concentrate first on the customer’s challenges and how the product solves them. The best network marketing company in Namibia can empower your MLM business with the best compensation plan in Namibia and help your business grow.
Purchase Experience will drive Business Growth
Buyers have an option today. These options also require access to the same or related goods and services offered across various platforms. When Amazon pushes distribution timeframes and conventional retail fails to reinvent itself, MLM businesses have an edge.
By contrast, the direct sale has the potential to distinguish the perspective of the buyer and to establish an authentic partnership between the vendor and the buyer. The best compensation plan in Namibia offered by the best network marketing company in Namibia can help you in enhancing the overall consumer experience.
MLM businesses have grown beyond conventional group activities to offer the same sense of community online through live promotions or social sales. Today, MLM platform upgrades greatly increase the representative’s capacity to sell live online, as well as the buyer’s ability to make transactions without needing to leave the live case.
Even in 2020, when Facebook begins to clamp down on online purchases in its marketplace, the live selling capabilities of MLM app platforms will become even more relevant. The best compensation plan in Namibia can even further enhance your profit prospects.
CSR will play a Pivotal Role
Millennials – and Gen Z behind them – begin to rely further on corporate social responsibility. As customers, these generations are most likely to affect the commitment of a business to social issues through their purchase decisions. Ninety percent of Gen Z consumers claim they are more likely to purchase goods that give social or environmental benefits.
Many DSOs are now associated with this pattern – not that it’s trendy. As an industry, MLM businesses have a long history of social involvement, including the contribution of a portion of profits or the commitment of sales proceeds for individual goods to a worthy cause. In reality, several MLM organizations are based on philanthropy missions.
Authenticity, however, is essential for younger customers. If they see a company capitalizing on a social cause purely for commercial reasons, they are likely to use social media to disparage and ultimately hurt the brand. The development of MLM comes in several ways. The best network marketing company in Namibia can help you in establishing a robust and sustainable corporate CSR strategy to enhance the image of your MLM venture.
The GIG economy will Thrive
The members of the MLM were the trailblazers of the “side hustle.” Now, the rest of the world is catching up. Today, almost one in four Americans gain income from “gig” jobs, and the amount of people whose primary income comes from this kind of self-employed work is rising.
With the rise of the gig economy, there are more opportunities for MLM members. In an intensely challenging world for attracting and retaining the best representatives, the tools and services provided by the DSO are crucial. MLM businesses that make it easier for representatives to start and expand a profitable company build a differentiator in the market.
Compliance will drive Sustainable Growth
No surprise. Enforcement will remain at the top of the list as businesses begin to adapt to ensure that their attention is first on product revenue. The best network marketing company in Namibia can help you in ensuring legal compliance. In addition to ensuring the focus on paying commissions on product transactions, businesses must also improve their record-keeping and payment systems.
Technology makes sales easy to manage and commissions easier to measure and account for. Ground-breaking MLM tech along with the best compensation plan in Namibia continues to become more available and affordable to MLM businesses of all sizes. Via automation, businesses not only show consistent compliance with regulatory requirements but also gain productivity that helps drive growth.