Before starting an MLM business, Everyone knows we need diligence and strategies for some business aspects. But, the things which are more important for MLM business vary from the perspectives of people. Some emphasize on choosing MLM Compensation Plan and payout. Some others believe a viable product is a key to business longevity. Many other’s have other thoughts on quality Service and retention, to cost-efficient production methods. As said above, out of this, which is most vital for MLM business is still a topic of debate.
1. Product Consumption:
A consumable product will help business owners to build a customer base and repeated sales. Fast moving consumer goods like nutritional supplements, Skincare, and personal care gives high repeated-sale index and remains the first preference of MLM industry. This product will provide good residual income for the representatives. Financial, legal and insurance services are always considered as a consumable because these services are purchased periodical.
2.Quality:
MLM or Not, quality product is the main concern of every business. Providing our customers a taste of premium quality will have a positive impact on our bottom line. Moreover, recent studies found out that Nowadays customers are more inclined to brands and quality product & service. We can capitalize on this customer behavior by choosing a quality product for our MLM business
3.Price or Value:
Assigning a value to our product is a step that needs due diligence. Before launching our product, Research & study on the price and value of its competition is imperative. By only this means we can calculate the value of our product in the market. Manufacturing costs, taxes, and brand awareness took into account in determining the Product price or value.
4.Broad Audience:
Products that reach broad audience helps business owners to tackle the problem of diversity limitation since many products that are tailored to specific industry, verticals or customers can’t open new markets. A product that aimed at larger audience can also be introduced to price reductions, and many other offers simply by increasing the production quantity.
In the Philippines, one of the leading provider of MLM System is Geer IT Solutions, Inc. They are providing app, software and websites to their customers.
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