COVID 19 AND MULTI-LEVEL MARKETING (MLM)
The stony desolation resulting from the Covid-19 pandemic is seemingly without end. The pandemic sends the world’s economy into its worst tailspin and businesses are still in the depression stage trying to adapt themselves.
So far, many businesses have been shattered and many aren’t necessarily profitable; it just means they’ve survived.
In short, they don’t have high enough margins to sustain and grow the business.
The revenue of many retailers have dropped due to the main five reasons:
- Change in customer’s behaviors since the covid-19 hit.
- Lack of capital.
- High interruption of supply chains.
- Social distancing.
- Freezing business operation.
In this article, we highlight the impacts of COVID-19 in the MLM industry.
HOW COVID-19 PANDEMIC HAS FUELED A MLM SURGE
Most business sectors are experiencing layoffs due to a massive decline in sales.
According to the latest DSA (Direct Selling Association) Report, the covid-19 recessions tend to be good for MLM’S.
Let’s dive into a catch-all term – Direct Selling!
So what is Direct Selling?
In simple words, Direct selling is a trending business opportunity that allows one to sell products directly to consumers eliminating several intermediaries. You earn a fee on the sale.
Confused between the two words – Direct selling and MLM?
Direct Selling and MLM are not exactly the same things. Let me explain:
Direct selling is a business model where independent distributors sell a company’s products directly to its consumers.
MLM business model is also somewhat the same and the only difference is:
In MLM, independent distributors or individuals earn money from recruiting other people under them to work for the company and to sell the product.
They earn commissions based on their recruits’ sales.
Despite the COVID-19 terrible impact on the economy, MLM growth has been blossoming throughout earning trust from people all around.
Now MLM is considered as a business opportunity that promises a lavish lifestyle at the comfort of your home.
Do You know what is the more troubling fact in this pandemic situation?
Some of you might have guessed it right… Yes, it is Unemployment!
It’s more evident that people will start for an alternate source of income that is where Multi-Level Marketing Comes in handy.
So let’s see some of the benefits of Multi-Level Marketing
5 Main Benefits of Multi-Level Marketing
- MLM business is a very low-risk business compared to other traditional businesses. So for the people who are planning to start a MLM business in this pandemic stage, business failure is not going to be their biggest concern.
- You can earn as much income as you want. It all depends on your ability to sell, there would be no limitation on your income, unlike regular jobs.
- Low operating cost is another important benefit of MLM Business. You don’t have to invest too much on infrastructure.
- With the help of advanced technologies portability of business is not a great concern now.
- Financial Freedom is one of the greatest benefits MLM Businesses offer. You can work from wherever you want and you have total control of your schedule.
MLM Industry At Present
Because of the economic stability Multi-Level Marketing has been hailed as a promising option. MLM is now considered as a reliable income stream that rewards hard work and the value is truly enticing.
MLM is providing an income source to millions of people all over the world struggling with the impact of the Covid-19 pandemic.
Health products are the most popular category sold via MLM Marketing since the rise of Covid-19.
MLM industry has also changed their selling components considering the pandemic. There are mainly
- PPE Kits
- Vaccine Research
- Hand Sanitizers
- Medicine production etc.
So these MLM companies are creating awareness to develop a healthy lifestyle.
Now most people realized the importance of a second income source that gives hope and guarantee the success of the MLM industry in the future.
ROLE OF MLM SOFTWARE IN MLM MARKETING
In Multi-Level Marketing, time is money. Saving time is one the most important benefits of a Lead MLM Software.
Providing onboard training to new MLM team members is one of the biggest concerns of many MLM companies especially at this pandemic stage.
With the help of MLM software, agents can easily share all the training materials to anyone with the click of a button. So people can learn from wherever they want and they can easily start working after the course.
Multi-Level businesses operates on commission basis and that is one of the main reasons why a strong MLM Software tool is needed to track each sales people’s earnings and achievements.
Frequently Asked Questions
- How Multilevel Marketing Businesses are using coronavirus to grow their businesses?
MLM distributors are giving the people an opportunity to work from home which is a big hope for ones who are unemployed. With the help of social media, they are able to find more interested people.
- Do the impact on COVID-19 pushes more people to Multilevel Marketing Industry?
Definitely Yes. As mentioned on the article, People are looking for a alternate source of income.
- How do I see the positive side through this COVID-19 in an MLM Business?
Most businesses are affected badly by the collateral damage of the coronavirus pandemic. MLM business has turn to be golden opportunity for the people to leverage online channels for marketing and expanding their reach. Do your research. You can learn through online courses too.
- Is there a company offering Free MLM Software Demo?
Yes. Lead MLM Software offers a full featured working model demo. Totally free of cost. No Hidden Charges. Check now!
In some ways, MLM Marketing represents a lifeline in the face of a health, economic, and unemployment crisis. Current Statistics depicts the rise Multi-Level Marketing Industry and the many people are considering MLM as an appealing stable income option.