It is famously said, “In adversity lies opportunity”, and how well it fits the Multilevel Marketing companies who have been a dark horse in the industry that has otherwise been on the downtrend due to the economic crisis arising out of the Coronavirus pandemic. Let’s take a look at how the internet and pandemic facilitated the growth of MLM companies.
The Onset of Pandemic Saw MLM Companies Sensing an Opportunity
The onset of the pandemic saw economies struggling worldwide, governments struggling to counter the Covid-19 pandemic, and consumers confined to their homes due to the enforcement of frequent lockdowns. Further, people-to-people interactions became rare due to the social distancing norms introduced to stop the deadly virus spread. Unlike most industries, the Direct Selling Industry sniffed an opportunity to see the pains of the consumers who could not move out of their homes to buy their daily needs and other products. Direct Selling business, which otherwise depends more on face-to-face interaction to showcase and sell their products, was quick to optimize the use of the Internet and sustain their operations and growth.
Internet – Enabling Smart Marketing Ways
Direct Marketing involves selling products or services to a targeted audience and has traditionally used the in-person approach to showcase and sell them. The industry eliminates the dependence on intermediaries or retail shops and does not hire sales personnel on their payroll. It enables them to pass on the financial benefits to the appointed Sales Representatives or Independent Representatives who purely work on a commission-based system.
As the human interaction got restricted during the pandemic and slowed down businesses across the country, the Direct Selling companies did not lose heart; they increased their online presence leveraging the benefits of the Internet. They updated their e-commerce activities and made it easier for consumers to acquire their products or services online. The consumers who are today tech-savvy were more than happy to explore the online market and get their products delivered at their doorsteps.
Further, the MLM companies made maximum use of the online communication software to interact with their Independent Representatives and Consumers alike. They used mediums like online messaging, emails, and video conferencing to connect with them. It enabled them to share training material and product update with distributors. The Independent Representatives gave demos and presentations to their prospects and conducted training for their downline.
Direct Marketing is All about Getting Direct Response from the Consumer
As mentioned above, Direct Selling is all about a one-to-one interaction with the consumer to showcase and sell a product or service. Now with the one-to-one interactions restricted, Direct Selling companies have resorted to newer ways of interaction using the Internet – it is called the virtual ways! Today, Independent Representatives of the Direct Selling companies approach prospects over their mobiles or video conferencing and close deals there. Today, Sales Representatives can receive soft copies of product catalogues or other sales literature using internet connectivity. Today Independent Representatives conduct their product demonstration or presentation using various online video conferencing software. And due to the possibility of the continuing connection between companies and their representatives and Sales Representatives and their prospects and customers, the Direct Selling Industry has been able to sustain its growth and stay unaffected.
Advancement in Technology & Affordable Internet – Revolutionizing the Business World
Amidst the severe onslaught of the Covid-19 pandemic, companies that were quick to adapt to the latest technology and leverage the benefits of affordable internet connectivity were the ones that sustained their growth and prospered. The Network Marketing Industry was at the forefront in doing so and kept it afloat even as companies across industries witnessed a downturn. Apart from that, the industry was quick to pounce on the opportunity that the pandemic presented them. Indeed, adversities bring out the best in some!
There is no doubt that the advancements in the internet and the onset of the pandemic have helped in the growth of MLM companies around the world. But that’s only part of the story. Dedicated companies and direct sellers are also to be thanked for this drastic increase in popularity and profitability of the business and the growth of MLM companies.
