For a business to stay relevant in the market and retain the customer base, it is essential to use the latest technology to boost productivity and sales. If you own an MLM-based business, you will know how important it is to motivate your agents, track sales, explore new markets, and pay agent commission on time.
From referrals to payments to sales, everything can now be managed from a single platform. The MLM software, also known as the network marketing software, is a great tool that helps in understanding, controlling, and monitoring all the business operations.
As MLM-based businesses increased, so did the software solutions. Numerous software development companies are offering MLM software in today’s market. Each of them has its benefits and disadvantages. But what is more important is to find out which of these software solutions is suitable for your business.
In this blog, you will find a detailed list of features that will enable you to get your business the necessary boost using real-time analysis, data reports, and fast processing of transactions to accept payments from customers and pay commission to agents. If you are looking for best Mlm software, make sure you ask the company if the software has all the essential features.
A software solution is designed to cater to various businesses. Even though it is effective as it is, customization will make help in making the necessary changes so that the software will meet the exact demands of the business. Whether it is something as simple as changing the page layouts and themes or adding multicurrency modules, if the software cannot be customized, it is not useful for your business.
Online shopping is the in-thing in today’s world. If your products are not available online, you are likely missing out on great opportunities to attract more customers. By integrating the software with open-source platforms like Magneto and Opencart, you can use the website to sell products directly to customers, irrespective of their geographical location.
However, you should develop the necessary logistics to deliver the products.
Automatic Payment Gateway
The job of the payment gateway is to facilitate payments between different parties involved in the business. It has the security features built into the system so that you don’t have to worry about confidential data being at risk. The MLM software you choose should either have a payment gateway or the company should customize the software to include the gateway with user information, two-factor authentication, and advanced security features. You can also accept Bitcoin payments if you wish to.
While accepting customers’ orders is one aspect, paying agent commission is another. The commissions are paid at the beginning of the month and sent out in bulk. By having a secure and reliable bulk payment system, you don’t have to send individual payments to every agent. With a single click, the commission amount will be calculated (based on the compensation plan you choose) and deposited to the agents’ bank account.
A replicating website is where every agent is provided with a website of his/ her own to attract customers and hire new agents. The agent uses their website to interact with prospective customers, follow leads, and finalize sales. The replicated websites are made SEO-friendly to give them an added advantage.
The money paid by customers or the money that needs to be paid to the agents can be stored virtually in the e-wallets. E-wallets are perfect for cryptocurrency. If you are planning to accept Bitcoin payments, ask the developers to include an e-wallet as a part of the MLM software.
Data Backup and Security
Storing too much data can increase the load and reduce the efficiency of the software. But data is crucial for every business. You will need an MLM software where data is compressed, encrypted, and stored elsewhere with restricted access. This will prevent data loss and also ensure that the software is not overloaded.
As a business owner, you can create an admin account to manage all aspects of the business. Similarly, your employees will also need to access and use the software just as your agents. The software should allow you to create multiple accounts with varying access levels.
When Looking For Best Mlm Software, ask the software developers if you can set automated responses to emails and messages sent by agents and customers. It reduces the manual and repetitive work of the employees and allows them to focus on the core aspects of the job.
Make it a point to ensure that the software provider will offer 24*7 technical support and help train the employees in using the MLM software. If the company provides cloud hosting and maintenance services, it would be a bonus.