MLM software is also known as network marketing software and is an affiliate marketing management tool. The software is used by enterprises to keep track of the agents in the network, the sales, the commissions, payouts, and referrals. Agents can access the website to know their network status and commission amounts. Sending updates, asking and responding to queries, making payments, connecting with the social media platforms, etc. are additional features of the software.
Organizations that use the network marketing business model find it easier to use MLM software to manage their business effectively. Network marketing looks quite easy from the outside. But to ensure that the agents get their commissions, rewards, etc. on time and as per the rules, it is necessary to have a detailed system in which the position of every agent is specified.
An MLM business can be successful when it has a solid plan that is trusted by the agents and the management. Transparency is another key requirement for the success of the MLM business model. The Best MLM Software Company in India ensures that its software meets the specifications and requirements of most of the enterprises. Any additional features can be easily added to the software through integrations.
An MLM plan is a method or algorithm of network marketing which defines how the commission and decided and how the referral system works. The plans can also be customized as per the requirements of the business. The following are the most popular MLM plans used by various enterprises from around the world.
- Binary MLM Plan
- This is a simple and popular network marketing planused by many enterprises. The agents are added to the network to resemble a tree-like structure with two branches- left and right.
- Every agent should add two new agents to the tree. They can, of course, add more and the rest will be spilled over vertically. The profit generated by the agents will be shared with those ancestors who have recruited them.
- Matrix MLM Plan
- The Matrix plan is a favorite for many organizations. It is also known as the Forced Matrix Plan. The plan has a fixed form and hence is easy to manage. With 2*2, 3*5, and more such forms, enterprises can expand the network in a controlled manner.
- Board MLM Plan
- Board Plan is the newest MLM plan in the market and is fast gaining popularity. It is widely used in countries like the USA and Brazil because of the complexity it offers. We don’t see many enterprises opting for this plan in India.
- The Board can contain 3, 5, or 9 members in it. The team is then divided into two sub-boards and the best performing team gets to the higher level. New members are added to the remaining ones and a new board is formed. The cycle continues as more members are recruited.
- Generation Plan
- The generation plan is considered the most effective plan and significant plan that provides great rewards. This plan can be followed and implemented easily by new startup businesses.
- Every agent recruits and motivates new agents to generate more sales. This will not just bring more profits but the agents will also be rewarded for the sales generated by those they have recruited.
- Australia Binary Plan
- This plan is not as popular as the American Binary Plan, though it is equally simple and effective. The Australian binary plan can be termed as an extension or a continuation of the binary plan. There is just another additional element in this plan.
- Apart from the right and left branches, a third branch can be added at each level of the network. The new recruit need not get the same commission as the other two. This plan is useful when enterprises want to build parallel branches at the same level.
- Gift Plan
- Also known as the Donation Plan, Help Plan, or Money Order Plan, this plan is not an MLM plan. It is more of a concept in which gifts are sent to one user and received from multiple users. The plan follows a clear approach and provides many chances of generating more income.
The best MLM company provides business enterprises with an option to integrate the following modules into the existing MLM plan.
- E-voucher allows businesses to conduct transactions through a secure platform.
- Virtual money can be safely stored in the e-wallets and accessed whenever required.
- Auto Responder
- Automatic emails are sent to users in the network.
- Ticket System
- It is an easy way to keep track of complaints and resolve them faster.
Enterprises can contact the company for more information about MLM software and its customization.