The multi-level marketing or MLM business model has been around for over a century. The longevity of this business model can be largely owed to its adaptability. Over these years, new technologies transformed lifestyles and business models multiple times. But the MLM business model prevailed because network marketers all over the world leveraged the new technologies and adapted themselves to the changes.
MLM software is a necessary part of any network marketing company in this age of the internet, computers, and smartphones. It provides enormous help to MLM companies during the sales and marketing processes. Most MLM software consist of features that help in lead generation, customer management, inventory, and distribution, and much more. But what exactly is an MLM software? Let’s have a look.
MLM Software is one of the most important multi-level marketing or network marketing management tools. Admin and distributors can look over their network, users, and compensation plans using MLM software. End users in the network can view their network status, income, and manage their referrals, payouts, etc…MLM Companies have the facility today to conduct their entire business and track the progress of each process through MLM Software. Other than the essential functionalities, it can also take care of features such as new user registration, product purchasing, transactions, etc…
Managing an MLM business without MLM software would be unthinkable today. Can you even imagine all the calculations that would have to be handled manually? Keeping track of commissions, referrals, and payouts through all the uplinks and downlinks, managing multiple compensation plans, keeping an eye on sales, etc… can all be overwhelming to be done without an organized MLM software.
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Now let’s have a look at some of the essential features and advantages of MLM software.
This is one of the most important features of MLM software. Payments are the most significant process in any business, so MLM Software should have an easy and reliable payment processing system. For security reasons and convenience, most MLM Companies today follow a genuine high-yield investment program (HYIP) and integrate their business process over the internet using MLM Software.
E-commerce is the selling of products and services over the internet. The combination of E-commerce and the MLM business model has been highly profitable. So E-commerce integration is an important feature for MLM software.
There are many popular MLM plans today. MLM software should support multiple MLM plans. The well-known plans include binary MLM plan, matrix plan, unilevel plan, board plan, Australian x-up plan, party plan, MLM Gift plan, etc…
E-pins are a secure way of making transactions. MLM companies choose E-pin for conducting their transactions using e-pin registration. E-pins are generated in MLM Software for Online Purchase, Online Registration, Sign up, Member Renewal, etc… The E-pin feature is a must-have for MLM software.
The E-Wallet is a cloud-based storage system for maintaining data related to E-money transactions. It ensures the speed and safety of E-commerce transactions. In MLM Software E-wallets are virtual accounts through which members can make transactions using the funds available in their account.
MLM is a truly global business. MLM customers could be from anywhere around the world. A proper MLM Software should support multiple languages. All customers should have the chance to handle their business in their own language.
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MLM software can be accessed from anywhere with an internet connection. So, even if you are not in the office and have gone shopping, or on a vacation, or at home, you can still manage your business through MLM software.
Security is always the top priority in the case of MLM software. Payments, commissions, and funds are handled by the software. MLM software is designed with a high emphasis on data security. Multiple security features such as firewalls, data encryption, etc are implemented. All your data will be highly secure and reliable with MLM software.
MLM software is intended to be extremely user-friendly. The interfaces should always be clean and responsive. The software can be easily used by people without even the least technical expertise. This simplifies the whole process of being a member or a distributor in an MLM network.
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Creating an MLM software consists of multiple stages of software development. In MLM software development, the costs can vary or fluctuate based on the features to be included in the software. These features define the MLM Software price and also how much time it would take to release the fully developed version of the software.
The cost depends on the time and effort taken on the project. MLM Software development projects normally cost between $25,000 and $75,000. However, projects, where there are more features and additional time and effort, are required, cost in the range of $100,000.
Here we have taken a look at what is an MLM software, its features, advantages, and how much does an MLM software cost. Develop your MLM software with a leading MLM software development company.