The direct selling industry is still thriving, especially for those who are aware of the main trends. It is important to understand what these trends are to stay ahead of them.
Top 12 Key Trends in the Direct Selling Industry
#1. Virtual Shopping
Yes, shopping is always going to be a requirement but the venue is starting to change with time. The average person has two choices to make when it is time to go shopping. It is either in-store shopping or online shopping depending on how they want to go about spending their money. Direct selling is all about presenting shoppers with a valid option for both scenarios and letting them choose what works best.
Direct selling continues to be one of the biggest movers in the world when it comes to economic impact. Studies show there are millions of people involved in this type of industry. In general, the idea is to have a series of distributors involved in the process, which leads to multiple income streams. However, most distributors are still trusting direct selling as their primary income source.
A lot of professionals are going through a retirement phase when it comes to getting involved in this type of business. This is a common trend that is being noticed as more and more people are venturing down this path at a younger age. In some cases, students are willing to join the industry while studying on the side.
#3. Using the Internet for Communicating
The Internet has become a strong tool for those who want to socialise and connect with others around them. This has led to a globalised setup that is spread from one end of the planet to the other without having to build an extensive budget. The goal is to leverage the online world as a way to engage with customers and convert them into sales.
#4. Technological Advancements
It’s important to note the trend of technology when it comes to direct marketing. Newer advantages are popping up every single day within this industry. Whether it is using AI technology or system softwares, there are new ways of engaging with customers.
Read more on Importance of Direct Selling Software in growing Network Marketing Business
#5. Attracting Investors
This is a trend that is aiming to look at what investors are seeing when it comes to network marketing businesses. They are starting to see it as a great way to generate amazing returns while building a strong business from the ground up.
The charm of direct selling is seen through balancing the playing field and letting everyone get involved including beginner entrepreneurs. There is potential for amazing returns and that is what crowdfunding events are bringing to the forefront.
#6. Becoming Self-Employed
Distributors can easily enter the self-employed status in this industry and that is a common trend being seen across the board. Approximately, 7.6 million people in America are pursuing this as a way to become self-employed while 1.4 million have already moved forward with this as a full-time career.
As more and more opportunities open up, becoming a self-employed professional is a no-brainer. This is a trending way of making money and it has a customised charm to it.
#7. New Distributor Selling Methods
Business funding specialists at Max Funding say, “customers are what matter when it comes to how a business is run and what methods are employed. “They add, “the average entrepreneur wants to provide complete customer satisfaction as that is what leads to sales. This is why distributors must try out new methods in this industry and see how that matches with their target audience.”
This is about building a strong connection that helps spread the business and leads to more sales. This is something that is being seen everywhere in the direct selling industry as the conversion rates continue to rise.
#8. Use of Mobile Devices
Loads of people are using mobile devices when it comes to shopping and it is becoming commonplace to see these devices around you. As a result, mobile devices have become a great way to communicate with others or use key platforms including social media channels, software trackers, and more.
These trends are a great way to learn more about the direct selling industry and how things are developing. With these trends in mind, it will become easier to build a stronger business.
#9. Unique Compensation Plans
The marketing world is not where it used to be. The direct selling industry is using a unique compensation plan when it comes to generating results and inviting success. This includes customised plans that welcome more sales and maximise in-house marketing resources.
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It is about leveraging those techniques and offering additional incentives such as commissions and/or bonuses.
#10. Use of Analytics
Data is easily being accumulated in the direct selling industry, which makes it a powerful way to separate yourself from the others. This is what allows entrepreneurs to maintain an edge over others as they look to increase their returns. It is about leveraging the data and using it as a way to cut down on mistakes.
With more and more ways for accumulating data, it has become easier than ever before to develop predictive models to see what works or doesn’t work. This is something that is going to generate consistent growth in the direct selling industry.
#11. No More Traditional Sales Tactics
The idea of using conventional sales tactics is long gone. With new-age methods and contemporary technology, a new strategy has come to the forefront with great success.
Organisations are using these new-age methods to generate sales.
Read on the Difference Between Traditional Marketing vs Network Marketing
#12. Increase in the Number of Entrepreneurs
A considerable number of entrepreneurs have entered the industry. Millennials and Gen X entrepreneurs are becoming a common sight as they look to build viable brands. These professionals are coming in with experience and empowering the direct selling industry rapidly.
Every field keeps evolving with time. That’s how it was before the before technology took over, and now we grow faster than ever. If you don’t keep yourself up to date and evolve with every change, you will be left far behind the world. As a direct seller, you should know every trend before anyone else and adapt the ones that can give you an edge over competitive markets.