Multi-level marketing shuns the traditional channels of product and adopts a unique approach. You build a network of distributors that sell products on your behalf.
Distributors receive commissions and you gain sales and revenue – a win-win situation for both parties. However, managing a large workforce that is somewhat independent of the company is an uphill task.
Add to it the commission that each individual must receive based on their performance and you have a task ahead that could easily topple your entire workflow.
MLM Software Overview
It’s an AI-powered solution that can easily handle sales, network, recruitment, commission, compensation plans, and more. In short, MLM software is the power source that drives modern-day MLM businesses.
That said, choosing the right MLM software is also a challenging endeavor. One primary hurdle that businesses face is to pick ready-made or custom-built MLM software. Let’s explore the differences and understand which MLM software solution is better.
What Are The Advantages Of Custom MLM software?
Custom-made software is the primary choice for most MLM businesses. It packs numerous advantages in terms of flexibility, scalability, and features. Let’s explore them one by one and understand why custom MLM software is a raging hit in the MLM sector;
The first advantage of custom MLM software is that it’s tailored to your business needs. Each business has unique requirements; for example, commission structure, compensation plan, third-party integrations, AI and ML-enabled functions, and more. Customized MLM software allows businesses the flexibility to tweak and adjust its features. It helps curate a solution that does what your company requires; with nothing extra that might hinder its performance and impact the business.
The ultimate goal of every business is growth and expansion. Likewise, the underlying software solution that manages workflows should also need to be robust enough to adjust to the growth. Only a custom MLM software is equipped with the ability to scale as per the growth. For example, custom MLM software has the scalability to accommodate more features, third-party applications, or API integration to expand its functionality.
It’s perhaps the most alluring attribute of a custom MLM software. You can include whatever feature that strikes your fancy. You have a hybrid compensation plan, no issue; you have a unique rewards and incentives mechanism, a custom software can do that. It offers you an edge over your competitors and helps you stand out from the crowd.
MLM software can’t be equipped with every possible feature. It’s neither feasible from a functionality point of view nor practical in terms of resource allocation. However, custom MLM software allows enough room to integrate third-party applications (CRM, eCommerce Accounting, etc.) whenever you feel a need for extra capabilities in your MLM software.
Cost consideration is a huge factor when choosing an MLM software. Custom MLM software has an advantage here too. You can handpick the features and functionality you need and eliminate the extra clutter. This way, you pay for only what you need and nothing extra, making the end solution cost-effective.
What Are The Benefits Of Ready-made MLM software?
It might appear that custom-made MLM software takes all the limelight. However, ready-made MLM software is not without its fair share of benefits. Let’s explore them all and understand in what situation a ready-made MLM software might be a better option;
One major advantage of ready-made MLM software is quick Implementation. You don’t have to deal with the complexities of hiring a developer, deciding over what features you want, and more. A ready-made MLM software is an out-of-the-box solution rightly equipped to handle most of the MLM processes.
A ready-made MLM solution can be cost-effective too. You don’t have to spend on a developer that saves a ton of money. You can also dodge the hefty maintenance charges that a custom solution gulps down regularly. Furthermore, pre-built MLM solutions are straightforward and user-friendly. Therefore, you don’t have to invest in training your team which again saves you money.
Although, some businesses may frown over the limited customization of ready-made software; it’s an advantage in many situations. Most of the time, ready-made MLM solutions are equipped with industry-tested features, so you don’t have to reinvent the wheel yourself. It translates into faster deployment and easy integration into the process.
Ready-made MLM software is designed keeping in mind the needs and requirements (registration, commissions, sales, genealogy tree) of most MLM companies. This way you can get started in the MLM space swiftly and denote most of the resources towards business growth.
An MLM software is not a one-and-done deal. It needs regular maintenance and upgrades to continue functioning per the changing business needs. In the case of custom software, updates need to be done manually which wastes precious time and requires ongoing expense. However, in the case of ready-made MLM software, updates are automatic. It ensures that the software is always operating to its full potential. When your MLM software is updated, it works at its peak efficiency which enables MLM business to thrive.
Factors To Consider When Choosing An MLM Software
Both custom and ready-made MLM software have advantages and disadvantages. It puts you in a dilemma and makes it challenging to pick the one that is most suitable for your business.
Here are the steps that make the process simple;
MLM software is the structural foundation on which modern-day MLM business stands. Therefore, picking the right MLM software is vital for business success. That said, prioritize your business requirements, budget constraints, and customization needs when deciding between ready-made or custom MLM software. Remember, your MLM software should complement your workflows, not restrict them, therefore choose wisely.