Multi-level marketing has grown into a multi-billion dollar industry. It is a far cry from the humble beginnings of the industry which has experienced a rapid growth surge in the number of people opting for an MLM venture.
Today, an MLM business is more than just a pyramid scheme with shares of leading MLM ventures being traded on the NYSE. In this article, we will state study 10 things that most people don’t know about the MLM industry.
With numerous misconceptions surrounding the MLM industry, we thought why not dispel a few of the rumours and help our readers in acknowledging the merits and potential of the industry.
10 Things Many People Don’t Know About Multi-Level Marketing
As with any business sector, a few misconceptions are surrounding the MLM sector. Moreover, there are a few things about the MLM industry that might come as a surprise for you.
With the first MLM Software Company Nutrilite selling products door to door, to an industry that is now worth more than $100 billion, the MLM sector has surely come a long way. Latest MLM software has made the surge even swifter, of an already high potential sector.
Whether you are a new entrant in the sector or a long time veteran, a few of the facts mentioned below might help you broaden your MLM industry perspective. Let’s begin!
The MLM sector is a $100 billion industry: Propelled by cutting edge Multi-level marketing software, the MLM sector is now a $100 billion industry. This figure is a testament to naysayers who had doubts about the industry’s performance. It is instantly clear that the products sold by MLM companies are not only high quality but also satisfy customer expectations.
Network selling industry follows one of the oldest business models: Since time immemorial, promoting and selling products by communicating with people has been the foremost business model. In ancient times, people used to discuss and then purchase the goods. An MLM venture follows the same business model, albeit, now powered by an MLM software.
The MLM industry spans over 100 countries: Almost every major economy today has functioning MLM ventures that are generating millions of dollars for its members and generating huge employment. It is equally accepted in developing as well as developed economies. Multi-level marketing software has streamlined this growth and made it highly sustainable.
More than half of the MLM members comprise of women: Although the member-base of the MLM industry is diverse, women between the age group of 30-50 form more than half of the workforce. The primary reason for this is the fact that women in their 30’s want to spend more time at home and women in their 50’s don’t want to get bound by a 9-5 job. Multi-level marketing software helps women tremendously in operating all their business aspects without stepping out.
The annual income of a multi-level marketer stands between $50,000-$55,000: Believe it or not, MLM is all about building teams and helping everyone succeed. It may be tough to comprehend that an MLM member would even be remotely able to touch that figure but stats sourced from MLM software layout a complete picture of the earnings of an MLM member.
MLM industry is poised to reach $200 billion by the end of 2020: By the end of 2020, it is expected that the global network marketing industry will reach $200 billion. With increasing cut-offs and margins and decreasing product costs, the possibility of generating higher profits has drastically increased. Powered by the latest MLM software, the MLM industry is sure to touch new heights in the future.
China, South Korea & USA are the top markets in the MLM industry: China is the largest market for the MLM industry. The country embraced multi-level marketing software well in the past and is now reaping the benefits of the deployment. USA is the second-largest market for the MLM industry followed by South Korea.
Every 4 out of 5 MLM ventures are bound to expand rapidly: Since the past 5 years, the success ratio of MLM ventures has jumped from 25% to a whopping 80%. Increased reliance on MLM software along with industry consolidation has driven this growth. Multi-level marketing software’s have propelled the industry and will promote further growth as well.
Changes in FDI policies globally are a welcome move favouring MLM sector: Conservative economies are now opening up to accept investments from foreign entities. This has proven to be a boon for MLM companies that are venturing into global markets now are bolstering the industry presence. The transparency promoted by MLM software can also be leveraged by companies in gaining national approvals.
The global MLM industry is poised to reach $650 billion by 2025: If we go by the current trends, the global MLM industry is poised to reach $650 billion by 2025. The industry has witnessed a CAGR of 20% and is expected to cross half a trillion-dollar valuation by 2025.
It is certain that a few of these facts might have surprised you. The MLM industry is often plagued with misconceptions that it is nothing more than a pyramid scheme but these facts paint an entirely different picture.
With the advent of multi-level marketing software and changing global economic landscapes, the MLM industry is sure to touch new heights in the future. These thoughts will help you in analysing the MLM industry more clearly and will help you in looking at the sector with an entirely new perspective.
If we just look at the above stats, it is instantly clear that the network marketing industry has a bright future. Leading companies such as Amway and Herbalife have paved the way for smaller players in building their following and reaping the benefits of the sector.
Cutting edge MLM software has enabled companies to manage their day to day operations efficiently and today, it is unimaginable to even think of an MLM venture without a reliable multi-level marketing software.