In the ever-changing business landscape, direct selling companies must continue to innovate and adapt their strategies in order to stay ahead of the competition. Here are five direct selling strategies that can make or break your company in 2023.
Develop a Strong Distributor Engagement and Communication Process
Your Distributors are essential for driving sales and growth, so it’s important to have a clear process for engaging with them. This includes both online and offline communication channels such as email, text messages, phone calls, events, and training. Your Distributors are your messengers so if they understand the right strategies, company culture, and brand message they are more likely to succeed. A clearly developed onboarding and training experience will improve retention while new recruits can gain their wins quicker.
Provide the Right Technology Tools to Your Team
Investing in technology is key for enabling your team to effectively work from anywhere at any time. Having the right mobile app for your Distributors will give them the advantage of having marketing and sales assets right at their fingertips. Direct selling apps like NOW Technologies’ is a comprehensive sales enablement solution that leads the experience so Distributors can focus on core activities such as prospecting and customer acquisition. Additionally, NOW Technologies provides real-time insights into each distributor’s performance, allowing corporate to better analyze results and optimize strategies accordingly.
Ensuring quality products is essential for customer retention because customers who feel satisfied with their purchase are more likely to become repeat buyers and distributors – resulting in increased sales revenue for the company. Furthermore, having an organization where everyone is focused on delivering quality customer experiences will help build trust with current customers while also inviting potential customers who may be considering buying from your company down the line.
Implement Simple and Repeatable Customer Acquisition Funnels
Creating effective customer acquisition funnels should be a top priority for every direct selling business in 2023 because these funnels ensure that prospects become loyal customers and if they remain engaged with your brand over time they may become Distributors. Often direct selling customer acquisition funnels are not funnels at all. They are messy and disconnected. Statistics report that 69% of all customers leave an eCommerce cart without buying anything at all.
The good news is there are solutions that don’t require you to overhaul your existing eCommerce store, but rather add on a supplemental conversion tool. NOW Commerce is a simple direct checkout link that reduces friction at checkout and facilitates a focused and quick way to acquire the customer. The application can be focused on sales acquisitions or a recruitment strategy.
Define The Right KPIs and Performance Measures
Direct selling companies must define key performance indicators (KPIs) that accurately capture progress toward business objectives. These KPIs should measure performance at both individual levels (for things like engagement activity and sales performance), as well as other metrics across multiple layers of the business (time to first sale, retention, and so on). Once these KPIs have been established, they should be monitored closely so you can identify areas where additional resources need to be allocated to drive growth within your organization.
Direct selling companies must continuously iterate their strategies if they want to grow their market share in 2023. By developing strong engagement processes, providing sales enablement technology, implementing simple customer acquisition funnels, being customer-centric, and defining appropriate KPIs/measures, direct selling companies can effectively optimize their business models while maximizing return on investment (ROI) along the way. Doing this will ensure maximum success both now —and into the future while accelerating innovation will be key for staying ahead of the competition.