How blockchain will transform the MLM Industry?
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Blockchain technology the revolutionary concept that changed the phase of digital industry is a game changer. And talking about the MLM industry, a marketing model that keeps the sales and network building align together to make the business a proper ‘brand’ tag. Conceptualize something with blockchain is a dream come true moment and blockchain has got such potential to transform the MLM industry.
Blockchain technology aids the business in many ways and as far as it is a concern, now it’s the validation part is carried out by the nodes. Marketing industry got its path right after the multi-level marketing ideas begin to gain the prominence.
MLM Plan & the blockchain – The transparency!
You obviously know How MLM Plan works – Make a donation, and earn from that donation. Well, once the system is integrated using blockchain then, the whole system will be transparent. The transparent nature makes sure of one important thing - Is the donation process completed or not?
Say, a request came up, and you made the donation but, you’re worried about various matters like the escrow value, the donation is accepted or not, whether the donation is done to the right person or not, etc. The limitations or the constraints got its solution, and the plan gets a "trust" sign. The business will also gain the required fuel to maximize its opportunities by building up an open network.
MLM in E-commerce-Analysis of the present system!
The present system works well with an MLM plan; you start an e-commerce business with products and vendors. The products are added up on the website, and through referral marketing, the products are sold with commissions. Referral links are provided for users, and if someone buys a product by clicking this link, the commissions will be paid. And the payment part, the admin has to approve each and every step like made the payment, shipment is done or not, dispatched status, etc.
The admin or the back-office panel has a pile of work to complete for each deal or product sale. As the supply chain depends on the MLM industry or network marketing is a part of the supply chain management, everything is interrelated and proposed model includes every stage of business. From the referral side to that of the complete payment status, blockchain keeps everything aligned.
E-commerce in blockchain – A transforming model!
The value of the tokens gets hype in the future and s/he can sell it for the best. Trading, exchange, investment, etc. are always the best option to propose in the system.
If the shipping part is implemented using blockchain then, everything will be organized easily. Currently, the tracking system uses a third party application, and in times it may be a bit of distress. There are possibilities like,
Buyers lost their tracking point or a stationary hub point result.
Incorrect packing of the product.
The product gets mixed up or lost in traffic/rush.
Delays in the shipping during its passage.
Tracking number errors or any misleading facts.
Human error or malpractices in between shipping etc.
These issues cause a lot of confusion in the buyer’s mind, and loss of trust is the result of such actions. If it's open and transparent then, the system gets the maximum potential. The tracking must be open, and this part has its role in the MLM industry. E-commerce follows affiliate programs from the old times itself, and it causes a buzz in the business world. Every popular e-commerce platforms follow or inhibit such schemes alongside with normal “pick and buy” option.
With such similar MLM programs in blockchain network, the sales and marketing will boost up easily. Well, blockchain does have the impact on the marketing plans too.
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