Marketing and seem to be the soul of business. The success of a business depends on the marketing strategy of the business. Scope of Network Marketing and its future trends are too bright.
From Blue-chip Company to small sectors like SME, every the company is surviving due to marketing.
Network Marketing & its Recent Trends
The marketing has made India’s market size to be around 1.8 trillion US $. Marketing is driving force today. The definition of marketing and its scope is evolved with the passage of time. The currently we are in the phase of digital marketing. From needles to home and home appliances, everything is embedded in e-content.
Digital marketing is the outcome of the IT revolution and innovative practices in marketing. Digital marketing is using data analytics and artificial intelligence in sorting potential customers for the product.
Trends in India
So can be done with network –marketing. In India, the scope of network marketing is forecasted to be wide. A recent, it is in the traditional phase.
Sometimes it’s better to have network marketing in its original aspect for some of the products where a meeting is held of a prospective marketer with an expert’s talk.
These experts belong to the same brand on a majoritarian basis that convinces attendee with their previous experience and of their own revenue model. The Network-marketing has crossed over UD 167 billion and is forecasted to touch ₹645 billion by 2025.
They are dealing mainly in Health, cosmetics, personal care sectors. So it has a strong future prospect provided it should be scaled up with a good action plan.
Digital outlook of Network Marketing and Future Trends
I am in favour to use analytics in Network marketing. The world has got transformed with the use of digital technology. So network marketing should be digitised.
It could be a topic of research for tech-preneur to scale up a network marketing business in the integration of digital tools but if these tools are exploited, success is next to the door.
One such a beginning I have witnessed with an application named ‘भारत की दुकान’.It runs on principles of chain building. The recipient of the link of such application, if connect to link and install the application on his mobile or any other supportive device.
Get a certain amount of money along with sender of links also. The process of sharing and making the chain of application users go on.
This application is also useful in solving the problem of utility payments to grocery and apparel needs. So it’s the beginning of digital MLM.
It will take the business to a new height if it is scaled with the needs of people. So the Tech-preneurs of the country will have to take charge of commitment needs to revolutionize the MLM in the advent of digital tools.
Like another successful digitization process of business, Technology has to define the problem area of business and then introduce a solution.
I am sure with a prediction that future is bright for network marketing if it’s the seed sown and cultivated digitally.
It will provide a large number of employment and scale up a campaign of the Modi government to take poverty at its low level. It will be easily accessible to consumers.
The network marketer should incentivise the participants with a lucrative revenue model and keep making innovation until it is a supermodel.