MLM stands for Multi-level Marketing. MLM is a platform where everyone can earn extra income while doing their regular job or work. MLM is growing faster as it is considered the pillar of marketing even in today’s digital world.
What are MLM Plans?
MLM Program helps businesses grow their value by increasing the number of their consumers. Why most companies choose MLM Programs for their marketing is they give opportunities to every single person to earn money. A successful MLM Program runs by choosing the right MLM Plan.
MLM Plans or Multi-level Compensation Plans are compensation plans used in the network marketing industry. MLM Plans vary from business to business. A network marketing company has to choose the suitable MLMmpensation Plan to kickstart the marketing.
MLM Compensation Plans focus on distributors, their income, their selles, their referrals, etc. MLM Companies have to work according to the MLM Plan they selected. With new businesses and opportunities, we have different types of MLM Compensation Plans to suit the business needs.
How does MLM Plan Work?
Multi-level Marketing Companies are expert marketers that sell their products and services through the person-to-person model. You too can become a part of an MLM company to earn extra income. All you have to do is just recommend the products offered by MLM company and earn a margin profit from the sales you make.
The MLM companies manage the data of the distributors, their compensation, and all the other details via MLM Software of the preferred MLM Plan. MLM Software has revolutionized the entire Multi-level Marketing Industry as it has simplified the way how this model works for others.
Interestingly, MLM Software providers now offer a free demo period to test out the software and its features. Most enterprises get confused when it comes to choosing the right MLM Plan as there are different types of MLM Compensation Plans designed for different types of industries.
MLM Software providers can help enterprises learn how to use the software, how to add new distributors, how to give access to distributors to view their sales, how to generate compensation reports, and much more.
There’s a special MLM Software solution for each plan you choose for your company. Global MLM Software is a reliable MLM software provider offering a range of MLM software solutions for different MLM industries. One can get a suitable solution from their range to streamline their business model.
The best thing about Global MLM Solution is that they provide a superior user experience with full flexibility of using their services. The MLM software can be easily integrated to expand the company’s portfolio and many other useful features are there to boost the productivity of the company.
To choose the best MLM Plan for your network marketing business, you need to know about the different MLM compensation plans available in the industry. And how you can utilize that plan by using the MLM Software.
The popular MLM compensation plans listed below are easy to understand and fit well with your current network marketing business.
We have provided all the details about each MLM compensation plan which can help you decide the right MLM Plan.
Irrespective of your business field and industry, you can get a reliable MLM Software Solution from Global MLM Software to kickstart your MLM Business. Let’s check out the different MLM Plans available in the industry first!
Popular MLM Compensation Plans
1. Uni-level MLM Compensation Plan
Uni-level MLM Compensation Plan is the most basic MLM plan. It allows you to qualify new distributors in one line. This plan gives distributors incentives, bonuses, and rewards after achieving the set milestone. A distributor can recruit an unlimited number of other distributors in the line to earn extra income.
To manage the Uni-level MLM Compensation Plan, Unilevel Plan Compensation Software is available. This software manages everything including the distributor’s information and their earnings.
2. Binary MLM Compensation Plan
The Binary MLM Compensation Plan is a widely accepted MLM plan due to its flexibility and simplicity. Most industries prefer to choose this plan for their MLM business. If you have ever explored the MLM industry, then you probably know about this plan which has a two-leg system.
The Binary MLM Compensation Plan is also known as the right and left leg system where you recruit distributors to both the legs one by one. The compensation and incentives depend upon how you recruit the distributors to your legs.
To manage the Binary MLM Compensation Plan, Binary Plan MLM Software is available. The software distributes its network to two people. The first level joining will have two networks i.e. right leg and left leg.
3. Matrix MLM Compensation Plan
The Matrix MLM Compensation Plan is also known as Ladder Plan. The downline of the distributor has a fixed width and depth. The process includes only limited recruiters as it is fixed.
For the width front, only three members can qualify. This process can earn benefits up to five levels to the distributors. This plan has a fixed width and for that reason, the upline has to add more sales than the downline. The distributor can even set the bonus level to encourage recruiters to generate more sales.
To manage the Matrix MLM Compensation Plan, Matrix Plan MLM Software is available. This organized plan is a good fit for enterprises of all sizes and different industries.
4. Board Plan MLM Compensation Plan
The Board Plan MLM Compensation Plan includes a team of distributors to marketize their services and products. The plan is managed by the board i.e. the team of recruiters. Once the board is completed, this compensation plan can be split into a new board and the new board fill in like the previous one.
Every board can earn incentives and bonuses and the recruiters can level up their boards one by one to earn more rewards within this compensation plan.
To manage The Board Plan MLM Compensation Plan, The Board Plan MLM Software is available. This plan is designed for enterprises to focus on the improvement of sales and the company’s business model.
5. Single Leg MLM Compensation Plan
The Single Leg MLM Compensation Plan is designed for enterprises of all sizes. This compensation plan is currently the most trending plan in the MLM industry. Single Leg MLM compensation plan follows a simple process where distributors can recruit new recruiters to the company in a single line i.e. single leg. There is no tree or multi-leg for recruiting and joining new members.
To manage the Single Leg MLM Compensation Plan, the Single Leg Plan MLM Software is available. The software is designed to streamline the entire MLM business for a company. It generates daily reports, compensation information, and updates all the other information automatically.
6. Gift Plan MLM Compensation Plan
The Gift Plan MLM Compensation Plan is used by charitable trusts and NGOs. It is based on the giving and takes policy where one network and its distributors and recruiters help other network’s distributors and recruiters. They achieve their goals by recommending them to each other.
To manage the Gift Plan MLM Compensation Plan, Gift Plan MLM Software is available. This software is designed to revolutionize the network marketing industry.
7. Ads MLM Compensation Plan
The Ads MLM compensation plan allows distributors to earn a side income by publishing ads offered by advertisers by completing a short survey. You might have seen such a program while using the web where you would be asked to take part in a survey. The Ads MLM software works that way.
To manage the Ads MLM Compensation Plan, Ads MLM Software is available. An established company shares a part of the income generated from advertisers to their distributors. Ads MLM Software provides an opportunity of less working with high earning. The software updates information about the distributor’s work and his earnings automatically. Marketers also have started using such software to marketize the products of their clients.
8. Crypto MLM Compensation Plan
The Crypto MLM Compensation Plan is for the new generation of investors. The cryptocurrency market is highly competitive. We have different types of cryptocurrencies present in the market.
If you want to marketize your cryptocurrency, then Crypto MLM Software is the right option for you. In today’s digital market, people use digital currencies to purchase things online or transfer digital currencies from one platform to other.
The Crypto MLM Software allows users to expand their crypto network who will marketize their crypto coins and in return, they can earn commission through referrals. The distributor’s data and other information will be updated automatically by the software itself.
9. Custom and Hybrid MLM Compensation Plan
The Custom and Hybrid MLM Compensation Plan works on a combination of two powerful MLM compensation plans. If a company wants to establish two different types of compensation plans in its program, then it can use the Custom and Hybrid MLM Software.
The software allows the administrator to customise the existing plan by utilising powerful compensation plans. The extra outfits from the two compensation plans will be removed to make it feature-rich and trackable. This plan gives better compensations with extra bonuses to distributors.
These are the main Compensation Plans that most enterprises avail from the MLM Software Company or MLM Software Distributor. Besides this, there is other software also available to manage other compensation plans within the MLM industries.
A reliable MLM Compensation Plan can help your company achieve the desired goals. The plan you choose should also provide the right incentives and rewards to all the distributors who are distributing in your company and working as an independent distributor.
Follow the list of the available compensation plan, get useful information about each plan, study the plan well and compare it with your current business model. This is how you can choose the right MLM Plan for your network marketing company/ business.