MLM or Multi Level Marketing software is an affiliate marketing tool. The software helps the admin users manage the network, its users, and the compensation plan. It also provides end users access to their network status and income. They can manage the referrals and payouts through the software.
Many enterprises are using MLM software to keep track of their business performance, their employee and associates, and the clients. The standard MLM software has many features that help enterprises enhance their business systems.
The software has been designed to be integrated with various other systems to suit the specific needs of the enterprise. MLM software can be customized on multiple levels, right from changing the design, theme, language of the system to changing managing the replication pages, reports, integrating e-wallets, e-pin, etc.
Business enterprises can get in touch with the service provider companies that help with the customization process. After having meetings to discuss and understand the requirements of the enterprises and the changes/ integrations that need to be done to the MLM software, the companies offer expert customization solutions and provide continuous technical support after the new customized software is developed.
For the MLM software to be successfully used by the enterprise, it is important to select the right kind of MLM Plan so that the software can accurately calculate and manage user information.
An MLM plan, also known as a compensation plan is an algorithm or a method of MLM (Multi Level Marketing), which defines how the commissions are calculated, divided, and how the referral system works.
Apart from the standard MLM Plans, enterprises can customize special MLM Plans by defining the commission and referral methods they follow in the business. The user accounts, commission, etc. can be managed in the backend by the admin user.
New modules can be added, additional services can be integrated into the MLM plan to help an enterprise manage and schedule the related things with ease. This enables enterprises to focus on the growth and development of the business.
Let us take a look at some of the most used MLM Plans.
- This is simple and the most popular MLM compensation plan in the market. It is also the Best MLM Software Plan that can be used by an enterprise.
- In the binary plan, every member is positioned in a binary tree structure. The new joiners are positioned as a right-sub tree and left-sub tree.
- The process continues with each member having two sub-trees which further branch into two and so on.
- Internet analytics say that this is the most favorite plan for many businesses. It is also known as Forced Matrix Plan.
- The plan has the form of 2*2, 3*5 matrix. This means that the system can grow up to 5 levels with 3 distributors at each level (for 3*5 matrix plan).
- The width of the matrix is fixed. It provides a smooth flow of work and allows easy integrations with e-commerce, payment gateways, and other software systems.
Board MLM Plan
- The board plan is also known as the Revolving Matrix Plan. This plan specializes in providing enterprises with the opportunities to capture the advantages that are a result of the members’ hard work.
- This is the newest plan in the industry and is fast gaining popularity in many countries across the world.
- The plan consists of either 3, 5, or 9 members. A member can get the commission as the board listings are accomplished. They are also eligible to get loyalty bonus, referral commission, and other income.
Generation MLM Plan
- This is regarded as the most effective plan in the industry. Even the startup business enterprises can opt for this best MLM software plan.
- Generation plan is a product-selling motivational plan in which each member helps his/ her down-the-line members in selling the products and gain incentives in return.
- Generation MLM Plan has various names such as Gap Commission Plans and Repurchase Plan. It is based on a profit-sharing business model.
Australian Binary MLM PLan
- Though not widely used, this is the easiest plan to understand and implement. This plan is a continuation of the American Binary MLM plan.
- In this plan, the member has to recruit a new member as his/ her left or right sub-branch-member. A third leg is also required even though it does not need any matching pair for a commission.
- Parallel legs can be built on either side using this Tri-Binary system.
The 24*7 technical support and easy to use interface makes the cloud MLM business software a preferred business system. By carefully choosing the custom integrations and MLM compensation plans, an enterprise can stay ahead of its competitors in the market.