By: Stephanie Ramirez
“Before COVID-19, we were a very physical company. We had a physical salesforce, and they did things in person. The challenge was to come up with a virtual way of work that was sustainable and enjoyable.”
—Clint McKinlay, CEO, Ruby Ribbon
“We don’t like people selling to their warm markets. We try to get them not to do it. We want them to see themselves as businesspeople who own a digital marketing company.”
—Laura Hunter, CEO, Tori Belle Cosmetics
The pandemic crisis has forced individuals and companies to rapidly change how they live and work. A few months ago, most in the channel were traveling to meet business colleagues, attending large group events and shaking hands with customers. It is a new frontier, and the old way of doing things is no longer relevant. In some cases, it’s not even possible.
By: David Bland
“To successfully confront the fraudsters and opportunists requires new weapons to exhaust and overwhelm them.”
—Trajan Bayly, CEO, Gray Falkon
“Over the years, we’ve watched this problem grow exponentially. Direct sellers really struggle with it because it kills enthusiasm in the field. But it’s not going anywhere, and companies need to stay on top of it if they want to thrive.”
—Jonathan Gilliam, CEO, Momentum Factor
Led by Amazon, the explosive growth of the global online marketplace has completely reshaped commerce over the past few decades. These vast new virtual storefronts have brought with them a serious threat to both online and offline direct sales: the unauthorized seller.
By: Camille Barlow
“If you don’t pay people quickly enough, and they find they’re being paid quicker by another company, they’re going to leave.”
—Natalia Yenatska, Chief Operations Officer, i-Payout
Since its inception, the direct selling channel has prided itself on bucking convention. From introducing the gamechanger of residual income to openly eschewing the traditional 9-to-5 workday, direct selling companies have aimed to divert from the norm.
By: Stephanie Ramirez
Going global isn’t easy. It’s complicated, and it comes with hurdles, especially as businesses are also navigating the normal growing pains of scaling up. Additionally, every country has its own local laws, cultural norms, forms of currency and payment, unique business practices and language differences.
By: Camille Barlow
In 2009, Apple debuted a new slogan: “There’s an app for that.”
As usual, the tech giant was on to something, and 11 years later that catchy little earworm is not only safely trademarked, it’s a post-modern truism. For virtually anything you want to do these days—from the personal to the professional and everything in between—chances are you can find an app to make it happen.
By: John Sanders, Katrina Eash and Rebecca Loegering from Winston & Strawn
Ensuring that compliance permeates all aspects of a business’s operation will certainly serve the long-term interests of a company by keeping it off the radar of regulators.
Editor’s Note: The attorneys at Winston & Strawn have provided answers to the most common questions they’ve been asked about direct selling business practices by their clients during the COVID-19 pandemic. In the article below they share their insights and opinions.
By David Bland
The start of this new decade presents a fresh opportunity to reconsider the value of demographic-based business modeling, and point out the worth of including the less tangible, but potentially more powerful, psychographic metrics. Demographics relate facts such as age, gender, employment status, annual income and family size. Psychographics, on the other hand, reveal more complex data points such as attitudes, interests, lifestyle choices and values.
By Stephanie Ramirez
Finding regularities, patterns and trends in massive amounts of seemingly unrelated data is a strength of AI and machine learning.
Artificial intelligence (AI) used with machine learning and other automated applications has found its way into almost every industry, including direct selling. Data analysis tools built with AI technology can provide forecasting, predict future customer and distributor behavior, provide restocking and supply chain levels, target campaigns with extreme personalization, create enhanced distributor and customer journeys, and even monitor the brand.