As we have discussed in our previous article, Guide to enhance existing MLM business with Online Education, by adapting Online education product, new age MLM companies are becoming successful in less time as compared to MLM companies with old age physical products. Guessing which these companies are? Here we are with multiple case studies of companies with Online education product. Let’s have a look at these case studies.
MLM Companies who started selling Online education as a product :
In year 2000, Dew soft overseas Pvt. Ltd and in year 2001, e-biz.com Pvt. ltd has started their operations in India and they started by providing web-space in the time where having even a small website is luxury for any company. Then they came up with a concept of online education as a product in MLM industry and the important thing to note is both of these companies came up with a same concept in a different way.
Dew soft overseas Pvt. Ltd was targeting the customers on basis of its offline computer centers as well as online content of text. In which they started adding videos of some topics gradually. E-biz have been targeting customers on basis of its online content of text (later on, they also started adding videos as well) and DVDs of some courses. Both companies were providing content regarding computer education and why both companies were providing it is the interesting thing to understand.
From year 2004 on wards, computer became a hot thing for people. People started realizing that it’s technology of future and very few sources were available in the market which can teach people what to use and how to use. In general, MLM Companies need a product which is mass appealing, which they can sell all across the country and computer education is the thing because technology is the same in every part of the country or world, it doesn’t change like the syllabus of state boards.
Why they became successful in generating so many sales?
Dew soft overseas Pvt. Ltd and e-biz.com Pvt. Ltd both were working on virtual product concept which is still hard to understand for many people in MLM industry. They don’t have to manage any inventory: the delivery of the product is instant as people purchase their product or package. The product they started providing was very hot thing in the market and still there was not any company in India which was providing these much courses under one roof. Even today, there is no company which does that outside MLM industry. They were being able to differentiate themselves from other companies by showing their list of courses which makes them able enough to market their product by saying that they are providing very big value content in very nominal price. Their next step of introducing basics of courses in Hindi and Utilities in English was the fuel which accelerated no. of sales of their product because it’s something which makes the concept and product more attached to common man of India.
In terms of business plan, both companies were having a binary business plan in which amount of commission was big and the frequency was fast compared to other physical product providing MLM Companies. So people who were not happy with generation plan, started working in these binary plans.
In terms of targeted market, both companies were approaching students especially teenagers which were targeted by very less companies and their numbers in population keep increasing so they got exposure of young and energetic students who are very ambitious and not afraid to do dedicated hard work to fulfill their dreams.
Their business system was also one of the biggest reasons behind their success in sales and the way they developed and managed it was one of the biggest challenges, which they handled very successfully.
In which area they were lacking?
After 2006 the biggest problem with both of these companies, Dew soft overseas Pvt. Ltd and e-biz.com Pvt. Ltd, was that they failed to update their content and content delivery system with time and with growth of internet industry in India. When they started updating a little, they were already late. Market was full of better content delivery systems than they were providing at that time. And these were lesser in price as compared to these companies, or free. So they lost their monopoly in market and now they had only business plan to compete and attract users which also started becoming less attractive because many companies were arriving in market with better binary plan compensation model.
Gradually, they actually lost their core competency and their whole sales were on basis of motivation only.
How other people identified that and what they came up with?
As time passed and people started understanding what’s happening and what are the other possibilities, they just started to work out things on their own. People who were associated with both the companies (Dew soft overseas Pvt. Ltd and e-biz.com Pvt. Ltd) realized what people are actually looking for in online education product while they were working on field.
The core requirements, which could be demanded from people of India were as following :
- 100% Audio-visual content.
- Practical approach in content (Not history of technologies but how they can actually use the technologies.)
- Videos which loads fast online.
- Easy to understand accent in the videos.
- Nominal pricing,which can be afforded by people from every class in India.
- Dedicated support service regarding content.
- Mobile app
- Mobile responsive content delivery structure.
And then these people started their own companies with the mindset of delivering these features.
How they are changing things which were lacking?
They have started providing the required features we discussed above. Not only that, they started to market their product’s unique features as well instead of only business plan. They are now updating themselves with current market scenario and trying to implement in their product line as soon as possible.
Emerging big Players:
We have identified some of the emerging players of MLM Industry who identified core issues about the product and regularly updating themselves to be more competitive, attractive and responsive to their customers by solving those issues.
Here are some of the names:
- United Edupreneur Pvt. Ltd
- Hope Entrepreneurs Pvt. Ltd
- Vibrant India Retails Pvt. Ltd
- Team EX Retail Ltd.
- Innovator International Network
- YashOWin Marketing Pvt. Ltd
- Next Generation Deals India Pvt Ltd
- Biggie bizmkt Pvt Ltd
- Ignite Contriver Pvt Ltd
- AURA E Commerce Pvt Ltd
- VizHop Pvt Ltd
- Shri Jivanrekha Research & Marketing Ltd (Tradecom)
- Corevision Edupreneurs Pvt Ltd
How they are operating and changing MLM industry?
These new age MLM companies are working very hard to stay tuned with evolving market of online education in MLM Industry. They already updated themselves with the things which were lacking before as we discussed.
These companies are focusing equally on their product quality as well as their business plans and updating themselves regularly according to the needs.
What steps to take now?
Now it’s time for all the companies, regardless new or old, to update themselves to ensure their success with the industry changing very fast. Remember, updating yourself with time is the only way to survive in these fast changing industry. Either you change with time or make excuses and get vanished from industry.
If you have any questions, you can ask us.And to take a step towards updating yourself, opt Online education product for your MLM company. Ask us about it from Here.