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How Can Young Entrepreneurs Thrive In The Network Marketing Industry? - Science/Technology - Nairaland

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How Can Young Entrepreneurs Thrive In The Network Marketing Industry? by epixelmlm: 11:25am On Apr 14, 2023
Direct selling businesses have grown in the past decade, and it's no surprise that millennials are taking up the opportunity to be entrepreneurs. Millennials, who grew up in a world where digital technology has always been at their fingertips, are finally going out into the workforce. They're able to use their unique skills to take on any business challenge thrown their way. As said, millennials have their unique skill set and their own perspective to see the challenges. This perspective of youngpreneurs in direct selling itself can benefit the direct sales business in various ways.

In the competitive market, it’s imperative to stay current with what works and what doesn't. This can be especially true in direct sales where transparency is essential to maintain customer loyalty and customer retention. In order for a direct sales company to have a successful long-term future, they need to be transparent. Transparency in direct selling includes the company should have an income disclosure statement which mentions all the compensation and payout structures of the company. This is a great method to attract more customers because an income disclosure statement is valid and follows all the rules and regulations.

In the ever-changing digital era, customer acquisition and retention has become an even more challenging task for direct selling organizations. However, innovative ideas have come up to keep customers engaged and loyal to a company. One of the ideas is the hyper-personalization of products and services according to customer interests and needs. The direct sales companies that went down this path found their sales enhancing as they were able to build strong emotional connections with their customers by giving them exactly what they wanted without being pushy about it.

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