In our previous article, Online education : MLM Product Information, we have seen what Online education product is, how it works, things this product contains and how MLM companies can take advantage of this product.
In this article, we will see what are the PROs and CONs of having this product in your MLM company.
PROs of Online education product :
- MLM companies can provide this product to each and every member spontaneously, as soon as they sign up for the product. They won’t have to courier the product to members or to follow any special procedure to make product available to their members.
- Online education makes business hassle free for MLM companies because this product only requires one time setup and it can be completely automated. MLM company won’t have to worry about producing product again and again or to provide it to the users because it will be available to all the users or members on internet.
- Unlike other products, online education is a product which is available on internet. MLM companies can provide this product to its members for lifetime instead of just one time use, by charging money from them just once. This builds trust factor for company among its members and reputation in the market.
- As the product is available on internet with end to end services and MLM companies don’t have to worry about making it available to members, MLM company can grow its business by focusing on core business of the company instead of providing service of the product to members.
- Online education is the product in which only one time investment is required. The only investment MLM companies will have to do is the investment while setting up the online education system first time. Once it set up, MLM companies can sell its access to as many members as they want, without any extra charge.They will have to just pay nominal annual maintenance charges to their service provider. This way, MLM companies can earn more profits as compared to profit they make on physical products.
- Online education is the product of today’s generation. So MLM companies can present it in more effective way than other products, resulting into more sales and more profit for the company.
- Online education is the product of necessary, not a product of luxury unlike some other product like holiday voucher etc. So MLM companies can easily sell this product as people are already have need of it.
- Online education product is the need of people of any age, people from any profession and people from any place. So MLM companies can target more wide market than other MLM products available in the market.
- In traditional market, Online education is the product which possess high value. By providing online education, MLM companies can show that they are providing value for money to their members.
CONs of having Online education product in your MLM company :
- In the market, there are some service providers who provides content copied from somewhere else, which is not designed and developed entirely by them. They just edited the already available content wherever needed and started providing it to MLM companies. These service provider surely won’t have copyright to the content they are providing or the legal content selling rights. If MLM company provides this type of content to their members, it can harm reputation as well as business of the company. MLM company may have to face legal issues related to the product they are providing.
- Besides copied content, there are also some service provider who provides content which is duplicate, which don;t have any value, which can’t be useful to the members of the company. For example, only text in the name of online education where users will have to learn by reading text on the website of the company. If MLM company provide this type of content in the name of online education, it can’t satisfy expectations of its members which will harm company’s trust factor and business.
- Though online education is the most reliable MLM product today, not presenting online education in an effective way can not help member of the company close the sell. But this is something which can be solved through the help of the service provider. If service provider is genuine and they have designed all the content themselves, surely they will provide you materials to promote online education very effectively.
- If MLM company is providing online education content which is already available in free through some other medium, MLM company can lose trust of the members and it can harm its business.
Hope this article will help you in deciding that online education is the most suitable and best fit product for your MLM company. Hope you will consider all the PROs and CONs and choose the best service provider from the market who believes in providing value content than just showing off the non-value content.