Value-driven acquisition tools accelerate conversions for an investments MLM business

Synopsis

The investment services industry covers a wide range of services for helping individuals and organizations efficiently manage their financial assets. However, every so often these companies struggle to earn the trust and satisfaction of their customers. Despite delivering quality services, the investment companies are impacted by high inflation rates, instable geopolitical conditions, increasing interest rates and growing customer expectations.

While companies are sprinting toward implementing disruptive technologies to cope with this, compliance and security are often ignored or overlooked. Down the years, customer expectations have also evolved considerably around aspects of personalization and timelines of interactions. However, even amidst technological shifts, product innovations and exceptional customer experience remain as the leading drivers of growth.

The challenges of investment services businesses in the MLM industry are no different. Added to these recurring challenges, investment MLM businesses face challenges related to network management, agent training, and compensation plan management.

Problem

Market saturation and high agent turnover rates critically impacted the investment MLM business in acquiring new customers. Despite consistent efforts and utilizing various customer acquisition strategies, the company did not witness any improvement in its customer numbers.

Intensifying competition and high agent turnover rates severely impacted the customer acquisition rates of the investment MLM business.

Unable to withstand intensifying competition, agents were demotivated and backed out of the business resulting in soaring agent turnover rates. The company was struggling to establish its foothold amidst this crisis, and we were entrusted with the task of reviving the business with a potent technological solution.

Solution

The presented challenges and complexities involved necessitated the need for a holistic and tailored technological approach. Our industry experience in crafting tailored MLM software coupled with the expertise of a dynamic team, we drafted a solution that enhanced performance across various business aspects.

Focusing primarily on improving the customer acquisition rates for the company, our solution applied a strategic approach to agent empowerment through personalized training and advanced customer acquisition tools. This dual-focused approach helped us in creating immediate results in customer acquisition and cultivating long-term agent engagement, loyalty and ultimately sustainable business growth.

Lead generation system improves lead quality

Addressing the primary concern of customer acquisition necessitated implementing an advanced and tailored lead generation system. Once Ideal Customer Profiles (ICPs) are set, the lead generation system identifies potential leads and filters them into the sales funnel. Through lead scoring and segmentation techniques, the system categorizes leads based on their possibility for conversion.

The lead scoring mechanism assigns specific scores to leads based on the preset ICP, engagement level, demographics, and behavioral analysis. Agents can customize the process with lead forms that focus on collecting relevant data such as their financial capacity, interest in investment, type of services preferred and willingness to join the MLM network.

CRM integration to track interactions

The customer relationship management system was given complete control of tracking every interaction in the lead’s journey to conversion. Every email, call, chat, message or meeting was logged in to the CRM, so everyone in the loop gets a clear picture of the status of the lead in the sales funnel.

The role of CRM in creating positive customer experiences through personalized communications and real-time issue resolution spiked engagement rates and accelerated the customer acquisition process. The analytics and reporting features integrated into the CRM provided the business with actionable insights to make data-driven decisions and continuously optimize their customer acquisition strategy.

Personalized investment portfolios to align with customer goals and preferences

In order to meet the individual goals of customers, we helped the company create personalized portfolios that align with the investment preferences of each customer. The portfolio management system lets the business design a portfolio around the customer’s existing investments, financial goals, risk tolerance, or other personal preferences. This is done through comprehensive behavioral analytics that analyzes the individual investor’s spending habits and saving patterns. This made it easier for agents to recommend fitting investment programs and customers to manage their investments.

A customizable goal setting feature allowed investors to set specific financial goals and track their progress. All this, along with an interactive dashboard gave customers and agents a clear overview of their portfolios, performance metrics and goal progress. Personalized investment portfolios also focused on increasing customer engagement and likelihood of conversion by helping them achieve their financial goals more effectively.

Targeted marketing with a tailored approach

The marketing activities were closely monitored to identify the gaps and inefficiencies of the current system. Our approach combined audience segmentation, personalization and targeted communication. The marketing suite with innovative promotional tools, social media integrations and campaign managers helped agents actively connect with their target audience.

Structured follow-ups and on-time reminders helped them navigate customer disengagement caused by delayed communication. Interactive tools like surveys, quizzes, and polls collected customer feedback and preferences that helped the brand in creating personalized recommendations and engaging customers.

By rightly identifying their target audience, the business was able to deliver personalized and relevant content that resonated with their customers’ values, interests and investment preferences. Analytics and behavioral tracking tools gave them a clear picture of how to leverage the acquired insights to optimize their marketing strategies.

Comprehensive agent training for knowledge enhancement

Customers confide in agents who have excellent product knowledge. So, we began it from there. We devised a new agent training system that upskills, engages and supports agents throughout their sales conversion journey. Business admin can utilize the course templates to build courses on basic financial education, investment programs, sales and marketing techniques or compliance training.

Mandatory training sessions with goal completions, performance trackers to monitor training performance, and badges, leaderboards and certifications to acknowledge success were all integrated into the training system to empower agents achieve better results.

Compliance alignment to accelerate customer trust

The MLM platform has an automated compliance management system that aligns the business with every industry standard and regulatory policies. The system ensures that every process related to sales, marketing, payouts, customer interactions and network management is in line with the compliance requirements and ethical standards as set by the company.

The compliance management system focuses on protecting the company from legal risks and reassures customers that their investments and data are handled responsibly and securely.

Loyalty programs to maximize customer engagement

A real-time reward system ensures that customers are rewarded in real-time for their milestone achievements. The flexible loyalty program lets customers choose rewards of their preference from the list of rewards set by the company.

The reward system automatically credits points based on various criteria such as amount invested, tenure, referrals etc. Customers can view their points, reward status and progress towards their next achievable reward on the loyalty dashboard.

Challenges we faced

We were entrusted with a great responsibility to create a reliable solution on which the trust and sustainability of the brand was dependent. Tasked with developing a comprehensive solution for the investment MLM business, we encountered a range of challenges that tested our technical, strategic and operational capabilities.

MLM businesses cannot operate on a single rigid model. In the course of the business, their compensation structures change, business processes change, and the network numbers can vary drastically.

Developing a platform that can accommodate these variations while maintaining flexibility and scalability was a critical challenge. We had to ensure that our solution is customizable to any extent to meet the unique requirements of the investment MLM business.

Our prime objective of addressing customer acquisition challenges was resolved with an efficient set of customer acquisition tools. However, developing the tools to address the concerns unique to the investment MLM business was a considerable milestone to overcome. We had to gain an in-depth understanding of the market and its customers to help agents identify, engage and convert potential customers more effectively.

The training and support system had to be inclusive to accommodate diverse agent capacities. The varied learning curves and preferences among agents had to be considered to create a multi-faceted training program.