Covid-19 has struck every sector of the global economy. As businesses and industries world over continue to reel under the ongoing pandemic and its aftermath, it’s important to analyse the unprecedented circumstances we’ve all had to deal with. A majority of sectors have and continue to witness massive layoffs due to sales hitting rock bottom and declining revenues. It’s only natural that people have gravitated towards alternate revenue streams that come with relatively low initial investments. One such being direct selling.
Recent reports by the World Federation of Direct Selling Associations (WFDSA) highlight that the Indian direct selling industry has recorded sales of USD 2.47 billion (in 2019) reporting a growth of 12.1%. This has helped the sector improve its ranking to the 15th from the earlier 19th a year before, stated the report. The US is leading in the list, contributing 20% of the global direct selling industry with sales of USD 35.21 billion, though it has registered a marginal de-growth of 0.4%. It is followed by China with a 13% contribution, Korea and Germany with 10% each and 9% by Japan.
So what makes direct selling a lucrative business idea? Firstly, with work-from-home being the new norm and job security at an all-time high, direct selling allows you to be your own boss. Secondly, there is zero to very little initial investment which is perfect for a pandemic-hit economy where everyone’s savings are depleting. Thirdly, India is undergoing a digital transformation and direct selling has proven to be extremely beneficial for several millennials, young entrepreneurs and students fresh out of college.
Now that you know why direct selling makes for a perfect career opportunity, here are a few tips to get you a headstart in the industry:
Read up on the industry: Learn about the industry, top players and check on where you can put your strengths to use. Find a company that retails a wide range of products. Don’t forget to do your due diligence and always check out the payment/income plans they have to offer.
Identify your potential customers: You need to look at everyone - friends, families, colleagues - as potential customers. This works in your favour as you don’t need prior work experience as you’re working with people in your known circle. Only by targeting your marketing efforts at them will you achieve greater success.
Be disciplined: Every career, especially direct selling, requires employees to be self-disciplined. It always helps if you set aside specific work hours every week and stick to it. Curate lists, schedule calls and see how a well-rounded routine helps you get ahead in direct selling.
Have a daily action plan: Every business, big or small, requires their products and services marketed well for optimum reach. Similarly, in direct selling, you need to get the word out about your offerings on a regular basis and this can be done if you have a daily action plan in place. It’s always better to have a structured work day as this helps in executing plans faster and more effectively. This will not only expand the circle of your target market, but generate new customers and recruits for your channel.
Stand out from the rest: One of the key challenges direct selling poses is that there might be many similar sellers in your vicinity. So how do you remain on par? You don’t. Instead, find ways to stand out from the crowd and carve your niche. Developing key trademark business qualities and skills to understand products and market them better is important.
Don’t forget to follow up: Constant reminders, texts and calls to potential customers will take you far in the game but remember to not overdo it. While it is good to follow up, ensure you make the sale at a later date. Even if a client isn’t keen on a sale, strike up a dialogue and keep the conversation going. If not now, they could turn clients a few months down the line. These tips will definitely help up your game and get you noticed among prospective customers and recruiters.
So if you’re someone who has been in the field for a while or is just starting off in the industry, these tips may ensure a successful and enjoyable journey into the world of Direct Selling.