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Synopsis
Energy services are gaining a higher pace with the number of complex challenges that the world is facing today in the context of sustainability, innovation, and economic development. From promoting renewable energy sources like solar, wind, hydro, and geothermal energies to encouraging sustainability by adopting efficient energy technologies, energy services are the major pillars that contribute to mitigating climate change and thus diminishing the environmental impact.
Energy services business must be capable of driving innovations to empower customers and intensify energy security by broadening energy sources. Failing to adapt to changing innovations would severely impact not only on the growth of the business, but also on every other factor complementing growth such as customer satisfaction, distributor engagement etc.
Problem
In today’s world where sustainability is not an option but a necessity, energy services businesses are key drivers that enhance energy security and contribute to fostering a more sustainable and resilient energy future for the generations of tomorrow.
Lack of a comprehensive framework reflected in driving innovation and keeping up with changing customer preferences
An MLM energy services business with a successful track record fell into a stagnant pit unable to accelerate towards growth or progress. The reason: Unable to keep up with evolving customer preferences, stay in compliance with changing regulatory mandates, the complexity of managing and tracking energy trades, and a series of other challenges that came with it.
Solution
For a business to tackle growth challenges, it is important to be aware of the risks involved in it. With numerous competitors venturing into the sector, our client found it difficult to differentiate themselves in the market.
Epixel MLM Software did a thorough analysis to find out what the business is lacking, despite its robust architecture and, found out that our customer has put innovative and advanced front-end technologies in the back burner which reflected on the brand’s delayed growth and development.
Extensive market research
With numerous competitors offering similar services, the energy services industry has become saturated, which has made it difficult for our clients to set themselves apart in the market. This was eventually reflected in decision-making, product diversification, and the brand credibility itself. Investing in advanced market research came in as a game changer with analytics delivering deeper insights into changing customer preferences, behavior, market trends, and competitor strategies.
The feature also helped the business to run surveys to gain feedback and responses that helped invent fresher strategies in aid of business growth and expansions. Moreover, gaining a global perspective is imperative for a business with incredible growth opportunities. An in-depth market research helped forecast wavering trends in the market, identify new markets, and region-specific interests, target specific market areas, and analyze global patterns to stay at the business forefront.
The brand could also accelerate growth by staying at par with competitor performances, identifying key market players, gauging gaps, and implementing improved growth strategies. With data acquired during the business, the brand also kept a close watch on how various sociopolitical, economic, and legal factors could impact the business and stay ahead of competitions and evolving needs of target audience.
Energy trading management
A robust compensation management is a crucial component that can streamline commissions and calculations, distributor incentives, and bonuses to ensure accuracy and transparency. Considering the complexities involved in tracking trades, handling transactions, and trade validations, an MLM compensation plan management system was seeped into the framework which helped to efficiently handle trading commissions for distributors based on the volume or value of the energy commodities traded.
In the same way, downline bonuses, leadership bonuses for distributors who demonstrated leadership by mentoring successful trading teams, rank advancement bonuses, residual income based on trading activities of downlines, performance-based incentives etc, helped encourage distributors to improve their performances, bring in new members and achieve their goals.
Devising an accurate, transparent, and fair energy trading management plan helped motivate distributors and thus improve sales performance.
Automated workflow
Businesses small or big gain traction when each of its transactions is efficiently streamlined. In the case of energy services, automating workflow enhances every transaction from trading to billing with utmost accuracy and compliance.
Integrating automated workflow helped the business streamline repetitive tasks such as order processing, customer onboarding, payment processing etc. which helped reduce manual intervention and thus expedite processes with improved efficiency. Automated workflows also made it easy to adapt to changes with varying business volume and scale. With the growing needs of the business, automated processing could be helpful to handle increased demands without having to recruit extra manpower letting the business scale swiftly. The feature also helped save costs by lowering manual labor and letting the business reallocate resources to more strategic initiatives or invest in growth opportunities.
Enhanced customer engagement
A comprehensive MLM CRM system is a crucial element for an MLM energy business to centralize customer data, track interactions and personalize communication with customers and distributors.
A well implemented CRM system helped manage leads by thoroughly tracking interactions, segmenting leads based on which level they are in, in the sales funnel, and automating follow-ups. CRM came to the brand’s rescue to help visualize sales pipelines, track business opportunities, and keep an eye on the progress of the leads at every stage of the sales process. This helped the brand optimize their conversion rate by forecasting sales and identifying bottlenecks.
The analytics and reporting tools that the CRM system offers were put to good use to track key performance indicators (KPIs) and thus identify key areas for improvement and derive data-driven decisions.
Integrating CRM into the business enhanced customer and distributor engagement, fostering loyalty and improved overall customer satisfaction.
Content management system
Facilitating consistent branding was the next key assignment. For this, we integrated a centralized content management system to streamline the creation, distribution and management of marketing and training materials, and promotional content. An intuitive interface made it easy for admin and distributors to navigate easily. For an MLM energy business that is operating in various countries and regions, multilingual support is inevitable. CMS helps support numerous languages to cater to a wider audience and facilitate content localization.
In order to track user engagement, content performance, and conversion metrics analytics tools were also integrated. This further gave insights into what type of content resonated the most with the audience to help optimize content strategies for the future. A precise CMS tailored to cater to the needs of an MLM energy services business helped the brand manage and leverage content to support sales, marketing, training and engagement effectively.
Challenges Faced
While we focused on giving the MLM energy services business an ultimate drift with a comprehensive backing integrating latest functionalities, distributors with low morale were one hurdle which took us extra hours to cross. The frustration caused by complex payout processes was the prime reason and it had heavily impacted on the distributor retention rates.
Automating payout processes with multiple payout options was the first glitch to be rectified. Including electronic transfers, prepaid cards and crypto payments helped eliminate payout hassles, reduce administrative burden and improved distributor satisfaction. This eased further processes with a highly motivated distributor base easing out the whole course of business reinforcement and growth.
Expected Results
Increased sales
22%
Higher distributor retention rate
36%
More satisfied customers
24%
Lesser compliance issues
19%
More efficient commission tracking
41%
Lesser turnaround time
17%
Faster global expansion
29%
Increased sales
14%
Higher distributor retention rate
21%
More satisfied customers
19%
Lesser compliance issues
19%
More efficient commission tracking
41%
Lesser turnaround time
17%
Faster global expansion
29%
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