The direct selling industry is about to hit a critical moment in its evolution. Because, like it or not, the world of independent employment is changing rapidly. New economy companies, like Uber, Lyft, TaskRabbit, and Upwork, are challenging direct sellers for their human resources, attracting young, eager, independent workers in record numbers. Thankfully, advances in technology and improvements to commission payments platforms are making it easier for direct selling companies to adapt and provide their workforce with cutting-edge field tools.
2. For more than 15 years, Hyperwallet has worked with direct selling companies
to build a better commission distribution process. Over that time, we’ve had
the pleasure of watching and participating in this industry’s growth—and,
through our experiences, we’ve developed a comprehensive understanding of
direct selling organizations’ everyday concerns.
3. Source: McKinsey Global Institute: A Labor Market That Works:
Connecting Talent With Opportunity In The Digital Age June 2015
WORKERS ARE CHANGING
TOO
In five years over 40 percent of the
American workforce will have
uncertain work; in a decade, most
of us.
Increasingly, businesses need only a
relatively small pool of "talent"
anchored in the enterprise…
Everyone else is becoming fungible,
sought only for their reliability and
low cost.
3
4. A SIMPLE WAY TO EXPLAIN OUR STRATEGY
FI Infrastructure
and Compliance
Employers
App Economy and
Digital Identity
Global
Workforce
In a world where
• Talent is increasingly independent
• Businesses are increasingly global
• Mobility connects us all
But
• Regulated, legacy bank infrastructure has
yet to streamline global solutions to pay a
global workforce…
H YPERWAL L ET IS TH E FIR ST GL OBAL, MOBILE, VIRTU AL C AR D AN D
BAN K N ETW OR K
5. How can we overcome the new challenges of the digital era?
6. Checks, PayPal
Confusing Comp Plans
Lack of transparency
Industry Reputation
Not IT savvy
In-house everything
Old Messaging
Payment choice
Recruitment tools
Brand promise
Understands 1099 worker
Engage social media
Transparency
Mobile first
New Way
Old Way
7. #1. Do You Have a Social Media Recruitment Strategy?
10. Key Measures
Company News
Qualifications
Next Steps
Income Smoothing
Commissions
New Members
Deductions
Business Account
Balance: $2300.00
API’s keep your distributors on your site, but let your business procure and integrate services from third parties.
Home MyBusiness My Communications MyTraining
12. Traditional Training Methods: 8 Days
Social eLearning: 3 Days
• Always on Learning with
Mobile
• Real-time mentoring and
support
• Direct author-reader
engagement
• Interactive Validation
• Personalized learning paths
Value Drivers 1. Time Savings: Fast time to achieve
2. Lower Risk: Full audit of learners
certifications
3. Lower Cost: Reduced cost of production,
delivery and verification
4. All-digital delivery: Eliminates travel,
printed material
5. Time to Market: Faster launch of new
products
6. Scalable
5 Day Cycle Time Gain
14. Digitization of Marketing
1994 2004 2011 2015 2020
Facebook launched in
2004, First Tweet in 2005
First Ever Banner
Display Ad
Start of Brand
promotions on
Facebook.
Targeted, Measurable,
Interactive Marketing using
digital technologies
Content
Exchange with
Federated Data
15. #5. Do You Have a Modern Commission Distribution Process?
16. OFFER CHOICE
Put distributors in control
of their earnings.
Give your distributors the power to collect their earnings in
a manner that’s most convenient to them.
Cash Via Agent Check Delivery
Payment
to existing Debit
or Credit Card
Global Bank
Account Deposit
Corporate-branded
Prepaid Cards
Virtual
Prepaid Cards
Pay Underbanked Pay Instantly Conventional
Local Bank with
No Wire Fees
Number easily
accessible
One-time,
Instant, Global
16
17. #6. Have You Integrated a Comprehensive Mobile Strategy?
19. #7. Are you Building Retention with Digital Field Support Tools?
20. Flexible and bit sized
pieces, and continually
refreshed
Training
Corporate Branded Prepaid Cards
create the mechanism for
supporting the distributor with
financial tools to build their business
Business
Account
Using the Prepaid card you
can now incentivize distributor
behavior and reward them
Loyalty and Incentives Tax Services
Expense
Management
Income
Smoothing
Assist in reporting and filing
W9/W8-BEN
Assist in Tracking business
expenses and predicting Tax
requirements and deductions
Ability for Payee to create
predictability in their take-
home pay, secured by access
to their income for HW
23. Top
Tips6
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1. Card First – Creates the business
account and data necessary to drive
retention – loyalty and ancillary
services
2. Mobile First
3. Additional Capability that appeal to
the Millennial distributor –
Donations and Recruitment
Incentives
4. Transparency of compensation plan.
5. Unparalleled Training and Support
6. Don’t let the old timers make all the
important decisions.