Dhanesh:

Yeah, it was good. Getting back to our routines.

Minu:

Great to know that. I am excited to hear about your experience attending such a prestigious event as WFDSA World Congress.

So, let’s begin our interview formally. Hope you are doing great too, Noufal.

Noufal:

Very much, Minu. Looks like today is the perfect day to share our experience.

Minu:

Perfect! Participating in an international event like this must have been quite an experience. How will you describe that opportunity?

Dhanesh:

It was truly remarkable to be part of such a prestigious event. The Dubai DSA went above and beyond to ensure a seamless and enjoyable experience for all participants. We did not encounter any challenges, whatsoever, thanks to their extraordinary planning and execution!

Having the chance to engage with industry giants like Herbalife, NuSkin, and many others, alongside their founding leaders, was incredibly valuable. They generously shared insights into their vision, future strategies as well as the pain points and challenges they were facing in the industry.

This is the exact reason why we chose to attend the event; to gain a deeper understanding of the industry.

Minu:

Thanks for sharing your experience. Sounds like you have had an insightful experience attending the event.

How was yours Noufal?

Noufal:

It was truly enlightening and enriching. An incredible experience in fact! Connecting with major players from around the globe provided a fantastic opportunity to exchange ideas, perspectives, and gain insights on various business verticals.

Minu:

That’s wonderful! So, what were the key takeaways from the event that you found most valuable for Epixel?

Dhanesh:

The event discussed key distinctions between direct selling and MLM. Leaders are clear on this and have already begun formulating strategies and regulatory measures to curb the rise of pyramid and ponzi schemes.

Furthermore, a significant shift in focus was noted, with an emphasis now placed on prioritizing products rather than on recruitment. The recruitment culture is slowly giving way for customer-centric strategies and initiatives, signaling a renewed commitment to meeting needs and preferences of customers.

Minu:

It’s really encouraging to hear about the industry’s proactive approach to addressing challenges and prioritizing customers.

What other challenges are the industry facing currently?

Noufal:

The industry is fighting several challenges, notably in network management and salesforce engagement. As a business enthusiast, I strongly feel that companies require robust tools with comprehensive analytical capabilities to derive insights on key business areas and optimize their performance.

Our participation in the event made us realize the pressing need for the integration of advanced features within MLM software, such as predictive sales forecasting and other growth projection tools. Simulators like our MLM calculators, play a crucial role in offering businesses invaluable insights into their compensation plans and overall performance metrics. What we need is more tools like this.

Compliance management is another factor that is on high priority for direct selling businesses. Getting past the legal intricacies need proper support and guidance. This will ensure that the companies remain compliant with varying regulations while expanding in the global market.

Addressing these challenges with our expertise is what we are focusing on, right now!

Minu:

I completely agree on that, Noufal. Innovative solutions are crucial for addressing these concerns effectively.

Given this context, I’m curious to know, what measures are taken by popular direct selling brands to address these challenges?

Noufal:

Companies are adapting to emerging technologies to address these challenges. Brand building has also emerged as a pivotal factor, in the sense that, brands with strong identity can easily penetrate the market addressing concerns on customer acquisition and salesforce engagement efficiently. Influential brands are always a welcome in the market and strategic brand development initiatives can help brands cultivate a unique identity and resonate more effectively with their target audience.

Minu:

I couldn’t agree more. Now, over to you, Dhanesh.

Connecting with popular brands would have given you a fair idea of the strategies and techniques they adopt. So, tell us, how are popular brands capitalizing on innovation and technology leadership?

Dhanesh:

In the past, technology was not utilized to its fullest potential, mainly because not all distributors were experts in handling technology. Today, the scenario has changed completely with brands taking proactive steps to educate and train distributors on adopting new technologies effectively.

Through fast and comprehensive training programs, distributors gain a clear understanding of the organization’s goals and priorities. With a heightened emphasis on compliance and regulations, this training approach is considerably reducing instances of false earning claims helping businesses establish ethical business practices.

Top leaders within the industry are spearheading initiatives to implement futuristic technologies for the advancement of the direct selling industry. Technologies such as generative AI, blockchain, and Web3 are put on focus. These technology initiatives hold a promise to enhancing transparency and trust with the industry. As more and more research and development are dedicated to exploring the application levels of these technologies, we can anticipate a wave of technological innovations that will reshape the industry from what it is today!

Many leading companies have already embraced these innovations and many more are in queue.

Minu:

Ah! That sounds quite an effort! Interesting indeed.

Being a tech enthusiast and CTO of Epixel, how do you think will this impact our technology strategy and product road map?

Dhanesh:

Epixel had already sensed the forthcoming of these technological advancements and has taken necessary measures to adapt and excel in the field. Most of the topics discussed in the event was already there on our technology road map, many completed and released.

Addressing the marketing challenges faced by MLM companies has long been our priority, and we are actively developing advanced marketing concepts to address these pain points. Businesses can expect new innovations hitting the field soon...

Leveraging generative AI and LLM models, we are planning to develop innovative solutions that can transform the face of marketing altogether.

Minu:

It’s really inspiring to see the innovative strategies Epixel is employing, particularly in the use of generative AI and LLM models. Could you please brief further on how these technologies can be applied to improve the marketing process?

Dhanesh:

Sure. Marketing products and nurturing customer relationships are the main pain points of direct selling industry today. Emerging technologies such as generative AI present promising solutions to streamline marketing efforts. For example, generative AI can facilitate the creation of marketing materials such as promotional banners, landing pages, and other similar marketing materials for omnichannel promotions. AI can help analyze customer behavior and derive insights that can be instrumental in creating personalized content and service experiences. This is sure to take customer engagement to the next level.

In the realms of customer and distributor support, deploying AI-powered chatbots and implementing trained support programs can offer fast and real-time assistance, thus reducing concerns associated with manual support techniques.

Minu:

Quite interesting. If I ask you to list the disruptive technologies or emerging trends reshaping the industry currently, what would be your answer?

Dhanesh:

As I have already pointed out AI, LLM, Web 3, and blockchain are going to be the major disruptors. Blockchain will establish more transparency and aligning to the regulations will be more reliable.

All major brands are researching on various ways these technology trends can benefit their businesses for good.

Minu:

That’s quite a story! Can’t wait to watch the transformation. That’s the technological side of the story. Right?

If we are to explore the business management side, what we see today is all those brand building initiatives and experiments.

Noufal, as the Chief Business Officer of Epixel, what caught your eye at the event? Or rather I would ask, what were the key topics and trends related to business management?

Noufal:

I would love to answer that. Because, through the whole of the event, I was focusing on deciphering the strategies of big brands leading the industry. Businesses are increasingly capitalizing in the power of networking mainly through social media, influencer marketing and affiliate marketing with sustainability initiatives leading the race.

Every new trend is a welcome for today’s businesses who are looking toward expanding their brand presence.

Minu:

Oh Yes! Sustainability has entered every realm of the business. The emphasis on sustainability across industries is overwhelming. How are direct selling brands prioritizing on sustainability initiatives?

Noufal:

Absolutely. Sustainability is driving the identity of brands today. With younger generations keen on supporting social causes, direct selling companies with a multi-generational salesforce is prioritizing on implementing sustainable practices across their business operations.

Customers value brands that are socially and environmentally responsible. From reducing waste to minimizing carbon footprint to implementing eco-friendly policies, brands are viewing sustainability as a value factor that differentiates them in the market.

Minu:

True that! Younger generations prioritize social responsibility and sustainability in the brands they support. Hence sustainability has become an imminent part of every business today.

Before we conclude,

Dhanesh, how is technology assisting businesses in their sustainability initiatives? Does Epixel have a role to play?

Dhanesh:

Yes. Yes. Very much. We have embraced sustainable business practices and are helping our customers adopt them in their operations. Our support systems, including collaboration tools, chatbots and training programs, promote remote work and reduce the need for travel, further contributing to sustainability efforts.

Sustainability has long been a part of our technology strategy.

Minu:

Cheers to the good work! We look forward to more!

And with that we’re wrapping up our interview.

Thank you both for sharing your experience and insights with me. I really appreciate you taking the time to participate in this interview and sharing your expertise with us. Thank you once again. Have a great day!