- SHRG’s
adoption of interactive, video-based platform and its Blue Ocean strategy
address vital criteria for direct-selling success
- Company’s
selling techniques utilize effective online selling tools combined with
priceless personalized customer service
- Sharing
Services achieved revenues of $35.4 million for Q1 2019, more than double
that of the comparable period in 2018
As technology continues to shape the direct selling
industry, major players in the space are realizing that traditional sales
strategies are not enough. To remain competitive, it is no longer enough to
offer a compelling product at a fair price. While other companies strive to
evolve, Sharing Services Global Corporation (OTCQB: SHRG) has
hit its stride, having already employed selling strategies that focus on the
consumer and the newest shopping trends.
In today’s world of increasing connectivity and choice,
industry leaders are shifting their attention to the consumer, realizing that today’s
buyers desire a personal connection with their distributors. “Direct Selling
News,” a leading industry publication, emphasizes the importance of “recruiting
customers” by meeting them where they are, including utilizing technology to
connect via social media (http://ibn.fm/Y6hKZ).
Sharing Services Global Corporation’s selling strategy combines online
technological tools and a specialized, seamless, “priceless” selling experience
offered by its independent Elepreneurs, or sales contractors. SHRG’s selling
strategies focus on the consumer and newest shopping trends.
SHRG’s Elepreneurs LLC subsidiary, along with its
independent sales contractors, now use the interactive, video-based VERB
sales-marketing app platform developed by Verb Technology Company Inc.
Initially used by Elepreneurs in the United States, VERB will soon be unveiled
in Canada (http://ibn.fm/OsTUh).
These selling strategies have resulted in SHRG’s sharp
revenue gains. In Q1 2019, the three months ending July 31, SHRG achieved
revenues of $35.4 million, more than double that of the comparable period in
2018 (http://ibn.fm/9NbVF).
SHRG reported to the SEC record sales of $85.9 million for fiscal year ended
April 30, 2019 (http://ibn.fm/Pftqf).
This represents a nine-fold increase, or $77.5 million jump, over the company’s
revenues of $8.4 million the prior year.
Two elements also contributing to SHRG’s success have been
its implementation of Blue Ocean selling strategy and the marketing of a
proprietary, best-in-class health and wellness line of products popular with
customers. “Our Q1 revenues demonstrate that our Blue Ocean Strategy has taken
root and continues to grow in the direct-selling marketplace,” SHRG CEO John
“JT” Thatch stated in a news release.
SHRG’s Blue Ocean selling strategy selling makes independent
sales contractors more effective. Rather than competing directly in a
competitive, direct-selling market, these contractors make competitors
irrelevant and succeed in an uncontested marketplace (http://ibn.fm/Iy8U8).
A Direct Selling News article, titled ‘5
Events That Impacted Direct Selling In 2019’, describes the importance in
direct-selling of effective mobile, social and cloud technologies. The article
quoted direct-selling veteran Wayne Moorhead as saying, “We need to make
interacting with us more convenient, seamless and simple. We can no longer
expect our customers, prospective customers or distributors to put up with
outdated designs, clunky processes and outdated technologies.”
The article also quotes Jeff Kaufman, outgoing chair of the Direct
Selling Association’s research committee, saying that direct sellers should not
compromise on the “priceless personalized experience” they have with customers.
SHRG achieves this balance of customer-seller interaction
and technology use with the VERB platform, supplying support for its
Elepreneurs and the marketing and development of its well-accepted health and
wellness line. The launch of that proprietary line by SHRG – through its
Elevacity Global LLC subsidiary – was a company milestone. The line consists of
three sectors: anti-aging skin care, functional beverages and natural
supplements (http://ibn.fm/kl6fR).
SHRG has generated $129 million in cumulative sales since the launch of its own
products in December 2017 (http://ibn.fm/cqlme).
SHRG’s Elepreneurs subsidiary now uses the business-focused,
CRM, sales-enablement proprietary platform from VERB. In just the first weeks
of using VERB, SHRG received hundreds of five-star reviews on the Apple App
Store and Google Play Store. The new VERB sales and marketing app offers
sampling and interactive video features that support Elepreneurs’ company
objectives.
SHRG is a Plano, Texas-based diversified holdings company
that owns, operates or controls a variety of companies engaged in direct
selling through independent sales contractors as the sales force.
For more information, visit the company’s website at www.SHRGInc.com
NOTE TO INVESTORS: The latest news and updates
relating to SHRG are available in the company’s newsroom at http://ibn.fm/SHRG
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