- 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://nnw.fm/R6dEB). 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://nnw.fm/cB01C).
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://nnw.fm/6wTn8). SHRG reported to the SEC record sales of $85.9 million for fiscal year ended April 30, 2019 (http://nnw.fm/H3rwX). 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://nnw.fm/Zx9U3).
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://nnw.fm/arqQ7). SHRG has generated $129 million in cumulative sales since the launch of its own products in December 2017 (http://nnw.fm/6wTn8).
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://nnw.fm/SHRG
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