LifeVantage responds to purchasing trends with a business plan revamp

Network marketing company LifeVantage just announced major transformation initiatives, including a customer loyalty program and a new consultant compensation plan called ‘Evolve.’

“We call this strategic transformation ‘LV360’ because we looked at not just one aspect of our consultant and customer experience, but every touchpoint in our model. We have been laying the groundwork for this shift over the past year with updates to things like our incentive program as well as product differentiation and positioning,”​ said Steve Fife, president and CEO of LifeVantage.

Purchasing behavior

Fife told NutraIngredients-USA​ that consumer purchasing trends led the way for this relaunch.

“Each element of this groundbreaking transformation was designed in response to evolving consumer trends, while also supporting growth opportunities and multiple paths to earned success for our consultants,”​ said Fife. “It was important for us to have our consultants who simply love the product and want to share and retain their customers, win through their efforts while also providing a path to earning for those consultants wanting to build a business while developing other managers and leaders.”

Changes to social selling experiences on popular social platforms and the rise of influencer marketing was another major trend inspiring the initiatives included in LV360. “The ability to partner with brands and earn commissions on traffic and sales driving is familiar and embraced by consumers as shown by the growth of influencer marketing over the past several years.”

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