IN THE NEWS
A wellbeing company has been fostering trust among its sellers and customers for decades. Here’s what it looks like.
Read the full story on businessinsider.com
American consumers today are not a gullible group. Skepticism of, and even cynicism about, corporate claims and product testimonials are at a high water mark. Even when ample data exists to back a company’s public promises, successfully earning consumer trust can be nothing short of a monumental challenge.
On top of that shaky baseline, imagine an individual who is not only a consumer but who also wants to go into business for themselves. Factoring in the risks and work involved, even for aspiring entrepreneurs looking to adopt an existing product line or franchise, the level of demonstrated trust on the part of the relevant company reaches even higher.
In this time of public skepticism and economic stress, American manufacturer Amway is succeeding in meeting that high standard of trust. For some, hearing the name “Amway” may evoke images of door-to-door sales or 1970s-era living room parties that doubled as product demonstrations. But today, the company — which manufactures some of the most popular health and wellbeing brands on the market including Nutrilite, XS Sports Nutrition, and Artistry Skincare — is offering hundreds of thousands of Americans the chance to earn a little bit of extra income.
Providing a clear example of non-traditional, flexible work before such concepts were in vogue, the company is powered by independent business owners who sell Amway products in communities across all 50 states. Thousands of Americans are employed in jobs ranging from innovation and science to packaging and marketing.
But as with companies across many industries, the central challenge to success boils down to one value: trust. Not only consumer trust, but also trust on the part of aspiring entrepreneurs who are considering joining the more than 290,000 Americans who have become part of the model as Amway business owners.
Fostering consumer trust
How has Amway set itself up for success in the race for consumer and seller trust over the past six decades of its operations? Amway leaders say the key ingredient to sustaining trust is an ongoing, consistent effort to expand the accessibility of its model of entrepreneurship and a proactive, creative approach to bolstering consumer guarantees.
“Amway proudly employs some of the strongest consumer protections in the industry,” Andrew Schmidt, managing director of Amway North America, said. “Our strong standards are rooted in our unwavering commitment to giving our customers and our business owners unparalleled peace of mind.”
Amway also backs its products with a satisfaction guarantee: A full refund for products returned within six months.
“We believe it also demonstrates the high level of confidence we have in our broad portfolio of health and wellbeing products,” Schmidt added. “There’s a reason Amway products are some of the most popular on the market today.”
Expanding access to business ownership
For years, aspiring Amway entrepreneurs have been able to avoid some of the barriers to business ownership associated with more traditional brick-and-mortar start-ups. That’s because Amway provides products, supply chains, e-commerce storefronts, education, and a community of mentors — demonstrating, in the words of Amway leaders, a pathway to entrepreneurship that does not require world-changing ideas or startup costs that are out of reach for most people.
In just the latest company move to expand accessibility to this model, aspiring business owners can now join Amway without a registration fee for their full first year. This is a change company leaders implemented following the pandemic and economic stresses to expand access to business ownership among Americans. After all, Americans across the country continue to express interest in entrepreneurship, even if the pursuit can seem daunting when starting a product line from scratch.
“At Amway, we believe that continuing to expand access to business ownership will mean a stronger Amway and a stronger economy,” Schmidt said. “The past several years have seen a lot of economic ups and downs, but Amway’s commitment to lowering barriers and expanding access to business ownership has never wavered.”
To formally join the Amway model, aspiring business owners and partners must adhere to strict ethical codes of conduct and are held accountable for meeting the standards of transparency and trust that the company sets for itself.
Events over the past several years have accelerated key trends, including growth in non-traditional work opportunities and a renewed focus on wellbeing, have played to Amway’s ingrained strengths. But what truly has set the company apart and made for a winning model is its decades-long investment in earning the trust of consumers and sellers alike.
As trust and transparency continue to rise among consumer values, expect to see more employers taking note and following Amway’s lead.