Why Start-Ups Should Invest Heavily in Mobile Apps?

By Rahul Som on November 19, 2019

The world is revolving around the online and digital platforms. Today most mobile app users have android phones, and they prefer to have information about every small and big thing on their mobile set.

No doubt, the traditional methods of running a business successfully are still in existence, but the priority is heading over getting online as early as possible.

The reason being, the online platform has become a fast, easiest, time-effective, cost-effective, business-friendly as well as customer-friendly approach.

Should Start-Ups Invest in Mobile Applications?

In this fast-moving era, Mobile applications have taken over the system.

One of the most common questions that popups in businesses are should a start-up invest in developing mobile apps, or should they avoid this option?

It’s imperative for a start-up to crucially choose its marketing ways so that the business has a long life.

If you have an excellent business idea, your products are beautiful, but you are not aware of how to market those products as per the current trends, your business is highly at risk of failure.

The use and development of mobile applications are tremendously at a higher speed, and there is no chance of its decreasing over the coming years; instead, the increase will grow more and more.

As per the reports, mobile functioning and its use represent approx. 70 % of digital media time.

It is expected to generate 189 billion U.S. dollars in revenues through mobile applications while using in-app purchases and app stores by the year 2020.

However, having a mobile app is not sufficient; online activity continues to witness a rapid shift in the mobile industry. Developing mobile apps require the right amount of expertise.

Being an entrepreneur, racing, and working your idea into a million-dollar success requires you to invest in developing and using mobile applications for the better growth of your idea.

Following Are the Pointers That Will Clear All Your Ambiguities As To Why You Should Have Mobile Apps

Enhance a Global Reach

The online system has attained a global reach since the time of its inception. Once you have your mobile applications, your business will breathe overseas without your presence there.

The drawback of not having a mobile app that your business will suffer this global reach and the scope will be confined to the local markets only.

Stand Out from the Cut-Throat Competition

Many start-ups out in the market are still not aware of losses they are suffering by not building their mobile apps; hence, these apps get hidden for them.

So this is your chance to take a big leap over such businesses. And why not to invest in these mobile apps when these apps only help you grow your business and witness a long-lasting success?

Accessibility

Investing in Mobile application Development lets you virtually put your business in the minds of people.

These apps allow customers to access all the information they need regarding anything about your product or services in one go from anywhere and anytime.

Brand Recognition

These mobile apps have the power that can do wonders for your brand promotion. Through this, your business will get landed in the iOS and Android app stores.

This will further lead to the potential customers who are searching for the products and services you are offering.

A user-friendly mobile app will help in leaving a long-lasting impression on customers; consequently building the reputation of your brand.

Increased Customer Engagement & Retention

The attributes discussed above help in enhancing the participation of the customer with your business at a high level, and it gives them all in one experience.

With the help of mobile apps you are putting your business right in the palm of the hands of your customers, then why wouldn’t they prefer your products and services every time they have to buy something?

Increased Sales & Market Research

With the advancement in Fintech services like Paytm, Paypal, Amazon, online business is in trend.

As per the reports, after using mobile apps based, 49 % of sales got increased by approx. 500 companies.

So it is imperative for your business that you should invest in mobile apps.

Increased Return on Investment (ROI)

The biggest problem that keeps away the start-ups to invest in a mobile app is the initial and substantial cost.

However, it is essential to understand that the cost of not investing in such apps is far more expensive than the cost incurred in investing in them.

The price is nothing compared to the prospective brand value and opportunity that will generate additional sales with the help of mobile apps.

Real-Time Feedback and Improvisation on the Same

Just by relying on the web version of your business will never provide you what your users or potential customers think about your products and services.

Start-ups can’t communicate directly to the customers or carry out an extensive survey.

However, a mobile app is there to do it all for you. You get to know the real-time feedback for the users and can improve the services and products you display.

Provide Value to the Customers

The competition in the market is more fierce than ever. To grab a maximum number of customers in your scope, you need to offer the loyalty points or rewards into consideration.

And with the help of mobile apps, it is an effortless task to carry out and make your customers feel special.

Overall Development

Mobile apps are a fresh new channel for engagement, which yields a lot of data for companies to act on.

With this data, the start-ups can offer customized recommendations and tailored content that boosts their overall brand development.

Due to the greater flexibility and control that these apps offer, they continue to be an integral pillar of any business growth strategy.

Conclusion

We hope all your confusion has come to an end after reading all these pointers. So yes, you must have mobile applications for better growth, development, and survival of your business.

Author Bio :- Harikrishna Kundariya, a marketer, developer, IoT, ChatBot & Blockchain savvy, designer, co-founder, Director of eSparkBiz Technologies, a Mobile App Development Company in USA. His 8+ experience enables him to provide digital solutions to new start-ups based on IoT and ChatBot.

This 6-Step Personal Development Plan Made Me a Better Entrepreneur

By Guest Contributor on October 9, 2019

For entrepreneurs, formulating a business plan is an essential starting step on their journey to establish their business. They focus on developing a detailed business plan outlining every key aspect of their business including long-term objectives, product offerings, analysis of target markets, sales forecast, recruitment plan, marketing strategies, and financial plan.

There is no denying that a well-thought-out business plan helps convince investors and bankers to invest in your business and has other important purposes. But often, while being focused on developing a business plan, entrepreneurs neglect another important kind of plan – a Personal Development Plan.

If you are not familiar with what a personal development plan is, you must be wondering what it is. Just like a business plan focuses on a business’ goals and success, a personal development plan is a plan for an individual’s personal goals.

It is equally important for entrepreneurs to define and follow a personal development plan because self-improvement can benefit your business in more ways than you imagine.

So, how can you create a personal development plan to become a better entrepreneur? Let’s find out in this article.

6 Easy Steps to Create a Personal Development Plan

Unlike a business plan, a personal development plan does not have a set format. It is simply a document that you create to have a sense of purpose and direction and to focus on personal growth. Here are the 6 steps to help you make your personal development plan.

1. Define What’s Important

To create a personal development plan, the first step for you is to list down all the important goals you want to achieve. To do this, ask yourself:

  • What do you want to accomplish?
  • Which new skills you want to learn?
  • What are your unfulfilled dreams?
  • Who do you aspire to be like?
  • What would you be happier to achieve?

Answering these questions will define your goals. You should write down 10-15 important goals which you want to achieve. They can be goals related to your personal life or your career. Out of these, prioritize one goal that is the most important to you and make a personal development plan that is focused to achieve that.

2. Identify Your Strengths and Weaknesses

The next step for creating a personal development plan is to analyse your strengths and weaknesses. List down your key strengths and weaknesses, and ask for your friends’ and family’s help if you can not think of this on your own. This gives you a clear depiction of what specific areas you are good at so that you can focus on them or you can focus on your weak areas to improve them. For example, if you know you are good at writing, then learning content marketing for your business can be a good skill for you to acquire. Similarly, if you are not good with numbers then learning a skill such as video game designing that is based on that would be unfavorable for you.

In short, knowing your key strengths and weaknesses allow you stay focused and set realistic goals for yourself.

3. Learn New Skills

You can think of any skill that you want to learn, it can be an interpersonal skill such as verbal communication skills or a new professional skill such as learning coding and programming or social media marketing. To decide which skill you want to learn there are 2 important things to remember: a) It is better to focus on one skill at a time so that you can manage it alongside running your business and b) it is better if the skill you want to develop is transferable, meaning that it can be used to positively contribute to your business’ success. Once you decide what skills you want to develop you can follow the next steps to go about learning them.

4. Set a Deadline

Once you decide on a skill you want to develop, you have a goal to work on. And every SMART (Specific, Measurable, Achievable, Realistic, and Timely) goal should have a deadline. Being an entrepreneur making time in your hectic work schedule is difficult and you will never be able to achieve your goal if you do not set a realistic deadline and stick to it.

Saying “I want to learn the skill of coding and programming someday” is not enough. You need to set a specific deadline (e.g. 2 months) within which you can realistically achieve your goal by not compromising on your entrepreneurial duties.

5. Have an Action Plan

Having a decided goal and a deadline means the next step is to draft an action plan. Here you need to decide what you exactly need to do to accomplish your goals. Write down at least 2-6 important activities you will perform to learn the goal within the set timeframe. For example, your action can be as follows:

  1. I will read a book on programming (1 week)
  2. I will research online about the basics of coding and programming (1 week)
  3. I will start a 3-week long online course to learn to code (3 weeks)
  4. I will practice coding a simple website (1 week)

Having a set action plan will keep you focused on actually learning the skill.

6. Evaluate Your Progress

To keep yourself motivated in achieving the goals you need to measure your own progress. You can make a list of your accomplishments and refer to the previous steps to find out how much progress you have made and if your approach is effective or not. The aim of this step if to identify what has been working well for you and what needs to be changed or improved?

If you identify that a certain activity in your action plan is not working for you, you can decide to change your strategy. For example, if you find that your plan to learn coding through an online course is not helping you learn then you can adopt a different strategy such as reaching out to an expert programmer to teach you in-person.

Wrapping Up!

A personal development plan is a powerful exercise for you to focus on your personal growth and to extend your learning curve. It is a good practice to make a new personal development plan every year so that you can be a better entrepreneur and add value to your business.

This 6-step personal development plan is rooted in the philosophy that personal development positively impacts professional performance. It focuses on the idea of constant learning and evolving of an entrepreneur’s skill set. Therefore, entrepreneurs must focus on personal development plans equally as much as they focus on a business plan.

Kickstarter vs Indiegogo: Which Crowdfunding Platform Can Be Ideal for Your Project?

By Guest Contributor on July 24, 2019

Crowdfunding has emerged as an effective way to raise funds for projects and various causes ranging from developing a tech gadget to shooting an independent movie to building an innovative software solution. Thanks to the crowdfunding platforms, creative and ambitious development projects no longer need to be concerned about investment while chasing their dream. Many innovations starting out of garage spaces could see the sweet glow of success thanks to overwhelming crowdfunding support.

Anyone having familiarity with the crowdfunding knows about Indiegogo or Kickstarter, two undisputed leaders among the crowdfunding platforms. While both are superb platforms, each has its own pros and cons as well. Instead of listing the pros and cons, here we are going to see how they work and differ in terms of advantages and disadvantages for various aspiring projects.

The Basic Difference

Let’s start with the fundamental difference. Well, Kickstarter is basically a crowdfunding platform for creative projects such as innovative gadgets, films, games, and books. In contrast, Indiegogo allows crowdfunding for creative projects as well as a lot of other types of campaigns such as animal rights protection funding, small business funding, environmental rights campaign funding and many others. Even Mobile App Developers can launch campaigns to raise funds for development. This platform can actually be used for nearly anything while Kickstarter sticks to only limited types of creative projects.

How does Kickstarter Funding work?

Kickstarter follows only one model for funding, and it can be dubbed as the all-or-nothing model. As per this model, backers can pledge any amount of money for your campaign, but if the fundraising goal is not achieved within the predetermined deadline, the backers aren’t charged their pledged money, and you don’t get anything for the project. This is why campaigns on this platform are advised to go for only attainable goals that can be achieved within the timeline.

How does Indiegogo Funding work?

In complete contrast to the Kickstarter, we have two different funding options with Indiegogo. The first option is just like the one that works for Kickstarter. In case you don’t achieve the funding goal, the backers are refunded their money, and you don’t get anything.

The second funding option allows you to keep the pledged amount without achieving the funding goal. This flexible model works best for projects that require some time to gather interest and projects that are not confident enough to raise the fund within a specified time.

Indiegogo vs Kickstarter Fees

Both Kickstarter and Indiegogo charge a portion of the entire funds raised through campaigns on their platforms. Apart from this they also charge a processing fee.

Kickstarter charges 5% of the entire raised funds. But in case you don’t meet your target, the platform doesn’t charge a penny from you. Apart from this, the platform also charges a payment processing fee between 3% and 5%.

Indiegogo takes a similar charge as 5% of the funds raised. Instead of charging on the fundraising goal amount, they charge on the actual money raised. They take a 3% Processing to feel along with 30 cents for each transaction.

Media and Outreach

As of now, Kickstarter enjoys more media exposure than IndieGogo. The media outreach and image of Kickstarter is better compared to IndieGogo because of the stricter quality control measures. IndieGogo also gets good press coverage and online media attention thanks to an array of innovative projects hosted by the platform.

Can You Start a Campaign on Kickstarter or Indiegogo?

When it comes to the eligibility criteria, both platforms have their set of rules for starting campaigns. On Kickstarter, only the permanent citizens of the UK and North America can start campaigning provided the campaigner is 18 years of age.

Indiegogo, on the other hand, has a global presence and quite rightfully considers itself as a worldwide crowdfunding platform. Anyone living anywhere in the world can just start a campaign except the countries in the US OFAC sanctions list.

The Application Process for Campaign on Kickstarter or Indiegogo

Kickstarter campaigns are required approval from the authorities before they are allowed to go live on the Kickstarter page. Generally, on Kickstarter, the creative projects that are encouraged to participate are on the verge of completion when starting their fundraising initiative. Some of the key creative niches that are allowed for fundraising campaigns include tech gadgets, software, games, fashion, film, comics, art, design, dance, music, photography, and theater.

Indiegogo runs without any strict control of participants, and anyone can start a campaign on this platform. All you need to do is to create a free account and begin your campaign. You only need to have a bank account in your name.

Which Platform Is Ideal?

Finally, let’s face the obvious question: which of these two crowdfunding platforms is better and ideal? Well, both have their own set of pros and cons, and so, no platform can be considered better than the other. As we have seen, Indiegogo is much more flexible and accommodating for all sorts of campaigns while Kickstarter is only good for highly credible projects that require only last-mile funding to start production.

Since Kickstarter doesn’t allow any participant from countries other than the US, UK, Canada, and a few others, anyone living in Asia, Latin America or Africa should automatically strike out this as an option.

As for fees, both platforms have little or negligible differences. Both have a global presence and massive popularity among the creative developers, gadget makers and people working with a variety of innovative projects.

Conclusion

Crowdfunding has come as a great bliss to all those innovative projects that often need to limp forward because of a lack of resources and funding in spite of their merit. Thanks to IndieGogo and Kickstarter now, innovations of all types can now become see the light of the day.

This article is contributed by Mushavvirkhan Balooch — Digital Marketing Expert at Square Root Solutions.

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How Technology Is Bringing a Change in E-commerce

By Guest Contributor on September 15, 2018

The technology trends are affecting the way business-to-consumer transactions are getting changed, helping the consumers keeping a track of online purchases.

Ubiquitous smartphones and social networking apps are changing the lives of people, all over the world, bringing about a transformation in the way they connect with their friends and others. Technology is also shaping the future on online transactions, the way it was previously done. Gone are the days of mindless online wandering by the consumers and thinking twice before ordering an item online, as there are many risks involved. We have hordes of consumers, who are making a beeline towards the numerous mobile ecommerce sites and the greatest advantage lies in the fact that the transactions are performed at a faster rate and at affordable prices.

It is technology that is helping the consumers to keep a track of the online purchases. The trends that are emerging are affecting the bigger picture and it is changing the business-to-consumer transactions as newer opportunities evolve, for both sides of the transactions. There are a variety of tools that are available to the consumers for locating stores, gauging prices, finding alternatives and availing coupons.

There is a revolutionary change in the way business-to-consumer transactions happen and these are:

Change in Consumer-Retailer Relationship

The rules of the conventional retail business is no longer existing. The brands are able to connect with the consumers, without the need to enter the shop or get attracted to the brand in the form of an ad. The brand now resides on the smartphone of the user and this serves the purpose of a constant reminder. The location specific notifications will access the consumers, almost everywhere, even when they are simply passing before your store.

More of Personalized Customer Experience

Technology is evolving the personalization standards. A loyal customer base is always needed by the businesses and these marketing techniques are making them possible. The technological improvements are bringing changes in customer services too.  The social media platforms like that of Instagram are used to get connected with the brands.

Grabbing Attention of the Consumer

The email notifications are getting replaced by the user notifications, at any point in time, unimaginable so far. Promotions used to be detected by the spam detectors and avoided can now grab the attention of the users. New sales and promotions are achieved now with the help of these new forms of notifications.

Dominance of the Smaller Businesses  

Global access to the brands of the smaller businesses are made possible with these online transactions through the ecommerce sites. The mobile ecommerce outlets of these smaller businesses are better than the corresponding ones from WalMart and others. The  ecommerce ecosystem is made buoyant with more and more startups that are cultivated throughout the entire breadth and width of the country. Additionally, starting businesses from home is also made possible with the advent of technology.

Extreme Convenience to the Retailers

The single most driving force behind the growing demand for e commerce activities is the convenience of the service. Automated vehicles and drones are allowing the retailers to tide over the challenges like that same-day-delivery. The use of technology is to resolve the delivery related problems and is already used by the retailers like Amazon.

Technology Trends that will affect the Business-to-Consumer Interactions

There are many retailers who are thinking about implementing latest technologies like Augmented Reality(AR) for their ecommerce counterparts. AR will bring a new dimension to the online transactions for the e commerce businesses. The consumers will not need to visit the shops, physically for a real-life experience, using this technology. It is a new way to discover the products that we need to buy. Autonomous vehicles are used by Google and Amazon for handling the challenges of the same-day delivery services, reducing the cost to a considerable extent.

Consumers are always on the lookout for ways that gives them the piece of their mind, while indulging in the e commerce and the mobile shopping. The priority of the retailers is not to increase the number of consumers, who are willing to shop online, rather improving the experience of the retailers.

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