The business world is growing very rapidly and becoming competitive day after day. With so many businesses offering the same products and services, it has become a challenge to attract customers and let them see the value they get if they make the decision to choose you. Technological innovation has played a huge part in ensuring that businesses have something to work with when it comes to understanding key things about their audience.
With the help of online community platforms, a business can easily do research, collect data, and analyze this data. In this article, I am going to highlight the importance of online research community platforms and the benefit they offer to businesses around the world. So, without further ado, let’s jump right into it so that you can take your business to the heights of success.
- Bring People Together
The very first and the biggest benefit of an online research community platform is that it provides you with an ideal place to bring different people together. It doesn’t matter what kind of industry you belong to or what kind of a business you are running; you can easily use such platforms to connect with your customers.
The platform lets you get insight into what they want and expect from you so that you are able to transform your business accordingly. It goes a long way in making sure that the people who are using your products and services are actually satisfied with what you are offering them, and they feel as if they contribute to your business in a positive way.
- Create Brand Ambassadors
Another benefit of online engagement platforms is that you can use them to create a following for your business. A platform lets you engage with your customers on a daily basis, which allows you to let them be a part of your VIP community where you share important information about your future plans.
These VIP customers act as brand ambassadors and create a positive word about your products and services so that everyone in their circle knows what you are offering. It is a great way to advertise your business without spending a lot of money on it.
- Increase Your Reach
One of the most important parts of running a business is making sure that you consistently make new customers while keeping the old ones happy. Engaging with your existing customers in a positive way helps other people see that you truly care for your audience and want to keep them happy.
Engaging with your customers on these platforms and sharing important information about your business is going to improve your brand recognition and customer loyalty. By developing a good relationship with your customers, you promote other people to connect with you, which ends up going a long way in improving your overall reach.
- Understand Customer’s Behavior
Last but not least, I can’t stress the importance of tapping into your customer’s mind and finding out what he really wants. Your customer’s buying pattern and behavior are going to give you an insight regarding what kind of products he likes. You can use this information to create better products and drive better marketing campaigns that have better success.
An online research platform not only allows you to connect with your customers but also lets you dig deep into how he is feeling. You can ask important questions regarding his experience and get feedback from him to improve your business. It is a great way to understand his motivations and desires and then use this information to market your products in a better way.
4 Crucial Steps to Building an App Startup
The development of mobile technologies has led to the tremendous growth of the mobile apps market. As reported by Statista, the global mobile app revenue surpassed $365 billion in 2018. By the end of 2023, it will have reached about $935 billion.
With that in mind, it’s clear that the app market opens numerous business opportunities. As the global population almost equals the number of people owning a smartphone, you might start building your app at once.
However, building an app and launching a successful app startup are two completely different things. Read on to learn how to turn your app idea into a successful startup.
Every business starts with an idea, a concept that needs to offer something new to the market. It might share some characteristics with the existing options, but it has to bear a unique value proposition.
Start by conducting market research to identify the gaps in the mobile app market. Through the customer discovery process, you need to find out whether people would use the app you’re planning to build. When potential customers validate your idea as a unique solution to their existing problems and needs, you’re halfway there.
For instance, let’s say you’ve decided to launch a dropshipping app for spare car parts.
Define the age and demographic of your potential audience and have them interviewed. The agency you hire for this task needs to find out whether that audience would use such an app to buy spare car parts. If most interviewees give a positive answer, it means that you have potential customers out there.
When you get the market research results, it’s time to start developing the idea in greater detail. The crucial thing here is to decide what development route to take.
The first option is to start hiring all the experts you’re going to need to build the app and launch the business: app developers and designers, copywriters, marketing specialists, etc. You’ll also need app store optimization (ASO) specialists for both Google Store and Apple Store.
Gathering all these experts is a serious endeavor that requires a lot of investment. Most potential app startup owners don’t have enough money to go that way.
The other option is to work only with a core team of developers and create the minimum viable product (MVP). If we take the example above once again, this would be the initial, raw version of the spare car parts app. It needs to be functional enough only for the control group of users to try it and see how it works. When you get their feedback, you can move on to the more refined version and include various other professionals on the job. The most rational option here, finance-wise, is to work with freelancers and only hire full-time employees when the business starts making money.
As you’re adding all the necessary visual details and improving the UX on your early app version, it’s time to decide how you’re going to generate revenue from the product.
There are three most common ways of making money for a mobile app startup:
- Completely paid apps. Even though a small portion of app companies opts for completely paid apps, it’s a legitimate option. In this case, no one can access the app unless they’ve paid the subscription. Typically, it’s not the best option for completely new startups because customers still don’t know the app and the brand. However, think about hiding exclusive features behind a paywall as you gain a pool of loyal customers.
- In-app purchases. The other option is to offer your app for free but include in-app purchases. For instance, the spare car parts app could allow users to search through items freely and order products to a certain threshold. For orders above that threshold, the customers would have to pay a subscription. Consider offering discounts for the semiannual and annual subscriptions as an incentive.
- Free apps with ads. In this case, the entire content within the app is free, but there are ads. During the test stage, think about offering customers who don’t want ads to pay a subscription. Check out whether your control group would pay to remove ads. If they don’t mind the ads, don’t offer that option.
Before you officially launch your startup, you need to prepare your business for all the legal and financial matters.
For starters, choose the business type for your startup. As a sole proprietor, you’re personally in charge of everything out there. Your personal assets are the guarantee for your business assets. Think through whether this is a good option for your business. If you don’t like it, register as a limited liability company (LLC). In this case, your personal and business assets are legally separated. You pay yourself a salary for your work in the startup. Also, it’s easier to hire additional employees that way.
Moreover, analyze and track your financial documentation from day one. Bank statements, business accounts, balance sheets, and other reports are essential for responsible business management.
By keeping your app startup financial records in order, you’ll avoid getting lost in regulations or missing payments. To top it all off, keeping business papers in order is crucial if you decide to carry out an app valuation and sell the app later on. When the potential buyer sees that everything is in order and that you’ve been a diligent owner, they’ll buy your startup without hesitation.
Building a mobile app and launching an app startup is not a cakewalk. You need to have a vision and a plan for implementing that vision.
That being said, there are app businesses out there that have made it. They built an app that resonated well with the target audience, and they found success. There’s no shortcut or magic wand that will take you there. Start with the tips and suggestions shared in this guide to find your way and build a successful app startup.
Blockchain Benefits You Need to Know
Whether you’re buying, selling, or just using it to pay your expenses, you can’t deny the fact that cryptocurrencies are an amazing way to make your life easier, simpler, and less stressful, especially when it comes to handling your finances. However, these currencies aren’t just about replacing one payment method with another, but they’re an important trend in the world of finances and the worldwide economy. This is particularly the case when talking about Blockchain technology that takes this idea to a whole new level and makes it more meaningful and practical. So, what are some of the benefits of this concept, what makes it so special, and how can you start using it more successfully than ever before?
Unlike your traditional payment methods that are sometimes secretive and unreliable, cryptocurrencies are known to be open, honest, and as transparent as possible. This is a philosophy that was crucial when people first started using them, and this is what made so many people interested in this idea. However, with the development of cryptocurrencies and their increased popularity, came their negative effects as well, including their decreased transparency that brought problems to so many users across the world.
Luckily, this is a problem that can be solved thanks to the useful Blockchain technology. Instead of relying on individual currencies, this idea is trying to approach this issue from a wider point of view, which is exactly what increases its level of transparency. This is something we all love, from each user itself to the people behind this entire idea to the fact is that the whole cryptocurrency community can benefit from increased transparency. Even though this might not seem like the most important thing in the world for everyone who uses cryptocurrencies on a daily basis, but also those who are thinking about exploring this world in the future. Ultimately, this benefit of blockchain is probably going to help attract even more people in the years to come, which makes this an issue worth your attention.
With increased transparency comes increased security, and this is usually the main reason why people start using cryptocurrencies in the first place. While most of us have a problem using credit cards and other traditional payment methods, particularly when doing our shopping online, some people stick to cryptocurrencies only without thinking twice. And while this may sound like paying too much attention to unimportant things, this is often the reason why people around the world lose money every single day, and with so many of them being stuck at home due to the global COVID-19 pandemic, this might turn into quite a problem for millions of credit cards users worldwide.
However, with blockchain, you won’t have these problems. Equipped with different security protocols and encryptions, this is going to help you feel safer and more protected than before, as well as more sure that nothing wrong will happen to your money. Blockchain technology helps you do things more easily and quickly without putting your safety in jeopardy, and that’s another reason why this is going to keep getting more and more popular in the years ahead of us.
Back in the day, when the world of cryptocurrencies was beginning to take shape, people had no problem handling their digital currencies. There were just a few options to take into consideration and you didn’t have to think about how you’re going to make all your currencies work together. But, this isn’t the case today because of all those new currencies that have appeared since, and this is what makes dealing with cryptocurrencies harder and less practical.
But, if you choose the right option and stick to the most practical solution you can find, you won’t have a problem making all your currencies work well together. With one of those absolutely best multichain wallet on the market, you’ll be able to handle all your currencies easily and without wasting any time and energy, and the best thing about it is that you can do this by using your mobile phone or tablet. This makes this entire process quicker and simpler, and that’s something all of us need in this day and age.
Unlike all other things that are taken to a whole new level thanks to the amazing blockchain technology, this is one of those things that are reduced thanks to this idea. Due to so many things you can do at the same time using this technology, you won’t have to waste time, energy, and, most importantly, money to make all your dreams come true. This is why it’s easy to reduce your costs by using blockchain as often as you can, so take this aspect into consideration too.
The real reason for this is quite simple to understand – if you start using blockchain, you won’t need to use any other third-party entities out there, and that also means you can avoid all the middlemen that cost more than you can imagine. This is why individual users, as well as huge companies, are starting to use blockchain more frequently as a way to save money and cut their costs as much as possible.
Blockchain technology comes with tons of benefits on different levels, so don’t be afraid to start checking it out today and making the most of all those amazing benefits that are available to you!
Business Traveller’s Guide to Hong Kong for First Time Visitors
Are you visiting Hong Kong for the first time? On top of that, are you travelling alone? Visiting a massive city like Hong Kong can be overwhelming and stressful unless you’re familiar with some of the basics for first-time travellers. From finding your way around the airport to booking the right accommodation and setting up your cell phone, there’s a full spectrum of basics that a first-time visitor needs to know when coming to Hong Kong.
Finding your way around the international airport
No matter how many times you’ve visited abroad destinations, coming to Hong Kong will feel like a brand-new experience. The minute you see the international airport you’ll feel like there’s no need for you to go elsewhere for entertainment because the airport features a myriad of restaurants, cinemas, free wi-fi and even a shopping mall. So, in case your returning flight is delayed, you will have plenty of choices to kill time. Keep in mind that you will also go through customs and receive a visa upon entry if you declared that you’re travelling as a tourist. To avoid getting in trouble, we suggest you declare that you’re travelling for business purposes and get a visa in advance if needed.
Finding decent accommodation is the next on the list, and you will come across a full spectrum of choices. Finding studios for rent in Hong Kong is one of the best options. You can choose between small, middle, or big studios. If you’re planning a longer stay, studios with balconies and bunk bed studios will be a good choice too, offering accommodation for your entire business team. Budget hotels or deluxe hotels are also an option if you’d like to splurge on accommodation.
Set up your cell phone
Making calls through your home provider’s network can be pricey in Hong Kong. That’s why you’ll need to get a Hong Kong SIM card and make calls at affordable prices. China Mobile Hong Kong, 1010, and Three Hong Kong are the providers you can choose between and find your best deal. For shorter trips, pre-paid cards will do the work, allowing you to make phone calls and use the internet at reasonable prices. You can find SIM cards at the airport and save yourself the trouble of roaming around the city in search of your Hong Kong number.
Choose your transportation wisely
When it comes to transportation options, Honk Kong doesn’t disappoint. They have everything you’ll ever expect from public transportation in a metropolis. Their trains and metros are clean, fast, and most important of all, always respect the timetable and are never late. The metro system is widely popular since a stop can be found at every major point of Hong Kong. For travellers who stay in Hong Kong for several days, and plan to tour the city, an Octopus card for the metro and busses is a must-have. Taxis and trams are other options of transportation that many prefer over a metro. Red taxis are quite prominent, so you’ll have no trouble spotting and landing one. While metros cover almost the entirety of Hong Kong, there are still some areas where you’ll need a minibus to reach. Hop on and off the bus for a flat rate. You can find them by the metro stops most often.
Work spots all around
If you need a place to work from and your hotel or a studio apartment isn’t the most suitable, Hong Kong has a full spectrum of work-friendly locations. Like in any other city, coffee shops offer a pleasant ambience and enough coffee and snacks to keep you fuelled for work. Coworking spaces are everyone’s favourite place to work from and meet new people. If you like an ambience where people are in their full work mode, motivating you to do your work, then a coworking space is where you need to be. Depending on how long you’ll be staying in Hong Kong, you can pay a weekly or a daily fee to use the space. An international airport is also a place where many people find their working sanctuary. Whether you’re in need to finish work before you board the plane, or you’ve found accommodation close by, you can go back to the airport and do your daily tasks there, just like many other residents of Hong Kong do.
Visiting new cities is always thrilling and fulfilling. However, when you’re travelling for business, you’ll need to plan your trip a bit differently. Looking for places to stay and work-friendly locations will be of the essence if you want to be at your most productive. Make sure you book affordable accommodation, learn everything about public transport and invest in a local SIM card to avoid breaking the bank on calls and texts.
India’s largest grain commerce platform, Arya.Ag, raises USD 60 Million Series C
UserTesting Introduces New Capabilities ForTesting Facebook Metaverse and Virtual Reality Experiences
Considering the Legal Ramifications of Your Startup’s Policies
Interview2 years ago
An Interview with Joel Arun Sursas, Head of Clinical Affairs at Biorithm, Singapore
More2 years ago
6 Promising Up and Coming Fashion Companies
More4 years ago
Factors to Consider When Planning Your Office Design and Layout
Interview1 year ago
An Interview with Russell Jack, Southland-based Yogapreneur and Mindfulness Teacher
Other Internet Tech4 years ago
How to become an IPTV reseller? A beginner’s guide
More4 years ago
IPTV business for beginners
Business Ideas4 years ago
50 Small Business ideas with low investment
More4 years ago
Advantages of Using Ride-hailing Services for Transportation