The effectiveness of every email marketing campaign is dependent on a variety of best practices. Catchy subject lines, appealing incentives, high-quality material, and so on. However, there is one aspect that is frequently forgotten and that every campaign suffers from. That is, your email marketing lists must have correct and up-to-date information. Some believe email hygiene to be the most important aspect of any effective email marketing.
Keeping a clean email list is key to making sure all your connections a legitimate and active. If you don’t practice good email hygiene, you are missing out on potential reach and overall growth for your business.
ESPs are watching
There’s good reason why email hygiene is considered to some the most important aspect of any email campaign. It entails removing any inactive subscribers from prospective email campaigns and verifying that your list only contains active subscribers. Regular email hygiene will help you ensure that you are only sending emails to those who want to hear from you, which will help you avoid having your communications designated as spam.
This is significant because email service providers (ESPs) are becoming smarter and more in tune with what their consumers want to see in their inboxes. As a result, maintaining a clean email list has never been more vital when it comes to ensuring that your emails get delivered and opened. ESPs are paying closer attention to the emails you send and how they are received. ESPs not only check for spam signals and track spam complaints, but they also calculate openings, clicks, inactivity, and unsubscribes to determine if a message reaches the inbox or is routed to spam.
Deliverability is the marker
Keeping a clean list requires an understanding of hard and soft bounce, and list suppression.
A soft bounce indicates that an email address was authentic and that the email message was sent to the recipient’s mail server. It was returned, however, since the service was unavailable or the message was too large for the recipient’s mailbox. It could be that their inbox is full, but this is rare.
When an email is sent to an old or non-existent address, it results in a hard bounce. The emails are eventually placed on a suppression list. Email addresses on a suppression list have been permanently restricted from receiving future communications.
As ESPs are becoming more sophisticated in screening for spam, a clean list is essential for getting emails delivered to the intended recipient. By sending emails to the wrong addresses, or the wrong audience on a regular basis, your total email deliverability rate will steadily deteriorate.
Once someone has opted in for your content, it is critical to track and update data over time. Opt-ins are not guaranteed to last, and even the most enthusiastic subscriber can lose interest over time. Even if your list is entirely generated on opt-ins, 20-30% of email addresses will expire within a year.
Best practices
Other than monitoring your bounce rates and tracking your deliverability rate, here are a few best practices for good email hygiene.
Engagement – Like deliverability, your engagement rate is an important metric when it comes to maintaining good email hygiene. Perhaps the number of opens, click-throughs, and recipients responding to your CTA (Call To Action) is decreasing with each passing week. In this case, sending a re-engagement email is a great way to find out if your subscribers are still interested in receiving your content. This method can also assist you in avoiding an unneeded spam complaint from a subscriber who does not wish to hear from you. A business that re-engages with its subscribers will also positively boost its sending reputation.
Clarity – Permission is required if you wish to ensure consistent deliverability. Sending your campaign to people who haven’t agreed to hear from you puts you at risk of spam complaints. By making it simple for a subscriber who is no longer interested to unsubscribe, you can reduce the possibility of a recipient complaint and possibly prevent legal ramifications.
Content– Because the quality of your email content can trigger a spam filter, you must clear your emails of what could be considered spam content. This can include excessive, consecutive punctuation, especially exclamation marks, and all caps. It is also important to note sending your campaign to “Dear Reader,” etc., is not a good idea. Personalization is essential for developing relationships with your subscribers. Although content is not the deciding element in whether or not your email is delivered to the inbox, it is still crucial to ensure that your communications do not get marked as spam.
Conclusion
Regular email hygiene ensures that you are only messaging people who want your communications, which also helps you avoid having your email designated as spam. By maintaining an active mailing list, you can ensure your marketing campaigns reach their targets to help your business grow organically.
Affiliate marketing has been experiencing explosive growth in recent years, as it proves to be one of the best ways to earn money. Now, it’s essential for brands to run affiliate programs of their own.
The process of an affiliate program allows brands to advertise their products and services through an affiliate in exchange for a commission from every sale.
Creating a successful affiliate marketing program requires well-defined planning and strategy, and using the best affiliate marketing software can help you find high-quality leads without extraneous advertising costs.
Using automated affiliate marketing software is the most cost-effective and resource-utilizing way to maintain a stable customer base as well as a standard of work.
Affiliate marketing software is an important part of running an affiliate program monitoring. In an affiliate program, third parties use unique links to your site or their content. The given links are known as affiliate links. When someone clicks on affiliate links and purchases something, the affiliate gets a cash commission from the business.
Automated Affiliate marketing software helps you to recruit affiliates. This easily sets up unique links. And track sales created through each link using cookies and pixels. By choosing the right affiliate marketing software, you can get your top affiliate partnership, and compensates affiliates all in one.
Is Affiliate Marketing Right For You?
Affiliate marketing is perfectly more than what you think. This is great if you want others to promote your business. And want to compensate them with a commission or any kind of payment.
Affiliate programs work best for e-commerce or online business. Studies show that sore credit or upgrades are reward incentives.
Marketing using the affiliate marketing platform is a great choice. If you can find one with an existing relationship with your product. Compared to all types of marketing, this is best when partnership tends to be natural. Also, this can take time before giving your results. This is why it’s important to choose your partner wisely.
How affiliate marketing software works
List Of Best Affiliate Marketing Platforms to Use in 2023
Impact
Rating
4.6/5
Best for:
Brands, publishers, and agencies
Impact Affiliate Marketing Software
Impact affiliate software is a type of application that enables businesses to track, analyze, and report impact. It focuses on issues such as impact factors or variables and the impact they have on performance. By accurately capturing this data and providing insights into the impact these measures have, impact software can help organizations understand the impact their decisions have on the organization’s goals and objectives. It helps them make better-informed decisions that result in tangible business value. Impact affiliate marketing software offers visibility into areas of performance that would otherwise remain unnoticed. This visibility provides invaluable information for organizational success.
Key Features of Impact:
Impact software is one of the most advanced pieces of software in IT today and has key features that make it stand out from other solutions.
It allows users to quickly process large amounts of data, ensure accuracy and consistency, create presentations, and share documents with ease.
The software includes built-in analytics and reporting modules that allow users to measure results quickly and efficiently.
With customizable workflows and advanced security protocols, users have peace of mind knowing their data is secure from any unauthorized access.
Impact software truly provides a comprehensive solution for all your business needs.
Key Benefits of Impact:
Impact has a multitude of benefits that extend beyond the personal level and build up entire communities. Impact promotes change, brings people together, and encourages personal growth.
It acts as a catalyst for progress and has the power to create lasting positive effects. The effort put into making an impact can bring about benefits on a macro-level, such as improved economic opportunity, increased access to resources, or policy reforms.
On a micro-level, benefits can include increased confidence in individuals and a sense of accomplishment and satisfaction in being part of something larger than oneself.
By engaging in impactful activities one can not only help their community but also experience the benefits granted by the act of giving back.
Pros
The pros of impact software are undeniable. Its user-friendly interface, allows users to become familiar with the system quickly and easily.
It enables automatic data integration from different sources within an organization. This can provide businesses with a deep-level analysis of customer behavior and preferences that allow for better decision-making.
It reduces the amount of manual work associated with consolidating operational data which leads to significant cost savings and faster implementation times.
Impact software is also designed in a way that does not require any technical expertise or IT support for implementation; this makes it an ideal choice for organizations looking to maximize efficiency and minimize input efforts without dedicating large resources.
Cons
The main issue is the cost associated with these programs – they often require considerable investments in both time and money to ensure they’re configured properly, which can be a challenge if budgets are tight or time runs out.
Maintenance fees can quickly add up and the software may become outdated quickly if it’s not kept up with the latest updates.
It has too much reliance on complex technology means there’s a greater risk of disruption should something go wrong.
Impact Pricing Plans
Plans
Pricing
Free trial
Not available
Starter
$500/month
Pro
$2500/month
Enterprise
$5000/month
PartnerStack
Rating
4.8/5
Best for:
Any sized SaaS business
PartnerStack – affiliate marketing platform
PartnerStack is an amazing affiliate marketing platform that helps companies around the world leverage their partners to accelerate customer success. Partners in its network offer solutions and services from hundreds of partners including software developers, system integrators, independent consultants, and other technology companies. With PartnerStack, firms can identify ideal partners to work with, establish trust easily via the automated partner onboarding process, track partner performance, and deliver end-to-end customer success journeys. Its platform allows users to run programs at scale while freeing them up to focus on building their partnerships instead of dealing with complex partner lifecycle tasks. It integrates with existing business applications so customers can easily connect their systems and evolve as usage grows without disruption. In summary, PartnerStack is a comprehensive tool that makes it easy for companies to find the right partners and develop long-lasting relationships with them.
Key Features of Partnerstack
PartnerStack is an amazing partner relationship management tool that helps businesses centralize, manage and track their partnership campaigns.
Its key features include automated onboarding of new partners and doing away with the need for manual processes and documentation.
Its performance-tracking capabilities mean that stakeholders can quickly assess trends, key moments, and successes in real-time.
PartnerStack also allows for the secure distribution of rewards and incentives directly to the partners via a sophisticated automation system.
Advanced analytics tools provide performance insights so you can continuously fine-tune and optimize campaigns to maximize ROI.
With PartnerStack, all key areas of partner management are taken care of under one roof for maximum efficiency.
Benefits of PartnerStack
By automating partner tracking, payout, and onboarding processes, Partnerstack increases operational efficiency and saves time and resources.
Partnerstack’s robust analytics offer important insights into partnerships across the organization, helping reveal opportunities for improvement and long-term growth.
Partnerstack’s customizable interface allows you to create a tailored affiliate experience for each of your partners and explore their customer behavior in real time, giving you unparalleled visibility into performance.
Pros
PartnerStack offers a comprehensive suite of software solutions to help businesses maximize their affiliate partnerships. This can result in significant cost and time savings, as well as improved customer satisfaction.
PartnerStack’s platform is incredibly user-friendly and provides vital features such as automated tracking, reporting, payouts, and commission support.
With the help of PartnerStack’s advanced analytics capabilities, partners are able to gain real-time insights into their performance and can optimize their offerings accordingly.
PartnerStack allows users to create their own custom designs for landing pages, websites, or emails that can be used to promote affiliate programs more effectively.
By turning complex management processes into efficient and simple operations with the pros of PartnerStack, businesses can now focus on building meaningful relationships with their affiliates and expanding their reach faster than ever before.
Cons
One of the notable disadvantages is that it charges a percentage of the partner’s commission instead of a flat fee for using its services. This can be burdensome for partners, especially those with lower commissions to begin with.
PartnerStack does not offer customer support beyond initial onboarding and setup, so customers may feel left without assistance when an issue arises.
PartnerStack only supports English language operating dashboard interfaces since most of its users are based in the US; there is no translation feature for non-English speakers which can make navigation more difficult.
PartnerStack Pricing
They provide a personalized pricing plan according to your requirements, wherein you have to fill out a form available on their website reiterating your requirements.
ClickMeter
Rating
3.9/5
Best for
Small and Mid-Size Businesses, Large Enterprises
Learn About ClickMeter
ClickMeter is web-based marketing software. This allows advertisers to monitor, compare, and understand marketing campaigns. It records activities that occur on different channels and reports about status.
Using ClickMeter, merchants discover people who visit certain pages on their site, their location, and the interests they have in buying. Analyzing such data, they can concentrate on campaigns that make money for them.
Additionally, ClickMeter monitors work in real-time. To allow users to make decisions for the most updated information.
Key Features Of ClickMeter
Easy Set-up & Use ClickMeter is straightforward software. You don’t require any in-depth technical knowledge. It means that anyone can use tools. This includes ease to monitor and understand marketing efforts.
Campaign Monitoring Using ClickMeter, everyone can monitor campaigns and their comparison. By this, you can identify the paying off efforts. And through which they can boost or retire. Now you can focus on efforts that are growing your business.
Click Fraud Protection Click fraud protection is advertising malpractice. This drains advertisers’ revenue. To make this safe, this deploys measures. That assures only legal clicks. That is recorded and monetized.
Real-time Results & Sharing Click meter understands that people need to provide the client with updated information. To solve this, it provides real-time data. So that they can share using private or public modes.
Pros
It is entirely web-based.
It enables tracking and distinguishes between genuine human clicks and automated clicks on your links.
It enables you to monitor the clicks in your campaigns that result in conversions.
Detailed analytics for your reports, including information on IP addresses, devices, and traffic locations.
It enables you to recognize fake clicks.
You may monitor the uniqueness of clicks made on your URLs.
It enables you to monitor all of your traffic sources.
More than 100 distinct functions, including targeting, tracking, integration, and many more, are available in ClickMeter.
Cons
As great as Clickmeter’s free account package is to get started, it only allows 1,000 events per month and most people seeking completely free tools find the paid package to be too expensive.
Additionally, while Clickmeter is reliable with the Google Chrome browser, compatibility with other browsers can be limited.
ClickMeter sticks with email support instead of offering telephone or online chat support options.
Referral Rock is an online referral marketing solution developed to help businesses get more customers using their network. Online and offline businesses can now design incentive-based programs. You get to enroll customers and partners.
Capture new leads and sales and payout the rewards. This affiliate marketing software works with any type and size of business. It can be integrated using the embeddable widget, referral website, and registration. Also, the online or offline conversion tracking.
Referral rock software automates various steps in the process. So that the business can scale and measure the success of referral programs. This software also supports integrations with many leading e-Commerce business systems. Such as HubSpot, WordPress, Magento, WooCommerce, and many more.
Referral Rock – Communicating with Visuals
Key Features Of Referral Rock
Referral Rock always treats customers with a solution that has an easy design. It also offers tons of personalized possibilities.
Businesses get to use brand images and colors. This is for the complete customization with text and messages.
Any business can create custom email templates for its customers.
Designed and developed a way to ensure all marketing lead to success.
It has practiced such as dual-sided incentives, social media sharing user dashboards, in-depth statistics, and many more.
This offers fraud detection capabilities. Which is not delivered by competing alternatives.
Users will get to maximize the marketing campaign with reward payouts. You can also get gift cards, prepaid visa cards, and coupons.
Pros
Referral Rock offers advantages and features that make it the ideal choice for customer relationship management.
It can easily be integrated with HubSpot, allowing users to have a reliable source of customer data.
The Admin dashboard provides helpful reports and insights, while the widgets make adding content to your website hassle-free.
The flexibility and customization options offered by Referral Rock are key advantages; they’re designed to help you get more leads and convert more customers.
With Referral Rock on your side, businesses can reach their goals faster and easier than ever before.
Cons
Effective output is possible, but the process of manipulating text within the software can be challenging due to occasional technical glitches.
Users must note that their options for reporting are somewhat limited.
Refersion, the leading affiliate marketing platform
Refersion is a simple and integratedaffiliate marketing platform.You can signup very quickly for both brands and publishers. Using these businesses can see the real-time numbers of clicks and conversions.
This will help businesses to know the channels of users. Also the time they peak to use knowledge for future strategies. Refersion makes it easy for affiliate marketers to know the brands currently making an offer.
Key Features of Refersion
Integration of E-commerce platform
Commission, payment, and tax automation
Dashboard customization available
Create real-time and easy-to-read reports
On-boarding webinar for new customers
API Documentation
Key Benefits Of Refersion
Straight Forward Set up To start, you need to connect this software to your online shop. You can create an affiliate reward program that will be on your terms. Also, you can customize the look of the platform interface.
Real-Time Results Refersion provides business reports and results based on real-time data. This helps you in making a decision based on the latest information. To leave a maximum impact on your marketing activities and partnerships.
Automated Processes Rather spending lots of time on manual tasks. You can automate it instead to focus on other things. This is why it provides automated commission payouts. This makes it convenient for you to ensure that each partner gets paid in due time. Additionally, Refersion keeps you updated all the time with performance reports. You can set these to be delivered on a daily, weekly, or monthly basis. So the users would not need to generate reports.
Visible Payment Structures To improve your partnerships, this software makes commission and payment schemes visible. Transparency results in building trust. Also, it makes sure that publishers get to know what they are signing up for.
Pros
Refersion’s system offers an unparalleled user experience with seamless tracking of affiliates and smooth payouts.
Their extensive integration capabilities make it easy to use on all major e-commerce platforms.
They provide reliable customer support for a truly stress-free service.
Brands can use Refersion to automatically manage the commissions they must pay to their affiliates.
Cons
Not tracking across devices
Confined API
Pricing For Refersion
Plans
Pricing
Free Trial
Available
Starter
$19/Month
Professional
$89/Month
Enterprise
By Quote
Post Affiliate Pro
Rating
4.8/5
Best for
Medium and Large Sized Businesses
Post Affiliate Pro
Post affiliate pro is a powerful software for online stores and websites. This helps you to track and monitor your affiliate network. Many businesses offer online services and goods that are required for affiliate marketers. This helps you to drive customers to your website and increase sales.
Using this software, it becomes easy especially when the network becomes huge and numbers grow. It monitors your commission payout. You only have to pay a commission when a purchase is made and completed.
Post Affiliate Pro – Product Demo
Key Features of Post Affiliate Pro
Advanced Analytics
Comprehensive Report System
Wide Range of Advanced Tracking Links
Affiliate/Commission Groups
Support Multiple Currencies
Affiliate Fraud Detection and Protection
Benefits of Post Affiliate Pro
It maintains and monitors your affiliate network’s performance.
This accurately pays commissions to affiliate marketers directly.
Also, improves SEO with external affiliate links.
Post Affiliate Pro allows the application to grow with the business.
You will get easy integration with API.
Pros
Post Affiliate Pro integration abilities with most WEB CMS/Payment/Marketing solutions provide a seamless experience.
The reasonable pricing gives you the best value for your investment.
Generating dynamic affiliate links is an effortless task and can be completed quickly; plus we have great tracking tools to ensure the complete accuracy of data.
Cons
The product is a powerful solution, but making full use of it requires familiarization with PHP in certain scenarios.
Its interface and instructions could be improved for enhanced user experience – making integration with popular platforms such as Salesforce or HubSpot more seamless.
This is a fully customizable and scalable program tracking software if you want to help you grow and maintain your e-Commerce business. This has the feature to address various requirements. This is easy to use and offers to set your program without much guesswork required.
You can control all aspects using its customization and automation tools. You will get to add marketing assets to the platform. This reflects in creating white-labeled affiliate pages. It gives you access to a dashboard and a set of reporting tools. Also, allows you to keep track of your performance.
Using Tapfiliate, you can create a commission structure and automate the payout. The platform has methods as well. This gives you flexibility after incentivizing your partners. This tool has 30 plugs and plays integrations.
Key Features Of Tapfiliate
Set your Affiliate Program in No Time Tapfiliate is easy to set. You can start affiliate program monitoring without any technical skills. You just need to integrate this software with your e-Commerce website and arrange an affiliate program.
Meet your Business Needs Tapfiliate is adjusted to any type of business needs. It offers affiliate marketing solutions for small websites. This is for loads of functionality for larger businesses.
Payout and Commission Workflows Tapfiliate automation tool makes it easy for companies to set and assign payouts to affiliates. You can set your commissions and payout system and focus on your core tasks. You can set performance bonuses for affiliates and influencers.
Create An Engine of Growth of Word of Mouth Marketing The features make this easy to automatically invite new customers to promote your brand. It helps you create shareable invitation emails, social media posts, and many more.
Provide All-Around Experience You will get a tracking capability that is genuinely your own. From the referral links to dashboards, you can customize them to fit the brand and domain perfectly. You can create an affiliate signup page and white-labeled affiliate pages.
Pros
Get a free 14-day trial to customize your eCommerce experience with numerous automation options, integrations and rewards for businesses and affiliates alike.
Quickly build white-labeled affiliate pages, get up-to-date analytics from the dashboard or use multiple setup guides in over 15 languages all while having great customer support. Unlock powerful operations now!
Cons
Learning curve at the beginning
The cost can put off start-ups and small businesses.
Tapfiliate Pricing Plans
Plans
Pricing
Free Trial
Available
Essentil
$69/Month
Pro
$149/Month
Enterprise
Contact Vendor
Tune
Rating
4.2/5
Best for:
Freelancers, Small and Medium-Sized Businesses, Large Enterprises
Experience Tune Affiliate Program Monitoring Software
Tune is a partner market software. This tool is used to build, maintain, and grow partner programs. Tune is a customizable and flexible SaaS platform that powers marketing relationships. This is used by several advertising affiliate marketers and brands.
This tool enables you to provide you a branded partner experience. Tune provides you with various solutions such as personalized dashboards, saved reports, and white labeling. This permits you to work with automation tools and postback capabilities.
Key Features Of Tune
The tune doesn’t require any signup fees or contracts. You just need to start and pay per month based on your needs.
At the same price, you will be provided with reliable customer support and a featured development cycle.
This platform offers an automatic interface. You can start developing campaigns in minutes. And use the maximum potential to customize performance advertising.
Tune is a preferred top system for being a single, advanced tracking, measuring, and managing publishers.
Data will flow automatically in your software. There will be no need to do manual data entry.
This platform supports agents to communicate with clients and organize live training.
Pros
Tune is the pinnacle of user-friendliness, offering unbeatable customer service.
It has an unparalleled onboarding process with unmatched features on our dashboard.
Cons
Exploring the discovery network to forge valuable partnerships can be a complex affair.
Custom coding is required to create an effective resources page, while introductory emails are often sent off in vain – with no active or appropriate contacts on the receiving end.
Freelancers, Small and Medium-Sized Businesses, Large Enterprises
PayKickStart – Top Affiliate Marketing Software
PayKickStart is an automated and customizable solution for all of your business needs. This has a wide range of conversion boosters to increase sales. This software offers you several options for email, payment gateways, membership signups, and monitoring. This also includes integration for analytics and developer tools.
There is no need for a third-party tax service. Because it has a tax system compliant with sales and VAT tax collection. PayKickStart charges 0 additional transaction rates for vendors and customers. The features vary according to the number of services you opt for.
This tool provides monitoring and reporting for all transactions and activities. It provides virtually all the necessary tools to maintain your online stores.
Paykickstart Affiliate Marketing – Step By Step Guide
Key Features of PayKickStart
Fraud Detection
Dunning management
Affiliate Management
Banner Management
Commission Management
Customizable Checkout Options
Key Benefits Of PayKickStart
Sell Anything There is no restriction on the type of product. You can sell physical or digital goods or services.
Multiple Payment Options You can accept payments from customers using PayPal and credit cards. You can create payment plans including one-time payment, free/paid trials, setup fees, and more.
Choose your Checkout Page You can make your checkout pages, widgets, and form embed. It will reflect your brand by customizing through API.
Detailed Reporting It generates reports to check the status of your sales, revenue, and many more.
Pros
PayKickStart is quickly becoming the preferred platform for payment processing.
It offers a variety of features that make it an attractive option for businesses and individuals like Coupon Code Management and 1-click upsells
PayKickStart offers more secure checkout systems, protected data storage, and fast integration with existing stores – all of which are compelling reasons to try it out.
Cons
The downside is that they don’t offer as many payment options as competitors
They have higher fees than some counterparts.
PayKickstart Pricing Plans
Plans
Pricing
Free Trial
Available
Basic
$29/Month
Professional
$99/Month
Premium
$149/Month
Affise
Rating
4.6/5
Best for:
Freelancers, Small and Medium-Sized Businesses, Large Enterprises
About Affise Performance Marketing Software
Affise is a performance marketing software. Affise was designed and developed for advertisers, agencies, and marketing professionals. You can multiply your revenue exponentially and get huge returns.
This offers you to use any traffic sources. You only have to pay for conversions. You will get the best CPA technologies such as unique links, caps, bids, and more.
Key Features of Affise
It helps you to use low-conversion traffic sources. You are not paying for the clicks. Affise provides you save 90% of your costs.
Integrating it and other custom software is a simple process. This also allows you to use flexibility and versatility.
The smart targeting capability offers you maximizing ROI. specifically, it targets campaigns using preferences language, location, and cities.
It offers over 49 slices of data. This gives you an insight into data that you can use.
Pros
Affise includes features such as offering access to premium advertising networks, and detailed and real-time statistics allowing for greater analysis.
It provides a unified tracking dashboard for quick reference and visibility, customized offers, smooth integration with any platform, and fraud protection.
It guarantees to ensure maximum ad security.
Affise empowers businesses to optimize their traffic sources worry-free and maximize their ROI quickly and efficiently.
Cons
The software still lacks real-time analytics features which means designers have limited access to their data when reviewing conversion performance.
The design interface can become faulty at times due to poor UI navigation, making it difficult for users to assess the information important for them.
Manual reports generated in Affise can take considerable amounts of time since the software does not feature automated reporting options just yet.
Freelancers, Small and Medium-Sized Businesses, Large Enterprises
Tacking using the AffiliateWP Affiliate Program
AffiliateWP is an affiliate program creation software for WordPress. It works as a plugin that hosts tools. These tools offer businesses to increase profits. You can create partnerships with affiliates.
You get to drive traffic to your site, which boosts the chances of converting window shoppers into buying customers. It can be integrated with more than 20 e-Commerce platforms.
Key Features of AffiliateWP
Activity Tracking
Commission Management
Performance Metrics
Real-Time Analytics
Affiliate Management
Third-Party Integrations
Key Benefits For AffiliateWP
Network Control Merchants can now command the creation of an affiliate program. This indicates that you can track and maintain affiliates you want to. Also, you can set up your affiliate payment scheme.
Integrated Management This software makes use of WordPress to create affiliate tracking and maintaining the website. This offers you to navigate the website easily. The management process is very effortless. Now managers can view and edit affiliate accounts.
Affiliate Area Partners can now track their performances, creative content, and future payout view.
Real-time Reporting It provides users with real-time information about affiliates. It contains all the data in the report and graph form. This gives a clear overview of events and activities. Also, allows you to make informed decisions.
Pros
AffiliateWP is an effective and efficient plugin that can boost your affiliate program in no time.
It is pretty user-friendly, and its navigation makes it easy to get the hang of as you begin to build your affiliate team and program.
It has a wide range of features, including automated payments, real-time reporting capabilities, extensive tracking options, support for multiple commission methods, custom reports generation, and much more.
Cons
The most significant drawback is the learning curve involved, as users need to become familiar with navigating and managing the platform.
Additional cons include a lack of automation, limited reporting capabilities, and relatively high costs depending on the features utilized.
User experience can vary significantly based on their WordPress theme, as certain themes may be incompatible with AffiliateWP or produce visual or functional issues.
AffiliateWP Pricing Plans
Plans
Pricing
Free Trial
Not Available
Personal
$99/Annual Payment
Plus
$14/Annual Payment
Professional
$249/Annual Payment
Ultimate
$499/Annual Payment
Vene Dash
Rating
4.8/5
Best for:
Small and Medium-Sized Businesses, Large Enterprises
Vene Dash Affiliate Program
Vene Dash is reliable marketing software. This is designed to monitor, analyze, and manage affiliate campaigns. It lets you see the site visitor clicks, clicks converted to sales, profits, and revenues.
Charts and graphs are being reflected on the dashboard. To safeguard from invalid conversions and fraud activities. This is equipped with a fraud protection feature.
Key Features of Vene Dash Software:
Activity Dashboard
Affiliate Management
Commission Management
Conversion Tracking
Email Templates
Activity Tracking
Key Benefits Of Vene Dash
Campaign Tracking and Reporting It has features that let you track the performance of every campaign. It also gives you a campaign’s monthly performance. So that you can identify trends and problems in your marketing strategy.
Digitized Billing and Invoicing You can prepare invoices and request payments digitally through the platform. It eliminates the task of recording and storing invoices. It records the billing information of affiliates. This includes the amounts due and the scheduled payments.
Multiple Modes of Payment It gives you the power of choice for making and receiving payments. It supports models such as CPI, CPO, CPA, and revenue sharing. This also supports cryptocurrency payments.
Easy to Navigate Functions Its dashboard lays out all functions on the main menu. The software opens up and it reflects site clicks, conversion rates, profit, and revenue. All this with a chart of the campaign’s monthly performance.
Pros
Vene Dash is a popular choice among today’s digital marketers due to its powerful analytics and reporting tools.
One of the biggest advantages of Vene Dash is that it enables marketers to have a detailed view of their campaigns’ performance in real-time, making it easy to determine which strategies are working, as well as which need improvement.
Vene Dash makes it easier for marketers to quickly take action based on the data they collect and make changes accordingly.
Vene Dash offers extensive custom reporting options that can be tailored according to the most important metrics for each campaign, allowing marketers to gain insights into marketing performance from multiple perspectives.
The key benefit of Vene Dash is its user-friendly design that makes navigation and data interpretation effortless.
Vene Dash works with a variety of platforms including Google Ads, Facebook Ads and many more, enabling users to save time by managing campaigns across multiple channels from one central location.
Cons
The cons of Vene Dash are mostly related to user experience. For example, certain features can be difficult to navigate as the interface is quite technical and overwhelming for beginners.
Any changes made to networks often requires additional setup which can be a tedious process for some users.
The platform’s native token isn’t generally used commonly among other projects and trading pairs due to the small size of its community when compared with larger industry players like Ethereum and Binance.
Its integration of third-party technologies may nullify certain benefits from the platform by making it more challenging for users to learn how to control their assets without help from centralized intermediaries.
Freelancers, Small and Medium-Sized Businesses, Large Enterprises
Scaleo – cloud-based affiliate marketing software
Scaleo is an award-winning cloud-based affiliate marketing software that has its headquarters in Prague, Czech Republic. The company allows its users to track, analyze, and optimize their affiliate business and affiliate marketing campaigns in real time, with the help of cutting-edge AI technology. Scaleo is suitable for networks, businesses, and media buyers, as they can easily optimize traffic sources by cutting out fraudulent traffic and focusing on quality conversions. The platform is also integrated with numerous 3rd party technologies.
Key Feature of Scaleo:
It provides a fresh interface.
Instant access to the trial period without the credit card details.
Integration with numerous popular platforms.
Detailed analytics with more than 30 data points.
White label solution with UI customization.
Designed especially for entrepreneurs, businesses, startups, and media buyers.
Pros
Scaleo is an online platform used to integrate an organization’s financials, analytics, and apps into one seamless system.
There are quite a few pros to using Scaleo for businesses, such as saving time since an organization doesn’t need to switch between multiple applications or manually enter data.
Scaleo provides reporting and analytics capabilities that can help organizations better understand their financial performance and better plan for the future.
Scaleo enables organizations to automate processes that would normally have been done manually, improving efficiency and allowing employees to focus more of their energy on core business tasks.
Cons
A major con of using the platform is that it typically requires a significant amount of data entry at the outset to set up accounts and get your system running.
Getting up and running with Scaleo often involves an extensive onboarding process and can take time away from completing other important tasks.
Additionally, even after the initial setup is complete it can still be difficult to find solutions to any problems you may encounter as the customer support team is usually quite limited in terms of response time.
Although Scaleo has some features for tracking analytics and metrics, these tend to be limited when compared to similar platforms that offer more robust reporting capabilities.
Scaleo Pricing Plans
Plans
Pricing
Free trial
Not available
Professional
$299/month
Enterprise
$499/month
Custom
$999/month
Kartra
Rating
3.9/5
Best for:
Freelancers, Small and Medium-Sized Businesses, Large Enterprises
Kartra – all-in-one affiliate marketing platform
Kartra is an all-in-one affiliate marketing platform that will out hours of daily work and helps you run your online business easily. With the help of Kartra, you can research, configure and experiment with a plethora of platforms that are provided in multiple categories. The platform allows you to turn on a host of automation options based on your recipients’ behaviors, such as watching a video or opening an email. It is also capable of sending follow-up messages, assigning tags, and adding marketing sequences among others.
Key Feature of Kartra:
Detailed analytics for real-time campaign stats and customer status.
It has an option of a drag-and-drop page builder with many professionally designed templates.
Build your leads, prospects, and customer database and organize them in theme groups.
Flexible shopping cart that offers coupons.
Complete Affiliate Management with Account Oversight.
Create live or automated email/SMS marketing campaigns to engage with their target customers.
It has features such as visually appealing pages, easy user interface tools, robust email campaigns and automated sequences, Kartra easily stands out from the competition.
It provides a comprehensive suite of tools to help users build successful businesses online and offers world-class customer service resources to ensure they are well taken care of.
The automation functionality allows users to create intricate campaigns and sequences with minimal efforts, drastically reducing the time it takes to perform complex tasks like lead nurturing and segmentation.
Kartra integrates seamlessly with other popular services such as LeadPages and Zapier for further efficiency.
Kartra’s features effectively reduce time spent on setting up marketing processes by automating tasks so users can focus more on effortful elements of their business.
Cons
One of the prevailing cons of using Kartra is its pricing – some users argue that it’s too expensive in comparison to other software. This can make it out of reach for smaller businesses or online entrepreneurs without a lot of capital to invest in specialized tools.
Kartra lacks the ability to link up with certain APIs, which may limit relationships with third-party applications. Although both features have improved since the launch of Kartra, there are still restrictions when it comes to what users can do within the platform.
The reviews have also raised complaints about slow response time and tech support not being able to adequately address users’ issues.
Kartra Pricing Plans
Plans
Pricing
Free trial
Not available
Starter
$99/month
Silver
$199/month
Gold
$299/month
Platinum
$499/month
LeadDyno
Rating
4.2/5
Best for:
Small, Medium, and Large businesses
LeadDyno – a market leader in affiliate tracking technology
LeadDyno is a market leader in affiliate tracking technology and affiliate program management, with headquarters in Sacramento, California. The company was started in 2014 and has so far tracked more than 70 million referrals, while their clients have generated an estimated $200 million in affiliate sales. The company is known for its services under affiliate program management and tracking technology. With LeadDyno, you can allocate your online advertising, and manage your affiliates and their payouts easily.
Key features of LeadDyno:
Real-time click and affiliate commission tracking.
Onboard affiliates are made easier.
Tools to engage your affiliates and help grow your program.
It also has automated marketing.
It also allows its users to do email marketing, social media integration, and referral tracking.
Pros
LeadDyno is an efficient, secure, and cost-effective way to run a successful affiliate program.
It allows merchants to approve, customize and monitor their affiliates within minutes.
LeadDyno’s platform offers easy integration with most popular shopping carts, zero maintenance costs for stores, detailed tracking of click throughs, conversions and sales, digital channel attribution, reliable payment protection, and more.
Its real-time analytics offer instant insights into program performance so companies can easily adjust strategies as needed.
The user-friendly dashboard gives merchants the ability to customize their campaigns within minutes by taking advantage of LeadDyno’s helpful filters such as geographic location, device type, and other target criteria.
Cons
One of the main disadvantages of LeadDyno is its cost, it can be prohibitively expensive for some businesses.
Additionally, LeadDyno does not come with its own payment gateway, so businesses need to purchase one separately in order to enable a fully integrated affiliate program.
Some people find the tracking and reporting capabilities of LeadDyno to be inadequate, as they see better options available from other providers.
There are limited customization options when it comes to the look and feel of their interface. Although this may not be important to all users, it can be important for creating a consistent customer experience across websites.
LeadDyno Pricing Plans
Plans
Pricing
Free trial
Available
Starter
$49/month
Biz Builder
$59/month
Accelerator
$79/month
Offer18
Rating
4.7/5
Best for:
Small, Medium, and Large businesses
Offer18 – Affiliate Software
Offer18 is a performance-based Affiliate Software that is designed especially for ad networks, advertisers, and affiliates with professional tracking capabilities. The company has its headquarters in Mohali, Punjab, and is a leader in performance tracking platforms. Offer18 helps digital professionals to create their own affiliate network by using in-built advanced tools of technology. One of the best features of affiliate marketing software – Offer18, is that it efficiently tracks online offers or campaigns.
Key Features of Offer18:
Track online offers and campaigns.
It has a dedicated account manager and 24X7 support.
Unique clicks like whitelisting/blacklisting IPs and allowing or blocking specific countries.
Besides that, it has usual features like Email Marketing, Goal Tracking, Multi-Campaign, Affiliate Tracking, etc.
Offer18 is not just an easy-to-use platform, but it also helps match users with offers that are tailored to their skill set and interests.
Payments are timely with Offer18 and there are no joining or annual fees.
The referral program allows users to earn even more from their referrals, adding to the benefits of using this system.
Offer18 has a dedicated customer service team that is available 24/7 in case users need help or have questions.
This comprehensive list of features makes Offer18 a great option for anyone looking for an easy way to monetize their skillset and make money online without any hassle.
Cons
Increased complexity may be one of the cons of Offer18, as users must learn and understand the specific platform in order to effectively use it.
Processing times and fees can also be rather high when using Offer18 for certain transactions, which means users may end up spending more than they intended if not diligently evaluate all associated costs.
Offer18’s customer service experience may be subpar for those who have questions or require technical support, this could lead to frustration and further added expenses if a problem isn’t solved in a timely manner.
Offer18 Pricing Plans
Plans
Pricing
Free trial
Available
Unit based
$49/month
Conversation Basic
$149/month
Conversion Enterprise
$349/month
iDevAffiliate
Rating
5/5
Best for:
Freelancers, Small, Medium, and Large Businesses
iDevAffiliate – top Affiliate Software
iDevAffiliate is one of the top Affiliate Software that helps your program grow. With this platform, you can grow your sales, increase your traffic and strengthen your CEO all at once. iDevAffiliate is designed for both beginners and seasoned affiliate managers. This affiliate platform can be used by businesses to achieve more sales, traffic, and SEO ranking with its built-in templates and integration modules. And another positive about the platform is that it only takes minutes to easily integrate it into your existing website.
Key Features of iDevAffiliate:
Build stronger SEO with proven SEO linking structures.
Localization of tools like adding default currency.
Monitor affiliate-referred leads and commissions them.
Has options to restrict, and block affiliate and visitor activities.
Customize everything from your logo to the color scheme, layout, theme, and language content.
It has 28 professionally translated languages.
Pros
It allows businesses to track sales and commissions quickly, enabling them to assess which areas of their affiliate programs are performing best.
Its ability to assign customized tracking links helps in understanding customer behavior and preferences better.
The admin panel provides a straightforward way of setting up and monitoring the scope of affiliates across networks.
Another great aspect is that there’s no need for manual coding or programming, making it easier for users without technical know-how to join in the fun.
Cons
Its pricing structure is set up such that it may be cost-prohibitive for smaller merchants – the standard version of the software charges a one-time fee plus an extra fee per merchant.
Additionally, its product integrations with many shopping platforms can be complex and difficult to customize beyond its default settings.
Customer support can be spotty depending on the time of day when assistance is needed.
iDevAffiliate Pricing Plans
Plans
Pricing
Free trial
Not available
Cloud
$39/month
Cloud Traffic
$59/month
Cloud Premium
$79/month
Everflow
Rating
4.8/5
Best for:
Large businesses
Everflow – top affiliate marketing software
Everflow is a sophisticated affiliate marketing software designed to help businesses maximize their profits. By providing users with an all-in-one platform, Everflow offers insights and automation to drive more conversions and customer engagement. With tools such as A/B testing, customer segmentation, data segmentation, and performance optimization, Everflow helps businesses build campaigns that are tailored to customer needs. Furthermore, the software provides useful analytics so companies can analyze customer behavior in real-time and make better decisions about their marketing efforts. With Everflow’s innovative technology, businesses have the ability to stay ahead of their competitors and better service their customers.
Key features of Everflow
Everflow is a powerful tool for tracking key performance metrics related to user engagement, marketing campaigns, and customer retention.
It provides actionable insights on how to optimize key elements of the user experience and increase ROI from marketing activities.
Its key features include detailed analytics such as CTRs and conversion rates, live data such as traffic sources and page views, custom reports with ready-made graphs and charts, integration with other existing marketing tools, and customizable dashboards for easy navigation.
It is constantly improving its capabilities by periodically releasing new features such as predictive analysis and cohort segmentation.
Everflow enables businesses to track key performance indicators that are essential in acquiring customers quickly while staying within budget.
All in all, Everflow is a great tool for businesses due to its automation power, user-friendly UI, reporting functionalities, and many more useful features.
Key Benefits of Everflow
Everflow software is an invaluable tool for many businesses, providing a range of benefits that can make the work life of any entrepreneur or business owner much easier.
This powerful program helps to automate many processes, saving precious time and money. It also allows you to better manage your finances and resources, enabling you to stay organized and always have accurate tracking and real-time insights.
Its integrated systems make it easy to keep in contact with customers while creating smooth data flows between departments. All of these benefits make Everflow software a highly effective solution for businesses of all sizes.
Pros
One major pro of the platform is its ability to automate operations and processes.
Instead of manual task management, Everflow allows businesses to set up automated workflows and tasks, saving time, and money, as well as preventing missed deadlines.
It greatly increases workflow efficiency which helps maximize resources and increase productivity.
Everflow provides excellent user interface capabilities which promote collaboration and make things more organized without difficulty.
It also has effective reporting capabilities which make tracking progress simple and fast, making it easy for business owners to follow up on their tasks.
Cons
One of the cons of using Everflow is that it does not offer a wide range of customization options for its users.
Although Everflow does provide users with an array of templates to help design a website or online store, those templates are limited in capability.
Unlike many other popular website development tools, Everflow doesn’t support HTML or CSS customization, making it difficult for developers to truly customize websites to meet the needs and brand identity of individual companies. This lack of flexibility can also hinder the ability for businesses to keep up with industry trends since they’re restricted by what is available through the platform.
In order for companies to have a dynamic web presence, it’s important that their websites have greater control over design features so they can continuously evolve and remain competitive.
Everflow Pricing Plans
Plans
Pricing
Free trial
Available
Starter
$750/month
Everflow Plus
$1995/month
ThirstyAffiliates
Rating
4.6/5
Best for:
Bloggers
ThirstyAffiliates Software
ThirstyAffiliates is an innovative all-inclusive affiliate marketing suite, uniquely designed to help you make more with your marketing efforts. This software offers intuitive, powerful tools that help you track and optimize your campaigns, plus the ability to quickly connect with a range of networks and programs. With ThirstyAffiliates an incredibly easy-to-use tracking toolkit, you can identify key trends or patterns in your campaigns from the beginning. You even have the opportunity to set up automatic notifications so you don’t miss out on valuable opportunities. Meanwhile, the intuitive navigation provides helpful suggestions that can keep your campaigns focused and on target. Finally, its integrated support system allows you to contact professionals who specialize in everything from setting up a website and designing an ad campaign to optimizing customer lifetime value metrics.
Key Features of ThirstyAffiliates
ThirstyAffiliates is a powerful plugin for WordPress that helps users to create and manage affiliate links from an easy-to-use interface.
Key features of ThirstyAffiliates include an intuitive drag-and-drop link editor, automatic affiliate link replacement for content, an organized database that records all clicks, as well as tracking and reporting options.
It integrates with most major eCommerce solutions such as WooCommerce, Easy Digital Downloads, Amazon Associates, and many more.
With ThirstyAffiliates, users can take advantage of advanced features to maximize their affiliate revenue and ultimately help expand their reach on the web.
ThirstyAffiliates provides various features like Autolink Keywords, Amazing Reports, Geolocation Links, Smart Uncloaking, Proactive Link Fixer, Automatic 404 Checker, CSV Import/Export, and 3rd Party Link Importing.
Key Benefits of ThirstyAffiliates
Your affiliate link will be linked immediately when you provide the keywords. Thousands of affiliate marketers and bloggers all around the world have confidence in ThirstyAffiliates.
It will enable you to use affiliate marketing to monetize your WordPress website and is compatible with all affiliate networks.
The plugin is incredibly easy to set up and utilize.
Pros
It has the ability to monitor progress on multiple campaigns at once, and exceptional customer service.
Its easy-to-use interface allows users to quickly build more organized campaigns, automatically post links and generate detailed analytics reports for maximum efficiency.
By leveraging its suite of time-saving features, users can save hours per project, quickly earn money from it, and keep track of progress by receiving timely notifications of changes in data trends.
The comprehensive customer support offerings from ThirstyAffiliates ensure users get help when they need it – along with plenty of resources to help them maximize their results.
Cons
One of the cons to using ThirstyAffiliates for affiliate marketing is that it does not offer comprehensive tracking capabilities.
Affiliates need thorough insights into their performance in order to make necessary changes to their business strategies and increase their profits, but this platform does not provide those insights in a comprehensive manner.
It also lacks automation capabilities that would be useful to streamline more mundane tasks, so affiliates have to spend time doing them manually.
It has limited support options available compared with other platforms which could be an issue for less tech-savvy users.
ThirstyAffiliates Pricing Plans
Plans
Pricing
Free trial
Not Available
Basic
$79.50/month
Plus
$129.50/month
Advanced
$199.50/month
Conclusion
Automated Affiliate marketing software can help anyone to set up and maintain multiple campaigns. All this under a single time frame to boost the customer base. Since this is your responsibility to choose the best of average to get better returns. Hope you got what you were finding!!
FAQs
What is Affiliate marketing?
Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate’s own marketing efforts.
Do affiliate websites make money?
Yes – but only if you put in the time, effort, and education needed for them to earn. Some affiliate marketers actually show how much they earn on a monthly basis. So yes, affiliate marketing certainly is a legitimate business with websites that earn quite a bit of income.
How much can you earn from an Amazon affiliate in India?
There is no limit to earning from the Amazon affiliate program, you can earn as much as you can. There are some bloggers and YouTubers who are making thousands to lakhs through the amazon affiliate program.
How do I become an affiliate marketer?
Learn Affiliate Marketingin 7 Steps:
Decide on a platform.
Choose your niche.
Find affiliate programs to join.
Create great content.
Drive traffic to your affiliate site.
Get clicks on your affiliate links.
Convert clicks to sales.
How to start affiliate marketing in India?
The 5 step process for how to start affiliate marketing in India:
You find a product you want to promote.
Do a search for “product name” affiliate program.
Sign up for their affiliate program.
You get a special link that allows the merchant to track the people who clicked your link.
What is better AffiliateWP or Tapfiliate?
For overall product quality, AffiliateWP received 8.7 points, while Tapfiliate gained 8.9 points. At the same time, for user satisfaction, AffiliateWP scored 100%, while Tapfiliate scored 100%.
This article looks at the main changes that have occurred in the remote working and sub-contracting or outsourcing sector. It’s an important sector for small and emerging businesses to be aware of and keep up to date with the latest changes, so continue reading to find out more.
Increase in tech and blockchain options for work
Web3, crypto, and blockchain tech and software have become some of the major areas of work and employment in the current age. If you’re looking for contract work or to work from anywhere in the world, then the Web3, virtual and augmented reality, and cryptocurrencies and NFTs are those sectors that are growing fastest at the moment.
More ways to pay and reward than ever before
The manner in which employees can be paid and rewarded has changed forever. Whether they are rewarded with a unique NFT, or digital assets that hold value in the company, or are paid in crypto, employees now have access to a whole new way of being paid or rewarded for going over and above. There is a detailed explanation of the NFT sector provided by the professional platform OKX, and it is advised that those who are interested in such digital assets as payments should be as informed as possible. As a remote or contracted worker, it is important to look for additional sources and forms of income wherever you can, and being able to diversify the manner in which you are paid will go a long way to increasing the job possibilities that you are ready for.
The metaverse is making a massive change to where we can work
The metaverse is here and with the right tech, virtual and augmented reality has changed not only how we work, but also where we work. The jobs that may have required face-to-face contact have gone virtual, and as such, there will be a whole new range of jobs (and a new way of doing the jobs of old) in virtual or augmented reality. Freelancing and remote work has expanded exponentially as the metaverse becomes a reality. As headsets and the tech to implement a workable version of the metaverse becomes more real it is changing the nature of contract and remote work forever. It may be remote, but you’ll still be able to go into the office.
A better understanding of productivity in remote or outsourced work
The recent pandemic proved our ability to work from home and still be as productive as when working from the office. The tech has been proven, and as such, it is now simply about using it to produce the same quality and standards of work from anywhere in the world.
With the rise in remote and hybrid work, those entering the job market and young professionals are all now looking for ways to work remotely. It is about being able to develop a productive work-life balance, and many find that having the option to work from wherever you are (or simply from home) is one of the best ways to develop and institute a work-life balance that will serve to prolong your health, happiness, and hopefully also create some wealth.
This article has been contributed by Mr. Ratish Pandey, Founder of Ethique Advisory.
As companies look to navigate the post-pandemic operating environment, one thing is clear: Relationship building gets the front seat. The Covid-19 pandemic completely upended the traditional work environment bringing in a new norm of remote/hybrid jobs.
This new paradigm, like any other, has its pros and cons. On the one hand, remote working allows for better work-life balance and reduced travel stress. On the other hand, it does not bode well for building work relationships or a commitment to the organization, making retention a challenge.
The traditional employee annual turnover of 17-18% has shot up to 30-40% in the new normal. Employees cite a lack of motivation, engagement, and collaborative opportunities in the work environment as the reasons for quitting.
So what can companies do to foster workplace relationships and build positivity at work in the new normal of remote/ hybrid working? Let’s take a look.
Why are Positive Relationships at Workplace important?
Creating a high-performance work environment involves several moving parts, but a team with positive relationships is perhaps the most crucial influence on productivity, collaboration, and excellence.
Increased productivity
The impact of positive relationships cannot be understated.
It spans the relationships between colleagues, supervisors, and leaders.
Developing positive relationships at the workplace is the bedrock of employee engagement. It can lead to a 41% reduction in absenteeism and a 17% increase in productivity. When employees feel comfortable and supported, they are more likely to communicate openly by asking for help and offering assistance when needed. Employees feel a stronger sense of ownership, driving higher employee engagement, which is something that modern work environments are finding difficult to tackle.
Reduced Attrition
A recent Gallup report showed that only 36% of employees were actively engaged in the workplace, costing businesses between $450 and $500 billion each year.
Creating a positive work environment that nurtures strong relationships at the workplace improves retention, as employees feel happy and accomplished. A recent survey reinforced the point, as strongly motivated and engaged employees were 87% less likely to leave their place of work than those who were not motivated.
Builds a progressive culture
Another benefit of positive relationships in the workplace is that it helps create a progressive culture that focuses on quality and excellence. When employees feel supported in the workplace, they take on more ownership.
Employees are more likely to move out of their comfort zone, extend themselves, try new things and innovate, leading to faster progress, better collaboration, more efficiency across the organization, and ultimately high-quality output.
For a high-performing workplace, positive relationships are the guru mantra. By fostering positive relationships, companies can create a more engaged, motivated, and productive team, which can help drive business growth & success.
How does an Organisation Build a Positive Work Environment?
Encourage Open Communication – an element that is more critical than before as now all team members may not be at the same location. All team members should be heard and encouraged to share ideas and provide feedback to one another. To create the habit and make it a part of the culture initially, one may need to formalize the timing for the team members to connect and discuss.
Another step to encourage open communication and collaboration is implementing an open-door policy. Open-door policy refers to the freedom provided to team members to approach anyone across the organization for help and advice and not tow the hierarchy line.
Finally, creating opportunities for team members to work together on projects helps build relationships and encourages collaboration. For the initiative to succeed, clear roles and responsibilities need to be assigned to each team member. In the absence of such projects, team-building activities can help build team dynamics.
Living in a world where change is a way of life, skilling and reskilling is the ask. Investing in employees to help them stay relevant in their roles and grow as individuals and at work is no longer an option but a mandate for organizations.
Apart from imparting technical & soft skills to staff, one key element that most organizations miss that employees need is mentoring. In the current scenario of remote and hybrid workplaces, mentoring has gained importance. It helps provide guidance, support, and advice to employees as they tackle daily challenges and navigate their growth in the organization as they work to develop their skills and abilities. A survey reveals 93% of employees said that well-planned training programs positively impacted their level of engagement. Supporting employees through these programs is a no-brainer.
Appreciation and Recognition
Adopting a culture of constructive feedback goes a long way in creating a positive environment. It helps employees feel appreciated for their contributions while understanding their areas to improve and grow. Organizations can also provide opportunities for employees to share their successes and accomplishments with the rest of the team by creating a platform to share their successes with the broader organization. A survey found that less than half (45%) of employees said they received recognition from their employers, so companies must create an environment where employees feel that their efforts are praised and recognized.
Building an Inclusive and Respectful Workplace
Policies and practices that support diversity and inclusion training on unconscious bias, cultural sensitivity, and clear communication about organizational expectations are some tools for creating an inclusive and respectful workplace. It needs to be supported by clear communication about the organization’s expectations.
Invest in Employee Well-Being
Organizations need to help employees manage their work-life balance and reduce stress. One way to invest in employee well-being is by offering flexible work arrangements, such as allowing employees to work from home or have flexible hours. Another way to invest in employee well-being is by providing access to counselling services, support groups, or wellness programs.
Conclusion
Positive relationships at work is the key to employee productivity which translates to the growth and success of the company.
Hence, Organizations need to take a cognitive approach to take actions required to build a culture & environment that fosters positive & productive work relationships, nurtures collaboration, improves morale, and reduces attrition.
Conversational Marketing Software is one of the digital agencies’ and marketers’ most widely used technology. This is because they look for high-quality and robust software solutions with profiles, sales conversion, and lead gathering. MobileMonkey is the best Facebook messenger marketing platform; this premier chatbox helps companies connect with customers worldwide.
The platform offers a free trial and a different set of prices as per the feature added. MobileMonkey was founded by Larry Kim, who serves as the CEO of the platform. The initiation of the platform was after noticing the need for a mobile messaging platform that can engage customers with the marketers for a product.
MobileMonkey is an easy-to-use marketing solution, especially for businesses in industries like real estate, restaurants, automobiles, eCommerce, and, as they require chatbots to communicate with their customers in real time.
The platform supports languages like Arabic, Danish, German, Greek, English, French, Hindi, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, Thai, Ukrainian, Vietnamese, and Chinese, among many others.
The platform makes it easier to build chatboxes and execute marketing automation without writing a line of code. It is helpful for marketers and advertisers because it offers chat blasting, drip campaigns, and powerful chatbot-building tools.
The main feature of MobileMonkey is that it will boost the client presence online through Facebooks ads, automating their chat in messenger and generating leads.
The other features of the mobile monkey are contacting leads, conducting drip campaigns, scheduling messages, sharing links, and gaining visibility across audience engagement analytics. Other than that, it lets small and medium businesses automate follow-up and processes that streamline customer care operations.
MobileMoneky offers more than one service. It is a collection tool and service required by digital marketers in order to increase their sales and generate leads. The products of MobileMonkey are further discussed ahead in detail.
Omnichat
MobileMonkey’s omnichat is counted in the list of the world’s leading omnichat platforms. It is used by leading businesses to connect with their customers in real-time through webchat, SMS, Messenger, Instagram, and WhatsApp.
This feature allows a unified chat inbox through which businesses can manage their inbound and outbound messaging conversations in a single place; it also has a toolbox of automation and integrations to help scale business messaging efforts.
InstaChamp
InstaChamp by MobileMonkey
Instachamp is the world’s first platform approved by Instagram for its direct messaging and engagement tools. This tool drives growth and engagement on Instagram via direct messaging automation for creators and B2C brands.
The auto responder replies to customer inquiries and sales, which will help boost the visibility among fans and friends. The platinum plan for this costs $9.95 per month as it comes with story mention, post comments, and DM autoresponder.
Agencio
Agencio by MobileMonkey
Agency is a popular tool of MobileMonkey as it is an integrated chat marketing hub that delivers top ROI for customers with less time and resources.
With agencies, businesses can get more clients, increase their monthly retainers, automate engagement, generate leads faster, and decrease cost per acquisition for clients across different industries. The prices for Agencio depend on the client’s needs and are flexible with the customization of the services.
FunnelPro
FunnelPro by MobileMonkey
FunnelPro is an expert in generating leads 24/7 with the help of chat automation for platforms like Instagram, SMS, Webchat, and Messenger.FunnelPro is primarily for companies with more than ten employees and $2 million in annual revenue.
The FunnelPro will help businesses save time with automation builders, integrations, and analytics to tie their efforts to ROI. The startup edition of the funnel costs $59 per month, while the enterprise edition costs different as it comes with additional features and can be optimized.
SMBots
This feature allows chat marketing and support automation for small businesses with fewer than ten employees or generating less than $2 million in annual revenue.
The B2C business owners not only offer a customer support live chat platform but also help to capture leads, answer customers’ inquiries and grow their business with the help of automated messaging. It has a free forever edition and a startup edition, starting at $119 per month.
Best Alternatives to MobileMonkey
Even though MobileMonkey is a must to have tool. There can be a few glitches here and there or someone can have a different preference than the basic selection of a tool. To overcome it, below is the list of platforms that can replace MobileMonkey for business work.
Intercom
Name
Intercom
Rating
4.4
Best for
Conversational Support, Conversational Marketing, Chatbot, Live Chat
Pricing
Pricing Starts from $74/month
Website
www.intercom.com
Intercom
Intercom is an American marketing software company founded by Eoghan McCabe, Des Traynor, Ciaran Lee, and David Barrett in 2011. The company has its headquarters in San Francisco, California, and is known to have over 100,000 monthly active users as of 2017.
Intercom allows businesses to communicate with prospective leads and existing customers through their website or app. Intercom enables the user to speak personally with every customer, the other features include live chat, chatbots, conversational marketing, and conversational support.
Other than that, it also allows businesses to track and filter customer data and provides the business data like conversation history, product usage behavior, past purchases, payment details, etc. Businesses can use this data to trigger personalized, automated emails and in-app messages.
Drift
Name
Drift
Rating
4.4
Best for
Conversational Support, Conversational Marketing, Chatbot, Live Chat
Pricing
Pricing Starts from $2,500/month
Website
www.drift.com
Drift
Drift is a conversational marketing automation platform that helps companies have real-time, personalized conversations with their customers at the right time to build trust and grow their revenue.
They have the Revenue Acceleration Platform that connects companies with buyers in real time through chat, video, voice, or even email. The company was launched in 2015 by David Cancel and has its headquarters in Boston, Massachusetts.
The company is currently used by 50,000 businesses to generate more revenue, shrink sales cycles, and make buying easy. The platform identifies every visitor, personalizes their experiences, and helps the business engage more effectively than ever.
The conversational marketing platform allows your company’s website into generating more leads through drift bots and even book meetings for the sales team.
Use Cases of Chatbots
Birdeye
Name
Birdeye
Rating
4.8
Best for
Conversational Support, Conversational Marketing, Chatbot, Live Chat, SMS Marketing
Pricing
Pricing Starts from $299/month
Website
www.birdeye.com
Birdeye
Birdeye is a SaaS/online marketing platform, especially for multi-location businesses. Over 60,000 businesses use Birdeye so that they can be found online and chosen through listings, reviews, and referrals. Naveen Gupta and Neeraj Gupta founded the company in 2012 with its headquarters in Palo Alto, California.
With the help of Birdeye, companies can be connected with potential leads and existing customers on the channel of their choice and deliver the best customer experience with surveys, ticketing, and insights tools.
Birdeye is known to capture real-time customer feedback, ratings, and sentiment across different review sites, social media sites, and surveys which help businesses in many ways.
ManyChat
Name
ManyChat
Rating
4.6
Best for
Conversational Marketing and SMS Marketing
Pricing
Pricing Starts from $15/month
Website
www.manychat.com
ManyChat
ManyChat is a visual chatbox platform for Facebook messenger allowing businesses to use bots for marketing, sales, and support. Mikael Yang founded the company in 2015 with its headquarters in San Francisco, California.
Some main features of the platform are bot building, Facebook comments tool, Facebook ads JSON tool, Automated messaging, Messenger code tool, integrated live chat, message broadcasts, automated sequences, and many more.
The platform became popular after 2015 as many small and medium businesses could level up their marketing, sales, and support using Facebook messenger. Its visual drag-and-drop bot builder makes it easy to set up and grow your messenger audience using the set of tools provided by ManyChat.
Apart from that, it is similar to MobileMonkey as it also has features like automated messenger conversations, automated workflows, and many templates, but is also free and easy to use.
Podium
Name
Podium
Rating
4.6
Best for
Conversational Marketing, SMS Marketing, Conversational Support, Live Chat
Pricing
Pricing Starts from $289/month
Website
www.podium.com
Podium
Podium is a popular customer interaction platform for small businesses that want to interact with customers locally. Eric Rea and Dennis Steele founded the company in 2014 with its headquarters in Lehi, Utah.
The platform helps businesses collect and consolidate data, manage online reviews and customer interactions, gather feedback, and text customers to build an online reputation on different websites.
The platform is suitable for local businesses as the users can send review invitations, respond to online reviews in real time and send and receive text messages with potential and existing customers.
The podium also provides businesses with reports of day-to-day operations, sentiment analysis, and competitive benchmarking that will eventually help businesses improve on what they lack.
Zendesk Support Suite
Name
Zendesk Support Suite
Rating
4.3
Best for
Conversational Support, Live Chat, Chatbots
Pricing
Pricing Starts from $49/month
Website
www.zendesk.com
Zendesk
Zendesk Suite is a wide collection of Zendesk products and services that allows its users to use tools to create a complete omnichannel support solution. Zendesk suite provides personalized customers support through various means like email, social media, voice, chat, etc.
The platform is built around a ticketing system that integrates all the communication channels businesses use to interact with their customers.
The Zendesk suit comes in five different plan options: team, growth, professional, enterprise, and enterprise plus, with the prices, set depending on the products and features added under the plans.
Zendesk was founded by three friends Morten Primdahl, Alexander Aghassipour, and Mikkel Svane in 2007 with its headquarters in San Francisco, California.
Some of the top products of the Zendesk suite are Zendesk messaging and live chat, answer bot and flow builder, Zendesk Support, Zendesk Guide, Zendesk Gather, Zendesk support, etc that provide a completely different set of features and capabilities that are needed to scale and provide support in larger organizations/businesses.
HubSpot Marketing Hub is an award-winning marketing automation software that helps you attract the right audience, convert more visitors or leads into customers, and run inbound campaigns. This easy-to-use platform attracts prospective leads through blogging, social media ads, and others. It was founded in 2006 by Dharmesh Shah and Brian Halligan with its headquarters in Cambridge, US.
Some of HubSpot Marketing Hub’s main features are marketing automation, ABM, personalized onboarding plan, tracking ROI with revenue attribution reporting, etc. Its platform is known to have more than 10,000 customers in over 120 countries to engage with their customers.
Email campaigns done by HubSpot Marketing Hub are well known as they convert and nurture leads, close customers, and contribute to the growth of your business. The platform also helps its users to monitor their email marketing with analytics so that they be improved upon.
ActiveCampaign
Name
ActiveCampaign
Rating
4.6
Best for
Conversational Marketing, SMS Marketing, Live Chat, Sales Engagement
Pricing
Pricing Starts from $29/month
Website
www.activecampaign.com
ActiveCampaign
ActiveCampaign is a well-known cloud software platform it helps growing small and medium size businesses engage with their customers. The SaaS platform enables enterprises to create optimized customer experiences by automating processes and communicating actions with their customers across different channels.
Jason VandeBoom founded the company in 2003 with its headquarters in Chicago, Illinois. The platform offers services like email marketing, lead scoring, web analytics, customer experience automation, marketing automation, sales automation, and CRM categories. ActiveCampaign so far has helped over 150,000 businesses in more than 170 countries.
It has more than 850 integrations like Microsoft, Shopify, Square, WordPress, PayPal, Stripe, Gmail, Facebook, and Salesforce. ActiveCampaign comes with 500 plus pre-built automation across social, email, messaging, chat, and text.
Conclusion
MobileMoneky is an omni-chat platform that allows multiple products and services for businesses to run smoothly online. MobileMonkey is a must to have tool for digital marketers.
However, there are other similar platforms also available on the web that forms the perfect alternative to MobileMonkey. The above-shared list of platforms can be used for businesses as a replacement for MobileMonkey.
FAQs
Is MobileMonkey a chatbot?
Yes, MobileMonkey is a chatbot. Basically, the MobileMonkey chatbot is a series of Facebook messenger chat pages that are triggered according to the user input.
Who owns MobileMonkey?
Larry Kim owns MobileMonkey.
Which chatbot platform is best?
Some of the best chatbot platforms are MobileMonkey, Zendesk, Snatchbot, etc.
Is there any AI chatbot?
Yes, there are many AI chatbots in the market. Some of them are Tidio, MobileMonkey, Landbot, etc.
Here’s a thorough WeWork case study briefing the history, business model, and the fall of WeWork from the pinnacle of success. WeWork is an American organization that gives shared workspaces to other companies and organizations.
Established in 2010, it is headquartered in New York City. WeWork oversaw 46.63 million square feet of space in 2018. WeWork structures and fabricates physical and virtual shared spaces and office administrations for people and companies. WeWork has over 700 locations in 38 countries for workspace.
In January 2019, the firm declared its plan to rebrand as “The We Company”; it was valued at $47 billion at that time. In that year, troubles started brewing for the company.
Adam Neumann left his position as the CEO and surrendered a greater part of ballot control in WeWork from 26 September 2019. WeWork also postponed its arranged securities exchange posting until the end of 2019 as issues began to arise in its corporate administration, valuation, and other business aspects.
On September 30, 2019, WeWork officially pulled back its S-1 documentation. The proposed IPO was thus delayed. The organization’s valuation fell below $10 billion, not exactly the $12.8 billion it had raised since 2010.
In May 2008, Adam Neumann and Miguel McKelvey started GreenDesk, an “eco-accommodating coworking space” in Brooklyn. In 2010, Neumann and McKelvey sold the business and began WeWork. Its first area was New York’s SoHo district with halfway financing from Manhattan land designer Joel Schreiber who obtained a 33% stake in the organization for $15 million.
WeWork Founders – Neumann and McKelvey
By 2014, WeWork was considered “the quickest developing renter of new office space in New York”, and was on track to turn into “the quickest developing tenant of new space in America. “During the monetary emergencies, there were these vacant structures and these individuals outsourcing or beginning organizations,” Neumann told the New York Daily News.
“I knew there was an approach to coordinate the two. What isolates us, however, is community.” WeWork collaborated with several organizations, including new businesses such as Consumer, HackHands, Whole Whale, Turf, Fitocracy, Reddit, and New York Tech Meetup. In 2011, PepsiCo put a couple of representatives in the SoHo WeWork, who went about as guides to littler WeWork part companies.
The first WeWork Labs opened in New York’s SoHo in April 2011. WeWork Labs works as a startup hatchery, furnishing an open workspace to empower joint efforts among individuals who “don’t have their business-related thoughts completely cooked.”
WeWork Labs
Rapid Expansion of WeWork
The company had 51 cooperating areas in the US, Europe, and Israel in January 2015– twice the same number as it had towards the end of 2014.
On June 1, 2015, WeWork reported that Artie Minson, previous Chief Financial Officer of Time Warner Cable, would join the organization as President and Chief Operating Officer.
On March 9, 2016, WeWork declared that it raised $430 million in another round of financing from Legend Holdings and Hony Capital Ltd., pegging the organization at $16 billion at that time.
By October 2016, the organization had raised $1.7 billion in private capital. In October 2016, the organization reported its arrangements to open a fourth area in Cambridge/Boston region. It opened workspaces in Boston’s Leather District and Fort Point in 2014.
On January 30, 2017, the Wall Street Journal composed that SoftBank Group Corporation is gauging speculation of well over $1 billion in WeWork Corporation, in what could be among the principal bargains from its new $100 billion innovation fund.”
In April 2017, the organization began offering wellness classes in some of its areas and opened an exercise center at a New York location. In July 2017, the valuation of the organization came to around $20 billion.
WeWork Valuation from 2012 to 2022
Later that month, it was reported that WeWork would expand to China using $500 million contributed by SoftBank, Hony Capital, and different loan specialists to shape “WeWork China”.
In September 2017, WeWork ventured into Southeast Asia through the acquisition of Singapore-based SpaceMob, and it put aside a financial limit of $500 million to develop in Southeast Asia, the home of more than 600 million people. The association’s top rival in China is Ucommune, the main Chinese unicorn in the coworking space.
In late October 2017, WeWork purchased the Lord and Taylor Building on Fifth Avenue in Manhattan from the Hudson’s Bay Company for $850 million. The arrangement incorporated the use of floors of certain HBC-claimed retail chains in New York, Toronto, Vancouver, and Germany as WeWork’s shared office workspaces. The deal was formally finished in February 2019.
WeWork was established in New York in 2010 to offer cooperating spaces to business visionaries, new businesses, specialists, and enterprises. WeWork has developed quickly, making it one of the biggest and most obvious cooperating chains on the planet.
It presently has representatives in over 700 areas around the world, incorporating stations in many U.S. urban areas and 38 nations that include Brazil, Germany, and Thailand.
How Does It Work
Superficially, WeWork’s business model resembles a moderately ordinary land play. Over the 700+ areas it operates in, everybody from solo business people to enormous organizations can lease everything from a work area to a private floor. WeWork is not the same as your normal land organization — it conveys an incentive to the inhabitants and the landowners.
WeWork gives its occupants something that is conventionally elusive, an on-request adaptable space with momentary leases (even on a month-to-month premise at times). This takes care of the problem of continuous shifting, one that affects developing businesses.
The process of shifting involves finding another office space, moving in, marking a long-haul rent, rebuilding the space, and moving out to begin everything once more elsewhere.
At the point when an organization exceeds its WeWork participation, it can move up to a progressively extensive alternate space, a private office, or even a private floor — diminishing erosion from changes. Clients don’t need to consider all the particulars of leasing office space, and they gain admittance to a lot of office advantages (free espresso, quick web, etc).
For landowners, WeWork offers huge incentives, including higher rents, an extended inhabitant pool, and increments in land esteem. In a blog entry distributed in 2018, the organization announced lease premiums between 15-29% in structures it managed in New York and Los Angeles. WeWork claimed a generation of $250 million in extra income for proprietors in New York, Chicago, and Los Angeles alone.
Space Used by WeWork
WeWork feels managing a business workspace is an intense issue regardless of how enormous (or little) your association is— and it’s once in a while a center competency. Consultants and the employees of nascent stage companies don’t have the financial backing to pay for office space, and end up telecommuting or working out of some stop-hole arrangement.
A below-standard working space could restrain joint effort and profitability. Small and medium-sized organizations battle with spending requirements and restricted assets, and development directions can make space needs a moving objective.
Venture associations face close consistent strain to cut expenses and increment productivity — land and activity costs can be a difficult barrier to cross. WeWork positions itself as the answer to these issues. By giving turnkey, versatile workspace arrangements, the organization vows to wipe out the contact associated with finding, involving, and dealing with a workspace.
Consultants and new companies get the advantages and preferences of having an office space without the expenses and obligations that accompany it. Small organizations get adaptable, reasonable space alternatives that can be reconfigured as needed.
WeWork rents a couple of floors of a structure from a property director in a high-thickness urban zone. It revamps the space to incorporate a blend of private workplaces, meeting rooms, parlors, and open workspaces.
It adds additional facilities such as espresso, office supplies, and brew on tap. WeWork pivots and leases workplaces to a blend of specialists, solopreneurs, new companies, and huge organizations.
WeWork essentially fits a larger number of bodies into its spaces than a run-of-the-mill corporate office. The normal per-individual office space in the United States is just shy of 200 square feet, as indicated by the US General Services Administration.
WeWork individuals can anticipate under 100 square feet. WeWork does this without yielding specialist profitability or fulfillment. Indeed, a central guarantee at WeWork is that its spaces are deliberately intended to cultivate greater efficiency and more development.
Services Added With Value by WeWork
Another factor adding to WeWork’s guarantee of “greater profitability, more development” is the worth-added administrations the organization offers to individuals. In 2018, it relaunched WeWork Labs, a hatchery-style program for new companies planned for helping them develop their business.
In February 2019, the organization reported a redo of the WeWork application, complete with new ability-sharing highlights planned for making it simpler for clients to discover, interface, and team up with different individuals.
Once individuals enter the WeWork environment, it becomes hard for them to leave owing to the benefits. The organization’s open recording archives report a net enrollment consistency standard of 119%.
WeWork Space
WeWork’s developing exhibit of significant worth included administrations — going from espresso and office supplies to showcasing programming and an administrations commercial center — push it past a basic landowner into a sort of full-administration proficient “hatchery” where an individual can arrange, and develop their business, adopt new abilities, and have the everyday details of dealing with a workspace dealt with.
On the off chance that an organization or individual moves to another city, there will be another WeWork space sitting tight for them. If a vital accomplice or specialist organization is required, WeWork can help find the ideal option. What’s more, as the organization develops from a little startup to a large organization, WeWork’s administration scales to keep up with the upgrade.
Analysis of Data
An essential piece in the WeWork ecosystem is the utilization of information. WeWork has for quite some time been utilizing information to advise participating organizations on areas, where they ought to be set, and what the blend of workplaces, workspaces, and courtesies should be like.
WeWork started to create products out of its information capacities with the “space-as-an-administration” offering “Powered by We”. Presented in 2017, Powered by We denotes a critical change for WeWork.
Earlier, WeWork’s administrations were limited to the spaces that it involved. Through Powered by We, the organization started to grow its range outside its leases into the organization’s current spaces.
This has a one-two-punch impact, empowering the organization to order the more significant expenses that accompany serving endeavor customers, while simultaneously shedding one of its most noteworthy wellsprings of both expense and hazard — the leases themselves.
Share of Workspace
The common workspace level is the least worth offering that WeWork has — not the organization’s most beneficial part, but a significant establishment for what’s worked above it.
These mutual workspace collaborations are what many pictures when they hear the words “cooperating space.” Members come in every morning and either snatch any accessible work area space in a typical zone if they have what WeWork alludes to as a “sweltering work area” enrollment or, for $100 or so extra a month, settle in at their very own committed work area in the common workspace.
As indicated by the WeWork site, these common workspaces are intended for new businesses and little organizations, specialists, advisors, and telecommuters. Hot work area participation starts at $190 every month and can reach upwards of $600 in costly urban communities like San Francisco. Committed work areas run from $300 to $700.
Central Station by WeWork
The level above office suites, central station by WeWork will be WeWork’s “white name” answer for big business customers. Instead of setting the organization up with a space inside a current WeWork premise, the central station is set up in independent areas sourced by WeWork in an area of the customer’s decision.
Customer organizations pick one of four “configurable designs,” running from an open warm-up area to official suites. Customers also pick inner staff to oversee everyday tasks for their area, with WeWork taking what the site alludes to as an “in the background” job.
WeWork Labs
A striking case of how WeWork uses esteem-added administrations to draw organizations into the WeWork system comes as WeWork Labs. WeWork Labs is WeWork’s “worldwide development stage” — an in-house startup hatchery that enlarges the central WeWork workspace offering extra highlights, including devoted program directors, week-after-week occasions, pitch evenings, workshops, and financial specialist presentations.
Relaunched in 2018, the program is at present offered in more than 700 areas — 154 in the United States and others in significant urban communities over the world, incorporating Brazil, China, Israel, Singapore, the UK, and Thailand, among others.
The organization said 1,000 new businesses have been brooded through the program as of December 2018.
The key factor that separates WeWork Labs from other startup quickening agents is the plan of action; instead of the standard hatchery model of taking value in the business, WeWork Labs charges a level expense, basically an up-charge to what the startup would some way or another compensation for space at WeWork.
Costs for the program’s US areas go from $300 – $600 every month. There’s a key measurement to WeWork Labs too as effective organizations move on from the program and develop into undeniable organizations, they become potential clients for WeWork’s growing suite of administrations.
The We Co., the American firm which works collaborating office spaces under the WeWork brand, has posted vigorous income development in India, even as it reels under huge misfortunes universally, demonstrating the organization’s first open administrative recording.
We Co. posted an overall deficit of around $689.7 million and an income of $1.54 billion in the initial half-year of 2019. According to a report by Reuters, it is hoping to raise $3-4 billion through the first sale of stock (IPO), which is probably going to be propelled in September this year.
Since its entrance in India in 2016 through an organization with Bengaluru-based Embassy Group, WeWork has been forcefully extending its impression. At present, its services are available in over 40 locations in 6 cities.
Internationally, We Co. is available in over 700 areas in 38 nations. According to the recording, the organization earned $3.5 million in the executive’s expenses in the half-year finished on June 30, enlisting a 118% bounce from $1.6 million in the year-back period.
In January 2019, the organization’s valuation was expressed as $47 billion, however by September when an IPO was arranged and deferred, the valuation was decreased to $10-12 billion.
Throughout the final quarter of 2019, WeWork’s evaluated market capitalization has kept on falling to a limited extent because of various examinations of Neumann’s conduct and strategic approaches.
In 2018, WeWork’s misfortunes and income both multiplied. As per the Financial Times, the organization lost $219,000 every hour of every day from March 2018 to March 2019.
As of December 20, 2022, WeWork’s net worth is $1.03 billion only a drop from $21.76 billion (2021).
In January 2019, WeWork declared that it would move into a two-story structure in Tampa Heights in 2020 as a component of its venture into Tampa.
On April 29, 2019, WeWork was documented privately for an IPO. On July 18, 2019, Wall Street Journal detailed that Adam Neumann sold $700 million of his WeWork stock before its IPO. The organization was hoping to raise over $3.5 billion from its IPO.
The We Company recorded S-1 desk work to go public. Media inclusion featured the organization’s overwhelming misfortunes uncovered by the S-1 documenting disclosures, while experts communicated apprehensions over WeWork’s capacity to end up productive later on. The IPO unveiled that WeWork faced $2 billion in losses in 2018.
Adam Neumann left his position as the CEO and surrendered a greater part of ballot control in WeWork from 26 September 2019. WeWork also postponed its arranged securities exchange posting until the end of 2019 as issues began to arise in its corporate administration, valuation, and other business aspects.
On September 30, 2019, WeWork officially pulled back its S-1 documentation. The proposed IPO was thus delayed. The organization’s valuation fell below $10 billion, not exactly the $12.8 billion it had raised since 2010.
Smartkarma, an expert on speculation research expressed, “We can’t understand the reshaping’s that would be important to verbalize a way to gainfulness here,” and noted it didn’t anticipate that the organization’s valuation should go beyond $20 billion.
Future of WeWork In India
WeWork India has its services available in over 40 locations in 6 cities with over 62,000 members occupying over 5 million square feet of space.
WeWork India
Since the dispatch of the American shared workspaces supplier in India, the Bengaluru-based Embassy Group had put $181 million into the WeWork partner. The target at present is the six main markets in the nation, including Bengaluru and Mumbai.
The raising support plans come amid discussion around WeWork’s first sale of stock. WeWork’s parent, The We Company, pulled back its IPO seven days after the SoftBank-backed adaptable office startup removed author Adam Neumann as its CEO.
“Despite everything, we keep up a great association with WeWork all-inclusive and will hold the brand,” said Karan Virwani, chief of WeWork India.
The organization had hold of the establishment for WeWork in India till the end of 2021. It might want to hold onto the brand; however, WeWork holds the main right of refusal and can purchase out the Indian Realty designer.
International Haven Group had paid around $200 million for the establishment two years prior. The Realty conglomerate holds an 80% stake in the establishment.
Independently, Embassy Group intends to concentrate on business, modern, collaborating, and co-living portions to grow its impression in the nation.
FAQs
Does SoftBank still own WeWork?
Yes, Softbank holds about 65% of the equity in WeWork.
What happened to Adam from WeWork?
Adam Neumann resigned from the position of CEO and gave up majority voting control in 2019.
Can WeWork be profitable?
It is hard to tell that WeWork will be profitable ever. The company has a negative cash flow. According to WeWork’s initial-public-offering disclosures, its losses are running ahead of its revenue. WeWork is not profitable on its preferred metrics either.
What is the problem with WeWork?
The problem is it has a negative cash flow. According to WeWork’s initial-public-offering disclosures, its losses are running ahead of its revenue. WeWork is not profitable on its preferred metrics either. Also, its whole business model is flawed with excessive leverage.
Does WeWork make money?
WeWork expects revenue of around $5 billion in 2022. On other hand as of December 20, 2022, WeWork’s net worth is $1.03 billion only a drop from $21.76 billion (2021).
Imagine yourself sitting in front of the laptop in your cabin with hundreds of leave applications, managing and analyzing each one by one. sounds horrible right? But it becomes more terrible when at the same time you need to take care of different compliances, like FMLA compliance. Ignoring compliance can put you and your company in big trouble. According to the report published by the US labor department, 966 FMLA complaints were registered in the year 2020 and 48% of these complaints resulted in heavy penalties and fines for the companies for non-compliance.
But today you don’t need to worry about anything because we have numerous software that makes this cumbersome task a game of jokes. You can manage the time off of your employees by taking all the compliances into perspective.
So, to boost your productivity and make your task much easier, we have brought the list of the best leave-tracking software that has amazing FMLA tracking features.
FMLA stands for the Family and Medical Leave Act, it is a federal act passed in the year 1993 that allows employees to take unpaid leave from work for specific reasons as mentioned in the law. This law provides eligible US workers with unpaid leave to take care of their medical conditions as well as for family medical issues. This law empowers employees to take leave for up to 12 weeks if they are eligible. Eligibility for FMLA leave is based on whether the worker’s family member has a serious health condition or a serious medical condition that makes them unable to work. Also, in order to apply for FMLA leave, employees must work for more than 12 months in the company.
FMLA also provides that if an employer wants to fire an employee because of their absence under FMLA, they must wait to terminate the employee until at least 12 months have passed since the scheduled return date of the medically unfit employee. The 12-week period of unpaid leave can be 12 consecutive weeks or spread out throughout the year. Also, the employee cannot be dismissed for requesting FMLA leave but can be terminated during the leave if the reason for termination is not related to FMLA.
What is FMLA tracking software?
FMLA tracking software is a kind of leave-tracking system that has the capability to handle FMLA leaves and their compliances along with other features. Everything in a business should be organized and transparent, even leave management also. This FMLA leave tracking software plays a vital role to prevent managers from making any mistakes while calculating and managing the leaves of every employee.
FMLA tracking is a feature of leave tracking software that helps to track and manage FMLA leaves. Some software like FMLA manager is wholly dedicated to FMLA and other states, federal, and company leave compliance tracking but there is some software that provides other features also, along with FMLA tracking.
Top FMLA Tracking Software
The following are the Top FMLA Tracking Software
FMLA manager
Rating
4/5
Best For
All types of enterprise
FMLA manager is the software product introduced by J.J Keller and associates to simplify the most confusing and troublesome task of HR professionals. Started in 1953, J.J Keller and his 1,500 associates have served more than 6 lakh customers worldwide including more than 90% from fortune 1000. Since it has more than 50 years of experience in compliance and regulatory management, we can trust the product.
Because the name of the software is FMLA manager, it doesn’t mean it only helps in the compliance and management of FMLA. It also helps in all other states, federal, and company leave compliance management. Once you start using FMLA manager for your employee’s absence tracking, you can also utilize free and unlimited access to J.J Keller’s subject matter experts to ask hundreds of questions per week.
Pros:
Prevent heavy penalties for non-compliance
Expertise in this field
Access to ask questions with experts
Comprehensive reporting of leave
Cons:
Price is not disclosed
Not modern user interface
Pricing
Free trial (Price is not disclosed)
LeaveSource
Rating
4.8/5
Best For
All types of FMLA Management
LeaveSource is a leave management software by Qcera that has been engaged in providing leave and compliance-related services since the year 2000. LeaveSource Enterprise and LeaveSourve Entrust are the two products offered by Qcera to fulfil the demand of different size companies.
Both products are loaded with amazing features to tackle leave and compliance, but LeaveSource Enterprise is best suited for bigger enterprises having a workforce of more than 1000 employees. Still, you can compare the features and choose the best one. There is a long list of federal, state, and municipal leave that you can manage using LeaveSource, so forget the headache of administering any kind of leave.
Pros:
SOC2 Type II + HiTrust Certified Audit Approved FMLA SaaS Provider
Training to use the software effectively within 24 hours of inquiry
Update its software with any update in the Act
An extensive list of leaves to manage
Cons:
Price is not disclosed
Pricing:
Request a demo (price is not disclosed)
Zoho People
Rating
4.4/5
Best For
Human Resource Management
Zoho is a well-known name in the field of software solutions, the list of software is extensive, and one of them is Zoho People. Trusted by more than 4000 businesses worldwide including Zomato, Mcdonald, IIFL, and Spice jet, this software is best suited for managing time off, performance, and many more things.
FMLA leave management is one of the features of Zoho people that comes under leave tracking and management. It is not limited to providing leave-tracking features but has included other features like attendance management, performance, onboarding, and timesheet. Since Zoho is an industry-leading software solution provider and working in this field for the last 20 years, we can confidently rely on the software for leave management including FMLA tracking.
Pros:
Compliance with global security and privacy law like GDPR
2-factor authentication for an additional layer of security
Protect any imported or exported database with a password
Access control to provide access to the software based on the role
Cons:
Limited functionality for FMLA management
The Mobile version is glitchy
Pricing:
Essential HR: Rs48/user/month
Professional: Rs96/user/month
Premium: Rs144/user/month
Enterprise: Rs192/user/month
People Plus: Rs350/user/month
GoCo
Rating
4.7/5
Best For
Small and Medium enterprise
GoCo is software equipped with amazing leave-tracking features including FMLA to make the manual, complex, and painful task of HR easier. It is featured as a number 1 platform in Forbes, Huffington Post, and Entrepreneur Magazine and rated #1 on the G2 crowd in customer satisfaction. With its amazing UI/UX you never feel bored while performing any task on this software.
Everything is aligned in a perfect manner so that you never have to wander here and there. FMLA management has never been so easy and efficient, using this software you are empowered with some amazing features to track your FMLA compliance. Since its inception in 2015, it has created a soft corner in the heart of HR managers because of the core values they follow, that is Transparency, Integrity, collaboration, Evolve, Give First, and Grit.
Pros:
Automatic overtime calculation
Automatic holiday pay
Track PTO and sync with the timesheet
Advanced user-friendly interface
Cons:
No free-trail available
Pricing
The plan starts at $5/employee/month and you need to get custom quotes from the company.
GreytHR
Rating
4.4/5
Best For
Human Resource Management
GreytHR is providing its software services in the HR domain for the last 25 years and has served more than 15000 brands and 1.5 million users. The leave management system of GreytHR empowers your HR manager to track all the leave applications, and check eligibility, and all compliance.
Loaded with all the features of major state compliances including FMLA, this software helps in accounting for the leave and determining eligibility. Make the process of providing leave transparent to the employee by leveraging the feature of the employee’s self-service. It not only reduces the workload but also boosts productivity through automation. Companies like WeWork, Rapido, Instamojo, and impact guru are already using this tool to make the process of leave tracking seamless.
Pros:
One-click leave year-end processing
50+ configurable parameters
Unlimited leave type and leave the transaction
Role-based access control
Statutory compliance
Cons:
Payment of subscription on a monthly basis
No additional modules
Pricing
Starter: 0
Welter: Rs1495/month
Super: Rs2495/month
Cruiser: Rs4995/month
TimeOut by CWS Software
Rating
4.6/5
Best For
Small Business
TimeOut is an absence management software introduced by CWS Software that ensures accurate leave tracking and managing day-to-day compliance including FMLA compliance. The most fascinating feature of this software is that you can easily configure the state policy of any country so that you never miss any important compliance.
The employee self-service feature empowers the employee to view the current balances of their leave and can easily request the leave. Email notification reminds your manager of your leave application and the manager will do the rest of the work.
Pros:
Integration with Google calendar, outlook, and Apple iCal
Country-specific policy to ensure compliance
IOS and Android mobile app
The demo is available for trial
Global availability
Cons:
Bad UI/UX
Only one add-on
Pricing:
$3/user/month
Timetastic
Rating
4.6/5
Best For
Staff Leave Planner
Timestatic is founded by two young minds Gary and Matt who started their journey to build this interactive and affordable software in 2014. Frustrated from managing the leaves on a complex spreadsheet, they made Timetastic which revolutionize leave management.
You are going to fall in love with this software because of its innovative design and features. Give all your employee a personal calendar provided by Timestactic that gives a clear picture of their leaves. Now your employee can easily plan for future leave and get insight into past ones. The powerful wall calendar gives you a clear insight into who is on leave and when so that you can manage your work accordingly.
Replicon is a cloud-based software solution provider that provides software solutions to simplify the cumbersome task of HR. The project time-tracking product suite of Replicon contains a feature called Time-Off, that helps to manage employee leaves while maintaining state and federal compliance.
Configure the approval process policies for any requested leave application based on the need of your business. This tool is pre-loaded with advanced leave management features and also provides seamless integration with numerous other software like Salesforce, Zendesk, Oracle, Sage, BambooHR, and much more.
Pros:
Advanced analytics and flexible reporting
Built-in configurable time intelligent platform
Team Calendar
Employee self-service portal
Alerts and notification
Cons:
Difficult to figure out administrative features
Not free plan
Pricing:
$12/month
Leaveboard
Rating
4.4/5
Best For
Small and Medium scale enterprises
Leaveboard is a leave management software that focuses on Small and medium businesses with an employee strength of 5 to 250. This cloud-based software helps to manage the most valuable resource of your company, which is your employees.
Leverage the benefits of this software and ensure that employees do not take leave at the same time. Also, avoid huge penalties and fines for non-compliance with federal and state laws related to the leave of an employee. Enjoy all the common features of leave management software in addition to some advanced features like a chatbot and calendar feeds.
Pros:
Availability of mobile app
Centralized leave report
Employee self-service portal
Google/Outlook calendar integration
Smart HR process automation
Cons:
Old and unattractive user interface
Mobile app lags sometimes
Pricing:
Free: 0
Pro: $1.35/employee/month
Enterprise: Request a demo
AbsenceSoft
Rating
4.5/5
Best For
FMLA, Disability and ADA type of absence
AbsenceSoft is an all-in-one leave and accommodation software that significantly reduces the cost of administration. It takes care of all your paperwork related to FMLA compliance and other state policies of leave.
Since the law can change from time to time, it updates its software with changing policies of state and federal so that you never fall prey to non-compliance. You can also configure the software with your internal policies to ensure timely compliance. Authorize your employees to ask for leave using this software and monitor the status in real-time. It helps to check the eligibility for the leave, taking state, federal, and company-specific policies into perspective.
Pros:
Leave eligibility calculator
Activity tracking
Built-in compliance expertise
Employee self-service portal
Instant access to FMLA and ADA files
Cons:
Price is not disclosed
The mobile app is not available
Pricing:
Contact the sales team for a pricing quote
Conclusion
Employees are the most important asset in your company that you need to take care of. Since you use your employee time to maintain the consistent growth of your business, it becomes important for accurate accounting of leaves.
It becomes more essential because at the same time you need to take care of state and federal compliance like FMLA. To prevent your organization from huge penalties and fines for non-compliance with FMLA, you must choose the appropriate software from the above list.
FAQs
What is the best way to Track FMLA?
It can be tracked by recording the employee’s work schedule and subtracting from it the number of hours they took for FMLA leave. If the employee was scheduled to work 7 hours and only worked 3 hours, then 4 hours of FMLA leave can be counted.
What are the Best FMLA Tracking Software?
The following are the best FMLA tracking software
FMLA Manager
LeaveSource
Zoho People
Goco
GreytHr
TimeOut by CWS Software
Timetsatic
Replicon
Leaveboard
AbsenceSoft
How to choose a leave management system?
Before choosing the best leave management system, do consider the following
Powerful Automation
Cloud-Based Application
ConfiguraleFields
All-in-one Dashboard
Seamless Integration
Easy to generate reports
What are the steps to Calculate the FMLA Rolling Year Method?
There are four steps to calculating FMLA rolling
Determine FMLA Time Needed
Determine FMLA Time Previously Taken
Determine FMLA Time Left in a 12-Month Period
Determine the Total FMLA Time Available for This Request
The article has been contributed by the QuickCompany’s team
India has secured the 3rd most prominent position in the world as an ecosystem for startups with a strength of 77,000 DPIIT-recognized startups across 656 districts, while China and USA hold the second and first positions, respectively. Since 2014, it is remarkable how India has climbed up to secure the place. It is a moment of pride that India has left China behind in the global unicorn race, with funding CAGR(Complex Annual Growth Rate) between 2014 to 2022 of 49% in India against 12 % in China and 33% in the USA; as well as year on year growth of unicorn in India by 300% between 2020 and 2021 in comparison to China with 267%.
This count is reported as of 29th August 2022, making India rank 2nd in innovation quality and 1st in the quality of scientific publications, as well as in the rate of universities among developing economies. Between 2014 and the first quarter of 2022, 57,000 startups were launched in India, out of which 100 have entered the Unicorn Club, and 17 are listed.
Bengaluru is known as the startup capital of India, whereas Maharashtra has the highest number of startups in India.
Indian States and Union Territories Contributing to the Startup Ecosystem
The innovations are expanding beyond the specific sectors, unlike a few years back. The recognised startups in 56 industries are divided into 13% from the IT industry, 9% from pharmaceutical and health care, 7% from ed-tech, 5% from professional and commercial services, 5% from agriculture and 5% from food and beverages.
According to the Economic Survey of 2021-22, DPIIT recognised more than 61,400 startups, of which at least 14,000 were recognised during the fiscal year 2022. This contributes to a growth projection to put forward a GDP examining the performance of several sectors and suggests future movement.
On average, 555 districts of India had at least one new startup, which makes it evident that India has remarkably encouraged the startup mindset over the past six years, mainly in IT and knowledge-based sectors.
Top 4 Indian States Bagging the Funding
“Startups in India have grown remarkably over the last six years. The number of new recognised startups has increased to over 14,000 in 2021-22 from only 733 in 2016-17,” the survey claimed.
2022 has been marked as a significant year for startups, as it has witnessed the crossing of milestones of 100 Indian startups to enter the Unicorn club. Until October 2022, IT and Fintech showed the highest number of entries, whereas blockchain and consultancy showed the lowest.
Industry-Wise New Membership to Unicorn Club in 2022
A huge announcement is made by BITS Pilani, allowing students and faculty members to take time off for up to 1 year to start their ventures with a target to encourage and nurture entrepreneurship in India.
Moneycontrol had reported earlier that at least one founder of over 73 of India’s more than 100 unicorns came from one of the country’s 23 IITs. According to Tracxn Technologies data, BITS Pilani alumni have founded over 900 startups, with over 13 making it to the list of Indian unicorns, including Zeta, MPL, Swiggy, BigBasket, and Groww. Hari Menon of Big Basket, Sriharsha Majety of Swiggy, and Phanindra Sama of redBus are all alumni of BITS.
As of now, 22 startups have joined the unicorn club in 2022. Here are the top five among them:
Top Indian Unicorn Startups in 2022
The other Indian unicorn startups of 2022 are:
Fractal Analytics
LEAD School
Darwinbox
Livspace
Xpressbees
Hasura
CredAvenue
Amagi
CommerceIQ
Oxyzo
Open
PhysicsWallah
Purplle
LeadSquared
OneCard
Tata 1mg
Molbio Diagnostics
Conclusion
Over the past two years, India has witnessed the inflow of extra cash that resulted in drawing massive investment to Indian startups, including some making the IPOs launched exceedingly profitable. As growth-stage investors such as Tiger Global, Coatue, and Softbank have quit the market, startup values have fluctuated at a high speed. Several startups were valued based on price rather than vision, and now it is a challenge to contend with the harsh realities of the natural world, which values businesses based on free cash flow.
This scenario is likely to persist for the next 12–18 months until the economy begins to reset to a new normal. Meanwhile, the challenge to startup CEOs is to focus on achieving quantifiable achievements and genuine business payoffs, making the time engrossing for the Indian startup ecosystem.
FAQs
Which Indian city has the most number of startups?
Maharashtra has the highest number of startups in India.
Which Indian startups entered the unicorn club in 2022?
As of September 2022, 22 Indian startups have entered the unicorn club, including Fractal, Uniphore, LEAD, CredAvenue, Open, Amagi, Games24, DealShare, Xpressbees, and PhysicsWallah.
How many startups are started by BITS Pilani alumni?
According to Tracxn Technologies data, BITS Pilani alumni have founded over 900 startups, with over 13 making it to the list of Indian unicorns, including Zeta, MPL, Swiggy, BigBasket, and Groww.
Did you know that the Philippines’ startup week falls between 14 to 18 November? The 2022 theme of Philippines startup week was “Homegrown Heroes: Cultivating Future Tech Giants“. As per Statista, the number of startups has increased by 156% i.e, 273 in 2017 to 700 in October 2021. In this queue, many minor to hefty startups in different industries have been recognized, making the Philippines, a leading land of entrepreneurs.
As mentioned in Tracxn, at present, there are a total of 2,439 startups thriving in the Philippines. In this article, we are going to discuss the top 13 Leading startups in the Philippines across every field including tech, real estate, finance, etc. Let’s dive in to find out what these top-tier startups of the Philippines are.
Mynt is a start-up that provides financial services and resources to businesses and individuals. It provides safe money proceedings including cashless transactions and virtual wallets. It has a platform remittance that allows secure receiving and sending of money. You can obtain quick and convenient loans via Mynt.
Uploan
Founded Year
2017
Founders
Benoit Portoleau-Balloy, Liam Grealish
Valuation
$25.6 M
Industries
Lending, Financial Services, FinTech
Location
Manila, Philippines
Website
www.savii.io/in/
Uploan Founder, Co-founder
Uploan is now Savii a platform where you can leverage your money for managing day-to-day expenses. Uploan stresses three major issues for its customers including employees’ wellness, impact on productivity, and financial insecurity. In the last 5 years, Uploan has won the trust of more than 4,00,000 employees. The programs furnished by Uploan are affordable, reliable, and resourceful.
PDAX (Philippine Digital Asset Exchange)
Founded Year
2018
Founders
Nichel Gaba, Krystian Kucharzyk
Valuation
$500 M
Industries
Financial services
Location
Taguig City, Philippines
Website
www.pdax.ph
PDAX Founder-Nichel Gaba
The Philippine Digital Asset Exchange (PDAX) is a book and order exchange enterprise which ensures Filipinos fair access to digital assets and top cryptocurrencies. Its headquarters is in Taguig, National Capital Region. PDAX is the first of its kind in the whole Philippines generating competitive prices for traders across the globe. Its specialized areas of services include trading, exchange, digital assets, blockchain, bitcoin, cryptocurrency, and fintech.
Kumu
Founded Year
2018
Founders
Roland Ros and Rexy Dorado
Valuation
$100M
Industries
Entertainment
Location
Manila, Philippines
Website
www.kumu.ph
Kumu Founder Ronald Ros
With over 40 years of experience, Kumu has established its roots in the Philippines as one of the most popular social entertainment applications. There are more than 10 million users of the Kumu application along with 60 million live-stream viewers every month.
Kumu also held many Livestream campaigns and it is expanding its legs in the Shopkumu eCommerce and Kumu gaming sector over the past few years. A few top investors which have been a major part of Kumu funding are Endeavour Catalyst Fund, the Gentree Fund, Summit Media, Foxmont Capital Partners, Kickstart Ventures, and the Gobi-Core Philippine fund.
Edamama
Founded Year
2019
Founders
Bela Gupta D’Souza
Valuation
$2 billion
Industries
Personal products/ eCommerce
Location
Makati, Philippines
Website
www.edamamma.com
BELA GUPTA D’SOUZA- Founder Edamama
Edamama is a retailer eCommerce platform popular for selling baby products. The company stresses selling mom and baby products such as diapers and wipes, travel accessories, garden kits, breastfeeding accessories, safety products, and bathing, learning, and grooming products. Its unique diaper subscription offerings make online shopping convenient for parents.
Edukasyon.ph
Founded Year
2015
Founders
Henry Motte-Muñoz
Valuation
$3,700 M
Industries
Edtech
Location
Manila, Philippines
Website
www.edukasyon.ph
Henry Motte-Muñoz- Founder Edukasyon.ph
Edukasyon.ph, as its name suggests, is an ed-tech products provider startup that commits to filling up the gap between the digital world and learning, and hence, promoting remote education. It collaborates with different nonprofit organizations, corporations, and schools from time to time to provide access to digital products.
Its whole business profile works on three major sub-products which include- EXPLORE for high school-college enrollment assistance, Tutor for K 12 foundational academic support, and advocacy services which aim to ensure holistic learning.
Shoppertainment Live
Founded Year
2019
Founders
Hiyasmin Neri-Soyao
Valuation
–
Industries
Content creation/ eCommerce
Location
Quezon City, Philippines
Website
www.shoppertainment.ph
Hiyasmin Neri Soyao- Founder Shoppertainment Live
Shoppertainment Live is a startup committed to ensuring a brighter future in Livestream and enhanced customer experience. It also has a Shoppertainment Academy where it furnishes courses and insights for successful live streaming. It lets customers interact, connect, engage in real-time, and thus, profiting your digital business as it ensures about 3-300% growth in sales.
Great Deals E-Commerce
Founded Year
2014
Founders
Steve Sy
Valuation
$41,3M
Industries
E-Commerce, Retail
Location
Quezon City, Philippines
Website
www.greatdealscorp.com
Steve Sy- Founder Great Deals eCommerce
Great Deals is a one-stop solution for eCommerce for retailers and brands. With more than 2 million orders, 20,000 SQM fulfillment spaces, and more than 300 brands residing, Great Deals is one of the leading eCommerce platforms on the air. Its other specialized services include 24/7 customer support, content and production, warehouse and fulfillment, marketplace management, order and inventory systems, digital campaign coordination, logistics, and detailed analytics.
Peddlr
Founded Year
2021
Founders
Nel Laygo
Valuation
$4,80 M
Industries
Fintech
Location
Eastern Visayas
Website
www.peddlr.io
Peddlr Founder- Nel Laygo
Peddlr has sari-sari stores for small entrepreneurs and micro businesses in South East Asia and the Philippines. It has made bookkeeping convenient by furnishing one click product setup and a POS system. It has a smooth forward user interface and a quick onboarding process. You can access Peddler offline, mobile, with or without credit cards, with the free download, and a convenient signup process.
PayMongo
Founded Year
2019
Founders
Edwin Lacierda, Francis Plaza, Jaime Hing, Luis Sia
PayMongo is a payment processing platform that offers a payment API for use in mobile apps and websites. It offers you to collect money from your customers via any social platform like Instagram, SMS, etc by using links. If you run a blog or e-commerce platform you can add PayMongo as a payment collector by using its plugin. Along with payment collection, it also offers an e-wallet and pay-later option on its platform.
Qwikwire
Founded Year
2013
Founders
Ray Edison Refundo
Valuation
$4,044 M
Industries
Real Estate, SaaS, Software
Location
Makati, Philippines
Website
www.qwikwire.com
Ray Edison Refundo- Founder Qwikwire
Qwikwire provides billing and invoice solutions to large and medium businesses. Qwikwire also facilitates cross-border payment settlements by using licensed remittance channels. It uses SAP-integrated billing and invoicing systems for its customers. Qwikwire also operates in the real estate business.
Voyager Innovations
Founded Year
2013
Founders
Orlando Vea
Valuation
$1.4 billion (April 2022)
Industries
Developer Platform, Innovation Management, Internet
Location
Mandaluyong, Philippines
Website
www.maya.ph
Orlando Vea- Founder Voyager
Voyager Innovations is a tech provider firm. It mainly works in the creation and distribution of digital services. They have launched many successful ventures in the field of digital services, and Maya Payment System is one among them. Maya works as a crypto exchange, wallet, and digital bank.
Tier One Entertainment is an eSports, gaming, and entertainment startup in South East Asia. It is formulated to reach begrudged gaming audiences. The company registers professional teams and streamers from all over the globe. It then enables gamers to connect with top brands for revenue generation. According to Pitchbook, the latest deal amount closed by Tier One Entertainment was $7 million.
Conclusion
Hence, this was all about the top 13 leading startups in the Philippines. All of them have expanded their businesses at their peak. It shows that the Philippines is a production hub for startups in recent years. We will be observing these startups touching milestones across the globe in the upcoming years.
How many startups are there in the Philippines in 2022?
According to Traxcn, there were 2461 startups in the Philippines in 2022.
Which country tops in terms of startups?
The USA ranks first for startups, followed by China, and India respectively.
What business makes the fastest money in the Philippines?
In the digitized world, Businesses having an online presence gives them scale for business and that’s why they make the fastest money compared to the traditional method in the Philippines.
You have come up with a genius product idea that has a solid USP and huge demand in the market.
You invest all of your time, energy, and money in prototyping and developing the product.
After months of hard work when you are about to launch your product you find your innovative idea on a local marketplace or e-commerce store.
You would be very disappointed right?
To avoid such a scenario, after coming up with an idea do rigorous research in making sure that your idea is unique.
Here, are 3 ways to ensure that your idea is actually yours:
Google Search
Google is the biggest search engine in the world which means that it has a huge database of several products and services.
Type in your main product keyword and other keywords related to your niche and industry.
Google will show you all the products that are related to your keyword.
Don’t just analyze the first page of SERP, go beyond that and try to read as many pages as possible.
Google Image Search is another great option to see if your product already exists in the market.
Since you would see dozens of images you will get a better understanding if your product is unique or not.
Online Marketplaces
Try searching for your product on the following marketplaces:
Flipkart
Amazon
Alibaba
AliExpress
Etsy
Oberlo
eBay
Walmart
IndiaMART
Make use of features like ‘similar products’ and ‘people who bought this also bought.
Patent Search
Google’s Patent Search
Try analyzing patent databases such as Google’s Patent Search or Espacenet to see if there were products similar to your ideas that were patented but never made it to market or which are on their way to market.
If someone has already patented your idea then you cannot move forward or if someone is already launching a product similar to yours then also you cannot move to user research and prototyping.
You again have to brainstorm new ideas.
Although, if you cannot find any product similar to your idea don’t get too excited yet!
Does Anyone Really Need Your Product?
An Example- Alex Toby wanted to understand his audience in order to create content, so he offered this form to them
After doing in-depth research you get to know that your product does not exist in the market.
But, maybe there is a possibility that the product is not there in the market because no one needs it.
Your product may help people in solving their problems but, your target audience might not consider the problem big enough to spend money on it.
If a lot of people are interacting with this ad at a low cost per click (CPC) then it means that your product has some demand.
You can redirect the ad to a landing page where you can tell people that the product is in development and ask them what kind of features, look and price they would want in the product.
You can even collect their email ids. In this way, you would also build an audience for your product.
Conduct an Online Survey
If you have identified your target audience demographics and interest you can run a paid advert on various social media platforms that redirects them to a survey form.
In the survey ask questions like:
Do you face this problem every day in your life?
Did you find a solution to it?
Would you spend money to buy a product that solves this problem?
What could be the potential solution for it?
To incentivize people to fill out the form you can give them free products or discount coupons from famous e-commerce stores like Amazon and Flipkart to 3 lucky winners.
Use Google Keyword Planner and Google Trends
Google Trends
Type in your product keyword in Google Keyword Planner and see how many people are searching for this keyword every month.
Higher the volume higher the demand for the product.
Also, see in which countries people are searching for this keyword to understand the demographics of your target audience.
Analyze the other related keywords as well to better understand what people want from your product.
Then go to Google Trends and see how is the trend of your product in the last 90 days or 18 years.
If the trend is constantly going upwards in the last couple of years it means that there is demand for your product.
See in which countries the product is trending to understand where your target audience lives.
Conduct User Research
After defining the product try to research and find out the age, gender, marital status, income level, place of residence, job position, interests, needs, fears, and desires of your target audience.
Let’s say you have come up with an amazing product idea and spent all of your time and money on it for a couple of months.
Later on, you decide to sell it at Rs 100. But, at the prototyping or manufacturing stage, you know that you need to spend 4 times more money to make the product.
To create a profit margin you need to increase the price of the product.
But, the problem here is that you cannot sell the product at Rs 600-700 because you know that people won’t buy it.
It means that your idea is dead and all of your efforts have gone in vain.
To avoid such a scenario, try to decide at what price people will buy the product and what will be the cost of making the product. The figure doesn’t have to be very 100 percent accurate.
If you get to know that the cost of making the product is not very high and you can sell it at a reasonable price and make a profit for yourself you can move forward.
Sketch the Product
You need to take the idea out of your head using sketching.
Now, you don’t have to be Pablo Picasso or Leonardo da Vinci to sketch the product.
The sketch doesn’t have to be perfect but, you will bring your thoughts to life.
Quantity matters here more than quality. Draw hundreds of ideas and then mismatch and make a perfect one later on.
Don’t waste your time drawing a single perfect sketch.
The goal is to get a sense of what your product will look like so, you can explain the idea to your team members or other people.
Before drawing the sketch you should have a customer avatar in front of you.
Basically, you should know the age, gender, marital status, income level, place of residence, job position, interests, needs, fears, and desires of your target audience.
If you don’t have the above information, conduct user research first and then come back to this stage.
Don’t make a product for everyone.
Once you start drawing you will get tons of questions about your product like:
What will be the size and color of my product?
What sort of texture will it have?
What materials will be used?
How will the target audience use it?
Write these questions on a piece of paper and try to answer them in detail.
If you have a lot of mechanical parts in your product you can draw them separately from the main product to get more clarity.
Create a Virtual 3D Model
Now, you need to transfer your sketches to 3D modeling software. This will help you to understand the size, shape, and design of a product in a much better way.
Another benefit of a 3D model is that you can explain your concept to team members more clearly.
Once you make the 3D model you can continuously make changes to them and make your product structure perfect.
You can integrate the 3D model with augmented reality apps like Augment to visualize how your product will look in real life.
To convert your sketches into 3D models you can use software like:
Proof of Concept (POC) tries to prove that your product idea is feasible and can be developed.
Now, POC is different from the prototype.
POC shows if your product can be built or not while the prototype tells how it will be developed.
Here’s how you can make a POC.
Describe the Need for the Product
First, prove the need for the product.
It means that you need to tell who your target audience is and what problem they are facing.
You need to describe the pain points of your target audience in detail.
You also need to prove that people will buy your product to solve the problem.
To prove this you can release survey forms or conduct interviews with people and ask them what problem they are facing, did they find any alternative product to solve the problem, what desired solution they want, and whether will they pay money to buy the product.
You need to give facts and not assumptions.
Get Feedback
In the 2nd stage, you need to describe the solution that you have found to your target audience and ask them if they liked your product or not.
You can show the 3D model to your audience to make them better understand what they will get in the future.
Collect as much feedback as possible and make changes to your product.
Tell the Features, Cost and Profit Margin of the Product
Now, you need to tell the dimensions and feel of the product along with the features and benefits that the product will have.
Then tell the product’s rough cost, price, and profit margin.
You also need to describe the project’s timeline and what technology you will use to make it.
Prototyping
The prototype is an early functional sample of a product which is further enhanced and tested to develop a final working product.
Prototyping will help you test and develop ideas and understand the design flaws.
The goal is to test the idea of failure. This means that you really want to know where your design exactly works and where it doesn’t.
You also need to make sure that every prototype is better than the last ones, eventually ending with the best one that provides an excellent user experience and compels them to buy the product.
Types of Prototypes
Display Prototypes
Display Prototypes are primarily used in Fashion Industry
As the name suggests, the display prototypes focus on the look and feel of the product. These prototypes may not even function but they try to mimic the design of the actual product.
Functional Prototypes
Functional prototypes try to show the functions of the actual product as closely as possible without accounting for the design and feel of the product.
Miniatures
A shopping cart as a miniature prototype example
Miniatures prototypes focus both on the display and functional aspects of the actual product.
Although they are very small they don’t work at full capacity and may not accurately demonstrate the features of the actual product.
3D printing is used to develop miniature prototypes.
Rapid (Throwaway) Prototype
A mobile application as a paper prototype is a good example of a throwaway prototype
In the rapid prototype method, the prototype is developed in a very short period of time and in a cost-effective way.
It is also called a throwaway prototype because the prototype is constantly modified based on user feedback.
Once all the stakeholders are satisfied the prototype is used for reference. Once the next prototype is developed the initial ones get thrown away.
Rapid prototyping is usually conducted using 3D printing.
Evolutionary Prototyping
Computer software is a good example of evolutionary prototyping
In evolutionary prototyping, a functional prototype is developed from scratch and new refinements are made continuously.
Once a first prototype is built that has some basic functionality it is presented to the users.
Feedback is collected from all the users and based on the suggestions changes are made to the prototype.
After making the changes the prototype is again presented to the users and again feedback is taken.
This cycle keeps on repeating until the users reach a point where they like using your product.
At this point, you stop refining your product. Since your product evolves at each stage this method is called evolutionary prototyping.
In this method, the focus is more on functions rather than design.
Evolutionary prototyping is suitable if you fully don’t understand the requirements of the project.
You can also use this product if you are developing a new product or technology that your target audience doesn’t know about.
In this scenario, your target audience won’t be to give feedback unless they start using your product.
Once they start using it they will better understand your product and give you feedback.
Incremental Prototyping
If you are developing a product that has a lot of complicated technical components or if you are aiming to build a massive product then you should use incremental prototyping.
In this method, you develop separate small prototypes of your product simultaneously.
After developing different prototypes you test and refine them and then merge them together to make one comprehensive whole product.
Since each part and feature of the product is evaluated separately you are able to understand the intricate details of the product.
You also get the freedom to innovate your product instantly.
Although the problem with incremental prototyping is that you may develop prototypes that look and function like completely different products.
To avoid this your design and developer’s team must come up with some principles in order to keep the aesthetics and function of the prototypes consistent throughout the prototyping stage.
I will run you down the most used ones that are incorporated while building plastic, rubber, metal, wood, and electronics products.
3D Prototyping
Example of a 3D prototyping
3D prototyping allows you to conceptualize your product ideas quickly without making a hole in your pocket.
It is a technology that allows you to create a three-dimensional solid object from digital files using CAD software and a 3D printer.
In this method, a fabricator starts building the design from the bottom and builds up successive layers until the product is finished.
Depending upon the structure and dimensions of your product the 3D printer might create your product within a few minutes or hours.
If you have a large model you can leave the 3D printer switched on overnight. In the morning your prototype would be fully developed.
Back in the day, 3D prototyping was very expensive. Now, you can easily buy a 3D printer at a low price.
Using websites like Shapeways and 3DHubs you can easily print the parts of the product and get them delivered to your house at a very low cost without the up-front investment of buying your own 3D printer.
CNC Machining
CNC machine work example
Computer Numerical Control (CNC) is a process where machines are controlled by computers.
You just need to make a 3D model of your product using CAD and then input the details into the machine.
That’s it! Your work is done. The machines will automatically start manufacturing the product according to the specifications.
Using this method, you are able to build products that are very close to the end product.
You can easily create prototypes in just a few hours and make modifications to them in one go.
Although CNC machining is more expensive compared to 3D printing.
Vacuum Casting
If you are looking to make plastic prototypes then vacuum casting is for you.
Using your method you can make prototypes that have the same color, size, texture, and feel as the final product. This is an economical and rapid way to develop prototypes.
Vacuum casting uses a solid master pattern to make a silicon rubber mold.
The pattern can be any physical solid that’s a copy of the finished part. The pattern is often a 3D-printed part.
The master pattern is suspended in an empty casting box which is filled with liquid silicone.
Once the silicone is cured it’s cut open and the pattern is removed; leaving behind a hollow cavity that can now be refilled with casting resin to make a copy of the original.
If the master pattern has a gloss finish or a textured finish this would be reproduced on the surface of each casting.
Parts can be over-molded and resins come in a variety of hardnesses – from extremely rigid to rubber-like materials.
The silicone molds last up to about 20 copies.
Vacuum casting will not work if you are making metal or wood components.
Repeat the Feedback and Refinement Cycle
I know you feel very happy when you make a functional prototype. But, don’t get too carried away.
Instead of just making 1-2 prototypes and sending them straightway to the manufacturer you need to constantly make new prototypes based on the previous feedback and spend a lot of your time and energy at this stage.
Although, don’t waste too much of your time developing prototypes.
This is because after making the prototype you need to find a good manufacturer and make arrangements for supply chain management which will also take a lot of time.
Basically, you need to find a balance at this stage. There is no fixed number on how many prototypes you should make in a particular time period.
It all depends on your product.
The key thing to remember is that you need to make several prototypes, test and modify them constantly and then select the best one.
Test the Product
Once you have made the prototype it’s time to test it.
In this process, you try to check its build quality and if the product is functioning properly as intended.
Sometimes, the recent changes that you make in the prototype can hamper the other functions which were working perfectly fine before the changes.
You also want to check if the product can withstand rigorous everyday use.
You should test the prototype both on your target audience and teammates.
You can give 2 prototypes that have different names, color schemes, and textures and ask your audience which one they would buy.
Different products have different testing methods. But, are 4 testing methods that would apply to any product:
(Make sure that while taking all the tests you are regularly taking the feedback of the people and making necessary changes.
In any of these methods if your product breaks down or doesn’t work properly you will again jump back to the prototyping stage).
Usage Test
Here, you are making sure that the people are able to use all the functions of the product.
Can the users easily use your product without any confusion?
Are all the screens, buttons, and levers working effectively?
Can your product easily solve the problem of the user?
Can users open certain parts of your product without breaking the other parts?
You got the idea right?
Heavy Testing
Not everyone will use your product with care. Some people will use the product with extreme force.
If your product is not durable your sales would eventually go down.
To avoid such scenarios make sure that your product withstands extreme forces.
Drop Test
Products often get slipped out of hands or get dropped off the table.
If your product easily breaks down in such scenarios, you need to again go back to the prototyping stage and improve the build quality of the product.
To test the durability, drop the product on a solid surface like concrete.
Standard Test
When you buy products you see the logo of ISO behind the product.
This logo shows that the product meets all relevant standards and safety requirements.
You also need to make sure that your product meets the requirements of all the standard tests.
P.S: When doing all these tests don’t oversell your idea. Instead, just give your product to your users.
Let them handle your product any way they want. Your target audience might find something which you and your team might have not focused on yet.
Protect Your Idea Legally
Once you have made an awesome product you need to stop other people from stealing your product idea.
You can easily protect your idea legally using the following methods:
Patents
Trademarks
Copyrights
Non-Disclosure Agreement (NDA)
The golden rule of protecting your idea is not to tell about the product to anyone unless they can be trusted and it is required.
Time to Make Your Product
Here, comes the most exciting part of product design.
It’s time to turn your prototype into a full-blown working product. Without wasting time, let me tell you how you can make your product.
Who Is Making the Product?
Are you going to manufacture the product or do you want a manufacturer for it?
If you are going to manufacture yourself then you know what to do. Skip to the next step.
On the other hand, if you need a manufacturer keep reading the article.
How Many Products Are You Going to Make?
You need to answer the question first before you start finding a manufacturer.
Do you want to produce small quantities of products and then sell them locally?
OR
You have big dreams and want to produce products in large quantities and sell them all over India or worldwide.
The answer to this question will help you decide which of the following manufacturing routes you will take:
Commission
Manufacturing products on commission means that the products get produced when you order and pay for them.
Customized shirts and paintings can be produced using the commission strategy.
Small Batch Production
In small-batch production, products are produced in specific groups in smaller quantities. Similar components are produced together.
Since you are producing goods in smaller quantities they are cheaper to manufacture and you don’t need a big warehouse to store them.
You can catch the issues in your design easily and if there is a trend you can tailor your product to it.
Even if you get poor-quality products you don’t have to worry a lot since you don’t have a lot of products in hand.
On-Demand Manufacturing
The On-demand manufacturing is a process where products are only manufactured when they are demanded and in quantities required.
Using the internet and cloud-based technology manufacturing companies can develop advanced online platforms that allow customers to upload models and get quotes for parts in real time.
Customers stay connected with the manufacturer till they get the order.
Mass Customization
Mass customization refers to a manufacturing process where customized goods are produced according to the customer’s requirements.
The whole business model revolves around computer-aided software. Customers get a variety of predefined features that they can choose and personalize.
The cost of the final product will depend on the level of customization.
Mass Production
In mass production goods which have the same specifications are produced over and over again in large quantities.
In mass production, multiple assembly lines are involved where people are given a set number of tasks that they have to repeatedly do on a daily basis.
The manufacturing cost is low since repetitive and standardized processes are used to manufacture goods.
Which Method Is Ideal for You?
If you are new to the business and want to test out your products or if you are unsure about the demand for your product you can opt for small batch production.
On the other hand, if you want to produce goods in large quantities then mass production is an ideal manufacturing process for you.
If you want to provide customized goods in large quantities then go forward with mass customization.
Choose Your Manufacturing Method
You also need to decide which manufacturing method you will use.
The method that you will choose will purely depend on the type of parts you are using and the type of design you will be incorporating.
Now, there are tons and tons of manufacturing processes you can opt for. I won’t be diving deep into this topic.
But, here are the top processes that you can use:
Injection Molding
CNC Machining
Welding
Forging
Rolling
Weaving
Blow Molding
Laminating
Vacuum Casting
Stamping
Punching
Extruding
If this process is very confusing for you consult a freelance product designer or a product development firm.
Don’t try to do everything by yourself.
Trust me, spending money at this stage and making sure your design and manufacturing process is perfect is very important.
If you don’t spend money now, you will spend much more later on when you tweak your design or change your manufacturing process.
If you have followed all of the above steps properly, you must have understood how much money you need to manufacture the product and at what price you would be selling it.
Once you have gotten a figure, you can raise funding for your idea.
Now, there are several ways to raise money. But, if you don’t have a huge manufacturing cost you can invest your money in the project and sell a small batch of your products.
The profit you earn gets reinvested in the business and this cycle keeps on repeating.
See, you must put some money into your business even if you are raising money.
This is because investors will see how much money you have invested before giving you the money.
Apart from self-funding, you can even take loans from your family members.
If you want to raise a small amount of money you can even use your credit cards and repay the money on time.
Now, let’s see some other legit ways of raising funds:
Crowdfunding
Angel investment
Apply for loans under government schemes
Get funds by winning contests
Startup incubator
Startup accelerator
Sell Your Product
You did it! After months of researching, prototyping, refining, contacting a lot of manufacturers, and raising money your product is ready to sell.
Let’s understand different ways of selling your product:
List on 3rd Party Ecommerce Stores
List of 3rd party e-commerce stores
At the start of your journey, you can list your products in various e-commerce stores and start selling them with little upfront costs.
Obviously, these websites would take a commission from you but, this is the fastest way of selling your products.
You can list your products in the following stores:
Amazon
Flipkart
eBay
Snapdeal
Pepperfry
IndiaMART
Myntra
Build Your Own E-commerce Stores
Sites to build a personal e-commerce store
If you are confident about your products and want to scale them rapidly then you can even build your own e-commerce store.
The best part here is that you don’t need to be a coding ninja!
You can use WooCommerce which is a WordPress plugin that allows you to create your own store where you can sell any product.
You can integrate a major payment gateway with WooCommerce and build fast loading and easy-to-use e-commerce website.
If you don’t want to use WordPress you can opt for Shopify. With tons of templates and easy customization, you can design a beautiful-looking store.
You can easily set up payments and shipping and start selling within a few hours.
BigCommerce has the same functionalities as Shopify. Using this platform you can host and build your online store.
All 3 of them provide you with a free trial so, you can try them first and understand which one suits your requirements.
Sell in Bulk to Retailers or Distributors
Instead of directly selling your products to the customers you can sell them in bulk to retailers who will then sell to customers.
When your products are present in retail outlets customers are available to physically check the product due to which they are able to make more informed decisions.
Retail outlets also give access to a huge consumer base and if your product is good your sales would also increase.
Although since you are adding another person into the supply chain your profit margins will get reduced.
In the start you may face problems in selling your products but, as your sales increase your cost of manufacturing per unit will get lower.
Licensing
If you are able to patent your idea you can sell the right to manufacture to other companies.
The company which is using your product idea will initially pay you a lump sum amount in advance and then pay you royalties (a percentage share of each sale).
According to your product, the royalties will range from 2% to 10% of net revenues. The royalty rates change from product to product and industry to industry.
Conclusion
That’s it! I have mentioned all the steps that you need to take in order to turn your genius idea into a high-selling product that makes the lives of your customers easier.
The process might seem lengthy and difficult but surely a fruitful path to cover. All the topics related to the process like researching, prototyping, manufacturing, and licensing has been covered in the article.
FAQs
What are the 4Ps of designing?
The 4Ps of designing are people, products, partners, and processes.
Why is product design important?
With a good product design, the efficiency of the product can be improved and it can also give it an upper hand in the competitive market.
What are the 7 elements great of design?
The 7 elements of a great design are space, line, light, color, form, texture, and pattern.
What is the main focus of product design?
The main focus of product design is to blend customer satisfaction with a business goal t have consistent growth in the market.
