The global eCommerce industry is rapidly changing and growing. This has disrupted the traditional retail sector, leading to many businesses shifting to the eCommerce space. With new players entering the eCommerce market, the competition among the brands is also rapidly increasing, and every brand wants to stand apart from the rest.
What makes a brand stand out is its ability to provide quality products and services and satisfy its customers by offering the best possible experience. But not every brand knows how to do that. To help brands leverage the power of conversations with customers, there are certain platforms that can assist them in doing so.
One such amazing platform is BIK. BIK is a multi-channel conversational marketing platform. It is designed to spark high engagement and exciting conversations for customer-focused brands, helping the brands increase their ROI.
In this article, discover more about BIK, its founders, products and services, marketing strategy, and more.
BIK is a multi-channel conversational marketing platform that was built from the ground up. The new generation is always looking for fast and quality responses to complete the purchase cycle, and brands are looking to achieve the maximum possible return on investment. The platform is designed to spark high engagement and interesting conversations for the brand centred on customers.
BIK – Industry
BIK’s product is built for eCommerce brands all across the globe. Global eCommerce is a $3.3 trillion industry. The Indian eCommerce market is predicted to reach $74.8 billion, while the US eCommerce market is predicted to reach $875.2 billion in 2022.
Most eCommerce brands use Shopify or other website builders. There are about 3.9 million Shopify stores globally.
In India and the United States, eCommerce brands are expected to grow at a 20% CAGR over the next five years.
BIK – Founders and Team
Sonakshi Nathani and Ashutosh Singla – Co-founders of BIK
Sonakshi Nathani and Ashutosh Singla are the founders of BIK. They were college batchmates and are both Computer Science graduates from IIIT, Hyderabad. Sonakshi has earlier worked at Microsoft, and Ashutosh has worked in Canada for startups like Zenfits and Square. In terms of tasks, Sonakshi takes care of the business aspect, and Ashutosh takes care of the tech side of the company.
BIK – Startup Story
BIK Team
WhatsApp is core to India; the founders closely observed the rise of businesses selling things unofficially on WhatsApp for either sale, marketing, or customer support. They felt that WhatsApp and other social media channels would play a huge role in how commerce would be conducted in the future. They believed that social apps would be the next era after websites and apps. That was when they decided to partner with WhatsApp and launch BIK.
Most of the initial customers came from their known contacts. They started a pilot with them and worked closely with the contacts to understand which features were valuable. Working closely with the merchants and businesses helped the founders get insights that shaped the product.
Cold approaching and referrals were also used by BIK to acquire the first few users. LinkedIn came in very handy for cold-approaching potential brands.
BIK – Mission and Vision
BIK’s mission and vision is to be the best platform in the world for brands, that helps them drive the maximum possible ROI. Also, it aims to make brands limitless and help them leverage the power of conversational marketing with BIK.
BIK – Name and Logo
BIK.ai – The founders wanted to go upmarket and enterprise and deploy cutting-edge technology in ML/AI to enable data-backed decision making
BIK – Products/Services
Today, businesses and eCommerce brands are unable to effectively engage with potential customers through conventional channels such as SMS, emails, and ads because they have lower open rates. Personalized messages provided by BIK make customers 70% more likely to make a purchase, thus assisting brands in boosting their sales.
In the ever-expanding market, BIK enables brands to gain a higher reach by targeting over 2 billion active WhatsApp users every day. The ability to re-engage with lapsed customers and encourage them to complete their purchases is one of the biggest strengths of BIK.
BIK offers BIK Campaigns, BIK Bots, BIK Growth, and BIK CRM—all 4 products enable your consumers with high intent to purchase from you, enabling your growth.
The founders launched another business line w.r.t. to the previous product, Bikayi. They felt that it was not that easy to monetize the SMBs, rather, it was easier to engage them and help them get revenue, but relatively hard to monetize. That was when they decided to launch another business line for enterprise customers. While the impact in both businesses is equally high, BIK is financially more sustainable.
BIK – Business and Revenue Model
The company’s product costs $20k per year for most brands.
BIK – Customer Acquisition Strategy
The company places the right emphasis on customer success and fulfilling their needs. Great customer success and the speed of releasing new features are its moats. The company’s success team works very closely with these brands to drive ROI on social channels. The brands really like the amount of effort and dedication that BIK’s team puts into each and every task.
Now that the company has more confidence in its product and the market, the next steps are to go international and increase the number of sales folks in the company. It is planning to double down on sales and reach out to a lot of potential brands. BIK is a little conservative when it comes to performance marketing; for them, it is mainly cold reach outs and referrals.
BIK also uses a few tools like Salesforce, Notion, Jira, and Figma to support its functions and make them more efficient.
BIK – Marketing Strategy
When BIK was launched, the founders did a lot of research and, based on the insights, began using personalised emails addressing the problems of the brands that they wanted to target and pointing out how D2C brands were still using traditional ways of interacting with their customers.
This marketing tactic initially helped the company onboard its first few D2C brands. BIK provides modern solutions to D2C brands, helping them increase their ROI.
BIK is making its product ready for the US market as well, as it is a hub for eCommerce companies and opportunities. Its growth plans revolve around scaling up; it has already hit more than 1 million messages within three weeks of launch. The scale-up would majorly involve geographies like the USA, ANZ, and the UK, apart from India. BIK will continue to invest heavily in research and development, evolving itself towards its vision of making brands complete their journeys through conversations.
From a team point of view, they believe in quality over quantity and continue to keep their high-quality team lean to deliver quality products.
FAQs
What is BIK?
BIK is a multi-channel conversational marketing platform that was built from the ground up. The platform is designed to spark high engagement and interesting conversations for the brand centred on customers.
How much does BIK’s product cost?
BIK’s product costs $20k per year for most brands.
The Indian startup ecosystem has faced several jolts post the Covid-19 pandemic and it is because of the ease of doing business online through websites that over 70 percent of such businesses have resorted to operating on the internet. This has called for them to have quality websites that don’t crash and are able to seamlessly carry out their business.
The CEO of leading website design company CSS Founder, Mr Imaran Khan also wanted to get his own website built when he understood that there is a huge quality-price gap and there’s no brand in the industry where an affordable, high-quality, and high-performing website can be created without much hassle.
With a primary focus on quality, safety, and affordability, CSS Founder was incepted in the year 2016 with a unique mission of ‘Website for Everyone’. He says, “The high price fluctuations and the lack of expert service that is reliable was leading to the exploitation of clients. I had to wait for 2 years and still I couldn’t get the type of website that I wanted and hence this opportunity striked me.”
CSS Founder – How Do They Function?
CSS Founder Team
In a matter of half a dozen years, CSS Founder has amazed the website design industry with their global reach. They provide websites of all types alongside AMC, post-sales services, renewals etc. They have built a fully automated business with more than 80 perfect of their business coming from organic online reach and enquiries, while the remaining comes from the word-of-mouth of existing clients.
“We are extremely proud to share that we rank in the top on Google for most of the competing keywords globally. Our team takes pride in appearing on top because of the consistent hard work and focus on quality in our work”, opines CEO Imaran Khan. The expertise of CSS Founder can be gauged from the fact that they have AMC (Annual maintenance contracts with leading MNCs such as Samsung C&T, Vigilance Hair Studio, and others. Major startups that CSS Founder has worked with include Hello Healthy, Tumble Dry, Gohoarding, Nicheshoe, Global Policy Insights, and Savin Communications.
CSS Founder – USP
Today, CSR is becoming more significant for the majority of organizations as a means of showcasing their dedication to advancing society. With more than 12k websites built with expertise, CSS Founder transcends boundaries and presents itself as a brand in the website builder industry.
Imaran Khan, the director and creator of CSS Founder, also advocates for the idea that businesses should be empowered by a professional website and that both small and large enterprises in India should invest in charitable endeavors. Their inventiveness has enabled them to launch a one-of-a-kind website cost calculator that goes a long way in providing startups with much-needed insight into the cost of designing their business website.
The Noida-based leading web design company, CSS Founder, has pledged to provide over one lakh meals for impoverished children over the next two years in an effort to give back to the community. Throughout the year, the company has been on a mission to aid the poor. The team sets out every weekend to bring joy and happiness to the less fortunate.
The company’s stance is that every business should make investments because every firm has a social obligation. CSS Founder is an Indian web development leader that seeks to provide huge business opportunities right from cart owners to MNCs with their own websites so that everyone can advance. CSS Founder believes that every business should have a website that is bug-free, seamless, and has a fast loading time.
FAQs
When was CSS Founder founded?
CSS Founder was founded in 2016 with the unique mission of “Website for Everyone.”
What does CSS Founder do?
CSS Founder is an Indian web development leader that seeks to provide huge business opportunities right from cart owners to MNCs with their own websites so that everyone can advance. They provide websites of all types alongside AMC, post-sales services, renewals etc.
Which are the major startups CSS Founder has worked with?
Major startups that CSS Founder has worked with include Hello Healthy, Tumble Dry, Gohoarding, Nicheshoe, Global Policy Insights, and Savin Communications.
FTX is a cryptocurrency exchange that was founded in May 2019 by Sam Bankman-Fried and Gary Wang. It was built by the traders and for the traders. While it has its official headquarters in the Bahamas, FTX is managed from the US. Its biggest offices are located in Chicago and Miami.
FTX, along with its competitor, Binance, are international exchanges that process the majority of cryptocurrency trades around the world. Cryptocurrencies are, essentially, a publicly available blockchain that records ownership without the control of any central authority. Following this, FTX follows the bare minimum regulation that exists in the US. However, a bulk of its money flows through its books, unconstrained by regulatory requirements.
Comparison of Global Total Cryptocurrency Gains (2020–2021)
What Happened to FTX?
FTX’s own cryptocurrency is known as FTT. Sam Bankman-Fried, FTX’s co-founder, held billions of dollars’ worth of its own cryptocurrency, FTT, through his other crypto hedge fund, Alameda. This was a claim that appeared in CoinDesk, a crypto industry news service. It also stated that Alameda had been using it as collateral in other loans. This news triggered a crisis, furthering the thought at, if this being the case, a fall in FTT’s value would damage both businesses because of their shared ownership. Further, it prompted questions and fears about the validity of the whole institution, as FTT itself has no value beyond FTX’s longstanding promise to buy any tokens at USD 22.
What added to the burgeoning fear was a tweet by Binance’s Chief Executive Changpeng Zhao which said that his company was selling its FTT holding worth approximately USD 500 million because of recent revelations about FTX. Following this announcement, the value of FTT collapsed and immediately the firm suffered a withdrawal surge as customers began withdrawing funds. Within a period of three days, users withdrew USD 6 billion in crypto tokens from FTX.
Within a couple of days, Changpeng Zhao of Binance announced that his company had reached an agreement to bail out FTX by buying the company with the condition that Binance has the discretion to pull out of the deal at any time. The very next day, Zhao announced that his firm was backing out of the deal. He said – “The issues are beyond our control or ability to help.” Binance claimed that discovered discrepancies in the due diligence process, as well as the US, had launched regulatory investigations into FTX.
Future of FTX
According to Bloomberg, Bankman-Fried said his firm FTX, needed USD 4 billion to stay solvent with a funding gap of USD 8 billion. However, after Binance walked away from the potential distress deal, it is unlikely that FTX will find other backers.
Co-founder and Chairman of Coin Metrics, Nic Carter, said, “Sam needs to abandon his delusions of cobbling together some deal. There’s no one on earth that’s going to bail FTX out, unless the Fed is inclined to do it. It’s just not going to happen.” If FTX folds, it could have a serious and long-lasting negative impact on individual investors, venture capitalists and even other crypto businesses.
Carter continues, “There are going to be big victims here. There will be a lot of innocent victims, not just individuals but also other firms like fintech firms, crypto firms that were providing access to end users. There is going to be some extremely tough knock-on effects.”
The immediate effect of the FTX crisis has caused bitcoin to plummet from USD 20k a coin to USD 16.5k a coin with the wider market falling 5% according to CoinMarketCap. Companies and protocols that have FTX exposure are proving their liquidity. If the FTX exchange fails and closes, there is no clarity on whether any of the bitcoin that function on that protocol would be retrievable. It could lead to a loss of millions of dollars, overnight.
The value of the entire crypto market is currently at USD 800 billion from the last year’s November high of USD 3 trillion. The fall was the mixed result of crypto-specific events and macroeconomic issues. The industry, which has been struggling to convince regulators, investors and customers of its reliability and trustworthiness has suffered a setback that will take a long time to reverse if it does. The overall financial market is quite resilient to the ups and downs of the crypto market, which is a very insignificant systemic threat.
The Aftermath of FTX Downfall
Bitcoin Crashes as FTX Collapses
As unregulated as the crypto market currently is, this sudden collapse has triggered action and the rising concern of the need for a regulatory authority.
The Crackdown
Regulators are working towards freezing parts of FTX’s business, while other divisions file for insolvency or preparing for halting operations.
Scrutiny on Investors
Venture capital firms as well as investment funds which invested heavily in FTX are also facing inquiries.
Sponsorship Deals of Sports
FTX’s collapse has put sports sponsorships worth hundreds of millions of dollars at risk, right from the naming rights for an NBA arena to the patches on MLB Umpire’s uniforms.
Conclusion
Historically, cryptocurrencies have rebounded to new heights following every calamity. It seems to make other crypto ventures stronger. However, in the face of the current turmoil, investors might hold on to their crypto coins on exchanges for a much shorter period of time. They might also only use exchanges as transactional vehicles. The core principals of the other crypto ventures remain unchanged, as recent turmoil may represent a unique opportunity for bullish investors, but with different challenges. Time will tell.
FAQs
What is FTX?
FTX is a cryptocurrency exchange that was founded in May 2019 by Sam Bankman-Fried and Gary Wang. It was built by the traders and for the traders.
How did the FTX crisis affect bitcoin?
The immediate effect of the FTX crisis has caused bitcoin to plummet from USD 20k a coin to USD 16.5k a coin with the wider market falling 5% according to CoinMarketCap.
How much money did FTX need to stay solvent?
According to Bloomberg, Bankman-Fried said his firm FTX, needed USD 4 billion to stay solvent with a funding gap of USD 8 billion. However, after Binance walked away from the potential distress deal, it is unlikely that FTX will find other backers.
Cryptocurrencies have been gaining a lot of popularity lately, as more and more people are looking for ways to invest their money. However, before you jump on the crypto bandwagon, there are a few things you need to know in order to be able to safely invest in cryptocurrencies.
Here are just some of the things you need to keep in mind when investing in cryptocurrencies:
Do your research. Just like any other investment, you need to make sure you understand what you’re getting into before investing any money. For instance, if you want to invest in Kadena coin, you would have to first check out Kadena price and other dynamics involving the coin. This is the same with every other cryptocurrency. Make sure to do your research and only invest in cryptos that you believe have a bright future ahead.
Have a long-term outlook. Focus on long-term growth potential. By holding onto your investments for the long term, you’ll be more likely to see profits down the road.
Where can I find more information about cryptocurrency investment?
There is a lot of information available on the Internet about cryptocurrency investment. However, it is important to be careful about which sources you trust. It is always a good idea to do your own research and consult with a financial advisor before making any investment decisions.
Global Venture Capital, Private Equity, and Merger and Acquisition Investments in Blockchain and Cryptocurrency from 2018 to H12022
What are the benefits of investing in cryptocurrency?
One of the main advantages of investing in cryptocurrency is that it’s still a relatively new market. This means that there’s a lot of room for growth and development. So, if you invest early on, you could potentially see a lot of returns in the future.
Another benefit of investing in cryptocurrency is that it’s decentralized. This means that it’s not subject to the same rules and regulations as traditional fiat currencies. For example, governments can’t just print more money whenever they want to – which can often lead to inflation. With cryptocurrency, there’s a set amount of units that can ever be produced, so inflation isn’t really an issue.
Lastly, cryptocurrency is also quite secure and private. Transactions are often done through blockchain technology, which is very secure and difficult to hack. And because transactions are anonymous, your personal information isn’t at risk either.
What is the best way to invest in cryptocurrency?
First, it’s important to do your research and understand the risks involved before investing any money. Cryptocurrency is a volatile market, and prices can fluctuate rapidly. It’s important to have realistic expectations and be prepared for the possibility of losses.
Second, it’s generally a good idea to diversify your investments and not put all your eggs in one basket. This means investing in a variety of different cryptocurrencies, rather than just one.
Finally, it’s important to remember that cryptocurrency is a long-term investment. Don’t expect to get rich quick – patience is key!
Stay up to date on news and developments in the cryptocurrency space
There are a few things to keep in mind when trying to stay up to date on news and developments in the cryptocurrency space. First, it is important to be aware of the different types of cryptocurrencies that are out there.
Second, it is also important to be aware of the different exchanges that are available. Each exchange offers different benefits and drawbacks, so it is important to find one that suits your needs.
Finally, it is also a good idea to set up Google Alerts for key terms related to cryptocurrencies. This way, you will be notified whenever new articles or developments pop up that could impact your investment strategy.
When is the best time to invest in cryptocurrency?
The best time to invest in cryptocurrency will usually vary depending on your individual circumstances and goals. However, there are a few general tips that can help you make the most out of your investment.
First of all, it’s important to do your research and understand the risks involved before investing any money. Cryptocurrency is a volatile market, and prices can fluctuate rapidly. It’s important to have realistic expectations and be prepared for the possibility of losses.
Another thing to keep in mind is that cryptocurrency is still a relatively new technology, and there are always going to be some risks associated with early adoption. That being said, the potential rewards can be significant, so it’s important to weigh both the risks and rewards before making any decisions.
Finally, it’s also worth considering how much you’re willing to invest. Cryptocurrency is a long-term investment, and you shouldn’t put more money into it than you’re comfortable losing. Start small and then gradually increase your investment over time as you become more familiar with the market.
In short, only invest what you can afford to lose, and do your research before investing in cryptocurrency. Also, have long-term goals.
Do you want to buy yourself the best products and save money at the same time?
If yes, then you should install these chrome extensions that are specially made for shopping.
Using these extensions you would be able to analyze the price fluctuations of the product over a period of time and get exciting coupon codes that maximize your savings.
Without further ado, let’s see the best Chrome extensions to help you save money when shopping online.
Now, I am going off-topic but I want to tell you the possible reason why PayPal paid such a humongous money to acquire Honey.
If you are not interested in knowing the reason jump to the features part.
Now, let us first understand all the functionalities of Honey. This will help in finding out why PayPal bought Honey.
Honey at its core provides coupons to its users and also tells you the best deals on other sites.
For example, if you are buying products on Amazon if the extension finds a better deal on Nike it will tell you to buy from Nike to help you save the maximum amount of money.
Secondly, they have tied up with 30,000 merchants. So, when you are buying from Amazon if the extension finds a better deal with another merchant it will notify you.
Honey also has a mobile app through which users can add products from different retailers to their cart and pay for them all at once.
So, instead of using the Amazon app for shopping, you can directly use the Honey app to buy products from Amazon.
PayPal as we all know is an online payment system through which you can pay money. As you can see PayPal is at the bottom of the funnel.
People only use PayPal at the end of their buying journey.
Acquiring Honey allows the company to move upwards in the consumer’s purchasing decision.
Secondly, PayPal could integrate Honey with its child company, Venmo which is a digital wallet through which you can pay and request money from your friends.
The only difference between them is that PayPal is targeted toward businesses while Venmo serves personal transactions.
So, PayPal can integrate Honey with Venmo and allow their customers to buy products from the app itself.
Features:
The extension will find the best deals from 30,000+ sites and apply promo codes automatically at checkout.
You can add the items to the Droplist and Honey will email you if it detects a price drop.
The extension gives you the lowest price at Amazon factoring in estimated shipping costs and Prime status to help you save maximum money.
See current and historical pricing.
Get cash back.
How to Use Honey and Save Money When You Shop Online
FlipShope
Chrome Extension
FlipShope – Price Tracker Extension
Website
flipshope.com
Users
80,000+
Ratings
4.6
FlipShope Extension
FlipShope is a comprehensive shopping chrome extension that you will enjoy using.
It applies the best coupons and promo codes available on your shopping platform.
And also works as a reminder of the price drop on desired products in the coming days.
If you have your eyes on something particular and you are waiting for the discounts, surely you can take help from FlipShope.
Features:
Track price fluctuations using the historical price graph.
Add the products that you want to buy to the watchlist and the extension will notify you when their price drops.
If you buy products from Flipkart then this extension is a must-have.
They allow you to have maximum savings by providing you with the complete details required while shopping including things like price comparison, coupons or promo codes available, and cashback.
Features:
See the product’s price history for 3 months.
Compare prices with other stores.
Get an alert via email when the costs of your favourite products drop.
Automatically apply coupon codes at the checkout.
Get coupons and free shipping codes.
Displays user ratings scores which help you in deciding if the product is worth the purchase.
If you wish to be notified of the deals and price changes each day, Keepa can help you with your demand.
It catches the price change in any of your preferred products to get you updated while also mentioning the lightning deals of every day.
Features:
The extension shows you the price history charts for over 2.5 billion Amazon products.
Find products with the highest drop in price.
Import your whole wishlist.
Gives you the best deals every day.
CouponDunia
Chrome Extension
CouponDunia Shopping Assistant
Website
www.coupondunia.in
Users
5,000+
Ratings
4.1
CouponDunia Extension
Using this extension you will get cashback, coupons, and the best offers all in one place.
It allows the easy method of price comparison while behaving as a shopping assistant that will cover up your cashback and coupons for you.
Features:
Get cashback alerts when you shop online.
View cashback rates and similar offers.
Receive real-time cashback status updates.
Automatically apply coupon codes at the checkout.
Capital One Shopping
Chrome Extension
Capital One Shopping: Add to Chrome for Free
Website
capitaloneshopping.com
Users
7,000,000+
Ratings
4.8
Capital One Shopping Extension
This extension won’t work for Indian users but, if you live in the United States then the extension will solve many of your shopping problems.
Using Capital One Shopping you can find coupon codes, compare product prices among different e-commerce sites and receive gift cards.
Features:
It helps you to save money by automatically searching and applying the best coupon codes at the time of checkout.
Compares product prices including the shipping costs and membership pricing with over 30,000 other retailers.
When you shop using this extension it gives you Capital One Shopping Credits which you can redeem for gift cards at top retailers like Walmart, eBay, and many more.
To use this extension you don’t need to be a Capital One customer.
Conclusion
We hope that by using these extensions, your shopping experience will get smoother and more fruitful.
If you use these extensions, you don’t have to waste your precious time in finding the best deals and coupon codes.
Everything gets automated!
Since these Chrome extensions are very easy to use, you can start buying products right away.
FAQs
What app is better than Honey?
The alternative to Honey is Coupons at Checkout, Shopper.com, and Wikibuy.
What is a chrome extension with coupons?
Chrome extensions with coupons are the Google Chrome Extensions that helps shopper by providing them with different coupons that can be applied while checking out from the shopping websites in order to save some money.
What is the best browser for shopping?
Some of the best browsers for shopping are Firefox, Google Chrome, Opera, and Microsoft Edge.
Are shopping browser extensions safe?
There is no particular answer to this. For consideration, many browser extensions are safe to use. Whereas on the other side of the coin, there are malicious extensions also found on the web.
It was the year 2020 when at least five automobile manufacturers like Audi, BMW, Cadillac, Porshe, and Tesla were rolling out a subscription model for certain features of their high-end cars. This meant that customers were to pay monthly or annual subscription fees to use features like active driving assistance or voice recognition. This would be despite the fact that such features are already built into the car.
Tien Tzuo, Founder and CEO of Zuora – a company that helps in creating subscription programs said – “Your car could be a gigantic, heavy phone-slash-credit card. I think it’s a really short step to figure out how to turn that car into a $30-a-month revenue stream,” he says. He added that if subscription-based models prove successful, they will be here to stay.
The year 1886 saw German inventor Carl Benz patent his Benz Patent – Motorwagen, which came to be regarded as the birth year of the 4-wheeler. The 1908 Model T, an American car manufactured by the Ford Motor Company, was one of the first cars made that was affordable for the masses. In the United States, cars were adopted speedily to replace animal-drawn carriages and carts. In other parts of the world, including Europe, demand for automobiles increased after World War II.
Driving, parking, passenger comfort, and lights are all essential parts of a car. Over the years, the automobile has evolved to include various other features and controls to make the driving experience easier. These include rear-reversing cameras, air conditioning, navigation systems, in-car entertainment, etc. The 21st century has also witnessed the next-gen electric cars being commercially available.
Subscription-Based Car Model – Meaning
The Looming Future of Car Subscriptions
The business of building and selling cars is one that operates on relatively low margins. However, automakers are now aiming to build their profits substantially by charging customers monthly or annual subscription fees to access certain features. This has been possible due to the increase in internet connectivity of vehicles, enabling over-the-air software updates that were pioneered by Tesla approximately a decade ago. The deep internet connectivity of vehicles means that car companies can reach inside a vehicle to add new capabilities and tweak things from a distance. This technology can be monetized to offer certain services like heated seating, remote key start fobs, and various other creature comfort features.
Mark Wakefield, who runs the automotive and industrial practice at the consulting firm AlixPartners observed that such an approach will allow car makers to streamline manufacturing to uniform specifications and owners can then add features of choice, a la carte.
How Does a Subscription Plan Work for Car Companies?
In 2020, the car manufacturer Porsche gave a detailed explanation of how its subscription plan would work. The service also called Function on Demand will give car owners two options – outright purchase of a car feature or a monthly subscription fee to utilize the feature. The Porsche Intelligent Range Manager is the only feature currently that is available as a subscription feature. This feature optimizes the car’s navigation system to maximize the EV’s range and minimize charging stops. The outright purchase of this feature would cost USD 474 while a monthly subscription would cost USD 12 after a three-month trial period.
In the same year, Tesla made its ‘Full Self-Driving’ feature available as a subscription. Its subscription price for basic Autopilot to FSD capability is USD 199 per month, and for Enhanced Autopilot to FSD capability, it is USD 99 per month.
A monthly subscription fee would be charged for the Cadillac Super Cruise active driving assistance after its free trial. An Audi spokesperson said that the car’s Function on Demand system would allow some owners to buy the navigation after the purchase. The car manufacturer will expand the navigation system to include more features in the future.
Another luxury car manufacturer, BMW, allowed the owners of certain car models to subscribe to features like real-time traffic alerts, navigation map updates, and live concierge service from its ConnectedDrive store. The automaker is now selling a subscription service for heated seats in countries like the UK, Germany, New Zealand, and South Africa for about USD 18 per month.
By the beginning of 2022, brands like Lexus, Toyota, and Subaru were inviting owners to pay for the convenience of being able to lock or start their cars remotely through an app. In some BMW car models, automatic high-beam headlights can be unlocked through a subscription payment. General Motors and Ford are offering subscription plans for access to their hands-free highway driving systems. Automakers are aiming to generate USD 20 billion in annual revenue from offering such software-based services by 2030.
Monthly subscriptions expire and do not automatically transfer to subsequent owners, unlike an outright purchase which becomes a part of the car features. A managing attorney at Consumer Law Group, Daniel Blinn said that automakers might have to include warranty coverage for features for the time period that the subscription is alive. He further elaborated – “They’ve been paid to provide that service. That is going to extend the manufacturer’s obligation to make repairs.”
Customers only pay for required services as needed and not as part of the upfront cost of the car.
Disadvantages
Consumers who do not choose certain subscription services may still end up paying a high-cost upfront at the time of purchase, as the cost involved in installing necessary equipment will be a part of a new car.
Because of the absence of law clearly stating the necessary features that form a part of the mandatory installation, carmakers may try to play around with safety features.
Customers may feel like they are paying twice – once for the function to be built and again for activating it.
Car manufacturers are still unclear about subscription-based pricing, which needs to be regulated by law to insulate consumers from heavy rates.
As of right now, most of the subscription plans are coming from luxury automakers, as their client base is well-equipped to absorb an annual or monthly fee. However, industry analysts are predicting the introduction of subscription-based car models to the mass market as automakers are looking for new revenue streams in an effort to fund their ambitious plans to build electric, connected, and autonomous vehicles.
FAQs
What is the cost of a Porsche Intelligent Range Manager subscription?
The outright purchase of this feature would cost USD 474, while a monthly subscription would cost USD 12 after a three-month trial period.
Which car companies offer features on a subscription base?
Companies like BMW, Tesla, Cadillac, Porsche, Audi, Toyota, Lexus, and Subaru offer certain additional features on a subscription base.
What are the advantages of the subscription-based model?
Some of the advantages of a subscription-based model are:
Over-the-air capabilities present a huge opportunity for carmakers.
It is a recurring revenue stream.
It builds long-term relationships with customers.
Customers only pay for required services as needed.
Whether you are a freelancer, student, entrepreneur, or employee, you may have faced several instances where you need to record your screen. Screen recorders are often required to capture presentations, video calls, or to make tutorials for your employees. It can also be used to make a sales pitch for the new software that you have developed.
If you don’t want to install any third-party extensions you can use Windows 10 in-built utility called Xbox Game Bar to record your screen. To start recording, press Win + Alt + R, simultaneously on your keyboard. To stop recording press the blue button which is present on the screen (or you can also press the same combination of keys which is Win + Alt + R). Press Win + G to access your recordings. Although the problem with this tool is that you cannot highlight or annotate things while you are recording.
To solve this problem you can install chrome extensions. But, which screen recorder to install? Keep reading this article and you will surely find a screen recorder that matches your needs.
Distribution of Chrome Extensions by Their Category in Percentage (Source: TrueList)
Chrome Extensions for Screen Recording
For screen recording, there are several options for chrome extensions that you can explore. We have added some of the best screen recording chrome extensions with their features. These are:
Loom
Rating: 4.7 Best for: Overall Screen Recording
Loom – Best Screen Recording Chrome Extension
Chances are that you might have heard about this tool. Loom is an easy-to-use screen recorder that allows you to record your screen, camera, internal audio, and microphone. Using Loom’s mobile app you can even record your android or iOS screen.
Features of Loom:
Record in up to 4k HD resolution.
Viewers can leave timestamped comments and emoji reactions.
Get notifications when someone views or comments on your videos.
All the videos are uploaded to the cloud and you can instantly share them with a link.
Add tags to your videos and keep them in specific folders so, viewers can easily find them.
You can even download your videos from the cloud on your system.
Choose who can see your videos and password-protect them.
Access all of your videos on the go using Loom’s Android or iOS app.
Since Loom also acts as a video hosting solution, you can add your Zoom and Google Meet recordings in Loom HQ.
Cons:
The free plan has a 5-minute recording duration and you can only record 25 videos.
Pricing:
Starter – Free
Business – $8.00 USD/ month (billed annually)
Enterprise – Contact the team
Screencastify – Screen Video Recorder
Rating: 4 Best for: Easy and intuitive screen recording
Screencastify – Best Screen Recording Chrome Extension
Screencastify is an excellent easy-to-use screen recorder that is loaded with dozens of helpful features. Just like many other screen recorders mentioned on this list, you can record your browser tab, whole desktop, and webcam. You can also add narrations to your recordings using a microphone. Moreover, Screencastify provides basic video editing like trimming at the beginning or end, merging two or more videos, and more.
Screencastify Features:
While you’re recording you can focus your viewer’s attention on a specific idea using the pen tool.
You can even highlight specific text or images using a rectangle and add emojis.
Embed questions to specific parts of your videos to gauge if they have understood the topic.
See how many people watched your videos and how many times did they watch them.
You can also analyze how well they answered your questions.
Export your recordings as animated GIFs, MP3, or MP4.
Pros:
Intuitive interface.
With its in-built video editor you can cut, crop, zoom in, and add text.
Save your videos directly to your Google Drive.
Directly publish your videos to YouTube.
Cons:
With its free plan, you can only record 10 videos of 30 minutes.
Pricing:
Starter – $7/ month (billed annually)
Pro – $10/ month (billed annually)
Flonnect
Rating: 4.7 Best for: Screen and webcam recording with audio and easy sharing
Flonnect – Best Screen Recording Chrome Extension
Flonnect is one of the best Chrome extensions for screen recording. The extension allows you to easily record your webcam and screen along with the audio. Also, you have the flexibility to disable recording the audio if you do not wish to. So, whether you are creating any video tutorials, recording meetings, or gaming sessions, Flonnect has got you covered.
Flonnect Features:
Record your entire desktop, a selected window, or a specific application window.
Record your screen along with your audio.
Quality control options allow you to adjust the recording quality as per your requirements.
Easily share your video link with others via email or other means.
Pros:
Easy-to-use interface
Quality control options
Shareable video links
Download videos without any watermark
Cons:
Premium features require a paid subscription
Pricing:
Basic – Free
Early Bird – $2/ month (Billed annually)
Screen Recorder
Rating: 3.8 Best for: Unlimited Screen Recording
Screen Recorder – Best Screen Recording Chrome Extension
Suiting the name, Screen Recorder is a fantastic Chrome extension for screen recording. It allows the users to access screen recording as often as they want. Plus, it’s free of cost, so it works for everyone.
Screen Recorder comes with the feature of audio recording, through which you can record the audio using your system’s built-in microphone or any other audio source.
Screen Recorder Key Features:
Audio recording using the built-in microphone.
Comes with a customization feature as well.
Record unlimited videos free of cost.
Pros:
Unlimited video recording for free.
Secure and works offline.
Easy to use.
Cons:
Does not come with video editing tools.
Pricing:
It’s free!
How to record a screen using Screen Recorder? | A tutorial
Fluvid – Screen Video Recorder
Rating: 4.3 Best for: Stream Online and Record Hour-Long Videos For Free
Fluvid – Best Screen Recording Chrome Extension
Apart from the usual screen recording with a webcam feature; using Fluvid you can even stream online. It is a great feature for anyone interested in creating engaging content. It also allows the users to customize the video’s thumbnail.
Features:
Record your screen with or without a webcam along with your microphone.
Trim or crop your recordings.
Add your videos to different folders.
Export your videos in MP4 format.
Get viewer insights and video engagement metrics.
Pros:
No watermarks are added to the video even in the free plan.
You can record 50 videos of 1-hour duration which is the largest when compared to its rivals who cap the recording time limit to 5 minutes.
Perform live streaming for up to 1 hour with a maximum of 50 participants.
Cons:
Limited editing and annotation tools.
No advanced analytics.
Pricing:
Pro – $8/month
Nimbus Screenshot & Screen Video Recorder
Rating: 4.6 Best for: Organizing All Your Information in One Place Using Nimbus Note
Nimbus Screenshot & Screen Video Recorder – Best Screen Recording Chrome Extension
Nimbus Screen Recorder allows you to capture the entire desktop, a tab, and a web camera with your microphone sound. You can also take screenshots of an entire web page or a selected area.
However, if you are looking for a free tool then Nimbus is not for you since most of the advanced features are included in the premium plan. Although if you upgrade to its pro plan you will unlock the true potential of this tool.
Features:
Annotate your videos with various shapes, including arrows and rectangles.
Add arrows and stickers and highlight text on your screenshots.
With its select and scroll option, you can take screenshots of the webpage while scrolling down.
Pros:
Save your videos on your disk or to Nimbus Note where you can organize all of your videos and screenshots in one place.
Cons:
Most of the helpful features like editing, uploading videos to Drive and adding your own watermark are all included in the premium plan.
In the free plan, you can record videos for up to 5 minutes.
Pricing:
Pro – $4/month
Team – $5/month per user
Combo Pro – $6/month per user
Business – $8/month per user
Vidyard
Rating: 4.3 Best for: Tracking Viewers of Your Videos
Vidyard – Best Screen Recording Chrome Extension
Vidyard Chrome extension is mainly famous for its feature of tracking who watches the videos. Using Vidyard you can record your screen and webcam without any complications. The process of sharing your videos is also straightforward and you will also get viewer metrics as well.
Features:
Record high-quality (HD) videos.
Embed your video on your website or share it on social media.
You can also share your videos through email.
Get metrics on who is watching your videos and for how long.
Receive notifications when someone watches your video.
Trim your videos.
Pros:
To spice up your videos you can add animated GIF thumbnails.
Add speaking notes and draw on the screen while recording.
Cons:
No editing features.
With its free plan, you can record and upload up to 25 videos. The video recording length is 30 minutes.
Pricing:
Pro – $29/per month
Business – Contact the team
Awesome Screenshot and Screen Recorder
Rating: 4.6 Best for: Recording Screen and Taking Screenshots Using a Single Tool
Awesome Screenshot and Screen Recorder – Best Screen Recording Chrome Extension
As the name suggests using this tool you can capture your desktop screen, webpage, or webcam and also take screenshots of the entire page, selected area or visible part. After recording the video you can share it with others using a link. It has been there in this business for 10+ years and has over 3 million users globally.
Features:
Include your face in your video by embedding your webcam.
Annotate the screen while recording or add annotations afterwards.
Save your recordings on your online account or on your system.
Download videos in MP4 format.
You can share the recording in Jira, Slack, Trello, Asana, and GitHub.
Annotate your screenshots with circles, rectangles, lines, etc.
Highlight important information on your screenshots and blur sensitive information.
Save the screenshot as an image in PNG or JPG format and download it as a PDF.
Pros:
Unlimited video recordings in the free plan.
All the videos are uploaded to the cloud and you can instantly share them.
With its two-tab menu, you can quickly switch between Awesome Screenshot and Awesome Screen Recorder.
You cannot record the screen and webcam at the same time.
You can only record for up to 5 minutes in the free plan.
Pricing:
Basic – $6/month
Professional – $8/month
Movavi Screen Recorder
Rating: 3.1 Best for: Recording Unlimited Videos With No Time Restrictions
Movavi Screen Recorder – Best Screen Recording Chrome Extension
Using the Movavi screen recorder Chrome extension, you can record your desktop screen or any webpage available on the internet. There is no mandatory registration required to download the extension. You also don’t need to install any extra plugins. Just install the extension to your Google Chrome and you are good to go.
Features:
Record any screen, window or tab on your desktop.
Capture your voice with a microphone and record tab sounds.
Embed your webcam image into the recorded video.
Record your Zoom meetings, Google Hangouts sessions, Skype conversations, etc.
Download the recorded videos on your system for free.
Pros:
You can record unlimited videos.
At the same time, there are no restrictions on the length of the video you can record.
It is one of the safest screen recorders since it doesn’t scan your browser data.
Cons:
If you use the free plan, all the videos will have a watermark. To remove it, you need to upgrade to the premium plan.
There is no in-built option to edit your recorded videos.
Pricing:
1 PC – ₹1,499 (1-year subscription)
1 PC – ₹1,999 (Lifetime)
Screencast-O-Matic Launcher
Rating: 4.4 Best for: Adding Transitions, Music, Annotations and Drawing
Screencast-O-Matic – Best Screen Recording Chrome Extension
Screencast-O-Matic Launcher provides a comprehensive video recording solution. You can record your entire desktop, web browser, an area of your computer screen, and webcam. It also offers various editing and hosting solutions.
Features:
Host your videos and organize them into different folders.
Customize the video player.
Set a publish or expiration date.
Easily share your video on YouTube, Vimeo, Google Drive, or Social Media.
Add rich text, arrows, shapes, and images,
Import your own music or add stock music from the music library.
Add your voice narration.
Using its video editor you can cut, copy, resize, and merge different sections of the video together.
Control the visibility of your videos and add password protection.
Pros:
You can record unlimited videos with its free plan.
Enhance the viewing experience with animate overlays and transitions.
Using the drawing tools you can draw anything on your screen while recording.
Adjust the speed of your video and add slow motion.
Cons:
You can only record videos for up to 15 minutes.
Pricing:
Solo Deluxe – $4/month
Solo Premier – $6/month
Solo Max – $10/month
Team Business – $8/month/user
Vmaker
Rating: 3.7 Best for: Reducing Background Noise
Vmaker – Best Screen Recording Chrome Extension
You can record your screen, webcam or both with audio and share them instantly with just a click. With Vmaker, you can record videos in HD quality of up to 4k using screen annotation and mouse emphasis.
Features:
You can also choose between multiple webcams and microphones connected to your device.
Record videos with basic frames and filters.
Reduce background noises while recording videos.
With its editing suite, you can trim, flip, crop, zoom in, mute/unmute and rotate videos.
Share your videos directly to LinkedIn, Facebook, Twitter, and Gmail.
Pros:
You can record unlimited videos in its free plan.
You would also get unlimited cloud storage.
Cons:
The free plan only allows you to record videos for up to 7 minutes.
Pricing:
Starter – $10/month
Team – $15/month
Hippo Video
Rating: 4.2 Best for: Creating Top Notch Videos
Hippo Video – Best Screen Recording Chrome Extension
Using Hippo Video you can capture your screen, edit your videos, and instantly share them with others and get real-time metrics.
Features:
Record your screen and use a webcam simultaneously.
With just a click you can share your video on social media, emails and websites.
Basic editing options include trim and crop.
Add call-outs, emojis, and tags.
Blur confidential information and add intro and end cards.
Generate gifs from videos and set them as thumbnails.
Pros:
Record unlimited videos using the free plan.
Add your branding colour scheme to the videos and insert your logo.
Share your file directly with your domain using the SSL-enabled custom domain option.
Get detailed insights on who is watching your video, how are they seeing, where are they sharing and how are they reacting to your videos.
Cons:
In the free plan, you can only record videos up to the length of 5 minutes.
Advanced editing options are only available in the premium plan.
Pricing:
Starter – $19/month
Pro – $40/month/user
Growth – $65/month/user
Enterprise – $99/month/user
Wondershare DemoAir – Screen Recorder
Rating: 4.4 Best for: Recording HD videos
Wondershare DemoAir – Best Screen Recording Chrome Extension
Being on top of the list, Wondershare DemoAir Online Screen Recorder is massively preferred for screen recording chrome extension. Through this, you can record the whole webpage or any part of it that you need. This chrome extension allows the users to draw in the recording and also, direct the viewers in the right manner.
One of the top features of a Wondershare DemoAir includes recording using the webcam and webpage recording. This comes in absolutely free and also, does not leave any watermark. The recorded videos can easily be shared to Google Classroom as well as directly to YouTube or email.
Record the desktop screen or webcam or both simultaneously.
Create Instant sharing links.
Add annotation while recording.
Editing features like trimming and others, using just one click.
Pros:
Record videos in full HD resolution.
Trim the beginning and end of the video.
Automatically save videos to Google Drive.
Cons:
The free version does not support cloud backup.
Pricing:
Standard – $9/month
Premium – $15/month
Perpetual – $75 (one-time payment)
Droplr
Rating: 4 Best for: Facility of Cloud Storage
Droplr – Best Screen Recording Chrome Extension
Then there is Droplr, which comes with an all-in-one feature of screenshots and screen recording. And after recording the video, it automatically saves it to the cloud storage from where you can access it easily. The video will be kept as a link on the clipboard, which you can share anywhere.
Droplr allows the users to download the screenshot in PNG format, and for the screen recording, you can save it directly on your device in a WebM format.
Moreover, Droplr provides features like colour highlights, text annotation, image editing, and 30 emojis. With this chrome extension, you can easily record the selected screen area, full screen, or the whole page as per your requirements.
Features:
Collaboration tools are available.
Adding unique and distinct shapes to the screenshots.
Stores the recorded videos and images in cloud storage.
Pros:
Easily annotate with texts and colour highlights.
Recordings are automatically saved to the cloud.
Record the screen as GIF or HD video.
Cons:
Cannot upload recorded videos directly to social media.
Pricing:
Pro Plus – $6/month (billed annually)
Team – $7/month/user (billed annually)
Enterprise – Contact the team
CloudApp Screen Recorder, Screenshots
Rating: 4.4 Best for: Screen Recording with Voice and Face
CloudApp Screen Recorder, Screenshots – Best Screen Recording Chrome Extension
Regarding simplicity, CloudApp is the perfect chrome extension for screen recording. It allows users to easily record videos from their screen, desktop or webcam input. Plus, the user can annotate the recorded videos during the recording, which benefits the instructor greatly. After saving the recording, you can easily share it via email and change the privacy settings between public and private.
CloudApp does not charge any money for screen recording. However, it comes with a recording limit. So, to extend the limit, you’ll have to purchase its premium version. You can easily download the CloudApp chrome extension from the Chrome web store.
Share via email or by changing the privacy setting between public and private.
Pros:
Easily share 1:1 feedback.
Directly share links to Slack.
Free sign-up.
Cons:
The free version limits the length of video recording to up to 90 seconds.
Pricing:
Individual – $9.95/month
Team – $8/month/user
Enterprise – Contact the team
Conclusion
We hope that you must have found the right tool for you. Since most of the screen recorders come with a free plan use them first for free and then go for the premium plan.
FAQs
Which are the best Chrome extensions for screen recording?
Some of the best Chrome extensions for screen recording are:
Screencastify
Vmaker
Loom
Awesome Screenshot and Screen Recorder
Screen Recorder
Wondershare DemoAir
Hippo Video
How to record your screen in Windows 10?
To start recording press Win + Alt + R simultaneously on your keyboard. To stop recording press the blue button (or you can also press the same combination of keys which is Win + Alt + R). Press Win + G to access your recordings.
Is Loom good for screen recording?
Loom is one of the best screen-recording Chrome extensions. You can install it as a desktop, mobile, or Chrome app. After that, all you have to do is select the window you want, press record, and you are good to go with your screen recording.
Confidence is essential when it comes to business and marketing. Only someone with the appropriate appearance and confidence can successfully sell a concept. It is the way to go if you want to take the initiative and be a part of every conversation. The key to selling your marketing concepts is ultimately confidence.
What to do if you need assistance developing your image and confidence? That is when image consulting comes into use. These days, image consultants and consulting are becoming more common, and people use these services to develop and improve their personalities and levels of confidence. There are over 1,498 Image Consultants in the US.
Top Industries Hiring Image Consultants in the US
Image consulting, its types, importance, advantages and disadvantages, and how to hire the right image consultant for your requirements are as follows:
What is Image Consulting? | About Image Consultant
What is Image Consulting?
Image consulting is a field of work that focuses on improving a client’s personal or professional image through appearance, conduct, and engagement. It determines how a person’s appearance influences how they present themselves professionally.
Everyone knows how crucial first impressions are. The first thing people notice when you enter a room is your body language, appearance, and self-presentation. Therefore, regardless of how smart or knowledgeable you are, if you are not correctly presenting yourself, you are missing out on a chance to impress and draw potential business possibilities.
An Image Consultant sharing her knowledge about fashion and wardrobe
In the US, 60.3% of Image Consultants are women, and 39.7% are men. 31.6% of wardrobe image consultants are women, and 68.4% are men.
When you present yourself professionally and appropriately, you immediately feel better, more confident, and ready for the job. What fashion consultants do for you is this. They’ll help you choose your outfits and get set for important business meetings.
They offer their clients helpful guidance on related and relevant topics, including accessories, clothing, style, design, color, and materials. Additionally, they provide recommendations on salons, health and wellness programs, and styling to help clients feel comfortable and confident in their fresh style.
2. Leadership Consultants
A Consulting firm | Image consulting for Leadership
All the major trends are toward leadership consultants, with many concentrating on providing businesses, organizations, and higher education institutions with leadership development programs. Their primary goal is to prepare people for leadership positions. To help the leaders appear the part and blend in, these consultants use seminars, lectures, and workshops.
3. Business and executive consultants
This type of advisor puts the onus of proof on corporate clients. They help CEOs and business people get set for social events, professional events, speeches, and conferences so they can present themselves in the best possible way.
By offering excellent guidance and coaching in areas like upkeep, styling, and specific other aspects of image enhancement, an image consultant helps a person become better versions of themselves. To aid the general public in learning more effectively, they put on workshops, conferences, group training, and presentations. Customers are inspected and evaluated before receiving specialized solutions that have impacts on their profile.
Here are a few other benefits of image consulting:
They assist you in making shopping and apparel decisions so that you can shop quickly and just buy what you require, as well as contribute to your makeover.
They help you with your lifestyle choices and fitness and wellness so that you can look and feel your best.
Image consultants have the experience and knowledge to make your image your brand.
They can assist you with self-presentation, etiquettes, and manners.
Disadvantages of Image Consulting
Following are some disadvantages of Image Consulting:
You may not always agree with the image consultant’s clothing or style recommendations for you, which can lead to misunderstandings and disputes between you and the consultant.
If you are not comfortable with your consultant’s choices, this can hinder your performance and can have a negative effect on your confidence, which ultimately leads to losing opportunities.
It can be a costly experience that is rendered pointless if you do not like the end result. Because every consultant is unique, with unique styles and processes, changing consultants might harm your style and image.
How to hire the right Image Consultant?
Following are some steps that you can follow to make sure to hire the right image consultant for your needs:
Determine which solution you absolutely require. Do you need assistance with your look, outfit, or anything else? You can only engage the correct expert for the task if you are precise about your demands and expectations.
Make a decision about the perfect version you would like to project and how you would like others to see you.
Request a referral from friends, especially from someone you believe has had a good makeover.
Use a reputable agency with an excellent track record. Carefully select the top three candidates and conduct a face-to-face meeting to evaluate who is the most skilled and appropriate for your goals.
Request that they discuss a few of their expertise with you, as this will give you a good understanding of how they operate. Before making a decision, check references, image consulting certification, and qualification. Choose the person you believe will be able to meet your needs and create a change.
Image consulting is in trend nowadays and can help you immensely if you need a makeover and pump up your confidence and create a new image. It can help you learn new etiquette and tips you need to approach new opportunities and make yourself look presentable. It might be tricky to find the right one for you with the right style and choices for you to achieve your looks. Do your research and personally interview your consultants before hiring one for you.
FAQs
Why do people need an image consultant?
An image consultant improves an individual’s self by providing excellent instruction and coaching in areas such as grooming, styling, and other aspects of image enhancement.
Is Image Consulting a good career?
There are infinite opportunities and significant earning potential once you’ve been taught and qualified as an Image Consultant and Soft Skills Trainer.
Who needs an Image Consultant?
Individuals and businesses alike seek out the services of an Image Consultant, including professionals from various fields such as doctors, lawyers, financial advisors, and others. Politicians and corporate communications professionals are examples of people in the public eye.
Do you need a degree to be an Image Consultant?
Although there are no formal education requirements to become an image consultant, there are training courses in marketing, public relations, and image consulting. Experience is an added advantage and helps you attract good offers.
The acronym CPQ stands for Configure, Price, Quote. It sounds simple enough, so why would anyone need software for that? If a prospective customer says to a plumber ‘How much to fit a shower into my bathroom?’ the plumber might reply ‘Well, you can have Model X at $300 or Model Y at $375 and the labor cost will be $400 so either $700 or $775 depending on which shower unit you prefer…’
Simple. But imagine now that a company making plumbing accessories is asked by Home Depot to supply 10 000 copper compression 90-degree elbow pipe fittings. Getting the price of supplying one unit wrong is unimportant but quoting an un-advantageous price to the customer for 10 000 units is going to lose the sale. Quoting too low a price so that the manufacturer can’t make a profit on the units means that they may well lose money on the deal.
The nuts and bolts of accurate quoting for business
CPQ software prevents these problems from happening by using artificial intelligence and an empirical rules-based system to ensure that absolutely every variable is considered when costing out, in this case, the manufacture of a 90-degree elbow adapter.
A dashboard is available to the CPQ user that might involve:
Adding in the cost of the hexagonal steel nut that fits the unit to the accepting copper pipe
Accounting for the cost of the copper ‘olive’ (a piece of copper that looks not unlike a wedding ring) that makes the watertight seal when it is compressed.
The cost of shipping 10 000 units, possibly to various different Home depot locations.
The labor cost of packing the units into boxes.
The cost of the cardboard boxes and even the parcel tape needed to seal them
The variable sales tax rates in differing states.
And that’s just for a piece of copper bent at 90 degrees with a threaded nut over the end. Imagine the complexity of manufacturing a car engine and quoting for that, or even running an e-commerce business with hundreds of available product lines. The more complex the product, the more inter-related variables exist, which effects the cost of manufacturing and producing it. In computing circles, this inter-relationship of so many factors is known as ‘combinatorial explosion’. The only way to accurately consider them all and create a realistic price that offers sufficient profit to the manufacture is by using a Configure, Price, Quote platform.
Pricing Safety Nets
The even better thing about CPQ software and its rules-based automation system is rather like changing a formula in a spreadsheet. If the cost of 22mm hexagonal nuts increases by, say, 5%, clearly that doesn’t mean that the cost of the entire unit for sale goes up by that amount. Instead, it’s possible even to build in a safety net on the CPQ dashboard by assigning a ‘worst possible case’ scenario, whereby perhaps the cost of 22mm hexagonal nuts increases by 20%. The AI prediction engine would then offer the company management a transparent ‘at a glance’ inflated cost of manufacture should that worst case occur. In which case, the company might mitigate that risk by adding on 2.5% to each unit cost on their quote to home depot, or perhaps offer them a discounted price for buying 20k units instead of 10 000. In short, CPQ software puts organizations squarely in control of their quoting. CPQ can even factor in the cost of competitors’ offerings. It only needs a salesperson to spend a couple of hours on Facebook or Instagram to find the prices offered by their competitors, feed them into the CPQ and the platform makes accurate like-for-like comparisons. In this way, the company quoting already knows if they are slightly cheaper or more expensive than their competitors.
Quality is key
Naturally, there is more to doing business than just providing a quote that is satisfactory to the prospect and advantageous to the seller. Quality of product, longevity, how many returns to store by end users is paramount. If Home Depot sell 10 000 plumbing elbow units but 1000 of those are returned to the store by unhappy customers due to product quality, very soon the manufacturer of those units is going to find themselves out of business. And that’s not just a hypothetical situation – since the United Kingdom left the EU, it has become far more difficult for UK businesses to source quality items made in Germany and France, instead turning to China for products that often have a considerably higher failure rate. CEO’s have found that running a business in the UK has become more difficult post Covid-19 and Brexit, as this BBC video article outlines; therefore the need for CPQ software has become even more necessary in the UK as profit margins tighten.
Once a company can be absolutely confident that the price they are offering is realistic, it becomes so much simpler to close the prospect into a paying customer, because the salesperson involved is aware of the landscape of the sale before they attempt to navigate it, offering a considerable upper hand in negotiations.
Knowledge is power, after all, and never more so than when closing a sale with an important client.
Formerly a Big Tech giant, Facebook (now Meta) isn’t even among the top 20 most valuable American companies today. Facebook, which has a market cap over $1 trillion, was one of the top five most valuable American businesses last year. The company is currently valued at around $270 billion.
Most people don’t expect a business the size of Facebook failing with any of its creations or products. However, this is untrue! Well-known businesses have experienced numerous setbacks along the way. Facebook has had some particularly severe setbacks among these.
Facebook has always been open about its development plans. Few people are aware Facebook struggled in many areas during its early years. Many of Facebook’s inventions either received harsh criticism or weren’t working for general users. Some of the products violated both internet neutrality and user privacy.
There have been instances where Facebook received harsh criticism in the US and Europe for some of its monetized services that ultimately proved to be a complete failure. In this article, we’ll talk about some of Facebook’s most notable mistakes. Let’s get going!
By the end of 2012, Poke, a Facebook application resembling the well-known Snapchat, was released. Since it copied Snapchat’s feature of disappearing photos and texts exactly, it was initially quite popular.
In an interview, Mark Zuckerberg claimed that Poke was entirely developed in just 12 days by a small team of programmers. It was a result of a marathon coding session called a hackathon.
Later, in comparison to other well-known Facebook products, Poke was One of Facebook’s biggest failures.
Parse
Parse
Facebook purchased Parse, a mobile app development platform, in 2013. Facebook had a good feeling about running Parse and growing it to heights, as the business was doing well and had big clients. But when Facebook bought it, things didn’t turn out as planned. Facebook discontinued Parse citing a desire to focus more on its core offerings.
Beacon
Facebook Beacon
Beacon, a 2007 release from Facebook, was yet another resounding failure. It was essentially a tracking program that recorded about 50 online activities and purchases of the users. Beacon then published the user’s purchase to its News Feeds without getting the user’s permission.
Thousands of Facebook users signed petitions calling for the removal of Beacon as it went into effect. Following this, about a month later, Facebook finally stopped using the tracking program Beacon.
Later, Mark Zuckerberg apologized to its users for the bizarre design and promised to do better.
Facebook Credits
Facebook Credits
Facebook developed a new shopping app for users to shop using the credits they accrued from playing games like Farmville. It was entirely for customers’ fun and benefits. However, it was a complete failure because the user couldn’t comprehend the procedure. Facebook credits ultimately shut down because of their complicated functioning and process.
Creative Labs
Facebook Creative Labs
To encourage designers and developers to create more inventive and distinctive mobile apps, Facebook introduced a new product in 2013 called Creative Labs. But the outcome was the opposite. In fact, because of this alone, Facebook experienced two significant failures: the first was Paper, a new reading app, and the second was Slingshot (the second failure of an attempt to duplicate Snapchat).
The majority of Facebook’s unsuccessful apps were products of Creative Labs. If it had persisted, it would have led to more failures for Facebook and was the primary reason for the low overhead.
Sponsored Stories
Sponsored Stories by Facebook
Sponsored Stories, one of Facebook’s most complicated and controversial products, was immediately banned because it might have to misuse risks and threats. But later, Facebook revived it with altered specifications.
Conclusion
One of the most popular social media platforms is Facebook. It has many incredible features and services that enchant the users in all regards. Initially, it faced criticisms and failures with its unusual yet innovative products. Although the ideas were pretty good in most cases, it was not enough to hold onto the audience.
This article clarified a few things regarding the unsuccessful Facebook products. Stay tuned for more articles like this!
FAQ
What are some of the failed Facebook products?
Beacon, Sponsored Stories, Creative Labs, and Facebook Credits are some of the failed Facebook products.
What are some of the companies owned by Facebook?
Messenger, Instagram, WhatsApp, and Oculus are some of the Facebook owned companies.
What are some of Mark Zuckerberg’s failures?
Facebook crisis, Criticism for his inventions, Securing investment and funding, Invasion of privacy scandal, and Critical need for massive users are some of Mark Zuckerberg’s failures.
Who is Facebook’s biggest rival??
Facebook relies on Ads as a source of revenue. So Google is the biggest competitor of Facebook when it comes to advertising.
Shalini Rath
