Startups have now become a viable option in the world, people are willing to indulge themselves in this so that they can achieve their dream to be an entrepreneur. Starting something innovative takes a lot of courage, one can be on top of the world, and on the very next day, you might see them at the bottom. Everything depends on the execution of the plan and the customer.
With over 1.3 billion people living in this country, eradicating malnutrition and hunger is not an easy job and in the future, it is only going to be more challenging. As per reports, 71% of Indians consume meat and it is a primary source of protein. Climate change is one of the most problematic factors now, it is being an obstacle to produce meat in a sustainable way.
Thanks to innovative technology and creation, people are finding ways to put food on everybody’s plate without harming nature and its creatures and by tackling climate change. Plant-based food items are on rising to provide a sustainable food system to everyone and by being slaughter-free. Just like the rest of the world, India also took partake in this industry and decided to make slaughter-free food products for its citizens.
“What do you need to start a business? Three simple things: know your product better than anyone. Know your customer, and have a burning desire to succeed.” – Dave Thomas
What is Plant-Based Meat?
To be specific plant-based meat are nothing but food items that are made by plants and look, feel and taste like meat. Nowadays plant-based meats’ popularity has increased given the positive factor that they are environment friendly and healthy as well.
They have enough amounts of proteins; calories and fiber needed for a healthy human body and cut off fat content that is harmful to the body. Plant-based meats are mostly made of soy, mushroom, wheat gluten, and beans.
Some of the most popular plant-based meat startups that are able to entice people who prefer slaughter-free products are listed below.
This article will list down the popular startups that have decided to accept the process of making cruelty-free and slaughter-free food items that are plant-based.
This food tech startup was founded in 2016 with only one aim and that is to provide plant-based products that serve the taste of real meat to anyone and anywhere. It was founded by Abhishek Sinha, Deepak Parihar, Shruti Sonali, Stephanie Downs, and Taranum Bhatia and the headquarters is situated in Udaipur, India.
The products come at affordable prices and provide its customer with a healthier option for protein. The food items that are consumed are created by soya, pea, and wheat protein.
Some of the popular items are, ‘Veg Bytz’ that looked and taste like chicken strips. There we also have ready to cook ‘Vegicken’ and not to forget, chunks of mocked chicken ‘Proteiz’.
Evo Foods
Evo Website
This startup founded in the year 2019 by Shraddha Bhansali and Kartik Dixit is making headlines since the very first day. The main reason is being, although all the items are plant-based liquid eggs, they do taste, smell, and look like normal eggs that we consume. The liquid eggs are created by mung beans.
The startup is based in Mumbai, India, and claims that these vegan eggs make omelet fluffier than normal chicken eggs. Plus they are healthy to consume as they are cholesterol-free and fat-free. Omelets and scrambled eggs made by these vegan eggs taste really good.
This startup not only provides plant-based meat but also provides seafood as well. It was founded in the year 2018 by Rupinder Singh and Simarjeet Singh, its aim is to save the environment by providing meat and seafood in a cruelty-free manner to its customer and at an affordable price.
Apart from all these, the Faridabad, India-based startup sells ready-to-eat meals that contain no preservatives and are consumed by the customer. The shelf life of these products is more than a year and can be kept at room temperature without any problem. The main attraction is the plant-based seafood and meat products for the customers.
Greenest
Greenest Website
Like its name, it food item made up of green and healthy plants. It was founded in the year 2017 by Gaurav Sharma, Kannan Krishnamoorthy, and Dinesh Jain the main goal is to give nutritious tasty, and healthy food to the consumers in Asia without harming the environment.
Based in New Delhi, India the customer’s favorite food items are kebabs, meatballs, patties for burgers, and keema all of them are plant-based but taste exactly like real meat. Free from preservatives, this company takes care of its customer’s health as well as the planet.
Vezlay
Vezlay Website
This 2011 based startup founded by Amit Bajaj gives out vegan food items to its customers that are nutritious, delicious, and healthy for them. Based in New Delhi, India the food products looked and tasted like real meat but are actually made up of soy and wheat products.
Their famous food items are Seekh kebabs, Shami kebabs, Rogan josh and not to forget their Soya Vegget an exact replica in texture and taste of chicken nuggets. These ready-to-eat food products are cost-friendly for the customers and are environment friendly as well.
Wakao
Wakao is a plant-based meat startup promising to provide juicy and delicious food. The startup was founded by Sairaj Dhond in the year 2020. The company is situated in Goa, India. The company’s main aim is to serve food that is good for its customers as well as the environment.
The company also takes care of the food soldiers through their Friend’s of Farmers initiative. Whenever someone purchases their product, the company donates 1% of that sale to local farmers. The target audience of this brand is people with high incomes.
Imagine Meats
Imagine Meats is a plant-based meat startup founded by popular Bollywood couple Ritesh Deshmukh and Genelia D’Souza. The startup was founded in the year 2021, to provide delicious food according to Indian taste buds.
The brand is created to provide people with healthy, tasty and guilt-free plant-based meat products to the customers. The wide range of kebabs, nuggets, burgers and biryani main aim is to keep the planet safe without harming it by killing animals.
We live in a time where climate change has become one of the biggest challenges of our time. With an increasing population, it is not possible to provide food without increasing carbon footprints and harming the environment.
India is the second most populated country in the world; plant-based food items will not only contribute in saving the planet but will also help its consumers living a healthy life by having tasty and nutritious food.
FAQs
Is Plant-Based Meat Available in India?
Yes, plant-based meat is a fast-growing item in the food industry and is available in India.
How Big is the Plant-Based Meat Industry?
As of 2020, the market size of the plant-based meat industry was $5.6 billion. It is projected to reach USD 8.3 billion by 2025.
Is Plant-Based Meat Healthier than Regular Meat?
Plant-based meat is considered healthier as they are lower in saturated fat and calories.
What are the plant-based meat companies in India?
Some of the plant based meat companies in India are:
If you seek some earning in selling unutilised clothes, then Meesho is the right platform, which is largely known for reselling. This online shopping portal helps to sell your unused clothes and accessories at the lowest price. Besides, it also sells women, men and kids clothing, home appliances, electronics, cosmetics etc., to a wide range of online shopping customers.
You can either be a customer or supplier while doing business on Meesho. Being a buyer, the person gets access to purchase a variety of products at an affordable rate. A seller should follow certain steps and conditions to enhance a part of Meesho in rendering services.
In the first place, the seller/supplier should create an account in terms to become a business holder on Meesho and also be accountable to pay 1.8% on the selling product as a commission rate.
Meesho is an e-commerce espouses on other social media, created to acquire items at a low rate as well as revolving around the concept of resale of products, which was inaugurated by Vidit Aatrey and Sanjeev Barnwell in 2015.
Here are the steps you can follow to sell products on Meesho.
If you are ready to start a business or sell your product on Meesho, first thing you should do is to Register on the Meesho Supplier Panel, with the help of GSTIN, PAN card and a bank account which are mandatory while creating an account.
Meesho Seller Registration
Once you have created your account, it will ask you to add your GSTIN. After that fill up your pickup address and bank account details.
Once you have successfully registered as a supplier visit Meesho supplier website and login with your email ID and password.
Step 2. List out the products you want to sell on Meesho
If you are looking for more orders, then create 3-4 catalogues. For instance, if you are selling women’s clothing, men’s clothing, and kids clothing then it would be better if you brewed a catalogue and list out the products according to it. You also have to add product size, weight, price etc. You can also add images of your product.
Once you receive an order you’ll get notification via email & on Meesho supplier panel. You just have to pack the product download the label and paste the label on the packaging. Meesho logistics partner will pickup the package from you and will deliver it straight to the customer.
You will receive the payment in your bank account after 15 days of your order delivery. Furthermore, you can also check the payment details on Meesho supplier Dashboard.
How does Meesho earn money?
Meesho App Logo
You can earn from Meesho by selling or reselling your products using social media. You earn your profit, once the product is delivered, you don’t have to worry about the shipping or returning because that will be taken care of by Meesho itself.
Meesho helps the individual by helping them to facilitate through the platform. Meesho charges a commission for every sale from the sellers. The money is charged from the seller who have signed up and retailed the goods through the platform.
They make money by delivering the product, they do the shipping work for the registered sellers and deliver the product to the consumers. Through these operations, Meesho earns a good sum of profit.
Every person wants to do a business, where they aren’t answerable to others and can function with less pressure. Getting a job or starting your own business is not an easy thing.
To start a business you need a good sum of money, that’s the main issue for many with potential ideas. What if we say that you can start a business with zero investment? Yes right, with zero investment. All you need to have is time and product.
Meesho is a platform that helps people to start their own business, where others can’t question you. You can work from and earn a huge profit by selling or reselling products. And you don’t have to worry about the shipment, as it will be taken care of by Meesho. So Register now and ripen up as a businessman.
FAQ
What is Meesho?
Meesho, is an Indian social e-commerce company, that helps individuals to sell their products. It is India’s first reselling online app.
Is product selling on Meesho profitable?
Meesho does not charge any commission from the supplier, you can sell your products on Meesho and earn profit without paying any commission to Meesho.
What are the products you can sell on Meesho?
There is a wide range of products that you can sell on Meesho. Some popular categories are:
Women Ethnic Wears
Western Wear Clothing for Men and Kidswear
Makeups and skincare products
Jewellery
Home Furnishing Products
Kitchen Appliances
Electronics and House Appliances.
What is the revenue of Meesho?
Meesho earned a revenue from sales worth INR 792.8 Cr in FY21.
How to be a Seller on Meesho?
Here are the steps to being a seller on Meesho:
Step 1. Create an account on Meesho Step 2. List out the products you want to sell on Meesho Step 3. Receive orders Step 4. Start Packaging and Shipping your order Step 5. Receive payment for your orders
Everybody realizes how time-consuming & tricky it is to draft a resume. To move past the ATS system, you must describe your skillset that’s intriguing to recruiters and suitably present your resume.
Several job hunters use virtual resume designers to save effort & time. Because many websites that sell resume maker apps give free tests or minimal membership fees, using a designer is a key to creating a good resume & is:
Simpler than drafting it yourself.
Less expensive than hiring a typical resume writing provider.
However, with so many resume maker portals to choose from, it can be hard to ascertain which one is worthwhile.
In this article, we’ll be briefly discussing about Resume Giants. Without any further ado, let’s dive right in.
Resume Giants is a cutting-edge expert profile and a self-branding company that creates tactical, well-written, and expert résumé, self-branding techniques, & interview guidance for grads, retired special forces, Government & executive experts looking for a leg up.
It aims at ensuring that its users stand out, perfectly brand themselves, and are ready for their career path by incorporating an open mindset versus classic methods and status quo techniques.
They offer world-class CVs, professional self-branding guidance, and interview mentoring to their clientele. They offer the finest detailed career assistance deals in the sector by bringing specialists, executive authors, and super-smart teammates. They are a client-focused company that prioritizes its clientele.
Resume Giants- Mission
Resume Giants mission is to offer incredible resume & marketing tools, as well as advisory services to their clients, irrespective of sector or profile. They aim to serve job hunters in locating their ideal jobs.
Resume Giants- Business Model
Their resume designer was created to make writing the finest resume as simple as possible.
To make your hiring process more pleasant and simple, they’re continuously collecting in-depth details about the employment sector, information about fun and modern evolving professions, the most prevalent skillset, and current workplace trends.
By providing specialized material, expert suggestions, and genuine, up-to-date cv samples that matter and boost your likelihood of landing your dream job.
Resume Giants- How Do They Earn Money?
Resume Giants doesn’t charge any fees for the first-year folks signing up. After that, they do charge a small amount for their services.
It collects data on all registered jobseekers, such as one‘s resumes, contact details, profiles, & other relevant data. It then sells it to businesses that are in search of good candidates. This is also one of their sources of income.
Resume Giants- Acquiring the First 100 Users
To generate more traffic on their site, they initially used a generic tactic and focused solely on a single language and market. And they’re now tailoring it to a specific demographic. They are presently focusing solely on SEO and social media marketing.
Resume Giants- Challenges
There are times when there is less traffic on a website, lower bounce rates, or lower conversion rates. To change it and check what works and what does not there is something called AB testing which is done by Resume Giants. They assess and reject or optimize anything which doesn’t work or just doesn’t enhance the tool. They also record the progression using market information and previous encounter.
Hindustan Unilever Limited (HUL) is a British-Dutch assembling organization headquartered in Mumbai, India. The items of Hindustan Unilever Ltd incorporate nourishments, drinks, cleaning specialists, individual consideration items, water purifiers, and purchaser merchandise. HUL was set up in 1933 as Lever Brothers and following the merger of its constituent gatherings in 1956, HUL was renamed Hindustan Lever Limited. The organization was then renamed in June 2007 as “Hindustan Unilever Limited”.
At the start of 2019, the Hindustan Unilever Limited portfolio had 35 items marked in 20 classifications and utilized 18,000 representatives with offers of Rs. 34,619 crores in 2017-18. In December 2018, HUL reported its procurement of Glaxo Smithkline’s India business for $3.8 billion out of an all value merger manage ratio of 1:4.39.
However, the joining of 3800 representatives of GSK stayed questionable as HUL expressed there was no provision for maintenance of workers in the deal. In January 2019, HUL said that it hopes to finish the merger with Glaxo Smith Kline Consumer Healthcare (GSKCH India) this year.
Hindustan Unilever Limited (HUL) is India’s biggest quick-moving customer merchandise organization. HUL works in seven business sections.
The cleanser segment incorporates cleansers, cleanser bars, cleanser powders, and scourers. Individual items incorporate items in the classifications of oral consideration, healthy skin (barring cleansers), hair care bath powder, and shading beautifiers. Refreshments incorporate tea and espresso.
Nourishments incorporate staples (atta salt and bread) and culinary items (tomato-based items natural product-based items and soups). Frozen yogurts incorporate frozen yogurts and solidified treats. Others incorporate synthetic substances and water business.
HUL’s item portfolio incorporates family unit brands—for example, Lux, Lifebuoy, Surf Excel, Rin, Wheel, Fair and Lovely, Pond’s, Vaseline, Lakme, Dove, Clinic Plus, Sunsilk, Pepsodent, Closeup, Axe, Brooke Bond, and Bru, Knorr, Kissan, and Kwality Wall’s. HUL is a backup of Unilever, one of the world’s driving providers of food products, home care, personal care, and refreshment items with deals in more than 190 nations and a yearly turnover of $6.08 billion in 2020.
Hindustan Unilever Limited traces its origins to Unilever, a British-Dutch multinational company, which is the parent of HUL. William Hesketh Lever was a popular social reformer and is regarded as one of the main propagators of several significant employee benefits options like benefits of health, savings, and more. Thus, his ideologies largely seeped into Unilver and resulted in developing its strong sense of corporate responsibility and leadership. This culture was invariably passed on to the Hindustan Unilever Limited (HUL).
The British-Dutch company Unilever, which emerged as a result of the merger of the operations of Dutch Margarine Unie and British soapmaker Lever Brothers, when it first came to India, discovered the rich and largely unexplored potential of the Indian market. Soon after, the establishment of Hindustan Vanaspati Mfg. Co. Ltd. followed in 1931, which was succeeded by the foundation of Lever Brothers India Limited (1933) and United Traders Limited (1935). The Indian subcontinent had only been importing FMCG products, branded under Lever Brothers since then, the first of which were spotted as early as 1888. Following this, brands like Lifebuoy stepped in 1895, along with other famous companies like Pears, Lux, and Vim. Vanaspati was launched in 1918 and the famous Dalda brand came to the market in 1937.
The 3 Unilever companies – Hindustan Vanaspati Manufacturing Company, Lever Brothers India Limited, and United Traders Limited eventually merged together to form HUL in November 1956. HUL offered 10% of its equity to the Indians and soon swooped into the news, being the first foreign subsidiary to do so.
The organization obtained Lipton in 1972, and Lipton Tea (India) Ltd was consolidated in 1977. Brooke Bond joined the Unilever overlap in 1984 through a global obtaining. Lake’s (India) Ltd joined the Unilever overlap through a worldwide securing of Chesebrough Pond’s USA in 1986.
The progression of the Indian economy, which began in 1991, denoted an enunciation in the organization’s development bend. The expulsion of the administrative structure enabled the organization to investigate every item and open-door section with no imperatives on the creation limit. At the same time, deregulation allowed acquisitions and mergers.
The Tata Oil Mills Company (TOMCO) converged with the organization with effect from April 1, 1993. In 1996, Unilever and Lakme Ltd framed a 50:50 joint endeavor, Lakme Unilever Ltd, to advertise Lakme’s market-driven beautifiers and other suitable results. In 1998, Lakme Ltd offered its brands to Unilever and stripped its half stake in the joint venture.
In 1994, the organization and US-based Kimberly Clark Corporation framed a 50:50 joint endeavor—Kimberly-Clark Lever Ltd—which markets Huggies Diapers and Kotex Sanitary Pads. The organization likewise set up a backup in Nepal called Unilever Nepal Limited (UNL). UNL’s production line speaks to the biggest assembling interest in the Himalayan kingdom. In the1992, Brooke Bond gained Kothari General Foods with critical interests in instant coffee.
In 1993, HUL acquired Kissan from the UB Group and the Dollops ice-cream business from Cadbury India. Tea Estates and Doom Dooma, two major organizations of Unilever, were converged with Brooke Bond. At that point, in 1994, Brooke Bond India and Lipton India converged to shape Brooke Bond Lipton India Ltd (BBLIL) to empower more noteworthy concentration and guarantee collaboration in the customary beverages business. BBL converged with Unilever with effect from January 1, 1996.
The internal rebuilding finished with the merger of Pond’s (India) Limited (PIL) with HUL in 1998. The two organizations had huge covers in personal products, specialty chemicals, and export organizations; other than a typical appropriation framework since 1993 for personal products. The two additionally had a typical administration pool and an innovation base.
In January 2000, the administration chose to grant 74% value in Modern Foods to Unilever. This started the divestment of government value in open division endeavors (PSU) to private area accomplices. The organization’s entrance into bread production is a key augmentation of the organization’s wheat business. In 2002, the organization procured the administration’s residual stake in Modern Foods.
Journey Of Hindustan Unilever
In 2002, the organization made its entry into Ayurvedic well-being with its Ayush item range and Ayush therapy centers. In 2003, the organization procured the Cooked Shrimp and Pasteurized Crabmeat business of the Amalgam Group of Companies, an innovator in marine products trades. Additionally, the organization propelled Hindustan Unilever Network Direct to home business. In 2004, the organization launched the ‘Pureit’ water purifier.
In 2005, Lever India Exports, Lipton India Exports Ltd, Merry climate Food Products, Toc Disinfectants Ltd, and International Fisheries Ltd were amalgamated within Unilever. In February 2006, Vasishti Detergents Ltd (VDL) converged with Unilever. In September 2006, Modern Foods Industries (India) Ltd & Modern Foods and Nutrition Industries Ltd were included. In October 2006, Unilever stripped its 51% controlling stake in Unilever India Shared Services Ltd, currently known as Capgemini Business Services Pvt. Ltd., to Cap Gemini SA.
In March 2007, Sangam Direct, a non-store home conveyance retail business managed by Unilever India Exports Ltd (UIEL) and a completely possessed auxiliary, was moved to Wadhavan Foods Retail Pvt Ltd (WFRPL) in a droop deal business. Likewise, Unilever completed the demerger of its operational offices in Shamnagar, Jamnagar, and Janmam and shaped three autonomous organizations —Shamnagar Estates Ltd., Jamnagar Properties Ltd, and Hindustan Kwality Walls Foods Ltd. In June 2007, the organization changed its name from Hindustan Lever Ltd to Hindustan Unilever Limited.
In 2008, the organization reported its coordinated efforts with the Indian Dental Association (IDA) related to World Dental Federation (FDI) through the Pepsodent brand to help improve the oral well-being and cleanliness benchmarks in India. In April 2008, the organization demerged and moved certain immovable properties to Brooke Bond Real Estates Pvt Ltd. In January 2010, the organization introduced its new corporate office.
In April 2010, Unilever affirmed the plan of amalgamation of Bon Ltd, an entirely possessed backup of Hindustan Unilever Limited, with it. The selected date for the previously mentioned plan was 1 April 2009 and the plan was made viable from April 28, 2010. Ensuing to the amalgamation, Bon Ltd stopped being an auxiliary of the company.
During 2010-11, Kissan forayed into a new market fragment in three major classifications. It propelled Kissan Fruit and Soya, a delightful mix of organic product juice and soya milk, which appreciated a separated suggestion in this market. The brand likewise went into the Indian (non-sweet) spreads showcase with the dispatch of Kissan Creamy Spread over key towns. In the bakery division, the organization propelled two new items—Chapi and Cream Rolls. The organization stripped 43.31% stake in Hindustan Field Services Pvt Ltd for Smollan Group (the JV accomplice).
Along these lines, Hindustan Field Services Pvt. Ltd. stopped being a backup organization. Lakme Lever Pvt Ltd, a completely claimed auxiliary of HUL, extended the system of Lakme Beauty Salons in that year with the opening of 11 franchises and oversaw salons alongside 18 franchisees’ salons.
In December 2011, the organization demerged the FMCG sends-out business, including explicit fares related to assembling units of the organization, into its entirely claimed backup Unilever India Exports Ltd (UIEL). The plan wound up successful on January 1, 2012.
Hindustan Unilever Limited- One Team One Dream
In 2012, the organization went into a concurrence with Unilever to showcase Brylcreem in India. During the year under audit, Unilever and elements of Piramal Realty (Ajay Piramal Group) consented to an arrangement for the task of HUL’s leasehold privileges of the land and building named Gulita arranged at Worli Sea Face Mumbai for an exchange estimation of Rs. 452.5 Crore.
On 22 January 2013, the Board of Directors of HUL affirmed a proposition to consent to another arrangement with its parent organization Unilever for the arrangement of innovation exchange imprint permit, trademark registration, and other services on 1 February 2013. This new understanding underlined that the loyalty cost of 1.4% of turnover payable by HUL to Unilever will increment in a staged way to an eminence cost of 3.15% of turnover, no later than the money-related year finishing 31 March 2018.
The expansion in eminence cost in the period from 1 February 2013 to 31 March 2014 is assessed to be 0.5% of turnover and from there on in the scope of 0.3% to 0.7% of turnover in each money related year, paving the way to a complete evaluated sovereignty cost increment of 1.75% of turnover contrasted with existing courses of action no later than the monetary year finishing 31 March 2018.
In 2014, Unilever reported an organization with Internet.org, a Facebook-directed coalition of accomplices to see how web access can be expanded to contact millions of individuals crosswise over India. The organization additionally dispatched Prabhat activity for network improvement in towns around its industrial facilities during the year under survey. Furthermore, the organization also went into association with MTV to embrace its brands during the year under review. In 2015, the organization propelled The Unilever Foundry.
During the year under audit, the organization was perceived as the most inventive advertiser at the Mobile Marketing Association (MMA). The organization additionally resuscitated Ayush with e-dispatch during the year. Besides, it also propelled the ‘Swachh Aadat Swachh Bharat’ program in India during the year under review. On 8 September 2015, HUL reported that it has further consented to bring forth an arrangement for the deal and the transfer of its bread and pastry shop business under the brand Modern to Nimman Foods Private Limited, an investee organization of the Everstone Group, for an undisclosed amount.
HUL is the market chief in Indian buyer items with products in more than 20 purchaser classes (for example, cleansers, tea, cleansers, and shampoos among others). Sixteen of HUL’s brands were included in the ACNielsen Brand Equity rundown of 100 Most Trusted Brands Annual Survey (2014) which was completed by Brand Equity, an enhancement of The Economic Times. There are many brands and products owned by Hindustan Uniliver:
Brands And Products Of Hindustan Unilever Limited (HUL)
Food Products
Annapurna salt and Atta (once known as Kissan Annapurna)
Bru gold
Brooke Bond 3 Roses, Taj Mahal, Taaza and Red Label tea
Kissan squashes, kinds of ketchup, squeezes and sticks
Lipton ice tea
Knorr soups and supper creators and soupy noodles
Kwality Wall’s solidified treat
Modern Bread, prepared to eat chapattis and other pastry shop things (presently offered to Everstone Capital)
Magnum (ice cream)
Homecare Brands
Wheel cleaner
Cif Cream Cleaner
comfort cleansing agents
Domex disinfectant/toilet and bathroom cleaner
Rin detergent products
sunlight cleanser and shading care
Surf Excel cleanser and delicate wash
Vim dishwash
magic – Water Saver
Personal Care Brands
Aviance Beauty Solutions and products
Axe deodorant and aftershave lotion and soap and accessories
Lever Ayush Therapy ayurvedic health care and personal care products and items
International breeze
Brylcreem hair cream, hair gel and hair products
Clear anti-dandruff hair products
Clinic Plus shampoo and oil
Close Up toothpaste
Dove skin cleansing & hair care range: bar, lotions, creams, and antiperspirant deodorants
Hindustan Unilever is an FMCG company that leverages its Direct to Consumer (D2C) business model and has made over 50 billion in revenue, as discovered in 2017. The company has crossed INR 50,000 cr ($6.55 bn) in turnover during FY21, as per the reports on April 2022. HUL is the first pure FMCG brand to hit such a milestone.
The business model of Hindustan Unilever is propelled with the idea of making living sustainable feasible for the masses. With sustainable living, HUL wants to bring about:
Bettering the future of the children
A future full of confidence
A future full of health
A future that is better for the planet
A future that is better for the farming and farmers of India
The beauty and personal care segment of Hindustan Unilever helps the company see the most profit, while the food and refreshments segment is declared as the fastest-growing segment of the company. Home care is another segment of the company among its 3 primary segments.
The Hindustan Unilever company gets its competitive advantage from the global footprint it has and the track record of the company for enhancing value for its consumers around the globe.
Some of the prominent patterns that are noticeable in the business model of HUL are:
Reverse Innovation
Reverse innovation refers to the process of building products for industrial countries and then adapting them to the emerging markets. The technique of reverse innovation is what is truly wielded by HUL, which has been a prominent inspiration for many other big brands. The ‘Knorr Stock Pot’ that the brand came up with is an excellent example of leveraging reverse innovation. This technique was mastered by HUL by taking references from the famous ‘Dense Soup treasure,’ which was the first major example of reverse innovation, launched in China in 2007.
Focussing on the financially weak
In contrast to the other foreign subsidiaries, HUL ideated to focus on the financially weaker sections of the country, which led them to focus on the majority of the Indian people. Citing the discovery of Wheel detergent powder is one of the examples where Hindustan Unilever created products for the majority of the Indian consumers. Wheel had lower oil-to-water ratio, which enabled Indian to wash textiles even in rivers with hands. Wheel was then made available cleverly by the brand in the local corner shops as well as via door-to-door representatives.
Staying keen on the Triple Bottom Line
While most of the companies solely focus on the profit part of the follow the Triple Bottom Line with only a little focus on the other segments, HUL has a new approach where the brand decided aimed for the other segments, thereby caring for people and the planet.
HUL largely focuses on the people, including its consumers and others. For instance, the company changed the name of one of its popular products “Fair and Lovely” to “Glow and Lovely”, following the All Black Lives Matter movement that raged globally. This instantly made HUL a favourite!
Significant Distribution Strategy
The distribution strategy that Hindustan Unilever follows is exemplary! It focuses on hyperlocal markets, retail stores, wholesalers, hypermarkets convenience stores, ecommerce, and more. This hugely helps in the promotion of the HUL products and moving them fast to the consumers!
Business Growth In India
FMCG giant Hindustan Unilever Limited (HUL) announced a 15.98% development in solidified net benefit at Rs 6,060 crore for the monetary year finished March 31, 2019, when contrasted with Rs 5,225 crore in 2018. The net profit that HUL witnessed in FY21 rose by 18% YoY at Rs 7,954 crore.
Business Growth Of Hindustan Unilever
Remarking on the profit, HUL Chairman and Managing Director Sanjiv Mehta stated, “We have conveyed a solid execution for the quarter regardless of some balance in rustic market development. Our attention to fortifying the center and driving business sector advancement has been reliably conveying great outcomes. We have now developed top line and primary concern for the eighth continuous year and our 2019 outcomes were a demonstration of both our technique and execution.”
Growth Of Hindustan Unilever
“Given the large-scale monetary pointers, close term advertise development has directed. Notwithstanding, the medium-term viewpoint remains positive. As an association, we are well-situated to react with speed and nimbleness to address the issues of our shoppers. We stay concentrated on our vital plan of conveying predictable, focused, beneficial, and dependable development,” he included.
“Together with the between time profit of Rs 9 for each offer, the all-out profit for the money-related year closure March 31, 2019, adds up to Rs. 22 for every offer,” the organization said. “Combined income for 2018-19 remained at Rs 39,860 crore, up from Rs 36,622 crore a year sooner,” HUL said in a document to the Bombay Stock Exchange.
Hindustan Unilever’s Volume Growth
HUL’s business in India developed by 12%, driven by 10% volume development in the household advertise. In the January-March quarter, the organization posted 13.84% development in its independent net benefit at Rs 1,538 crore when contrasted with Rs 1,351 crore in a similar quarter a year ago. The offers of the organization remained at Rs 9,809 crore in Q4FY19 from Rs 9,003 crore in Q4FY18, enrolling a development of 8.95%. The working benefit (EBITDA) for the March quarter was up 13% year-on-year at Rs 2,321 crore and the EBITDA edge was up 90 bps.
Challenges Ahead Of Hindustan Unilever
The organization said that the edge improved because of judicious administration of instability in costs (unrefined and money driven) alongside improved blend and working influence.
HUL reported that its Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at Rs 11,324 crore, while the EBITDA margin was reported to be 25% during FY21.
Hindustan Unilever NSE 0.01 % (HUL) may clock 9-10% development in June quarter benefit despite a slight balance in volumes because of value climbs crosswise over classes. IIFL Institutional Equities expects the FMCG major to report a 6% volume development, a slight control from the 7% volume development recorded in the past quarter.
Growth Prediction Of Hindustan Unilever
“Our channel checks give us a feeling that the organization has started value climbs crosswise over classes, (for example, cleansers, espresso), among others. We along these lines gauge a business development of 9%, like the past quarter level. We expect the slight withdrawal in gross edge to be counterbalanced by influence in promotion spending and different costs. In general, EBITDA and PAT are relied upon to develop at 13% and 12%, individually,” IIFL said. IDFC Securities expects HUL to report 10.3% to ascend in benefit at Rs 1,728 crore. It sees deals developing at 8% to Rs 10,250 crore.
“We expect 6% volume development and factor in deals development of 11% in home consideration and 7% in close to home consideration portions. Lower advertisement spends (down 80 bps YoY) and commands over different overheads will help EBITDA edges,” it stated while proposing edge at 24.3% against 23.7% the previous year. Edelweiss sees income, Ebitda, and benefit development at 7.3%, 8.6%, and 7.7% YoY.
Hindustan Unilever’s Performance In Past Years
“We anticipate that HUL’s volume should grow 5% YoY on a high base of 12% YoY development. Q1FY18 was affected by GST dispatch thus the best approach to take a gander at volume development is three years’ normal, which will be 5.6%. Delicate quality in the second 50% of Q4FY19 proceeded for the full quarter in Q1FY20. Provincial development is presently at a similar level as urban development. A mixed value climb of 2.5% has been taken. On EBITDA edge front, we expect 20-30 bps YoY development,” the business said.
FAQs
What is Hindustan Unilever origin?
Hindustan Unilever or Hindustan Unilever Limited (HUL) is an Indian subsidiary of Unilever, which sprung from its Dutch-British roots. HUL is headquartered in Mumbai.
Who is the owner of Hindustan Unilever Limited?
HUL is owned by Unilever, its British multinational parent, headquartered in London.
What is HUL?
HUL is the acronym for Hindustan Unilever Limited.
Who are Hindustan Unilever founders?
Hindustan Unilever founders can be cited as 3 parent companies – Hindustan Vanaspati Mfg. Co. Ltd., Lever Brothers India Limited, and United Traders Limited, which were merged to form HUL.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved byCoinbase.
With the passage of days, currencies have evolved. The physical currency that we use today, has also undergone a list of transformations in terms of the denominations, metals used, shapes and sizes of the currencies, and more. This currency that is presently in use has a physical form, but they also stay with us, within our wallets, payment apps, and banking accounts, digitally.
The crypto-currency is a step ahead of these currencies that are in vogue today around the world. A cryptocurrency or crypto can be summed up as a collection of binary data that is designed to work as a medium of exchange where the ownership records of the individuals are managed in computerized databases. These records are stored in the form of ledgers secured with strong cryptography, which seals the transaction records, controls the creation of additional coins, and verifies the transfer of the ownership of coins.
The cryptocurrencies, as they work, also need cryptocurrency exchanges, to empower the users to trade these currencies for other assets, including digital and fiat currencies. Coinbase works in a similar way.
Coinbase is an American company that operates an entirely online cryptocurrency trading network with no physical headquarters. The company was founded in 2012 by Brian Armstrong and Fred Ehrsam, and as of November 2021, it is the largest cryptocurrency exchange in the United States by trading volume.
The largest cryptocurrency exchange in the United States, Coinbase is a San Francisco-based business, which was established in 2012. It has weathered occasional Bitcoin bubbles to become the go-to place for Americans looking to purchase so-called digital gold and other blockchain tokens. Coinbase is one of the most prominent digital finance upstarts challenging Wall Street, led by Brain Armstrong, a former Airbnb engineer.
Coinbase is an online platform that enables merchants, consumers, and traders to transact in digital currencies. It allows users to build their own cryptocurrency wallets and use their bank accounts to buy and sell cryptocurrency. In addition, the firm provides a range of merchant payment processing systems and tools to support high-trafficked websites on the internet. The company already has a sizable client base in a market that was once dominated by crypto asset enthusiasts.
Coinbase has increased in popularity and become the on-ramp for the mainstream cryptocurrency investors by positioning itself as a safe haven for crypto asset exchanges. Unlike many of its competitors, it has never been hacked. Coinbase has also adhered to existing legislation and law enforcement with zeal, putting it on the right side of the law — another significant advantage in a sector in dire need of regulatory oversight.
Coinbase – Target Market Audience
As Coinbase is a crypto-exchange platform, the target audience of Coinbase is primarily the millenials, ranging between 25-45 years from low-tech to high-tech individuals from around the globe.
Coinbase – Founders and Team
Coinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam.
Founders of Coinbase – Brian Armstrong and Fred Ehrsam
Brian Armstrong
Brian Armstrong is known as the Co-founder and CEO of Coinbase. Armstrong is a Rice University alumnus, who completed his Bachelor’s and Master’s degree in Computer Science, Economics and Computer Science respectively. Before founding Coinbase, Armstrong was an Enterprise Risk Management consultant at Deloitte & Touche, a CEO, and Founder at UniversityTutor.com, and a Technical Product Manager at Airbnb.
Fred Ehrsam
Fred Ehrsam is a Co-founder of Coinbase. Ehrsam is an alumnus of Duke University, from where he obtained a BS in Computer Science and Economics. He was previously a Trader at Goldman Sachs, before being a Founder of Coinbase, who is now also serving as a member of the Board of Directors. Ehrsam is also a Co-Founder of Paradigm.
The company recently hired Snap India Head Durgesh Kaushik. The former CEO of Snapchat was appointed as the Senior Director for Market Expansion of Coinbase, effective from May 9, 2022. The company is strongly looking forward to its expansion in countries like India, which is a significant part of the reason of this appointment. Besides, Coinbase is also striving to debut in many other markets as well in the Asia Pacific, Africa, Europe, the Middle East, and the Americas.
Coinbase has a considerably large team, which consists of more than 3K employees.
Coinbase – Startup Story
Coinbase was initially created by Brian Armstrong, a former Airbnb engineer, in July 2011 and was started to be funded by Y Combinator. After co-founder Fred Ehrsam, a former Goldman Sachs trader, joined the group, Coinbase finally launched its services to buy, sell, and store bitcoins in 2012.
“Armstrong and Ehrsam first met on Reddit and shared a bullish view on bitcoin and the cryptocurrency space as a whole,” said Ehrsam on Twitter. After this, they decided to launch Coinbase with the “mission” to “make crypto easy to use.”
Ben Reeves, a British programmer and co-founder of Blockchain.info, was supposed to be a member of the Coinbase founding team, but he split with Armstrong shortly before the Y Combinator funding round over their conflicting views on how the Coinbase wallet should function.
The company began offering services to buy and sell bitcoins via bank transfers in October 2012.
Coinbase is a cryptocurrency exchange network that is entirely online, as the name implies. The company’s name was influenced by Coinbase transactions, which are special transactions that put cryptocurrency into circulation in proof of work cryptocurrencies.
Coinbase’s Company Logo
“Welcome to the Future of Money,” read the slogan at the top of Coinbase’s website in 2013. This was changed to “Buy and Sell Digital Currency” in 2017.
Coinbase – Products and Services
Coinbase offers both retail and institutional investors cryptocurrency products, as well as other cryptocurrency-related services.
The following are some of the company’s retail trade products:
Coinbase is a user-friendly app for purchasing, storing, and exchanging cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin.
Coinbase Pro is a sophisticated asset trading platform that lets users exchange a wide variety of digital assets.
Customers can use Coinbase Wallet to access decentralized crypto apps (dapps) through a dapp browser.
Coinbase’s products for institutional traders include:
Coinbase Prime, a platform dedicated to institutional customers.
Coinbase Custody is a collection of tailored services for businesses that hold bitcoin and other cryptocurrencies on the Coinbase platform. As part of the program, Coinbase members have access to an SEC-qualified custodian, third-party auditing, and financial reporting confirmation.
Other cryptocurrency-related products offered by the business include:
USD Coin is a digital stablecoin that allows customers to swap US dollars for a cryptocurrency with the same value but faster trading.
Customers can spend cryptocurrency wherever Visa cards are accepted with the Coinbase Card, a debit Visa card.
Coinbase Commerce, a retailer payment program.
Using the company’s API, developers and merchants can build applications and accept payments in both digital currencies. As of 2018, the cryptocurrency wallet was available in 190 countries, and the company’s buy/sell trading functionality was available in 32 countries. Coinbase has a mobile app for both iOS and Android.
Coinbase – Vision and Mission
Coinbase’s mission statement says, “our mission is to build an open financial system. We’re doing this to increase the amount of economic freedom in the world, a measurable concept that can be greatly accelerated with the adoption of cryptocurrency.”
“We started in 2012 with the radical idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin“, says the Coinbase website, which can be considered the vision of Coinbase.
Coinbase – Business Model
The business of coinbase is built around the B2C and B2B models. The company targets two primary customer groups:
Those who use the platform for buying and selling digital assets with the help of the wallet that Coinbase (B2C) offers.
The next are the merchants, who use the Coinbase platform (B2B) to store their digital assets (transferred by consumers) as a kind of payment from their customers.
Coinbase’s network is used by both retail and institutional customers to buy, sell, and shop cryptocurrencies like Bitcoin and Ethereum. Customers can use the Coinbase, Coinbase Pro, and Coinbase Wallet apps, as well as the company’s websites, to contact them. Coinbase had approximately 56 million retail users as of Q1 2021.
As an online marketplace, Coinbase allows the consumers to trade in numerous cryptocurrencies (over 20 different cryptocurrencies), which they can buy and sell like:
Bitcoin
Ether
Litecoin
XRP and many others.
Furthermore, Coinbase also boasts of the Coinbase Pro and Prime platforms that help individuals and institutional clients to trade in a more sophisticated manner. Besides, the traders can also plug into the Coinbase API in case they want to retrieve real-time market data and develop programmatic trading bots.
Along with the Coinbase trading platform, also known as exchange wallet, the Coinbase customers can also choose to use the Coinbase Wallet, often referred to as the crypto wallet. The latter is designed as a standalone app via Android or iOS and is more secure than the exchange wallet. Moreover, the wallet facility also enables the users to exchange goods and services effortlessly.
Along with the trading platform that Coinbase offers, the company also brings in a whole suite of other products both for the businesses and the consumers.
Furthermore, Coinbase also offers a wide range of courses on cryptocurrencies, such as Dai or EOS. The platform grants these currencies as rewards for the users who manage to successfully complete the courses.
Coinbase also helps the users order a physical VISA debit card called the Coinbase Card, via which they can spend their earned cryptocurrencies and can also track their spending.
Coinbase is hailed as the largest crypto-exchange by trading volume in the United States, and has seen huge growth already since it was founded in June 2012 by Brian Armstrong and Fred Ehrsam. When the started, in around 2012, the worth of a bitcoin was $6, and the knowledge of the same was limited to only a “few nerds on the internet”, tweeted Ehrsam. From that to today’s awareness of bitcoin, Coinbase has a huge hand in it.
Over the first two years in business, Coinbase grew to be a company with 1000+ employees, which is a huge milestone indeed.
The company has rolled out an NFT marketplace in beta, went the May 25, 2022 reports. What was announced 7 months earlier, in October 2021, the marketplace for the non-fungible tokens (NFTs) is now available in beta version.
IT’S ALL HAPPENING!
We’re super excited to announce we're opening @Coinbase_NFT Beta up to everyone.
Coinbase earns its revenue from a range of different sources, as mentioned in the above section of the Business Model.
Trading transaction fees and services such as storage and analytics accounted for about 90% of the Coinbase revenue (as of 2020). Customers are paid transaction fees (roughly 0.5%) based on the size of their trades, with smaller trades incurring lower fees.
Coinbase takes a share of any bitcoin trade, according to its website. It made $1.28 billion in revenue in 2020, with transaction fees accounting for 86% of that total. In 2020, Coinbase was responsible for roughly 0.57% of the $193 billion in cryptocurrency trading value.
Sales will rise by 139% in 2020, according to Coinbase’s prospectus, from $534 million in 2019. From about $80 billion in 2019, Coinbase’s trading volume increased nearly 142% in 2020.
In 2020, Coinbase profited $322 million, compared to a $30 million loss in 2019. Yet faster growth was seen in the first quarter of 2021. Coinbase posted $1.8 billion in sales for the year, up 906% from $179 million in the first quarter of 2020. The trading volume in the first quarter was $335 billion, which was 60% higher than the entire year of 2020. In the first year, Coinbase anticipates a profit of $730 million to $800 million.
Coinbase – Funding and Investors
Coinbase has raised a total of $567.3M in funding over 17 rounds. Here’s a list of the last 12 rounds that the company has seen.
Date
Round
Amount
Lead Investor
Jan 18, 2021
Secondary Market
$20M
–
Oct 1, 2020
Venture Round
–
–
Jan 1, 2019
Secomdary Market
–
–
Dec 21, 2018
Secomdary Market
$22M
–
Oct 30, 2018
Series E
$300M
Tiger Global Management
Aug 1, 2018
Venture Round
–
–
Feb 1, 2018
Venture Round
–
–
Aug 10, 2017
Series D
$108.1M
IVP
Jul 7, 2016
Series C
$10.5M
Mitsubishi UFJ
Jan 13, 2015
Series C
$75M
DFJ Growth
Jan 13, 2015
Series C
–
–
Dec 12, 2013
Series B
$25M
Andreessen Horowitz
Coinbase – Investments
Coinbase has made many investments to date. Here are some of the prominent recent investments of Coinbase:
Coinbase has acquired 22 organizations, as of May 5, 2022. BtcTurk was the last company acquired by Coinbase, which came in on April 21, 2022. Here’s a list of the prominent Coinbase acquisitions to date:
Aquiree Name
Date
Amount
About Acquiree
BtcTurk
Apr 12, 2022
–
A bitcoin and cryptocurrency exchange based from Turkey that utilises BTC trader’s white label platform
FairX
Jan 12, 2022
–
A futures products manufacturing company that caters to the demands of the active retail investors
Unbound Security
Nov 30, 2021
–
A security company that extends protection for cryptographic keys and credentials, based in New York
BRD
Nov 25, 2021
–
Zurich-based company that designs, develops and markets financial software
Agara
Nov 2, 2021
–
Based in Bengaluru, India, Agara helps to automate end-to-end customer support operations.
Zabo
Aug 4, 2021
–
Zabo helps in connecting a crypto wallet with an application via codes.
Skew
April 30, 2021
–
skew is a platform that builds cutting-edge financial infrastructure for the digital assets space.
Bison Trails
Jan 19, 2021
–
Bison Trails allows the user to run secure infrastructure on multiple blockchains.
Tagomi
May 27, 2020
–
Tagomi is a cryptocurrency trading platform to provide clients with trade better execution so they can keep more of their returns.
Routefire
Jan 7, 2020
–
Routefire is a provider of trade execution infrastructure in the digital asset space.
Neutrino
Feb 19, 2019
–
Neutrino is focused on developing a comprehensive platform for analyzing, tracking & investigating blockchain and other virtual currencies.
Blockspring
Jan 17, 2019
–
Blockspring is a place to create, share, and run functions.
Distributed Systems
Aug 15, 2018
–
Distributed Systems is a digital identity startup and a full-stack machine intelligence.
Keystone Capital Corp.
Jun 6, 2018
–
Keystone Capital Corp. operates as a financial-services firm.
Venovate
Jun 6, 2018
–
Venovate facilitates the discovery, evaluation, and purchase of private company stock and other alternative assets.
Digital Wealth
Jun 6, 2018
–
Digital Wealth is a fee-only financial planning and investment management firm.
Paradex
May 23, 2018
–
Paradex operates as a crypto trading relay platform.
Coinbase was up against existing players as well as new decentralised exchanges. The company has struggled to scale up, with its support staff handling a backlog of queries about, among other items, exchange outages and money transfer delays. Finally, since crypto asset prices directly affect Coinbase, it must exercise caution if the market continues to decline.
Coinbase has experienced internal issues as a result of poor execution. Despite a substantial increase in its user base, Coinbase has struggled to scale, as shown by recent events concerning the listing of bitcoin cash.
Faced with the aforementioned obstacles, Coinbase intends to expand its core businesses while still exploring new opportunities.
According to Coinbase’s “Digital Asset Framework,” the company plans to add more assets to its network in order to diversify its trading. This would benefit the company’s bottom line while also encouraging a huge consumer base to try out new blockchain applications. As a result, adding assets is both a hedge and a bet on the sector’s long-term viability.
The goal of Coinbase is to assist all assets that meet their technical specifications and adhere to all applicable laws. According to Coinbase, customers around the world will eventually have access to at least 90% of the overall market cap of all digital assets in circulation through its platforms.
FAQs
What does Coinbase do?
Coinbase is an American company that runs a cryptocurrency trading network that is based entirely online.
Who founded Coinbase?
Brian Armstrong and Fred Ehrsam are the founders of Coinbase.
How does Coinbase make money?
Trading transaction fees and services such as storage and analytics accounted for about 90% of the company’s revenue. Customers are paid transaction fees (roughly 0.5%) based on the size of their trades, with smaller trades incurring lower fees.
What companies do Coinbase compete with?
Coinbase’s top competitors include River Financial, OST.com, Blockchain, Binance, Bittrex, Bitfinex, Kraken, Paxos, Xapo, Bithumb and Bibox.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Zoom.
The global video conferencing market size is expected to reach USD 10.92 billion by 2027, exhibiting a CAGR of 9.7% during the forecast period. Zoom Video Communications, Inc. incorporated on April 04, 2011, is a provider of video-first communication platform and Web conferencing services. In recent times, Zoom became a global phenomenon as businesses had to revert to working from home.
The Company offers cloud-native platform, which unifies cloud video conferencing, online meetings, group messaging and a software-based conference room system, which enables users to easily experience Zoom Meetings in their physical meeting spaces.
With the coronavirus pandemic hitting the whole world at large, face-to-face business activities had to take a plunge. That’s when this company became a savior for every online meeting that took place. We are talking about the Zoom cloud meeting which was founded by Eric S. Yuan in 2011.
Zoom is an American company offering remote conferencing services. It is headquartered in San Jose, California. Zoom also has offices in Europe, Asia, and Australia. It primarily provides a remote conferencing service that combines other tertiary services like video conferencing, online meetings, chat, and mobile collaboration to facilitate conducting business virtually. It is one of the online meeting platforms which paved its way for success.
Zoom success during pandemic was unexpected and it was a turning point in their organization. Read on to know more about the Zoom success story below.
Zoom Video Communications, Inc. (or simply Zoom) is an American communications technology company headquartered in San Jose, California. It provides videotelephony and online chat services through a cloud-based peer-to-peer software platform and is used for teleconferencing, telecommuting, distance education, and social relations.
The company develops a people-centric cloud service that transforms real-time collaboration experience. The Company offers unified meeting experience, a cloud service that provides a 3-in-1 meeting platform with HD video conferencing, mobility, and web meetings. The company’s cloud-native platform enables face-to-face video and connects users across various devices and locations in a single meeting. Zoom, which was founded in 2011 and is headquartered in San Jose, California, serves companies of all sizes from all industries around the world.
Zoom Cloud meetings offer a free video-conferencing facility for up to 100 participants. It offers a communications platform that connects people through video, voice, chat, and content sharing. Zoom is compatible with Windows, macOS, iOS, Android, Chrome OS, and Linux. Originally, it came with a 40-minute time limit but now due to coronavirus lockdown, this limit has been removed. If the companies want to add more participants and avail of more advanced features, paid subscriptions are available with the Zoom meeting app. Zoom’s closed source software is claimed to be compliant with FedRAMP, HIPAA, PIPEDA and PHIPA, and the GDPR.
Initially, when Zoom was launched, it could host video conferences with only 15 participants which got increased to 25, two years after its inception. From there, it directly jumped to a participation limit of 100 in 2015 followed by 1000 for business customers.
Users can hold one-on-one meetings or conduct video conferences with up to 500 participants. Screen sharing allows meeting participants to better coordinate within meetings and distribute information.
The company has an easy, reliable cloud platform for video and audio conferencing, collaboration, chat, and webinars across mobile devices, desktops, telephones, and room systems.
The worldwide adoption of Zoom is powered by its two core products: Zoom Meetings and Chat as well as Zoom Rooms and Workspaces. Zoom Meetings can be attended and held via a web browser, or desktop and mobile applications. The Chat works as an extension to the Meeting product where users can interact through a chat with each other, share files, or create groups.
Rooms and Workspaces, on the other hand, allows businesses to utilize hardware such as a computer, tablet, camera, microphone, and more to hold virtual meetings. The product is specifically aimed at larger-scale organizations, which need to hold meetings across different offices. To make integration with the hardware easier, Zoom even offers its own set of hardware that they developed in collaboration with other manufacturers.
Zoom – Impact of COVID19
COVID-19 really boosted the success story of Zoom. This is when the Zoom Success strategy worked out really well. We’ve outlined its impact below!
With the pandemic intensifying, lockdowns were announced in almost all the affected countries which took Zoom to an altogether new level.
Be it companies, schools, or colleges, all started using Zoom Video Communications to conduct business meetings and deliver lectures.
Zoom offered its services to K–12 schools free of charge in many countries.
Zoom also released a paid education plan which allows unlimited meetings for up to 300 people. Not just that, these meetings are graced with the options of recording, transcription, and various other administrative controls.
These activities contributed to a sharp rise in Zoom usage and contributed to Zoom success during pandemic. For example, in just a day, the Zoom application was downloaded 3,43,000 times.
The company gained over 2.22 million users in the initial months of 2020. This number exceeded the number of users and Zoom had amassed entirely in 2019.
Consequently, by March 2020, the Zoom share price increased to US$160.98 per share. This drafted an increase of about 263% as compared to its initial share prices when it came out with an IPO.
Zoom also became the go-to social platform for the Millennials. During this pandemic when they couldn’t step out, they used Zoom for blind dates and recess and many more fun activities that could turn their boredom into delight.
The founder, Yuan, added $20 Million to his net worth in just one day. This took his total net worth to $5.6 Billion!
Zoom – Founder
The Founder of Zoom is Eric S. Yuan.
Eric S. Yuan, Founder, Zoom
Educational qualification
Bachelor’s and master’s degrees in applied mathematics and computer science from the Shandong University of Science and Technology.
Early life
Yuan was working with WebEx, which was acquired by Cisco Systems and that’s when he became vice president of engineering. After that, he went on to launch Zoom Video Communications.
Zoom – Startup Story
Eric Yuan is a former corporate vice president for Cisco WebEx. He left Cisco in April 2011 with 40 engineers to start a new company, originally named Saasbee, Inc. Prior to starting Zoom, Yuan spent 14 years leading engineering teams – first at WebEx, then at Cisco after its acquisition of WebEx in 2007.
At Cisco, he often saw how frustrated the company’s customers were with their inability to listen to their demands and the slow product iteration process.
The company had trouble finding investors because many people thought the video telephony market was already saturated. In June 2011, the company raised $3 million of seed money from WebEx founder Subrah Iyar, former Cisco SVP and General Counsel Dan Scheinman, and venture capitalists Matt Ocko, TSVC, and Bill Tai.
In May 2012, the company changed its name to Zoom, influenced by Thacher Hurd’s children’s book Zoom City. In September 2012, Zoom launched a beta version that could host conferences with up to 15 video participants. In November 2012, the company signed Stanford University as its first customer.
The service was launched in January 2013 after the company raised a $6 million Series A round from Qualcomm Ventures, Yahoo! founder Jerry Yang, WebEx founder Subrah Iyar, and former Cisco SVP and General Counsel Dan Scheinman. Zoom launched version 1.0 of the program allowing the maximum number of participants per conference to be 25. By the end of its first month, Zoom had 400,000 users and by May 2013 it had 1 million users. In the recent COVID times, Zoom rose to worldwide prominence as many companies use it to conduct meetings and organize their work processes.
Zoom – Customer Acquisition
Zoom’s Business Customers growth
Within just one year of inception, Zoom recorded participation of 1 million user base. In its first year, Zoom established partnerships with multiple B2B collaboration software providers which included Redbooth (then Teambox), and together created a program that was named “Works with Zoom“. This, in turn, worked for Zoom in establishing more superior partnerships with hardware and software vendors like Logitech, Vaddio, and InFocus.
Zoom in 2014
Zoom had already reached 10 million users by 2014. And this number skyrocketed in 2015 when it went on to 40 million individuals with 65,000 organizations subscribed to the Zoom Video Conferencing Services. By 2015, Zoom had already hosted a total of 1 billion meeting minutes since its inception.
Zoom in 2017
Zoom hosted Zoomtopia 2017 in the year that was Zoom’s first-ever annual user conference. During this conference, they announced a dynamic series of new products and partnerships, which also included Zoom’s Partnership with Meta. This partnership was envisioned to integrate Zoom with Augmented Reality, more popularly known as AR. Also, Zoom announced its native support for Skype for Business and its futile integration with Slack, Workplace by Facebook, and its initial steps towards artificial intelligence (AI) speech-to-text converter.
Zoom – Mission
Zoom’s mission statement says, “Our mission is to develop a people-centric cloud service that unifies your meeting experience and improves the quality and effectiveness of communications forever.“
Zoom – Business Model
The business model of Zoom is built on charging businesses a reoccurring subscription fee for the various products the company offers. On top of that, Zoom makes money from the promotion of hardware products.
Zoom – Revenue and Growth
Zoom’s Revenue Growth
Zoom has recorded annual revenue of $953 Million in 2021.
Zoom Video Communications’ revenue for the quarter ending October 31, 2020 was $0.777B, a 366.52% increase year-over-year. Zoom Video Communications revenue for the twelve months ending October 31, 2020 was $1.957B, a 262.29% increase year-over-year.
Zoom has 504,900 business customers.
Zoom – Mergers and Acquisitions
Zoom extended its communication network and service through mergers and acquisition as listed below.
In 2015, Zoom announced the integration of Zoom video conferencing with Salesforce’s customer relationship management platform. This collaboration allowed the sales team to initiate such conferences with their sales leads without leaving the application.
In 2017, Zoom went on to launch Telehealth. This platform is a scalable product in the telehealth category which allows doctors to remotely visit their patients through video communications for consultation.
In 2017, Zoom Video Communications announced a partnership with Polycom. This partnership integrated Zoom’s video meetings into the partnered company, Polycom’s conferencing systems and enabled a wide array of features that included multiple screens and device meetings, HD and wireless screen sharing, and calendar integration with Microsoft Outlook, Google Calendar, and iCal.
In March 2020, NextTech AR Solutions acquired a software company named Jolokia. Through this acquisition, it intends to integrate Zoom into Jolokia’s Inferno platform. The highlight is that this integration will allow Zoom Video meetings to support up to 100,000 participants. Not just that, with added and advanced features like “real-time Q&A Plus immersive AR.” and additional features like the ability to start a Zoom meeting from the Inferno platform and the incorporation of closed captioning in 64 languages to meeting recordings.
Very recently, in May 2020, Zoom acquired Keybase. Keybase offers end-to-end encrypted chat, file-sharing, and code-hosting all based on a cryptographic platform.
Zoom has acquired German startupKarlsruhe Information Technology Solutions (KITES) on June 30, 2021. The company’s acquisition would bring in the knowledge of language translation via machine learning and is deemed to be a step forward to break the language barriers and speed up the work across the organizations the world over.
Zoom – Funding and Investors
Zoom has raised a total of $276 Million in funding over 8 rounds. Their latest funding was raised in January 2017 from a Series D round.
Here is a list of all the funding rounds of Zoom:
Date
Stage
Amount
Investors
November 2021
Post IPO Equity
$130 Million
ARK Investment Management
January 2017
Series D
$100 million
Sequoia Capital, Emergence Capital Partners
February 2015
Series C
$30 million
Emergence Capital Partners, Horizons Ventures, Qualcomm Ventures
September 2013
Series B
$6.5 million
Horizons Ventures, Jerry Yang, Patrick Soon-Shiong
With all this extra attention, Zoom is now facing a huge privacy and security backlash as security experts, privacy advocates, lawmakers, and even the FBI warn that Zoom’s default settings aren’t secure enough. Zoom now risks becoming a victim of its own success.
Zoom has battled security and privacy concerns before. Apple was forced to step in and silently remove Zoom software from Macs last year after a serious security vulnerability let websites hijack Mac cameras. In recent weeks, scrutiny over Zoom’s security practices has intensified, with a lot of the concern focused on its default settings and the mechanisms that make the app so easy to use.
Each Zoom call has a randomly generated ID number between 9 and 11 digits long that’s used by participants to gain access to a meeting. Researchers have found that these meeting IDs are easy to guess, allowing anyone to get into meetings.
While Zoom still states on its website that you can “secure a meeting with end-to-end encryption,” the company was forced to admit it’s actually misleading people. “It is not possible to enable E2E encryption for Zoom video meetings,” said a Zoom spokesperson in a statement.
Zoom – Future Plans
During the vision keynote of Zoomtopia 2020, Zoom Video Communications, Inc. unveiled major developments to its platform that evolve the future of communications.
OnZoom: A one-of-a-kind online event platform for Zoom users to create and host free, paid, and fundraising events. Hosts can grow their businesses, expand their reach into new audiences, and give back through native donation integration. Zoom users can discover these events and sign up for new experiences with additional functionality like gifting tickets and an attendee dashboard to keep tabs on favorite events and brands.
New end-to-end encryption (E2EE) offering: This optional feature will be generally available in technical preview to free and paid Zoom users next week. It can be enabled at the account, group, and user level, and, depending on how the account admin sets up the feature, can be toggled on and off by the host on a by-meeting basis. When enabled, Zoom’s E2EE ensures that communication between meeting participants using Zoom applications is encrypted using cryptographic keys known only to the devices of those participants.
Customizable SDK: Zoom is adding new enhancements to its SDKs, enabling developers and companies to enrich their own custom video-based applications with Zoom’s platform, available now on Android, iOS, and web. Developers can take advantage of a customizable UI and session control, making it easier for them to bring high-quality video, audio, and instant chat to their applications.
Zapps: Zapps enable developers to create apps that power workflows before, during, and after the meeting. Zoom has brought first and third-party developed apps into the meeting experience for real-time adoption. Zapps are designed to give developers a fast and flexible web view canvas to create apps, viral distribution, and IT deployment and manageability.
FAQs
Is Zoom free?
The basic plan for Zoom is free for all with no trial period.
Who is the owner of Zoom?
Eric S. Yuan is the owner of Zoom. He founded Zoom in 2011 in San Jose, California, United States.
Who’s the CEO of Zoom?
Eric Yuan is the CEO of Zoom.
How does Zoom make money?
The business model of Zoom is built on charging businesses a reoccurring subscription fee for the various products the company offers. On top of that, Zoom makes money from the promotion of hardware products.
Credit rating is one of the most crucial factors that determine whether your bank gives you a loan or not. A fair credit rating shows a good history of paying back bank loans on time.
The concept of it has gained a great amount of significance in the past two decades. Since the ideas of investments and loans have become common among the people, it is very important for people, groups, and organizations to maintain a good credit rating.
So, how does a credit rating work? In this article, we’ll know more about credit rating and how it works. We’ll also know why it is important.
Credit rating is the evaluation of a buyer by a credit rating agency. It determines whether they would be able to pay back a loan in time or not. The buyer can be an individual, a company, an NGO, a government, or even a country. Credit rating helps lenders assess the financial risk and lend money.
A loan is a debt that the lender gives. It is more of a contractual promise. The credit rating gives the lender insight into the loan history of the borrower. Moreover, it also determines if they would be able to pay back in time.
What is Credit Score?
There are two types of credit rating:
Investment-grade This assures the lender that the borrower will most likely meet the repayment terms. Hence, the rate of interest is low.
Speculative grade This shows that the investments are risky and thus, the lender charges a higher interest rate.
Every company has its algorithm to provide the rating. When the request for a credit rating is made, the agencies dig up information from various sources like banks and other financial institutions to prepare a report. Based on that, they grade the borrowers according to a scale.
The scale represents the risk the borrowers pose in long-term or mid-term investments. The lenders can then examine the rating and decide whether it is worth lending money to them or not.
Credit risk
Credit rating
Symbol
Lowest
Excellent
AAA
Very Low
Very good
AA
Low
Good
A
Moderate
Average
BBB
High
Low
B
Very high
Poor
C
Default
Default
D
The credit rating agencies generally make use of this scale to show ratings of people or organizations by allotting these grades to them. As shown ‘AAA’ symbol of rating is considered excellent which means the borrower possesses the least risk and is offered a lower rate of interest. The symbols below ‘BBB’ fall under speculative-grade which means the borrower possesses high risk so the lender charges a higher rate of interest. The symbol ‘D’ is the lowest grade of rating which means a person or company is either in default or is soon to be in default on its financial obligation.
Credit Rating Scale
Factors Affecting Credit Rating
Various factors can affect the credit rating of the lender. These are as follows:
Credit rating helps both the lenders and the borrowers with the loan. Here is how:
For lenders:
A credit rating helps the lender make better investment decisions. No one would want to lend to a risky customer. With the credit rating, the lender can analyze their creditworthiness and the risk attached to that investment. Thus, they can make a better decision.
A high credit rating assures the lender that their money is in safe hands and it would be paid back in time with adequate interest.
For borrowers:
With a high credit rating, you look like a low or no-risk customer, and thus it is very easy to get your loan approved.
Here is a list of credit rating agencies in India that can grade you:
Credit Rating Information Services of India Limited (CRISIL)
CRISIL – Credit Rating Agency in India
CRISIL was the first credit rating agency in India established in 1988. The Mumbai-based agency celebrated its 30 years of completion in 2017. Both UTI and ICICI launched CRISIL, the subsidiary of S&P Global, an American company. In 2017, CRISIL got around an 8.9% stake in CARE, a Mumbai-based credit rating agency. Presently, CRISIL is India’s largest credit rating agency.
Credit Analysis and Research Limited (CARE)
Care Ratings – Credit Rating Agency in India
Credit Analysis and Research Limited has been active since 1993. The Mumbai-based agency, CARE, offers services in rating and grading. The rating areas include the financial sector, rating debts, issuer rating, bank loan rating, etc. The rating helps corporates to raise finance for their investors.
Recently, CARE collaborated with four countries, South Africa, Brazil, Portugal, and Malaysia. The new international agency formed is named ARC Rating. Also, CARE has its branches spread over states like Kolkata, Hyderabad, Chennai, Pune, Bengaluru, and many more.
Investment Information and Credit Rating Agency of India Limited (ICRA limited)
ICRA – Credit Rating Agency in India
The Investment Information and Credit Rating Agency of India Limited has been in operation since 1991. Moody corporation with various other financial and commercial banks had founded the agency.
The organization, ICRA handles the offering of well-researched, independent credit ratings for the borrowers. At present, ICRA has four subsidiaries in different countries. The subsidiaries of ICRA are Consulting and Analytics, ICRA Lanka, Data Services and KPO, and ICRA Nepal.
Brickwork Ratings India Pvt Ltd (BWR)
BWR – Credit Rating Agency in India
Brickwork Rating India Pvt Ltd has been in operation since 2007 and Canara bank has elevated it. RBI sanctioned the Bengaluru-based agency to calculate credit ratings in India. Three other enterprises named NSIC, MSME, and NCD have enlisted it. NABARD has authorized BWR for rating NGO and MFI. Moreover, BWR is also responsible for rating real estate investments, tourism, IREDA, MNRE, and many more.
Acuite Ratings & Research Limited
Acuite Ratings & Research Limited – Credit Rating Agency in India
The Mumbai-based credit rating agency named Acuite Rating & Research Limited is in motion science 2005. SEBI (Securities and Exchange Board of India) recognizes this agency. RBI has certified the company as External Credit Assessment Institution (ECAI). Hence, the company offers ratings for bank facilities, debt instruments, bank loans, and many more.
Infomerics Valuation and Rating Private Limited
Infomerics Ratings – Credit Rating Agency in India
Administrative personnel, renowned finance professionals, and former bankers together founded a company. They named it Infomerics Valuation and Rating Private Limited. The company offers a detailed evaluation of banks, corporate companies, NBFC, small and medium units, and many more.
Conclusion
A credit rating agency assesses a firm’s or an individual’s financial background. Moreover, it helps the investors recognize the company’s potential for repaying the debt. Hence, credit rating is an integral process before investing or lending capital. It is a boon for both lenders and borrowers as it keeps the intentions transparent between the participants. It is usually a lengthy process. It takes almost 2 weeks to 1 month to complete the rating process.
FAQ
What is a credit rating?
Credit rating refers to the evaluation of a borrower’s creditworthiness.
Which are the credit rating agencies in India?
CRISIL (Credit Rating Information Services of India Limited) CARE ( Credit Analysis and Research Limited) ICRA Limited (Investment Information and Credit Rating Agency of India Limited) BWR (Brickwork Ratings India Pvt Ltd) Acuite Ratings & Research Limited Infomerics Valuation and Rating Private Limited
What is a good credit rating?
In general, credit scores from 670 to 739 are considered as good.
Which is the most important credit score factor?
Payment History is the most important credit score factor as it accounts for 35% of the FICO score.
In the time we are living in, people are focusing and quite conscious about their health. They want to stay fit and healthy throughout their life. Naturally, the fitness sector has shown tremendous growth over few years. Personal trainers business are a kind of new business in the fitness sector. Personal trainers work with an individual to help facilitate diet and fitness goals.
Personal trainers help a variety of individuals to achieve diverse goals regarding their health. The market for fitness training is large and includes all ages, body types, and goals. Increased awareness of the importance of fitness has made the industry stable. This profession gives you the chance to connect with people on a personable basis and help change their lives for the better.
Starting any sort of small business is difficult. It takes dedication, hard work, and determination. In this article, we will talk about how to build, grow, expand, and market your personal training business. So, let’s get started.
A personal trainer is not an athletic trainer. A personal trainer can work with people of any age in strength conditioning, cardiovascular exercise, the physiology of muscles which includes stretching, motivation, and finally physical fitness.
The skills needed to become a personal trainer are spread across several areas like great people skills, self-management abilities, drive, a strong work ethic, and good health. The job of a personal trainer is to work directly with people, sometimes one on one and sometimes as a group to increase fitness in various ways.
Most prospective employers for a professional personal trainer want to know you are “certified” and hold a certificate from an accredited program.
You should also have a basic understanding of the structure of the human body and especially the bones and muscles, the effects of exercise, nutritional basics, safety, and some of the science behind what you will be doing.
Before you decide on where you want to get your certification or training, you need to examine your vision and goals.
Characteristics of a Good Trainer
Personal trainers need to have a multitude of skills. Just some of the basic characteristics that they has to be:
Analytical
Motivational
Nurturing
Organized
Patient
Persistent
What Kind of Training Do You Want to Do?
You might think that personal training is quite a straightforward thing, but there are a lot of options to choose from. The first and most important decision you will have to make is what kind of training you want to do. It can be broken down into different methods, such as:
Fitness Instruction – Teaching fitness classes is a high intensity and in-demand skill that it almost always pays to know. Fitness instruction can take on all sorts of disciplines.
Working In Business Offices – It is a slightly rarer form, some personal trainers work in busy office buildings, giving the people who work access to fitness training as a perk of the job.
One On One Training – One on one training is what most people think of when they hear ‘personal trainer’. Here, you build up many clients with who you work with one on one for a set amount of time each week.
Hotel or Spa Training – Many hotels and spas will often hire personal trainers as a way of expanding their offering to clients.
Now, you will need to decide how you want to work and plan your business according to that. Personal trainers are always in high demand, so there are many options open to you. If you don’t want to be employed directly by a gym or club then you have two main options – one is either you can set up your own or buy a franchise. Both of these options work well for different people, and there is a lot of growth and success in each of these.
Sole Proprietorship
If you want complete ownership of every single thing of your business, from the name to what areas you operate in, you are much better at forming your business from scratch. You will be able to choose what direction you take the business in. You will also be responsible for sorting out your insurance and other activities. Remember, if you choose this option, you will need to register your business as a sole trader or a limited company.
Franchise
The other option is to buy an existing business in the form of a franchise. Instead of starting from the beginning on your own, you buy a franchise of an existing personal training businesses. However, it’s often not the cheapest. Unlike running your own business, where you get to choose where your money is spent and how much.
Market Research
Once you have conducted your market research, that data will help you how to plan your business strategy around the services you offer.
By using your existing network via your email list or your social media channels you have access to many audiences. If you need a broader audience for your survey, you could ask a specific demographic to share your survey.
In your planning for your personal trainer business, you need to be confident that you are putting your efforts into the right things. By doing this you can improve the quality of your business decisions.
Using online surveys determine what your clients want to learn more about and get more support. With this, you can make sure that you are giving them what they want.
Facebook, Instagram, and Twitter all have options to post polls. Posting similar surveys across each platform can give you a good idea of how to plan further processes.
At some point in set-up, you’re going to need to spend some money. A personal trainer who will be seeing most of their clients either at their own home or in an outdoor environment might need:
Dumbbell and weight sets
Sandbags
Boxing equipment
Kettlebells
Bodyweight leverage training systems
Steps
Stability ball
Balance trainers
Battle ropes
Weight machines
Flooring (you will need to invest in proper flooring for both stability)
Gym clothes
Marketing of Personal Training
Industry Blogs – A great way to showcase your expertise in health and fitness is by writing for reputable topics. Make a list of various websites and magazines in the industry and reach to them in charge of content.
Build an Email List – In the marketing world, there’s a saying, “the money is in the list.” As a personal trainer, building your email list can end up being your number. And send frequent emails.
Engage with Clients on Social Media – Whether it’s on Facebook, Instagram, Twitter, or LinkedIn, starting (and continuing) the conversation with people who interact with you on social media is crucial.
Apply to Every Personal Training Directory – A simple Google search and you’ll find that there are tons of personal training directory listings to help you get more exposure and allow your services to be seen by more people.
Brand Your Personal Training – Branding your specific exercise strategy is a great way to separate yourself from the hundreds of other personal trainers competing for clients.
Payment Methods
The range of payment options you have for fitness services and online personal training. The best solution always will be a compromise between what your clients trust the most and what works best for your business management strategy.
Cheques
Cash
Bank transfer
Recurring Payments
Card Payment
Online Payments( Paytm, PhonePe, Google Pay, Amazon Pay)
Conclusion
Starting a business as a personal trainer is quite a good option and there are many people who are opting for it. The main reason for its popularity is because this business has Flexible Hours, satisfaction, low overheads and a lot of options. One needs to be very careful and follow all the steps carefully. With time, the fitness sector will get more popular and the personal training industry will experience growth.
FAQs
What is a personal trainer do?
Personal trainers help a variety of individuals to achieve diverse goals regarding their health. The market for fitness training is large and includes all ages, body types, and goals.
Are personal trainers rich?
A Personals trainer average income in a year is $34000.
What is the size of the fitness industry?
The market size of global fitness industry is $87 billion.
Personalized marketing means customizing your marketing strategy as per the need and convenience of your customer. This is also known as one-to-one marketing. The information about the customers is collected from different sources. This is used to make their user experience better.
Imagine you went to visit a relative and they exactly remember your likes and dislikes. They serve your favourite food and only talk about the topics of your interest. Wouldn’t you feel close to them? You might even want to visit them more often.
This is the basic formula for personalized marketing. So, if you were thinking that personalized marketing is just adding the first name of the customer to the subject line of your email, think again. Here is everything you need to know about personalized marketing
An online survey was conducted by Epsilon, in 2017, on a group of 1000 people. As per this survey, 90% of customers find personalization appealing. Further, 80% of the customers claim that they are more likely to buy products from companies that offer a personalized experience.
Today, more and more companies are shifting to personalized marketing. The reason for this is the immense benefits for both customers and businesses. Some of the benefits of personalized marketing are:
Better Customer Experience
No customer wants to know the details of all your products. If someone is looking for watches, there is no point in displaying sunglasses. If a customer feels you are only trying to sell your products there is a high probability they will leave for good.
Personalized marketing helps improve the customer experience by predicting and providing them with the options of their choice. It creates suggestions based on the earlier searches of the customer.
This makes the customer believe that you understand their needs and not just advertise your products. Hence, it builds a trusted relationship between the brand and the customer.
Enhanced Customer Loyalty
According to Customer Retention Statistics, the probability of a company selling its products to existing customers is 60-70%. This makes customer loyalty quite important.
When a customer provides information, in return they expect the company to treat them with attention. So, if you send them a personalized list of products based on their unique preferences, you might have a customer for life.
Increased Return on Investment
Personalized marketing can be a very cost-effective strategy. There are multiple channels available to reach the customer viz. emails, calls, text messages, etc. By using the right kind of automation technique a company can identify the preferred channel of communication for every customer. This way the customers engage better with the brand. The customer can then be followed on other channels using the omnichannel approach.
Challenges of Personalized Marketing
According to a survey conducted in 2019, almost two-thirds of the marketing influencers identified personalized marketing as the most difficult strategy to execute.
Some of the challenges associated with this form of marketing strategy are described below:
Striking the Right Balance:
Personalized marketing is an amazing approach until used excessively. The customer should not feel stalked. It is important to provide the right suggestions, at the right time.
In a global poll conducted by Marketo, nearly 63% of the customers said they were annoyed with excessive, irrelevant, and repeatable advertisements from the companies. Therefore, the balance has to be maintained between providing valuable personalized content to your customer and forced advertisement.
Gathering Customer Data:
Providing an experience tailored to the need of particular customers requires knowledge of their interests. This would help you to predict the options of their choice. There are two main channels to gather this information.
The first is analytics. This relies on tracking the customer’s activities while they are on the site. However, this is seen to make some customers uncomfortable. It might appear creepy for some people to see the advertisement for their recently viewed products.
The other channel is surveying. Here, the customers can themselves provide the information about what are they seeking. However, whether the customers will actually participate in these surveys usually depends on their length and objectivity.
The multiple questions surveys requiring long answers are usually skipped by the customers. Hence, the information has to be drawn cautiously without freaking out the customers. Equilibrium between transparency and convenience has to be maintained.
Finding the Right Resources:
An effective personalized marketing strategy requires advanced technology and efficient teamwork. Automation and data collection are the key ingredients of personalized marketing. This poses the need for advanced software and technology.
Similarly, a dedicated team ready to devote time and efforts to make a personalized marketing plan work is equally important. The software collects data while the team decides the use of that data. This cannot be achieved using mere algorithms. A team plans and tracks the use of resources.
Consistency Across Channels:
Brands interact with their customers using multiple channels. To match the app experience with the in-store experience, it is important to maintain consistency between these channels.
The customer’s needs and demands can be well identified by tracing common threads across all these channels. This information can be compiled to form a unique customer profile.
Although most marketers find it difficult to create a link between data and customer profiles, once done it becomes an extremely important resource. This helps generate the content of interest for the customer and increases the possibility of response. Moreover, it also helps anticipate the future needs of that customer.
Areas to Use Personalization to Improve Customer Experience
How to Create a Successful Personalized Marketing Strategy?
Creating a successful personalized marketing strategy can be tricky. However, there are simple things that you can do to make your plan work.
Content Personalization Engine:
If you are not using this yet, it is better to get one. It can help you in more ways than you can imagine. Also, if you are already using it, try comparing it with other available options to keep your business growing.
Capturing Data:
It is important to have information about the browsing history of your customer if you really wish to reach them personally. Adding a few lines of code to your website will solve the purpose. You can track the purchase history, time spent on site, number of clicks, etc. This will help you to correctly predict the response of a customer towards certain products.
However, it is equally important to respect the privacy of your customers and not appear creepy. To build a strong relationship with your customers, they must see you as a responsible brand that cares for their needs and respects their privacy.
Do provide a disclaimer about how you are using the customer data. Further, providing the customers with an option to opt-out at any stage makes them trust you more.
Segment Your Audience:
Having the data is the first step. Post that, this data has to be analyzed to segment your audience. This can be done based on spending levels, buying patterns, products of interest, etc. Thereafter, you can choose the most relevant segments for your brand. This will help you build an adaptable website beneficial for your brand as well as customers.
Choose Your Platform:
After segmenting your customers based on different criteria, you will have to choose the platform best suitable to reach them. There are a number of platforms such as emails, remarketing ads, etc.
Your data becomes valuable if you can use it to create a personalized solution by providing relevant content to your customers. However, your content is only valuable if the customer actually notices it. Therefore, it is important that you reach your customers through the channel of their choice with the information of their interest.
Examples of Personalized Marketing
Some brands have taken personalized marketing to a whole new level. In this section, we will discuss the strategies of five such brands.
Shutterfly
It is an app and a website that assists you in creating customized photo books, calendars, etc. You can create items with your photos laminated on them. The company had already been sending personalized emails and notifications to its customers. However, recently they added another feature to their phone app.
Once you allow the app to access your photo gallery, it automatically identifies your face in the photographs. It then pastes these photos on the items of your choice available on the app. Later, it sends recommendations for you to buy those items.
Amazon
The product curation and recommendation algorithm used by Amazon has been appreciated since the beginning. It does not just remember the product of your choice but also your size, colour preferences, etc. This makes shopping with Amazon a great experience for users.
Amazon Personalized Recommendations
Amazon has mastered a super-innovative technology that is proactive and provides data-driven recommendations. No wonder customers connect to this brand so well.
Spotify
Almost all the music apps provide you with automated music recommendations. However, Spotify’s Discover Weekly service has taken this to another level. The quality of the picks is consistently good. The app seems to know its users way too well.
Spotify Personalized Recommendations
The technology behind the app is from Echo Nest which was acquired in 2015. Using the algorithm, the app determines the musical taste of the user based on their listening behaviour. For example, if a user fast-forwards the song in less than 30 seconds, it is a thumbs-down. The app would then avoid notifications for that particular song or artist.
Iberia Airlines
The Company launched a campaign in 2016 where it sent emails to the customers asking certain questions. The questions included asking about your dream holiday destination and who would you like to go with. To answer these questions, customers had to fill in the details of the person they wanted to travel with like their name and email address.
The website would then send a holiday greeting card to that person telling them about your dream vacation. The website used cookies with the permission of users. So, the other person would see similar suggestions across the web.
Twiddy
As mentioned in the previous section, just having the data is not enough. You should be able to utilize it to its potential. Twiddy is a vacation rental company. It collected and analyzed the data looking for the week-to-week shift in rental volume and demand.
Based on this information, it sent recommendations to the homeowners regarding pricing. The information was both helpful and actionable. This helped the customers to set more realistic prices based on the demand. The final result included increased bookings and delighted customers.
Devising a great personalized marketing strategy is easier said than done. Especially today when the market is full of competitors and customer demands are at their peak. However, we sincerely hope that the information and suggestions given in this blog will help you through the process.
FAQs
Why is personalized marketing important?
Personalized marketing has become an important criterion for customer satisfaction. The customers provide their personal details to the brand and in return, expect to be treated uniquely. It has now become the need of the hour for marketers to treat their customers with the attention they desire.
How to measure your personalized marketing strategies?
There are a number of ways you can use to gauge the effectiveness of your personalized marketing strategies. Tracking the customer response and creating intuitive reporting dashboards can be of great help. This information will help you identify both the strengths and weaknesses of your strategy.
How do you use marketing personalization?
Segment your customers, use targeted messaging, track the behaviour of customers on your website, retarget customers and send personalized emails are some of the ways you can use personalized marketing.
Use of drones for getting materials across difficult terrains is a familiar picture to all of us. The usage of drones can be dated back to World War 1 where they have carried out their respective tasks in unimaginable terrains in the most efficient manner. Over the last few years, drones have become an important part of many businesses like photography and delivery systems.
Drones have especially become popular when it comes to packaging delivery operations as it saves a lot of money on manpower, operations and maintenance. Moreover, it also reduces the room for mistakes. It is expected that global package delivery operations will be valued at over 6000 million dollars by the end of 20206, growing at a rate of 53% every year from 2021 to 2026.
In view of these dazzling statistics, several drone delivery startups have mushroomed globally in a very short span of time. This article will look at the drone delivery startups that are based in the United States.
Founded in 2019, Mighty Fly delivers supplies to medicines, spare parts, and the mining and gas industries. Apart from delivering goods to remote locations with the help of heavy cargo aircraft, they also provide customised drone services.
This drone delivery startup was founded by Manal Habib, and Scott Parker and has its headquarters in San Francisco. They hope to restructure the ways in which logistics were perceived through efficient designs and plans in a cost-effective manner.
2. UPS Flight Forward
Founder: Myron Scott Wright
Founded: 2019
UPS Flight Forward Drone
UPS Flight Forward is a drone delivery service by UPS that focuses primarily on delivering medical supplies to different regions across the United States. They have expanded their base by partnering with various other similar firms like Matternet, CVS, WingCopter etc so as to make the most out of this next-generation technology.
3. Volansi
Founder: Hannan Parvizian and Wesley Zheng
Founded: 2015
Volansi Voly 50
One of the top drone delivery and aerial logistics company Volansi is based in California and was founded by Hannan Parvizian and Wesley Zheng in 2015. They are specialised in delivering shipments over long ranges. Since they have fixed delivery routes, the customers can get their deliveries within a very short span of time.
Their long-range services have helped in expanding drone delivery services even to very remote areas. Recently they released VOLY 50 series, which is an unmanned, multi-role, VTOL aircraft that has a better flight range and flexible payloads.
4. Matternet
Founder: Andreas Raptopoulos
Founded: 2011
Headquartered in California, Matternet offers completely automated drone services that are available on-demand. Their drones are completely powered by batteries. They were the first ones to power vaccine drone delivery in the US.
Matternet has developed easy-to-use stations across operational routes so as to ensure proper battery exchange and automated payload. They have received total funding of USD 31,140,701 as of October 2021.
5. Flirtey
Founders: Ahmed Haider, Matthew Sweeny, and Tom Bass
Founded: 2013
Flirtey Drone
Founded by Ahmed Haider, Matthew Sweeny, and Tom Bass, Flirtey provides an independent drone delivery service to deliver mail, food and medicines. It was founded in 2013. They use automated drones. This small step has saved the startup a lot of money that would have otherwise been spent on cumbersome logistics and operations.
Apart from their path-breaking vision, they are also the first startup to carry out an FAA-approved drone delivery in the US. They are also the first ones to have a commercial drone delivery service in the US as well.
6. Zipline
Founders: Keenan Wyrobek, Keller Rinaudo and Will Hetzler
Founded: 2014
Zipline Drone
Zipline is one of the most popular drone delivery startups in the US. They are known for their automated drones that carry out the delivery of blood and other important medical supplies.
They have a network of hospitals that are in turn connected to the patients who will require these supplies on a daily, weekly or monthly basis. These deliveries are carried out by leveraging proprietary fixed winged drones. It was founded in 2014 by Keenan Wyrobek, Keller Rinaudo and Will Hetzler.
7. Shield AI
Founders: Ryan Tseng and Brandon Tseng
Founded: 2014
Shield AI Drone
Founded in 2014, Shield AI is headquartered in San Franciso. They manufacture autonomous drones that are used for patrolling and surveillance. They have also developed a deep neural network-based system that suits them best for battlefield applications. They primarily cater to first respondents and law enforcement personnel.
8. Google Wing
Founder: –
Founded: 2018
Wing Drone
The Wing is a subsidiary of Alphabet that provides drone delivery services over small ranges. They are the first ones to receive air carrier certification from FAA. Their drones can carry small packets that weigh less than 3.1 pounds. They ensure that the customers don’t come into contact with these drones by delivering packages 20 feet above the ground.
9. Ware
Founders: Ian Smith and Joseph Moster
Founded: 2019
Ware Drone
Founded by Ian Smith and Joseph Moster, Ware focuses on self-flying autonomous drones. They have blended their expertise in robotics and machine learning for better delivery experiences. They have connected various distribution centres with respective warehouses so as to make the process of delivery smooth.
Drone delivery package systems have paved the way for the inception of many startups in the United States of America. Apart from the growth of technology and required logistics, the government is also very supportive of the developments. Various rules and regulations that ensure the safety and security of the people associated with this system encourage better research and innovation in this region.
Apart from that distribution is an inexhaustible area which only expands with the passage of time. In that case, there will not be any shortage of funding as well. If you look at all the startups that were mentioned above, each one of them is extensively funded by multiple investors which is evidently reflected in the kind of work that they do. The drone delivery system is a budding area of technology that has the potential to reduce global geographical disparity.
In our attempts to create a global village out of this world, the strengthening of drones and related AI platforms is of prime importance. However, it is also to be noted that the technology that serves the people through drones can also be misused for various illegal activities. Hence, while research and development in this area are encouraged, it is also important to institute appropriate checks and balances. In that way, this budding technology can benefit the whole of humanity.
FAQs
What is the biggest drone delivery company?
UPS Flight Forward, DHL Parcelcopter, Wing, Matternet, Zipline, Flytrex, and Flirtey are some of the leading drone delivery startups.
Which company started drone delivery?
Wing by Alphabet was the first company that launched its commercial drone delivery service in October 2019.
What companies are leading drone technology?
DJI, Yuneec, Skydio, and Kespry are some of the leading drone companies in the world.
Is drone delivery the future?
Yes, Drones have proven to be great for many logistics companies around the world. In the near future, we might witness drones delivering medicines, food and much more.
Preeti Karna
