As humans, our main source of entertainment has always been movies and series. Two decades ago, television was the main form through which we used to get our daily dose of entertainment. Flash Forward to two decades later, Streaming services have taken the place of television. People are now more into OTT platforms for their dose of entertainment and these streaming services are also serving them with regular movies, series, reality shows and everything that can entertain them.
Topping the list of streaming platforms is Netflix. Netflix was founded in the year 1997 by Ted Sarados and Reed Hastings. It started offering streaming services in 2007 and since then it hasn’t looked back. There is hardly anyone who doesn’t know about Netflix and hasn’t used it to watch a movie or a series at least once. According to Netflix, they have over 222 million subscribers from all over the world. Therefore, it is not wrong to say that it is the most popular streaming service.
However, recently the biggest streaming platform has encountered some pretty big roadblocks and somehow they are the only one who is responsible for this. Netflix was eyeing to add 2.5 million new subscribers in the first quarter. However, the opposite happened, Netflix has lost over 200k subscribers in a couple of months and 37% of its shares plummeted in a single day. In this article, we will talk about what has gone wrong with Netflix, why it is losing its subscribers and why its shares dropped for the first time in a decade. So, without any further ado, let’s get started.
Netflix Share Drop
“There is a revolution happening, and within two years I think that Wi-Fi and Netflix will be built into all the televisions.” -Reed Hastings
What Reasons Is Netflix Giving for Share Price Fall?
After the drop in the share prices, Netflix has given three reasons for the loss of its subscribers and they are:
Increase in Price
Netflix Subscription Plans
Netflix has increased their monthly subscription price in recent times. UK subscribers are said to be paying three times more for what they used to pay two years ago for the same service. This has created quite a stir amongst the subscribers. Although Netflix said that the increase of the price is to provide more quality content and experience to their customers, the sudden hike in the prices in the UK and Ireland was frowned upon by the public.
Netflix Exit From Russia
Just like many other companies Netflix also suspended their operation in the country because of the ongoing conflict between Russia and Ukraine The Russia-Ukraine war is another major cause of the subscriber’s loss of the platform. Netflix stopped all their services in Russia after the country declared war on Ukraine. Over this course, Netflix has lost over 700k subscribers because of the escalation of the war.
Sharing of Passwords
Netflix said that the sharing of passwords with other households is also the reason for the loss of subscribers. According to reports, 100 million households are enjoying the streaming service free of cost, with the help of password sharing. As mentioned above Netflix has over 222 million subscribers and these people are sharing their passwords with their friends, extended family and relatives.
Where Netflix Went Wrong?
While in this situation, some of the decision by Netflix has backfired and are constantly frowned upon by the customers. Those decisions are:
Advertisement on the Platform
From its very existence, Netflix as a platform never included ads in their services and the brand value has always been about improving the customer experience. Unlike other streaming services, Netflix avoided advertising and believed that it could do better business without it. In a sudden shift in the platform’s belief, the CEO of the streaming giant revealed that they are planning to introduce advertising on the platform in one or two years. Contrary to their previous statement where they said they will not use advertisement and. This is going opposite of their brand values as they have always focused on improving the customer experience. This decision came after Netflix was reported of losing over 2 Lakhs subscribers. According to them, it is to lower the price of the subscription.
Sharing Password Crackdown
This is probably the biggest blunder the streaming giant has done. As mentioned above, there are over 200 million subscribers of Netflix in the world but along with that 100 million households are sharing the passwords of their accounts with others. Password sharing was never a problem and one of the reasons the streaming platform was popular because of this and how consumer-friendly it was, until now. Netflix reasons that the increase in their price structure of the subscription is because of password sharing, so to decrease the subscription cost they have decided to stop password sharing.
Being Insensitive
The worst thing, a business can do is treat their customers as criminals. As mentioned above, Netflix is on the verge of banning password sharing among households in America. However, before that Netflix is reported to fine accounts in Costa Rica, Peru and Chile who share their password with others. This somehow is quite triggering and seems unfair to certain cultures of the world and is tarnishing the image of the brand.
Bad PR
It takes a lot of time to build the reputation of a brand but it takes a second to get it crumbled. Netflix as a brand always focused on customer experience and entertainment. However, the recent news of cracking down on passwords, increasing the subscription price and introducing ads on the platform shows that they have become money-hungry and are not that consumer-friendly anymore. This way, the damage has already been done and the PR of the company hasn’t even done their job properly, which has resulted in such a stir. As they are now changing their core strategy, customers are finding it infuriating.
Cease to Innovate
Netflix has been famous for its great and unique content. However, in recent times, people believe that the streaming service has stopped making unique and innovative content. They are creating content that are mundane and repetitive. This way they are forgetting the basic thing that made them successful.
What Will Netflix Do Now?
Netflix is right now in deep trouble. There is still no definite answer as to when Netflix will stop losing subscribers. It is the first time in a decade that the streaming giant has received such a blow. In fact, the worse is still not over as Netflix has already said that it will lose more subscribers with the current scenario. By the next quarter, it is predicted to lose 2 million more subscribers. Netflix is currently gearing up to follow its decision of introducing ads on the platform and banning password sharing. However, it is not clear if these two decisions will be able to revive Netflix or it will make it fall more into the abyss.
Conclusion
Netflix is submitting itself to the current Global financial situation and thus it has seen a drop in its shares and such a big one for the first time in a decade. Their way of handling the situation and lack of proper PR seems like they are only thinking about their revenue. So their decision of introducing ads and password crackdown make them look like they are shifting from being a customer-centric company to just a money-hungry organization. If proper steps are not taken any sooner, Netflix will lose more subscribers and maybe its USP as well.
FAQs
Why did Netflix lose 200k Subscribers?
Netflix is losing its subscribers because it recently has decided to put a ban on sharing the account passwords by consumers.
Who is the founder of Netflix?
Reed Hastings and Marc Randolph are the founders of Netflix.
When was Netflix founded?
Netflix was founded in the year 1997 and started its streaming service in 2007.
If you’ve purchased something online, you may have observed the feature to buy now and pay later, that’s becoming increasingly common across e-commerce platforms. And you may have observed this feature in offline places as well, such as retails, and for several folks, this choice is very effective because usually, you’d have to save up until you could purchase that fancy new pricey item that you want to shop, no one intends to do that, notably if it’s on sale now and won’t be in a couple of months. We need things right now.
We wish to shop for them now and pay for them subsequently, and the typical approach was a form of credit or a credit card. However, obtaining a credit card in India is not always simple, and when you do, you’ll be hit with a slew of interest charges. You are mysteriously in debt, if you’re not cautious, that credit can take ages to pay off.
So, either you save for quarters or you go into debt, and that’s where buy now pay later comes in. The BNPL startups are capitalizing on the appeal of paying for stuff later, just like you’d with a credit card and aiming to make it convenient.
I stated earlier about snazzy new valuable stuff such as mobile phones, tablets, and televisions, but BNPL is now becoming accessible for daily necessities as well. Groceries, apparel, and even diner food Zomato and Swiggy are now providing BNPL as an alternative, and these types of BNPL use scenarios are probably a major root of rivalry right now for existing companies in the lending space, with the expected count of BNPL users in India reaching million by 2026.
By 2026, this will account for nearly 7% of Indians. Cardholders now contribute to just over 2% of India’s populace or 30 million, and it’s more than twice the average of BNPL users, which is between 10 and 15 million, and that number is burgeoning.
So, if you’ve not guessed, BNPL and credit cards are related in terms of the services they provide. Credit cards and buy now, pay later cards (BNPL) is a type of credit. This is a debt, not a credit card. You’re deriving funds from a 3rd person in both instances. It could be a BNPL firm, one of the financiers with which they have affiliated, or a credit card issuer, which is typically a bank. However, the issuance of credit cards and BNPL differs significantly.
So, if you’ve ever applied for a credit card in India, or if you already have one, you’ve most likely received a call or an email from a bank salesman congratulating you on your new card eligibility. Moreover, what’s happening here is that your contact details, that is linked to your identity, are now in circulation among most monetary organizations in India, as well as a few swindlers, but there’s a good chance that if you seek to get one of these cards, your request will be denied.
Irrespective of what the sales representative told you, acquiring a credit card in India is seldom as simple as the sales representative makes it seem. You must be beyond a certain age, you must meet an income cap, which implies you must have a career with a decent payslip, and you must most likely have a high credit rating, which makes it incredibly tricky for novel applicants into India’s lending market, folks residing in remote areas who may not even have a proven credit file, and same goes for freshmen who have just begun.
They’re steering clear of defaulters. Folks they believe pose an undue risk. Essentially, they maintain their NPAs minimal by upping the ante for their clients. But once you’re a client and obtain a credit card, the hardships and obstacles do not end there so you have to pay for your credit card.
Some credit cards charge a yearly fee only to own the card, close to a membership, but those that don’t typically cost exorbitant interest and a slew of other fees for stuff like exceeding your credit line, reimbursing your minimum deposit late, and cash withdrawals from your credit card to your bank. When you add up all of these obstacles to entry and client pain points, it’s no shock that many Indians dislike credit cards.
Brands such as Slice, Zest money, Simpl, Lazypay, and Uni are limiting the barriers that credit card companies have raised. In India, almost anyone can BNPL; all you have to do is offer information such as your PAN and Aadhar number. Rather than focusing on credit scores, these BNPL companies are using their algorithms to identify how much loan you must be awarded based on your previous transactions and site, once you’ve been a BNPL client for a while and are in good condition and have billed your loans, they’ll also boost your spending limit.
Another element to take into account is the timeframe. Card issuers anticipate that you will decide when to pay off your loans. They offer you a monthly minimum payment that you should return to them, principal and interest, but again, it is up to you to pay back the loan, and many struggles with that freedom. They reimburse the bare minimum without creating much of a hole in the principal, which is the original loan value before interest costs.
With BNPL, credit payout is spread out over a set period, typically a month or two, using a process named as EMIs. If you pay these monthly installments, your BNPL loans will be paid off after a set period. Is this to say that the BNPL plans are interest-free? Both yes and no. It depends on the console and BNPL firm from whom you are accruing.
The longer the loan term, the larger the interest rate. If you choose a short-term BNPL tenure, such as 15 – 45 days, you will most likely avoid paying any interest if you pay back on time. You’ve essentially just spread out a fee that would’ve been made immediately over a period of several weeks. However, if you choose a longer time frame of 3 months to a year, your interest rate could range between 10 and thirty percent, based on a range of factors. However, this is made upfront so that BNPL clients are cognizant of deferring fees for a longer time.
Card issuers, on the other hand, allow you to dig yourself a big trench. One credit transaction here, another there, and you’re unexpectedly trying to cope with minimum payouts, while your loans continue to increase as interest compounds. So, BNPL appears to be the clear victor here, correct? Isn’t it a type of loaning relevant and personalized?
That’s the story that BNPL fintechs want you to believe. But let’s look closely at how these companies work.
Let’s begin with the final consumer, who is acquiring a product now and paying later from a vendor who is an offline vendor, such as a shop owner, or a virtual vendor, such as a D2C firm or an eCommerce storefront. Then there’s the BNPL supplier, who is responsible for supplying the tech here. They examine the final consumer using sophisticated algorithms and decide how much to lend them, but this credit isn’t flowing from their wallets, at least not most of the time. Rather, these BNPL businesses have teamed with lenders, either nonbanking financial firms or full-fledged banks.
So, here we have a true overview of the consumer, vendor, BNPL mediator, and bank or NBFC. Often the BNPL vendor is an NBFC, and that’s just one of their many product lines, and they’re often a Fintech firm, such as Paytm, which offers BNPL, and often the BNPL company is also a vendor, such as Flipkart or Amazon, which have their specialized BNPL solutions.
So the concern is, how do BNPL firms earn money? There are a couple of income streams.
The first one arises from vendors such as card issuers and point-of-sale (POS) providers. BNPL firms charge margins ranging from 2 to 8% of the original cost. The vendor is fine with it as they see the chance to network with the BNPL supplier. For starters, they experience a rise in conversions and an average deal worth because clients who previously could not afford high-ticket items in their shop or marketplace can now do so. So, partnering with the BNPL firm facilitates vendors with more clients who spend thousands, and the best feature is that they don’t bear any of the risks.
The BNPL firm earns on behalf of a client. As a result, the monthly EMIs buyer pays do not benefit the vendor. The vendor has been fully paid; rather, the final consumer pays the EMIs to the BNPL firm, which accepts all of the peril.
And what if the end-users are unable to meet their monthly EMIs? Since many BNPL firms charge late fees, this is where the 2nd income stream comes in. As per bank bazaar, these fees vary from 2 to 8 % of the foremost loan balance, or they can be a fixed fee ranging from 0 to 750 INR.
To try to get these debtors to pay up, it’s almost like a punishment. It’s worth mentioning that some BNPL companies don’t cost extra payments and instead prefer to start slowly to avoid defaulters. They initially give an amount owed that they can easily lose, and if the client repays them, their line of credit is gradually increased. If a payout is late, the user’s ability to repeat procuring items through that BNPL site is revoked, and the user’s credit rating suffers as well.
Challenges Faced by BNPL Clients and Customers
The industry is facing a lot of issues. Many BNPL clients still have no idea what a credit rating is. They are unaware that avoiding paying off their BNPL dues on time will permanently harm their fiscal identity. They have no prior loaning experience. They haven’t been a client of a lender, and that’s where we soon run into troubles because, as I previously stated, BNPL companies make it extremely simple to obtain a loan. Even for those with no previous fiscal expertise and little financial self-control.
Sadly, some folks can spiral out of control. Without realizing it, they are overspending than they can manage to cover later. Of course, BNPL parties are aware of this, and they argue that it’s early in the season. Because debt users in India are low, they don’t have huge data to deal with, so they’re developing concepts.
They are steadily accruing a ton of information on first-time Indian debtors, and as they derive insights, they are reworking their equations, working with first-time debtors by starting with small loan confines and then providing larger loans to reliable debtors and identifying unreliable ones.
To put it another way, they’re laying the foundations for enlightening the fiscal reliability of a sizable undiscovered segment of India’s populace. It’s like a public good, or so they’d describe it.
Customers, particularly those who are not tech or monetarily savvy, are uninterested in these concepts. This bird’s-eye view means nothing to them. When they seek themselves suddenly in a sea of loans, they fear, curious how a relatively harmless buy now pay later forum got them there and how no one will offer them a loan to pay off their other line of credit since their credit rating, which users didn’t realize they had, has now turned red. They may lose hope of coming out of the financial mess.
This, of course, will not cause BNPL entities to slow down. At least not without the government’s help. Indeed, as more capital is poured into buy-now-pay-later businesses, the situation is only heating up. To stay viable, BNPL firms must connect with more prospective customers, either by entering untapped communities in remote areas or by poaching clients from rivals by giving them even simpler loans.
You can now adhere to BNPL from 4 or 5 multiple devices and collect up to one lacs with surprisingly fewer formalities and no payslips. There are even reports of BNPL firms failing to perform precise KYC or credit bureau checks. They’re expanding so quickly that they can’t extend their due diligence, and there have been reports of failures not being disclosed to credit bureaus.
To be honest, matters in India’s BNPL space are currently out of regulation. Unapproved credit institutions are springing up in the lack of sufficient regulations. For instance, in early 2021, an influx of Chinese lenders apps harassed and humiliated clients into repaying loans at exorbitant daily escalating interest rates by using user information and phone authorization.
The RBI discovered that of 1100 lenders apps in India, 600 were illegal, while these 600 unauthorized apps aren’t all BNPL apps, they are a manifestation of a bigger issue in the loaning space in India right now. Financiers and loan mediators are throwing caution to the wind in favour of expansion at any cost.
RBI Working Group Report on Digital Lending
The RBI’s online lending working group is developing innovative forms for safer business exchanges. Although the online lending market grew 12x between 2017 and 2020, the RBI did not govern several of the new businesses, according to the latest study.
Typically, these companies and apps collaborate with banks and NBFCs to assist. As a result, prompt loans are becoming available at the expense of higher risk. It has also led to client excessive debt, legislative arbitrage, and high costs.
The report reveals such flaws while also offering a great structure for the industry. The study’s pertinent points are explained below to provide a clear grasp of the proposition.
Differentiation among LSPs and BSLs
Loan Service Providers (LSPs) and Balance Sheet Lenders (BSLs) are separate entities (BSLs). LSPs are apps that offer clients borrowing choices. They don’t get to be explicitly controlled, so they must collaborate only with governed financiers that can offer the assistance.
BSLs, on either hand, lend money and stably claim credit threats. They always are governed. This difference enables LSPs to handle the front-end expertise, whereas BSLs handle compliances and threats.
Ban On FLDG
An FLDG tool, or Ban On FLDG First Loss Default Guarantee, enables ungoverned companies to give credit to borrowers and claim credit risk. The study advised against using a trojan horse entry.
Many fresh lenders face difficulties because their systems are based on shadow lending. This part entails neo-banking and Defi (decentralized finance) concepts for a modal test. Innately, the study guides that only governed agencies should be allowed to take credit risk.
Supervisory arbitrage must be eliminated
The study recommends classifying all credit lines as credit instruments and eliminating supervisory arbitrage. Eg: most BNPL providers treat this feature as a purchase rather than a loan, and thus lack adequate KYC computation. They are unrelated to the credit bureau.
Client Protection
In some cases, the fees and rates are as large as 100%. The working group suggests a few steps to safeguard consumers from such practices. These are some of the suggestions:
Use a proper APR for all interest and fees.
STCC – must conform to relevant standards to avoid exorbitant fee rates.
Limit high-risk, very short-term debts with no tranches.
Recapitalization and over-indebtedness should be limited.
Insurers must also make sure that the LSPs associated treat debtors fairly, particularly in collection practices. To verify trusting clients and a healthy ecosphere, all forcible actions are avoided.
Data Security
The info is owned by the customer, not the institution. All critical loaning situations require clients’ assent to use their data. This includes any e-commerce system that supports customer info to make underwriting choices. This improves data safeguards while retaining customer trust.
SRO And DIGITA
The study recommends that the RBI establish a Self-Regulatory Organization (SRO) to regulate operations and set guidelines. It also suggests developing DIGITA (Digital Trust of India Agency). DIGITA will meet the basic specifications for verification of conformance. Companies that have not been accepted by DIGITA will be considered non-compliant.
What Should Customers Be Wary of When Using BNPL Apps?
To begin, consumers must ensure that the app they are installing is from a licensed lender. If a firm does not have an RBI license, it must simply define under whose license it is selling products. Before installing, look into who is releasing the app, visit the site, and ensure it is a well-established and certified Indian corporation.
Second, if the firm is licensed, see if it explicitly shows this on its webpage, along with the RBI regulations that it adheres to, such as the grievance handling framework and interest rates. Furthermore, never install apps that request contact info because they are used for duress.
Third, while most BNPLs assert no charges or nil interest, you must learn the real loan amount. Even if firms claim zero percent, they are required to disclose their IRR – Internal Rate of Return – so buyers must ensure that the firm or app discloses all these for their safety.
Conclusion
BNPL is a valuable tool, but it should not be used for every acquisition a buyer intends to make or for daily purchases, as this would be over-leveraging oneself.
However, when handled efficiently and sensibly, the fact that rather than trying to make all of the payouts now or using a credit card to purchase, you are simply getting an option to acquire an item for nearly the same cost and drill down into 4-5 payouts is an effective device to have.
This is the benefit that BNPL firms provide, and it is the reason for the rapid acceptance because clients realize and require it. Buy Now Pay Later is an ideal, smooth payment system with vigilance on the part of the users and accountability on the part of the financiers.
FAQs
What are the risks of BNPL?
BNPL companies do not charge interest but charge high late fees which many consumers fail to pay and are later mounted in huge debt.
Is BNPL regulated?
No, Buy Now Pay Later companies are not regulated in India which has resulted in their growth and scams.
What is a BNPL company?
Buy Now Pay Later companies are companies that allow consumers to purchase the product and pay later in small installments.
Do customers add products to their cart but ditch them without completing the transaction? We know how badly it affects your business. That is why we are here with some expert tips on how you can reduce shopping cart abandonment. Delve in!
Most online shoppers have a bad habit of ditching their cart items. This ditching process is popularly known as shopping cart abandonment in the online shopping world. The customer might not care much about abandoning the product added to the cart. However, it is a major headache for the sellers. They take a note of each cart activity to calculate the cart abandonment rate by dividing the total number of complete transactions by the total number of incomplete or abandoned transactions. Currently, the global cart abandonment rate is around 74%, which is huge.
For the sellers, even a small cart abandonment rate is heartbreaking because they want their business to flourish like never before. Hence, they try their best to reduce the rate. But most of them are new to selling things online and cannot manage the work alone. If you are also one such seller, we are here to help. In today’s guide, we will teach you the best ways using which you can easily reduce the cart abandonment rate. Keep reading!
Here are some of the best ways you can follow to decrease the abandonment of shopping carts by customers while shopping on your E-commerce website.
Keep Multiple Payment Options
Most customers do not complete the transaction because they cannot find a suitable payment option as per their preference. Due to this, they often switch to some other shopping site and buy the same product from there. But you can easily avoid it by providing multiple payment options on your site. Some of the most common ones are PayPal, Stripe, Neteller, Skrill, and credit cards. You can also include third-party payment services.
Even though online payment is highly preferred by shoppers these days, some like sticking to the traditional mode of payment, which is paying with cash. Hence, make sure you also keep the cash on delivery option available if possible. Even new customers who are not sure about buying from your platform will be prompted to buy if you allow COD.
Exclude Shipping Charges
Nobody likes to pay shipping charges after adding their favorite item to the cart. Moreover, if the shipping charge exceeds the product’s original price, it is even more disappointing. High shipping prices can often be a reason for customers to abandon their carts.
We understand that shipping a product includes several expenses, and hence, providing free shipping for all products is not possible. But here are a few solutions following which you can keep the customers impressed:
Try to add the shipping charge to the price of the product. For instance, if you are charging $2 for shipping, add it to the product’s original price. If it is $30, make it $32. In doing so, you make the customer feel that they are just paying for the product and there are no shipping charges.
If you are selling products that have a fixed price, such as cosmetics and grocery, you can keep the shipping charges as it is. You will see that some customers choose to buy the product despite the shipping charges, whereas a few will abandon the cart. Now, you can send a new coupon only to those customers who abandoned their cart items. They can opt for free delivery or an extra discount using the coupon.
If you want to gain more loyal customers and are happy with little profit, you can exclude shipping charges altogether. This will give you better profits in the long run as the customers will choose you again and again because of free delivery.
Besides free delivery, you should also have a free return and free exchange policy for at least a week after the product has been delivered. This will help you become a more trustworthy shopping brand in the market.
As you might already know, new customers are often unsure about making purchases from a brand new website. They fear getting scammed off of their money, and hence, they like sticking to their old shopping platforms. But this problem can be solved if a trust seal reflects on your website. A trust seal is given by a renowned authority that analyses the platform and gives the trust badge if everything looks fine. Many such companies in the market offer a trust seal. Choose the one that is popular in your country. The usual popular trust seal choices that most customers rely on include Google, the Norton Seal, PayPal, GeoTrust, the McAfee seal, and Better Business Bureau.
Allow Guest Checkout
We know how important it is for a business to get new member accounts. But at times, the customers are either skeptical about creating an account on a new platform or simply too busy. In that case, a guest checkout helps a lot. It allows the customer to purchase from your site without creating an account. Of course, after they are done buying, you can ask them to create an account. But even if they don’t, you sold something at least!
Keep the Checkout Process User-Friendly
A complicated checkout process, where the customer has to do many things before making the purchase, can be tedious. So, please try and keep the checkout process easy and manageable. Also, make sure the interface of the site is easy to understand. You don’t want to scare the customer away by creating a website that is too hard to use.
Using a progress indicator in an eCommerce platform is also great. It helps the customer track their progress while making the purchase, motivating them to reach the end of the transaction after completing just a few steps.
Conclusion
We hope our solutions help you effectively reduce the cart abandonment rate and get better sales than before. At times, the reason for cart abandonment is also because the seller is selling faulty or unattractive products. Hence, make sure you also check the quality of the products before hosting them on your eCommerce platform.
Reducing the cart abandonment rate will take time, but you will be able to do it easily with the right techniques and a little patience. So, what techniques will you use for reducing the cart abandonment rate? We are excited to know!
FAQs
What is the shopping cart abandonment rate?
The Shopping Cart Abandonment Rate is the percentage of online shoppers who add items to a shopping cart but then abandon the purchase.
Why does cart abandonment happen?
Shopping cart abandonment can happen due to following reasons:
High shipping charges
Unavailability of preferred Payment options
Purchasing is not allowed without an account
How to reduce the shopping cart abandonment rate?
Things to consider to reduce the shopping cart abandonment rate are:
India has the world’s second-largest internet user population, with more than 350 million users connected and counting. According to the reports of Statista analysis, roughly 71 percent of these users come from small, lower-tier cities. This figure is unsurprisingly appealing and thanks to increased awareness and information access, these people are the next set of consumers. But how can one organization get in touch with them in the most efficient way?
ShareChat, India’s own social media platform, seems to have succeeded in finding the answer and showcases its regional skills. It is one of a kind platform that supports 15 Indian languages and dialects but not English. It strives to provide a welcome place on the internet for individuals to communicate their ideas, thoughts, and emotions without any language barrier, not just for those who want to use this space in their mother tongue but also for those who are new to the internet.
Users can exchange films, jokes, songs, and other language-based with other users via the company’s app, which includes private messaging, tagging, and personal messaging options.
ShareChat engages with local brands with local languages and also helps esteemed and established brands reach a wider audience. At such times, when brands are trying their best to keep customers busy in meaningful ways, sharing chat helped them discover that paying attention to local issues and communicating in local dialects is a big help in fixing the gap.
ShareChat does not ask its users to pay any money to use the platform. It earns revenue from Advertisements, financial transactions, and sponsored campaigns.
Key Marketing Strategies of ShareChat
Targeting the Language-based Audience
ShareChat approximately has 60 million active users per month and supports around 15 Indian languages. It is an apparent appeal for advertisements as an average user spends about half an hour per day on the ShareChat app. Brands are interested in partnering with ShareChat not only because it offers advertising solutions, but also integrates unique capabilities to help them achieve optimal reach.
ShareChat assists local businesses to reach out to a much more language-specific audience and also addresses a wider issue that global businesses face when they attempt to engage individuals in tiny areas.
Any brand that engages with ShareChat does so intending to leverage the app’s success among language-based internet users and connect better with localized audiences. ShareChat allows well-established brands to strike down their ideas and campaigns and build them according to regional values and flavours.
It has received support from many social media apps worldwide and has taken measures to reach out to a more wide audience.
ShareChat uses Appnext Recommendation Engine to reach its target audience. Appnext is a pioneer that provides app suggestions to mobile phone users. Customers are guided by app next via their suffocatingly packed app stores.
The platform provides users with individualized suggestions for apps. With their collaboration with Appnext, ShareChat’s daily activity has increased significantly allowing users to find a ShareChat that provides easy content discovery through on device and in device app placements to its users.
ShareChat is mining the market and audience in small cities, similar to what Tiktok once did in India when it wasn’t banned. According to the reports of “App Annie”, a worldwide analytics and market intelligence organization, India ranks number one in terms of downloading apps. India’s downloads increased by 190%, between 2016 to 2019, the greatest rise around the Globe. In comparison, global downloads saw an increase of only 45 percent, while China, which ranks second climbed at half the rate, increasing by 80%.
Covid-19 Marketing Strategy of ShareChat
Striking down even further, for the vast majority of potential downloaders; the internet is an entertainment zone, and time spent on such apps increased by 80% in India between the year 2017 to 2019. This data tells us a tale.
In these times of uncertainty, it takes on greater importance. According to a survey by BARC India and Nielsen on digital consumption, India’s average mobile phone usage is approaching nearly four hours per day which is a 12.5% increase from the pre-COVID period.
This has been a brilliant opportunity for ShareChat, which moved to make sure that verified information is visible at the head of its feed, prioritizing COVID fact check related content in more than 13 local languages and also increasing the promoting of law and government accounts over its platform. ShareChat also aims to build partnerships with various organizations.
This leading platform is expanding its avenues, both advertising and revenue and they’re also seeking a balance between the user experience and the business.
Unique Features of ShareChat Marketing Strategy
ShareChat is also testing a new ad strategy called splash entries, which is described as the first thing a user sees when they tap the app icon; a vertical ad that is up to 4 seconds and cannot be skipped. The ad appears as the initial post and blends with the user feed, one hundred percent and twice the impressions are all guaranteed with this stunning entry. It also has recently launched a 360-degree solution which is called Divas.
The platform is based on powerful AI potentiality that relies on first-party user data to ensure that users see only the content that they want which increases in-app usage time.
ShareChat is also introducing ShareChat TV, which will be the ideal space for long-term content and commercials, giving advertisers new ways to reach their desired audiences. The platform is also planning to launch the ADs platform which is currently in its beta phase, which will allow brands and advertisement agencies to set up, monitor, and target the campaigns on their own.
ShareChat’s popularity and profitability are drawing good investment as well. The platform was part of 100 million dollars funding led by Twitter. According to reports from a Zinnov, 81 percent of tier-2 and 80 percent of tier-3 people prefer to consume content on their mobile phones, and ShareChat has a wide range of content, including love, entertainment, and outstanding user-created content, it is safe to say that the app has direct access to India’s heart, with over 160 million users and increasing day by day.
FAQs
What is the marketing strategy employed by ShareChat?
ShareChat uses Appnext Recommendation Engine to reach its desired target audience.
Who is the founder of ShareChat?
Ankush Sachdeva, Farid Ahsan, and Bhanu Singh are the founders of ShareChat.
The way people shop has changed as a result of e-commerce. Almost everyone who aims to grow their business look to do so through e-commerce. But did it ever cross your mind to consider marketing through social media? Meesho introduced that resale concept. It’s the very first to allow users to sell via social media platforms that nearly everybody uses.
Meesho is a social e-commerce firm based in Bangalore, India. It was formed in December 2015 by IIT Delhi graduates Vidit Aatrey and Sanjeev Barnwal. It provides small businesses with a platform where they can sell their items to consumers and resellers who can resale products using social media platforms like Whatsapp, Facebook, and Instagram. It became the first Indian application to be ever funded by Facebook.
Meesho has assisted several such businesses in developing their own identities over the last five years since its launch. This platform allows you to establish your businesses with no money down. So if you’re looking to make a real effective income, we brought you some tips and procedures to market your product on Meesho.
Registering on the Meesho seller panel is simple and quick. Meesho enables small enterprises and self-employed people to create an online business utilizing social media platforms. Meesho allows its users to select products from a variety of vendors and resale them in exchange for a commission. Customers are unaware of this procedure, and users are paid a commission on everything sold through Meesho.
Users are the holder of the company. They may set the selling price as well as the profit margin. Resellers can place orders on behalf of customers once the contract is finalized. Customers will be able to see resellers’ addresses and business names when they receive the order. It displays the address and company name from where the order was placed. As a result, users can name their companies. Meesho users are referred to as resellers rather than sellers or vendors.
The process is very simple for users if they want to register on Meesho and become a seller. The product will be listed and resellers will sell them. The users only need to list the products and the Meesho delivery staff will take care of the rest.
Step by Step Registration Process for Meesho Reseller
Users who have already signed up on Meesho can straight up login to the Meesho seller page. Follow the steps listed below to register as a Meesho seller to establish your own business:
Step 1: Registration and Listing of Products
PAN Card, GST number, and a Business Account are required to register as a Meesho seller. If you are a supplier interested in joining Meesho Seller Panel, go to the official website and fill out the application. You can list your products on the app if you are a seller.
Even if you don’t have a business but want to start one, you can also become a reseller. You just need to choose a catalogue and post it on social media, with product images and information such as size, colour and expected delivery date.
Step 2: Start getting orders
Once the catalogues are available on the application, resellers can share them with their clients via social media sites such as Whatsapp, Facebook, etc., and can start receiving orders instantly. Because of more traffic on social media these days, potential clients are abundant.
Meesho Catalogue
Placing the order on Meesho is a breeze. Add the product to the cart, fill in the customer’s shipping and billing details, and provide the name and phone number of the business that you want the client to see when they get the order.
Step 3: Product Delivery
Meesho sends you an email and also notifies supplier panels when an order is received. Its officials come to pick up orders once it’s been placed. The seller just needs to keep the order packed and ready and not be concerned about order delivery. Their delivery service is extremely secure and orders are received safely and no shipping costs are charged.
Step 4: Payments
Payment options include both online and offline modes. On the 15th day after the order purchased is delivered, payments, including COD orders, are transferred into your account. The payment details are available to see on the Meesho seller panel. Also, if a payment issue arises, Meesho seller assistance assists sellers and resellers to resolve their issues.
Follow the trends. List the products that are trending in the market to get more orders and hence increase revenue.
The more catalogues you upload, the better your chances are of receiving orders. One usually needs 4-5 catalogues to get orders on Meesho.
Set the pricing in such a way that the reseller has ample space to set up their margin. The more margin room there is, the more shares the catalogues will receive.
Try to always use the Next Day order dispatch option which compels suppliers to ship orders the next business day after receiving them. This assists in increasing the number of orders.
You can gain more visibility and attract more customers by creating sponsored ads on Meesho.
What Makes Meesho a Sellers’ Favourite Choice?
Low Commission Rate
With less than 1.8 percent, Meesho maintains the lowest commission in the entire industry. Sellers are also advised on what to sell and at what rates.
All-encompassing Hub
Meesho is an ideal space for small to medium-sized businesses, both branded and unbranded sellers looking to boost earnings offer better costs to resellers.
Easy to Operate
Meesho makes listing products very simple, with fast and secure transactions and no shipping charges.
What Makes Meesho Unique?
Meesho pioneered the notion of social media-based marketing, which is what makes it different from other platforms. There are over one crore resellers on the “Meesho Seller Panel”. Meesho has well-known clothes, home, kitchen, and other lifestyle accessories catalogues.
Conclusion
Meesho is a perfect platform for small enterprises and individuals to open their shops and perhaps earn good money. This is a platform that allows people to earn money very easily from the comfort of their homes. It is the first-ever startup distribution channel in India to receive funding from Facebook and this in itself makes it one of a kind and a trustworthy place.
FAQs
How do I promote my products on Meesho?
You can advertise your products on Meesho by running ad campaigns on the app.
Is selling on Meesho profitable?
Yes, selling on Meesho is profitable as the platform charges 0% commission and delivery is handled by the company itself.
Can I sell my product on Meesho?
Yes, anyone can sell their products in Meesho, just select the product you want to sell from the Meesho catalogue and start selling by sharing the product on your WhatsApp or social media platforms.
Google tends to update its search algorithms almost every day. Approximately, these changes happen 500-600 times a year. These changes may or may not bring a significant impact.
In case of significant changes, it can make people update the way of writing for SEO. The main aim of such changes is to help the people to get as appropriate a response to their questioning as possible.
Be it bloggers, marketers, corporations, everyone understands the value and importance of appearing on the first page of google. To appear on the first page is not very easy as there are so many websites that are present over the internet.
In order to be on top, different strategies need to be applied. These include adding keywords, quality content, adding links, and more. But sometimes, people tend to use unfair methods to be on top.
Google has its own guidelines that should not get hampered. So, if any sites disrupt its basic guidelines, then Google’s algorithms might issue penalties for that.
Yet, it is not impossible to fix a penalty. With some actions and patience, you can deal with it.
In simple terms, it means punishment imposed by Google on the site whose content happens to be at odds with its marketing standards.
Google has its ranking algorithm that keeps on updating. So, when it suggests that a site has used Black Hat SEO, it automatically issues a penalty. Black Hat SEO is using invisible text, private network links, and more. This means making a site rank higher with unfair means.
Thus, it is an action taken by Google against any website that violates its guidelines or standards.
About Google Penalty
How Does a Google Penalty Hit?
Google Penalties can hit your site in two ways:
Google Penalties Can Be Hit Manually
It is a penalty imposed by an analyst that is an employee of Google. It is applied when the analyst finds that a site is not in accordance with the guidelines of Google.
To know if you have been hit by it, go to the Google search console. You probably have got a notification regarding the penalty that led to the decline of your site’s traffic and rank.
Google Penalties Can Hit Algorithmically
It is a penalty that happens because of an update in the algorithms of Google. It happens due to the impression of Black Hat SEO on a website or its page.
To know if you have been hit by it, you will need to compare the time when you lost your organic traffic with the date and time when a new update of the algorithm happened. You can check the update history of Google algorithms for this.
Sometimes to rank a site higher in a quick way, people resort to deceitful means. They put unnecessary private links, keywords, and invisible texts. But while doing so they often forget that they might be smart but Google is indeed smarter.
Google has its own standards and guidelines and it doesn’t tolerate when a site defies it. So, as a punishment, it issues penalties.
Here are some of the basic penalties that might happen to you along with their fixation:
Link Scheming
Creating quality links is an important part of search engine optimization. It helps to increase the page rank of your site. There are certain people that use artificial links in their link profile. Google does not support the use of such links and thus, imposes a penalty for link schemes.
Fix
If you got hit by a manual penalty on your site, you can get a list of problematic links through the Search console (It is a web service by Google that allows you to measure search rate, traffic of your site, fix errors, and more). You can also use tools like Moz Pro, Monitor Baclinks, etc. to gain a complete list.
After getting the list, you need to analyze every single backlink. Then, remove all the problematic links that you find from your site. You might not be able to remove every link on your own. So, you will need to contact the owner of those links through emails to get them removed.
Next up you will need to use Google’s disavow tool to inform Google about the artificial links. Then use submit a file to Google Search Console along with the links you want to disavow.
WIDGET: leadform | CAMPAIGN: Link Building
Thin and Duplicate Content
It means having too little or irrelevant content on the page. Such pages are seen as the ones of low quality. Duplicating simply means copied content. It means copying the entire content from a site and putting it on your own without changes or bringing more worth.
Fix
When the penalty hits your site, for this reason, the simplest and best thing you should do is to discard the pages affected. However, if such pages are valuable to you, and you cannot delete them then you need to include better content in them to make them valuable. You can use SEMrush to identify duplicate content.
Once you address the thin content after that you need to use the reconsideration request tool present in Google Search Console to request reconsideration from Google.
Remember to amend all the content before requesting reconsideration.
Keyword Stuffing or Hidden Text
It is a technique of search engine optimization considered as webspam. So, it is basically a part of Black Hat SEO. It means the process of loading a webpage with unnecessary keywords to exploit the site’s ranking in search results. Hidden text is adding unnecessary white or number 0 font to fill up the content.
Fix
In case of this penalty, you need to remove all the spam keywords or hidden texts on your site. After removing them, submit an indexing request. You can use the fetch and render tool of Search Console for this. This will help you to make Google revisit your website after the changes are the revision.
Masking or Redirects
It means showing different web pages to the users and Google. In redirects, one web page is shown to Google but when a person opens the page, it redirects to another page. This is against the guidelines of Google. This penalty can affect a few pages of a site or even the entire website.
Fix
Examine your site and find the links that redirect. It occurs when URLs are replaced by redirect links. After correcting this, you need to file a reconsideration request so that the Google webmasters can review your site and lift the penalty.
In all these cases of filing a reconsideration request, always remember to include everything that you did to rectify your mistake. Keep track of every activity you performed on your way. It should include how you solved the mistakes and you will ensure that such mistakes would not happen again.
When it comes to algorithm penalties, the reconsideration requests cannot help. Since these penalties happen on their own because of the updates, it does not involve analysts of Google to lift them up.
Fix
Visibility index chart of the SISTRIX toolbox with activated event pins can be used. It will help you to find out if your domain has been hit by a filter. This will give you the hint that you might have been hit by an algorithm penalty.
In this case, the best thing you can do is rectify all the issues that you find might be hampering your traffic or ranking. Changes should be made in a way that the filters no more find any breach of the guidelines of Google. After that, you can wait for Google as it reindexes and recrawls your site.
This penalty thus, cannot be removed manually but it can only be removed by an algorithm.
Conclusion
If you use bad SEO practices on purpose or even unintentionally, it can lead you to get hit by a penalty. Google’s penalty can create a great deal of damage to any site. It can lead to a sudden decline in organic traffic and ranking. In cases of companies’ sites, it can also lead to a decline in their revenue.
It is always better to avoid using any unfair practices to increase the ranking and respect the guidelines set by Google. Also, you can keep a regular check on your site’s activities and solve any problems when you find them. After all, prevention is better than a cure.
FAQs
What are the factors when Google Penalties are issued?
Google penalties are issued for:
Link Scheming
Thin and Duplicate Content
Keyword Stuffing or Hidden Text
Masking or Redirects
Algorithm Penalty
What is Google penalty for keyword stuffing?
Google penalizes your website if they find keyword stuffing. The webpage could be demoted in rankings, or even removed altogether.
What are the tools to check duplicate content on your webpage?
Do you feel that your business and sales processes are falling short somewhere?
If your marketing efforts are proving insufficient results for lead capture and generation, it’s possible that your sales processes are faulty. The process of converting awareness into action is slow and can lose many potential customers.
Even if you start from scratch, the growth of your business doesn’t come from putting in endless working hours alone. One of the most effective tools to build a reliable revenue stream is a sales pipeline.
What Is a Sales Pipeline?
Sales Pipeline is not just another buzzword!
You must have heard about the ‘Sales pipeline’ in the meetings or conversations. It’s not just jargon but an effective system that can change the game for your sales figures. A sales pipeline is a visual representation of opportunities in different phases of the sales process.
Sales Pipeline
It presents a clear outline of prospects, leaks, and loopholes in your sales process. A well-defined sales pipeline educates the salesperson about what step comes ahead and how to go around it. It also gives valuable insights to the managers and helps in decision making.
Sales pipelines give way to:
Insights into financial metrics.
Accurate assessment of team performance.
Preview of monthly revenue.
Now let’s look at how to build a sales pipeline for lead generation
Identify the Potential Buyers and Place Them in the Right Stage
Consolidating all your potential buyers is the first step in establishing a sales pipeline. It is important to ascertain that your prospective customers are placed in the right deal stages based on their affiliation with your product or service.
When a potential buyer has contacted you to know more about your product or service, he is in the ‘interaction phase’.
Placing your prospective customers in the right compartment helps you deal with them most effectively. You can approach them accordingly and convert the lead into business.
Segregate and Assign the Sales Activities
Knowing which phase your potential customers belong to can lay out a clear set of sales activities.
Suppose you know your possible buyer belongs to the ‘awareness’ phase where the information flow is the most important. In that case, You will send out emails, brochures, and catalogues to them or target them through infographics and interactive quizzes.
In short, you know what to do and how to take them to the next stage. This way, your salesforce also has clarity on performing the task in the best way possible. Assigning sales activities to each stage of the sales pipeline is crucial for enhancing the effectiveness of sales efforts and the efficiency of the salesforce.
Define the Sales Cycle Length
Your lead source is the biggest factor in defining the length of your sales cycle. How quickly you close the sales depends on the channel through which you approach the potential customer.
Leads generated through emails or calls will have slow sales cycles. Organic leads achieved through websites have a quicker sales cycle.
The above makes it crucial to define the sales cycle length by streamlining various lead sources. If you have a sales cycle defined, it would be easy to know which deal would convert into action and which one has become useless for the business.
Ascertain Your Pipeline Size
If one of your sales representatives targets 50 deals a month and loses 10-12 of them in the sales process, you may raise the bar and give him a target of 70 deals instead.
That’s how you decide the size of your pipeline and meet your target sales for the month. There is no doubt that not all the leads make it to the end of the pipeline. The contingency plan is simple. Start with extra deals so that any leak along the way does not hamper your sales target.
Take Out the Inactive Leads
If certain deals have gotten stagnant, there’s no point waiting for them to convert because the chances of winning such deals are very low. If a deal has gone past its sales cycle, there is no point in wasting sales efforts or campaigns on it.
It is important to know when to stop putting marketing efforts!
One of the effective ways to keep a tab on stagnant leads is to have a specialized software or AI tool that can notify you about deals that aren’t moving to the next stage. It will help you clear the space and make way for new leads.
Timely Review of Sales Pipeline Metrics
Even after establishing an efficient sales pipeline, there is no way to predict the exact outcome. Sales activities change, targets change and with that, strategy changes. A timely review will allow your team to make the necessary changes and bring in more leads to compensate for any lag in the plan.
Businesses that put effort into knowing what their customers want succeed in converting leads into purchases. From awareness to action, it’s a journey for buyers and an open opportunity for you to retain them at any given stage. Sales pipelines provide the perfect set-up for managers for ascertaining the success of sales campaigns and marketing efforts.
FAQs
What is a sales lead pipeline?
A sales lead pipeline is a representation of prospects in different phases of the sales process.
How do you build a lead pipeline?
Identify the potential buyers, assign sales activities, define sales cycle length, remove inactive leads, and constantly update your sales timeline.
What is a lead in sales?
A lead in sales is a person or a business who might become your future customer or client.
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 College Vidya.
Be it humans or Industries, evolution is an undeniable fact for all. Every industry is seeing major changes with time, as for the education industry, the base industry for all, this evolution is an ongoing process. This is happening at a higher pace with the introduction of online education, or as some call it, virtual learning.
With evolution, comes questions and confusions. While more and more students are getting attracted towards online education due to its growing importance, more questions are being raised on how to spot fake online universities, things to look at before selecting an online university, important approvals, comparison among two universities on the basis of placements, Student Ratings etc and many such questions.
To rescue students from such problems a venture was started, College Vidya. It is an initiative to help students by giving them answers to all these questions at an unbiased education platform, fully dedicated to online universities. This platform contains every bit of information a student will require in order to make the right decision.
College Vidya was started in the year 2018, under the Parent company Blackboard Education and Research Foundation. It started as an informative educational portal. With time it recognized real problems faced by students, this inspired it to become a comparison platform. One might ask why a comparison portal? Because the vision of College Vidya was clear, they wanted students to get the best university for their career.
To educate a lot of students, College Vidya also started a youtube channel named, “College Vidya”. This channel purely gives information of different online & distance and online universities, courses, common mistakes made by students, things to look at before selecting any online university, advice given by experts and topics as such.
After gaining over 6k followers College Vidya spread its empire by starting yet another youtube channel by the name of “College Vidya Talks”. This Channel was started with the vision of offering knowledge to students which will help them in their career journey as well. For the same purpose this channel is divided in 3 sections:
2nd section gives honest university reviews of online universities.
3rd section shows pros and cons of different universities by comparing the two.
College Vidya has adopted a ‘master of one’ approach, meaning they are only dedicated to universities providing online education. The venture takes pride in being unbiased and working for students, instead of universities.
College Vidya – Founders and Team
College Vidya was founded in 2018 by Mr. Mayank Gupta.
Mayank Gupta – Founder and CEO of College Vidya
Mayank Gupta – Founder and CEO of College Vidya
‘Tough journey leads to a beautiful destination’ this saying perfectly goes hand in hand for College Vidya founder Mayank Gupta, Mayank had an interesting journey, he started by working in an organisation where his responsibility was to conduct surveys. After a period of time he realised his interest lies in the educational sector so he bought a franchise of NIIT.
After understanding the industry better, Mayank decided to do something of his own, so he opened ICFE, an institution which offered students accounting courses. His venture saw enormous growth and success, until the government decided to give the same courses for free.
After facing many hardships Mayank decided to be true to the distance & online education sector. The reason behind Mayank being inclined towards distance & online education was that he himself pursued his undergraduate and post graduation from distance while working.
Rohit Gupta – Co-founder and COO of College Vidya
Rohit Gupta, Co-founder of College Vidya saw his part in hardships too. Starting as an educational counsellor, he paved his way through. From being one to having thousands of counsellors working under him, Rohit is a true inspiration story.
Throughout his journey Rohit worked in different industries, playing different roles. This only made him realise his true purpose and the need of the hour in the education sector.
College Vidya – Startup Story
College Vidya startup story is rather interesting. As Mayank himself pursued his higher education from distance learning, he knew about the struggles that come with it. He wanted to give students a platform which not only helps students by giving them correct information but also assists them.
From the start Mayank was aware about the importance of distance & online education. With the concept of online education being introduced, he knew what was coming in the future, evolution. Mayank was well aware about the importance of online education, and how it would grow exponentially in the future. This is when College Vidya came into picture, he wanted students to have a trusted and unbiased ed tech portal to turn to in their time of need.
The name College Vidya, explains it all. It simply means ‘Knowledge about College’ which clearly states that this educational platform gives all the information about online colleges and universities.
The tagline of the company is ‘Chuno Wahi Jo Hai Sahi’.
College Vidya – Vision and Mission
From the very start the vision of College Vidya was to be an unbiased platform that helps students in getting genuine advice for free.
Mayank Gupta firmly believes that the youth has the power for bringing changes required, and education is the key to do so. A student with no proper guidance has higher chances of making a wrong decision and regretting it later. This is why the mission of College Vidya is to help more and more students in making the right decision when it comes to their education.
College Vidya – Counsellors
As of now College Vidya consists of 1000+ highly educated and experienced experts. This strength is made up of Assistance Managers, team leaders and many Counsellors available on call & video call for students.
College Vidya – Challenges
During this interesting journey, College Vidya faced many problems as well. These problems were faced while building trust and standing apart. Due to so many portals that were unable to maintain trust, students were very skeptical at first. When College Vidya was introduced it took a lot of time and hard work of its team to gain and maintain the trust of students.
College Vidya – USP
How College Vidya works?
The reason why College Vidya stands apart from the rest is, its unique features. Compare and suggest me a university.
Compare – this feature allows students to compare between top online universities on different features. The motive behind this is to help students in selecting a university which best suits them according to their own specific needs like budget, study hours available, purpose behind doing a degree etc.
College Vidya has carefully designed a list of top online universities all around India (Approved by UGC-DEB), this helps students to explore more options and decide which of these universities are catering to their needs.
Suggest me a University – with the AI based technology, College Vidya’s Suggest me a University feature gives a specially curated list of universities, according to students need, after analysing their answers. Suggest me a University is the best option for those students who want to remain hassle free and just want to know the best option for them.
Video Consultation – this feature allows students to connect F2F with their counsellor, in seconds for a better counselling session. The motive behind introducing video consultation was to improve user experience and make them feel present and more connected with their dedicated counsellor.
The major USP of College Vidya is that it saves students from the hassle of going through hundred different websites and sources to gather information. It is an all inclusive portal which has answers to every question a student can possibly have in making this irreversible decision.
College Vidya has adopted a simple yet effective marketing strategy through “the word of mouth.” They stand unbiased and only promote information that is true and helpful for students without any partiality.
They also try to build a healthy relationship with their audiences through other mediums like blogs, videos, google ads, social media marketing & even remarketing.
Recently College Vidya also launched its campaign “Chuno Wahi Jo Hai Sahi”. The aim of this campaign was to make students aware about the importance of selecting the right university after carefully comparing different aspects like approvals, budget and interest.
The marketing strategy of College Vidya is not only limited to the virtual world, the organization has also stepped outside to educate the population of tier 2 and tier 3 cities about the growing importance of online education and how to select the best for them at an affordable price.
In a short period of time College Vidya received a great response from students and working professionals. According to the CEO of College Vidya, the next step would be to expand by providing more information about online and distance & online universities around the globe.
Soon, students who wish to study abroad will also be able to compare and select the best online university for them along with free expert guidance.
FAQs
Who is the founder of College Vidya?
College Vidya was Founded by Mayank Gupta.
Is College Vidya Free of Cost?
Yes, College Vidya is absolutely free and does not charge a single penny. They also do not have a bank account.
Gurgaon, aka Gurugram, is counted amongst the financial and technological hubs of India. As much as the city is famous for its nightlife, it is popular for the corporate offices of MNCs and conglomerates; Nearly every major corporation has an estabishment in the city. Gurgaon also has the third highest per-capita income in India, the presence of various brands and businesses there being a major factor. What people aren’t aware of is the fact that Gurgaon while being home to already established businesses has contributed significantly to the Indian entrepreneurial ecosystem—some popular startups were incubated in this city. Time to have a look at a few of those startup companies in Gurgaon.
Founders: Abhiraj Bhal, Raghav Chandra, and Varun Khaitan Founded: 2014
UrbanClap Logo | Gurgaon Startups
UrbanClap is a marketplace for finding verified professionals to get your tasks done without any hassles and head-banging. From wedding planners to divorce lawyers, one can choose professionals from 100+ categories. The company claims to have over 100,000 verified professionals that span across both quality and quantity; you aren’t going to find shortage of qualified professionals. It is available in 10 cities across India and has spread wings to deal in Dubai as well. With over 100 live services and more than a million satisfied customers, UrbanClap tops the list of Gurgaon based startups.
Silversparro Technologies has come out with SparroSense, an AI-powered Supervisor for Manufacturing, Heavy Industry, and large facilities. Sparrosense Video Analytics Platform can help clients analyze their CCTV footage for monitoring people. The platform can be integrated with existing CCTV infrastructure. The processing of the videos usually takes place on the edge or the cloud. The business results are delivered on a dashboard through alerts to make sure each solution delivers an impact on the business. It is useful to detect inefficiencies, raise alerts, monitor productivity to increase capacity utilization directly from increasing revenues. The SparroSense suite is used and recommended by leading steel, metal, and auto industries across India and US.
Rivigo
Founders: Deepak Garg and Gazal Kalra Founded: 2014
Rivigo Logo | Gurgaon Startups
Rivigo is a technology major formed in 2014, building the material movement pipeline of India. It focuses on making logistics faster, safer and cost-effective through excellence in technology, data, culture, and operations. It services multiple industries that includes, but is not limited to, e-commerce, automotive, and FMCG. Rivigo is an up and coming logistics startup from Gurgaon.
Rivigo strives to improve job prospects for the truck drivers and help them move up in the economic pyramid.
Lybrate
Founders: Sauraubh Arora and Rahul Narang Founded: 2013
Lybrate Logo | Gurgaon Startups
Lybrate bringsonline consultation from doctors to patients. You can have an on-call session to for one-on-one interaction with medical specialists. There’s even the facility to communicate anonymously for these sessions. Lybrate’s aim is to create a one-spot destination where doctors can grow their practice by increasing patient outreach across the country and help the users get quick, quality medical advice without having to break a sweat by physical visits to clinics/hospitals. This has the capacity to become one of the top medical startups in Gurgaon.
Founders: Neeraj Kakkar, James Nutall, Suhas Misra, and Neeraj Biyani Founded: 2013
PaperBoat Logo | Gurgaon Startups
PaperBoat is India’s fastest-growing consumer brand selling different Indian beverages and foods such as Aam Panna, Jaljeera, chikki among others. PaperBoat juice has distributors all over the country. However, it does utilize single use packaging. In August 2019, PaperBoat came together with Tetra Pack to introduce holographic packaging for two of its variants Alphonso Aamras and Pomegranate juice. This new packaging will not only look appealing to the consumer but is also easy to hold to provide the consumers a comfortable drinking experience. The company counts Narayan Murthy as one of its investors. It is without a doubt one of the top startups in gurgaon.
Shiprocket
Founders: Sahil Goel, Gautam kapoor, and Vishesh Khurana Founded: 2012
Shiprocket Logo | Gurgaon Startups
Kartrocket is Now Shiprocket 360. ShipRocket is a DIY eCommerce solutionin Gurgaon that enables you to create an online store, design, and customize it in less than 10 minutes. Aside from building websites, the company provides end to end e-commerce solutions with all the features you require to run your business: free payment gateway integration, a mobile app to manage your store, and automated shipping solutions. Founded in 2012, ShipRocket has given wings to more than 3000+ store owners across India.
OnlineTyari
Founders: Bhola Meena, Udai Meena, and Vipin Agarwal Founded: 2014
OnlineTyari Logo | Gurgaon Startups
It is a web and mobile app platform providing a comprehensive solution for online preparation of different competitive exams.OnlineTyari provide authentic and up to date study materials crafted through partnerships with the best coaching institutes, independent tutors, and publishers.
It is a one-stop platform to buy genuine organic products for beauty and personal care. Vanity Wagon ensures that the products included in the platform are toxin free, harmful chemical free, cruelty-free and completely safe. Vanity Wagon operates out of Gurgaon (Corporate Office) and warehouses at present in Delhi With revenue growth of 100% month on month, the company is destined towards great success in the long term. It is definitely one of the best companies in gurgaon when it comes to clean beauty.
CoHo
Founders: Uday Lakkar and Amber Sajid Founded: 2015
CoHo Logo| Gurgaon Startups
CoHo is India’s first chain of “co-living” space. It stands for Comfortable Houses. The company has created a vibrant network of fully-furnished rental accommodations with utility services, an online concierge, and most importantly, an out-of-the-world community living by corralling a bunch of like-minded individuals at the same place. Moreover, if you want to invest in your property, CoHo will help in furnishing your property and assist you in gaining customers. Currently, this co-living startup serves Delhi, Gurgaon, Noida, and Bangalore.
Parkzap
Founders: Pranay Sharma Founded: 2014
Parkzap Logo| Gurgaon Startups
Parking is a major obstacle that hampers trips to shopping malls, restaurants, and other places. To counter this menace, Parkzap has come up with a solution. The Gurgaon based venture locates the nearest, vacant parking spot while allowing you pay for the ticket online. A big headache gone!
MakeMyTrip
Founder: Deep Kalra Founded: 2000
MakeMyTrip Logo| Gurgaon Startups
MakeMyTrip, India’s leading online travel company, was founded in the year 2000. The company provides online travel services including flight tickets, domestic and international holiday packages, hotel reservations, rail, and bus tickets. MakeMyTrip has gone on to become one of the few Indian startup success stories enjoying global attention. MakeMyTrip has international presence through offices in New York, Singapore, Kuala Lumpur, Phuket, Bangkok, and Dubai.
Tripoto
Founders: Anirudh Gupta and Michael Pargal Lyngdoh Founded: 2013
Tripoto Logo | Gurgaon Startups
Many of us are hesitant to make plans until and unless we have gone through extensive reviews and opinions of others. While this dependence on reviews is common in case of watching movies, the same phenomena is witnessed in case of travels as well. We tend to be apprehensive of visiting places and seek suggestions from people who have already visited that spot. If you want to know someone else’s experience of travelling to a particular place, Tripoto is the answer for you. Being aware of the problems and difficulties faced will make you better prepared for your trip. You can also discover travel itineraries, become a travel expert, meet travelers, and publish your own trip experiences.
Founders: Neerav Jain and Saurabh Gupta Founded: 2015
CityFurnish Logo | Gurgaon Startups
CityFurnishprovides products ranging from furniture, furnishings, consumer appliances and fitness equipment on rental subscription. Besides offering high-quality rental products for residential purpose, CityFurnish also has an accelerating presence into the commercial and hospitality segments. The brand is currently servicing cities including Delhi NCR, Bengaluru, Mumbai, and Pune and is now working on expanding to Hyderabad and Chennai.
Axtria
Founders: Jaswinder Chadha and Navi Chadha Founded: 2010
Axtria Logo | Gurgaon Startups
Founded in 2010, Axtria is abig data analytics venture that combines domain knowledge, analytics, and technology to help clients make data-driven decisions for sales, marketing, customer relations, revenue, risk, and supply chain management. The company counts 8 of the top 10 global Life Sciences companies and 2 of the Top 5 global banks as its customers with over more than 1000 employees all around the globe.
RedCarpetUp
Founders: Abhay Tamaria, Kartik Venkataraman, and Sandeep Srinivasa Founded: 2015
RedCarpetUp Logo | Gurgaon Startups
RedCarpetUp provides lending facilities to Indian customers for financing online purchases related to e-commerce, travel, etc. Finance and credit companies are unable to service a vast majority of Indians (about 90%) due to lack of required data. RedCarpetUp claims to have access to this critical data that allows it to service customers who have never taken online credit before. It acquires this information by gaining user consent. Only after the user agrees does it capture and store the data. According to its website, RedCarpetUp believes in “Design for Honesty”—it is thoroughly aware of its accountability to the user, in terms of safeguarding customer data.
Crepe-fe
Founder: Shourrya Sachdeva Founded: 2017
Crepe-fe Logo | Gurgaon Startups
This list has been dominated by Tech startups till now so it’s time to include a venture from a different niche. Crepe-fe serves authentic desserts from around the world. Formed in 2017 , Crepe-fe sells Belgium Waffles, American Bagels, Italian Gelato, and French Crepes. It has mastered the art of serving western breakfast and desserts and plans to open50+ retail stores by 2022across India and at least 3 retail stores aboard. It is the top startup in gurgaon you need to keep an eye out for if you are a foodie!
Geine Technologies
Founder: Founded: 1999
Geine Technologies | IT Company in Gurgaon
Geine Technologies is an IT company in Gurgaon. Geine Technologies provides innovative solutions across all channels of communication. Geine Technologies provides a seamless experience to the end user (customer or partner) over Mobile & Web, in various industries in the following domains:
It works with its clients as a Management Consultancy Partner – To Conceive Innovative Solutions to address their Business Objectives & Problems.
Conclusion
This was StartupTalky’s take on some of the successful Gurgaon based startups. In spite of being a city crowded with MNCs, Gurgaon has provided ground for startups to flourish and stand shoulder to shoulder with the big shots and contribute towards India’s development. If you know about any other startups in Gurgaon that isn’t a part of this list, contact and we would love to feature them in this post!
FAQs
Which are the successful startups in Gurgaon?
Some of the most successful startups in Gurgaon are:
Oyo
Zomato
UrbanClap
Silversparro
Rivigo
Lybrate
PaperBoat
Shiprocket
Policybazaar
Delhivery
Cars24
How many startups are there in Gurgaon?
There are over 100 startups in Gurgaon.
Is Gurugram good for startups?
Gurugram is quite popular for financial and technological businesses and startups.
Which are the best cities in India for startups?
Best cities for startups in India are:
Bangalore
Delhi
Mumbai
Hyderabad
Gurgaon
Pune
Chennai
Kolkata
Which industry is famous in Gurgaon?
Popular industry for startups and business in Gurgaon are:
Our race is incredibly curious about everything, from what’s going on in our own residential neighbourhoods to what’s going on in the rest of the world. From childhood, when we were curious about everything, through maturity, when we wanted to know the solutions to every question, we’ve all been on the lookout for answers to any problem.
Instead of answering subject-related questions in class for the sake of getting good grades on your exams, there’s a show that pays you a lot of money for correctly answering core knowledge questions. Doesn’t it sound amazing that a game show will pay you a million dollars if you answer all of the questions to the end? If not, you can keep the money until you’ve answered all of the questions properly.
That show is called ‘Kaun Banega Crorepati,’ which is hosted by a prominent star, Amitabh Bachchan and has the highest TRP to date among other Indian Reality shows. We all appear out of nowhere to reunite with our family, especially on weekends to watch Kaun Banega Crorepati, right? We all enjoy answering questions and want to know the answer to them.
The show is all about answering questions, and the competitors have presented a total of 16 questions. The ‘Fastest finger Contest’ is the opening round, in which contestants must arrange four answers in seven seconds to progress to the main gameplay. Furthermore, each of the 16 questions has a monetary award associated with it, ranging from 1000 to 3000 to 7 crores for question 16 and four types of lifelines to help you out. You might be wondering how the KBC will get 7 crores to their winners out of nowhere. The answer to your question can be found in this article.
As you can see, the host of the KBC show would list out numerous firm branding as sponsorship before taking a break. These companies are paying a huge sum of money to KBC’s production house to run the show successfully, with 70% of the proceeds going to prize money and the host’s compensation, according to reports.
KBC Sponsors
Hyundai Motor India Limited, Asian Paints Royale Glitz, Ultratech Cement, and Complan are among the title sponsors for the KBC. Co-sponsors include CERA, PharmEasy, IDFC First Bank, LIC of India, and Bharat Matrimony. The Reserve Bank of India is the KBC’s special partner, providing approximately 400 crores in funding.
Telecom Partner
The Telecom industry, which provides approximately 100 crores to the show, is another key sponsor. You might wonder what role a telecom company plays in the program; well, it plays a big role in everything from choosing the participation in the show (by SMSing correct answers to become a contestant for the next KBC episode) to assisting the contestant during the game (by using the network to call the contestant’s helpline).
KBC gets a high rate of sponsors from telecom industries, as the show relies much on public relations. As I previously stated, if the player did not respond to the question, he or she would be given three lifelines. It would be advantageous if a friend’s phone and an audience call were both linked to the cellular network. For instance; Idea Cellular Paid 35 Crore for the show in 2010.
Commercial Breaks
As we all know, ads act as a beneficiary for any type of business, both for the organization and for the audience. You may well have heard that before leaving for a break, the show’s host list-out various sponsored brands like ‘Cadbury-sponsored and co-sponsored by Byju’s.
Furthermore, KBC lasts an hour and a half, during which they air roughly 5-6 commercial breaks. These are the slots in which a company can showcase/telecast its products and services to its target audiences.
Typically, the sponsored brand or any other brand pays a fee to the show in exchange for the show promoting its products during commercial breaks. The above eight advertisers account for 75% of the show’s commercial inventory. The remaining 25% of ad inventory, according to estimates, will be auctioned to spot buyers for over Rs 4 lakh for 10 seconds of an ad.
SMS Revenue
Before participating in the competition, contestants must first answer the questions that have been placed underneath the previous episode’s program. People enjoy getting in and doing their best to answer it by submitting the correct answers to the prescribed or given number.
You may have noticed that a question is posted with the request that viewers answer it and send it to a phone number ‘xxxxxxxx’ below the showtime. Also to register for the show you have to answer a set of questions and KBC charges a small amount to each user sending the SMS which is usually Rs 3/ – per SMS.
Since 2000, Kaun Banega Crorepati has been one of India’s most popular television shows, presently in its 13th season. The Big B, Amitabh Bachchan, hosts this show, in which players are chosen based on their speed in answering a certain question before moving on to the main game.
In the main round, 10-16 questions were answered, with prizes awarded based on the weighting of the questions. The winners receive a monetary award based on the number of questions properly answered via a check, which is credited to the winner’s account in 4-5 business days.
FAQs
Does KBC give full money?
Yes, KBC does provides the full money to the winners and the taxes are paid later on.
How is KBC funded?
KBC receives money from a variety of sources, including the telecommunications network, sponsorship from well-known brands, advertising, and an Internet communication company. KBC earns money mostly from sponsorship from renowned companies such as Byju’s, Cadbury, and Axis Bank. The Reserve Bank of India is a particular sponsor of KBC.
How much does Amitabh Bachchan charge for KBC?
Amitabh Bachchan charges Rs 3.5 crores per episode of KBC.
