The article is contributed by Andesh Bhatti – Angel Investor & Founder of Collectcent.
The investment management sector is witnessing what is perhaps its most volatile moment in history. The investment landscape has changed and changed for good at that.
Investment is no longer an exclusive habit of the rich and powerful, but rather one that’s becoming more widely available as new disruptive technologies make it more and more accessible to the general public. In fact, investment opportunities can now be taken advantage of with the tap of a smartphone because of the rise in demand for digitally facilitated, easy-to-understand financial services.
Although all these new technologies have the potential to revolutionise and improve the investment process, artificial intelligence (AI) is the one that offers the most potential. The technology encompasses a wide range of techniques for simulating human-like intelligence on a machine. For investors who have until now ventured on the precarious investment terrain relying primarily on their gut instincts and personal assessments, artificial intelligence offers a whole slew of opportunities.
Gartner predicts that by 2025, artificial intelligence (AI) and data analytics will be used to inform more than 75% of venture capital (VC) and early-stage investor assessments.
The Inner Voice Conundrum and Its AI Resolution
Investors who succeed in their ventures are often believed to have a sharp intuition. That’s because their capacity to make financial decisions is based on largely qualitative data like management expertise, industry cycles, strength of research and development, and labor relations; only after that is it abetted by the quantitative data provided by the financial specifics of any business. However, it’s difficult to measure an inner voice, especially when that voice is developed largely through personal experience. And, of course, it also does not give a guarantee of success. Consequently, the role it plays in investors taking financial decisions is decreasing.
The AI Answer
Rising data analysis capabilities are fast directing early-stage investing strategies away from personal judgment and qualitative decision making and toward a more sophisticated quantitative process. Data from websites like LinkedIn, Crunchbase, and Glassdoor, as well as third-party data marketplaces, will be a big part of this process. They are already giving rise to sophisticated models that can better identify the feasibility, proposal, and prospective outcome of an investment. The result being that questions like when to invest, where to invest, and how much to invest are on the verge of becoming practically automatic.
But that’s on optimizing the quantitative process alone. AI is also enabling the metrics for measuring success based on qualitative factors.
AI technology is renowned for its capabilities of predicting future behaviour and delivering insights into client preferences. Natural language processing AI that can discern features about an individual from real-time or audio recordings can further be used to generate unique profiles, now with barely any human assistance. Based on job history, field experience, and previous business performance, AI algorithms can soon be utilised to estimate the likelihood of investment success reliant on individuals.
AI can be used in three stages of the investment decision making:
Pre-trade
To find and analyse investment opportunities, analysts devote a large amount of time to gathering, sorting, and organising relevant data. Consequently, a substantial part of their efforts is spent on data that is later found to be of little value.
Natural language processing (NLP) AI can handle a big part of this job, as it can take in large amounts of data from multiple sources, scan for trends and patterns, and then assign a score to each relationship it uncovers. Using these tools can significantly minimise the amount of time analysts spend in this phase, allowing them to focus on data that has the greatest potential for better discoveries.
At the moment of truth
Although it is up to the investor to make buying, selling, or holding choices, NLP AIs can assist in this. Relying on AI results blind sightedly is not what most investors are going to buy into. NLP can help explain the drivers of an AI decision engine and give an unbiased report that explains the decision in detail, including all the countervailing elements. This can further enable managers to deep analyse a trade and approve or reject it.
Post-investment
NLP engines can leverage structured data inputs to create performance attribution reports and periodic investor reviews. The technology has the potential to increase the speed, precision, and cost of creating reports based on the performance and strategy of the investments made.
Conclusion
The use of AI by investment managers is quick reaching a point where it could provide a competitive edge for a long time to come, by enabling better investment possibilities as well as increased operational efficiency. Needless to say, it has the potential to revolutionise the investment decision process, and by relation, the world of growth and innovation.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved bySmartr Logistics.
The size of the Indian logistics market is estimated to grow by 380-400Bn+ by 2025. With the upsurge of technological advancements, logistics startups are also growing their business manifold. As the market is growing, from logistics to e-commerce, the competition has become tough to deliver the customers expectations. Statistics from various sources show that over 60% of customers expect low cost yet fastest delivery.
Fastest delivery has become the logistics trends these days. Smartr Logistics is a mumbai based startup that provides express inter-state delivery.
Read to know about Smartr Logistics, founder, startup story, services offered, and more.
Smartr Logistics (a trademark of Smart Express Pvt. Ltd.) is an express logistics startup that provides a one-stop solution for all logistical requirements. The company aims to provide best-in-class logistical services customized to the needs of the customers. The company wants to break the prevalent myth in the logistics industry that “Quality service comes at a high price”.
Promoted by Mr. Yogesh Dhingra, ex-CFO, COO & CSO of Blue Dart, Smartr Logistics was established by passionate business veterans with a combined experience of over 200 years in the logistics industry. Considering their expertise in the industry, the Smartr Logistics team believes that the start-up has the capacity to reimagine the Indian logistics industry thriving on contemporary technology providing unique solutions in the post-pandemic era.
Smartr Logistics is one of the few players that secured a seed fund of INR 100 crores from the get-go and is determined to establish itself as an industry leader in the coming years.
Smartr Logistics – Industry
Currently, the Indian logistics sector is valued at USD 250-300 billion. The industry is estimated to grow anywhere between 12-15% CAGR to reach USD 380-400Bn+ by 2025.
Smartr logistics aims to be a leading state-of-the-art Indian logistics enterprise venturing into the Air and Surface logistics as well as 3PL, warehousing and fulfilment centres. They are confident that their services will win the trust of customers and partners alike reaching new milestones along the way.
Smartr Logistics – Founders and Team
Yogesh Dhingra is the founder of Smartr Logistics and Arun Nangpal, M.D. Bassapa, Nikhil Kumar Saxena, Utkarsh Sharma are the co-founders.
Yogesh Dhingra acquainted a few talented and curious individuals in his career. They have worked together to grow their previous organizations together. They have started Smartr Logistics with a common goal in mind – quality services at the right price.
With the support of the co-founders Smartr Logistics was smoothly set up.
Smartr Logistics Team
Arun Nangpal, the Chief Human Resource Officer and Chief Customer Experience Officer brings her experience of over 30 years of expertise to the Smartr Logistics team. She is a recipient of several awards like Best Customer Feedback Strategy of the Year’ (2013), by Franchise India, Best Customer Service Professional of the Year’ by National Quality Excellence Awards 2012 among a few. Such rich and well-rounded professional experiences make Arun a formidable force to reckon with.
M.D. Bassapa, the Chief Financial Officer, Head of Procurement & Real Estate is certainly the dynamic force that gives the team a driving spirit. He is a valuable industry veteran with over three decades of experience. At Smartr Logistics he will lead the development and implementation of various financial and business systems and processes.
Nikhil Saxena, the Chief Operating Officer and Head of Security, is an esteemed industry veteran with 35 years of experience. He has been a mentor, a leader, and a visionary. At Smartr Logistics, his incredible business insight and expertise in the first mile, mid mile, and last mile of the operations gives their products and services a competitive edge.
Utkarsh Sharma, Dy. Chief Revenue Officer (North) is an industry elite with 29 years of experience Over the years, he has built his teams with discernment and precision. An integral part of the Smartr Logistics team, his preoccupation with sales management & customer-centricity has resulted in significant revenue growth and sales.
In just four months of commencing operations, the company has onboarded 600+ employees and plans to expand more.
They are committed to keeping their employees happy and wanting to contribute to their journey. At Smartr Logistics, they offered ESOPs not just to the top management, but to the first cohort of employees (over 100 employees) who were hired. They want to give talented individuals a chance to create their wealth and grow along with the company. They won’t leave anyone behind.
Smartr Logistics – The Idea and Startup Story
Yogesh Dhingra entered the logistics industry by joining Blue Dart at a young age. He gained immense experience and knowledge while supporting the founders by helping them grow the company to a market-leading position that it is today. It was a gratifying experience to bring together two household names – DHL and Blue Dart, together and strengthen the position of Blue Dart Aviation in the logistics industry.
He was involved in a much broader spectrum of the logistics & warehousing business; whether it be operations, service quality, security, IT, finance, strategy, or investor relations, He contributed to every segment that needed attention and expertise.
A hands-on experience while managing the ups & downs as a CFO at some of the world’s iconic logistics brands, cemented my vision of doing things more effectively. That’s when he knew he could do more, offer quality services and provide meaningful employment and wealth creation opportunities to the community in my own way.
Years of working in the logistics industry allowed me to have a broader view of what a new age customer would want. He wanted to bridge the gap between customer needs and quality services. With like-minded colleagues and business leaders, he started Smartr Logistics to address those needs and provide unique solutions to real problems.
The team behind Smart Express consists of a set of passionate industry veterans with expertise and valuable insight that drives their business smoothly. Their foundation is based on strong business capability and foresight.
Smartr Logistics – Name, Tagline, and Logo
Smartr Logistics Logo
Echoing the brand name – “Smartr Logistics”, the logo reflects a modern design inspired by the company’s mission to emerge as a tech-enabled multi-modal logistics network.
The logo is made of elements depicting technology & hardware to emphasize the importance of contemporary and new-age tech across all aspects of their company. The visual identity also symbolizes the connection outlining the chain of trust and reliability in the process.
Their taglines showcase the unique features of the product range.
“Never Lose track”, emphasize real-time end-to-end tracking of shipment for customers and “Choose Smartr, Move Smarter”, to simply appeal to their potential customers and stakeholders. They are paving the path for next-gen high-quality logistical services.
Smartr Logistics – Services
Smartr Logistics launched its first set of offerings – the Air Express service called Aerex.
Aerex Prime, Aerex Kargo and Aerex eComm and Intracity are the services a customer can choose from depending on their requirements. These services are designed to cater to multiple requirements ranging from delivering simple items such as gifts or documents to heavy and valuable cargo. They have also started a premium same-day interstate delivery service for select customers.
The unique features and USPs of these services differentiate Smartr Logistics from competitors. Apart from customization, speed, and technology; they consider customer care, transparent and real-time tracking, multiple delivery destinations, digital payment methods as their number one priority. To be on top of the game, they have a 24×7 customer support team available on call.
They believe in transparency and want customers and stakeholders to have full faith in them. Their pricing structure is simple and transparent, and customers pay only for the services used.
In just a few months, Smartr Logistics has expanded its operations to over 45 cities, reaching customers across India. Their goal is to create a strong network to help their customers and enable ease of doing business for India’s big and small businesses.
Additionally, the start-up has a strategic roadmap to launch an array of services including International Express/Freight, Surface Express, LTL/FTL and supply chain solutions (3PL) to support warehousing for B2B and fulfilment centres for B2C e-commerce.
They launched Smartr Logistics with over 65 service centres in 34 cities across India. Needless to say, the first three months were dedicated to intense research & development. We went all out hiring the right talent, setting up offices, selecting their locations, mapping their network throughout the country – all in the middle of a global pandemic.
They also had numerous brainstorming sessions to create and come up with “Smartr Logistics” creating a brand strategy that aligned with their common vision. Although we did not start in a garage or a backyard, the collective expertise of all the team members and founders involved, led to a stable and impactful unveiling of Smartr Logistics. They are everywhere since the inception of the company.
While they are not even a year old – Smartr Logistics has been addressing the gap between customer expectations and the services provided. They are already formulating new products, parallelly understanding the dynamics and requirements of the new – post-pandemic world.
Their services promise to close the gap as much as possible. Speedy delivery is their priority. They have already achieved same-day delivery for a route that would take a day at least for an average logistics provider.
They thrive on delivering excellent services in a transparent manner.
Smartr Logistics – Challenges Faced
Smartr Logistics was established to solve contemporary logistics challenges. The pandemic and the restrictions that came along with it threw in many curve balls and challenges, specifically for the logistics industry. As a new-age company, they have leveraged the opportunity to be tech-enabled and digitally advanced. Dynamics have changed and a new era has emerged, hence, we are on top of their game to deliver high-quality services, every time.
They launched their operations amid global lockdowns and heavy restrictions. The biggest challenge was hiring new talent across cities. With the connections and referrals of the co-founders, they hired 500 trusted employees in a span of four months.
That’s how they commenced operations and opened offices in 34 cities.
Smartr Logistics – Growth
Currently, their network covers 2000 pin codes in 45 cities with over 75 service centres. Their customer database grew invariably during the second lockdown, and they serviced businesses in various segments from B2B to B2C/ E-comm, BFSI and more.
With improving situations and lesser restrictions, Smartr Logistics continues to grow rapidly at 75 to 100 per cent month-on-month will expand. In the coming months, they will be covering over 6000 pin codes in 150 cities.
Smartr Logistics – Funding
Date
Stage
Amount
Investors
June 2021
Seed
INR 100 Crores
IIFL India Private Equity Fund and Smiti Holding & Trading Company (Jalaj Dani family office)/ Yogesh Dhingra, Founder, MD & CEO, Smart Express
Smartr Logistics – Competitors
They are aware that there are many players, big & small in this industry. Organized players Blue Dart, Delhivery, DTDC, EcommExpress, Xpressbees, Shree Maruti Courier, TrackOn, Professional Couriers. In e-commerce, we have competition from ATS and Ekart. Apart from these, there are a lot of regional and unorganized players in the industry.
Their dynamic technology and simplified digital processes differentiate them from their competitors. They will continuously improve their products and services to deliver the best results, every time.
Their biggest achievement has to be the same-day interstate express delivery. It is a milestone for Smartr Logistics. The accomplishment is a first in India’s express logistics industry, and we are determined to surpass customer expectations in the future as well.
Smartr Logistics – Future Plans
As a new age logistical company, they strive to improve every day in order to fulfil customer, stakeholders, and employee expectations.
For that purpose, they started with pan-India operations and plan to further expand their network and outreach. They are also working towards an international collaboration to commence reliable overseas express delivery.
Additionally, in the next six months, Smartr Logistics will venture into hyperlocal surface logistics that will increase their flexibility and subsequently start with 3PL, warehousing and fulfilment centres.
In a year, Smartr Logistics will be one of India’s leading logistical providers.
FAQs
Who is the founder of Smartr Logistics?
Yogesh Dhingra is the founder of Smartr Logistics and Arun Nangpal, M.D. Bassapa, Nikhil Kumar Saxena, Utkarsh Sharma are the co-founders.
When was Smartr Logistics founded?
Smartr Logistics was founded in 2021.
How many Smartr Logistics service centres are there in India?
There are 65 Smartr Logistics service centres in 34 cities across India.
A great website is probably the most important thing you can invest in when you’re first getting your company up and running. More than just a place for your customers to buy from your new startup, your website is an introduction to your brand, your vision, and your mission.
A great website has the potential to transform casual visitors into advocates for your brand, and to expand awareness for your company across your target market. Your website will also be the first place potential investors visit when determining whether you deserve their capital.
So, how do you make sure your website makes the right impression?
The easiest answer is to learn from the experts.
Every website you’ll visit online today has its own unique design, features, and functionality. However, if you go beyond the branding and the different products or services for sale, you’ll find that many of the top-performing sites have a few basic similarities.
Here are three key elements that you should prioritize in your website, based on attributes that all the top-ranking websites today share in common.
An Intuitive User-Led Interface
If there’s one thing that guarantees a visitor will leave your website, never to return, it’s a bad user experience. What’s more, 57% of users say they wouldn’t recommend a business with a poorly designed website – even if they like the product. This means one of the most important things you can focus on when you’re designing your website, is an intuitive user-led interface.
To make sure your user interface makes sense for your customers, test everything from the perspective of a user. Ask yourself how easy it would be to find your product pages or contact page if you were arriving on your website for the first time. Practice adding items to your cart and going through the checkout on multiple devices to see if anything is clunky or difficult.
Wikipedia is one of the world’s most-visited websites, and it’s also one of the easiest to use. From the moment you arrive on the homepage, you get a simple search bar, and the option to choose your preferred language.
Wikipedia Search page
More importantly, every part of the experience of browsing through Wikipedia is intuitive and connected. If you search for “car,” you’ll be taken to a page with a “Contents” sidebar, so you can easily skip to the information you need without having to scroll through endless content.
You’ll also get links to other relevant content on that page, so you can continue your research without returning to the search bar. The experience feels fluid and simple – and it works great on any device.
Attractive and Consistent Branding
Your website should give an excellent first impression of your startup.
If anything looks old-fashioned or outdated, then you’re instantly going to lose the trust of your audience. In fact, around 75% of customers say they make judgements about a company’s credibility based on web design alone.
With that in mind, think about the image you’re sending with your web design. How can you ensure you carry the same brand image from one page to the next, by using consistent color schemes and typography? Can you make the experience more aesthetically appealing using basic design principles like white space and structure?
It’s also worth remembering that what looks “attractive” to your audience will change over time.
For example, YouTube, another top traffic draw, constantly updates its image to adhere to current standards. In recent years, they’ve added elements like topic tabs with rounded buttons and minimalist side navigation menus, making the content people want more accessible while maintaining a contemporary aesthetic.
YouTube Homepage
Keeping on top of the trends common within your industry will ensure you don’t fall behind the trends and end up looking outdated.
Remember, ensuring your website looks great also means making sure its appearance remains consistently attractive across all devices. Your site should have the same brand appeal for customers on desktops as it does on mobile.
Amazing Content
Last but not least, all of the best websites online today thrive because they’re committed to offering their customers the best possible content. We’re not just talking about ecommerce sites with blogs, or news websites. Every leading website has something valuable, entertaining, or interesting to offer.
If your website isn’t offering your customers anything valuable, then you’re not going to convince them to keep coming back for more.
Look at Twitter, for instance. To make sure customers get the best possible experience when they arrive on the Twitter platform, the social media site suggests content you might be interested in seeing, and offers advice on “Who to follow.”
Amazon website
This is a similar strategy among a lot of top websites. Amazon gives you suggestions on products you can look at based on what’s trending at the moment and what’s relevant to your personal interests. Many news websites show you the hottest, most trending content first to deliver a more immediately immersive experience.
If you want your customers to keep coming back to your website, provide them with an experience that helps them to find all the value you have to offer as quickly and conveniently as possible.
Take Notes from the Greats
While your website is bound to have unique elements to it, from the products and services you sell, to the branding assets you use, there are certain golden rules every website should follow.
Follow in the footsteps of the companies mentioned above by making sure your site has excellent content, a fantastic design, and a great user interface. Not only will this ensure you have something in common with the top-rated sites on the web, it’ll also mean your website has the critical pillars it needs to succeed online.
With the advent of cheap, a large number of countries are trying to go cashless. Going full digital will also help Government track their money better. Almost every country has devised its own payment app. After the pandemic, there were about 70 billion digital transactions that happened in 2020 alone. A number of people have now turned to online shopping at present. This is why in every country there was a surge in digital shoppers. Globally, the total transaction value in Digital Payments is expected to reach US$8,562 Billion in 2022.
But what is real-time payments you may ask, Realtime payments are platforms or networks via which online payments can be made 24/7.
So, let’s look at the Countries with the most real-time payments. These countries have innovated significantly in their digital payment space. This has enabled the common man to make transactions digitally.
Real-time transactions of different Countries in 2020
India has the most real-time payments. It seems that India has successfully designed payment technologies that can be used by the common man. India has a number of apps that are reliable for digital payment.
Companies like Paytm and Google Pay have pioneered digital payment in India. They have made digital payment accessible to the common man. The main game changer was UPI. This is what led to such high digital transactions. Paytm has also enabled QR-based payment for any kind of small business. This is why anyone could digitally pay anybody. After the pandemic, there was a significant rise in online shopping and which gave rise to digital contactless payments. Digital transactions grew close to 90% in the three years from FY19 to FY21. The value of digital payments in India in 2021 was 300 billion. In the financial year 2021, around 44 billion digital payments were recorded across India. Total transaction value in the Digital Payments segment is projected to reach US$142 billion in 2022. Market experts and statistics predict that it will grow to reach 1 trillion by 2026.
China has a huge amount of online transactions and it has a number of online payment app like Alipay, Wechat Pay, ApplePay, Tenpay, and others. AliPay and wechat pay are most widely used for digital transactions than any other company. A lot of businesses fully transact digitally. The businesses which operate with AliPay also transact digitally. As of December 2021, around 900million people used digital payment transactions in China. Total transaction value in the Digital Payments segment is projected to reach US$3,225 billion in 2022.
South Korea is another country that has digitized all kinds of banking and peer-to-peer transactions in a big way. Apps like Amex, Kakao Pay and has a lot of transactions in South Korea. There are other apps like Toss Pay, Payco, T-money, Cashbee, Visa payment. After the pandemic, a lot of businesses came online and started accepting payments online. This led to increase in online payment in South Korea. Total transaction value in the Digital Payments segment is projected to reach US$ 214 billion in 2022. The digital payments in south Korea is expected to reach $ 500 billion by 2024.
Thailand
Thailand is another country that is doing a lot in the field of online payment. They have come up with a payment platform called prompt pay. Before pandemic Thailand had about 7 million, now it has 14.5 million transactions in the whole country. There are also other startups that are coming forward and are building solutions to make digital payment more feasible. Total transaction value in the Digital Payments segment is projected to reach US$ 32 billion in 2022.
United Kingdom
The United Kingdom also has a lot of digital transactions. There is a number of options for digital wallets in the United Kingdom. PayPal is one of the prime companies which provide all kinds of banking transactions. After the pandemic, there is a huge rise in online payment in e-commerce. There are also other fintech companies that are coming into the space to provide solutions in this sector.
The UK is trying to build a very robust online payment system and the adoption of people to digital ways is also increasing. Total transaction value in the Digital Payments segment is projected to reach US$ 436 billion in 2022.
Nigeria
Nigeria is another country that has tried implementing digital payment methods in its territory. There are many apps like Tingg, Paga, Mobile Money. After the pandemic, the digital payment penetration is very high. Though there are other challenges like poor internet, a lot of entrepreneurs are coming forward to provide solutions in this area. The real-time payment volumes grew hugely in 2020. The Real-time volume was 1.9 billion in 2020. It is expected to reach $7.7 Billion by 2025. Total transaction value in the Digital Payments segment is projected to reach US$ 13 billion in 2022.
Japan
Though Japan is a very technologically advanced country, it is still making a huge amount of transactions in cash only. Experts say that the scenario will change as a lot of the younger population will start transacting through online means. After the pandemic, Japan also saw a significant rise in digital transactions. In 2021, around 5.74 billion digital transactions were recorded. Total transaction value in the Digital Payments segment is projected to reach US$ 364 billion in 2022.
Brazil
Brazil is also taking huge strides to transition to online payment. Though in the present, people in Brazil do 40% of transactions by cash a lot of people are transitioning to online means. There are a number of Fintech companies that have mushroomed up in order to provide service in this space. Pix a fintech software launched by Brazil’s Central Bank is used hugely in this country. Total transaction value in the Digital Payments segment is projected to reach US$ 69 billion in 2022.
United States of America
The United States Of America also has a huge amount of online transactions in the world. Companies like PayPal and Google Pay are leading in the USA. They have redefined banking and has made banking transaction much simpler. After the pandemic, the USA also saw a significant rise in online transactions. Total transaction value in the Digital Payments is projected to reach US$ 1801 billion in 2022.
Mexico is transitioning to digital modes of payment recently but a lot needs to be done in this sector. Presently about 85% of transactions happen through cash. Strange behavior that has been noted in the Mexican people is that they consider cash to be more reliable than online payment. Even if they are buying something on any e-commerce, they prefer cash on delivery. Apart from that, the banks are also not very innovative. Total transaction value in the Digital Payments segment is forecasted to reach US$ 72 billion in 2022.
Conclusion
The Covid 19 has provided a massive boost to real-time payment applications as people were confined in their homes and opted for a cashless solution.
FAQs
Which country has most number of digital payments?
India is the leading country with 25.5 billion real-time payment transactions.
How many countries have instant payments?
54 countries have activated real-time payment systems.
Which country doesn’t use cash?
Sweden is a country where about 80 percent of Swedes use cards with 58 percent of payments being made by card and only six percent made in cash, according to the Swedish Central Bank.
Product engagement has a direct relation to perceived value. The more engaged the user is, the more valuable your product is for users. Email sign-up or trial sign-up is not the end goal for the company. It does not ensure a tremendous lifetime value (LTV). Also, there is a high probability of churning customers. Hence, focusing on the new users and presenting your value during the onboarding process contributes significantly to future growth.
Do you know that onboarding emails have an 82% open rate (60% more than the average open rate)?
No wonder having a spot-on, well-thought email campaign turn subscribers into brand loyalists. Especially, a sign-up indicates that users do not need massive persuasion. With little effort, you can direct them to make purchases.
In fact, 31% of B2B marketing professionals believe that emails are the most effective way to nurture a lead.
So, today, We have compiled 5 onboarding email templates to engage new users.
An onboarding email is not about sending that one perfect email that turns users into paying customers. It is a process to nurture leads over time. Here are 5 onboarding email templates to engage new users.
Subject: {NAME}’s Team Welcomes You!/ Thank You from {NAME} team/ Get Started with {NAME}
Hey ___,
I couldn’t be happier to have you on board. We are a strong community of # {target group (marketers, accountants, small businesses, etc.)}.
To head start, check this quick guide that takes you through the basics of {NAME}.
To make it easier, we have a dedicated team to help you with the product onboard. Reach out to us at {Contact details}.
Follow us on Twitter, Instagram, LinkedIn and join # {target group} in their upskilling journey. Stay updated with industry trends and get valuable resources.
{CTA BUTTON}
(Add a small message from your team member, whomsoever is addressing email.
“Been working with the team as {POSITION} for # years now. Our mission is {BRAND MISSION}. We want to take this one step further and would love to get your feedback. Just hit reply to this email! We read all the incoming emails and strive to enhance your experience.”)
{SIGNATURE}
Onboarding Email Template No.2 – Highlight Features
Subject:Did you know that {NAME} supports {USP or UNIQUE FEATURE} as well?/ {FEATURE} with {NAME}/ What next?/ How to {FEATURE} on {NAME}
Hey ___,
Congratulations on taking your {OFFERING (eg: invoicing, digital marketing, email marketing, project management} game a step ahead!
You can achieve much more than {PRIMARY FEATURE} with {NAME}.
{FEATURE 1}{FEATURE 2}{FEATURE 3}
(*Support each feature with the link and a graphic)
Want a solution to a specific problem? Contact us at {CONTACT DETAILS}
{SIGNATURE}
Onboarding Email Template No.3 – Promoting Referral Program
Subject: Special Welcome Bonus for You/ Did you try {FEATURE} already?
Hey ____,
We couldn’t stop ourselves from asking if you got a chance to explore {SPECIAL FEATURE}!
{BENEFIT 1}{BENEFIT 2}{BENEFIT 3}
{CTA BUTTON- Log in here}
Also, You can avail 25% discount on our app purchase with the discount coupon {DISCOUNT CODE} valid until {EXPIRATION DATE}.
(*Alternatively, you could mention a loyalty or referral program)
Our community has {WHAT DID THEY ACHIEVE?} and absolutely loves {FEATURE}.
Want a quick product tour? Contact us as {CONTACT DETAILS}
{SIGNATURE}
Onboarding Email Template No.4 – Case Study
Subject: 85% of our users saved {USP} by using {FEATURE}/ {TARGET GROUP} loves {FEATURE}/ How {A WELL-KNOWN BRAND} uses {NAME}/ Looking for inspiration?
Hey ____,
Did you know that {TARGET GROUP/ WELL-KNOWN BRAND} uses {NAME} to {ACHIEVE WHAT?}.
(*Share case study with relevant social proof and highlight benefits)
{CTA BUTTON- Log in here}
Hope you got some ideas! Want to know more? {Add SOCIAL MEDIA, CONTACT DETAILS}
{SIGNATURE}
Onboarding Email Template No.5 – Free Gift!
Subject: Here’s your gift!/ Bonus for YOU!
Hey ____,
{NAME}’s team welcomes you to the community of {TARGET GROUP}!
Hope you enjoyed using {NAME} and had a great experience.
We are so delighted to have you here that we have a special gift for you! We are offering {BONUS} for a period of {PERIOD}. You will be able to enjoy:
{BENEFIT 1}
{BENEFIT 2}
{BENEFIT 3}
(*Add images)
{CTA- Log in here}
Want to get all the exclusive features for your company? Check {BEST SELLER PLAN} that our community loves.
(*Add a review or testimonial)
{SIGNATURE}
Tweak these templates and ensure to weave your brand story and make users feel valuable. Now, before we wrap this up, here are 3 tips for writing onboarding emails.
7-Step Framework For Planning and Writing Irresistible Onboarding Emails
In reality, you can not just pick and paste an email template on the internet and expect great results. It requires inculcating your brand personality and A/B testing (which by the way boosts ROI by 31%.). Hence, here is a 7-step framework to get you started.
1. Set Goals
What do you want to achieve from your onboarding email?
Primarily, the goal is to ensure product activation and usage.
But what is it that motivates your customer to start using your product? Is it a free trial? Is it going through your catalogue? Is it a quick tour of your product?
Identify the “activation point” and direct your new users there. Look back and see what worked and what did not for past users. Set these actions as KPIs for your email campaign.
For instance, if every new user to your CRM SaaS uses the product after a quick tour and sales representative call. Set sales rep call as KPI for measuring success.
2. Identify Gaps and Incentive
What made my previous user onboarding a success or failure?
As discussed before, identifying activation points is crucial to shaping your email campaign. This step involves looking at records and doing A/B tests to understand users and get the best results.
For instance, A great brand story with a simple CTA could give 25% product activation for your brand. Contrarily, a similar email could lead to 35% product activation for another brand. You need to experiment with different elements and understand success points for your users.
3. Segment Audience
What are the different categories and preferences of my new users?
Segmentation is dividing your customers based on their journey or preferences. Understand where your customer is coming from? Did they opt-in from a landing page or a blog? Or Did they sign-up for a free trial? Segmentation can be based on job titles, company size, or any other relevant detail.
The best example is HubSpot. Whenever a user checks out their sales page or CRM products, they receive an email addressing if they want to purchase anything?
Segmenting your audience is crucial for better results as it enhances CTR by 50%. It opens a window for personalization and makes emails more relevant.
4. Curating Catchy Headline
What is the hook for your audience?
The classic “8-sec rule” to grab your audience’s attention. How are you opening your email? Is it the cliche “Welcome to the community” or “Congrats on making a smart purchase for your business”. Your headline should be evoking and compel users to hang in till the end.
5. Crucial Elements of Onboarding Email
What all should you include in your onboarding email?
Apart from the email address and contact details, many other elements are crucial in your onboarding email. These are:
Brand introduction
What is your brand all about? Highlight that one core pressing problem that your brand solves.
Brand story
What was the journey of identifying and solving the problem? Tell users brand mission and vision for the future.
Benefits and value proposition
What are the features of your product? Do not just mention the quality of your product but show how your product is a solution to their problem. Highlight any other value that people might not know about. You could support this with social proof and case studies.
Competitive edge
What sets you apart? Support your USP with a real-life example and show how your users get better results than your competitors. Give them a reason to stay and not switch to your competitors.
Future expectations
What should your users expect from any future email? You do not just send an onboarding email and forget your users. Email marketing is a continuous process, and you need to tell your users what you have in store for them. For instance, “Look out for the guide on ___ in the coming week”.
Feedback
How do users perceive your emails? Knowing what they feel about your emails is crucial. Just insert a questionnaire at the end of your email and ask for feedback. You could do a small survey and get to know answers to “How do you identify yourself” “How satisfied are you with the email” “How did you discover our brand”. It improves the quality of your email and customer experience.
You do not need to include these all in one email. Users can get overwhelmed with all these details at once. Inculcate these in a series of emails as a part of the onboarding process.
6. Personalize and Humanize Emails
What makes your emails personal?
Personalization is an effective way to build relationships and grow your community. But it is more than adding the user’s name. Leverage segmentation and send relevant emails that align with your users’ journey.
Another way to humanize is to send emails from a team member, on behalf of the team. Add an avatar and send emails from employees’ email IDs. It leads to better connections, especially for B2B businesses.
Also, do invite replies for your onboarding emails. This might lead to friction initially, but our current focus is to engage users and reduce the churn rate.
7. Add Call-to-Action
What do you want from your users?
At this stage, you persuade users to opt for the activation point discussed earlier. CTA does not always have to be buying a product. It can be as simple as:
Striking conversations
Sign-ups
Social media share
Following on social media channels
Freebie download
But, do not opt for many CTAs together. Make sure that your CTA is simple, clear, and strong. Make it stand out and ensure it does not get lost in the email.
These steps will help you get clarity over curating and using onboarding emails. Now, let us look at the onboarding email templates to engage your new users.
Before you finally start using these templates, do not miss these writing tips. These take you a step closer to customer satisfaction and increased engagement of new users.
1. Make emails customer-centric
Share your brand story and mission, but tell users how they are a crucial part of it. Bring a sense of community.
Want a tip on how to boost your click rate?
Additionally the best things you can do to increase your opens is by sharing a relatable story and then insisting the subscriber to move your mail to the primary tab.
Or you can actually share a story and ask for their views on it using the reply mail..
— PRANTIK KUMAR SEAL↗️ (@PrantikSeal) March 5, 2022
Remember- A story well told is a story well sold. So, make them part of your brand story. Also, share your brand values and product benefits with a personalized touch. You do not want a user who already signed up to receive an email with the sign-up process. Segment wisely and prioritize customer fulfilment.
2. Experiment
Do not stick to one template or one proven subject line. Try multiple formats, templates and analyze the performance. Keep consistent brand voice & personality. Work until you find that one hit-point that makes users fall in love with the product.
3. Keep it simple
Avoid adding 10 elements to emails or making them longer. Onboarding emails should be short, simple with no fluff. Do not try to give all the information in one email. Also, you can not persuade users to subscribe to your social channels, make a purchase, download the freebie, check the resource library with one email. Stick to one CTA and goal at a time.
Conclusion
Onboarding emails can turn mere visitors into the highest paying customers! Aim to identify communication gaps and convey brand value. It does not have to be that complicated. Just keep it short, simple, and to the point.
FAQ
How do you write an onboarding email?
Write personalized emails, include Call-to-Action, segment your audience, and write a catchy headline.
When should you send onboarding emails?
You should send an onboarding email when a customer signs up for your product, service or newsletter.
Are welcome emails important?
Yes, welcome emails engage new users and have higher open rates than other marketing emails.
The chances of failure of businesses in the first 10 years are 65%. It is true that not all businesses will survive till the end. In fact, more than half of new startups fail in their first year only. A business needs a lot of other things to survive apart from funds, of course, funds are the most important factor but without proper planning and execution, and the ability to adjust, even if you have a huge amount of funds, the business is bound to fail.
In recent years, EdTech startups have created quite a stir in the world; naturally, India is not behind in this list. The pandemic has contributed to the boom of EdTech in the startup ecosystem. Several EdTech comapnies have made their name in the industry and some are on the verge to become the next big thing. Then there are other companies, who have faced defeat and have failed to survive in the industry.
Lido Learning is an Indian EdTech company, whose failure was a great shock to the industry. In this article, we will talk about, Why Lido Learning shut down its operations while leaving employees unpaid. So, let’s get started.
“You have to always be vigilant and make sure you’re ready to get on the bandwagon as a need for any new change arises.” – Pooja Agnihotri
Lido Learning is an Indian EdTech company that was founded in the year 2019 by Sahil Sheth. The main motive of the company is to provide education in a revolutionary way through their online platform to Indian kids and develop the education industry.
Sail Sheth – Lido Learning Founder
Live classes are held online through this platform for children. Apart from that, animated videos and interactive games are also included in the platform. Top teachers are provided to them and tests are conducted, to understand the progress of the students. The company is headquartered in Mumbai, India.
The main USP of the company was that every class will consist of only 5 to 6 students so that they can get proper attention. Lido Learning was for the students of KG to Class 12.
Reasons for the Failure of Lido Learning
On 4th February 2022 on a very shocking note, Lido Learning shut down their operations and created a situation where 150 employees of the company’s future faced a big question mark.
The EdTech startup was backed by some of the popular angel investors Paytm founder – Vijay Shekhar Sharma, Myntra founder – Mukesh Bansal, Shaadi.com’s founder and Shark Tank India judge – Anupam Mittal, MedLife’s founder – Ananth Narayanan, and UpGrad founder – Ronnie Screwvala.
Some of the reasons that lead to the failure of Lido Learning are:
Inability to Raise Funds
Funding is one of the most, if not the most important factor in a business for its survival. Without funding, a company can never function properly. Although Lido Learning was able to raise $24 million to date for their funds from popular investors like Vijay Shekhar Sharma, and Anupam Mittal but due to the pandemic many companies backed out at the last moment who wanted to invest in the startup.
Various deals with the companies like CureFit and ByteDance for investments got cancelled. This resulted in a shortage of funds in the company that lead to financial difficulties.
Teachers and Employees Are Not Paid
Employees are the backbone of any company; a company can fully function with the help of its employees. Now for that, a company needs to take care of its staff properly. The red flag arose in Lido Learning when the teachers and the employees are not given their payments.
The teachers and the staff took to different social media platforms to complain against the company when their salaries were not paid to them.
Juhiee Arora, Talent Acquisition Specialist
Some ex-employees also complained who quit were not given their payments as well. Nitish Banka, a lawyer at the Supreme Court also shared the same through his Linkedin post.
Nitish Banka, Lawyer at Supreme Court
As per sources, Lido Learning has already suspended all their operation and emails has been sent to the employees regarding the issue.
Inability to Offer Refunds to the Customers
Another main reason for the failure of this EdTech is that the customers of the company were not served properly, their demands were not met and the service was pretty bad.
When customers wanted to cancel the trial period, some demands were not fulfilled, refunds were not offered to them. After the cancellation of their subscriptions, this led to a bad word of mouth and also got negative feedback from the customers, thus the company lost its reputation.
EdTech has been able to gather the attention of the world, especially after Coronavirus when people got confined in their own homes, the education system almost got disrupted. EdTech took the advantage of the situation and made a place in the startup ecosystem. Lido Learning was going good at first but the above reasons have led to its shut down as it was not able to adapt after the pandemic.
FAQs
Is Lido Learning shutting down?
The founder, Sahil Sheth has announced that there is no fund left for the business so Lido Learning will shut down its operations in Feb 2022.
Who is the founder of Lido Learning?
Sahil Sheth is the founder of Lido Learning who founded the company in 2019.
How old is Lido learning?
Lido Learning was founded in 2019 by Sahil Sheth.
Who invested in Lido?
Paytm founder, Vijay Shekhar Sharma, CultFit founder, Mukesh Bansal, Shaadi.com’s founder and Shark Tank India judge, Anupam Mittal, MedLife’s founder, Ananth Narayanan were some of the investors of Lido Learning.
Why is web design important? As you think about redesigning your website, you might wonder how it will impact your audience and business? Let’s look at some of the most important reasons why web design is important.
Small businesses are the backbone of your state’s economy. Therefore, it’s never been more important to ensure that your small business is strong, resilient, and profitable. A good way to make sure that your business is constantly ahead of the competition, modern web design is essential to your company. While this may not directly grow your business, it’s a smart investment that provides the potential to constantly pay off annually. How can a website help your business grow? It’s simple: through conversions. Web design gets you more conversions, and once you’ve got them, you can start improving your business.
It’s the ultimate goal for a company, and that’s because web design includes basics like CTAs and the overall look of the website.
It Impacts How Your Audience Perceives Your Brand
So, let’s get back to the question, why is web design important? It sets the first impression of your brand. When users visit your website, they get a first impression of your business. These are the first seconds a customer may judge your brand. In these couple of seconds, you might want to make a positive influence on your users. If your website is unattractive and old-fashioned, your target audience will immediately leave it and have a negative opinion of your company. If they won’t find your website appealing, they won’t be interested in your products and services either.
Web design is important because it reflects your brand. So, the impression you make on them can get them to stick on your page and learn about your business, or leave it in a second, turning to a competitor. A good web design is crucial to help you keep your leads on your website.
66% of users would prefer to navigate a beautifully designed website versus something simple and plain.
Customers Will Be Happy to Communicate with You
Clients will tell how you will interact with them by watching your website. Your design gives them the perception of how you will treat your clients. If you don’t struggle to make your website look nice and organized, your audience might understand you won’t put any effort into providing excellent customer service. Your website must look modern, bright, and inviting so that your audience will feel more welcome. You will have the impression that you are open and welcoming to people who visit your website.
On the other hand, an unappealing website will make your business look cold and indifferent. Customers don’t really like to check business thousands of times until they get noticed. A web design is the digital face of your brand – think of it as if someone would enter your store; wouldn’t you want to see a friendly face, and make them feel welcome? The same goes for web design. A modern web design is equal to a friendly customer greeting you in your store.
Building Trust with Your Audience
People don’t just randomly visit a website, especially one that has a poor design. Think of your consumers as they are; people who want to invest in your services or products. How would this possibly be happening if your website design doesn’t share trust and reliability? For sure they will find another business to satisfy their wishes.
On the other hand, you could hire a professional web design agency Rotterdam to help build an accurate website for your business. It’s essential to build trust with your clients, so they remain loyal to your company, and stay as long as possible on your website. Remember, your competitors are already one step ahead of your business, as they already use web design. If you would like to remain in competition with your rivals, you might consider using web design services.
Don’t you want your website to stand out from the competition? Therefore, consider updating your old-fashioned website. You will perform better than your competitors, attracting more leads to your page. Redesigning your website is a chance for you to set your business apart from the crowd. A well-designed website will also be creating consistency, the reason why your clients will choose you over and over again.
By creating consistency, you keep leads on your website and get them familiar with your brand.
Elements you may want to implement into your website design
Responsive design – Responsive design is more important than ever, especially since the growth of technology. Your audience will access your website from a wide variety of devices, including tablets, smartphones, desktops, etc. If you want them to remain connected to your website, you must make sure that each one of your users has a positive experience. Responsiveness ensures that your people enjoy navigating your website. It’s essential to keep leads engaged with your website.
Solid navigation – When users access your website, they want to get information quickly, which means that they won’t stay long on your page. Thus, you need solid navigation. No one wants to struggle to find information online. All we want is to get direct access to the information we’re seeking. If your website’s navigation is poor, you will discourage your audience from staying on your page. Users’ attention is short. So, if you want to keep them on your page, you must allow them to access info rapidly and directly. It’s the easiest way to attract a target audience to your website.
Style – Last, but not least, a good reason why web design is important is that it develops consistency, which is already mentioned, it helps build brand awareness while keeping your users engaged for longer on your page. You decide how you want your website to look, just make sure it’s organized and stylish.
If you are prepared to build your dream website, please consider the options above, and don’t hesitate to hire web design professionals. They are waiting to help your business grow!
The article is contributed by Karan Gupta, COO & Co-founder of Ayu Health Hospitals
As an entrepreneur, finding solutions to real-world problems has always been my calling. There is a visible opportunity to do so in the area of the Indian healthcare system. While the overall healthcare infrastructure across the country has also developed during the pandemic there is a lot more that can be done to cater to the middle-class population of the country which arguably forms the largest percentage of the population.
The latest “Healthy States, Progressive India” report by National Institution for Transforming India (NITI Aayog) showcased state-wise ‘Health Index’ for Indian states and union territories. The report provided insights on the health outcomes, governance and information, and key inputs and processes involved. The summary of the report showed that among the larger states – Kerala, Tamil Nadu, and Telangana were considered as the best performers. However, it should also be noted that 50 percent of larger states did not even reach the halfway mark in terms of the ‘Composite Index Score’ for overall performance. The report also clearly showcased that there is a clear disparity between urban and rural healthcare as well as a difference in the quality of healthcare provided by the private and state healthcare facilities. A few areas of opportunity that could improve the healthcare system and bridge these gaps are:
Building Awareness
A large part of the country has people who are unaware of the importance of regular health check-ups. Currently, people visit the hospital only once in a couple of years when they notice a condition. By the time they notice it, the condition might have worsened. Educating them about the benefits of regular checkups to preempt the condition from worsening is important.
Access to Healthcare
Having a healthcare facility that can provide all the necessary treatments as well as diagnostic and medication support at a short distance from one’s residence is the need of the hour. Such a facility will provide regular care to the people in that locality resulting in a highly productive workforce that will, in turn, add to the growth of that locality.
Healthcare Staff
Adequately trained doctors, nurses, and technicians are a necessity for every healthcare facility to become successful. Such well-trained healthcare staff should also be supported by additional members who manage and maintain all the non-medical aspects of the hospital including – administration, procurement, logistics, etc.
Affordability and Pricing Transparency
Multiple reports show that 75% of the people in the country don’t have medical insurance and have to pay for healthcare from their pockets. One of the main reasons for the general public’s distrust in private hospitals is the contrast of the amount that one needs to pay at the end of treatment vis a vis the amount quoted by the hospital before the procedure. Added to this is the difference in pricing that is provided to insured vs. uninsured patients, which is further followed by the fluctuations in pricing based on the availability of facilities and seasonality of the disease. Providing clear costs upfront to the patients will help in preparing the patient’s family for making an informed decision about the options that they have.
Confidence to Make a Pragmatic Choice
The internet, friends and family, doctors- are all sources from which people get information about their condition and the route they should take to cure themselves. However, the amount of information and the difference in the advice from each of the sources makes it difficult to decide between treatments, hospitals and doctors. Standardizing the right information about the condition, course of treatment, price, infrastructure, and the facility to avail themselves of second, third, fourth, as many doctor opinions as they need to decide on the right way forward would empower people to make the right choice with confidence.
Many of these problems in the current healthcare system can be solved with the help of technology that can standardize treatment protocols and centralise resources. With the points listed above, the healthcare setup in the country can attempt to solve many of the discrepancies through standardisation of care resulting in consistent health outcomes. This will further build better awareness amongst the patients and caregivers. Patients have the right to gather all the relevant information throughout their in-patient journey. Such transparency will rebuild the public’s trust in the healthcare system of the country and will also provide them with all the necessary information that they may need regarding the treatment options that are available to them and the most affordable price that they will have to pay for it.
The primary factor that drives any startup is not just the idea but also the ways in which the novelties are pitched in based on the market trends. Keeping that in mind it is also important to look through the various ways in which start-ups have come up and gone through the test of time by adapting and improvising their key ideas depending on market requirements.
This article will be looking at an e-commerce platform that had to shut down due to various reasons. The highlight here is that they didn’t stop there. Today they have come back in a new form announcing their presence in relevant areas. Abof.com by Aditya Birla Group is this e-commerce website that deserves careful scrutiny of its inception, downfall and resurrection.
Abof.com was launched in 2015 by the famous billionaire Aditya Birla. Abof stands for All About Fashion and was considered to be a significant competitor along with Amazon and Flipkart in the fashion industry. They had consolidated its branded apparel business under the label of the lifestyle retailer Pantaloons Fashion and Retail India Ltd. However a company with a strong foundation in all sense of the word had to wind up its operations and transactions by the end of 2018.
Abof.com was the second e-commerce venture by the Aditya Birla Group that had to shut down. The first one was Trendin.com. The following are the primary reasons that led to the closing down of the firm.
When Abof was launched, they had to compete with e-commerce giants like Flipkart which owned Myntra and Jabong along with Amazon and Snapdeal. As far as this matter is concerned, the company should have ideally analysed the marketing patterns of its competitors so as to respond in such a way that would help themselves improve their businesses. However, analysts who observed the functioning of Abof says that the firm failed in marketing their products efficiently.
While companies like Myntra, Amazon, Jabong focused heavily on social media ads, re-marketing in addition to tying up with Google, Abof did not engage in these methods actively. The opportunities for the company to channelise a huge amount of money for the purpose was possible considering the fact that they were backed up by a giant like Birla.
Failed Campaigns and Price Disparities
In an already complicated world, it is extremely important to be the best and stand out for better sales. As far as the customers are concerned, they will go for the best deal at the best price.
Considering the similarity in the options given by all the competitors in the fashion industry, one of the main things that ensure the business is by making sure that the customer profit ratio is high. At the same time, it is also important to ensure the standing of the company. However, Abof approached the competitive market in a very different manner.
It can be seen that the company didn’t follow the basic pattern wherein new ventures do the business with less profit margin at least in the initial years. The ambition to earn billions within a short span of time fell upon them in a negative manner.
When Abof launched their site, they made it extremely clear that they will not give any kind of discount. They also added that their “target consumers are not the guy who is looking for a deal”. One thing that they forgot was that when it comes to daily wear apparel that is available in multiple places, everybody will go for the cheapest one. By the time the firm realised its mistake and introduced more than 70% off on their products, it was too late.
Lack of Options
One of the main intentions of this e-commerce website was to sell their own brands amidst a few other brands. In such a scenario it is very important to have a clear-cut statement that attracts customers to their particular brand instead of others.
While pitching a new brand amidst others that are available in multiple places it is also necessary to hold the customers with them without going to another platform to avail themselves of a better deal. Such a complex intention of the company along with its stringent rules that did not give enough discounts like others further eroded the credibility and site traffic of Abof.
The situation was further aggravated by the wide expanse of offers and varieties provided by its competitors like Amazon and Flipkart in their websites. The fewer brands and options in Abof spoke for its own downfall.
Efforts Taken by Abof to Revive the Brand
It did not take much time for Aditya Birla Group to recognise that the soil under their feet was flowing away. Although they had refused to provide any discounts, they had to offer up to 70% off on the products that were available on the portal.
The company also tried to enhance their marketing game by publicising its 3D trial room to the customers via TVC. The campaign was supported in selected cities like Lucknow, Chandigarh, Patna, Jaipur. They had also tied up with popular shows. However, the campaign didn’t reach the audience as expected.
As it became more difficult for the firm to continue, the HR director at Aditya Birla group said that considering the vastness of the e-commerce business it is a struggle to make money from the venture for some time. He also added that it doesn’t seem logical to continue when it is very clear that things are not right. December 31, 2017, was the last day of its operations.
Even when it shut down, Abof gave a good example to the firms around. They did not abandon their employees. More than 200 of them were absorbed to other wings of the Aditya Birla Group. They were also given the option to quit along with payroll for 4 1/2 months.
The company’s way of taking responsibility for the future of the employees who trusted the vision of the venture showed the commitment of the company towards its employers. Through effective communication and handling of the entire process, the shutdown was hassle-free which is usually a rare sight to see. They were are also not ready to stop learning.
Today Aditya Birla Fashion and Retail Ltd have announced the launch of Abof which will now be available in other e-commerce platforms like Flipkart and Myntra through third-party sellers. By utilising the vast network of Flipkart and Myntra they are all set to expand their reach across the subcontinent and thereby introduce customers to a wide range of collections. It is hoped that the company will make a strong comeback by learning from its mistakes.
FAQ
Why did ABOF fail?
Abof refused to provide any discounts on its products, Its marketing strategy failed to attract customers and it had fewer options than its competitors.
Who owns ABOF?
Aditya Birla Group launched fashion retail site Abof in 2015
Your business gain attention because of your products and services. If your products are not good enough, your business will not flourish. Your product can only gather attention, if it has the ability to change the world. Now when you launch a product, it has to be visible enough for your audience to even ponder about it. Internet has given us the facility to connect with from all over the world. Everyone is online now. So, it is necessary, to understand where, when and how the product should get launched.
We will talk about an amazing platform where you can launch your product. Here we will talk about everything that one needs to know about product hunt, so let’s get started
Founded by Ryan Hoover in 2013, Product Hunt is a website that gives a platform to developers to launch their new product. Product Hunt has a huge audience that follows it. If you have any online products like a web app or mobile app, you can just register for it and they will feature you in their list if your app is worth it. The best thing about launching a product on Product Hunt is that it is all free and has quality checking. Real people check your product and decide whether to feature it or not. Therefore, many people check out the list to know about the new products launched on the internet.
Why Should You Launch Your Product on Product Hunt?
MassReach: As already told, many tech geeks do keep a track of Product Hunt lists. So, there is a very strong possibility that you will grab the attention of many tech people, who might be in the need of your product.
Free: There is nothing wrong in trying Product Hunt as it is all free to launch your product on Product Hunt. Even if you don’t make it to the list, you will not lose anything.
Feedbacks : You will get much feedback, both positive and negative. You can act on those feedbacks and improve your products. People will tell you what they need and want in your product. Therefore, you will not have to conduct any survey to check the market need for your product.
Investors: You might have bigger plans for your product and with the help of Product Hunt, you might find investors who believe in the growth of your product. Investors keep roaming all around the web to find an investing opportunity. They will not let an opportunity to go away if they see potential in your product.
Media: There are so many famous blogs that follow the list of Product Hunt. You might end up getting an article based on your product only, publish on a news blog. This will instantly increase your traffic and user base.
However, this is just a possibility. Very few products with some really special features could do that. Do not get fantasized by these advantages. Don’t create expectations because when it doesn’t happen as expected, it hurts. This will result in de-motivation. The only disadvantage of Product Hunt is that it is very, very tough to make it to the feature list.
How to Submit Your Product on Product Hunt?
Signup to Product Hunt
Once you are logged into your account, click on the “+” button in the top right.
Submit all the details including description and tagline. Please note that your account should have the access to post and submit products. You will need to become a contributor in case you want to post a product.
Who Are Hunters?
Hunters are the accounts or basically, the people who have the ability or better say, permission to hunt new products. They are the one who finds new products and shows to the rest of the community. Anyone can become a hunter by participating in community weeks, up voting products, create collections, and others. Your aim is to get as many followers as you can, to become a hunter.
Who Are Makers?
Makers are the people who develop the product and submit it to Product Hunt. There are mostly developers, inventors, and writers.
How to Launch Product on Product Hunt
What Can You Launch on Product Hunt?
Web Apps
Mobile Apps
Hardware Products
Games
Books
Podcasts
Conclusion
Product Hunt is one of the most popular and the best platform to launch your products. Many people create amazing things but don’t know what to do with that , if you want to let people be aware of your product, you need to market it properly. If you come up with some crazy idea, then don’t stop yourself to create it because you do have a great platform, though whose helps you can launch the product.
FAQs
What are some alternatives of Product Hunt?
Some fo the alternatives of Product Hunt are, YCombinator, AngleList, Beta Page, and Netted.
What is the purpose of Product Hunt?
The main purpose of product hunt is to help makers launch their products in their website where they find their first customers who use the products and provide feedbacks to the makers.
Kavita Thakur
