StartupTalky

Tag: 🔍Insights

  • How did Gitlab Reach a billion-dollar Valuation with a Remote Workforce?

    Past One and a half years have been hard for everyone. We were in a global pandemic that confined everyone to their homes. The social aspect of being a social animal was almost cut off and thrown out of sight.

    One of the most affected or I would say affected domains is the work domain. We all learned to work remotely in these tough times. Technology proved to be a good companion in these times. This was a good test for that too.

    While almost everyone’s opinion says that work from home is no substitute for in-office work. Remote working can be cost-saving, time-effective, and can break physical location barriers. It is thought that it might just never be the future of work. As it is not as efficient as the normal mode of work.

    While we talk about the opinion of the general public, a company goes ahead and makes this mode of work their primary model of working. After doing that it touches a valuation of more than one billion dollars. The company is GitLab, and it has pulled off a magic trick. How can a company pull this off? This is the article about how GitLab managed to touch billion dollar valuation while all employees working remotely. Read on to uncover the growth mystery.

    What is GitLab?
    Remote Working in GitLab
    How Did “All Remote” Work for GitLab?
    Benefits of Remote Working
    What to Avoid while working Remotely
    FAQ

    What is GitLab?

    GitLab is a software company. It makes a product, which is a complete platform for DevOps. The DevOps platform empowers organizations to maximize the overall return on software development by delivering software faster, more efficiently, while strengthening security and compliance.

    So what is a DevOps lifecycle? It is a continuous cycle of software development. It involves development, integration, testing, etc. What makes GitLab unique is that it creates a streamlined software workflow for the organization.

    One of the shiniest traits about this company is that It recently was named the biggest remote working company in the world. Crazy, right? Well, it takes courage to make the whole organization go remote, after all, it is a 1400 member organization and it can be difficult to manage work with this big of a team. Let us see how the remote working works and does it even work at all?

    Remote Working in GitLab

    GitLab recently was named the biggest remote working company in the world. Surprisingly the whole corporation works on a model of work-from-anywhere. Even with remote working, the company managed to create a billion-dollar valuation. This has put many people in awe like us on how it does it. The company has more than 85 per cent of employee retention that is higher than most companies average.

    How is the company able to manage and work efficiently with all the employees working remotely from anywhere in the world? First, let’s discuss what types of models exist for working remotely and then how GitLab follows an efficient type.

    Stages of Remote Work –‌‌

    No remote – A model where no remote work is allowed. It can be due to a leadership mandate.
    Remote time – When some remote work time is tolerated and seen as a perk for jobs.
    Remote exceptions – When some employees can work indefinitely and others work from physical offices.
    Remote allowed – When anyone is allowed to work remotely, except few location-based exceptions.
    Hybrid model – A mix of remote work and physical office work when and as needed.
    Remote days – When the entire company works remotely (even executives).
    Remote first – When the leadership assumes that the whole company is distributed.
    Remote only – When the work is remote but team-based and time-based.
    All Remote – Companies like GitLab where there is no office, no fixed time zone, and greeted flexibility. It also discourages frequent meetings.
    Strictly remote – A company where it is strictly decided to never meet in person and work remotely always.‌‌‌‌

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    How Did “All Remote” Work for GitLab?

    GitLab has its employees all remote. Remote here means that the company has no office, literally no permanent office at all. It however says it is open to small bursts of hybrid models. It is open to renting a desk but the company has no physical working space. So, how did the remote work model worked for GitLab.

    Leadership Quality

    Employees at lower levels of responsibility mimic the leadership at the top level. GitLab knows this and thus invests more on the senior level of executives. They choose carefully the leaders who are effective communicators and can handle a team remotely with the same efficiency as offline work.‌‌

    Transparency

    Remote work at GitLab discourages informal communication and it leaves fewer chances of communication. So, employees communicate more than normal to avoid any discrepancy. This leads to transparency of the whole company and betters the organization’s administration. ‌‌

    Asynchronous Decisions

    GitLab follows a DRI approach to decisions. DRI stands for Directly responsible individuals. This means, At GitLab, everyone can make a suggestion but the person who is actually making the decision can choose whatever he/she wants without explaining themselves. This ensures that decisions are not vanishing all over the employees. Otherwise, there would be just too much convincing work. ‌‌

    Iteration for coordination

    Coordination is hard in any company. When it comes to remote, there are more time and location zones and it becomes even more trouble but GitLab has found a solution for itself. It does small tasks first to synchronize various departments and then increments the process in order to fulfill a bigger goal.‌‌

    Writing culture

    Documenting everything. It’s easier to create and delegate tasks in an offline setting but not easy in remote work. So what GitLab does is that they write a lot, they write tasks completion details in a handbook, make annotations and get the work progressively done.‌‌‌‌

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    Benefits of Remote Working

    There are many benefits of working remotely. The most common that are the most easily clear is -‌‌

    Cost-effective

    Imagine running a business with no office at all. No physical space or office at all. This is highly cost-effective. This is what remote work enables employers to do. It saves cost and allows us to spend on more important tasks of the company.‌‌

    Commute time

    Employees save a lot of commute time, which can be devastating if you live away from work. The employees get the time back to themselves, leaving them with more time to spend with family or with themselves.‌‌

    Flexibility

    Employees get the benefit of work flexibility, which otherwise didn’t exist. They can spend time with family when needed. Moreover, it boosts retention. GitLab reportedly has more than 85% employee retention.‌‌

    Recruitment

    When employees can work remotely they can be located anywhere. Even far from the workplace, even in a different country. It saves cost when we hire people from non-metro cities. ‌‌

    What to Avoid while working Remotely

    If you are someone who wants to create a remote work organisation, there are a few common pitfalls that GitLab says you should avoid: ‌‌

    Do not Assume that there are No Resources Available Yet

    In this tech world where you might think that everything is easy and can be done, you are not wrong there. Yes, every resource that you want for having your organisation go remote is already out there. Do good research and work with your employees to figure out what works best for your case.‌‌

    Do not Replicate the In-office Experience, Remotely

    This is the least you should do. If the arena is different, the rules should bend too. After all, it is a new dynamic work view. So replication of office experience will lead to turmoil. It is vital to reorganise and recalibrate at this point.

    Do not transfer all in-person meetings to virtual

    Remote work is not something unintentional. It is what you consciously choose to do for more efficiency. Transferring all meetings to virtual mode will not be efficient as it will take more time and lead to less productivity.

    Do not assume that everyone has access to an optimal workspace

    While people who are working remotely for a long time now would have calibrated to a more organised work desk. But do not assume that everyone has that privilege. Organisations should encourage employees to spend companies money as their own while constructing a home office. Also, consider reimbursing expenses.

    Do not assume that remote happens overnight

    Oh yes, it is a dynamic process, change can be a long process. Every employee may not be familiar with this mode of work or might take time to get used to it. Productivity may differ at different times and the solution is not to panic but to give it more time. Don’t assume your existing values can remain static.‌‌‌‌

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    Conclusion

    According to the software company GitLab, “All remote is the future”. The world opens its eyes to a new and refreshing reality that is unlocking new potential. They can, as it turns out, accomplish their work from anywhere.

    When you have the freedom to work anywhere with a stable internet connection, you’re able to build your career around your life, not vice versa. You can chase superior air quality and schools, move to a smaller community, move back home, relocate to be a caregiver, or travel full time. All these benefits provide an agile edge not only to businesses but also and primarily to employees.

    FAQ

    Is GitLab fully remote?

    Yes, GitLab is a fully remote company, meaning that all of us (currently six) work 100% of our time from home or any other place in the world.

    Is GitLab a good place to work?

    According to a report 95% of employees at GitLab say it is a great place to work.

    What is the meaning of remote working?

    Remote work is a practice where employees do their jobs remotely or from their home.

  • How Brands Market their Product in Movies | Product Placement in Movies (Case Study)

    There are many forms of advertisements right from Print, Broadcast,  Podcasts, Email marketing, and Digital Advertisements. These are merely some examples. Anyway, there is one thing in common that all these advertisements have. That is, you know that these brands are consciously and deliberately pursuing you to buy their products. You know they are marketing their products and services to you.

    Do you think people could advertise their products without doing it? Yes, there exists one such form of advertising which does it in a more subtle manner; and whether you know it or not, your brain unconsciously registers that. This type of advertisement is called product placement. It is a risky business, but when done correctly, product placement can have a huge impact.

    The Origin of Product Placement
    How Product placement entered the mainstream in the 1980s: A Brief History
    Product Placement’s in Current scenario
    Product Placements in – To All The Boys I’ve loved before
    Product Placement in James Bond Series
    Product placement from Indian context
    Why the business of placing products in the movies continues to thrive?
    FAQ

    The Origin of Product Placement

    1882 – Edward Monet Painting

    Arguments for the first cases ever documented

    Though this is a debated topic, some scholars argue that the first product placement to be ever done started with a painting done by Edward Monet in the year 1882 for a beer-selling company.

    Edward Monet Painting
    Edward Monet Painting

    Another one is said to have been done for a movie none other than the Lumiere brothers’ film in the year 1896. It was a soap manufactured by a British company, the Lever Brothers. However, the first ever product placement to be documented was in the year 1920.

    1920 – The Garage, Red Crown Gasoline

    The first documented case of a company paying to place their product that was ever recorded was for a silent movie, The Garage starring Fatty Arbuckle and Roscoe Arbuckle.

    1927 – The Hershey’s chocolate, Wings

    The trend started emerging and the Marx Brothers caught up with it in the year. Fun fact: the first movie, which won an Academy Award, also did have product placement. It was, of course, for Wings, and the first appearance of Hershey’s Chocolate bars featured.

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    How Product placement entered the mainstream in the 1980s: A Brief History

    So how did really the business of in-film product placement boom?

    The production team was not really paid back then to place their products in the movies. But it involved a different deal. Like asking: do you need a car for your movie? And if the team would say yes, then the brands would let them use their products for free or create cross-promotional campaigns that feature both the product and the movie. Until the 20th century, mostly the concept was pretty much informal.

    Guess the company that paid a million dollars to promote their company?

    Reeses Pieces Product Placement in Extra Terrestrial
    ‘Reeses Pieces’ Product Placement in ‘Extra Terrestrial’

    A hint: The company sells chocolate products. In the early 1980s, the trend went mainstream, and Steven Spielberg’s new film was to promote Hershey’s brand.

    Initially, the deal involved Mars, but it withdrew away from being featured, but then a deal was made between Hershey’s marketing executive. The Reese’s pieces were used and in exchange Hershey’s was to create a 1 million dollar campaign for the film. The sales of the product went up, which had only been introduced years ago.

    Until the 1982s, the movie, The Extra-terrestrial was a huge success, both as a movie and for doing product placement.

    Product Placement’s in Current scenario

    The practice of consciously placing products in movies is almost a common practice now in the twenty-first century. So much now that it does not only involve films and movies, but also many famous web series that were huge hit. And we know that Netflix does this all the time. Even though Netflix denies the fact. Namely, there are three types of product placements which are explained in brief below:

    The three types of product placements are:

    Screen placements

    Burger King Product placement in Stranger Things
    ‘Burger King’ Product placement in ‘Stranger Things’
    • In screen placements, the products are usually placed in the foreground or the background.
    • There is no mention of the name of the product, but the product is shown on screen and is given a fair amount of time to get noticed by the audience.

    Script placements

    'KitKat' Product placement in 'Sex Education'
    ‘KitKat’ Product placement in ‘Sex Education’

    Let us take an example of the Netflix show’s last episode of Sex Education from season 3. Both our characters Eric and Otis deliberately mention the product name KitKat, when Eric’s lines say it all.

    Otis: “What do you want?

    Eric: “Um… Oh, a KitKat. Always a KitKat”

    And when Otis offers Hope one when she is having a mental breakdown in the hospital.

    Hope: I don’t need a KitKat

    Plot Placement

    Beats Product placement in Only Murders in The Building
    ‘Beats’ Product placement in ‘Only Murders in The Building’

    Making the products connected to a character and integrating it as a part of your film. Let’s take Beats Studios Wireless Headphones in the web series “Only Murders in the Building” where Selena’s character’s first appearance as Mabel clearly features using the headphones when she steps into the elevator and the product is subtly mentioned by the other character _ trying to make a conversation with her.

    The product is so seamlessly blended with the character that even when their podcast gains popularity you can see the fans using the same headphones while sitting outside the building. It creates an emotional bond.

    We could say the same with Eggos and Evelyn intertwining the product with a character in Stranger Things.

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    Let’s take a look at Hollywood’s one of the most watched and talked about movies adapted from Jenny Han’s book.

    Product Placements in – To All The Boys I’ve Loved Before

    Yakult:

    To All The Boys I Loved Before - Yakult Product Placement
    To All The Boys I Loved Before – Yakult Product Placement

    The fermented skim milk was created in the year 1935 in Japan and got a major sales boost after getting a cameo in an adapted movie from Jenny Han’s book ” To all the boys I’ve loved before” the drink is.

    Subway sandwiches:

    To All The Boys I Loved Before - Subway Product Placement
    To All The Boys I Loved Before – Subway Product Placement

    They gave Subway an emoji specially designed for the company to show the love that Lara Jeans, best friend has been craving for its sandwiches. They can also be seen sitting under the bleachers and having them.

    Mountain dew and Arizona iced tea:

    To All The Boys I Loved Before - Mountain Dew and Arizona Iced Tea Product Placement
    To All The Boys I Loved Before – Mountain Dew and Arizona Iced Tea Product Placement

    The conversation that takes place between Lara and Josh sitting in the stands at the beginning of the movie, with a flashback with Jean is shown having Josh as her first real boyfriend with a space in between. Though not mentioned by name, the products get enough screen time in the scene to get noticed by the audience and not to forget mountain dew is mentioned in one of Josh’s dialogues.

    Converse

    The still shot that shows shoes of Lucas in the stall next to Lara is occupied when she runs away after kissing Peter for the first time on the running ground, and there goes them wearing Converse shoes which are already pretty much popular among the teens.

    Instagram

    Using Instagram was shown quite effortlessly by both Peter and Lara as the social media platform is very popular among the youth and especially teens. Looking from the point of view that the movie was azom.com for teens. They nailed it, getting placement in the right place and for the right audience.

    Apple’s MacBook Air:

    To All The Boys I Loved Before - Apple MacBook Product Placement
    To All The Boys I Loved Before – Apple MacBook Product Placement

    MacBooks are frequently shown throughout the movie when Lara and Kitty watch the movies when Margot leaves for college, and during movie marathons while fake-dating Kavinsky. The logo of Apple clearly gives out the message about the product Skype. iPhone when his dad takes their picture for entering new grades.

    Jeep Wrangler:

    To All The Boys I Loved Before - Jeep Wrangler Product Placement
    To All The Boys I Loved Before – Jeep Wrangler Product Placement

    Used by Peter Kavinsky when he comes to pick up Jean and Kitty the first time when he drops Lara off after clearing things about the letter in the cafe and driving her home.

    Some of the placements by brands were quite a success as they did the job for Yakult, making people nostalgic about it along with exposing many other products to the audience with it one of the most-watched movie series.

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    Product Placement in James Bond Series

    Product Placements of Lark Cigarettes in the James Bond Series
    Product Placements of Lark Cigarettes in the James Bond Series

    The popular movie franchise “James Bond” did it all the time. Since the release of Dr No in 1962, the James Bond franchise has been associated with a number of brands. Many brands came in line to pay for promotions in the future instalments for the famous cinema piece. The early films featured Pan-am Airlines and smith and Wesson firearms. The early films feature tie-ins with popular companies like Pan-Am Airlines and Smith and Wesson firearms. The iconic cigar that Bond fashioned is also a very popular brand placement. It is said and reported that Lark Cigarettes paid as much as $350,000 to feature their brand of cigarettes in Licence to Kill. Besides the aforementioned brands, some of the other popular brands to be associated with the franchise are Microsoft, Gillette, Playboy, Toblerone, 7Up, and KFC.

    Aston Martin’s Placement in Goldfinger

    Product Placement of Aston Martin in Goldfinger
    Product Placement of Aston Martin in Goldfinger

    Even after we have talked about so much brand placement in the movie, we can still remember the iconic ride of James Bond. It was the luxury car brand Aston Martin that was honoured with bond’s feet on their product. Aston Martin, the luxury car brand jumped at an opportunity to be associated with the British spy. Starting from Goldfinger in 1964, this partnership has endured the test of time.

    Product placement from Indian context

    The movie with the most iconic dialogues and is very famous for the memes that make you go, say relatable!

    Domino’s, Baburao and Phir Hera Pheri

    Remember the scene from the movie when Baburao comes climbing down the stairs, asking everyone to gather around. The box that he holds is of Domino’s pizza and the also mentions to Sham how he tricks the Domino’s pizza delivery guy to get a free pizza according to the brand’s then ongoing scheme.

    Bournvita, Rohit, and Koi Mil Gaya

    Koi Mil Gaya Bournvita's Product Placement
    Koi Mil Gaya Bournvita’s Product Placement

    No matter your age, a Bollywood movie that almost everyone knows about is Koi Mil Gaya starring Hritik Roshan and Preity Zinta. The movie is famous for the appearance of an alien named ‘Jaadoo’. Apart from this, the movie makes for a great example of the product placement of Bournvita. In this movie, it is shown that the young Rohit (Hritik’s character) loves to drink his milk with Bournvita in it. In some scenes, he even boasts about it to his friends and also offers some Bournvita to a winning kid in a game.

    Another example of a movie starring Hritik is the Bollywood film “Yaadein”. It was a hit, like all other movies that star Hritik Roshan. He is an all-time favourite actor in the business. But could you notice Coke’s ‘Product placement’ throughout the entire running time of the movie? You might not remember but your brain must have noticed, “Cool people like Hrithik drink Coke”.

    Why the business of placing products in the movies continues to thrive?

    What are the advantages of product placement?

    • It can create trends and affect cultures.
    • Even bring a crashing product back into the business again on top of the market again.
    • People will prefer to see a real brand rather than a fake or a created one on screen.
    • Helps increase awareness about your product and the brand.
    • Gets money rolling in for production.
    • Ropes in money for production or advertising.
    • Helps in giving exposure and recognition to your brand
    • Reduces the cost required for the filming budget.
    • Helps integrate the brand’s values through storytelling
    • Creates a positive brand recall.
    • When used effectively, it can also help boost sales.

    Setbacks of Product placement

    • It can be quite distracting if the placement is done in an aggressive manner.
    • If not given much thought, it can bring negative reviews for the film.
    • Products require a certain amount of screen time and can get messy if not followed smoothly.

    Conclusion

    We know that product placement is a very bumpy ride and can be a huge interruption for a movie or series fan. Moviemakers know it very well. However, if done smoothly and carefully, it will go unnoticed by the audience and it will also make revenue for the brand. Thus, product placement in movies or series can do wonders for a brand, if done correctly.

    FAQ

    What is product placement

    Product placement is a form of an advertisement in which a branded item or object is placed in a movie as part of the movie.

    Which movie has the most product placement?

    Avengers Endgame is a movie that had a combined 76 million dollars in product placement advertising value.

    What is example of product placement?

    If in a movie, the lead actor is drinking a clearly labelled Coca-Cola beverage or using a clearly labelled Samsung cell phone, then it is product placement.

  • The Rise of Chatbots in the B2B SaaS Industry

    When someone goes to a website to look for information, they have two options. One is to pick up the phone and speak with a customer service representative to get answers to their questions, and the other is to use the online chat facility. The majority of individuals favor the second route since it is quick, simple, and hassle-free.

    But have you ever thought about where this help comes from? That is the person on the other side of the table who has all of the answers to all of the questions and concerns? Well, it’s not a human, but a chatbot, as most of you are probably aware.

    Chatbots are becoming more and more popular every day. They’re a godsend for businesses that offer chat services on their websites. Furthermore, as new AI (artificial intelligence) technologies emerge, chatbots have grown more efficient and advantageous to organizations.

    Bots are proving their mettle once again with the latest features, such as language processing skills, built-in algorithms to assist learning from patterns to enhance their knowledge, and so on.

    What are Chatbots?
    How do Chatbots work?
    The Rise of Chatbots in B2B SaaS Industry
    FAQ

    What are Chatbots?

    Bots are computer programs that execute tasks that would otherwise be performed by people. They collect data and use the information to make the interface more instinctive and intelligent, thanks to artificial intelligence (AI).

    Chatbots are computer programs that simulate human dialogue. They respond to the queries of the users. Every command is met with a positive response.

    Almost major platform, including WhatsApp, Facebook, and others, now has chatbots built in to improve the user experience.

    They might be either utility bots or informational bots. Users can get important information from information bots, while utility bots accept commands and reply.

    How do Chatbots work?

    Natural language processing, or NLP, is the technology used by chatbots. It is a branch of artificial intelligence (AI) and computer science concerned with the interaction between humans and computers.

    Three classification methods are used by chatbots to function.

    Matching patterns

    Bots utilize pattern matching to classify texts and provide appropriate responses for consumers. The pattern’s standard structure is AIML or Artificial Intelligence Markup Language.

    Neural networks (Artificial Intelligence)

    With the help of weighted connections created through multiple iterations during data training, neural networks make it easier to determine output from input. Every sentence is split down into different worlds, and each word is finally used as an input for neural networks.

    Algorithms reduce the size of classifiers and provide more manageable structures. The reductionist approach is the name given to this method. In a nutshell, it boils down to reducing the problem to a simple answer.

    Algorithm

    Algorithms reduce the size of classifiers and provide more manageable structures. The reductionist approach is the name given to this method. In a nutshell, it boils down to reducing the problem to a simple answer.

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    The Rise of Chatbots in B2B SaaS Industry

    Chatbots have risen to prominence in recent years as a result of their capacity to streamline a variety of marketing procedures. By offering fast solutions to clients’ questions, these clever automated messengers speed up the process of certifying sales leads.

    According to a Harvard Business Review study, organizations that do not respond to leads in five minutes or less risk losing them forever, emphasizing the necessity of giving prompt responses to your clients.

    Chatbots are still a relatively new concept, and their enormous potential is sometimes missed. B2B enterprises account for 58 percent of all websites with a chatbot.

    Given that chatbots were previously utilized significantly more frequently by B2C enterprises, this is a fascinating finding. Because of this rising usage, there are several significant advantages to using a chatbot in your B2B organization. Continue reading to discover more about the causes for the recent development in the chatbot market, as well as how B2B companies are beginning to see the value that chatbots can bring to their online presence.

    The Struggle for Convenience

    Let’s face it, no one wants to sit around for hours on end waiting for a response to a query. As technology advances and clients migrate to more convenient customer assistance options, customer care phone lines are slowly becoming obsolete.

    Chatbots have begun to appear on a variety of social media sites, including Facebook Messenger. Customers will be able to have faster and more seamless customer service encounters as a result of this. They may gently go on social media and get a solution to their question in a matter of seconds.

    These bots are also available 24 hours a day, seven days a week, although most customer support representatives are not. It might be unpleasant for a consumer to wait for a customer support representative to come online and reply after regular business hours, especially if the question is urgent.

    Keeping consumers waiting can result in them leaving their company elsewhere, resulting in a significant loss of revenue. As a result, users and organizations alike have found chatbot availability to be one of the most tempting features.

    Consistency is essential

    Customer service consistency is an aim for almost every B2B company. When two consumers ask the identical question of a customer care professional, they should always get the same answer. This establishes client trust and ensures that customers are never misled.

    When it comes to human customer service representative, you can give them all the same training, but their responses will always be slightly different. That’s understandable; after all, they’re humans, not robots, and it’s human nature to make mistakes now and then. At the end of the day, it’s an ineffective system for businesses to use, which is where chatbots come in.

    Technology is becoming more intelligent

    Eliza - Worlds First Chatbot
    Eliza – Worlds First Chatbot

    In 1966, an MIT professor created the world’s first chatbot. Although this bot could only answer simple questions, it was a significant technological advancement. Over 50 years of research and development have gone into making chatbots the extraordinarily intelligent computers that they are today.

    In many circumstances, it’s difficult to determine whether you’re interacting with a chatbot or a real person, and technical advancements will only make it more difficult. These sophisticated computers are programmed to recognize keywords and respond accordingly.

    These systems have progressed over years of engineering to the point where they can precisely mimic the human brain’s speaking patterns and mental processes. These chats are nearly comparable to those with real customer service personnel due to their human-like language and ability to pick up keywords.

    The Budget-Friendly Alternative

    Every company wants to save money wherever it can, thus cost is a major consideration in the assimilation of chatbots. You should anticipate paying somewhere between $500 and $2500 for your chatbot, depending on its sophistication.

    Chatbots may have a high initial cost, but their ongoing costs are quite low, making them significantly less expensive than hiring an entire staff of customer support professionals.

    Chatbots may cut operational costs by up to 30%, according to Chatbots Magazine, so it’s easy to see why so many B2B companies are making the move.

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    Conclusion

    The advantages that chatbots may give for your B2B company are unrivaled. Chatbots can be a very fantastic tool for you and your business if you are ready to make the initial investment. Chatbots may help enterprises streamline procedures and build long-term relationships with website visitors, thus their popularity is only going to expand.

    FAQ

    Which platform is best for chatbot?

    Lobster by EBI.AI, Chatfuel, MobileMonkey, Aivo, ItsAlive, Imperson, and Pandorabots are some of the top chatbot platforms.

    What are the two types of chatbots available?

    There are two types of chatbots, rule-based and AI chatbots.

    How are chatbots used in business?

    Chatbots improve customer service by being available 24/7 and replying to queries in no time.

  • How Zara is leading the fashion industry with $0 Advertising Strategy

    Early humans figured out a way to cover their bodies to safeguard against weather. The accessories they built were named clothes. The sole purpose of this invention was to protect the naked skin from heat, wind and other normal natural phenomena.

    The way we dress up today is different in different parts of the world, but the purpose has changed dramatically over the years. The purpose of clothing is not only to cover your body anymore, it is to make a style statement, to look apart from the crowd. This has led to a boost to fashion retails all over the world.

    One of the most popular fashion retailers is Zara. We all have heard about it. That expensive brand whose clothes people find aesthetic and boast about it. The same brand has a unique aspect that probably no one knows about. It spends literally nothing on advertising. How cool is that? Such a big name in the industry that too without commercials. This is the article where we dissect the marketing strategy of Zara. Read on.

    About Zara
    How Zara is Succesful despite spending minimal on Advertising
    FAQ

    About Zara: The luxury Icon

    Zara is a Spanish apparel retailer. The company produces and retails clothing items, swimwear, shoes, perfumes and beauty. It was founded by Amancio Ortega in 1975. The age range of customers to which it caters is from 18 to mid 30s. It is also the largest brand under Inditex group. The company specialises in fast fashion. So, what is fast fashion ? The phrase denotes fashion wear that is quick, explosive and thus highly profitable in nature.

    Zara is said to specialise in designing new works of fashion every now and then. It is said according to some reports that this retailer takes just about over a week to produce and get outfits to the stores. Six months is industry average. This sure provides the company a better edge on the fast fashion line of business.

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    How Zara is Succesful despite spending minimal on Advertising

    One of the most unique things that sets Zara apart is that it spends an amount of nuts in its marketing. It has a policy of no advertising. Without advertising the brand is able to hold such a big and premium market share of the world. Here we discuss how does it do this magic.

    Augmented reality shopping

    Zara Shop the Look
    Zara Shop the Look

    The Spanish fashion retailer seems to leave no innovation unturned to woo customers. Zara is entailing tech into shopping, in order to create magic out of this combination. It has introduced augmented reality shopping for customers via their app.

    Basically when you point at a dress at a Zara dress in their store, the sensors in the area will detect that and will show models wearing that apparel. This makes choosing a dress more easy and convenient for customers. The target audience are millennials because they are generally tech-savvy. H&M, a rival, is also trying to hold its hands on building something like this to extend customer experience, a report said.

    Fast Fashion

    Zara is god in fast fashion, it follows a policy of being fast without caring for who is first. Many retailers try to be trendsetters and fashion innovators, but Zara just doesn’t buy that.

    Rather than working to set trends. Its work is to identify the current fashion wave and rapidly surf over it. Its main target audience is teens of 20 something who are always looking for ways to look cooler. Zara does the work for them.

    Taking customer feedback seriously

    We as customers may not take what we say about how we like a brand or hate someone, but Zara does. It is all ears for customer feedback. Anything you buy from the store is the beginning of a transaction with the store. The feedback they take from you is to ensure that the transaction relation remains in the future.

    Anything you report is taken to higher order to build better products. Thus including customers in the designing process is such a good way to build customer loyalty. Today not the company, the customer calls the shots.

    No advertising policy

    Well, the real thing is that, no marketing is also marketing in the case of Zara. How you may ask? People love to buy exclusive stuff. Zara is a brand of which you will not spot a single billboard. This gives a sense of exclusivity. So this creates a chance for customers to be in the cool spot of society. It invests extensively on brand experience rather than ads.

    Store locations

    Zara Store
    Zara Store

    While we can say that Zara doesn’t spend on ads, one thing to look at as an exception is that it spends on locations. Rather than spend on locations it invests in them. Adding to the brand experience. Every Zara store around the globe can be found in famous crowded places. It invests in the appeal of a store, to get as many customers inside the commercial zone.

    Supreme Customer Experience

    Zara Customer Experience
    Zara Customer Experience

    It must be obvious by now, that Zara does everything to get customers a great experience with the brand. It consistently tries to provide more and more reasons to visit their stores again. It doesn’t just want to push their product out, they want to get the people in. They trade in value more than the product. Today’s economy consists more of experience than product.

    Zara knows it well that value today is measured beyond the price. So it is super trend-tight in this manner and high on customer experience. To provide value consistently to its customers, building brand loyalty with fashion enthusiasts.

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    Conclusion

    Zara is all about the customer, it can be said safely. Product used to be the king earlier but not anymore. Zara makes the customer experience the king. It knows that the product will be changed rapidly but brand loyalty is more important and constant. This is what the word “brand” actually means, it means a good image or perception in the eyes of the general public. That is built by being consistent with your value supply. Name any brand in the world, it operates with a similar idea. This is what sets someone apart from being just a different cog in the wheel of the market.

    FAQ

    Does Zara spend on advertising?

    No, Zara does not spends big budget television commercials, internet ads or billboards.

    How is Zara so successful?

    The company is successful because it has a phenomenal operating supply chain and manages its inventory well.

    How does Zara advertise?

    Zara uses anonymous models to advertise their clothes.

  • Who will be the next Global Leader of Cheap Labour?

    There is a unique kick in Unboxing something new, a new gadget, a new parcel because it has a sense of surprise in it. India is a country of festivals and we absolutely love to shop but have you ever wondered how these goods are made ? How do they land in the package ready to be used ? How are we able to get dreamy-deals that save us money ? There is a lot of behind the scenes of making a product, packaging the value in a box.

    In a world as fast as ours, we tend to forget the process and focus mainly on the outcome. This article talks about a product process and how a brand manages to save costs with countries with cheap labour. We will also discuss Pakistan as an emerging nation with cheap labour.

    What is Labour?
    Global sourcing of Labour
    Cheap Labour and its History
    China: The world’s factory
    Cheapest Countries in Asia
    The land of Pakistan
    Is Pakistan the new heir?
    Digital or Online Labour
    Pakistan and Digital Labour
    FAQ

    What is Labour?

    It is said that Labour is handicapped without capital, and our capital is handicapped without labour. The word labour has direct relations with inputs that we put in to get some final product.

    Labour can have many dynamics like mental, physical or social efforts that are required to manufacture something. Essentially on the basis of skillset, labour are of two types – Skilled, Unskilled and in some cases even Semi-skilled.

    As the name suggests they are categorised on the basis of skills and training required to make them work effectively. Unskilled labour is the cheapest form of labour and is required to do work that does not require any sort of training.

    Global sourcing of Labour

    The initial motive of global sourcing of labour is cost savings. With the progress of globalisation, product differentiation in contemporary markets is not that remarkable anymore, to some extent, which leads to a greater emphasis being placed on price competition.

    This has especially been the case with consumer products. Besides cost savings, plenty of studies have also identified quality and availability as critical aspects for global sourcing

    Cheap Labour and its History

    In every society around the globe, employers try to follow the downward trend of cost of labour. Thus, saving themselves the most capital. They pinpoint some stratum of people who are the most vulnerable and employ them with low wages.

    This topic can go further to the ‘apartheid’ faced by the South Africans in contrast to white population. Their wages were as low as one-fourteenth of white counterparts even when they comprised around 80 percent of the total population.

    Government implementing racist policies, commended employers with greater power over this section of workers. Which in turn employed discrimination among the general public.

    Another method employers follow is ‘De-Skilling’ which means to eliminate a skill that is required for a job. Making it easy for a worker to be replaced. This drives down labour cost.

    New technologies are also a way to increase competition among workers resulting in less wages. This makes the labour cheap and employers end up with more surplus. These are the usual cases in the world of manufacturing but there are some more natural ways on how labour can be cheap.

    Factors like economic development, growth of a nation and per capita income of citizens of the country matters in determining the cost of labour. China has been a global player.

    China: The world’s factory

    China is considered as a factory for the whole world, the reason being the huge population and cheap availability of labour. This trend was followed for a long time and now it is up for a spin. The world demographics are changing and we are witnessing a downward trend in the employability of labour, the prime reason is rising labour costs.

    Due to rising demands of people and rising cost of goods, China is not prized as the ‘cheapest’ country to produce goods anymore. Moreover this phenomenon has led some foreign countries to exit the country and find their nest somewhere else. There are several reports on how the trend is moving.

    According to one Report, it is observed that hourly rates in Mexico are lower than that of China. This might not be good news for monopolist China but it is surely good for developing countries where labour is relatively low.

    Cheapest Countries in Asia

    When the world’s factories are becoming a little expensive, the biggest players in the manufacturing sector are looking for a shift. The new home should obviously be cost effective. To answer this question satisfactorily, we will have to look through a lens of cost. The cheapest countries in the largest continent of the world i.e. Asia are listed below –

    • India
    • Pakistan
    • Nepal
    • Sri Lanka

    Included a Forbes article. This essentially shows where the manufacturing giants could move their base to. The list coincides with the trends that we see every other day, like Tesla coming to India, Apple pondering over ideas to start a manufacturing unit in India, Pakistan becoming the next hub for cheap labour in the world and much more. These are the hotspots where new industries are eyeing for better sustainability.

    The land of Pakistan

    Pakistan is the fifth most populous country in the world with a population of over 200 million. These statistics make it an important player in the world. Several studies have concluded that the country entails a good number of workers and manpower. With these numbers we can safely say that the country is rich in workforce.

    Is Pakistan the new heir?

    A populous country as Pakistan with abundance of labour seems a good choice for industries all over the world. The abundance can be a signal of cheap labour that can be used to produce goods and services with ease and with better efficiency.

    Salman Shah of ‘Taskforce on Textile’ during the TEXPO-2019 seminar mentioned that a recent survey concluded that the labour unit in their work in this domain is much cheaper than that of the dominant China. The textile expo (TEXPO) also witnessed clothing brands‘ total presence and active participation during the event.

    Moreover, rather than dismissing it as an impediment, we can use this unique aspect as a benefit for our nation. He also mentioned that this trait can become very useful when we talk about China-Pakistan economic corridor projects. Cheap labour in Pakistan can help build a soft spot for the country in the world where it already faces other economic and relational issues.

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    Digital or Online Labour

    What is digital labour? How is it different from online labour ? these questions might be popping in your head. The funny thing is that it is easier to understand. There is a famous quote that goes like this – “Software is eating the world”

    Almost all people on this planet are witnessing this (Except fewest of third world places) phenomena. We live in a digital era and we work digitally. You are reading this blog on a mobile or other device digitally. So you can easily see the blanket of technology that the world is wearing right now. It’s beautiful and gives us a sense of abundance.

    Examples of digital labor might include on-demand platforms, micro level of working and data generated by users of digital platforms like our favourite, social media. Digital labor generally describes work that entails a variety of online tasks. If a country has the structure to maintain this kind of digital economy, then this form of labour can incubate income for citizens without the limits of physical obstacles.

    Christian Fuchs cites that of the world’s 2,000 largest transnational corporations 11.6% fell under the umbrella of communications and digital media. Tech companies like Google, Amazon, etc. are shaping the economy in exciting ways.

    Pakistan and Digital Labour

    Online Labour Supply
    Online Labour Supply

    A report by the International labour organisation concluded that Pakistan already is the third largest provider of labour for digital or online platforms globally. The report also mentioned that India is the biggest labour supplier. Digital labour can be categorised in two types, location based and online web based.

    The web-based platforms are defined in which tasks are performed online or remotely by workers without being physically present. “These tasks may include translation, legal work, financial and patent services, designing and software and freelancing.

    Location-based platforms on the other hand are those done in person in specified physical locations by employees. These can include taxi driving, delivery services and home improvement (plumber or electrician), domestic labour and caretakers.

    Conclusion

    We are witnessing a decline in the Chinese empire of cheap labour. This is true for sure. While companies search for alternatives for meeting their manufacturing demands, Pakistan is going to be seen.

    On the other hand, India is a big player and it will shine in the search of  manufacturers to find a better place. However, the filter of cheap labour is sharp enough to cut India from the picture and put Pakistan in the spotlight. Who will rule this industry is hard to say because there are a lot of variables involved.

    Variables like globe conditions, Pakistan’s relations with the world and need shifts of brands. We live in a beautiful world of change and numerous probabilities. We can study numbers to tell a story but the reality may unfold in its own fashion.

    FAQ

    Is China still the Low Labour cost country?

    No, due to the rising demands of people and the increase in the cost of goods, China is no longer regarded as the ‘cheapest’ country to manufacture goods anymore.

    Is Indian Labour cheaper than China?

    The hourly wages in India are five times less than in China.

    Can Pakistan become the next cheap labour country for the world?

    Yes, Cheap labour force in Pakistan can help attract foreign industrialists.

  • Simplilearn Business Model | How Does Simplilearn Make Money?

    Simplilearn is one of the leading certification training providers which provides online professional courses in disciplines such as Cyber Security, Cloud Computing, Project Management, Digital Marketing, Data Science, AI, and Machine Learning, and many more.

    Simplilearn won the 2021 Stevie Silver Award for Customer Service Success for the fourth year in a row and fifth time overall.

    Let’s see how it caters to the training needs of professionals and earns money. The article covers:

    About Simplilearn
    Business Model of Simplilearn
    What’s unique about Simplilearn?
    How does Simplilearn make money?
    Simplilearn Social Media (06 Nov 2021)
    Conclusion
    FAQs

    Highest Paying Certification Course of Simplilearn

    About Simplilearn

    Simplilearn was founded by Krishna Kumar in 2009 with the purpose to help professionals and enterprises to succeed in the fast-changing digital economy. The company provides outcome-based online training across digital technologies and applications such as Big data, Machine learning, AI, Cloud Computing, Cyber Security, Digital Marketing, and other emerging technologies.

    About Simplilearn Founder – Krishna Kumar

    Krishna Kumar | Simplilearn | CEO
    Krishna Kumar | Simplilearn | CEO

    Krishna Kumar completed his Bachelor of Engineering degree from NIT, Suratkal, India. Before Simplilearn, Krishna was the Co-founder and COO at Tech United, a software product company which he exited successfully in 2007 after selling it to a publicly held company. Initially, Simplilearn was started as a technology blog. Later, it became a professional learning startup for project management-related topics.

    Simplilearn – Area of Operation

    Simplilearn is based in San Francisco, Raleigh, North Carolina, and Bangalore, India Simplilearn has helped more than two million professionals and 2000 companies across 150+ countries to get trained, acquire a certificate, and reach their business and career goals.

    Simplilearn – Key Products and Services

    Simplilearn, an online learning platform, began with a project management certificate called Project Management Professional Certification.

    After 4-5 years, it manages to get big and enter into different sectors like IT, management, business analysis, banking, and data analytics.

    In 2011, Simplilearn started to offer additional courses across categories like cybersecurity, cloud computing, project management, digital marketing, and data science. Simplilearn now offers online training, blended classroom training, and exam practice tests in over 400+ courses across 11 major categories.

    Its most popular courses are Artificial Intelligence (AI), data science, digital marketing, project management, cloud, and DevOps.

    The companies’ high engagement curriculum includes self-paced online learning, instructor-led live virtual classrooms, hands-on projects, student collaboration, and 24/7 global teaching assistants.

    Simplilearn has seen a 200% growth in demand for Programming Courses and with that, it has launched a three-pronged approach to take on the goal of training and placing 10 lakh programmers in India by 2023.

    Simplilearn – Target Consumers

    Simplilearn focuses on students and working professionals. It has a paying customer base of over 3 lakhs.

    Krishna Kumar says “We help in providing a learning machine and help you identify if that’s the right fit for you. Maybe there’s something else that is most relevant for you and once you’ve decided, our instructors will teach you. And while you’re learning that topic, you can interact with fellow students and the instructor, and do a lot of practice. Our teaching assistants are available 24/7.”

    Business Model of Simplilearn

    It bridges the gap between the educational institutions and the candidates to gain the best knowledge and proficiency. The courses that are offered by Simplilearn, are certified by Purdue University and IBM. It offers both free and paid courses.

    ‌‌The candidates who are interested in the desired course need to register first by creating an account on Simplilearn. Then, to avail paid courses they have to pay the fee.

    It’s 70% of domestic business comes from cities like Delhi, Mumbai and Bangalore. In 2019, Simplilearn signed a Memorandum of Understanding (MoU) with National Skill Development Corporation (NSDC) to upgrade their digital skills.

    33 courses available in Simplilearn are accredited by NSDC making it a key contributor to the government skill program. The company’s main focus is to get deeper into categories that are going to dominate the tech space which includes cloud, data science, machine learning, and artificial intelligence. Simplilearn derives 30% of its business from reskilling and upskilling different enterprises.

    What’s unique about Simplilearn?

    The thing that makes Simplilearn different from its competitors are:

    • Courses are Purdue University and IBM Certified.
    • Good structure program and excellent lesson plans.
    • Availability of exclusive hackathons and Ask Me Anything sessions by IBM.
    • Capstone from three domains and 25+ projects with industry datasets from Amazon, Uber, Comcast, etc.
    • Job Placement Assistance.

    How does Simplilearn make money?

    ‌‌Simplilearn claims around 60% of its revenue come from overseas markets. Revenue is collected from the candidates after the completion of the program for their certificates. It also earns by charging instructors a fee for every course sale made on its platform.

    ‌‌For the enterprise business deals, Simplilearn receives money from the early-stage startups like Myntra, Swiggy, and Flipkart who use the platform to train their employees. Simplilearn works as B2B(Business to Business), as well as It, operates on a B2C(Business to Consumes) basis.

    Simplilearn Social Media (06 Nov 2021)

    • Facebook – 3,63,323 people like this
    • Instagram – 58,068 Followers
    • Twitter – 28,991 Followers
    • LinkedIn – 2,77,984 Followers
    • Youtube – 1,480,000 Subscribers

    Conclusion

    During the pandemic, the demand for online education has already increased, thereby, increasing the demand for edtech companies. Taking this as an opportunity, Simplilearn comes forward to widen the scope for students and professionals by adding more courses that match the need of its target audience. It carries a strong and effective business model that helps individuals to acquire the skills they need to thrive in the digital economy by providing certification courses.

    FAQs

    What is Simplilearn?

    Simplilearn is an online platform that provides professional certification courses on topics like Cyber Security, Cloud Computing, Project Management, Digital Marketing, and Data Science.

    Who is the founder of Simplilearn?

    Krishna Kumar is the founder of Simplilearn.

    Who are the competitors of Simplilearn?

    Simplilearn’s top competitors include:

    • UpGrad
    • Skillslash
    • Great Learning
    • Digital Vidya
    • Coursera
    • Edureka
    • Unacademy

  • Why Jeff Bezos considers Fire Phone Failure a Good Thing?

    These are the words of the richest man on earth, the founder of Amazon, Jeff Bezos. He loves failure, because he knows very well that the only way to success is through failures. That is why he didn’t mourn the failure of the earlier launched innovation Fire phone. The phone failed deliberately but it wasn’t something that can move the roots of Jeff. He is not one of the easily shaken souls. Here in this article we will articulate the story and learn about the whole episode.

    “We are working on much bigger failures right now” – Jeff Bezos

    What is Amazon?
    How was the Fire Phone Idea ignited ?
    The Fire Phone
    What made Fire Phone unique from normal phones
    The Fall of Amazon Fire Phone
    Why does Jeff Bezos consider Fire Phone Failure a good thing?
    FAQ

    What is Amazon?

    You must be living under a rock if you don’t know what Amazon is. Amazon is the world’s biggest E-commerce platform founded by Jeff Bezos. It also focuses on cloud computing, Artificial Intelligence and digital streaming. It quite literally covers the whole world, by the enormous impact it creates.

    How was the Fire Phone Idea ignited ?

    Can you tell which is the most famous device to read books digitally ? Well, if your answer is ‘Kindle’ then you are right. Kindle is the brainchild of Amazon and essentially a brainchild of Bezos.

    As you may already know, Amazon was built on the foundation of selling books online. In further that direction, Jeff innovated and anticipated digital reading that led to Kindle.

    Just after witnessing the popularity of Kindle, Jeff decided to disrupt another segment, known as the smartphones. The entrepreneur decided to make a phone that will disrupt the market with its specificities.

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    The Fire Phone

    Jeff Bezos with Fire Phone
    Jeff Bezos with Fire Phone

    On June 18, 2014 the Fire Phone was unveiled for the first time to the public. At the first glance it really looked like any other phone in 2014. So the physicality of that phone was not much of a show starter. However the cool thing was the experience that the phone provided.

    What made Fire Phone unique from normal phones

    Fire OS

    Fire Phone - Fire OS
    Fire Phone – Fire OS

    An operating system free of the Google elements, that’s unique. The reason behind this uniqueness is that we all know Google dominates the android market in the world. Amazon did something different with that, it tried to make its own OS, a redesigned app tray, settings, framework everything new. A new app store, a new UI, to match the new elements of the Fire Phone.

    Dynamic perspective

    Fire Phone - Dynamic Perspective
    Fire Phone – Dynamic Perspective

    This is the biggest “flex” that the phone showcased. Fire phone can be said to be the first phone with a dynamic perspective. Amazon can be said to be the first brand to scale it. The phone had depth, that means you can actually tilt the phone left to right and see the sides of apps, maps, images etc. That can even be used as a gesture to move through book pages or any list.

    This was the innovation that Jeff wanted to present to the world. A new way to navigate through your phone. This was the creative challenge that Jeff posed in front of the engineers.

    The basis of this dynamic effect was that it used the phone camera to constantly track the user’s head to tilt the screen according to the head angle. As some people opposed questions on its practical uses, This was seen as such a unique innovation.

    Firefly

    Fire Phone Firefly
    Fire Phone Firefly

    The scan and search anything option was another bright LED to the belt. Amazon added this feature to strike a tough competition to the other smartphones. The Firefly option is a feature that you can use to scan and search almost any item with your camera.

    Some people argued that this was an amazon promotional feature and to be honest, it was. More than that it was one of the uniqueness that the phone entailed.

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    The Fall of Amazon Fire Phone

    Amazon didn’t released the sales figures for any of its devices, but based in part on its quickly declining prices, it announced a $170 million write-down; analysts have judged it having not been commercially successful. Amazon ceased production of the Fire Phone in August 2015 and discontinued sales soon after.

    Why does Jeff Bezos consider Fire Phone Failure a good thing?

    “If you think that’s a big failure, we’re working on much bigger failures right now — and I am not kidding,” he said. “Some of them are going to make the Fire Phone look like a tiny little blip.”

    All these words show the bright and healthy innovation potential that Amazon has in store. Jeff has such a positive outlook towards even a big failure like this. He says that a small amount of win pays for all the losses.

    Jeff is famous for his attitude that he showcases even in adverse situations. What really matters for people is to experiment and embrace failures. This mental model goes well with corporations too.

    Companies who fear failure do not go much ahead in the world. It is with the positive outlook towards a failure what makes it a stepping stone for growth or success. Jeff does this thing well.

    He has nearly created billions of dollars of failures within Amazon, None of them matters to him. He says experimenting runs through Amazon’s veins and it is quite evident with his views and his past experiment’s track records.

    Conclusion

    If we talk about Jeff Bezos for more than five minutes, we all will feel motivated and this article will turn into a motivational speech. The reason is simple because of the wonderful personality that the person has, or gained through years of hard work.

    It is not just some sort of being at the right moment at the right time, It is more than that. If you have read the article with your full consciousness then the secret would have unfolded in front of your eyes.

    Speaking of the Fire phone, it was truly a fire. Many people argue that the phone could have been an app because customers would be comfortable interacting with that. Whatever it was, we can largely see it as an experiment that came out of Jeff’s brain and failed which truly didn’t matter.

    The Fire phone flight ended with losses of dollars and earnings of smartphone knowledge. The world is always witnessing such flights and failures but all it takes into account is the try.

    FAQ

    What are the key characteristics of Jeff Bezos?

    Jeff Bezos is a Big Thinker, He has very high standards, he is Strategically Patient and is an Amazing Learner.

    Has Jeff Bezos had any failures?

    Yes, Jeff Bezos has faced many failures from which the biggest failure is the Fire phone.

    How did Jeff Bezos start Amazon?

    Jeff Bezos began developing the software for the site, which he called Amazon.com. It sold its first book in 1995.

  • Business model of MakeMyTrip | How does MakeMyTrip make money

    When it comes to tour and tourism, MakeMyTrip holds a leading position in the market. The very popular Indian travel company, MakeMyTrip, launched in the year 2000. Ever wondered how this company makes money? Or how its business model is designed? Well, in most simple words, the business model of MakeMyTrip entirely revolves around the online travel services it offers.

    MakeMyTrip provides the facility of booking tickets for holidays, flights, busses, cars and trains. This travel company has made booking tickets very convenient for Indians. Also, it has improvised the travel conditions and arrangements in India.

    In this article, we have discussed the business model of this amazing travel company- MakeMyTrip and how it makes money. So, let’s get started!

    About MakeMyTrip
    Key services of MakeMyTrip
    Target Audience
    Where does MakeMyTrip operate?
    Business Model of MakeMyTrip
    What is unique about the business model of MakeMyTrip
    How does MakeMyTrip make money?
    FAQ

    About MakeMyTrip

    MakeMyTrip is a very famous Indian travel company, established in 2000. The company provides some very amazing online travel services and offers. With MakeMyTrip, you can book tickets for flights, hotels, buses and many more.

    This famous travel company was founded by Deep Kalra. The company directly communicates with the customers through its verified online platform and deals with all customers’ concerns related to travelling. In other words, MakeMyTrip is the perfect guide for you to plan your vacation.

    MakeMyTrip owns around 30+ franchised stores along with 14 different stores across 28 cities. In the year 2012, the company developed and launched its mobile application for its customers that provides over 10 lakh routes all around India. MakeMyTrip has made travelling super cool and convenient for the Indians by helping them in all aspects of travel requirements.

    Key services of MakeMyTrip

    MakeMyTrip provides various beneficiary services for its customers. Some of them are booking tickets for any sort of travel media such as flights, trains, buses or many others. Besides this, booking tickets for hotels, hire cars, and holiday packages, etc.

    Apart from this, there are many third-party services also available such as travel insurance, Visa and many others, especially for travelling in any other country.

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    Target Audience of MakeMyTrip

    There isn’t any specific group that MakeMyTrip separately focuses on. The travel company focuses on different groups with different specifications and segments. It attracts all kinds of age groups and genders. Although the company does prefer customers who have a vivid connection with the internet.

    Where does MakeMyTrip operate?

    MakeMyTrip is an India-based travel company but the company has expanded itself into foreign countries as well such as America, UAE and many others. MakeMyTrip has well-functioning offices in New York, Bangkok, Dubai, Kaula, Singapore, Phuket and many others.

    Business Model of MakeMyTrip

    The business model of MakeMyTrip is very strategic and mainly based on customer service. MakeMyTrip provides the audience with great offerings and also, facility to book tickets.

    India, being the fastest-growing digital travel agency that basically benefits brands like MakeMyTrip in making them a strong contender in the global market. And for this, their business model entirely strategies the marketing, price, name, promotion and location. The company provides satisfaction to its customers through its amazing customer-centric services.

    Apart from this, MakeMyTrip provides its services at affordable pricing rates. MakeMyTrip provides an e-marketplace that is basically available for a huge range of audiences across the world.

    The company promotes its services and offerings through electronic banners on television commercials, websites and various other channels. Also, it promotes through offline retail stores.

    Today, MakeMyTrip has become an elite brand and has great strategic planning including various marketing schemes and campaigns.

    What is unique about the business model of MakeMyTrip

    MakeMyTrip is way beyond just creating the most amazing experience for customers. In the competitive marketplace, MakeMyTrip offers the facility of customer testimonials that give strong feedback on the company’s customer service managers. And the great customers’ experience is what favours the company most.

    In addition to this, MakeMyTrip works on various tactics and technologies to improvise its products and services. This brings out a great additional advantage to the company, especially over its audience. Along with this, MakeMyTrip provides an advanced place to its retail stores for showing the company’s products.

    Revenue of MakeMyTrip
    Revenue of MakeMyTrip

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    How does MakeMyTrip make money?

    MakeMyTrip has its major revenue source from the fee it charges over the online bookings. Although the company provides the most affordable flight tickets, that’s what attracts the customers more. They do this by purchasing the tickets from the private airlines by a huge number and they then reduce the charge and sell these tickets to the customers and earn a good extra commission fee.

    MakeMyTrip earns huge profit through the flight tickets but as there aren’t many options available with the trains that’s why they did not offer this service over train tickets. The company has over 5000 to 10,000 registered hotels and around 1000 registered busses.

    Apart from this, the major source of revenue is from marketing of various companies like Tata, Kingfisher, SpiceJet and many others. They also earn revenue by advertising holiday packages of various hotels on their website.

    Conclusion

    MakeMyTrip is known as the leader in the travel market in India. The company follows the Business-to-consumer digital business model. It is amazing with its services and products, both online and offline platforms. The travel market in India has grown at the rate of 40% and a huge market share is taken by MakeMyTrip.

    This clearly shows that the company has its marketing strategies very effective and efficient. MakeMyTrip earns a good amount of revenue and has a strong marketing position. Stay tuned for more content!

    FAQ

    Who is the founder of MakeMyTrip?

    MakeMyTrip was founded by Deep Kalra in 2000.

    What is the revenue of MakeMyTrip?

    The revenue of MakeMyTrip was 163 million U.S. dollars as of 2020.

    Who are the competitors of MakeMyTrip?

    MakeMyTrip’s top competitors include Flight Centre Travel Group, Treebo, TravelTriangle, Yatra and ClearTrip.

  • How do Brands Leverage Moment Marketing? | Examples of Moment Marketing

    Businesses are always looking for new methods to interact with consumers, and they’ve started turning to moment marketing to convey their point over more effectively. Like you can see in cases here, firms were wise with their use of fads to attract folk’s interest for a great time.

    What is moment marketing?
    How did these Top Brands Leveraged Moment Marketing
    What is ambush marketing?
    FAQ

    What is moment marketing?

    Moment marketing is a tactic that allows firms to capitalize on any current occurrence across the world. It might be headlines or a current event to make reading material in order to amaze their viewers online, and it is now one of the primary strategies that businesses utilize on their own site to strengthen their connection with their customers.

    Moment marketing is defined as the dissemination of promotions and campaigns that are inspired by recent events. It is being used by everyone from meal shippers to FMCG companies to govt agencies to capture customers’ attention on online platforms.

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    How did these Top Brands Leveraged Moment Marketing

    Sacred games tweets:

    Sacred Games Moment Marketing
    Sacred Games Moment Marketing

    The sequel to Sacred Games was going to be released. It was a tense situation. As a result, firms took advantage of the chance to build ads rich in criticism and conversation from the show. Millennials like being updated upon each fad on social sites at all times, and this is where moment marketing comes in.

    Amul – The taste of India:

    Amul Moment Marketing
    Amul Moment Marketing

    Amul, a milk company is among the top moment marketing case studies. Several content writers in India have become known for writing about the brand’s classic advertising, which people still anticipate.

    Amul Trump Moment Marketing
    Amul Trump Moment Marketing

    In reality, Amul has shifted platforms over time, shifting from actual adverts to social networks, and they have stayed pertinent even during pandemics.

    #RahulBose

    Rahul Bose Tweet
    Rahul Bose Tweet

    A similar instance occurred a few years back and was made public. Rahul Bose, a Bollywood actor, was vacationing at a five-star hotel in Chandigarh and requested 2 bananas after his gym.

    The bananas were sent, but the fee was INR 442.50. He posted the bill on Twitter, often to his surprise, and a chain of debates ensued. In this situation, brands quickly began promoting their views with the help of moment marketing.

    Rahul Bose Moment Marketing
    Rahul Bose Moment Marketing

    Moment marketing does not just encourage innovation, but it also piques people’s interest and keeps them engaged until it becomes ambush marketing.

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    What is ambush marketing?

    It’s a marketing tactic in which a marketer disrupts an occasion to compete with other marketers in that context.

    P. V. Sindhu’s win used as a tactic – A short case study

    This year, India was lucky to earn seven medals at the Tokyo 2020 Olympic Games, including a bronze medal by our star badminton player P.V. Sindhu, who made a big impact. So, in an act of moment marketing, numerous businesses pushed their ideas into the discussions that were currently occurring in order to capitalize on her triumph and, in that regard, appeal.

    Pv Sindhu Moment Marketing
    Pv Sindhu Moment Marketing

    Brands took advantage of the situation. To capitalize on the present scenario, P.V. Sindhu’s agency, Baseline Ventures, stated that she could file a lawsuit on 20 brands, including FMCG corporations and even government entities, seeking a claim of worth up to Rs 50 crore. All this occurred when a fine line was crossed between moment marketing and ambush marketing.

    The issue comes when a firm takes some risks in order to garner misperception in the eyes of people in hopes of gaining traction. Let me offer you an instance: If P.V. Sindhu is an endorser for a toothpaste company like Colgate, and she won a bronze medal, Colgate is clearly filling their social platform with key information because she is their endorser, but suppose Pepsodent does it in lieu of moment marketing. It’s where the issue will emerge, and the endorser will be held accountable for the brand they are promoting.

    So, in recent times, when the planet is controlled by social networks and folks have relatively busy lives, moment and ambush marketing have become increasingly popular. There are millions of prospects in moment marketing, but all affected parties, including brands, agencies, and innovative authors, must reassess their advertising strategy to make the best of the situation.

    Conclusion

    When it pertains to sports activities, official news, films, Tv show, and events, moment marketing is an excellent approach to engage with folks and capture their interest. For the incredible chance, you should combine time and material.

    In a nutshell, it creates genuine relationships among firms and customers, makes it simpler to be found, and boosts brand recall. Someone tweeted a remark on digital marketing that said, “The good news is that nothing lasts forever, and the bad news is that nothing lasts forever.” I’m not sure if you want to live in the present, but brands are obsessed with it.

    FAQ

    How do you create a marketing moment?

    Make sure your product is the Center of your Campaign, Throw in some humor, and Connect your brand with the latest events.

    What is moment marketing?

    Moment marketing is an approach that focuses on targeting your business to consumers at the moment it matters.

    What is the best marketing strategy?

    Educate consumers with your content, Personalize your marketing messages, Invest in original research, and Update your content regularly.

  • Amazon Agritech | How Amazon Enters Agritech to Help Farmers?

    Amazon has set high standards in e-commerce as well as in many other fields. But the Agritech sector is a new sector on which Amazon is focussing right now due to many different reasons. And also, when it comes to agriculture, you cannot ignore India. Amazon also has big plans for the Indian Agri sector. The Indian agriculture sector is currently experiencing a lot of influence from private players. Amazon is trying to Invest in the Agritech space in India to make some modern changes. This may secure the farm produce in the Indian agricultural sector. Let’s jump into the topic to know more about it.

    How will Amazon help farmers?
    How is Amazon Entering Agritech?
    Benefits of Amazon Agritech
    Government Plans For The Agritech Sector
    Conclusion
    FAQs

    How will Amazon help farmers?

    Amazon retail is trying to help farmers in India by launching its agronomy services which will notify the farmers about important crop-related data. These early notifications and information will help the farmers to make the necessary decisions for their crops. Now, this whole process takes place through an application through which necessary information is conveyed to the farmers related to crops, and it’s production. Amazon has entered the Agritech sector to secure farm produce. This farm produce yields two-thirds of the country’s $1 trillion retail spendings. Also, in India, many crops are not grown throughout the year. The government aims to bring in the private players to improve the farm work by yielding good results from suitable technology available. Amazon is a private giant which can invest a nice amount of money in reforming the agricultural sector.

    Reactive and proactive plant programs supported by Amazon will provide cutting-edge technology to farmers and other crop growers. The dedicated mobile application will provide farmers with real-time advice and information on crop data and insights. As a Private company, Amazon tends to stretch its boundaries in different sectors, and the Agritech sector is perhaps one of the most developing sectors in the current time. Also, crop data needs critical analysis to be processed, and farmers will proceed accordingly, which will improve the crop produce. Private players could fulfill these factors in a better way if they cooperate with the government.

    How is Amazon Entering Agritech?

    Agronomy services launched by Amazon retail is a new footprint by a private company in the Agritech field of Indian agriculture. This system will provide early guidance and advice to farmers on crop production and other insights. Also, Amazon focuses on machine learning to improve productivity and build a more convenient supply infrastructure. According to Amazon’s Indian senior officials, this technology will improve the quality of crop production and will yield good results.

    Also, with this launch, the Amazon Agritech solutions have created an ecosystem through agronomist-powered field interventions. Also, tools were added to track down these field interventions. But every step requires huge support from the farmers on the field. Amazon needs to deliver good quality services with an agreement to supply vegetables and fruits of desired quality. Supply chain is a big challenge for Amazon. Old supply chains may damage the product, which will result in loss of trust and money. As a private giant, it’s not that difficult for the company to invest a big amount in the modernization of the supply chain.

    Benefits of Amazon Agritech

    Amazon Agritech
    Amazon Agritech

    This system makes sure that farmers make accurate decisions about their crops on time. The instructions and timely advice help the farmers to get early data on how to manage crop production and increase farm produce. Also, the supply chains can be processed properly now with the interface as well as farmers will get informed about rotten or damaged fruits and vegetables. This will improve the quality of fruits and vegetables, which will reach millions of customers. The government is also aiming to harness profit through suitable technology available. India is a developing nation, so the agricultural sector must get proper reforms.

    Also, farmers are showing interest in tech-led innovation in the field of farming. Smart farming methods will make it more profitable for the farmers to grow proper quality crops without much wastage. This technology will improve the results of the farming process and will deliver better. Amazon retail has also planned a proper temperature-controlled supply chain. This will ensure proper and safe transportation of the produce from the farm to the processing centers. After this, the packing process will take place with proper monitoring and will be dispatched to Amazon stores near customers. The Advancement in technology will help in upgrading the older ways of supplies and gathering farming data.

    Government Plans For The Agritech Sector

    The government of India is seeking a partnership of private giants to revolutionize the Indian agricultural sector. The technology provided by Companies such as Amazon will help to increase the farm yields. As a developing nation, India may see huge reforms in the agricultural sector in the next decade from a more modern perspective. The introduction to machine learning and artificial intelligence with modern supply chains and better advice on crop production are some of the examples. Some of these have already arrived in India,  as the Amazon Agritech.

    The aim is to increase profit revenue by increasing the farm produce. Also, time delays in supply chains can now be corrected, saving valuable time and capital. Farmers will get early warnings and important updates about the crops, which will help them to work more efficiently in the fields.

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    Conclusion

    The government and private entities will work together to bring suitable reforms to the sector that employs half of India’s population. Also, the agricultural sector contributes highly to India’s GDP, which is why it needs a good amount of investment too. Private companies have huge capital reserves to invest in technologies which can be helpful for the government to bring reforms. But the end decision must stay with the farmers who will work day and night in the crop fields to feed the entire nation.

    FAQs

    What is Amazon Kisan store?

    Amazon India’s Kisan Store help farmers with agriculture inputs like seeds, farm tools & accessories, plant protection, and many other agricultural products at competitive prices.

    What is amazon agronomy service?

    Amazon’s agronomy services empower farmers. It helps in following ways:

    • It gives them timely advice on farming.
    • It enables them to make proper decisions on actions needed for their crops.
    • It introduces machine learning technology for better production.
    • It helps in building a robust supply chain infrastructure.