Today, writers can reach millions of people around the world by writing blogs. They can earn money by leveraging the Google and Facebook ad models. This might seem a safe option to make money but, it also restricts the creativity of the writers.
Writers are not able to create a direct connection with their readers because they have to constantly think about the on-page and off-page SEO.
Writers know that if they don’t rank their article on the first page of Google they won’t get the traffic due to which they will not earn money. This was a big problem for writers. To put an end to this, Substack was launched in 2017.
Within a few years, it has empowered the relationship between a reader and a writer. It has gained immense popularity and people are loving this platform. Substack has over 5,00,000 paying subscribers.
Let’s understand the business model of Substack and how it makes money.
Substack was founded in 2017 by Chris Best, Jairaj Sethi, and Hamish McKenzie. The headquarters of the company is in San Francisco, California, USA.
It is an online platform that helps writers launch their email newsletter. Writers can earn money by collecting a subscription fee from email newsletter subscribers.
The platform provides all the tools to the writers which allow them to write high-quality content. The best part about Substack is that writers can publish unlimited content for free.
Business Model of Substack
The business model of Substack is simple. It provides all the tools to the writers to write content and earn money through subscriptions.
You can manage your email list, add subscribers, send emails and analyse the analytics. Readers can subscribe to your email list monthly or annually.
Apart from making things simpler, Substack has made the bond between readers and writers stronger in the following ways:
Freedom to Write Content
Page view metrics and advertisers have taken away the freedom to write authentically from the writers.
Most writers feel that their creativity is lost due to these algorithms and metrics. Substack helps the writers to write content on their terms and build a genuine audience.
Writers can keep all their subscription lists and content with them. Substack provides all the editorial and publishing tools so that writers can make engaging content. Most importantly, the platform has provided financial freedom to the writers.
Substack V/S Website
Now, the main question lies in why should someone use Substack instead of simply creating their own website?
See, if you opt for a website you need to think about the domain, hosting, website design, payment integration, funnel management and a lot more. You have to hire a professional website developer to do all of these things.
You have to figure out and make all these arrangements by yourself. Now, tech-savvy people won’t find it tough to do all these. This will also take a lot of time and you also need to invest money. But People who just want to write engaging articles without being involved in all these technical customs use Substack.
Building Trust
Trust is a very significant aspect of any business. Substack helps to build trust between the readers and writers. Due to the newsletter subscription model, writers engage in a one-to-one conversation with their readers as the article is directly sent to the email inbox.
Since there is no algorithm pressure on the writers, the main focus stays on creating quality content for readers. Writers can understand what a reader finds interesting and write content accordingly.
Substack producer, Valerio Bassan quoted, “As a publishing tool, newsletters provide a solid answer to the number one question in media today: how can we rebuild trust between us and our readers?”
Using Substack writers can build their own brands. Emily Atkin who previously worked at The New Republic and ThinkProgress moved to Substack. She is now the author of the climate-focused Substack newsletter. Emily now earns more money as compared to her previous salaried journalism job. She is an excellent example of how Substack is changing the lives of many writers.
Substack makes money by charging a 10% commission to every paid subscriber. So, until you make money using Substack, the platform also does not make any money. The minimum subscription fee is $5 per month to $75 per month.
To make more money the main focus of Substack is to get more writers to produce content on their platform and make those writers earn money.
The subscription model incentivizes the writers to make engaging content and give more value to their readers. Contrast this to an ad model where the incentive for writers was to gain as much attention as possible.
Future of Substack
In the future, Substack may add discovery tools like a recommendation engine which would help readers find interesting content according to their preferences. This will boost the relationship between writers and readers.
Podcasting is another great opportunity. Substack already allows its writers to distribute free podcasts. These podcasts are monetized through ads. Rather than following the ad model, Substack can add a paid subscription option for podcasts. This will help both the company and writers to earn more money.
FAQs
How does Substack work?
Substack helps writers publish their content, build an audience and make money by collecting a subscription fee from email newsletter subscriptions.
How does a Substack subscription work?
A Substack subscription starts from $5 a month and can go upto $75 a month. The price goes up as you increase the number of subscribers.
How does Substack make money?
Substack makes money by charging a 10% commission to every paid subscriber.
Is Substack profitable?
Yes, Substack is profitable as writers can build their brand on the platform and earn money by collecting a subscription fee from email newsletter subscriptions. Writers can leave the platform at the time they want and keep all the subscription lists with them.
Does Substack own your content?
No, all the content you publish on Substack is owned by you.
The idea of launching an MVP has erupted significantly in recent years, it’s a standard procedure both for entrepreneurs and formed tech giants. However, like most ideas that become popular, there’s a lot of misconception.
The MVP is the edition of a fresh model that enables your group to gather the most authenticated knowledge about consumers with the minimum effort. It is a tiny product with three essential aspects:
It is either used or purchased by folks.
It is simple to use.
Using the resources at our disposal, we could send it as we want it.
Things You Should Know Before Creating MVP
To create an effective MVP, you must first identify the purpose.
User Section
A team of members sharing related attributes. It is critical to determine who the merchandise is for, and who this isn’t for. A popular brand blunder is to try impressing all and risk appealing none.
Issue
Don’t try to solve all of your issues in one go; instead, tackle them one at a time. It’ll assist you in focusing on one primary problem that irritates clients the most. Once you’ve resolved that issue for people, you could move on to more issues.
Workaround
After you’ve settled on the issue, you would like to fix, you may come up with more creative solutions. It is critical to narrow down to a viable solution. Focus on the appropriate alternative and what it’ll involve then you can get input rapidly without wasting a lot of money.
Limited User Interface
This implies that your MVP must be sellable and usable. You must determine and draw a line between an item that can be utilized and an item that folks will use. Test on your own and with your group to determine what is suitable for rollout.
How to Launch MVP?
Thorough Analysis
Before you begin, you must recognize the issue and its quick fix. You’ll respond to a series of queries, including:
What issue is your MVP supposed to fix?
What types of customers will be ready to buy?
What are the currently available solutions?
Recognise and Prioritize Elements
This part focuses on the elements you are including in your item. You must create your product edition and outline the elements you want in it. After that, you must prioritize them. At this point, you’re probably to have one key focus element that communicates the product’s essence.
Tactic Selection
You should determine what type of MVP you’ll use. It could be a no-product, item replica, or a single-feature MVP. Your decision must be built on the concept that needs to be authenticated as well as the tools accessible.
Identifying Critical Success Factors
Before you begin developing your MVP, you must decide how you’ll assess it. Create a list of implementable measures and success factors that you’ll monitor.
Create a Storyboard
It’s a necessary step to list your attributes and create the product roadmap. It is made up of four main parts: an aim, actions, user stories, and tasks. It’s a useful tool for identifying the benefits and drawbacks of your product.
Launch MVP
It’s time to put your MVP out and get some input from your first users. Focus on keeping track of the critical factors when evaluating the success of your MVP. The primary goal is to assess your product with actual humans. Even if it failed, it’s a good indication that you should manoeuvre and concentrate on fixing various types of user problems.
Examples of MVP Launch
Following are the types explained by using examples.
User-facing Workaround
Consider Zappos. The pioneer hoped to see if consumers purchase boots without first trying them on. It wasn’t possible to shop online back then. He merely shot the boots he planned to sell, and if a buyer placed an online order, he’d go purchase the boots from the shop and dispatch them, which worked well.
Targeted User Section
Consider Tinder. The app was created because you feel at ease approaching people if you realize they would like you to. Because social media sites primarily linked you with folks you already knew, a gap existed in exploring someone else.
Its app stepped in to fill the void and calm the mind. They’ve got an opt-in system that shows you another party is willing to talk to you and, in most cases, the geographical area is close by, making you feel completely safe.
Key Issues and Use Instances
Consider Airbnb. San Francisco hosted an excellent design summit. The group planned to give inexpensive lodging during this situation and uploaded the information online. So they focused on a key issue and use the instance: “San Francisco summit invitees.”
They hoped to find a solution that was tailored to that particular use case. Shortly, three guests expressed interest in spending for this bare-bones service. This backed up the business overview that prospective buyers would be ready to pay to reside at another’s house instead of a hotel.
Streamlined Features
Consider Spotify. Previously, the music business was experiencing challenges. Because of file-sharing websites, some folks paid for songs. Two Swedes recognize that this will never work.
So their initial plan was to make a free streaming app and monetize it through advertisements. How did it fare against rivals? The pioneers noticed that most startups were putting their money into fancy sites and apps before even putting their concepts to the test.
Spotify’s team tried something new. They developed a minimum viable product in the form of a computer app with one central aspect: song streaming. Later, they gave the choice for people to pay a monthly fee in exchange for an ad-free interaction and other attributes, and this journey enabled them to test their concept while maintaining their costs low.
Advantages of MVP Launch
Resources Savings
By incorporating MVP, you can find a balance between supplying core aspects and remaining cost-effective. It also allows for the handover of a user-friendly item in a particular timeframe and is simple to execute.
Understand Your Crowd
It enables you to discover more about your customers’ perceptions of the item, allowing you to design and optimize what you could handle about it.
Enhance Progressively and Stepwise
MVP is critical in assisting you to create a basic edition that includes the key aspects and reveals it to the consumer to gather input and optimize it. It helps you organize your muddled thoughts and frame them in an orderly fashion.
Conclusion
Starting your MVP Inception point must no longer be as daunting. It doesn’t have to be flawless! To create it, follow the instructions and tactics outlined. It is a method that allows startups to learn a lot about their customers by using a viable prototype without wasting precious time and money.
Thank you for your time.
FAQs
How to launch the MVP of a startup?
Conduct Market Research, Conduct Customer Research, Create A Product Roadmap, Conduct User Testing, and launch the product.
What is the MVP approach?
MVP is launching a minimum viable product to gather the feedback of the consumers to build a much better product.
What should an MVP look like?
An MVP should be small, fast and cheap and should not create a negative impact.
Insights shared by Avkash Kumar, Founder & Director, Dakoo.
Understanding the market’s need, Dakoo, a hyperlocal marketplace & delivery platform founded by Mr. Avkash Kumar in 2021, is dedicated to bringing the latest technologies to the market. What started as a modest beginning for Avkash Kumar in 2021 during the ideation phases of his hyperlocal eCommerce platform, to what the nation is going to recognize soon as a tech franchise brand “Dakoo”, – his journey has traversed many complexities of a true entrepreneur. In 2021, 2x start-up founders Priyam and Avkash, two IIT Kharagpur alumni, sowed the seed of a hyperlocal marketplace & delivery platform Dakoo, with the mission of empoweringlocal businesses.
Priyamand Avkash – Founders of Dakoo
Dakoo is looking to provide a superfast home delivery ecosystem just like Zepto. They have fast-growing start-up founders, just like their brand vision, with big dreams of getting into every Indian’s life and city, not only metro cities. Following the “Vocal for Local” motto of our honourable PM, Dakoo is also looking to decentralize the e-commerce industry by empowering the local vendors of India.
Dakoo Tech Franchise allows small businesses to own recession-free tech businesses in their city and be a part of an exciting and innovative movement. When each city has its own eCommerce platform, local vendors can easily sell their products online and this will ultimately strengthen the local economy. With the advent of the franchise model, Dakoo is committed to bringing this technology to every city and town in India to help small businesses and entrepreneurs to grow exponentially especially considering the post covid situation.
From Finding The Problem Till Getting Their First Seed Funding Of INR 2 Crores, Dakoo Super App Brings In Local CEOs Of Dakoo To Every City!
India is a country with many cities. There are tier-one cities like Kolkata, and Mumbai; tier-two cities like Surat and Jaipur, and tier-three cities like Mangalore. India is predominantly a rural country, but people from tier 2 and 3 citiesmigrate to bigger cities for education or job opportunities. This leads to the unavailability of many employment opportunities in these smaller towns, which is a big problem for those staying there. Dakoo will provide thousands of employment opportunities in these areas in the near future by empowering the local economy. In India, 60% of local retailers are not digitally enabled.
Dakoo Tech Delivery
Out of the massive $1.1T Indian local retail market, more than 90% of FMCG sales take place through local retail. India has almost 86% of consumers who shop locally. Thus, statistically, most e-commerce players are projected to prefer Dakoo’s logistics service over other players because it can be scaled up with less cost. Dakoo’s business model is all about ensuring that smallentrepreneurs get enough orders to sustain their businesses who are suffering from daily orders due to the easy accessibility of big Indian eCommerce giants.
Startups and small businesses face alot of challenges. And while there are programs to help, they don’t solve one of the entrepreneurs’ biggest challenges: Time. Dakoo looks to help small businesses across multiple industries with marketing and sales services through an easy-to-use digital platform. To ease out ventures like start-ups and small businesses, which face a lot of challenges, Dakoo Super App brings in an entire framework of apps for Customers, Merchants, and Delivery agents with regular updates. This helps to enhance product quality as well as customer experience. Dakoo offers free home delivery from any local shop, whether it’s a vegetable shop, Grocery store, Restaurant, Thela, Electronics shop, or Supermarket. All deliveries are completed within 25 minutes by Dakoo’s super-strong delivery ecosystem. Dakoo plans to reduce this delivery time to 15 minutesby the year of 2023. Bringing this kind of comforts and privileges of metro cities to tier 2 and 3 cities, while competing in tier 1 cities simultaneously, is the goal of the super app. Dakoo also plans to bring an electric vehicle hailing platform to tier 2 & tier 3 cities in the near future. The company has a dedicated team of professionals who work hard to ensure that its products can meet customer expectations. They also provide a Franchisee App, which helps handle the city monitoring and management dashboard. It also allows them to control multiple delivery agents through just one app.
The best part that would give a boom is the system of making sure to keep track of all orders placed by various customers using different delivery partners. It enables them to maintain high transparency throughout their entire business process. Apart from ensuring that they deliver the best services to their clients, they have made sure that they can make payments easily and quickly without any issues or delays. This helps them achieve maximum productivity without compromising service quality or efficiency levels. Dakoo also offers digital marketing services such as Digital Marketing, guerrilla marketing & branding material, Marketing pitch, onboarding & training Videos for merchant & delivery agents, the Initial level of Customer support, Merchant support & Delivery Agent support. This helps businesses gain visibility online, thereby increasing sales volume significantly.
Grow your Sales using Dakoo
Want to Operate with Dakoo? Know How!
Dakoo was designed to help entrepreneurs reduce costs and complexity. If you wish to use Dakoo you have to follow these steps.
You can Hire delivery agents who will be paid per delivery directly via the app.
Convince Merchants in your city to join Dakoo, using our marketing pitch video.
Conduct offline marketing & branding campaigns with materials provided by Dakoo.
You will be responsible for any and all taxes and fees related to your business, as well as complying with local laws and regulations. This includes VAT, corporate tax, income tax, and more. You will also be responsible for any legal liabilities or other financial commitments that may arise from running your business. Make sure you comply with all applicable hiring laws and regulations, as well as labour standards. Protect your data by complying with all applicable data protection laws. And finally, make sure you are compliant with all intellectual property laws. The company recently took 10,000 interviews and going to award franchises to top 100 entrepreneurs.
Dakoo award franchises to top 100 entrepreneurs
Growth Plans and Future Roadmap
Dakoo’s service is growing in popularity among local entrepreneurs and small businesses. The company is focusing on building a system that can grow alongside them. In the next few years, they hope to leverage artificial intelligence to create a single platform where eCommerce and digital marketing are closely tied together. Dakoo recently secured INR 2 Cr from the Founders of FlyDining, helping them complete their vision of digitizing the local market. The investors, Mr. Pankaj Dhingra, Mr. Samir Dhingra and Mr. Shubham Singhal, have shown faith in the business model of Dakoo and invested for the better future of India.
Being open to co-branding opportunities with EVs and looking to launch in tier 2 and 3 cities, Dakoo is all set to become an important part of how thousands of local business owners run their online operations. As soon as small businesses grow beyond local exposure and word-of-mouth promotion, it’s time to map out a growth strategy. Ideally, that means creating a set timeline based on specific milestones. Without these milestones ahead of time, it can be difficult to make smart decisions about how best to spend marketing dollars down the road when cash flow becomes an issue. If money is tight right now, consider scaling back advertising costs temporarily until revenue hits another level again. Here’s where all Dakoo will serve as a real Dakoo, for as a good one, for thousands of entrepreneurs and their businesses!
Fact-checking simply means that whatever information is out there is verified or authentic. However, it is noticed that today many journalists or those associated with news channels are spreading the news that isn’t fact-checked to earn a great deal of money.
One such incident that is now all over the media is the arrest of Mohammed Zubair, the co-founder of Alt news. He was arrested on June 27, by Delhi Police over a four year old tweet insulting a deity.
He is the co-founder of Alt news. Mohammed Zubair along with his friend, a former software engineer, Pratik Sinha, started the website to counter fake news, by exposing lies spread by media houses, politicians, celebrities, and users on social media.
Why Was Mohammed Zubair Arrested?
Mohammed Zubair was arrested on accounts for deliberately insulting a god from a particular religion. He posted the tweet in March 2018.
A Twitter user had filed the FIR against Zubair where he tagged the Delhi Police to take action against Zubair. As per the police, the tweet handle showed an image that was taken from the 1983 film Kissi Se Na Kehna and has been repainted with an improper word.
Zubair was arrested under IPC Section 153-A (promoting enmity between different groups) and 295-A (malicious acts to hurt religious sentiments).
His co-partner, Pratik Sinha has said that Zubair has been called in for questioning regarding a case from 2020. He was booked under the Protection of Children from Sexual Offences Act (POSCO), where he allegedly morphed a picture of a minor girl on social media. Reports suggest that he has been arrested for the tweet instead, which he posted four years ago for hurting religious feelings.
The Series of Controversies Associated With Alt News
Since Alt news’ inception, the website has been accused of targeting the Bharatiya Janta Party (BJP). Several fact-checkers have claimed that the website targets more Modi-led governments than other political parties.
Due to his hate speech on social media platforms, Zubair is facing multiple FIRs.
The cases leading to foreign donations
When Zubair was under 14-day judicial custody, the prosecutor revealed that Zubair has accepted various payments through Razorpay from UAE, Pakistan, Singapore, Syria, and Australia.
Being linked to this controversy, Razorpay had clarified on Twitter, “We will continue to hold the highest standard of data security, defend our customers at all times and also continue to abide by the laws and regulations of India.”
The public prosecutor had opposed the bail of Zubair asking for an investigation regarding the foreign donations he has allegedly received. According to the reports, Delhi Police has also accused Alt News parent company Pravada Media of involving in foreign funding and taking money of more than Rs 2 lakhs.
Fact-check: Absolutely lies. Police is linking donations received by Alt News to Zubair. All the money that Alt News receives goes to the organisations bank and not any individuals. The bank statement of Zubair's personal account of which I have a copy debunks this falsehood. pic.twitter.com/esrmEVpTPp
Things got more controversial when Alt News accused Razorpay of sharing their donor data information with the police without their knowledge. To get out of the accusations, Alt News made statements that they have only added Indian Banks who can make donations to them and that foreign credit cards were never listed on Razorpay’s back-end. Thus, claiming that it is not possible for them to receive money from overseas and that these allegations are untrue.
Alt News Statement regarding Razorpay
Tweets from other countries in support of Zubair
Furthermore to these accusations, an analysis report was shared stating that Alt News has received various transactions that show IP addresses coming from outside India. The cities and countries were Bangkok, Singapore, New York, Abu Dhabi, England, and New Jersey among several others. Additionally, the parent company Pravada Media has received a total of Rs 2,31,933.
Other reports are claiming that the Police have summoned new cases against Zubair such as Section 120B (criminal conspiracy) and 201 (destruction of evidence) of the Indian Penal Code and section 35 of the Foreign Contribution Regulation Act.
This comes after it was discovered in a social media analysis of Zubair’s Twitter handle that there were multiple tweets from nations such as the UAE, Kuwait, Bahrain, Pakistan, and other Middle Eastern countries in favour of Zubair opposing his recent arrest.
At the beginning of 2022, Alt news created a Twitter page called ‘Unhate’, to demonstrate documents on hate speeches and other related stories.
Though Alt news has been constantly calling out other news channels for spreading misinformation and false facts, it is quite evident that there many pieces of evidence which speak against the news website.
The fact-checking channel team is very supportive of Zubair and is declaring that his arrest of him is an attack on the kind of work he does.
Alt News Statement regarding the allegations
Pratik Sinha has recently shared in an interview, that how their team is always showing verified facts, and people from the ruling parties are creating fake news to create a false narrative against their channel.
Conclusion
The changing nature of journalism in India has been quite the trend these days. Giving out information is the duty of not just the journalists but as viewers and readers, we also must support what type of journalism should be encouraged. In India, controversies are always linked with journalists, whether for questioning what is right or getting trapped for spreading misinformation.
The incident of Zubair’s arrest has left many in the dark about the misuse of social media, where anything is not entirely true. Several opposition leaders are condemning the arrest of Zubair and blaming the Modi government. All of these cases are hard to justify who is right while keeping in view the shreds of evidence against Zubair.
FAQs
Why was Mohammed Zubair arrested?
Mohammed Zubair was arrested related to a tweet he had posted in 2018.
Who is Mohammed Zubair?
Mohammed Zubair is the co-founder of fact-checking website Alt News.
If I ask you to name an e-learning app where students can attend live classes, watch pre-recorded videos and give tests, most of you will surely name Byju’s. And why not! Byju’s is India’s most famous edtech decacorn valued at $22 billion.
Currently, the app has 10 Cr+ downloads on the Play Store with students spending 71 minutes on average time on a daily basis from 1700+ cities.
The app has 6 million paying subscribers with an 85 per cent renewal rate. All these statistics show how much Byju’s has grown over the years. In India, the education system is majorly based on an offline learning model. Then how did this company popularise the e-learning concept?
In a country like India where parents hate mobile phones and the internet in the hands of their children, how did this company make both students and parents understand the benefits of studying online?
The answer to all of these questions lies in their marketing strategy. Let’s break down the brilliant marketing strategy of Byju’s in great detail.
Before we dive deep into Byju’s marketing strategy let’s first understand who exactly is their target audience.
The target audience of this growing edtech company is millennials and gen z from grade 1 to the ones who are studying for competitive exams like CAT, IAS, JEE, NEET, GMAT, UPSC and banking exams.
But, apart from the students, the parents are also the target audience of the company since they are the decision-makers and the ones who pay money for the classes. With that understood, let’s analyse our marketing strategy of Byju’s.
Byju’s Marketing Strategy During COVID-19 Pandemic
During the COVID-19 outbreak, while many of the brands were facing losses, Byju’s on the other hand substantially increased its user base and revenue.
The Indian edtech company became a decacorn and crossed a $10.5 billion valuation during the pandemic after getting funding of $100 million from Silicon Valley investor and analyst Mary Meeker’s Bond Capital.
But, how did the company become so successful during the outbreak? To find an answer to this question let’s see the marketing strategy of Byju’s from the start of the pandemic.
In March 2020, when all the schools and colleges were shut the company provided free access to its complete app till the end of March.
So, for 2 months students could attend live classes and watch interactive videos without spending any money. Students who were studying in classes 1-3 could learn Maths and English concepts and students in classes 4-12 could study Maths and Science concepts.
Now, why did they give free access to the classes?
See, people love free things. When we hear this four-letter word our behavioural pattern changes and the entry barrier is eliminated.
The principle of reciprocity is also associated with this strategy. According to this principle, when someone helps us we get obligated to return the favour. So, if students use the app for 2 months and enjoy the learning process the chances of those students returning back and buying the subscription are much higher.
This strategy was very successful and the company registered 6 million new students in the month of March and 7.5 million users in April.
The edtech company said that they witnessed a 150 per cent increase in student enrollment due to this free strategy.
In August 2020, the company acquired WhiteHat Jr, an online coding school for $300 million.
Later, in April 2021, Byju’s acquired Aakash Educational Services Ltd (AESL) for USD 1 billion which is the biggest acquisition of Byju’s to date. This partnership will help the company grow its presence in the test preparation segment.
The company didn’t stop here, in July 2021, the company acquired Toppr, an online learning app for $150 million.
Byju’s wants to create its own ecosystem and that’s why it is continuously acquiring a lot of companies. The edtech giant knows that if they want to stay in the market for a long time they need to either defeat their competitors or destroy the competition by acquiring them.
Let’s see what marketing strategies Byju’s used before the pandemic.
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Brand ambassadors are very important for any company since they give a more human touch to the brand and build authority and trust with the people.
In 2017, Byju’s made a television advertisement with Shahrukh Khan to launch their official app. This advertisement was telecasted during the India-Pakistan cricket match. This is such an amazing marketing strategy, right? We all know that the India V/S Pakistan cricket match attracts maximum eyeballs.
So, when lakhs of people were watching the match they see the King of Bollywood say ‘let your children fall in love with learning’. Due to the massive fanbase of Shahrukh Khan, a lot of students and parents started gaining interest in Byju’s app. The interesting thing about this advertisement was that it targeted both the children and parents. This campaign was very successful.
To make better relationships with Gen-Z Byju’s also tied up with Disney. Since the popularity of Disney among kids is humongous it gave the brand an added boost.
Educational games, digital worksheets and the trademark Disney stories made parents understand that their children can learn using fun activities and stories. This partnership helped in strengthening Byju’s K-12 (kindergarten to Class XII) space.
Busted Biggest Myth about Technology
Now, due to the pandemic, both parents and students have understood the importance of e-learning. But, in the past, many parents felt that mobile phones were the biggest problem in the lives of their children. Parents felt their children only use mobile phones and the internet to play games, chat with their friends and watch useless videos.
They didn’t understand that technology can help their children in studying as well. To break this myth of parents Byju’s launched a video campaign ‘Come Fall in Love With Learning’. This campaign helped parents understand that there is nothing wrong with studying using mobile phones.
Sponsored Indian Cricket Jersey
In 2019, Byju’s sponsored the Indian cricket Jersey. The logo of Byju’s on the cricket jersey was unveiled in a video campaign named ‘Keep Learning’. In this TV commercial, Virat Kohli, Rohit Sharma, Shikhar Dhawan, KL Rahul and Rishabh Pant walked onto the pitch wearing the cricket jersey with Byju’s logo on it.
This shows that Byju’s has clearly understood how much Indians love cricket and are using this opportunity to grow this business. Imagine how much of a positive impact it would have created both on students and parents when they see their idols explaining the importance of learning while wearing the jersey with Byju’s logo on it.
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India is a nation of different cultures and languages. So, when any company is making its marketing strategy it is very important to target people using the language that they speak.
In the early stage, Byju’s usually launched campaigns in Hindi. Although afterwards Byju’s realised that to connect with the people living in different parts of India they need to launch regional campaigns.
In May 2019 the company roped in Mahesh Babu for a video campaign targeting Telangana and Andhra Pradesh. The new campaign highlighted the evolving learning habits of children and how Byju’s app makes learning fun for them. It also explained that technology can be a friend to students and can help them study more effectively.
Later, in July 2020 the company partnered with Sudeep Sanjeev and launched two television ad-campaign in Kannada. They also launched two new television advertisements with their existing brand ambassador Mahesh Babu in Telugu.
All the four ad films were of 50 seconds each. The advertisements highlighted how students are enjoying online learning and encourages parents to accept the new method of learning.
Partnered with ICC to Become its Global Partner
Byju’s sponsoring ICC
Byju’s wasn’t just satisfied with sponsoring the Indian cricket Jersey. In February 2021, International Cricket Council (ICC) announced Byju’s as its global partner from 2021 to 2023. The three-year contract allows Byju’s to partner with all ICC events including the upcoming T20 World Cup in India and the women’s World Cup in New Zealand.
Byju’s will get extensive in-venue, broadcast, and digital rights across all ICC events. Since the ‘Keep Learning’ campaign was very successful it made sense for the company to invest more money in cricket.
Byju’s Became the First Indian Edtech To Sponsor FIFA World Cup
Byjus Sponsoring FIFA
After integrating cricket into its marketing strategy Byju’s is now leveraging the most famous sport in the world, football. On March 24, 2022, the company announced that it is sponsoring the FIFA World Cup Qatar 2022 which will take place from November 21 to December 18, 2022.
Through this sponsorship, Byju’s will get the rights to the 2022 FIFA World Cup marks, emblem and assets and the ability to run promotions.
Conclusion
The major takeaway from Byju’s marketing strategy is that you should focus on your target audience and brand presence.
If you see their marketing strategy from the beginning you will notice that they were directly speaking to students and parents. They made students understand that they can turn their boring studying patterns into exciting ones.
The company also understood that even though students are their end consumers, parents are the ones who will spend money on their packages.
Most parents feel that their children shouldn’t use mobile phones and the internet for studying. The company knew that if they didn’t break this myth they would never succeed. That is why they launched the ‘Keep Learning’ campaign where they explained the benefits of studying online.
In India, people are in love with cricket and acting. That is why they made Shahrukh Khan their brand ambassador and sponsored Indian cricket Jersey and became ICC’S Global Partner. This made Byju’s a household name and people started trusting the brand.
All these things show that they had studied the Indian market and the psychology of people carefully. So, next time when you are making a marketing strategy for your business first understand your target audience’s needs and behaviour patterns.
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List of the Best Laptops in India for Office and Personal use
List of the Best Laptops in India for Office and Personal use
The List has been curated keeping in mind the requirements for a professional/student which are Performance, Display, Operating system, Design, Ports & Connectivity. So what you are waiting for? Check the list now to find the perfect laptop for yourself.
What if, you are told that in near future surgeries will be performed by Machines. Yes, machine learning has advanced rapidly that in near future it will be possible to perform medical surgeries with minimum or no interventions by a Physician. Machine learning is widely used in healthcare industry in 2022.
When we hear AI or machine learning the first thing that comes in our mind is Robots but machine learning is much more complicated than that. Machine learning has advanced in every possible field and revolutionized many industries such as healthcare, retail and banking. In this article, we will talk about how machine learning is bringing a change in the healthcare industry. So let’s get right into the business.
Machine learning is an application of AI that provides the system with the ability to learn and improve from experiences without being programmed. The primary focus is to allow the computers to learn automatically without any human intervention or assistance. The process of learning begins with observations of data and finding patterns in data and making better decisions in the future. Machine learning has started making it place in India.
Machine Learning in Healthcare
The Healthcare industry has seen many advancements, but machine learning is one such advancement that has enhanced the performance of healthcare businesses. Machine learning has advanced a lot but the best machine learning tool in healthcare industry is a doctors brain. Many physicians worry that machine learning will dominate the healthcare industry.
Machine learning should be focused on how it can be used to augment patient care and employed as a tool by physicians to improve clinical use. Machine learning can never replace physicians because even if it reached supremacy, the patient always needs the human touch and caring of a physician.
How Machine Learning Is Used in Healthcare?
Machine Learning is taking turns and has entered into various industries and it looks like its not going to stop at any moment. It has also started showing its caliber in the Healthcare industry. Some of the ways it is used there are:
Identifying Disease and Diagnosis
Scientists are already working on machine learning models that predict disease or early diagnosis of disease and illness. A UK based technology startup feebris is working on artificial intelligence algorithms for precise detection of complex respiratory conditions. MIT’s Computer Science and Artificial Intelligence Lab has developed a new deep learning-based prediction model that can predict the development of breast cancer in advance up to five years.
Robotic Surgery
The application of robotics in healthcare is rapidly growing since it began in 1980. Robots performing surgery still might sound untrustworthy to many but in near future, it will be commonly used in surgeries. Robotics is also used in hospitals to monitor the patients and alert the nurses if there is human interaction required.
The robotic assistant can locate the blood vessel and draw the blood with less pain and anxiety for the patient. Robots also prepare and dispense medications and vaccines in pharmacological labs. In large facilities robotics are used as a cart to carry medical supplies. Speaking about robots replacing humans is not happening anywhere soon, robotics can only assist the doctors but can never replace them.
Medical Imaging Diagnosis
Medical imaging diagnosis is a process or technique in which visual representation of tissue or internal parts of organs are created to monitor health, diagnose and treat diseases. It also helps in creating database of anatomy and physiology. Surgical interventions can be avoided if medical imaging technology like ultrasound and MRI are used.
Uses of Machine Learning in Healthcare Industry
Machine learning algorithms can rapidly process massive amount of medical images and they can be precisely trained to identify the details in CT scans and MRI’s. A deep learning team from US, France and Germany have developed algorithm that can diagnose skin cancer more accurately than a dermatologist.
Pros of Machine Learning in Healthcare
More and more healthcare companies are choosing Machine Learningbecause pf its benefits. Some of the benefits are:
Patterns Are Easily Identified
A great ability of machine learning is that it can identify patterns and data precisely which might not be possible by a human. It can process massive amount of patterns and data rapidly with ease. With new innovation all of these are possible.
Smart Health Records
Maintaining health records is an exhaustive process so machine learning is used to ease the process and reduce the time and efforts required for maintaining health records. Machine learning in today’s world is working on cutting edge technologies for maintaining smart data records.
Minimum Human Intervention
Machine learning adapts overtime by learning from patterns and data. The primary benefit of machine learning is that it requires minimum intervention by humans and it can perform surgeries with ease.
Cons of Machine Learning in Healthcare
There is also a hesitation as well because with benefits Machine Learning has some cons as well. Some of them are:
Data Acquisition
Machine learning adapts through patterns and data sets and it requires a massive data sets and patterns to train its algorithms. The data should be precise and of good quality.
Take Time to Learn and Adapt
Machine learning requires enough time for its algorithms to learn and adapt to the patterns and data so that it can deliver accurate results. It requires additional computer power to function.
High Error-Susceptibility
Machine learning is highly susceptible to errors, it requires massive amount of data and if it is not provided with sufficient amount of data it may not function properly. Any inaccurate data fed to the machine may end up in undesirable result.
In-Med Prognostics Launches Neuroshield
InMed Prognostics Logo
One of the prime example of Machine Learning in the health industry is how In-Med Prognostics, a health tech company developing AI based brain health diagnostic and prognostic tools, launched NEUROShield, a cloud-based Clinical Decision Support Tool for neurological disorders. The NeuroShield technology uses pattern recognition and deep learning for the development of clinical biomarkers for early prognosis and differential diagnosis.
NEUROShield, powered by state-of-the-art AI, utilizes 3D based MRI images to their full potential by extracting data and providing volumetric analysis for the brain and its various structures. Use of cutting edge, AI technology enables them to perform analysis, on both Indian and Caucasian brains, thus unlocking a global scalability potential for their platform. AI is increasing innovation in the enterprises.
Future of Machine Learning in Healthcare
The development in machine learning will be able to automatically detect most of the diseases in its early stage. It will also increase the efficiency and accuracy in disease detection to reduce the burden on doctors. AI and Machine Learning will revolutionize the future healthcare industry.
Machine learning has advanced rapidly in every field such as navigation, business, retail, and banking but progressing in the healthcare industry is difficult because of the limited availability of data and lack of highly skilled scientists. Machine learning still requires improvements and several factors need to be improved.
Conclusion
Machine learning in the healthcare domain has become more popular and widely used in the healthcare industry. ML is helping patients and clinicians in many different ways by making their work easy. Some of the most common applications of machine learning are automating medical billing, clinical decision support, and the development of clinical care guidelines. There are a lot of applications of machine learning that are under research and development. In the future, we’ll be seeing a lot of applications of ML in the healthcare sector getting implemented and making the lives of humans easy.
FAQs
What is ML healthcare?
Scientists and researchers are using machine learning (ML) to churn out a number of smart solutions that can ultimately help in diagnosing and treating an illness.
How is machine learning used in medical diagnosis?
Studying physiological data, environmental influences, and genetic factors allow practitioners to diagnose diseases early and more effectively. Machine learning allows us to build models that associate a broad range of variables with a disease.
What is machine learning in medicine?
Machine learning (a subset of artificial intelligence) plays a key role in many health-related realms, including the development of new medical procedures, the handling of patient data and records, and the treatment of chronic diseases.
What are the benefits of AI in healthcare?
Integrating AI into the healthcare ecosystem allows for a multitude of benefits, including automating tasks and analyzing big patient data sets to deliver better healthcare faster, and at a lower cost. According to Insider Intelligence, 30% of healthcare costs are associated with administrative tasks.
How is Machine Learning used in hospitals?
Machine Learning analyzes data throughout a healthcare system to mine, automate and predict processes. It has been used to predict ICU transfers, improve clinical workflows and even pinpoint a patient’s risk of hospital-acquired infections.
Gojek is an Indonesian super app which is a one-stop destination for paying bills, booking movie tickets, ordering food, buying groceries, sending or receiving packages, booking two-wheeler or four-wheeler taxis, paying money digitally and much more. The company provides 20+ services to consumers.
The company which started as a ride-hailing service with just 20 motorcycles is now Indonesia’s first decacorn.
In May 2021, Gojek merged with Indonesian e-commerce company Tokopedia to form GoToGroup. The company has created its own ecosystem and is growing at a rapid scale.
In the beginning, the company faced tough competition from Uber but, still, the company was able to beat the company all thanks to its business and revenue model.
Let’s decode the business and revenue model of Gojek, shall we?
Gojek is an Indonesian company that has a super app using which you can pay money digitally and get access to on-demand services in various sectors like transport and logistics, food and shopping, daily needs, business, news and entertainment. Basically, the app is a one-stop destination for users to get a wide variety of services.
Gojek operates in 5 counties: Indonesia, Vietnam, Singapore, Thailand, and the Philippines. The headquarters of this company is in Jakarta.
The journey of the company started in 2010 when the company had 20 motorcycle drivers who were providing on-demand bike rides to passengers. Later, the company started providing food delivery and courier services.
Although things completely changed for the company when it launched its official app in 2015 with four services: GoRide, GoSend, GoShop, and GoFood. Later, Gojek changed its business model to a super app and the rest is history.
Main Services of Gojek
Gojek provides 20+ services to its users:
Transportation and Logistics:
Goride: Get a two-wheeler taxi and reach your destination on time.
Gocar: Book a four-wheeler taxi.
Gosend: Send or receive packages within a few hours.
Gobox: If you moving out and want to shift your goods to the new house you can use this service.
Gobluebird: Book exclusive Bluebird rides (Bluebird is Indonesia’s leading taxi operator).
Gotransit: Acts as a trip assistant where users can plan, track and reach from one destination to another using: public transportation, Gojek transport or a combination of both. This service provides real-time updates.
Food and Shopping:
Gofood: Order food online from your favourite restaurant.
Gomall: Buy products from the online marketplace.
Gomart: Get groceries at your doorstep.
Gomed: Buy medicines from licensed pharmacies.
Payments:
Gopay: 4th largest e-wallet service in Indonesia
Gobills: Pay your bills online.
GoPaylater: GoPayLater from Findaya provides a payment method where users can pay bills, buy clothes and pay the money in the upcoming months
Gopulsa: Top up your data and talk time.
Gogive: Donate money to the trusted NGO and GO beneficiaries.
Goinvestasi: Buy and sell gold and get the money credited to your Gopay account
Daily Needs:
Gofitness: Access exercises such as yoga, Zumba, pilates and many more
Business:
Gobiz: This service is especially for merchants who want to manage and grow their business.
News and Entertainment:
Gotix: Book movies and events tickets
Goplay: Stream movies and web series
Gogames: Get gaming tips, top-up gaming credits and watch your favourite gamers
Gonews: Read the latest news
Target Audience of Gojek
The target audience of Gojek is people between the age group of 18-34 years old who live in urban cities. The company also targets people who are not financially stable by providing them with their digital payment service: Gopay.
Since Gojek provides a wide variety of services they are able to cater for the needs of a larger audience. Their super app model allows them to connect with different kinds of people from different sectors.
Business Model of Gojek
Gojek follows the super app business model where they provide a wide range of services to its users on a single platform. This means that instead of using one app to book movie tickets and another app to send packages they can use Gojek to fulfil both of their demands.
The super app model provides a more convenient approach and also saves time for the consumers. This business model works really well because nowadays consumers have become impatient and want things as fast as possible.
The business model of Gojek revolves around three segments: consumers, merchants and drivers.
Let’s see how the super app works for these three segments:
Consumers:
First consumers need to identify what kind of service they want. For example, do they want to book movie tickets, send packages, book a two-wheeler or order food?
If the customers want to order food online, Gofood is the right option. The second step would be to select their desired food and add it to the cart. Finally, they have to pay the money. After paying the amount consumers will receive the food at their doorstep.
Merchants:
Once the food is ordered or any kind of service is requested the merchants will receive the order details in their Gojek app. Once merchants understand the order details they need to start processing the order. In the meantime, the delivery driver is on his way to get the product.
Merchants have to make sure that they make the product or service as soon as possible. Once the order is ready, the delivery guy takes the product and delivers it to the customer. When the product is handed over to the delivery guy the money is instantly deducted from the merchant’s Gopay wallet.
(All the transactions on Gojek are majorly done via Gopay)
Drivers:
Drivers need to first sign-up with Gojek by providing some basic details like name, address, identity proof, vehicle number, license number and many more. The internet connection of drivers needs to be really good if they want to receive a large number of orders.
Drivers can choose from a wide variety of services. They can sign up as the two-wheeler taxi driver, car drivers, delivery guys and much more. To get started they need to turn on the online icon which is present in the Gojek app. Once they turn it on, they will start receiving the orders.
If a delivery guy is busy delivering products, the app shows him busy and the order is automatically assigned to another driver.
What Is Unique About Gojek?
The USP of Gojek is that the company provides 20+ services which users can access from just a single app. To beat its competition the company started using scooters and motorcycles instead of cars to avoid the huge traffic jams. Due to this brilliant idea, the services of Gojek became more premium and hassle-free.
How Does Gojek Make Money?
Commission from Consumers:
Gojek gives a one-stop solution to its consumers for all their demands. They don’t have to install numerous apps to fulfil their needs. Instead with just Gojek, they can access 20+ services. For this convenient and fast service, consumers need to pay a service charge of 10% of the order.
Commission from Merchants:
A lot of merchants want to showcase their products and services on Gojek. Due to the huge customer base and popularity of this super app, everyone wants to grow their business and open new streams of revenue. Gojek takes a small commission from the retailers on each order that they get. This commission is automatically deducted from the retailer’s wallet when they hand over the product to the delivery guy.
Commission from Drivers:
Drivers and delivery partners also need to pay Gojek a commission of 20% on each order delivered. This is a smart strategy since it encourages drivers to deliver more products in order to gain profit.
How Did Gojek Destroy Uber?
In the beginning, when Gojek started its ride-hailing service its biggest competitor was Uber which had already earned its name in the market. Although Uber wasn’t able to capture the market and its newly arrived competitor Gojek grew both its customer base and profit.
What is one thing that allowed Gojek to beat Uber?
Gojek was able to beat Uber because the company had studied the local market of Indonesia in detail. The company had understood most of the cities in Indonesia has a huge traffic jam. In this condition, using cars to deliver passengers won’t be a smart decision.
To avoid traffic jams and speed up their process Gojek started using scooters and motorcycles. This made the transportation service of Gojek much more convenient and hassle-free. On the other hand, Uber’s business model was purely revolving around cars which made it impossible for the company to grow.
Another advantage of incorporating scooters and motorcycles in their business model was that it was much cheaper for people to buy two-wheelers than a four-wheeler. This helped Gojek to get a huge amount of drivers.
After that Gojek transformed itself into a super app which further helped the company to capture the whole market.
Conclusion
The business and revenue model of Gojek taught us that we should always understand the target audience’s needs and behavioural patterns. We should also study the local market in great detail. These two things will allow you to build a powerful business model.
Gojek understood that most of the cities in Indonesia have a lot of traffic congestion. So, when the company started its ride-hailing service it started using scooters and motorcycles instead of cars to avoid traffic jams. This made the company’s services more premium and attractive.
After that, they started giving a wide variety of services to acquire more customers. Gojek is successful today because they have simplified the customer journey and made their services top-notch.
Remember, when you provide quality services to the customers your business will automatically grow. You should always try to innovate and aim to make the lives of your customers easier and happier.
FAQs
How does Gojek operate?
Gojek follows a super app business model where they provide a wide range of services like paying bills, booking movie tickets, ordering food, buying groceries, booking a four-wheeler or a two-wheeler taxi and much more on a single platform. Gojek operates with 3 people in its business model: Consumers, merchants and drivers.
How does Gojek make profits?
Gojek earns profits by taking commissions from its consumers, merchants and drivers. Consumers need to pay a service charge of 10% of the order. While the drivers receive a commission of 20% on each order delivered.
How does Gojek make profits?
Gojek focuses on bikes and scooters instead of cars to avoid traffic jams and speed up their process.
In our lives, there are things that have impacted us in some way or the other. Plastics are one of those things that have changed our lifestyle in a way we never thought possible.
As a result, plastics have been an integral part of our everyday needs. However, one of the most worrisome factors is that single-use plastics are impacting a negative impression on the environment.
Keeping the thoughts of climate change in mind, and the continuous increase in global warming caused by harmful gas emissions, the government of India has banned single-use plastics. Plastics have been a major part of diffusing greenhouse gases into the atmosphere, thus affecting the quality of air.
The ban means it is now illegal to manufacture, import, or circulate a range of items from plastic cutlery, straws, bottles, and packaging films to polystyrene. Globally, single-use plastics account for almost 130 million tonnes annually. Due to this, plastic pollution has become a cause of immense concern.
The plastic items which are used only once and discarded are single-use plastics. It is regarded as one of the highest plastic shares manufactured from packaging items to face masks, bottles, food packaging, garbage bags, etc. Our country itself produces about 14 million tonnes of plastics each year.
Why Did the Government Decide to Ban Single-Use Plastics?
It is not only India that has announced to ban on plastics, Colombia’s government as well has passed a law banning plastics. In the previous year, France also encouraged to ban plastics and refrained from using them to wrap vegetables and fruits.
Environmental experts claim that the concern is not the plastic, but that if it stays for a long period in the environment leading to serious issues as the microplastics can enter the soil, thus entering food sources and harming our health.
Over the past few years, many state governments have engaged in banning the use of plastics but failed to implement it properly. But this time, they are going to set up control rooms to keep a track of any illegal usage or distribution of SUP.
Plastic Waste in India
How Will the Plastic Ban Affect the Plastic Industry and Jobs?
Many State Governments have already initiated practices to curb the use of plastics from July 1, 2022. The Municipal Corporation of Delhi has ruled out notices to all e-commerce companies, local shopkeepers, and commercial markets to stop using single-use plastics. Recently, the Kolkata Airport authority has also taken up the ban by putting up posters to stop using plastics.
The question here is: will the ban on single-use plastics impact employment opportunities?
Although the impact of the plastic ban can result in a loss of up to Rs 15,000 crore for the plastic industry, and nearly 3 lakh people might lose their job, chances are there is a much likely needed boost for other alternative sectors.
Perhaps, the ban on plastics will create job opportunities in brand new areas and sectors that nobody ever thought it before. The demand for other alternative sectors will automatically increase, such as cotton and jute industries, motivating tribal communities, and farming communities.
In India, there are many organisations that focus on creating eco-friendly products like the Madurai Jute Cluster. It is an organisation that trains many underprivileged women in making jute bags, folders, files, gifts, etc, without the use of plastics.
Another example of a non-government organisation called the Development of Women and Children (DWC) trust was started by Parameswari M, an engineer from Tamil Nadu who indulges in plastic-free products. The organisation trains women and children about the harmful effects of plastics on the environment. They help in creating banana fibres that have the ability to take over plastic packages.
There are many such communities and organisations that manufacture alternatives to plastics. However, the demand for alternatives is not that high, given that they are too expensive. For a jute industry, finding the right set of skilled workers is also a tough call for industrialists.
What Do the Experts Have to Say Regarding the Plastic Ban?
Economists believe that if one particular type of sector shuts down, it will automatically open doors for its alternative sector that will gradually boom creating a lot of employment opportunities.
If there is a loss of jobs due to this ban, then people who are working in plastic industries with basic skills will be transferred to some other sectors. The prohibition of plastics will immediately push up the demand for substitutes like cotton, paper, jute, bamboo, and many more.
If these cotton industries replace the plastic industries, then labourers will easily migrate there.
These days, customers are also slowly understanding the seriousness of the hazardous effects of plastics on the planet. There has also been a growth in the use of recycled items.
In the latest guidelines issued by the government regarding the ban, they have asked suppliers to make them thicker to encourage their reuse. This gives a chance for the existing industries to alter the quality of plastic. Recycle waste industries will also offer employment opportunities due to the increasing need for recycled products.
Conclusion
The ban on plastics does seem like a good decision for the environment, however, it is hard to tell whether there can be a complete ban on plastics. The fact that banning single-use plastics will impact people in many ways, but it was inevitable in the larger interest of the welfare of society.
The Confederation of All India Traders (CAIT) has requested to push the ban to next year in fear of the crash of many MSMEs and the sudden loss of jobs. The ban on SUP will take some time to come into effect. It is now up to the Government because they need to make significant investments in R&D and innovative technology to create alternative products.
FAQs
How would banning plastic affect businesses?
Banning plastic will shut down businesses that produce plastics which will result in the loss of jobs.
How does plastic affect our economy?
Plastic ban increase the prices of goods and services and the profit of manufacturers reduces which affects the economy.
Do you want to automate your marketing and grab more customers? If yes, personalised and interactive content is the key! Maximum businesses grow and generate leads by featuring personalised content for their users.
Building interactive, automated content helps boost engagement and retention. It allows you to attain a highly active audience, build brand awareness, and nurture key affairs at every phase of your sales cycle. Here’s how you can use interactive content marketing for lead generation.
Interactive content is personalised content that encourages the audiences to actively participate. As opposed to passively reading, watching, or writing, interactive content evolves from passive consumption to active participation.
It comprises calculators, contests, games, assessments, surveys, and quizzes. Interactive infographics and white papers are also included in interactive content.
How Does Interactive Content Help Boost Lead Generation?
When you feature interactive content on your website, a user interacts with it. This accelerates user engagement and retention on your business’ website. As a result, it ensures that you’re doing something to pique the interest of the user and retain them. Ultimately, interactive content is used to furnish the users with a more entertaining experience in your business’ products and services.
To generate leads from interactive content, here are 3 key points that you need to consider.
Collect
Make sure that you’ve collected all the data and insights about the users who are interacting with your content. Get their email addresses, contact information, etc.
Respond
Posting interactive content is a trend in digital marketing right now. The best interactive content will reach your targeted audience – for instance, a fun game that bestows personalized product recommendations.
Empower
Your content should make the audience feel empowered. Do that by providing them with exclusive information. Augment the user experience by furnishing tools so they can be creative and enjoy themselves.
How to Find Leads That Converts Into Customers?
Oftentimes, lead generation gets a little daunting. Finding leads that would convert into potential customers is, no wonder, difficult. But you don’t just want anyone. You want the right leads – users who will purchase your products and engage with your content.
So, how to evaluate good sales prospects anyway? When we talk about lead generation, we also need to qualify and score those leads. Here’s how you can do it.
Targeting
Creating marketing ads and content that appeal to customer profiles is essential. If you can reach the right people, you can generate potential leads and boost sales.
Qualifying
Once you generate leads, learn about them. Employ interactive content to gather data about their demographics, shopping habits, and so on.
Segmenting
Once you’ve gathered all the information, use it to segment the leads into different groups. Then, continue with targeted messages, such as email marketing, special offers, et al.
Types of Interactive Content for Lead Generation
Over time, you can use different types of interactive content to generate leads and promote the growth of your business. With interactive content, creativity is the key. The richer and more personalised the content is, the better. Below are 4 types of interactive content that you can use to generate qualified leads.
Interactive Calculator
As a capture tool to influence purchasing decisions, budgets, and business plans, interactive calculators provide actual utility. Businesses can formulate their own calculators. Interactive calculators also help calculate savings, risk exposure, ROI, etc. They can be employed to generate both B2B and B2C leads.
Interactive Calculator Example
Marketing Games
What can be the most impactful things which can help grab people’s attention? Games. From the kids to the elderly, everyone loves to play games. Offer your viewers a few fun games, such as a spot-the-mistake game, what-happens-next games, find the odd one out game and many more.
Example of marketing game – Dominos Delivery Dash
As per the survey, businesses who have implemented “marketing games” have earned an increased revenue of 7 per cent. Gathering leads with games can be the simplest thing to do. Once your visitors win a game, you may ask for their personal information in exchange for a discount coupon, vouchers and various cashback offers.
Interactive Videos
“Video” can be anything, depending on your content requirements. It can be pre-recorded webinars of any company. It can embed YouTube videos or video tutorials based on your blog topics.
Interactive videos will boost lead generation for your business. Not just videos though; there are numerous ways to focus on lead generation, but videos help a lot!
You can use some videography tools, such as Wistia’s Turnstile. This tool allows you to embed the lead generation form at any instance of the video. You’ll have both options at the same time – either you want to gate the video content or upgrade it.
Also, the addition of YouTube annotations is one of the popular ways to make the video more tactful or interactive. Annotations are just some minor tags embedded in the YouTube videos. These URLs can be used as lead generation to land on specific pages.
Interactive infographics
Interactive infographics are a technical way to provide a better understanding of your content. It not only bestows a visual way of learning and understanding things but also offers cool trivial digital widgets to play.
There are many different ways to acquire leads, but offering downloadable versions of the infographics is trending. With interactive infographics, you can create polls based on the content you write. Then, show results depending on how the viewers answered.
In the end, you’ll have the data of all the viewers who participated in the poll with all of their personal information. This in turn expands your company’s marketing boundaries.
Conclusion
Nowadays, interactive marketing is one of the most rapidly growing tactics in across-the-board content marketing strategy. It assists you to overtake your competitors in no time and avoid getting left behind. The aforementioned interactive content examples are just five of the many content types.
As you dig deeper into this field of site development and e-commerce websites, you may find more of them. There are many more interactive content types that your business can benefit from. All among the list of examples helps to procure extra monthly revenue. You may also use tools, such as involve.me. It helps create interactive educational and enriching content. As a result, you can tempt, engage, and reclaim your audience – and generate more leads.
FAQs
What is interactive content marketing?
Interactive content marketing is a marketing technique that engages users which helps marketers get quality leads for their business.
What is interactive content marketing example?
Interactive e-books, Calculators, Branded games, Quizzes and questionnaires are some examples of content marketing.
Why marketers use interactive content?
Marketers use content marketing because it is more engaging than normal content.
Covid-19 shook the economies of the whole world. Not just the countries that are developed suffer but also the countries that are developing and are already poor. This shock was instant and the world market crashed as soon as the pandemic hit the world.
Businesses all over the world that did not have stability got dissolved in the storm and the remaining were absorbed by big businesses. From that time to the current time, all efforts have been to revive the market. There was a lack of funds all over the world, which the government and businesses tried to fill.
As the Covid-19 pandemic curve flattened, and the markets got to their normal workings, the world saw a sign of relief. Then, Russia attacked Ukraine and we all witnessed another unstable time.
All of that happened in the past two years and all that was balanced by the efforts of some entrepreneurs all over the world. Money was an important asset in these times. Banks worked overtime to get money into the hands of people. Many banks’ growth staggered due to the implementation of no work in the sector. Since then every bank has been trying to cope with all the unemployment and money problems in the market.
In recent news one of the most popular banks in India decided to merge itself with another entity to gain more power. The bank was none other than HDFC bank, which is among the biggest banks in the economy. This article tries to cover everything about the news on the HDFC merger with another HDFC entity. Let us see in close detail what the news meant in this case.
HDFC bank limited is an Indian private banking company that deals in all sorts of financial services. It is headquartered in Mumbai. HDFC Bank is India’s largest private bank in terms of assets. HDFC bank is also the tenth largest bank in the world in terms of market capitalization as of April 2021.
It is also the fifteenth largest employer in a country as big as India which nearly employs 120,000 employees. It is also the third-largest company by market capitalization ($122.50) billion on the Indian stock exchanges. All and all, HDFC is a big deal in the Indian economy market.
HDFC Merger with HDFC Bank
The HDFC-HDFC merge was announced on 04-Apr-2022.
The news that shook the market for two days in a row now is about HDFC bank. The HDFC bank has announced a merger with the HDFC. This merger of two big organizations will be the biggest in Indian corporate history.
After the amalgamation, the parent company (Housing finance company) will merge with the banking arm of the company, which is HDFC Bank.
The rumors of this merger happening have been recorded for a long time now. The merger has been speculated to happen in the year 2014. Thus, we can see that the deal that turned into the news yesterday has been in working progress for many years.
The agreement on the merger has moreover mentioned that the parent company of HDFC, that is HDFC will sell some proportion of its loans to the bank every quarter. For the HDFC bank, this was previously the only touchpoint to home loans.
The parent company works in the complementary business of the home loan business and the bank arm works as a lending bank for the public. Both entities will now work together to make more sense of the business that they are into.
What Took HDFC So Long to Merge With HDFC Bank?
For the most notable past, national housing banks were regulated by HDFC. HDFC or the housing finance companies were the regulating bodies for all these sorts of banks and they had easier Norms and rules and regulations to follow, which made managing these corporate entities easier to handle and manage.
As time went by and bad loans accumulated and several other events debunked the housing finance sector, things changed. With the collapse of the DHFL and the fall of other lenders and mortgage providers like Reliance housing finance, the Reserve Bank of India came to the rescue. The RBI took over control and started to impose strict guidelines for the whole housing finance sector.
It was easy for a company like HDFC to manage itself but now, as the norms changed, it was becoming heavier to manage such a big organization. Thus, they thought to merge the HDFC limited and the private lending arm. The merger has its benefits like,
Statutory liquidity ratio
The adequate cash reserve ratio
Compliance with priority sector lending norms
The reason for the time that it took to merge both these organizations was the size of their books. HDFC limited and the bank’s book was huge and it was difficult to plan the merger which took time.
There was also some speculation about the person who will guide the merging body. It was long in the works and it finally is seen to have settled a little. There will be many benefits from the merger like the cost of capital is going to be lower due to the synergy with which the company will operate.
Another good aspect is that interest rates will be low they will be the lowest as compared to some past decades. As the companies, HDFC and HDFC bank have a large stock of liquid assets in their inventory, they will provide a good financial backbone to both entities.
Benefits of the HDFC and HDFC Bank Merger
The news was not enough to set up the theme of reason. Here we will be listing the benefits that the bank will be seeing in the future and the reason why they are looking positively for a merger in the home loan and the bank of the same parent organization. Let us see how the merger is going to be beneficial and the normal benefits of a merger first.
Safety and Profitability
A merger can be very beneficial and it can secure the resulting organization to a great extent which ensures safety and profitability. A merger lets the existing shareholders reorganize the shares of the entity and make a better arrangement for the resulting entity.
Stronger Entity
Another reason for a merger can be that the resources of both the companies and entities add on and they become stronger as an entity. Many companies also enter into a merger or amalgamation to enter new markets to diversify their portfolio of products which will enhance the profitability and profit-making capability of the company.
Other ways companies want a merger is to get some assets from other companies which would have taken much time to buy or set up in their organization.
Taxes
Merging with another company also helps many times, saving tax by lowering the tax liability that is generated for every company. A merger can also be used to eliminate competition between two entities that work in the same sector of products and are fierce in their quality controls department.
By the way, companies like these can work towards the same goal of profitability with more strong arms and assets. This merger will also help in better planning and utilization of all the financial resources that both the companies entail.
The HDFC amalgamation has a lot to do with these above-listed benefits. Apart from the benefits listed above, this merger will have more unsaid benefits like,
Benefit to Investors
The amalgamation between the parent organization and the banking division or arm is going to persuade more investors to stay invested in this joint venture. This move of merging will provide synergy to both the individual entities and will help foreign investors give more abundance to invest into.
High EPS
The merger or the amalgamation will also help in increasing the EPS of the bank. EPS here refers to earnings per share and is a financial metric to judge a company. In normal circumstances, a company with a high earning per share is considered more investing worthy than a company with a low earning per share (EPS).
Stock Price
Another small-term benefit for both entities was that the stock of both companies rocked on the stock market. The stock of HDFC bank closed at a 10 percent higher rate, which valued the private commercial bank at a valuation of 9.2 lakh crore. On the other hand, the stock of HDFC which is a housing finance company rose about 9.2 percent and landed the company at a valuation of almost 5 lakh crores.
HDFC Bank and HDFC Limited Share Price
These were some of the most noticeable benefits that Both the merging companies will get if they work in synergy. After the IL&FS crisis, that happened in 2018, the apex bank of India, that is the Reserve Bank of India has been forcing NBFCs or Non-Banking financial institutions to be more of a bank.
According to the rules of the Reserve bank of India, they are mandated to set aside a good chunk of money as reserves to ensure precaution against thefts and frauds. This made managing NBFCs a little harder and more challenging.
HDFC Chairman Deepak Parekh admitted that the bank-like regulations for NBFCs were the final nudge for the merger and it was the core point that triggered this big sort of a merger between the parent organization of HDFC and the private lending arm of HDFC.
HDFC chairman Deepak Parekh said shareholders of HDFC will get 42 shares of HDFC Bank for every 25 shares held. HDFC’s 26% stake in HDFC Bank will be extinguished as per the terms of the merger. HDFC Bank will be 100% owned by public shareholders, with existing shareholders of HDFC Ltd owning 41%.
“Change is inevitable, but is welcome when it is beneficial to all the stakeholders. The merger not only makes the combined entity strong enough to counter competition but makes the mortgage offering more competitive,” said Parekh.
All these reasons enlist the core set of reasons which led HDFC to merge with its private lending arm HDFC bank and is set to become the biggest merger in the history of Indian corporate history.
The current status of HDFC is worth a watch. The private lender department or the HDFC bank’s loan book now stands at about 12 lakh crore. One of the current goals of the banking arm is to naturally jump to 18 lakh crore and this is not an easy task.
The merger will help in adding resources, both financial and synergic. This task will involve some tight arrangements between profitability, asset quality, and the growth of the organization.
This is another benefit that is often unlisted in this famous merger. Roping in the parent organization of HDFC will help the banking arm get some relief from the tight arrangements of its books. It will be an easier and more economical option for the entity.
Another aspect of the merger can be seen in the private loan lender participant in the amalgamation. The bank, whose total value of home loans stands up at about 11 percent, will jump and magnify to 33 percent.
The other effect of the merger will be that it will make HDFC bank the second largest bank in India. It is a great feat for a private lender like HDFC and is further expected to increase the value of the lender. While the space between the HDFC Bank and State Bank of India would be around 6 to 7 lakh crore.
ICICI Bank on the other hand would be a distant third in the order, that too with a gap of over ₹10 lakh crore. Thus, the position of the HDFC Bank is quite sure to get better.
“Change is inevitable but is welcome when it is beneficial to all the stakeholders. The merger not only makes the combined entity strong enough to counter competition but makes the mortgage offering more competitive,” said Deepak Parekh who is the current HDFC Chairman.
Over the years, HDFC Bank has outgrown its parent both in terms of valuation as well as asset size. “The proposed merger will benefit the economy in many ways. A larger balance sheet and a larger capital base will allow a greater flow of credit into the economy,” said Parekh.
If we look at the Definitive data, it will mark the largest banking sector M&A globally since April 2007. S&P Global Ratings said the deal would create an entity twice the size of ICICI Bank.
Impact on HDFC Mutual Funds
Before the merger, HDFC limited and the HDFC bank had about 5.66 percent and 8.43 percent share in the Nifty 50 which was a big anchor for both organizations. Now, after the merger, their combined efforts of merging the organizations into one single entity have resulted in a share of 14 percent in Nifty 50.
However, a rule states that exposure for a single stock cannot exceed the 10 percent cap in a mutual fund scheme portfolio, and this merger as we can see breaks the limit.
As a result, mutual funds may have to remain underweight on the stock and that will lead to its repercussions. One of the repercussions is that the fund managers will not be able to benefit from the outperformance of the merger, which can turn out to be a dealbreaker for many managers.
Unless the weight of the stock lies under the cap of 10 percent, according to the rule, these mutual funds are expected to underperform the market.
Swap Ratio of HDFC
What is the swap ratio? The meaning is hidden in the words given above. Swap means to take part in the exchange for something. More formally, a swap ratio is a ratio, which is the exchange rate of the shares of the company that goes and forms a merger. This ratio is calculated by the valuation of various assets and liabilities of the merging companies.
In the case of the HDFC parent organization and the HDFC Bank, the swap ratio will be somewhat tricky. The merger has a lot of complexity and it was speculated to be in process for about a decade now.
First, the regulatory body will have to give a nod to the HDFC group to set the merger in a running state. After that, the process could take about 14 to 18 months and with this data, the merger process is expected to be complete by the end of the financial year 2021.
The swap ratio will look like this, 1:1.68. That can be interpreted as, for every twenty-five shares held in the HDFC limited (the parent organization), Forty-two shares of the bank will be allotted.
Cost Optimisation of HDFC
One of the major benefits of a merger is cost optimization. In this scene, it is expected that the cost will be optimized, but in the long run. As two big organizations join hands to operate in synergy or harmony, costs are mostly expected to go down.
This is also expected in the HDFC case too. However, as the organizations are big and strong, cost optimizations will happen in the long term. It will take some time for the cost optimization to show and reflect.
Some experts are also speculating that if the merger worked in a short span and got established, it will be a drag on the HDFC bank. It means that if the merger is established and started working together by the end of the financial year 2025, then it will drag the costs of HDFC Bank.
The cost of statutory reserves is increasing and the home loan segment is not too strong in the short period. As both are getting merged, they are expected to generate a net interest margin of four percent. HDFCs bank books might not look good in the initial years of operations, as the merger turns out fresh but it is expected to benefit in the long term.
So what will be the result of the merger? The answer is hard to say, as we should try to look long term but we can see what the results will be in the short term of time. The stakeholders or the investors of HDFC limited will get shares of the HDFC bank.
This is good news for all the investors of HDFC Limited as they will get shares of HDFC bank, and it is a good deal overall. All these are the result of mergers happening in two big entities in India, HDFC limited and the private banking arm of the same organization, HDFC Bank.
This merger is said to be the biggest merger in the history of corporate mergers in India. It will be a benefit to both the participating organizations, HDFC limited and the HDFC bank. In these times of uncertainty, mergers like these can be a big relief to the economy.
FAQs
Which bank is merging with HDFC Bank?
HDFC Ltd is merging with HDFC Bank.
When did the HDFC merger start?
The HDFC merger was started officially on April 04 2022 by the announcement made public by the officials.
Who is the founder of HDFC bank?
HDFC Bank was founded back in 1977 by entrepreneur Hasmukhbhai Parekh.
What happens after the HDFC merger?
There will be many changes noted after the merger of HDFC-HDFC bank. Changes like investors of HDFC Limited will get 41 percent shares in the merged bank. On the other hand, the shareholders of HDFC Bank will get access to the loan department of the company.
Mahenoor Mansuri
