The Fast-moving-consumer-goods (FMCG) is quite an established market. These industries have always proven themselves worthy of the consumers’ purchasing and reliable choice. When looking a little back in time, FMCG was considered wrong for entering the business industries. However, with time, many young businessmen or entrepreneurs put their foot in the direct interaction with consumers regarding the product, and shockingly, it received great acknowledgments and achievements. This came out to be the FMCG business model.
This kind of business model interacts directly with the consumers by cutting out the retail and charging at wholesale rates. This also supports and helps the FMCG players with the opportunity to establish their position in the market. With the FMCG business model, different categories are discovered and some great innovative types of business models. FMCG industries work mainly on the e-commerce platform.
Looking at these facts, it’s likely to say that the FMCG industries possess great kinds of business models and promote innovative contemplation. Through this article, we would explain to you how FMCG industries make money along with some distinct business models.
FMCG means Fast-Moving consumer goods. The direct-to-consumer business encompasses highly demanding products, sells rapidly, and comes at a very reasonable price. These are also known as Consumer packaged goods (CPG). The products in these industries are very fast-moving as they are convenient to deliver and sell very quickly from the stores and supermarkets because of the daily usage in our life.
The FMCG industry includes some of the biggest brands worldwide. Such as Nestlé, PepsiCo, JBS, Procter & Gamble, Coca-Cola, Unilever, and many more. It’s always advantageous to work in this industry as it brings out great career opportunities.
FMCG industries reached up to US$ 52.75 billion in FY18 and by the time of 2020, it rose to US$ 103.7 billion. With the sector of food items, hygiene, rural areas and health; the FMCG industries have grown with a 7.1% increase in the last 2 months of 2020.
When the product demands increase in the rural sector, it brings out a great revenue rate for the FMCG industry. The rural area contributes around 36% pg total FMCG industry spendings. As the government also put huge effort into the hygiene and health of the rural regions, the FMCG industry gained up to 10.6% of growth recovery.
The government initiatives for the low unemployment rate, high agricultural produce, and reverse migration for the advancement of the rural areas. When such initiatives are taken, the FMCG industry gains a great amount of profit in hand.
Growth of FMCG Market size in India
FMCG Business Model
Let’s take a brief look at some of the data-driven business models of FMCG Industries.
Premium Service Model
Premium Service Model offers great consumer services. It provides a premium fee that is linked for the customers to sign up. It possesses substantial benefits and encourages the customers to sign up.
Through the increase in business insights, the retailers gain the incremental revenue that targets the customers more consistently and brings functioning modifications to them. Premium Service Model promotes customers loyalty, enhances sales, and has the average basket size.
Differentiator Service Model
Differentiator Service Model offers some very heightened benefits to the customers and also offers the chance to purchase the same times again. Moreover, it gives rewards that boost up the purchasing tendency.
Differentiator Service Model guarantees good customer loyalty and increases the basket size by purchasing the same items again and again. The retailer, however, gets access to the minute customer’s data such as the email, contact details, history, and many others.
Return on Advantage Model
Return on Advantage Model also referred to as the Competitive Advantage Model focuses on driving the business insights for the growth of new products by combining the internal transactional data with the third party data. This also targets the experiences between the online and offline platforms and for better customer segmentation.
This business model targets customer segmentation to enhance its capabilities. Through this, the purchasing patterns are identified and assembled to gain a better possibility of targeting the customers.
FMCG Industries has built a significant position in the market with its advanced product awareness strategies and customer loyalty. Here are some of the marketing strategies of the FMCG Industry.
Multiple Branding
In FMCG marketing, Multiple Branding is one of the most fascinating techniques to hold up the potential customers and strong market position. In this technique, the company creates fair competition among the same brand product categories.
Product line Building
Product line Building offers a wide range of variety to the customers based on their choices by altering the names. A company manufactures the same product with different needs of customers and sells them accordingly. However, there isn’t any specific competition between such products as the target audience for each is distinct.
Huge Distribution Network
A huge Distribution Network is one of the very essential marketing strategies based on significant locations. This helps the product to reach every corner to gather its potential customers.
New Products Development
The company often modifies its products and then removes the old inconsistent ones. This helps them to maintain the competition and standards in the market. In this strategy, the company kept on researching and developing new features in their existing products. After modifying the product according to the consumer’s needs, they replace the older ones with these.
Flanking
Flanking is one of the very interesting FMCG marketing strategies. It sells the same product in different volumes and packaging. This helps the consumer to stick by the brand and purchase the product according to their favorable need. This brings a good option and probability for consumers to purchase the product.
Brand Extension
Normally when a company has made its strong position in marketing, to keep it consistent the company manufactures more products with the same name but different features, to gain massive sales. Brand Extension strategy is very essential as it brings more value to the brand and reaches the target audience quickly.
Conclusion
The Fast-moving consumer goods (FMCG) industry possesses some very strong brand holding in the market. With its incredible strategies and plans, it brings out great reliable growth development. FMCG industries are one of the most advanced and popular industries. It calls out a different business model to gain the required upholding with its consumers. FMCG industries include some of the very prominent brands worldwide that prove their success in the marketing field.
FAQ
What is the biggest FMCG company?
Switzerland’s Nestlé is the world’s largest fast-moving consumer goods company, followed by two US giants: Procter & Gamble and PepsiCo.
Which FMCG is the best?
Some of the top FMCG companies are Hindustan Unilever Limited (HUL), Colgate-Palmolive, ITC Limited, Nestlé, Parle Agro, Britannia Industries Limited, Marico Limited and Procter and Gamble.
How do FMCG companies work?
In the FMCG industry, manufacturers often sell the goods to wholesalers, who sell them to the retailers, who in turn sell them to the consumers. This is a two-level channel.
Google is one of the most acclaimed multinational conglomerates in the world, as it runs multiple businesses under a single brand. Its most successful business sector is Google Play which was also known as Android Market, the platform is one of the top digital distribution services and is a brainchild of Google.
Google play was initially launched in October 2008 and then re-launched in March 2012 after combining the Android market and Google together. Google Play is the official app store for every device that runs on an android operating system. The platform allows users to search and download apps that are designed and developed for android devices.
It also acts as a digital media store that offers music, e-books, movies, and TV programs. The apps can be downloaded directly from Google play, while the platform allows its app developers to make apps that are free and charge a fee. The platform had over 82 billion app downloads just in 2016 and had over 3.5 million Android applications available in 2017.
With the rise of the Internet, one organization that has remained constant and improving from the very beginning is Google. It has managed to do what most people would say is impossible. It did the exact same thing that its slogan says and in every case, better than that. They proudly say that their mission is to “Organise the world’s information and make it universally accessible and useful”. Simple it may sound but it is a herculean task.
The Google story begins in 1995 at Stanford University. Larry Page was considering Stanford for grad school and Sergey Brin, a student there, was assigned to show him around. Little did they know that they would lead the information revolution afterward. Google (of course) outgrew the garage and they eventually had to move to its current headquarters (also known as ‘The Googleplex’) in Mountain View, California.
As Google grew, they began hiring more and more and made the company truly big in every sense. They launched Google Play Store, Drive, and all of Google suite with one Email ID. So, with one ID people could use all of Google, be it Document creating and editing, spreadsheet updating, and sharing, or anything over the internet.
What is Google Play Store?
Google play store is one megastore in your smartphone. We mean it quite literally. Google play store is a subsidiary of a service that is provided by Google to its android users. The store can be accessed instantly if you have an android device, in fact, it comes pre-installed on every new smartphone. It is important to note here that there are more than 2.8 billion android users in the world as of now. This is a huge number and Google caters to them all.
Google play store is a marketplace for Apps, Music, Movies, Books, TV Shows and many more. It is a single place you need to get almost all the work done that you want from your device. Be it work-related apps, professional suites or any sort of craving for entertainment, you will find it all on the Google play store.
Google play store strives to create an environment that a user wants, it does it so well. Not only this, but apart from being a perfect yet simple place for users, it also helps developers get the right audience for their work.
What are the Services Provided by Google Play?
Some of the main services that Google Play offers are:
Google Play Games
Google play games were launched in 2013, and since then it has been an online gaming service for Android devices.
Google Playbooks
Google playbooks are one of the leading e-book distribution services as it is available in 75 countries. It currently has more than five million eBooks available for purchase and offers the user an option of uploading over 1000 of their own eBooks in the form of PDFs.
Google TV
This is the Video-on-demand platform of Google that offers a wide range of movies and TV shows that can be purchased or rented. The platform was earlier known as Google Play Movies & TV and has its movies available in 110 countries while its TV shows are available only in a select few countries.
Google Play Pass
This platform was launched in 2019 and is a games and app subscriptions services that are available only in America. Google Play Pass is invitation-only for app developers.
Google Play Music
This app allows its user to listen to and download music. Currently, the app has over 15 million subscribers.
According to Google Play, the app developers receive over 70% of the app price, while the other 30% goes to Google Play as they are the distribution partner and as a part of operating fees. The platform also allows the developers to make sales on their app, on the basis that it informs its users when the sale ends. The application developers can also release an early version of their app to a certain group of users or even allow their users to pre-order the apps before they are released.
For regular subscription-based payments, it charges 30% for the first-year subscription consumer pays and then the app developers can continue paying15% for all subsequent years. This model is similar to the business model of another app store like the Apple app store. Where the app developers pay some money to the app store in order to hoist their app and get the remaining amount of money from their user purchases.
A Google Play advertisement
How does Google Play Make Money?
There are two main ways Google Play makes money
Advertisements
Google allows its users to promote apps on its platform by using certain keywords that are shortlisted by app developers. So when a user is searching for a certain keyword they can get your app listed on the top.
Service Fee
The revenue source of the Google play store is simple and it is primarily a Service fee from developers.
If a developer wants to sell an app on the Google play store then Google asks for a Service fee from the developer. Quite anything or service that developers would want to sell, can be a subscription service too. However, any in-app purchase is not commissioned by Google.
Google Play Store Fee
Google also takes a 30% cut of the revenue made on an android app from the developers.
This should be quite clear by now that Google only earns money when developers charge something from the customers. So, the revenue model works only when developers are making money. This creates a hit and takes effect on the whole relationship. This also ensures that both parties are putting efforts to be more efficient and convenient.
How much does Google Play Make?
On 30th August 2021, the platform disclosed the revenue of the platform for the first in 13 years. According to the declassified documents of the Google play store, the total revenue of the platform is over $11.2 billion (Rs. 82,000 crores) in 2019. This amount is said to include the price of the app (which it charges 30% of), additional in-app purchases, and revenue generated via advertisements on the Play Store app.
This information was disclosed because of an antitrust lawsuit that was filed against the Google Play store by several districts and states in America claiming that Google Play Store exercises a monopoly over application distribution. Out of the $11.2 billion total revenue, over $8.5 billion is the gross profit of the app, while the operating income of the Google play store is $7 billion.
Google Play Developers Support System
If you are a developer for an app, all you need is an audience for your beautiful creation. Google play does that work for you so that you can focus on more important things for your application. It offers a ready-made market for apps and games. They have a capacity of about a little over 2 billion users monthly. With this huge number of people transacting with Google every month, it is going to be a booming opportunity if you can tap this market.
If you are a developer who wants to distribute an app for free to the globe then you don’t have to pay a single dime. Yes, you read that right, Distribution is fully free for the developers who do not charge for their apps and games.
Moreover, Google also provides full support to each and every developer. Be it on the edge of developer training, user data, and up-to-date information, helping tools, and more. Let me tell you precisely how Google helps developers in various domains, they are,
Distribution
Google play store provides the technical interface to distribute apps made by developers to the world. They have billions of monthly active users. If a developer is able to get his/her app on the Google play store, he/she can get the benefits of a global market. This will jumpstart revenue for them and value creation for its users.
Development and Support
Google provides state-of-the-art facilities to developers. The range of support can start from quality control checks, application testing, and user analytics to its Android studio, play console, and Android software development console. All these supplements allow developers to make their work better and provide better value.
Compliance
Google play store provides a full-fledged ecosystem for a developer’s app. They can categorize, target, and even regulate the market for their apps. This helps them to target the right audience and market, this compliance is a good help for developers who know their work. This ensures proper distribution of their product.
Payments
Developers who make their app accessible after a purchase can totally rely on Google play as a mediator for efficient distribution. Google ensures the utmost security and safety for payments of any sort. They also act as a currency converter for apps that are famous worldwide, like Spotify or Youtube.
All these add-ons make developers make better apps and thus share more of the market. This improves the market as well as the revenue for developers. Thus google play makes the perfect ecosystem for developers to foster their growth. With the right tools handy, developers will do their best work for their users.
Google Play Safety
While Google connects all android users for the love of apps, they do it very securely. With the state-of-the-art infrastructure in the face of security and safety, Google sets new parameters for privacy. Every app in the Google play store is scanned and tested, and only then is added to its app library. They scan more than 100 billion apps every single day to ensure no security leaks. This provides users with enough data for potential threats and trusts for Google.
Google Play Protect
In addition to the everyday checks, every app is put up on the store only after it clears the compliance parameters set by Google experts. They leave no stone unturned.
Some of the parameters that are set by Google are listed here –
Intellectual Property Security
Many applications try to use other apps’ goodwill to generate revenue by deceiving their users. Google has strict standards to avoid such deceiving. They do not permit apps that are similar to other apps in any domain, thus they cannot use other brands to mislead users. This protects the intellectual property rights of genuine apps and services and acts as a wall of protection for brands as well as for users.
Content Restrictions
Google knows very well that the internet is filled with good stuff as well as garbage of all sorts. They do not allow any sort of content that depicts any sort of abuse, harmful products, sexual content, profanity, hate speech and any sort of inappropriate content. This filters the Google play store and makes it accessible to everyone.
Abuse and Deception
As mentioned in the earlier point, Google has hard parameters for all sorts of apps. It does not allow any app that includes deception, abuse, and any malicious information. These kinds of apps misuse the personal data of users and the data can be used for multiple bad intentions. Thus, to prevent this, Google has found a solution. Every app developer has to submit to Google what data the app collects and how the data is used and utilized for app functioning. This makes the developer more accountable on the basis of customer service and privacy.
Application Functionality
The developer has to inform Google about the minimum requirements that are needed to run the app. This is in order to respect the customer user experience that adds to the overall experience of the application. This also reveals spam (if any) on the developer’s side.
Store Listing
All the app developers have to include a crystal clear definition of everything about the app, if they fail to do so and any information is wrongly listed, then Google has all the rights to unlist the app from the store. Any misleading data or promotions can lead to a permanent ban on an app.
Even after all the checks and permits, If a user finds anything wrong with an application then he/she can report complaints. Google has made it very convenient to report abuse across all its services. Developers can also flag some apps that violate their intellectual property rights. This ensures a smooth ecosystem for everyone.
Google Play Store Flag as inappropriate
The Lawsuit against Google Play Store
The case was filed by attorney generals from 37 states and districts of America because they taught that the platform was cutting down the profits of app developers and taking a huge commission on sales. The lawsuit also says that Google is using illicit measures in order to maintain its monopoly. The next trial is expected to be in late 2022.
According to Google, however, this case is nothing but a meritless lawsuit, and said that the data mischaracterizes its business. Google also has another lawsuit filed against it by Epic Games, which is the creator of a popular game known as Fortnite.
Epic Games along with other app developers are separately suing Google because they think that the platform is taking over 30% of the fee for every digital good sold as in-app purchases and generating huge amounts of profits. According to Epic Games, the company came up with a Premier Device Program through which it offered a share of Google Play Earnings to other big companies like LG and Motorola.
Conclusion
We learned that Google is a pioneer in technology and that the Google play store is here to help every user and every developer. Google was changing how people consume information and now is managing every app that you can think of.
Google play store works as a perfect ecosystem for developers and users on all the upfronts, be it security, safety, privacy, and intellectual rights. We learned how the Google play store earns revenues.
Not only this, Google is striving every day to be the better maintainer of almost every device we use. From the Digital well-being feature to the whole entertainment pocket industry. It is no doubt that its innovation leads the technological revolution in the world. Be it on the device on our palms to the satellite outside this earth. Google knows how to make the internet a better and a convenient place for everyone.
FAQs
How does the Google Play store make money?
According to Google Play, the app developers receives over 70% of the app price, while the other 30% goes to Google Play as they are the distribution partner and as a part of operating fees.
Is Google Play profitable?
Yes, Google Play generated $11.2 billion in revenue from its app store in 2019.
What percentage does Google Play take?
Google Play store takes a 30% cut and, 70% goes to the developers.
The automobile business is one of the world’s fastest expanding and evergreen industries, particularly in India, where it plays a significant role in the country’s economic growth. Customers who are enthusiastic about cars and bikes will gain most from the industry’s perception of various automobiles culture of the industry. Droom is an online marketplace in India where you can buy and sell new and used cars. Sandeep Aggarwal established Droom in 2014. Droom provides a large variety of automobile categories and also other all connected services such as warranty, insurance, finance.
A variety of elements influence a customer’s decision-making process when acquiring a vehicle, including price, performance, mileage, and vehicle ratings and reviews. Customers look for easy online platforms for buying and selling automobiles as the use of the internet and technology for activities such as shopping grows.
Droom is a renowned autosite that provides an online platform for the vehicle industry. This is a digital automobile platform that employs technology to facilitate end-to-end vehicle sales and purchases from the vendor to the buyer. Droom’s broad and thorough platform allows users to buy or sell a variety of vehicles, from bicycles to aeroplanes. Droom is the largest online automobile platform in India for buying both used and new vehicles, and is also the fourth largest E-commerce site, with an 80% market share of India’s online automobile transactions.
Droom’s business began in Delhi as an online marketplace for old vehicles, but after three months, it expanded to include two-wheelers as well. The brand spread its services across 100 cities within a year. After another six months, the company began offering services such as roadside assistance, warranty, and insurance. They also expanded their services to include seaways, planes, bicycles, and other vehicles.
Business Model of Droom
Droom’s Business Model
Droom’s tenacious business model was important in its growth and success. Let me first define what the term “business model” means before examining Droom’s business plan.
A business model is a form in which an organization is built, that supports the practicability of a product or a company and portrays how an organization operates and goes forward to achieve its aim. As a result, a business model encompasses all of an organization’s operations and regulations.
Droom’s business model is divided into four categories: business to consumer, customer to customer, customer to the business, and business to business. The business to consumer model accounts for the majority of its revenue (approx. 88%), with the customer to business and customer to customer models contributing 10%, and the business to business model accounts for the remaining 2%.
Value Proposition of Droom
A value proposition is a value that a firm claims to deliver to its consumers, and customers prefer to buy their products or services based on that value. Droom’s proposition of value is unique, consisting of pricing, trust, and transparency. It provides buyers with a low cost and large selection, while sellers have access to a large number of online shoppers, a full range of e-commerce services, and so on, allowing them to manage their online store at Droom.
Droom has become the first car gateway worldwide to house the entire ecosystem of the automotive, with additional elements such as price, finance, history, tools, and marketplace.
Droom provides its customers with a variety of ecosystem products and services which are mostly technology driven by combining, data science and artificial intelligence such as using the “ECO App” for getting vehicles’ inspection reports. It also offers purchasers a full circle trust score to verify that the sellers with whom they are engaging can be trusted.
Droom launched a pricing system for automobiles called Orange book value (OBV). It is the first company to introduce this feature in India. This assists dealers and consumers in determining the fair market price of automobiles. This is data-driven and unbiased. Consumers can also use this tool to see if a vehicle is available on the market. It also has Droom discovery, Droom assists, and Droom credit to help buyers and sellers.
Division of Customers in Droom
Droom’s target market is online consumers and internet users. In a larger sense, the company’s customer sector is classified into four categories: Buyers, Sellers, Dealers, Enterprises.
Droom has created four marketplace types to ensure harmonious and smooth buying and selling operations. It offers a variety of purchasing choices to meet the needs of each buyer, which creates a major trust factor.
Droom strives to be incredibly transparent. It allows sellers to upload an unlimited no. of listings and promote to a large audience on the internet, and it allows sellers to sell both used and new vehicles.
Droom offers dealers self-service accounts, such as StoreManager. Dealers can use this to run and manage their internet company from anywhere at any time.
Droom’s customers also include businesses involved in the automobile industry, it provides vertical enterprise solutions. It also offers a variety of effective advertising options.
Important Resources of Droom
Droom uses technologies such as AI, Machine Learning, Data Science, and Big Data in its core services such as customer assistance and the development of various tools such as OBV, and so on. These are the key resources of Droom. Labs of Droom are dedicated to using world-class technology apps to provide excellent user experience and user satisfaction.
The company has a customer-centred approach and its trained and talented team of officials reach out to buyers and sellers helping the organization reach a certain level of growth.
Client Relations with Droom
Droom focuses on establishing trustworthy and strong client relationships and strives to provide excellent customer support and management, that is its assistant tool: Droom Assist. This tool helps buyers and sellers with guidance and consultation services. It also helps in transactions of its customers by making them easy and transparent. Droom improves its relationships with consumers by providing security to their funds with the use of easily refundable tokens.
Major Activities of Droom
Droom encourages its services and features through marketing and promotional activities on several social media platforms such as Facebook, Linkedin, etc. It also undertakes researches at its AI labs to develop improvements that would enhance customer satisfaction.
How does Droom Make Money?
Droom mainly has four sources to earn revenue that are, Service fees, Premium tools, Subscription, and Advertisements.
The service fee is the main source of revenue, and this is charged on every successful transaction on the platform. This varies according to the vehicle type.
The subscription plan is offered to various big auto dealers, and the company provides them with online products and services.
Its premium tools include OBV, Droom credit, etc. Droom also earns a lump of money from advertisements as it advertises different auto brands on its platform. This also helps in doubling traffic on the platform.
Competitors of Droom
Droom faces major competition from companies such as Car24, CarDekho, OLX, and Quickr. Droom has several advantages over its competitors such as, it follows all the models of business and it is very efficient for buyers and sellers to get on the platform and use its services and provides an end-to-end service.
Conclusion
Recapitulating, Droom operates on a Business model, a plan that is well-integrated with technological advancements and a progressive model. It gives details to distinctive marketing activities. In the future, when automotive sales are expected to skyrocket, Droom will be facing tough competition, even though it has a big advantage overall.
FAQs
What does Droom Company do?
Droom is India’s first automobile e-commerce platform that allows you to buy and sell automobiles online.
How does Droom make Money?
Droom mainly has four sources to earn money that are, Service fees, Premium tools, Subscription, and Advertisements.
Images, illustrations, videos are something we all need today. No matter the occasion or need, whenever we want any image, we Google it.
The moment Google images open, we can see an unlimited range of images to select from. But all these images are not free from copyrights.
If you want some images for your work, then it is not correct to use the images with copyrights. So, here comes Pixabay to your rescue. It has images, illustrations, videos, and music. The best part is all these are free from copyright.
Pixabay is like a blessing for creatives. It has attained great success over time with its easy-to-use services. It has a custom Pixabay license that allows you to use the content without any permission.
Pixabay is a website that provides free photography and media. The content available on the site is free from any copyrights as it belongs under the license of Pixabay.
It is a popular website for sharing images, graphics, illustrations, music, video, etc. Most of the material available is free with certain restrictions.
One can use this content for market purposes as well without permission.
Pixabay was launched in the year 2010. It is the creation of Hans Baxmeier and Simon Steinberger.
Hans Baxmeier and Simon Steinberger
Things to Keep in Mind While Using Pixabay
Dos:
The content on Pixabay is available to the users for free. They can use it for any purpose as they like.
It is not mandatory to acknowledge the source of content to anyone.
One can make alterations in the Pixabay content according to the needs.
Don’ts:
The free stock image website has certain restrictions for its users. These include:
The users cannot take content from the site and resell it on other platforms.
Make sure that you don’t portray identifiable people in an offensive manner.
Remember not to use the exact image content from the site as a physical product.
How does Pixabay Make Money?
Pixabay is a website that provides free images, illustrations, graphics, and more. It is a great platform for creatives.
Since the site is quite popular now, it attracts huge traffic towards it. There are various ways to monetize traffic. Some of them include:
Traffic
Traffic is the king for any website to be successful. There is no point in a site if it does not attract traffic. Pixabay offers unique products and services that too free of cost. This quality makes it a popular site in the creative market.
Over the years, Pixabay has been able to attract quite a great amount of traffic. It has about 36 million total visits. It possesses a monthly growth rate of 6.39%.
SEO
SEO stands for Search Engine Optimization. In simple words, it means to enhance the website as per the search engines (Like Google).
Pixabay is altered according to the search engines. This helps the site to stand out from the plethora of websites available. SEO helps to attract organic traffic towards the website of Pixabay. This in turn helps Pixabay to monetize.
Social Media
The popularity of social media is increasing by the day. It provides a huge active user base. Pixabay also has its social media presence. The easy accessibility of links over the social media platforms, helps the site to gain traffic.
Over the years, Pixabay has earned a strong follower base on social media. This is another way that helps the site to earn money.
Email Listing
Pixabay is a website that offers free products. So, one of the best sources of monetization is email marketing. This helps the site to maintain its user base.
Email promotions get done by delivering free reports that contain affiliate links in them. Thus, monetization for the site takes place.
Once a user subscribes or signs up to the site, this process can begin. These emails are automated. It means they get delivered automatically whenever a user signs up. In this way, it targets genuine users and does not send spam emails.
Advertising
Pixabay also earns some money from advertising. When you go to Pixabay and look for images, you will find images from Shuttershock.
These images are more professional. These are not free; one needs to pay to have these. In this way, Pixabay acts as an affiliate for advertising Shuttershock.
Can you Upload Photos and Make Money on Pixabay?
The answer to the first part is yes. Yes, you can upload images, illustrations, or other content on the website. But you cannot earn from it. Unlike other websites, Pixabay does not pay the artists for it.
One can upload the content on the website to reach a wide audience around the world. Consider it a charity of art and a tool to earn an audience.
What Makes Pixabay Stand Out?
A number of sites give access to free images. Pixabay not only offers free images but also other content. This includes illustrations, vector, and video content.
The best part is you can enjoy all this creative content for free.
What is Vector Graphics?
A vector graphic is an image that is made up of separate colour blocks. Unlike a regular image, its pixels are not combined but are built by mathematical formulas. This allows a person to modify every part of the image separately.
These are created in a design studio. So, if you have ever made something on Adobe photoshop, it means you have made a vector file.
For example- if you create a vector scenery in a design suite, you can alter every element of it. You can change the colour of trees, mountains and more. Pixabay even provides these vector images for free.
Conclusion
Pixabay is a great platform to get images and other graphics for free. It is a super useful platform for beginners in the creative field. It gives access to a wide range of images, illustrations, videos, and vectors to experiment with.
Pixabay makes money through its traffic, social media, email, and affiliate marketing. All this has helped the site to function in an efficient manner. In 2019, Canva acquired Pixabay. Now, the users can have access to Pixabay’s images through the platform of Canva.
FAQ
Is Pixabay really free?
Yes, Pixabay offers images, videos, and music for commercial and noncommercial use.
Does Canva own Pixabay?
Yes, Pixabay and Pexels were acquired by Canva in 2019.
How much does Pixabay cost?
Pixabay provides images that are free for anyone to download.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Google Pay.
Do you want a single platform for managing UPI money transfer, phone recharge, QR code payments, bill payments, and other cashless transactions? Your search ends with Google Pay. A robust platform that enables you to go cashless, Google Pay has established itself as one of the top names in the digital payments segment. Bank transfers, sending and receiving money, online shopping, and several other services have become as easy as cracking an egg with Google Pay.
Millions of Indians now rely on this Google offering for all their payment-related needs. And the number continues to increase with each passing day. StartupTalky covers the Google Pay success story in this post. So, dive into it below:
September 11, 2015, and then renewed on January 8, 2018
Website
pay.google.com
Google Pay – Latest News
December 21, 2021 – Google Pay and Mastercard ties up to enable the GPay users to transact with their Mastercards via token, without having to use their debit card details.
Google Pay, often referred as G Pay is founded on May 26, 2011. Starting initially as Google Wallet, the digital payments platform has changed its name to Android Pay later on September 11, 2015. The app was then launched as Tez before finally settling on the name Google Pay on August 28, 2018.
Google Pay serves as a digital wallet-cum-online payment system developed by Google. The Google-powered digital payments platform enables the users to make contactless payments and purchases online via android phones, watches and tablets. iOS is another platform that supports G Pay for the users of India and the United States but with some restrictions. Google Pay works with Android Lollipop 5.0 and above.
The second most popular UPI platform in India helps the users to pay other merchants and individual users via the Tez mode, using QR codes, and through phone numbers.
The app is currently available for the users of 42 countries, as of 2021.
Google Pay was originally developed as Android Pay and was first released at Google I/O in 2015. This application was primarily modeled on Google Wallet that was released back in 2011. The technology of Android Pay was influenced by Softcard’s technology. Google then launched the payments app, Tez on September 18, 2017, pivoting the UPI system. Tez was later rebranded to Google Pay on August 28, 2018.
According to Sujith Narayanan, the Co-founder of Google Pay, it was while working on Google Tez (another offering by Google), he and his team realized that a consumer’s financial journey extends beyond digital payments. Moreover, there was a need to concentrate on the millennials in India and give them a new, fast and efficient way to handle their finances.
The founding duo finally decided on a product called ‘Google Pay’, which would redefine financial services for the millennials. Google Tez, a mobile payment service by Google that targeted users in India, laid the framework for Google Pay. Think of Google Pay as a superior version of Google Tez coupled with a plethora of offerings.
Google Pay – Founders And Team
Sujith Narayanan and Sumit Gwalani are the brains behind Google Pay.
Sumit Gwalani (left) and Sujith Narayanan (right)
Sujith Narayanan
Sujith Narayanan is the co-creator of Google Tez along with Sumit. Sujith is a veteran payments executive and has an enviable experience in the domain of financial services. He is also known as the co-founder of the neo-banking startup EpiFi. Sujith is an alumnus of the University of Calibut and Mahatma Gandhi University. Starting his career with Standard Chartered Bank, Sujith eventually resigned after 7 years as a National Sales Manager of the organization. He then joined Religare Macquarie Private Wealth as the Vice-President – Marketing and Channel Development before moving on to join Google.
Sumit Gwalani
Along with co-founding G Pay, Sumit Gwalani played an instrumental role alongside Sujith in starting EpiFi. He handled Google Tez’s operations in India. Sumit spent 12+ years at Google where he donned multiple hats. Sumit was a Research Assistant at the University of Columbia, Santa Barbara, before joining Trlokom as a Software Architect and eventually joining Google. Gwalani was a Computer Engineering student at the University of Mumbai from where he completed his Btech degree before pursuing a Masters in Computer Science from the University of Santa Barbara.
Google Pay – Name, Tagline And Logo
Google Pay is styled as G Pay. The logo of G Pay is cleverly crafted with the Google logo on one side and “Pay” on the other.
Google Pay’s tagline is “Money made simple”. A meaningful and interesting tagline, isn’t it? With Google Pay, handling money has become easier than ever.
Google Pay Logo
Google Pay – Business and Revenue Model
Google Pay does not charge its users for their access to Google Wallet. GPay allows its users to send money to bank accounts directly and for free. Previously, the company had an agenda of adding a 2.9% fee upon topping up wallets via debit card, which has been taken off.
Being a digital payments platform, Google Pay mainly collects its revenues via transaction-based fees that it collects from the online and in-app payments of the banks and merchants. Advertisements and product offers within the Google Pay app are some other revenue streams of the company. It also earns considerably by using the users’ data that it collects.
In 2017 Google Pay had earlier witnessed a growth of its monthly active users, which was recorded at 67 million. The same has presently estimated at 150 million, as of 2021.
The app has enabled more than 2.5 billion transactions and currently has got a running rate of US $110+ billion in transaction value. Moreover, it is also important to note that now Google Pay also gives the users the privilege of paying over 200,000 stores that are based in more than 3500 cities and towns, and to 2700+ online merchants.
Google Pay – Challenges Faced
With the backing from Google, one of the largest organizations in the world, Google Pay wasn’t subjected to the problems that small-scale businesses and startups face while starting out. Neither was there any dearth of resources. Though not exactly a challenge, a technical glitch on Google Pay’s app in 2020 did become a trending topic for some time.
Several users reported the app saying that their bank accounts were removed from Google Pay without any notice. Complaints on the matter were frequently posted on social media platforms. However, the issue did not bring about any serious consequences. The Google Pay team suggested that it might have been an unintentional action on the users’ part that delinked the app and bank accounts. A fix was implemented by the team and the situation was restored to normalcy. Google India issued a statement when it was asked by NDTV Gadgets 360 regarding the glitch.
Ambarish Kenghe, the Director of Product Management at Google Pay said, “We are aware that some users faced difficulties with linking their bank accounts on Google Pay today. The issue, impacting a small number of users, was identified earlier today and our teams have worked to resolve it and have implemented a fix within the hour. The issue stands resolved and users will now be able to use the app normally. Users facing any issue should reach out to Google Pay support through our app. We regret the inconvenience caused and are committed to providing our users a seamless payments experience.”
Google Pay – Growth
In the year 2018-19, there was a lot of traction with the payment products. The team launched a few new features successfully and also revamped the payment products globally. Google Pay specially focused on partnerships, ecosystem approaches as it forged deep relationships with central bank and government to build innovative products collectively. This made the products work together within the ecosystem.
GooglePay currently retains 35% market share in terms of volume and 38% of the shares in terms of values, as of October 2021. The payments gateway has last recorded 129 crore transactions, which amounted to Rs 2.50 lakh crore. Some growth highlights of Google Pay are as follows:
Google’s digital payment platform Google Pay hit 67 million monthly active users in just 2 years since it made its debut in India
Google Pay had contributed 59% in digital transactions in 2019
Google Pay is the second most popular UPI platform after PhonePe
Google Pay has partnered with numerous organizations around the world to date. Here are some of the most prominent partnerships seen by G Pay:
GPay has announced of its collaboration with SBI General Insurance, which would help the GooglePay users to purchase SBI’s Genearl Insurance plan directly via the app on October 29, 2021
The digital payments giant has partnered with Visa on September 21, 2020 to help the Visa card users to tap-to-pay, thereby securing all the transactions made via the app
G Pay partnered with 90 banking institutions from 9 nations on September 20, 2021
Google Pay is firmly partnered with India’s financial ecosystem, said the internet major on September 3, 2021
G Pay partnered with Leumi, an Israel-based bank to enable the bank’s users to use the Google pay digital wallet on September 2, 2021
Amazon Pay is a platform for digital transactions. It is similar to Google Pay in terms of functionality and features
PhonePe is popularly known as India’s leading payments app. It allows people to use BHIM, UPI, credit card, and debit cards to recharge phones and make payments
Paytm is an Indian e-commerce payment system. Paytm offers multiple services through its ecosystem; some of them are e-wallets, bill payments, phone recharges, and an online shopping store (in the form of Paytm Mall). It is headquartered in Noida, India.
Google Pay is always planning something new and unique for its users. The company has announced that it would be transforming its app into a personal finance hub for the users. This would further simplify the payment of funds to friends and family.
Google Pay – FAQs
Is Google Pay an Indian app?
Google Pay is based out of the Google headquarters in California, US. However, the payments app of Google is available for the Indian users and those who resides in Singapore and the US. Google India Digital Services Private Limited, headquartered in New Delhi, makes G Pay accessible for the Indian users.
Who is the owner of Google Pay?
Google Pay is owned by Google Inc.
Can I transfer funds directly to bank accounts via Google Pay?
Yes, Google Pay allows its users to link their bank accounts and transfer funds directly to others’ bank accounts.
Technology brought us the Internet and smartphones. Thanks to these two, we have another medium that is not less of a miracle. Social Media is a part of our daily life. It is almost impossible to imagine, not having a social media account at this age.
Social media gives us an opportunity to connect with people. It doesn’t matter where they live; one could stay connected with each other through social media. Apart from staying connected with people around the world, one can share their thought, insights basically their life on social media. We also get to have different careerists opportunities as well.
Some of the well-known and most used social networks are Facebook, Instagram, WhatsApp, Twitter, and others. They are the mains that have people flocking over them. Apart from that, there are various other social media platforms that are taking the world by storm. Among all of them, one such platform is ShareChat. In this article, we will talk about this app and take a look at its business model and how it makes money. So let’s get right into the business.
“The great thing about social media was how it gave a voice to voiceless people.”
ShareChat is an Indian social networking platform that gives users an option to connect with people and also share videos, pictures, and status in their own language. The features like direct messaging and tagging are also included in this app. The app has over 160 million active users monthly. Ankush Sachdeva is the current CEO of ShareChat.
About ShareChat
ShareChat first started its journey in the year 2015 and was founded by Ankush Sachdeva, Pratap Singh, and Farid Ahsan, all of them graduated from IIT Kanpur. The social networking site is under Mohalla Tech Pvt Ltd. The headquarters is situated in Bengaluru, India. The company has over 400 employees working for it now.
In the year 2016, ShareChat enabled its users to create user-generated content that is, they got the option to share photos and videos of their own. In the year 2018, it launched some spectacular features for the users of this app, which made it quite a fan favourite.
Features of ShareChat
Some of the highlighted features of this app that makes it popular amongst social media users are down below:
The best part of this social media is that it allows people to handle their accounts in their own language. 15 different Indian languages are available in this app namely, Bengali, Marathi, Punjabi, Hindi, Urdu, Malayalam, Gujarati, Odia, Kannada, Assamese, Haryanvi, Telugu, Tamil, Rajasthani, and Bhojpuri.
Apart from sharing your content on the platform, you get to have a private messaging option, where you can send messages to other users of the app and stay connected with them by having one-to-one communication.
Another popular feature is tagging, where you can create a tag and can post whatever you may like under them.
You can also follow another user in this app and can see their regular updates here whatever they are sharing.
It also has a feature to share any content that exists on the social media platform on WhatsApp.
Target Audience of ShareChat
ShareChat target audience is not limited to any certain groups but it mostly targets people who want to use social networking platforms in their mother tongue or any regional language. Plus it is also a safe place for the people who are using the internet and indulging in social media for the very first time.
Business Model of ShareChat
There are two ways in how content marketing is done on the internet. The first form is one the content is created by the creators of the platform and is only owned by them and the other form is where the users of the platform generate their own contents. This social media platform falls under the second category. All the contents are user-generated here.
Those contents are shared with the other users. It includes pictures, videos, posts, GIFs, audio, and others. Apart from that you can connect with several people here and can make friends with whom you can share your daily updates and of course can interact with each other. The feature that makes it unique is that all of these can be done in any 15 regional languages that ShareChat provides to its users.
How Does ShareChat Make Money?
ShareChat mostly makes money through advertising. It mainly collects the data of the user’s analyses them and of course, stores them. These data are then given to the advertisers so that they can identify their target audience and advertise their products to them.
Apart from advertising, it also generates revenue through payment transactions and sponsored campaigns. They also tie up with local brands that sell products and services amongst the regional language-focused audiences.
In 2020 following the tension between India and China, when India banned Chinese apps. TikTok was also banned. ShareChat launched a short video platform named Moj as its parent company, which has the same features as TikTok on 29 June 2020. This app reportedly has 160 million active users monthly and has beaten its several competitors like MX TakaTak and Josh and is considered India’s top short video creation app.
Revenue Of ShareChat
The company faced a big loss in the year 2020, approximately ₹676 crores. The year 2021 bought quite good news for the Indian social media as it enters into the Unicorn club after raising a fund of $502 million and its valuation jumps to $2.1 billion. The funding was received from venture firm Lightspeed Ventures, Tiger Global, Twitter, and Snap Inc.
With so many different social media apps launching every day, there will be few that are going to be successful and will be able to entice people to use them. Some new and exclusive features have to be added to capture the attention of the users, ShareChat, the new member of the Unicorn club has been able to do that.
FAQ
Is ShareChat a Startup?
ShareChat is an Indian social media startup.
Who is the CEO of ShareChat?
Ankush Sachdeva is the CEO of ShareChat since 2017.
Is ShareChat Made In India?
ShareChat is a social media platform that is particularly made in India.
Shoppers Stop was a forerunner in India’s retail boom. They have developed from a sole 372sq.m retail in 1991 to 86 locations in 40 Indian cities now. Through constant advancement, the company is primed to have great potential.
Well with the assistance of renowned and key allies, it’ll always strive to develop with its users by offering trendy and modern items that are up to world standards while being economical.
To sustain long-term client happiness, they’ve assured that the brand and shopping experience throughout all of their brands is not only appealing but also provides complete delight. It’ll be reflected not just in their practices, but also in how they interact with their staff, partners, allies, and customers. So, Lets look at the business model of Shoppers Stop and how it makes money.
Shoppers Stop is rich in the diversity of major global and regional brands for fashion, scents, home décor, etc. that serve the wants of the family. K. Raheja Corp. owns it, and it has 86 outlets in India’s top 40 cities.
It seeks, sustains, and distributes new global apparel across the globe through its shop labels. It is traded on both the BSE and the NSE. Their drive on introducing international practices into retail and offering people a retail buying experience has propelled them to the top of its game. They are among India’s leading departmental stores.
History of Shoppers Stop
The K. Raheja Corp. consortium built the basis for Shoppers Stops on October 27, 1991. With its lifestyle business, it’s one of India’s largest hospitality and realty firms, has achieved yet another feat.
It has evolved from a storefront to an apparel outlet for the entire family since its beginning. Shoppers Stop is now a trusted brand, renowned for its best quality merchandise and for delivering a comprehensive buying experience.
It has established itself as the finest ideal for the Indian retail chain, owing to its vast experience and repute. Its future growth strategy seeks to assist the firm tackle the issues of the retail sector even better than now.
Business model of Shoppers Stop
It operates departmental storefronts selling a variety of home and buyer goods. They operate on a franchise-based model. Its value proposition is to consistently enhance people’s lives via style and a great buying experience. Family, children, the aged, and professionals are their key client segments. Its franchisees, such as Bobbi Brown, M.A.C., Mothercare, Hypercity, among others, are its key partners.
Its main tasks include promoting and driving sales ranging from designer fashion to décor. Staff and outlets on a-locations are vital assets for the organization. The client interaction occurs either online, on the user’s chosen medium, or in stores.
Salaries, site development expenditures, raw material ordering costs, and advertising costs make up the cost pyramid. It makes money through its outlets and those of its franchisees. Users can take advantage of the First Citizen Loyalty Program.
Top brands of Shoppers Stop
HomeStop.
HomeStop. by Shoppers Stop
It started to meet the needs for a premium interior décor and lifestyle store. It equips you with a holistic home experience by offering the finest furniture, furnishings, and homewares. The product offering is updated regularly to add more styles.
HyperCity
HyperCity by Shoppers Stop
It began its initial tour in Malad, Mumbai, on an area of 11,000 square meters, and received over a million visitors in its first 90 days. It’s a spacious, stylish, and dynamic layout that functions as a true megastore, with a vast selection of high-quality goods at low cost in a range of subjects such as grocery items, furnishings, sports toys, and so on. It also provides various value-added services in one place, such as financing, ATM, and telecom services, to make the experience more diverse, efficient, and holistic.
Crossword
Crossword by Shoppers Stop
It was created in 1992 and bought out by Shoppers Stop in the year 2000. It is the largest edutainment store and a renowned name in its sector, offering the Indian client an unparalleled combination of books, songs, & films all under one roof. Its current success is the fruit of a mutual enthusiasm for and loyalty to its clients, firm, and allies.
The Shoppers Stop group has also formed alliances and joint ventures with the Switzerland-based nuance group for airline shopping, the UK-based home retail group for catalog shopping under the brand Argos, and the Australia-based LAI group for Timezone entertainment zones.
Total Revenue of Shoppers Stop
Revenue Model of Shoppers Stop
Royalty fees
Continuous royalties are their primary business. They set a fixed flat fee or % of the gross revenue of such units as a facet of the contract. Their successful franchisee partnership has led to increasing royalties.
Advertising Fees
Local, county and global marketing initiatives help them. The franchisee donates to a fund set up by the franchisor to cover ad spend, lowering their total cost, however, both sides gain from drawing loyal users to the franchise unit. Store exhibits and sponsors generate income-driven on how long the goods or sponsors’ ads are marketed.
Employee Training
When an entrepreneur joins a franchise, they adopt the franchise’s specific business model. The staff of the new company unit requires adequate training to conform with the way these things must be handled, and this earns income for Shoppers Stop via training fees, from which they gain.
Strategies of Shoppers Stop
Digitization
They rebuilt their website, built an e-commerce portal, and teamed with prominent software firms like Google. They advertised their stuff online through them. They then went on to the current shopping site and formed a partnership with big Indian e-retailers. It optimized its backend arrangement to deliver a consistent and cohesive service throughout its multiple channels.
They also developed in-store technology such as the Magic Mirror, which lets shoppers virtually try new things. It’s one of their most notable creations.
Shoppers Stop Magic Mirror
Multi-channel
Customer care was the core of the apps that were developed. They have apps for managing inventory that tracks every step along the way from the producer to the customer.
Omnichannel
It combines several shopping channels, such as television, apps, sites, and phones. If you don’t have cash or a credit card on hand, you can buy the same item online using their website or app, that was made to better the digital client experience.
Pricing strategy
It uses premium pricing, which sells different high-quality goods at a high cost.
Advertisements and promotion
With creativity as a driving force, they’ve rolled out a new philosophy of starting fresh to provide retail a fresh perspective. They strive to start fresh in terms of results, items, clients and thrive as a result of the many offers made available to users. A terrific addition to the company’s name was an endorser or celebrity appeal to the business.
It is a big rival of Shoppers Stop. It was created in 1997 and is headquartered in Mumbai, Maharashtra. Pantaloons, like Shoppers Stop, play in the apparel, and accessory market. It accounts for 296 percent of Shoppers Stop’s sales.
Fbb
One of Shoppers Stop’s main rivals is Fbb Online. It is a firm based in Mumbai, Maharashtra. It was started in 2001. Fbb Online, like Shoppers Stop, is in the logistics, Wholesaler, and Retail Distributor industries. Compared to Shoppers Stop, it has 4,782 fewer employees.
Max Fashion
It is regarded as one of Shoppers Stop’s most formidable competitors. It is based in Bengaluru, Karnataka, and was formed in 2004. Max Fashion, like Shoppers Stop, participates in the logistics, Wholesaler, and Retail Distributor industry. It earns $350.2 million more than Shoppers Stop.
Future Plans of Shoppers Stop
Its goal is to become the leading player in India. The firm plans to deliver to India the greatest retail technologies, retail processes, and sales worldwide. As part of their growth strategy, they are currently adding 4 to 5 more outlets to their portfolio annually.
Shoppers Stop is the nation’s first department store, and it serves to set the standard for all department stores nationwide. With new models and alliances, the firm is ready to reshape the Indian retail environment. However, their dedication to delivering only the best to its users will ensure that success does not come at the price of quality.
Due to its drive to analyze and serve the needs of all of its partners, as well as generate ideal retail models for Indian clients, it has developed to what it is today. The firm is in a big race to develop long-term models that will not only support development but also add value to shareholders.
FAQ
Who is the owner of Shoppers Stop?
K Raheja Corp. laid the foundation of Shoppers Stop on October 27, 1991.
Is Shoppers Stop an Indian company?
Yes Shoppers Stop is an Indian department store chain owned by K Raheja Corp.
With 206 million daily active users worldwide as of the second quarter of 2021, Twitter, symbolised by the renowned bluebird, grew from the ashes of a failed company named Odeo to become the #1 platform for discovery and generally regarded as the Internet’s SMS.
It originated as a text messaging network that limited tweets to 140 characters (now changed to 280 characters). One of Twitter’s co-founders, Jack Dorsey, sent the first tweet on March 21, 2006, with the message “just setting up my twttr.” Twitter has evolved to be one of the most popular social networking platforms in the last decade, with over 200 million monthly active users.
Twitter is a social networking and news website where users exchange brief messages known as tweets. Biz Stone, Jack Dorsey, Evan Williams, and Noah Glass launched it in 2006 after another firm, Odeo, was stung by the introduction of Apple’s iTunes. Twitter’s headquarters are located in San Francisco, California.
You may send tweets to everyone who follows you on Twitter, hoping that someone will find your remarks valuable and entertaining. Unregistered users can only read tweets, but registered users may send, write like and receive tweets.
Microblogging is a term that might be used to describe Twitter and tweeting. Despite being 15 years old and having over 300 million monthly active users, the network is still in its infancy in terms of revenues. And, because the platform is free to use, it’s not immediately obvious how Twitter makes money.
Twitter makes money from its users’ attention in two ways: advertising and data licencing. Advertising generated 87 per cent of company income at over $1.05 billion in 2020, up 87 per cent. The remaining portion is data licencing, which increased by 9% year over year to over $137 million, mainly due to corporate clients using data analysis.
Although marketers pay to depend on the number of clicks or retweets, a pre-determined advertising budget is specified at the start of a campaign. Advertisers may also utilise streaming video advertisements on the site to target a specific demographic. Content producers may use features like live streaming and video on demand to expand their worldwide reach and user engagement.
Twitter makes money from data licencing in two ways:
It provides data products and licences allowing Twitter’s data partners to search, access, and analyse historical and real-time data derived from public tweets and their content and it also provides mobile advertising exchange services through the MoPub exchange.
What distinguishes Twitter from other social media platforms?
Keeping things clean and clear is the way to go, whether the goal is to build a personal brand, advertise a product/service, or do anything else that attracts public notice. What could be better than a platform that allows you to communicate with the rest of the world in just 280 characters?
Twitter promises to take all reasonable steps to prevent authorised parties from misusing data. It follows the Digital Advertising Alliance Self-Regulatory Principles for Online Behavioral Advertising. Twitter implemented labels in November 2020 to alert users about the possibility of error in the information provided in a tweet. This community users includes people from many areas of life. Twitter allows anybody to immediately communicate their thoughts and opinions with the rest of the world.
Only when the user has given their consent is personal data shared with digital marketers. Twitter’s privacy policy lays out all the options and urges users to read it to see how their data is used.
Advertisements provide for the majority of Twitter’s revenue, and users can view various advertising on the network.
Advertisers who want to reach a larger audience or increase interaction from their existing followers can purchase Promoted Tweets, much like average Tweets that users can engage with. Using its proprietary algorithms, Twitter algorithms aim to display sponsored tweets on user timelines that may spark their interest in the product or service. Promoted tweets allow companies to increase their visibility.
Promoted Accounts is a way of gaining followers by promoting one’s account to related individuals. Users can get recommendations for “Who to follow” on Twitter which is determined by user choices, demographics, geography, and overall platform activity. It may assist a new brand in promoting itself and an established brand in boosting a new campaign and making it viral. Advertisers may utilise this to build a community of Twitter users interested in their products or services.
Promoted Trends Hashtags give you a sense of what’s hot right now. Promoted Trends are a 24-hour high-impact takeover of Twitter’s Trends list, according to Twitter.
They appear in the first or second slots in the “Trends for you” section, in a user’s timeline and the “Explore” page, and are used to launch something new or relate to present conditions. Businesses can subscribe to Twitter for a fee.
Businesses may extract valuable insights from this data using various complex analytical tools at their disposal, allowing them to better respond to customer demands.
Data Licensing
Partners can use Twitter’s data licencing offering to access, search, and analyse real-time Twitter data made up of Public Tweets. Twitter distributes about 500 million tweets with data partners every day, but only with a few firms.
Exchange MoPub
Twitter’s MoPub Exchange is a mobile advertising exchange that connects advertisers to sell ad inventory with buyers eager to acquire it. Twitter is paid a fee for each transaction that takes place on the exchange.
Conclusion
Twitter’s business strategy has stayed constant throughout time, and the company is still aiming to become profitable but has failed to do so.
Despite all of its grandeur, excitement, and effect, its stock performance has been terrible, and many have dubbed its business model “broken.” Twitter has experienced several losses over the years, and the beatings will continue until the business model is adjusted or changed.
It’s a harsh reality that monetisation has been a challenge for Twitter, and rumours abound that corporations like Disney and Salesforce may be interested in acquiring the company.
Twitter was created by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams in 2006.
How does Twitter make money?
Twitter makes money basically from two main sources which are:
Advertisement and Promotions
Data Licensing
What are microblogging platforms?
Microblogging platforms are platforms for sharing text, image, or video based blog in which content is typically smaller in both actual and aggregated file size. Some of the top microblogging platforms are:
The internet has brought an immense change in the world, its invention is the game-changer in the technology industry, and is actually the root of every modern tech. In fact, the entire world is literally in our hands because of it.
Thanks to technological advancement, now we can store and manage data on the internet itself and can also provide IT services through it with the help of Cloud computing systems. In this computing system, we don’t need computer hardware to run the program and store the data.
The growth of a company hugely depends on its marketing, sales, and its customer service; a business has to do a lot of things for its survival. Online marketing is a new way, and a business must indulge itself in it. The software is used for all of these so that a company can grow to its full extent. One of the most popular platforms that offer all the above facilities is HubSpot. In this article, we will talk about HubSpot, its business model, how it makes money and what exactly it does. So let’s begin with it.
“Every kid coming out of school now thinks he can be the next Mark Zuckerberg, and with these new technologies like cloud computing, he actually has a shot.”
HubSpot was founded in the year 2006 by Brian Halligan and Dharmesh Shah, both of them are MIT graduates. HubSpot is mainly about developing cloud-based marketing software, for businesses to market themselves online.
HubSpot is a huge platform that deals with everything that is needed in the process of digital marketing of a business, like Inbound marketing, social media publishing, blogging, SEO, web content marketing, email marketing, and reporting and analytics. Its headquarters is in Cambridge, United States of America. Basically, it is a software platform that helps business sell their products and services more.
In 2021, HubSpot acquired The Hustle, which is a newsletter company that deals with small business owners and entrepreneurs. In the month of September of 2021, Yamini Rangan becomes the new CEO of HubSpot.
What Is Inbound Marketing?
Hubspot deals with CRM (customer relationship management) and offers inbound marketing. Inbound marketing is all about helping potential customers find the business by making it visible online. Inbound marketing includes SEO, social media marketing, content marketing, and email marketing.
What Are The Advantages Of Inbound Marketing?
Here, we will talk about the benefits that a business gets from inbound marketing. They are:
Gets the business its customers from different sources like YouTube, Blog, and social media instead of from a single source.
Trust can be ensured to the customers when the company shares the content about their products and services that shows their reality.
If inbound marketing is done properly, advertisement costs can be avoided and money can be saved.
Content is created in such a way that they can reach the audience whenever they search about something using specific terms.
HubSpot being a SaaS company indulges in the creation of software for inbound marketing and sales-related work. It mainly makes money through subscription plans and of course professional services that include providing tools to help in the process of digital marketing of a business.
When HubSpot first started its journey, it used to focus on small and medium-sized businesses, but now with time, any kind of business that wants to strengthen its online presence is, willingly investing in HubSpot. In 2007, only they proved their mettle when it acquired their competitor GroupSharp.
How does HubSpot Make Money?
The software made by HubSpot is sold on a subscription basis. The CRM (Customer Relationship Management) tool is free for the customers to use, plus this helps HubSpot attract customers to use their subscription basis plan.
The hub application of HubSpot is another form where the income comes from. It includes three hubs, which are marketing, sales, and service hub. Third-party apps, consultation, and events are additional ways how HubSpot makes money.
Marketing Hub
The marketing hub comes in three different plans and they are starter, professional, and enterprise. This also comes in a free package as well and helps in converting the users into customers that willing to pay.
Sales Hub
The Sales hub is used to boost the performance of the sales of the business. It has some great features that include live chatting with potential customers, sending quotes to the customers, and others.
Service Hub
The Service hubs include a different support system that the customers need, like giving out surveys and answering all the frequently asked questions to enlighten the customers more.
Third-party apps like Outlook, Mailchimp, and Slack provide these hubs offering to the customers. Consultation service is offered by HubSpot like SEO-related tips for the customer’s website, content strategy, and others.
Events are also conducted all over the world to advertise their tools and services and teach how to increase sales, all these come under a fee that the audience of the events had to pay.
As of 2021, HubSpot has reached over $1 billion in annual recurring revenue. The 15-year-old company has over 100,000 customers that are paying for its services. In the year 2021, HubSpot reportedly has over 4981 employees and with so many employees and a brilliant business strategy, the revenue of the company is not at all surprising.
HubSpot as a CRM platform with its different tools works in making the business reach the heights of success through the help of inbound marketing. We are in a position where we cannot ignore digital marketing for our business. All the things that are necessary for the digital marketing of a business, HubSpot gives out those services through cloud computing.
FAQ
What is HubSpot used for?
HubSpot is a CRM software designed to help customers in aligning the business sales and marketing teams.
Is HubSpot good for Small Businesses?
HubSpot is said to be the best for small and mid-sized businesses that are looking to attract customers online.
Who is the CEO of HubSpot?
Yamini Rangan is the current CEO of HubSpot in 2021.
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!
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.
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.
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.
Devashish Shrivastava
