digital transformation strategy

How can digital transformation impact your business?

As we dive into 2021, the on-going global pandemic still having its toll on us, organisations are being forced to boost IT investment and prioritise Digital Transformation initiatives. There are several reasons why a business may take on the digital transformation strategy but by a long chalk, the answer is clear from the fact that now digitization has become the only means of survival in this extremely competitive marketplace. Additionally, in the wake of the pandemic, an organization’s ability to quickly adapt to these uncalled business disruptions has become critical. To efficiently utilize the benefits of the digital transformation strategy during complete lockdowns, we need to understand the significance of integrating all possible business operations into the software otherwise the strategy does not entirely fulfill its purpose.

The world is now slowly realizing that consumer behavior has altered in many ways since the start of the pandemic. During a recent MIT Sloan Symposium series event, a professor at MIT described how optimized automated systems in zones like supply chain collapsed when faced with rapid variations in both demand and supply – an eye-opener for everyone at a personal level during these COVID times.

In this article, we will discuss what is digital transformation, how the epidemic is globally affecting it, the current market trends, the success, and the different industries leveraging through the digital switch-over.

What is digital transformation?

By definition, an effective digital transformation strategy is the integration of digital technology into different areas of business which involves the way they operate and deliver value to customers. Moreover, it has now become a norm for businesses to experiment with new technologies – drifting from traditional practices that companies were built on to relatively new practices that are still being defined.

Current World Dynamics Impacting Digital Innovation

According to McKinsey Global Survey, the company has accelerated the digitization of its internal operations by three to four years as the COVID-19 crisis has brought with itself years of change in the way businesses operate. Many companies across the globe have accepted how these changes will be long-lasting and are already making investments to digitally enable their products. It is, however, still early to predict which of these amendments will be long-lasting but Rodney Zemmel, global leader at McKinsey Digital, states that on the consumer side,

“digital has been accelerating in just about all categories.”

A rapid shift can be seen with consumers interacting through digital channels as this means less human intervention with technology playing its part to fulfill the consumer needs. It is obvious that in times like these, digitization is the only way to help your businesses thrive.

Digital transformation trends in 2021

During the pandemic, self-isolation has become a necessity with amendments being made in most aspects of life to account for the dangers of the virus. Amid this chaos, let’s delve into questions like what is digital transformation for businesses and the altering trends being put into practice in the year 2021:

Working remotely

Before the pandemic, only 30% of U.S. employees worked remotely. The transition to working remotely full-time hence became challenging for companies especially when the user demand exceeded the system bandwidth. The bright side, however, to working remotely is the dramatic improvement in digital transformation to facilitate the worker’s level of comfort.

Omnichannel commerce

The consumer mindset is altering as even those who were historically reluctant to the idea of shopping online are now utilizing this new trend to meet their needs. Online grocery shopping with apps like Instacart Business Model has gained tremendous popularity through digitally transforming their systems and proving contactless delivery methods for their customers.

Increased Consumption of Digital Content

According to Statista, 51% of internet users are watching more shows online using streaming services like Netflix. In just the first three months of 2020, Netflix had about 16 million new signups. Meanwhile, many industries are also pushing their movie launch dates early to captivate audiences.

Platformification

Different institutions and companies are adopting digital technology to stay afloat during the pandemic. The fitness industry has opted for virtual classes, schools and universities have shifted to online classes, conferences are being held virtually, etc.

Some industries intend on going back to the traditional methods after the pandemic abates, while others may opt for the hybrid approach considering the vast recurring revenues it is generating.

Telehealth solutions

Much of America’s health system has gone digital with the help of telemedicine and remote patient monitoring. Medical advice and diagnoses are being made accessible to patients. Digital contact tracing is also an effective method being used across the world to effectively slow the spread of the COVID-19 pandemic.

Successful Digital Transformation – ROI

The consumer interactions cannot be quantified using traditional means hence identifying the return on investment (ROI) of digital transformation can be very challenging for businesses. Using one metric does not fully facilitate the procedure as you need to evaluate the business as a whole and recognize the enhancements in customer experience, business processes, and workflow.

Below are some of the metrics that can help evaluate the transformation:

  • Improved sales
  • Increase in new customers, customer preservation, and customer satisfaction
  • Process and quality improvement
  • Improved effectiveness of engineering productivity and design

If you have a well-established product and business then calculating the ROI is easy but when a new technology is introduced in an organization, the potential for digital growth is high.

It is crucial to get a headstart on your competitors especially when you are releasing an innovative product or service as timing is of utmost importance here, which can lead to long-term and elastic ROI. Some pointers that must be kept in mind are:

Exploring Customer Needs

Through social media interactions and as a digitally-driven business, you need to emphasize creating compelling digital content that helps you strive towards exceeding customer’s expectations.

Digital Innovation Investment

To help foster a digital culture at the workplace, business processes should make customer experiences more engaging and improve the workflow.

Data-Informed Decisions

For an effective digital transformation strategy, customer data is one of the biggest sources of reliable information as its impact is felt directly by the customer base. Their history on purchasing behavior, customer reviews, and feedback can help form the basis for data-informed decisions.

Performance Tracking

Through tracking all of your digital transformation efforts, increased revenue, sales, and customer satisfaction can be translated. The swiftness of adapting to the new technology for your business affects your efficiency at digital transformation.

A peek into How Different Industries are being Digitally Transformed

Digitization can be seen spreading to various industries where production sectors are no longer using the traditional ways but gradually joining the revolutionized industries, is an undeniable fact that the digital economy is booming. Let’s delve into some industries that are being digitally transformed to meet the needs of the target end-user:

Healthcare

Technology is altering the dynamics of many industries but it has yet to make significant inroads into the healthcare sector. Digital transformation in healthcare requires streamlined processes to meet the patient’s requirements. Investing in technology when it comes to healthcare can be very overwhelming as deciding which tech to invest in can be very challenging.

The healthcare market in the U.S. is expected to reach US$ 504 billion by the year 2025 at a CAGR of 29.6%.

Fintech

Innovative technology that enables financial services to help establish new business model applications and processes can be termed Fintech. New consumer-centric ways are being introduced in this industry so people can conveniently manage their finances, make payments, invest money and create personalized budgets using apps.

eCommerce

Based on research, the B2B market is expected to grow at a CAGR of 11.1% between the years 2018 to 2025 and will reach a value of US$ 24 billion by 2025. The rise of the e-commerce market globally is due to the following factors:

  • New tech innovations in the e-commerce industry.
  • Increased usage of mobile and internet.
  • The availability of advanced e-commerce solutions for an enhanced customer experience management.

Digital marketing (marketing automation)

Digital transformation in marketing means refining your digital channels to gain greater insights that appraise your approach and boost the customer journey. Below is a list of what digital transformation might look like for the marketing department:

  • Upgrading your digital channels.
  • A well-optimized customer data platform (CDP) that connects different platforms providing you with the view of your entire customer base.
  • With the help of a well-equipped marketing funnel, you can easily identify weak spots and possible improvements.

Begin your digital transformation journey with Mob Inspire

The Corona pandemic is, undoubtedly, the catalyst that compelled many industries to devise digital transformation to support the new remote workforce which also gives a peek into what future enterprises will look like.

If you wish to transform your company by adopting these new digital initiatives then, get in touch with us to discover more about the new upcoming digital age.

design thinking in software development

Why is Software Design Thinking important for Business Growth?

According to Harvard Business Review, adopting new ways to organize your work can lead to remarkable advancements in your company’s performance. In the 1980s, people combined some set of tools like quality circles, kanban cards, etc with the insight that people could do much higher standard work than they were asked to do. The blend of these two applied to the work process in manufacturing was given the name ‘Total Quality Management.’ Today, another social technology has emerged – Design Thinking. It is believed that design thinking in software development has the potential to do for innovation exactly what TQM did for manufacturing.

Businesses have slowly realized that design can be used as a distinguishing feature to respond to alternating trends and behavior of people. Renowned companies like Apple, Microsoft, Disney, and IBM have demonstrated how design thinking impacts the bottom line and contributes to business growth.

In this article, we will explore what design thinking is, the five stages it involves, how and why it contributes to business growth, and the top companies across the globe utilizing this tool to add value to their businesses.

What is Design Thinking in software development?

An approach used to solve practical and creative problems which is wholly based on methods that designers use is called design thinking. This idea has evolved from a range of different fields which include architecture, engineering, and business.

Design thinking has a user-centric core and emphasizes understanding people’s needs and finding effective solutions to meet them. This in return leads to better products, services, and internal processes. The design strategy does wonders for complex problems that are ill-defined or unknown.

The Five Stages of Design Thinking

Developing an understanding of the five stages of design thinking in software development will help empower anyone trying to solve complicated problems. Now, let’s explore how design thinking works by using the design thinking process proposed by Hasso-Plattner Institute of Design at Stanford. The stages are as follows:

Empathize

The very first stage is to earn an empathic understanding of the matter you’re trying to resolve. To better comprehend the issue at hand, you need to engage yourself with people to know about their experiences and incentives. For a human-centric design approach like design thinking, empathy plays a very crucial role since this helps them in gaining insights by setting aside their assumptions about the world.

A considerable amount of information is gathered during the first phase which is used in the next one to establish the best possible understanding of the target end-user, their requirements, and the problems that might occur during the development of that particular product.

Define

In this stage, you define the core problems you and your team have identified through analyzing the information gathered during the Empathise stage. The defined problems are labeled as a problem-statement. The Define stage helps your team to develop features that will allow the users to resolve issues themselves with minimum difficulty. This stage will help you progress into the third one where you will look for ideas to resolve these issues.

Ideate

During the third stage, the designers are ready to start originating ideas. In the empathize stage you have identified your user’s needs and have further analyzed them in the Define stage, and finally ended up with a problem statement. Since you have established a solid background, you and your team can start to think innovatively using techniques like Brainstorming and Brainwrite to identify new solutions to the problem. By the end of this phase, you should be able to pick out some Ideation techniques to help you investigate and test your ideas thus intending to resolve these challenges.

Prototype

To help investigate the problem solutions derived in the third stage, the design team now introduces scaled-down versions of the product. Prototypes are shared and tested between the team itself, different departments, and even with a group of people outside the team to find the best possible solution for each problem identified in the first three stages.

The prototypes are implemented one at a time to see if they are to be either accepted, improved, re-examined, or rejected. Ultimately by the end of this stage, the design team will have an idea about the limitations inherent to the product and have a clearer view of how the real users would behave.

Test

Making use of the best solutions presented in the prototyping phase, designers now meticulously test the finished product. This is the final stage of the 5 stage-model but if viewed as an iterative process, it can be used to empathize and redefine the problems identified in the previous stages. Even during this final stage alterations can be made in the previous stages to rule out problem solutions.

The Benefits of Design Thinking in Software Development

Integrating Design thinking into your process can help add a tremendous amount of value to your business. You, however, need to ensure that the business strategy you employ produces a product that is not only desirable for customers but also achievable in terms of company budget and available resources.

Now, let’s explore some of the design thinking benefits for businesses to help attain maximum profit from your product.

Substantially reduces time-to-market

Through emphasizing troubleshooting and finding economical solutions, this approach can significantly reduce the duration spent on design and development – primarily in amalgamation with lean and agile.

Cost reduction and a huge ROI

By marketing your product at a faster pace, you can save up the business money to a great extent. Also, developing software using design thinking has been proven to yield a significant return on investment. Teams utilizing IBM’s Design Thinking techniques have computed a 300% ROI.

More loyal customer-base

The design thinking process revolves around a user-centric approach hence helps in boosting user engagement and customer retention for a longer period.

Promotes innovation

The idea behind this approach is all about challenging assumptions that encourage the stakeholders to think out of the ordinary. Hence, there’s room for lots of innovation that extends well beyond the design team.

Can be implemented across the company

The biggest advantage of using design thinking for business strategy is that it is not limited to the design team only. It encourages cross-team collaborations and can be applied to any team in any industry.

Design Thinking: A game-changer for many businesses

A process that integrates critical thinking and cross-team collaboration to deliver innovative solutions for a design thinking software solutions industry is now leveraging many companies to grow their businesses.

Some of the top companies using design thinking are:

Airbnb

The company at one point earned just US$ 200 in a week. They soon realized that the rental options on their website had poor-quality pictures. So, their team members flew to New York and captured their high-quality pictures to be posted on their website. By adopting the design thinking technique they achieved a 100% increase in revenue.

Burberry

A globally known fashion company, Burberry, was growing at a very slower pace in 2006 with a mere 2% per year. To alter the dynamics of their company the CEO, Angela Arhendts, realized that through digital demographics they can help attract their target end-users. Design thinking keeping the final consumers in mind along with empathy can unleash new potential for the company. By the end of 2012, revenues had grown to US$ 3 million with Burberry winning the title of being one of the most innovative brands in the world.

Ericsson’s Innova

A Swedish telecom company built its innovation center called Innova which emphasizes rapid prototyping to create an MVP product. Innova formulates cross-functional teams that help connect the teams with the company partners and customers. Since the creation of Innova, 4000 ideas have been submitted, around 450 acquiring first-round funding, and 5 ideas successfully becoming the company’s products.

Conclusion

Tools like design thinking have always existed to accelerate the business processes of this efficiency-based changing world. To help accomplish maximum benefits from design thinking, it is evident that we understand and master this technique before applying it practically to our organization.

If you are looking for a team of experts to help you build design thinking processes for your software company, then get in touch and our team will contact you.

User Experience Design Process

5 Core Stages of User Experience Design Process

It is the end users who are going to use an app. App design, regardless of how extravagant it may be, is useless if the concerned people are unable to use it effectively. Thus, apart from UI design, designers must ensure to follow user experience design process. At Mob Inspire, designers follow a comprehensive design UX design methodology which corresponds to end users’ needs.

Following are the core components of UX design Process

Designing User Persona

Knowing the potential users well is crucial prior to designing. The behavior of users on app varies depending on their technical understanding of the subject matter. Besides, the knowledge about demographics based on cultural diversity and age groups also plays a significant part in enhancing user experience.

For instance, if the app is dedicated to optimize technology enterprise operations, it need not be having an extremely simple interface. In such a case, user persona has technical knowledge. However, an individual lacking technical background is unlikely to be well-versed with operating systems and functionality of smartphones. Such a user may not be comfortable learning while using less interactive app.

Navigation Blueprint

A sitemap or a blueprint provides the sketch of app navigation. In essence, it is an on-paper visualization indicating the page that opens when a user taps on a button, an image, or a dropdown. Designers at Mob Inspire design blueprint using flowcharts defining the hierarchy of app with each subpage.

A comprehensive UX design methodology requires complete sitemap which depicts hierarchy, breakdown of functions, and proposed appearance of each page. It includes the strategy to render text and images on screens of different sizes without losing the element of interactivity. The reason for sketching the tentative design on paper is to increase clarity before turning on to the prototyping phases.

Wireframes

Once the app has a definite sitemap, the designing of wireframes for each page follows. Wireframes provide an end-to-end picture of page starting from top right till the end. These are high resolution photos taken from design tool to aid in UX design process. The aim of keeping higher resolution is to ensure that pixels do not distort while a designer zooms in to analyze each section.

Wireframe app design is vital to provide an appearance of app to client that would be closest to the one after project completion. It allows changes to the app design as required by client at early stages.

Working Prototypes

Prototyping enables clients to test the design in dynamic environment. In essence, wireframes are static and do not reveal the behavior attached to each button, tab, or link. Any wireframe is essentially a picture showing the design, color scheme, and readability of app. Prototype development is crucial phase in user experience design process because it unveils the degree of convenience for users while using the app.

The expenses of making changes to the app rise as the design lifecycle progresses. Prototypes reduce the expenses significantly because it enables clients to indicate all changes in the beginning.

End-user Testing

Many novice designers fall for adding fancy animations to the app design. These details decrease interactivity because user has to deal with a vast amount of animation. Conversely, t is also unwise not to add cosmetic details at all. However, the extent of animations depends on understandability and usability of end users.

You may recruit a selection of people who are unaware about technical specifics of app and have them test the app. This third person perspective is essential because you or one of your partners may not see the shortcomings in the app which an end user can catch. Furthermore, documentation of changes and feedback from testers are significant as well.

Also Read: How to Choose an App Development Company

Mob Inspire is designing and developing native apps for Android and iOS for over a decade now. Contact us today and share the business model. We will develop the requisite technology for you.

Startup-Friendly E-Commerce Revenue Models

E-Commerce Revenue Models for Covid-19 Era and Beyond

There is no uncertainty about the significance of e-commerce revenue models considering the remarkable increase in demand. The Covid-19 onslaught has further stirred the already rising traction for e-commerce and m-commerce. 

However, most of the startups fail to go beyond the first year of business. As per 2016 statistics, only 47% of the online retail businesses managed to survive more than four years.

The primary reason for alarming failure rate is the absence of an appropriate business model. Most of the unsuccessful startup owners are unsure about what they are going to offer. Besides, they fail to identify the target audience. Consequently, the model is too vague for potential customers.

Second most critical challenge is the marketing of the nascent business. An inefficient approach toward marketing may lead to failure regardless of the business model effectiveness. This article shares the most in-demand business revenue models of e-commerce. The text also briefly unveils some of the effective marketing and growth strategies specific to e-commerce.

Types of Revenue Models in e-Commerce

Although there is a wide range of models falling in e-commerce domains, yet three of them are most productive ones.

1. Marketplace Platform

Marketplace is a company which provides a platform for third-party individuals to sell and purchase products and services. This platform, commonly referred to as C2C e-commerce, is the best bet for cash strapped entrepreneurs. They do not need to have initial capital to replenish stores. Instead, independent buyers and sellers connect to each other while marketplace offers a gateway.

However, this model is not limited to financially challenged individuals. Some giant companies also provide C2C services. For instance, telecom prodigy Ericsson started a marketplace last year for technical gadgets. While people usually use it for purchasing used products, the company also encourages manufacturers to sell new devices.

OLX is one of the pioneers and most successful marketplace companies. Currently, it is operating in 45 countries. Unlike Ericsson, OLX does not confine users to sell objects from specific domains. YouTube provides another instance of the marketplace with some features of subscription model. It enables users to subscribe to other users for accessing videos. However, it is notable that subscribers do NOT pay for a subscription.

The revenue streams in C2C e-commerce depends on the advertisement. The more the traffic on the site, the greater will be the chances of attracting advertisement. Besides, some companies also keep a commission from every deal. For example, a company offering a platform for selling used cars may grab a small share of money from every deal with the consent of primary stakeholders.

2. Online Retail Store

This B2C e-commerce platform requires the owners to sell manufactured products at retail. Online retail is around since the initial years of the web. In fact, first ever recorded e-commerce deal between university students was also online retail. It works for the aspirants who are able to invest a considerable initial capital.

Moreover, most number of e-commerce business and revenue models belong to this domain. It is not that other types are less effective. The primary reason for this model to be more widespread is the transformation of traditional stores into on-demand parallels.

The clarity in business model is most crucial in online retail. Some companies fail to live longer because they try to sell a wide range of products. The diversity of products is a decent choice only when the company is up and running. Initially, the owners have to begin in a specific domain. They need to make an online presence by offering some trademark products from a limited set of industries. With time, they may also add products from other industries.

Amazon is an example of diversity in retail products. The retail giant offers almost every household and enterprise product available on earth. Consequently, Amazon e-commerce revenue is over $250 billion. The current coronavirus pandemic has boosted the revenue by 29% in Q1 of 2020. This e-commerce giant had to hire 175,000 people in March and April 2020 to cater the increased demand. However, it was not the case in the past since the company started with a selection of products.

3. Subscription Revenue Model

This model emerged after the introduction and implementation of cloud computing. Cloud-based platforms allow users to run services remotely instead of downloading them on one’s personal computer or mobile. This mainly B2B e-commerce model requires online hosted services. Although most of them are trademark cloud-based services, yet some of them are licensed too.

For instance, a company may offer Microsoft’s Office 365 to users. These users can access the services through service provider’s website and do not require downloading Office 365 package. The reason of success is the substantial reduction in costs. Many enterprises require a software system temporarily. Purchasing the license and installing it on every user’s machine is an inefficient approach. Many of these companies offer B2C services too.

The rise of on-demand economy also owes to cloud-based subscription platform. Uber is one of the most pertinent examples when considering B2C cloud platforms. Amazon is one of those companies which have successfully implemented each of these three e-commerce revenue streams.

E-Commerce Marketing and Growth

The process of attracting potential customers to website (or mobile app in case of m-commerce) requires a combination of marketing approaches that fit  It also relates to the strategies which push customers to use the platform for selling or purchasing. The owners can spread the word by inbound marketing. Under such publicity campaigns, the owners need to make an effective social media presence. Moreover, they should ensure to create search engine optimized content.

Once the website traffic reaches the order of tens of thousands, the company can launch business intelligence campaign. This campaign models the users and determines the sources which are driving the traffic onto the site. If the company offers B2B business, connection building is essential. Pay-per-click (PPC) campaigns are highly effective in B2C business model.

The fact that biggest e-commerce companies by revenue and by volume use robust marketing strategies is precedence for startups. Selecting an appropriate model followed by a comprehensive marketing campaign increases the probability of success.

You can be the next big prodigy in the e-commerce universe. Contact us today and share the business model that you want us to build for you. Leave the rest upon us because Mob Inspire loves to assist startups.

Conquering Market with Effective Lead Generation Strategies

It is ironic to witness any company succumbing to financial debts after embarking on an ambitious journey. The inefficiency of teams due to lack of expertise is the single most significant reason behind failures. Some manage to launch a decent product or service but fall short to attract a considerable consumer group owing to ineffective lead generation strategies.

You might be wondering then what caused a sharp decline in business bankruptcy from 13% to 3% in a period of past couple of decades.

MobInspire is one of those companies which accepted the daunting challenge to fill voids in business architecture of struggling enterprises. This platform for innovation brings the most influential, legitimate and compelling technologies to optimize business processes.

During research on reasons of failure, our team identified gaps in marketing and sales approaches. Marketing strategy followed the pragmatic, reactive and emotional behaviors of consumers. Some consumers have one of these behaviors while others carry more than one. Although these approaches are still valid, yet they require amendments to align with contemporary needs.

A comprehensive Inbound Lead Generation Strategy

The marketers are convinced that the content is “king” in lead generation. They identify multiple channels for posting the content and keep a sizable team to consistently keep these channels afloat with a plethora of articles.

However, stuffing keywords alone along with constant posting do not ensure higher conversion rates. Content for inbound marketing presents the first impression of a company. Sharing mundane details on a company’s blog will prompt the reader to quit within seconds. They develop a perception that the company may not offer the requisite expertise.

The quality of articles carries highest significance, may it be on-page blog posts or off-page articles. In a nutshell, the consistency in posting the content on various mediums ensures traffic generation while the content quality increases the conversion rate.

Businesses should also identify the appropriate mediums for off-page. Posting on an irrelevant blog will barely help regardless of the value of content. The article should regularly feature the links that lead a reader to a company’s website. However, one should avoid putting keywords where they do not seem to fit in.

Unique Outbound Strategy

With scores of enterprises competing to target mutual markets, the potential customers often find email boxes overflowing with irrelevant emails. The marketers should understand that customers will not even open the email if it fails to interest them. The customer will not contact irrespective of the number of achievements mentioned. They look for their business interest.

To push the receiver to open a mail, marketers should make sure that they personalize the text as per customer’s business needs. It is impractical for b2b lead generation strategies to compose an email for each potential customer separately. Therefore, the marketing team should identify the appropriate set of people in collaboration with the BI team. After identification, they need to compose an email that tailors the enterprise needs of receivers.

Getting emails content which one does not intend annoys the customers. Eventually, they end up unsubscribing the emails. If client demonstrates interest, the email campaign manager should provide concise information. Forbes lists email marketing as the most effective strategy to promote business. One should also try to have a chat or live call. The marketing and sales teams should supplement each other through regular collaboration. Besides, in-person appointments with customers also assist in nurturing leads.

Landing Pages

It is impressive that your business offers a range of products and services. However, most of the customers aim to acquire specific expertise. Making them searching your site is unwise. Research reveals that a visitor comprehends what a business may offer in the initial 20 seconds of a visit.

Landing pages enable visitors to reach the specific areas where they may find what they exactly intend. For instance, if a customer aims to outsource a mobile app module development task, one should not need to wander various tabs of site. Instead, there should be a link that redirects to a landing page which particularly offers resources for mobile app development.

Thus, both email and landing pages should offer something of reader’s interest before it requests to make contact. It is a suitable approach, especially, for b2c lead generation strategies.

Business Intelligence

Recklessly sending emails and posting articles will be useless if a company does not know about their customers. Marketers need to determine the origin of site visits. This identification allows organizations to redefine the budget. They can cut costs allocated for unyielding sources and redirect the cash flow toward effective campaigns.

Many efficient companies including Hubspot and Google Analytics offer services to find the root of visitors. These services allow businesses to devise implementable lead generation ideas. For instance, if the number of on-page blog visits is lesser than the forecasts, the company can redefine content strategy. Marketing without BI is like an arrow launched without aiming. The arrow is extremely less likely to hit the target.

Connection Building

There will always be unethical campaigns which will intend to vilify your company’s reputation. If such campaigns gain ground, the effective inbound, outbound and landing page campaigns will be useless. Every company should maintain decent reputation in the industry to neutralize such campaigns.

Participating in social activities and growing partnerships are essential to build reputation and to promote successful lead generation strategies. The collaboration with leaders of various industries expands global outreach. The leadership should also arrange to speak at public events. This way, they would be able to make the potential leads aware of the problems and their solutions.

One should ensure that public speeches should conform to rest of the marketing initiatives. Companies should avoid promoting what they are unable to achieve efficiently. It is always advisable to minimize the vulnerabilities and eliminate shortcomings before promotions.

Champ at the Bit

Economy and inefficiency cannot coexist. Effective lead generation strategy should be at the forefront of every company’s business model. Starting and streamlining the appropriate marketing campaigns enable them to cut the ineffective costs and maximize profits. Besides, the efforts of marketing and sales departments should complement each other to reach mutual goals.

Why wait for tomorrow? If there is a space for improvement, you should fill it today. Contact us so that we may work together to find the loopholes in your business.

Classification of User Modeling and its Effective Application

Research in the field of data mining is yielding incredible results. Companies are able to make effective use of massive data generating every day. One of the most noteworthy utilization is the practice of user modeling. After making unprecedented success in improving search engines, product research, and marketing campaigns, user modeling is making gains in introducing expert systems.

The primary goal of user modeling is the assessment of consumer behavior to comprehend specific needs. Data scientists use various techniques of artificial intelligence depending on their objectives.

Read user modeling algorithms for specific details on relevant data mining algorithms.

Following is the most accepted classification of types of user modeling.

Invariable User Modeling

This is the simplest kind of user model which does not change over time. User requirements vary with changing trends. Most of the consumers tend to adapt to the changes in market. However, there are some features that remained unchanged. Data scientists use Invariable or “Static” model to represent such features.

Since analysts do not intend any modification in future, invariable modeling does not require the application of learning algorithms.

Flexible User Modeling

In direct contrast to the invariable modeling, flexible or dynamic user modeling undergoes changes with time. There are cases where static modeling becomes insufficient owing to the diversity of users’ needs. Usually, Unsupervised Learning algorithms are used for the purpose because scientists do not want to confine the results in prefixed boundaries.

It is notable that the updated information carries a significant amount of preexisting data. The modification adds more information by making relevant grouping between the interdependent datasets.

Demographic User Modeling

This is one of the approaches of user modeling which requires classification of users in terms of their demographic statuses. Also labeled as “stereotype modeling”, this classification considers the age groups, ethnic groups, socioeconomic classes, literacy rates apart from other parameters. Individual attributes do not affect stereotypical models because it relies on large statistical sets.

The resultant model includes attributes from both flexible and invariable modeling. Demographic classification generalizes the static model as the latter is highly individual specific. It is far more reusable because invariable model represents the needs of particular users rather than a diverse set of population.

It also features attributes of a dynamic model for its ability to integrate updated trends among users. Unlike invariable model, Demographic model modifies as per the consumer needs.

Adaptive User Modeling

Contrary to Stereotype modeling, adaptive approach customizes the model as per consumers’ particular choices. It tailors the attributes to individual users. Consequently, modeling such users require a considerably greater amount of information. Nevertheless, scientists are able to predict more precisely about an individual user’s behavior.

After a series of events related to data breaches, users are voicing concerns over adaptive modeling. The violation resulted in modeling of social media users to determine their political inclination. These results enabled Cambridge Analytica – the breaching party – to manipulate the voters in the US presidential election. Thus, the development of a comprehensive regulatory framework is underway to prevent such an event in future.

Each of these modeling techniques is applied in a number of ways in various industries. At times, scientists use a combination of these techniques. Mostly, they apply each of these algorithms independently as per the circumstances.

Four most prominent applications are leaving a significant impact on industrial expansion.

Recommender Systems

The search engine service providers are the primary stakeholders of Flexible User Modeling. Social media user modeling makes recommendation to the users owing to these systems.

For instance, Facebook recommends tagging the person in a picture by prediction. Since the dynamic model trains itself over time, the suggestions keep on improving with time. Similarly, Google ranks the pages higher which are more aligned to the user’s previous searches.

Moreover, the rise of on-demand industry requires highly adaptive user modeling to suggest the most appropriate options. On-demand taxi service or grocery apps present relevant examples. Considering the previous buying or riding trends, these apps share the closest suggestions.

Expert Systems

This application of highly adaptive user models enables the replacement of humans with software for various tasks. It asks structured questions to users and tailors the results to a specific query. Thus, an expert system solves the users’ problems by replacing a human counterpart.

These systems are the reason behind smartphone voice assistants including Siri and Cortana. Each of these assistants requires natural language processing (NLP) to understand the pronunciation of words.

The application in healthcare is revolutionizing the sector. Software systems trained by Supervised Learning are able to diagnose disease and suggest the appropriate prescription. Voice assistant is an additional feature. In usual circumstances, an expert system answers the typed queries.

Digital Marketing Campaigns

Search engines, corporate websites and social media networks have a wide range of users. However, not every user intends to purchase a product or seek services. The marketing managers aim to target the appropriate audience by modeling the users.

Facebook alone has over 2.2 billion monthly active users. A company aiming to launch a product in some specific region of the world does not have to promote the products to entire Facebook user-base. The marketers promote the product by assessing the publicly available information in the users’ profile. This practice also enables them in modeling user journey.

Product Development and Service Management

Product research is the prerequisite to development or manufacturing. It is highly unfortunate scenario when an efficient product fails to acquire a considerable user-base. Primarily, such failures occur due to lack of research. The success of products mainly depends on demand. Similarly, services in a region also rely on demand among consumers.

End user modeling allows business development managers to assess consumer needs and develop a corresponding product or service. Owing to this practice, the percentage of annual failed startups is significantly reducing.

Despite reaching the end of opening decades two of current millennia, some businesses continue the practices of previous century. Labeling competition as the reason in case of subsequent failure is a foolish approach. Companies need to ensure that they sufficiently understand their users by undertaking robust user modeling.

A comprehensive user model for your company’s potential customers is only one step away. Contact us today to allow the expert team at Mob Inspire to assist you.

Unveil the Pain Points before Business Sinks

It is a common phenomenon where a business flops after making some initial gains. Many initiatives end-up in failure before making an impression in industry. Others take more time than it would if the execution was sufficiently fitting. An idea can undeniably change life, but only when it is coupled with immaculate execution. Aspirants fail to forecast problems and try to solely face the challenges.

The review of some cases depicting small business struggling to survive reveals that the failure causes are repetitive. Simply put, ensuring the prevention of these problems can enable over 95% of businesses to sustain.

Most repetitive mistakes as shared next are also the most adverse ones.

Lack of identification of Challenges

The primary cause of failure is the deficit of exposure to industry. Inexperienced individuals underestimate the challenges since they usually consider the ideal scenarios and overlook worst cases. Once they put the boots on the ground, the circumstances become much more hostile. Exposure shortfall reflects in a number of ways.

  1. Some fledgling entrepreneurs misinterpret or entirely sideline the local and global corporate laws. This error results in issues like data breach and poor employee management.
  2. They invest largely on outlook of the business and fail to understand the significance of software efficiency. This problem indicates the inability to identify consumer needs.
  3. New businesses often struggle to develop a robust framework for customer relationship management unless an experienced manager supervises it.

Underestimating the Competition

A bumpy roller coaster is an appropriate metaphor to represent investment in already fiercely contested industry. Nevertheless, like most coaster rides, the challenges do not pose any serious threat as long as the entrepreneurs ensure adequate precautionary measures. However, the ride may end up in a catastrophic situation otherwise.

One of the small business struggles includes the lack of capital for investment. Appropriate spending of money does wonders as fairly new products and services manage to attract market share. However, relentless spending disregarding the consequences yields unintended results.

Karhoo – London-based cab startup – demonstrated promising business potential. The executives poured in a tremendous amount of money to subsidize the promotions to attract customers. The idea was correct, but the profligate executives fantasized the arrival of funding from investors. Unfortunately, the funding never arrived due to the trust deficit of investors. Karhoo had to cease the operation in a day. Later, Renault acquired the company.

Inexperienced businesspersons must know that the established companies will have deep roots in the customers. It should identify the weaknesses of existing enterprises and come up with innovative solutions.

Vague Business Model

A business gets off to a brilliant start but fails to sustain the market share in the long run. This problem is often the case in software application development industry. The principal cause is the absence of visionary leadership.

An entrepreneur may have a business instinct as well as a broad approach to view impending challenges. However, industrial experience is essential to preempt measures intended to avert looming dangers. Growing businesses require greater expertise. Otherwise, the progress will halt at some point and will lead up to depletion over time.

Targeting the wrong customers or irrelevant market also reflects an unclear strategy resulting in common pain points. Expecting to flourish in a market where the consumer needs drastically vary is unwise. Since the customers are primary drivers of companies, requirement analysis should prioritize to address their demands.

A large proportion of businesses fail to sustain owing to the lack of flexibility in the business model. The companies fail to keep a window of transformation to incorporate new technologies. Consequently, they fall out of favor of customers when a competitor introduces better services using technology.

Inappropriate Funding Acquisition Methods

Finding a unique idea ensures a considerable probability of success. Gathering the funding for its development and sustaining it is one of the pain points of small businesses. Most software apps business models do not require sizable money for development. However, they do need it for appropriate marketing.

Business aspirants struggle to win the trust of investors. Many investors refuse to put money despite initially showing consent – as in the case of Karhoo. Others are uncertain about the outcome and wait for the time when business starts to demonstrate considerable profits. Sponsors tend to trust more on the developers with previous successful experience.

Many individuals try to acquire funding through public campaigns. This strategy is evenly challenging as sponsorship from investors. Crowdfunding is almost impossible unless a business offers some noble cause. The sustainability of environment and helping the city administrations are some of the areas which may attract public funds.

However, research intended to find the success rates of crowdfunds for small businesses indicates that businesspersons find it intensely challenging to justify the funding. This daunting task follows from the fact that funding individuals will question the spending regardless of the amount they contribute.

Inefficient Human Resource Management

One of the major problems with startups during their initial couple of years is human resource management. Employees always carry a fear of job insecurity as a nascent business may shut down anytime. As soon as they develop some experience, the employees switch to another more stable company.

The role of resource managers is crucial in building confidence in the employees. They need to eliminate the doubts by demonstrating how the company would flourish in their presence. Moreover, they should also remind the employees about long-term rewards for loyalty with company.

Startups require experienced individuals to streamline the business. However, successful personnel in industry refrain from joining startups. This problem creates a major deadlock for the HR team and highlights chief employee pain points examples.

Stay Curious

Identifying the major factors of failure serves as the gateway to rectify shortcomings. While identification is essential, it is pertinent to mention the appropriate alternatives. Small companies exhibit remarkable improvements if they replace some elements in their business model with more fitting ones.

The article mentioning success factors and alternative policies will be published soon. To get the article as soon as it is released, subscribe to the newsletter right now. Furthermore, if you intend to streamline your business with technology, contact us today.

Beginner’s Guide to User Journey Map

Understanding the customer’s behavior towards a product or a service is crucial for any business. Companies are able to make appropriate decisions by assessing the causes of user’s attraction and dissatisfaction. They can determine the reason behind the acquisition of one service and abandonment of another by careful development of user journey map.

The assumption-based traditional business models do little to assess the causes of customer’s association with the company. On-field surveys are the only choice for leaders of such models. Journey maps allow every department, apart from marketing, to play a role in customer relationship management.

A neatly-crafted customer journey map design enables a company to assess the customer demands and identify glitches in their system. The companies with an efficient map creation strategy can optimize their businesses to a significant degree.

Before going through the steps of shaping the map, it is essential to list down its significance.

Significance of User Journey Map

The map enables PR and marketing people to:

  • Identify the flaws in communications. The product or service might be good enough, but the customer has varying levels of understanding. A deficit of communication may lead the customer to abandon the service.
  • Enhance satisfaction of employees as well as customers. The employees in every department are able to increase the productivity since they have an unambiguous set of goals ahead.
  • Reduce the costs substantially. Cost minimization follows the elimination of unnecessary expenditures which complicate the journey instead of simplifying it.
  • Enhance productivity. The business executives can identify the areas for improvement by careful creation of maps. Research reveals a 52% increase on average in revenue by using the user journey map policy.

Steps to Create Customer Journey Map

Identifying and visualizing the customer journey involves a series of steps.

Developing the User Persona

A persona is an idealization of customer. The design, development and testing teams should know about the kind of customers. A system with remarkable efficiency may not perform well because it targets the wrong audience.

Knowing about the behavior and buying trends of customer enables the teams to identify shortcomings of the system as well as its excesses. Usually, the buyer persona of various kinds of targeted audience overlaps for similar sets of behaviors and motivations. The disparity in demography rarely impacts persona because each of the customers follows similar motivational sources.

The customers may not entirely correspond to the persona. There is a range of customers outside the circle of hypothetical customers. Nevertheless, each of these customers associates to the persona in one way or the other.

For instance, the motivation of on-demand user is to eliminate the traditional ways of performing usual activities. Likewise, a commuter requires cab service at one’s doorstep.

Startup economy Ebook

Quantitative Research

After crafting the buyer persona, the journey map developers need to make both quantitative and qualitative research. The quantitative or analytical research involves the collection, synthesis, and visualization of data from a wide range of sources. Website analytics and online surveys are two of the primary sources of analytical research.

However, the overwhelming statistics from website do not necessarily imply increasing customer interest. Many visitors spend considerable time on website because they are unable to find what they intend.

Surveys serve a decent cause of preventing the misinterpretation of data. The executives of a company may find the glitches and obstructions by considering the customer feedback.

Although many marketers are reluctant to use social media, yet the platforms provide insightful details about the buyer’s journey. Majority of the people are using social sites for at least an hour per day. They share honest feedback after using the service or product. However, some users from rivaling companies malign the reputation at social platforms by sharing on-purpose negative feedback.

Qualitative Research

This research involves interviewing customers. Although it is a traditional technique to find their opinion, yet it is essential for consolidation of data acquired from analytical research.

The reliability and validity of data are crucial. Data sources are unreliable when acquired from social media because they do not necessarily represent the customer response. Besides, the currency of data is essential as well because old datasets may not imply the choices of recent customers.

Many companies seek services of PR agents who speak to customers. However, the diversity of customers varies inversely to the precision of buyer’s journey. If the buyers belong to various age groups, genders and origins, the buyer persona will be less specific. Hence, the map crafting team will have to spend additional costs to research every kind of potential customers.

Mapping the Journey

After in-depth research, the marketers need to plan the journey. This mapping involves visualization of journey followed by customer-centric marketing. Following principles can be applied to satisfy the attract-engage-delight cycle:

  • Mapping the journey to buyer persona and finding the gaps.
  • Finding the hurdles which keep users from seeing the significance of service.
  • Determining the cause of customer dissatisfaction by identifying the points which are causing them to abandon using service.
  • Personalization of advertisement and other marketing campaigns to cover entire demography.
  • Redefining the customer engagement over chat and social media.
  • Customizing the user experience to tailor as per their needs.

At the conclusion of these steps, the user journey map creator will be able to visualize the map by linking the user experience with buyer persona. Mostly, the result makes a line graph formation where positive and negative experiences are mapped above and below the line respectively.

Summing Up

It is unwise to assume customer’s behavior towards a product without making an insightful analysis. Crafting a user journey map is a vital approach to determine the pains and pleasures of a customer while dealing with a product. The companies can reshape their business infrastructure by identifying and correcting the shortcomings. Besides, they can promote activities which cause user satisfaction.

Are you struggling to reduce the costs, enhance sales, or attract or satisfy the customers? MobInspire can assist you in identification of missing links. To optimize your business, contact us today.

Choosing the Best Marketing Automation Tools for Startups

Unlike the popular belief, entrepreneurship and luck are disproportionate to each other. The success depends on the efficiency of planning, implementation and operational management. Selection of best marketing automation tools is one of the chief areas where startups lack since they downplay it to emphasize more on other departments. Consequently, some distinctive ideas with exquisite implementation end up in failure due to ineffective marketing approach.

In the contemporary circumstances where businesses in various industries are fiercely contesting for glory, wise businessmen incorporate one of the efficient marketing automation tools. Such tools do not only save a significant amount of time but enhance productivity as well to a considerable degree. Research from Forbes indicates that the startups that have acquired top marketing automation tools outperformed their rivals.

A number of companies offer marketing process automation with varying prices and features. However, the businesses should be careful. A wrong choice does not only waste money but exacerbates the enterprise’s performance by sharing erroneous figures.

The technological advancement has reached an extent that templates for emails and posts for social media are ordinary features for a marketing tool. A robust system should offer more than such usual features. Before sharing a list of best marketing automation tools for startups, following criteria share the evaluation parameters.

Startup economy Ebook

The Evaluation Criteria

  • The prospective customers are annoyed once they discover that they were dealing with robots and not humans. The tool should be adequately intelligent to offer communication skills as good as humans so that the prospects cannot identify the software.

  • Correct identification of consumer behavior and prediction of upcoming trends are must to enable the marketers to determine the potential markets. They also allow collaboration with production departments to integrate the features of public choice in their products and services.

  • A decent identification and predictive analysis will offer little help if they are not coupled with comprehensive data visualization interface. Visualization enables the marketers to extract some meaningful insights from a range of data take their business decisions by considering such insights.

  • The service provider should offer a reasonable pricing structure. The number of features and their effectiveness are important considerations, but the cost of acquisition and maintenance should be evenhanded too.

Following are top five tools which correspond to the criteria mentioned above.

HubSpot

HubSpot earns the top position for some undeniable reasons. First, its lead management tool provides unparalleled ability to automate the workflow associated with relevant emails to the prospects. The tool is intelligent enough to select the right set of people and refrains from sending to the ones who may get annoyed.

HubSpot is leading its competitors in attracting traffic by efficient campaigns. The dashboard provides insightful analysis about various performance parameters which assist the marketers in making appropriate decision. Thus, marketers should opt HubSpot, especially when the emphasis is inbound marketing. The price is relatively higher than the competitors, but it is worth it because the return is significant.

Autopilot

Autopilot provides an effective approach to consolidate the customer relationship and rapidly build new relevant connections. The tool carries an amazing ability to segment customers by monitoring their site activity. It senses the persuasion level of prospects to predict if one would convert into a customer or not.

Autopilot proposes various packages depending on the size of company. It offers an exclusive package custom-built for the startups. Besides, it can personalize the features as per the requirements of users. This customization results in a wide range of flexible pricing criterion. Autopilot enables users to synchronize hundreds of different tools of their choices.

Google Analytics

Google does not only offer the top search engine but a set of best digital marketing automation tools too. Google Analytics allows users to determine the amount of traffic and their origin apart from other useful details. The tool is free to use and does wonders while working in conjunction with Google Tag Manager – another excellent tool.

The tools determine the underlying platforms of visitors’ mobile devices and allow users to generate leads in the process accordingly.

AdWords Keyword Planner should be the top choice for effective SEO. Google provides information about the keyword searcher by monitoring the pertinent inquiries on its search engine.

ActiveCampaign

This intelligent marketing automation software for small business carries wonderful ability to assess the visitors. This ability enables it to send emails to fewer but most prospective customers.

It efficiently tells apart the prospects from other visitors. The funnel is very precisely defined that the conversion rate is highest among those who receive emails. With additional costs, the tool offers CRM and custom branding options.

The tool proposes lucrative offers to customers to further consolidate their relationship with the company. ActiveCampaign effectively analyzes the behavior of visitors before deciding about sharing certain offer.

Marketo

Marketo offers automation tools that are tailored-made for various industries. Although the re-usability of this tool is lesser because of the industrial specifications, the usability factor is excellent. Since the solution is customized, there are specific features which prevent deep training to reach what the user intends.

This cloud-based platform is highly scalable and allows management of millions of queries each day without compromising the performance.

It enables the customers to establish the most effective strategy which corresponds to the organizational needs. It is growing rapidly and the experts forecast that it will reach HubSpot in the near future. Marketo, arguably, already outperforms its rivals in flourishing the B2B enterprises.

Stay on Top

Each of these tools is outstanding, and it is tough to rank one over the other. However, few differences enable us to generate this leader-board. The marketing in businesses works very well when supported by any of these tools, but it works splendidly when choosing the right tool as per the business model. Other tools may work fine, but it is certain that the efficiency will not be as high as with the incorporation of these five tools.

If you are struggling to generate leads for your business or intending to initiate one, contact us today to allow our expert team to assist you.

On-Demand Platforms Are Building New Economies

On-Demand Platforms

It is often said that on-demand platforms are building new economies. The latest data on how consumer behaviour is changing reflects the same, showing that the economic activity in these sectors is growing. It has been developed and nurtured primarily by tech-based startups. The idea here is to have the demands of clients and consumers met by directly providing the goods and services they need.

One of the reasons that the on-demand economy is growing in preference is the need for convenience. Most of the companies are able to provide much faster delivery times, easy to follow logistics and reduce the time spent in planning ahead. Not to mention, all of this syncs in perfectly with the smartphone and other digital media.

The sheer numbers involved in the business are growing each year. Many new startups have raised over $20 million in valuations and funding.

JetSmarter

Perhaps the ultimate in on demand platforms and luxury, JetSmart provides people the chance to fly anywhere in the world. The catch is, the flights are all in a private aircraft and everything else can be customized as per need.



Read Also: Top Business Intelligence Trends You Should Know For 2019

Luxe

A simple idea, Luxe simplifies parking for people in the city. With the help of the app, valets are provided as and when needed, helping people stay on track without worrying about parking.

Scandid

A price comparison app for customers that want everything on the go, Scandid is earning rave reviews. It has been slated for greater valuations in the future.

The common factor in all these on-demand platforms is that they have a strong app to rest on. Mob Inspire creates apps that can help your idea grow into an on-demand platforms as well. The on-demand platforms are creating new micro-economies, which are the way of the future.