Parangat Technologies

Category: Marketing

  • What is m-commerce? Advantages, Disadvantages, and must-have features.

    Mobile commerce, popularly known as m-commerce, is a medium that helps people buy and sell goods and services through their smartphones and tablets. In simple words, m-commerce means any monetary transaction completed using a mobile device. Kevin Duffy introduced this term in 1997. Some examples of m-commerce include purchasing, e-commerce apps such as Flipkart, and Amazon, or digital wallet apps such as Paytm, Samsung Pay, Apple Pay, and Android apps.

    According to the report, spending through mobile devices, the total eCommerce sales accounts for 34.5%, and the number is still growing. It is the most rapidly growing sector of e-commerce, and web app development companies play a vital role in developing a robust, interactive, and feature-rich application. In India, approximately more than 70% of online transactions happen from mobile phones, and it is a 700 billion-dollar industry all across the globe. The most affected industries by m-commerce include financial service, telecommunications, service and retail, information service, and many more. 

    Here, in this article, we will discuss the advantages, disadvantages, and must-have features of m-commerce.  

    Advantages of M-commerce:

    1. Provide easy store access

    No doubt, M-commerce websites, and apps help customers to explore the product available in the market. They don’t need to travel to the store to purchase any goods or services of their needs. They can buy their product online with their smartphone or tablets. This helps to save their efforts, time, and money.

    2. The large order processing platform

    M-commerce allows store owners to sell numerous products or services at once throughout the day. As customers don’t need to go through a checkout line for any transaction that takes so much time. A customer can easily log onto any platform and purchase anything or everything according to their requirements.

    3. Better user experience

    User experience matters the most in e-commerce as there is no possibility of direct contact in this kind of shopping. In today’s era, people are so well acquainted with their smartphones or tablets. And, they know precisely how to search for or purchase the desired products or services of their need in just some simple clicks. Not only does m-commerce provide a better user experience, but also it saves time too. To provide a smooth user experience, make sure your mobile app is fast, convenient, interactive, and exclusive. This will also help you to make your eCommerce business successful.

    4. Higher ROI

    According to Google reports, approximately 67% of people prefer to purchase any product or service from a mobile-friendly e-commerce site. And, about 61% of people move away from a website that is not mobile-friendly. Even though your product explicitly states it’s benefits, but a word of mouth marketing boosts sales. When a customer using your product, gives their review offline or online, they motivate other potential customers. Since this type of marketing is free, it generates more profit and covers the cost of upgrading your eCommerce site.

    Disadvantages of m-commerce :

    1. It requires technology access

    What if a customer doesn’t have a smartphone? Well, if a customer doesn’t have a smartphone or tablet, then he can’t leverage the m-commerce service that most business provides. If a customer has a smartphone, then also it must be able to retrieve company information and transmit a sales order. So that the user can get a brilliant experience. 

    2. High competition

    M-commerce creates a global market, so the competition for any product or service becomes automatically super high. There are numerous m-commerce apps available all across the globe that provide precisely the same service you provide. As you are not the only provider in your community, it takes a lot of time and effort to build up sales from mobile commerce.

    3. Requires fast service at all times

    It requires a fast service to engage potential audiences. With m-commerce, you have to provide quick service at all times, no matter what. According to the report, customers will stop using an app or website that takes more than 10 seconds to load the information.

    You must be vigilant enough to maintain your mobile platform to avoid issues that could cost some business.

    Must-have Features of an M-commerce application

    Add Analytics and Information- In the world of big data, analyzing and recording the data is one of the essential features that you must embed in the application. Analytics helps you to make the necessary changes in the decision, and it also allows users to compare and make the right decision. With the help of data analytics, you can understand user behavior and can improve the user experience significantly. To offer useful, delightful interaction, and easy-to-use m-commerce applications, make sure that you hire the best UX design company in India. 

    1. Log in with Social Media Account

    Another critical feature that you should consider while developing an m-commerce application is providing a simple and easy log-in option. Offering a Social Media log-in option, users can seamlessly register themselves within the app without any fuss. This system will also help you to get the required information about your potential audience. 

    2. Push Notification

    One of the most compelling features is incorporating push notifications, which helps you to reach out to every potential user with an immediate effect. With push notifications, you can inform your users about promotions, discounts, sales, and other marketing activities that give you beneficial results. Customers can get all the latest updates about your m-commerce application. From the perspective of business growth, push notifications are helpful.

    3. Search and Filter Option

    Must include advanced search and filter option features in your m-commerce application to offer a seamless experience to the users. With the help of an advanced search option, users can search the product based on their needs, which saves the users time. 

    Filters are an extension to search the target product or similar ones when applying the filter option, either individually or in combinations.

    Wrapping Up

    If you are planning to develop an m-commerce mobile application, it is necessary to offer an amazing experience with all the critical elements. A great experience is a soul of shopping for users. 

    According to Business Insider, it is expected that m-commerce volume to rise at a 25.5% CAGR from 2019 to hit $488.0 billion in 2024. Smartphones and Tablets are driving the m-commerce revolution. Are you looking for a top mobile app development company in India? Share your app idea with us and take your business to a new level!

  • Why Restaurants and Coffee Shops Need A Mobile App?

    Gone are those days when food places, cafes and coffee shops use traditional marketing and advertising strategies to reach the masses. Now, it’s time to get inside at least one of the gadgets that people can’t live without – laptops, computers, smartphones and tablets. We can’t imagine our life today without at least one of these gadgets. Why?? – Because we trust and depend them with a lot of our daily activities: recapping about meeting and events, watching weather changes, tracking health issues and finding our favorite foods nearby. Over the years, as the number of mobile users has grown, mobile applications have also increased and have become an essential part of every brand and business, irrespective of their size and industry. And, so is the scenario of restaurant industry. In order to catch up, and stay ahead of the competitors’ business, every food business must get their own fully customized and user-friendly restaurant app with a robust back end support which allows restaurant owners and managers to manage and customize their processes and services.
    Restaurant apps have advanced into something more than an application that provide users keep track of their favorite food places. As these apps provide all-in-one benefits that includes tasty browsing experience, easy reservations, checking out menus, reading online reviews, one-touch communication, social integrations, analytics and even ordering in few clicks. Now many restaurant owners uses their apps not only to delight customers, but also to keep their clientele close to them virtually. Due to this restaurant businesses are topping the list of industries going mobile.

    Restaurateurs leveraging mobility to revolutionize the dining experience

    Mobile is giving location-based targeting and marketing a major boost, and that’s why it is offering an exceptional benefit for restaurateurs to reach their potential mobile users. In 2013, a rapid increase in use of mobile site and mobile apps is seen in restaurant industry: More than half of food-joints had a mobile site, and almost 30% had a mobile app. Due to lower overhead costs and additional data about their consumers, restaurant owners are also rapidly looking for apps that can provide a competitive edge to their businesses. According to recent surveys, smartphone and tablets users have increased into over 73 million people in the United States alone. These patrons are majorly interested in basic information, especially exploring their favorite hangouts. In recent years, a rapid increase in adoption of these restaurant applications is found because they offer the opportunity to get and retain both local and out-of-town clients without spending much. Menus topped the list as one of most common features in restaurant apps.

    A restaurant search feature that includes location-based GPS is also one of the most popular and required features, especially among chain restaurants that have many divisions in many different locations.

    Moreover, developing a mobile app is basically offering your patrons to get-in-touch with your services in just few clicks. It is basically a much better way of reaching to your customers than making them to go to a website and stumble across your competitors while hunting for you. Some benefits of restaurant mobile apps are:

    1) Increases your Customer Base and Engagement

    2) Lets you improve dining experience

    3) Increases Customers Retention

    4) Optimizes process and reduces time

    5) Lets you know your Customers

    Parangat, a top-notch Mobile App Development Company, based in India, offers its expertise to develop a robust, customized and easy-to-use app for all types of food-joints, restaurants and cafes.  Our team helps you in adding a pinch of ‘mobile app’ to your business to enjoy the unlimited flavors of customer satisfaction and retention by providing an infinite business opportunities by increasing brand value and revenue. In case you have any queries, feel free to contact us.

  • Minimum Viable Product (MVP) Guide to Product Launch Strategy

    When it comes to the life of an entrepreneur or startup founder their life is pretty glamorous – everything is up to you as you are your own boss, you start from scratch and create something from nothing, you get to realize your dreams, and you often have a bunch of disposable income that allows you to facilitate your startup with machines in your office for your employees. Minimum Viable Product (MVP) is your basic idea that is wrapped up in a number of beneficial features.

    While some of the entrepreneurs succeed the same does not go with all others. The chances of succeeding in a startup game are not as great as some lead us to believe. There are a large number of reports that analyzed and poured the success rate, and most cite percentages that range from 50% to a worrying 10%.

    Although the failure rate is high as compared to the success rate still we can attempt to increase the rate of success by figuring out various ways and strategies.

    Creating a Minimum Viable Product (MVP) is one of the most efficient, valuable, and time-saving ways of tasting the sweet, collective tangible feed from a wide range of users, and validating the idea will add to the count of increasing the success rate.

    {.. An Entrepreneur’s Approach to the pre-Launch period is a thin line between his failure & success…}

    MVP in the Nutshell

    It does not matter how great your idea is, it must find its embodiment sooner or later. At this stage, you should remember that even great entrepreneur started from scratch. They had nothing except the idea they believed in, it was their high thought that craved the road to success. Starting with a small footstep will make you reach your destination miles apart. We recommend you gather your first steps in an MVP (Minimum Viable Product).

    As it is important for the startup strategy it allows learning more about the product with less effort.

    Some of the main parts to be included in your MVP plan are:

    {…Minimum Effort, Maximum Learning…}

    You need to identify the target audience for your business:
    The success of the business depends on the customers. You need to understand your customers as it is one of the basic principles for your business growth.

    You need to have the answer to these questions:

    Which age group do they fall into?  This info will help you to shape your content, design, and user experience to suit them.

    Which social media and website do they use:
    This information will help you at the time of launching your application and gain feedback.  You will have a clear idea of their insight behavior. Let me highlight a great example of how this information is so effective. Are you aware of the Dropbox story? Before the launching of the Dropbox product, the founder, Drew Houston, released a 30-second video on Hacker News, which contained a large amount of his target audience. As a result, he captured over 70,000 email addresses of highly interested future customers for them to launch the product. This indicates that insight knowledge is beneficial to any business to a great extent.

    You need to analyze the market:
    After identifying the target audience, you need to analyze the market to spot new business opportunities and identify the business risks. The areas to be analyzed are:

    Size of the market:
    You need to know whether or not the market is flooded with apps like yours. If so you need to rethink and replant your strategy and you need to figure out nice alternatives and the undeveloped areas for a great outcome for your business.

    Rivals or Competitors:
    You need to know the rivals better and a clear idea of your product will help you figure out their marketing strategy and their mistakes so that you can build up a better business plan and improvise the actual growth of your business plan.

    You need to validate your riskiest assumption

    The riskiest assumption is usually your unique selling proposition which is validated with the help of a minimum viable product before investing everything in a business model that is rotating around it.

    You need to select the right feature:
    The features you select for your MVP will require to be the ones that are closely related to your MVP’s main goals – to test assumptions, validate ideas, user feedback, and your application’s potential.

    You need to find the right technology partner:
    To successfully take your MVP from the planning stage to creation, to post-launch development through to application support, you will need to contact a full-service team that will act as a Technology Partner and will work with you to boost your business process.

    Tips to be noted:
    If the chances of success for your startup are against you, then an effective plan, your MVP, and making the right decisions based on detailed research and facts will ultimately buy you a winner’s seat on the table of the competitive market and will add to the long-term business success.

  • Importance of LinkedIn Marketing

    In today’s era, everyone is quite aware of the fact that the competition is way beyond limits. And to survive this ever-growing competition, one must consider all the options available to help the business flourish. Marketing is the most crucial factor in the success of a business. In our previous article, Marketing Strategy for Startup, you can find the benefits of a proper marketing strategy and the perks of online marketing. Considering the level of digitalization in today’s world, one must also consider having a digital add or place to increase the reach of business beyond geological boundaries. LinkedIn can help you solve this purpose.

    What is LinkedIn?

    LinkedIn is the best professional place to ensure that your business gets in the light of an authentic audience that might be your potential clients as well as competitors. It is practically the largest professional network in the world. LinkedIn is not only the best place to promote your business but also to build corporate relations and connections throughout your service domain and target mass.

    You can have your company page set up on LinkedIn to ensure that everyone can reach out to you and you can have the digital presence that always benefits the business. Merely having a company page is not what you need, but it is also crucial to keep it updated. This is what your start with a company page would look like.

    Why use LinkedIn Marketing for Business?

    LinkedIn is the best place to attract top and considerable talent to your business. You can have a dedicated careers page on your company page and broadcast your job openings to the right talent and identify their skill set as well. As this is not enough, LinkedIn also helps you get the top prospects for your business. You can have professional reviews and recommendations for people in the same business line and those who have sufficient experience in the business.

    These delicate features of the LinkedIn platform make it the best choice to use LinkedIn for business. But LinkedIn is not a place where you can just advertise or market your business because you have one. Since it is a highly professional platform, you need to ensure that you have a proper LinkedIn Marketing Strategy in place to have a structured and well-organized marketing plan. In the “Age of Online things” that we are currently living in, you might want to have the best of what you have on the best online marketing platform.

    Christina Newberry in his article on ‘LinkedIn for Business’ said, “With 562 million users, LinkedIn is all about building networks and connections. It’s not only about who you know but about who your connections know. That’s the real power of LinkedIn for business: the ability to tap into existing connections and grow your brand through word-of-mouth. It’s also the top-rated social network for lead generation.”

    This pretty much explains why one must consider getting LinkedIn involved in the digital promotion of his business.

    Benefits of LinkedIn Marketing

    Considering the above discussion one can easily conclude that LinkedIn has several benefits to your business and relations that will help in the growth of the business. Here are some key points from some of the top global reports about the perks of using LinkedIn marketing for business:

    • The benefits to B2B marketing: According to the 2015 Social Media Marketing Industry report, LinkedIn has now surpassed Facebook as the #1 most important social platform for B2B marketers. While only 21% of B2C marketers cited LinkedIn as their #1 platform, 41% of B2B marketers put it at the of their list (compared to just 30% who said Facebook was the most important).
    • Most effective platform for a product’s launch: According to polling done by Regalix, LinkedIn is now the #1 platform used for product launches among B2B businesses. A whopping 81% of B2B businesses say they use LinkedIn for launches, compared to 71% who use Twitter and just 54% who use Facebook.
    • Effective manpower platform: LinkedIn is the best place these days to recruit highly qualified talent to fulfill your business needs and meet the required manpower to have your Business functional with full potential.
    • Personal Branding: Consider the services that you use for yourself. Or consider the Business of famous brands of vintage cars. Do they need to put their heart into marketing as a startup or less famous brand might require? The answer is quite obvious to us all. For the growth of your business, you can use LinkedIn.
    • Reputation building: Having better connections, formal recommendations and properly channelizing, organizing, and structuring your company page on LinkedIn can always help the business gain the benefits of word-of-mouth. Once you have a great reputation built up for your Business, then launching products/services or promoting them would be much easier.
    • Sales Networking: For a Business, the key to sustaining in the constantly changing market and end-user requirements is through having a sustainable network and worldwide connections. This not only keeps you updated but also helps in reaching the farthest ends of marketing. You can use the best people to market your product and have a wider reach.

    Conclusion

    I hope that all the points discussed above have convinced you that investing in LinkedIn Marketing is worthwhile. Using it as discussed in the points above and having a proper strategy can help you address users more professionally. If you are not having a LinkedIn Business page or profile, it’s better now than never. With your competitors out there growing every minute and things changing, enhancing as we speak, every minute counts. So if you are planning to have a business and make it successful, now may be your turn to start with using LinkedIn for marketing.

    Looking for a reliable Digital Marketing Agency that can help you scale your business? At Parangat, we blend exceptional ideas and technology, thus ensuring you get all the key ingredients for generating the right buzz in the marketplace. Request a free quote or reach out to us at [email protected] for more info.