8 Neurotechnology Startups That Are Way Ahead Of Time

8 Neurotechnology Startups That Are Way Ahead Of Time

Introduction

Neurotechnology means the collaboration between human brain and technology. It has been around for more than a half-century now, but in past two decades the technology has really picked up pace. Today, Neurotechnology is making a significant impact on society by improving people’s brain health & cognitive abilities. And we have only begun to explore its expanse.

From pharmaceutical drugs to brain scanning, Neurotechnology impacts nearly all industrialized people, directly or indirectly. The technology has numerous applications – be it from drugs for depression, sleep, ADHD, or anti-neurotics to cancer scanning, stroke rehabilitation, and much more.

It also includes technologies that are designed to improve and repair brain function and allow researchers and clinicians to visualize the brain and understand it in a better way. Go through the infographic to know some of the emerging startups in the field of Neurotechnology & their ingenious products below.

Neurotechnology Infographics

Disclaimer: The Blog has been created with consideration and care. We strive to ensure that all information is as complete, correct, comprehensible, accurate and up-to-date as possible. Despite our continuing efforts, we cannot guarantee that the information made available is complete, correct, accurate or up-to-date. We advise – the readers should not take decisions completely based on the information and views shared by FATbit on its blog, readers should do their own research to further assure themselves before taking any commercial decision. The 3rd party trademarks, logos and screenshots of the websites and mobile applications are property of their respective owners, we are not directly associated with most of them.

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Quick Guide on Online Marketplaces for Aspiring Entrepreneurs

Quick Guide on Online Marketplaces for Aspiring Entrepreneurs

Introduction

The advent of online marketplaces is nothing short of a revolution. 10-20 years ago, things that took a lot of time, required commuting from one place to another, and consumed a lot of other resources – now happen in just a few clicks of mouse.

More importantly, the concept of online marketplace has provided ambitious business enthusiasts with endless opportunities to realize their entrepreneurial dreams & bring change in their community, country, & even the world. In a way, online marketplaces are internet’s gift to our generation.

FATbit team has prepared this infographic to help individuals with entrepreneurial spirit to understand the fundamentals of online marketplaces, so they find themselves on a better footing to start online startup of their own.

Online Marketplace Business Guide

Disclaimer: The Blog has been created with consideration and care. We strive to ensure that all information is as complete, correct, comprehensible, accurate and up-to-date as possible. Despite our continuing efforts, we cannot guarantee that the information made available is complete, correct, accurate or up-to-date. We advise – the readers should not take decisions completely based on the information and views shared by FATbit on its blog, readers should do their own research to further assure themselves before taking any co

101 Actionable Best Tips: How To Make Your Website Sell

101 Actionable Best Tips: How To Make Your Website Sell
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Every webmaster wants to know “how to make a website sell more”, with 60+ hours of research and 14+ years of experience in online marketing area, FATbit has compiled this 101 actionable points to help you in engaging visitors, improving sales, and making the right impact. You should definitely diagnose your website against these 101 points. Enjoy the post… 

On coming across a website for the first time, online users skim through it quickly, and if it doesn’t meet their expectations, it is abandoned within seconds. If losing your treasured customers due to this haste of seconds is your biggest nightmare then learn about the tips to make your website sell and play safer with FATbit expert’s recommendations.

Your unique product or service will get a chance to impress only if website leaves a positive impression. It seems unfair but unless you are a big name or the only supplier of the product/service, you will be judged by your website. And visitors judge whether your website is worth their time or not in just a few seconds.

So this post will teach you how to impress your visitors and generate more leads. The points that roll in this list will equip you with the jargon of optimizing website to improve sales and increase online visibility. All you need to do is making an action in the given direction for witnessing a notable change in your conversions.

First Impression should always be right

1. Organized website structure which includes a well-planned homepage as well as unique and custom design. A minimalist design without distracting backgrounds ensures the information reaches visitors seamlessly.

2. Other than going for readily available templates, go for a custom design that offers you a unique and distinctive look.

3. Adopt color psychology which aids in increasing the conversion rate of an online business.

4. Modular layouts that let content shine have the biggest impact on visitors.

5. Have a consistent style across your website. This makes it easy for the visitor to get accustomed to your website design.

6. Header sliders are a thing of the past. Nowadays it is prefered to use illustration in header, 360 degree videos, animations and gifs which tell a story.

7. Use favicon and logo on every page of your website.

8. These days screen sizes vary across platforms, therefore it is advised to adopt a responsive designfor your website.

8.header1

Also Read: 10 super tips to build a user friendly mobile website

9. A hero image is an ideal solution to immediately arrest a visitor’s attention and entice them to explore your site further.

10. Do not over stuff your website with content and graphics. Use a minimalist design and lighten up your website.

11. Avoid using unnecessary popups as they hinder user experience. Use them effectively. Check this post to find out more.

12. Ensure there are no spelling mistakes, typographical errors, spacing or alignment issues.

13. Website loading speed should always be kept in check. If your website is slow to load then it will not only decrease user’s interest in your website, but also affect your search engine rankings.

14. Picking up appropriate keywords will help reduce bounce rate as only relevant traffic will visit your landing page.

15. Restrict amount of information you display on the homepage and just highlight details like logo, tagline, services offered and USP.

16. Use scalable vector graphics (SVGs) for responsive website.

17. Use skeleton screens to improve speed of the UX.

18. Never use a splash screen for a website. It is only useful for mobile apps.

19. Do not use a registration or subscription popup at the doorstep of your website.

20. Auto-play audio and video are not recommended for a website.

21. Separate advertisement from main content.

22. Do not display information on your website that is not yet available. Seeing a “Coming Soon” or “Under Construction” is not advisable.

23. Ensure there are no 404 errors, broken image links and resolve any form of technical issue.

24. Conduct cross browser testing and screen resolution testing before making any webpage live.

25. Replace your stock images as it prominently screams that “we are fake”. Put more authentic images instead or use a combination of stock and custom photography.

User Friendly Architecture

26. If you publish large amount of content on a regular basis, then it is advised to use page hierarchy to organize your content. This helps users to find the content more easily.

27. In the menu bar, you should a mega menu with responsive sub navigation menu.

28. Make sure that your website is easy to navigate and users can find the relevant information without any hassle.

29. You can use a vertical dot navigation styles and one page scrolls.

30. Do not waste your header image just to look pretty. Offer a CTA or link the image to an inner page.

31. Make sure that you always use breadcrumbs for navigation.

32. Offer the main value proposition within the first fold of your web page as 80% of users spend their time looking at the information above the page fold.

33. Provide a glimpse to the user that there is something below the first fold too, so that the visitor scrolls down and views the remaining content.

34. If you cater to a global user base speaking different languages, ensure that your website has options to be translated as per the target audience.

35. Instead of using old CAPTCHAs, get creative by using latest CAPTCHA trends which can be fun for your website visitors. This includes word and math solution, drag and drop, JQuery slider, etc.

36. Add a sitemap in the footer and sitesearch option at the top.

37. Always ensure that the external links do not open in the same window.

38. Provide acknowledgement to the user after any type of successful conversion.

39. Keep the branding consistent throughout the website, like same font, color scheme and layout pattern.

40. Prefer pagination over infinite scrolling.

41. Design your website in accordance to user expectation, like clicking on website logo takes user to homepage.

42. Make sure that the functionality of the back button is consistent across your website and does not break the navigation.

43. Avoid automatic refresh of the content when the user is viewing a dynamic page. You can place a notification stating new content is available.

Conversion Path Optimization

44. Value based exits – Offer more value when a visitor is trying to exit midway.

45. Focus more on enticing CTAs. Ensure that it creates anxiety and urgency, solves some problem and compels someone to stay on the website.

Must Read: How to create best CTAs that create more leads and sales

46. Use contrasting colors for call to action buttons and test different shades to determine what works best for your website.

47. Include content and media that is persuasive.

48. Always keep your main heading and text towards top left corner and your call to action towards bottom right

49. The checkout process ought to include minimum steps and minimal forms

50. If a user has left some conversion critical action midway to browse some other page, offer them a reminder to complete the process, but do not pester them.

51. Use arrows on your page as a directional cue to boost conversion

Content Relevance and Presentation

90. Have a dedicated page to address user queries and FAQs.

91. Clean the cobwebs on your website. Refresh your look and content from time to time.

92. The content on your website should be original, plagiarism free and should focus on your target audience.

93. Use hand-drawn annotations, which always commands attention.

94. Use visual aids and statistics to support your content.

Also Read: What makes visual content so critical for a website

95. To improve readability, use the same alignment consistently across the page.

96. Use interesting headings, sub-headings, and fonts to draw attention to your content and make it easier for the reader to scan through the page quickly.

97. For an ecommerce website, there ought to be proper visitor and product segmentation.

98. Give your visitors a reason to buy from you via competitive positioning or USP.

99. Clearly tell your customers how you are better than the competition by highlighting the solutions you provide for a given problem.

100. Your webpage should highlight all the information that is crucial to the visitor.

Also Read: 13 sure shot tips to improve E-Commerce Sales and Brand loyalty

101. Highlight a clear breakup of the difference between various packages offered, highlighting which package offers what.

Bonus point

Add fun elements: People remember how you make them feel, if we make them smile by including some fun element on website. They will always remember the website and bounce rate can also be reduced.

Fun-people-page-Jellyfish

With this checklist of 101 actionable points by FATbit, now you definitely know the answer to this mystic question ” how to make your website sell “.

We know it has been a long post but there is still one important lesson left. There are various not-so-good-looking websites that are doing great in the web zone. Craiglist surely is a good example. You can check this blog by kissmetrics to check some more.

To stay updated on professional insights and industry best practices, it would be helpful if you subscribe to the following: Conversion-Rate-Experts, ConversionXL, Marketo, Moz FATbit Their blogs are a great resource to learn more about conversion optimization and internet marketing.

Also Read: Actionable Strategies To Increase Blog Traffic

For making a lasting impact, it is important to keep in mind visual as well as functional aspects. While undertaking design and development work for our clients, we always keep above points in mind to ensure real business benefit. These tips to make your website sell will certainly save a lot of your time on research and will directly give you a well thought out action plan to implement.

If you have anything to share with us don’t forget to make use of our comments section. Your comments and feedback are valuable to us.

52. Always do a follow up on a user who left a process midway.

53. To control cart abandonment you can also offer deals on products added to the cart.

54. At the time of the checkout show the images of the product in cart.

55. Feature most selling and popular products on home page.

56. Your landing page should be dedicated to a single cause and should not have any outbound links.

57. Make your registration process quick, streamlined and hassle free.

58.Pricing Structure should be carefully planned and should not seem overly expensive.

59. The price should be clearly indicated where necessary. You can also create a sense of urgency like limited time offer or n items are left in stock.

60. Ensure that your landing page offers the visitors all that has been promised.

61. Use high quality product images on product page.

62. Remove any form of distraction close to conversion funnel.

Also Read: Tips to increase online sales via conversion funnel optimization

63. Offer recommendations in the form of suggested items or related products.

64. Physical addresses, contact number and tech support details should be clearly visible on contact us page.

User Engagement

65. As more and more web pages are designed with border-to-border artwork in a single-column style, content below the fold is more likely to be missed. Add arrows or other visual cues to encourage scrolling.

66. Principle of Reciprocity– Give away valuable resources related to your industry for free (example: a free eBook, a trial pack, etc.) so that the other person feels indebted and uses your services or refers you to someone else.

67. Have a limited number of tabs in the menu bar and incorporate nesting of menus.

68. Organize Webinars and other online events to discuss latest trends of your industry.

69. Make the content available on your website shareable across social media platforms.

70. Publish a blog on a regular basis to engage users through your content.

71. Stay active on Social Media websites to build a network.

72. Start a newsletter to update your subscribers about any new event, product launch or any useful update.

Give a human feel to your website

73. In the era of Chatbots and artificial intelligence, customers do look forward to get the answer to their questions with a personal touch.

74. Use “About Us” page to introduce mission, values and vision so that the visitors get to know more about your company.

75. Include a list of your employees and their credentials so that the visitors can see who is working behind the scene.

76. Ask your users to leave a feedback or some suggestions.

77. Do not merely list all your offerings in a bunch of bullet points. Properly highlight how your product or service can solve a problem.

78. User prefer to choose you if they like you over the competition. Ensure that you solve their queries in a timely manner, do not charge them unreasonably, and make them feel important.

79. Keep your comments section moderated to avoid spam or irrelevant comments.

Trust building elements

80. Show your availability on various social media platforms. Highlight your accounts on your website.

Also Read: How to increase sales of a business using social media

81. Showcase your company culture to your potential clients.

82. Use guarantees, risk reversal mechanisms for garnering trust.

83. Talk about awards, accolades and recognitions entrusted upon you on your homepage

84. Include case studies/stories of your work with your past clients. Highlight list of your clients, past works in the form of a portfolio, or live demo of a product.

85. Showcase what neutral third parties (authoritative sources like news publishers, influential blogs) have to say about your work.

86. Privacy Policy, Terms and Conditions, contract details, shipping policy, return policy, etc. should be transparent and clearly mentioned on your website.

87. Always highlight why you need a particular information, when requesting it from the visitor.

88. Use testimonials from past customers and place them right before your CTAs. This is highly helpful in increasing conversion rate.

89. Secure your checkout pages and display security icons/signs on them.

On-demand Video Service Is a Hot Trend in India & How Startups Should Capitalize

On-demand Video Service Is a Hot Trend in India & How Startups Should Capitalize

On-demand video service is the ongoing phenomenon in the Indian internet market-even though there’s no constant buzz around it. American video streaming services – Netflix & Amazon Prime are roughly one year old in India, but have already begun to run profitably; and they are not even the top ones.

Local players, namely, Hotstar, Jio TV, Voot TV, and others currently lead the race. And they are reaching wider & deeper into country’s growing internet market at an impressive rate; proving at every milestone that a good part of India is watching TV on the internet.

Top Players User Base

Despite quick market penetration, on-demand & live video streaming service is still in nascent stage in the country and there’s much evolution to happen in the field. This puts every service provider – local, foreign, and even upcoming – roughly on an equal footing.

After doing a thorough analysis of this young but competitive market, we have assembled a list of areas that will play the crucial role in the success of online video streaming startups in coming years. So, if you are a budding video streaming service provider, act upon the growth opportunities mentioned below.

Focus on Regional Content

The success of Netflix & Amazon Prime in India so far is driven by their adoption in tier I cities. But the next stage of growth lies in tier II, tier III, and even rural areas of the country – where local content is the key.

Currently, Netflix offers very little Indian content. Amazon Prime has a bigger local content library, but that is still negligible to the amount of video content the country produces.

Indian film industry Bollywood produces more than a 1000 movies each year in more than two dozen languages. Besides that, there is also a huge amount of regional TV content.

Leading film markets worldwide

Source: Statista

So far, local players seem to have a better hold on the local content, which has comfortably put them in the leading position. Given its importance, regional content will soon be on the radar of every player. If this assumption is right, for now, it’s a pretty much ‘the early bird gets the worm’ situation for live video streaming service providers in the country.

To have an edge over others, you can buy exclusive rights for certain local production houses/TV channels that you think are most popular among your target audience.

Capitalize on Mobile Trend

Internet penetration in India has doubled in past 3 years (from ≃15% in 2013 to ≃30% in 2016), which is primarily due to the rapidly growing number of smartphone users in the country; in other words, due to mobile internet penetration, which is further accelerated with the launch of Jio SIM by Reliance Comm. Ltd. in September 2016.

As a matter of fact, the rapid growth of live video streaming services in India is also triggered by mobile internet. According to an App Annie research, Jio TV & Jio Cinema sit at the 2nd& 3rd position in India, both of which are mobile-exclusive live TV & movie streaming services. The same research found that time spent on video streaming apps on Android devices has grown by 600% in past one year.

Number of Smartphone Users

Source: Statista

Currently, there are 300 million smartphone users in the country, and the number is estimated to reach 500 million by 2021. All in all, this makes India a ‘mobile-first’ economy; thus, it becomes crucial for video streaming service providers to follow a ‘mobile-first’ approach.

And, as for which mobile platform to focus, India smartphone market is ≃95% Android; so, there’s your answer.

Show Original Content

The success of Amazon Prime & Netflix in the West is primarily driven by the original content, since pretty much everything else is available on either YouTube (which also recently entered the live TV streaming industry) or other online video streaming services.

In India, the trend of original content is catching up, but rather slowly. So far, Voot TV (through their exclusive rights for Viacom 18 production house), ALT Balaji & TVF Play* seem to be the only players that have a good amount of original content.

TVF Voot

By and large, in long-term, original content is the key differentiator in the entertainment industry. So, it is important for video streaming startups in India to start investing in creating content (TV series & movies) of their own.

If the budget for the production of original series is a problem, then collaborating with popular individual video content creators is another good alternative. YouTube is a good place to search for such individual contributors.
Initially, FATbit designed & developed the TVF Play website.

Price the Service Smartly

Unlike the US & Europe, India is a tricky market, where consumers are not used to pay for video content due to several reasons – piracy of digital media is rather common in the country, plus, a good amount of video content is already available for free on the internet – on YouTube, TVF play, etc.

Given the situation, there’s a tough task ahead for video streaming service providers operating in India. To curb this challenge, highlighting the exclusivity of the content available on your platform is crucial.

Also, the subscription plans should be designed in a manner that they cater needs of a wide range of viewers, and seem light on the pocket for all.

Apart from that, there are few tactics you can consider in order to persuade consumers to subscribe to your platform. Offer registered users some extra value added features and access to premium content such as download & offline viewing feature, ad-free subscription, access to original series, direct mobile carrier billing, etc.

Pay Attention to User Experience

In addition to acting upon the above-listed business growth tactics, you also need to ensure the soundness of technical aspects of your video streaming platform.

India being a vibrant country, comprising different cultures & different languages, inevitably has a wide range of video content consumption habits. With that in mind, you need to pay attention on an intuitive classification of the content available on your website based on genre, region, language, production house, old/new, & so on.

Additionally, a video streaming website/app is a rather resource consuming platform; thus, extra efforts are required to ensure a seamless performance (despite weak network signals) and robustness (despite the load of concurrent users) of the system.

To take care of these concerns, it is important that you outsource your video streaming web project to an agency that is competent enough to handle such projects & experienced enough to deliver a rich user experience to the web audience.

Conclusion

Currently, more than 50% of India’s population is below the age of 25 (about 700 million). With rapidly growing internet infrastructure in the country, it is certain that a good percentage of this number will become direct customers to video streaming service providers in near future. So, there’s no question about the scope of growth of this industry in the country.

For now, the important thing for live TV & on-demand video streaming service providers is to recognize the existing growth opportunities to meet customers’ expectations better, and lead the way.

Business Model and Feature Analysis of a Property Listing Website

Business Model and Feature Analysis of a Property Listing Website

The traditional business model of real estate has been facing some serious competition from the past few years. According to a 2016 report from National Association of Realtors (NAR), real estate related searches on Google grew 253% over the past four years.

The report also stated that an overwhelming majority (87%) of the recent homebuyers said they used the internet as an information resource during their home-buying process, and nearly one-third mentioned they first learned about their newly purchased home from an online channel.

These stats surely highlight the demand for a property listing website as well as growth potential, but before you jump into the pool of property listing you need to understand how the online property listing website actually works. In this post, we have carefully analyzed online property listing market and have covered all the vital aspects which will give you an insight into the business before starting it.

Business Model

The business model of a Real Estate listing website revolves around connecting property buyers with sellers. It saves time and efforts of both the parties and bridges the gap between them.  The broker/seller lists the property on the website which is available to the people looking to buy/rent.

So the basic function that a Real estate listing website performs is: –

  • Rent property
  • Sell Property
  • Buy property

So after a buyer or a seller understands their requirements they go through these simple process: –

Process for Buyers

  1. Select the City/ Region/ Country where they want to rent/buy property
  2. Choose the property suitable for you among the entire list of properties
  3. If you haven’t registered on the website then register with your phone number and email id.
  4. After you have registered yourself an automatic message is sent to the seller to contact you
  5. If that does not happen then, the contact number of the seller is available for you
  6. Contact the seller and fix appointment

Process for Sellers

  1. Register on the website
  2. List the property on the website by mentioning the locality and the address
  3. Fill in all the details of your property i.e. number of rooms, property size, the number of floors etc.
  4. Fill in the contact details and your property will be listed on the website

Popular Property listing websites

  • MLS
  • Houses for sale
  • Magic bricks
  • Housing
  • Home Finder

Revenue model

Subscription fees – The revenue model of a property listing website is channeled through brokers. Most websites provide a subscription model to the broker who wants to list their property on the portal. This model allows the broker to list as many properties they want under a certain package which also gives an extra advantage to the website owner as they get a comprehensive list of properties.

Featured Listing – Another easy way to add revenue is by providing feature listing option to brokers as well as individuals. Those sellers who wish to make a quick sale can brand their property on the homepage of the website. Brokers, as well as individuals, will get attracted to this revenue model as listing your property on the homepage of the website can attract a lot of buyers on the property and drive sales.

Secondary revenue stream

  • Personalized assistance to help you find and manage relevant buyers for your property.
  • Know the right price of the property from an expert
  • Expert guidance on all property related issue from experts in astrology.
  • Speak to a legal attorney for all legal advice on property matters such as purchase/lease/rent, property tax, legal advice, property disputes

These revenue models can bring maximum benefits and can be used for different type of users

  • Individuals
  • Agent or Brokers
  • Builders

Critical features

Go beyond just high-quality images– One of the essential features is to have high-quality pictures on your website. When a customer has to choose if they like a specific property or not, it is through pictures. The website owner has to be very careful about pictures while screening a listing by brokers or individual.

Today, even high-resolution pictures are not enough to convince a potential customer. Many property listing websites are providing 3D view and virtual tours of properties. Website owners also need to optimize images strategically to drive traffic without reducing the website’s loading speed.

Highlight the USP of every property– It is very important that you paint a picture for potential buyers. Include as many details about the flooring, appliances, equipment, etc. Writing a description is the best way to depict in a paragraph about the neighborhood and location which cannot be covered in a picture of the property. For a buyer to make the final decision about the property they surely need to know the details about the neighborhood.

Testimonials– There is nothing better than a user’s review & testimonial to generate potential customer’s confidence on your service. Most property portals include a testimonial on the homepage of the website to grab the attention of users. Incorporating videos from a user on the homepage of the website can yield better results than written testimonials.

Property value calculation The broker has full knowledge of the market trends and the prices of property, but when an individual sells the property on such portal they need some guidance as to how much their property is worth in the current market.

Home loans The property listing owner needs to realize that not everyone has enough funds to buy a dream property. So the listing website should have tie-ups with banks which can provide home loans to the customer easily.

Talk to an expert– There are a lot of confusions when it comes to selecting the perfect property you want to buy or while selling your own property. Queries about property tax, legal documents, property disputes, etc. An expert can be provided by the property listing website to give guidance to the seller or buyer. This will help clear confusion and result in more people listing and search for property on your website.

Have a look at the Business Model Canvas below to know the various components involved in setting up an online property listing website.

Real Estate Website CM

Recommended Read: Your Real Estate Website is a Failure without These Design Elements

Conclusion

In a technology-driven world, people prefer shortlisting property online and eliminate those properties which are not in accordance with their needs. To save the time and efforts of visiting every property and later selecting the best out of the list, people prefer searching for the property online.

Property listing website may not be a new business idea but after checking and analyzing the market trend, it has a secure and promising future. Those who are planning to start a property listing website, there is a huge scope. Entrepreneurs need to keep in mind the latest technology and tactics involved in building a formidable real estate listing website. The above-mentioned points will help you stay informed about the latest trends.

Online Food Ordering Marketplace: What Makes It a Good Business Idea & Future Opportunities

Online Food Ordering Marketplace: What Makes It a Good Business Idea & Future Opportunities

Here in this post, we will do a quick rundown on:

Online food ordering & delivery marketplace has been a promising business idea from the start. And it is evident from the success of the first generation of online food ordering startups like FoodPanda, GrubHub, Eat24, and others. However, amid the torrent of new online business ideas, which are sprouting all over the web, the sector hasn’t received the attention it deserves from aspiring entrepreneurs. As a result, many parts of it still remain unexplored.

Take the travel industry for instance, where the online penetration is 40%. In comparison, for food delivery industry, it sits only at 5%. For the travel industry, future opportunities lie with service enhancement through new technologies. But for food ordering & delivery industry, opportunities are right under the nose; just waiting to be tapped.

How do Online Food Ordering Marketplaces work?

Online food ordering marketplaces are primarily based on the “aggregator business model” in which the business owner earns revenue through service commission. So basically, they provide a centralized hub where all the restaurants & other food outlets of the target market are listed for customers to order from.

Here is a stepwise snapshot of how things work in online food ordering marketplace:

1. Customers explore the portal for cuisines & listed restaurants

YoYumm food ordering search

2. Customers place the order along with delivery details & make payment

YoYumm Food Order Placement

3. Marketplace owner cuts commission & routes order to restaurant for delivery

4. Order is delivered  by the restaurant or a 3rd party delivery service

Let’s check the detailed business model of a food delivery business.

online-food-ordering-portal-business-model

Why Online Food Ordering Marketplaces Work?

People’s life is getting busier with every passing moment; especially in the metropolitan & surrounding areas. To keep up with the hectic schedule, they need quick, reliable, & anytime-anywhere assistance for various day-to-day tasks.

Like they need Uber to hail cabs & TaskRabbit to find technicians, they need a service like FoodPanda to fill their appetite; especially, when they don’t have time & energy to cook at home or go to restaurants.

And as to why a 3rd party aggregator & not restaurant’s own ordering & delivery service; well, the reasons are obvious:

a) It is easier for customers to visit a single marketplace website (or install the app) instead of visiting websites (or installing apps) of every restaurant chain in the area. To get some perspective, imagine downloading apps of different online retailers on your phone instead of just one single Amazon app.

b) With a marketplace, customers have more options & it becomes easier to explore all the restaurants & cuisines available in the area.

food ordering system restaurants

c) Price comparison, reviews & rating for quality assurance, etc. are some other reasons why the concept of 3rd party online food ordering & delivery aggregators gels up well with customers

Where do Online Food Ordering Marketplaces work?

Potential markets are forming outside metropolitan areas

Historically, food ordering & delivery service (even when done over the phone) has been limited to urban areas, where there is high population density & demand. But with increasing internet penetration & rapid smartphone adoption, semi-urban & rural areas (in developed countries) have also become potential market segments for this sector.

In emerging markets like India, China, Latin America & South-east Asia, tier-II & tier-III cities offer the new market opportunities.

Going Hyperlocal will enable startups to stand against big players

FoodPanda already boasts its presence in hundreds of cities in Europe, Middle-east, South, and South-east Asia. GrubHub also has a very solid presence in the US & UK markets. Similarly, there are other big players with a very good reach in their target markets.

So, what’s left for new players of such markets is – targeting hyper-local segments with their online food ordering & delivery venture. Being local, you could have the advantage of understanding customers’ needs from customer’s perspective, not from just business’s perspective. Once your startup clicks well with the local audience, business expansion becomes rather a matter of time.

Areas with scope for service enhancement

A recent survey, which was taken over a period of 6 months, revealed some of the major roadblocks in the way of mass adoption of online food ordering & delivery services.

Reasons for not ordering food

Image: Major reasons that keep customers from ordering food online

For new players, these challenges also represent growth opportunities. By opening themselves to latest technological advancements, new players can work upon improving the delivery, packaging, and customer service to address many of these challenges and make their mark in the industry.

Ideal Solution to Build Food Ordering Website

The reach of the internet is increasing wildly, even outside the cities. The number of working millennial, who are willing to spend for convenience, is also on the rise. It is evident everywhere that the food ordering & delivery sector has a huge scope for online penetration. The market is almost demanding the emergence of more startups like FoodPanda & Grubhub all across the globe.

Aspiring entrepreneurs must capitalize on the current dynamics to give people what they want; and also commence a thriving startup in the process. To accelerate the growth of this potential sector, FATbit Technologies also offers a turnkey solution, named YoYumm, to quickly set up online food ordering portals.

Those keen on entering this booming sector can reach out to us to learn more about our online food ordering system.

Start Your Online Business With These Ready-Made Ecommerce Systems

Start Your Online Business With These Ready-Made Ecommerce Systems

There are many successful online businesses that act as prototype for new startups. And yet, it is a challenging task to start an ecommerce business, considering the cost of planning and developing an ecommerce platform from scratch. The changing dynamics in the ecommerce industry and the technical expertise required in building an ecommerce website is another roadblock hindering the startup dream of aspiring entrepreneurs.

In order to ensure that the startup journey goes without any hurdles, choosing a ready-made ecommerce software for setting up an online business is the wisest decision any entrepreneur can take.

However, with so many readymade eCommerce solutionsavailable, finding the best ecommerce platform for startups is complicated. Moreover, choosing an ecommerce solution that boasts of being “jack of all trades” is not ideal. Each business has a different need, therefore one must choose a dedicated ecommerce solution catering to that business.
Make sure the eCommerce platform that you choose:

  • meets your business needs
  • is customizable (So that you can make changes as per changing market scenarios)
  • is SEO friendly (You want your ecommerce website to show in search results, don’t you?)
  • is easy to manage

To make the overall process of choosing the best ecommerce platform easy for entrepreneurs, we have curated this list of few ready to launch systems catering to the popular ecommerce sectors:

1. Yo!Kart

This award winning multivendor ecommerce system is ideal for setting up an online store for apparels, electronics, personal care products, home appliances and digital products.

Loaded with marketing, payment, product management and reporting features, Yo!Kart offers everything that is necessary to make an online store a successful online business. Some of the features of Yo!Kart includes – multiple payment gateways, PPC Module Integration, fully customizable script, SEO ready website, blog integration, smart product recommendations and sales tracking & reporting.

By paying a one-time fee of $250 for Yo!Kart startup package, you can turn your entrepreneurial dreams of launching an ecommerce marketplace like Amazon and eBay into reality.

YoKart Demo

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2. Growcer

Want to be the next big thing in the online grocery business and compete with the biggies like FreshDirect, Ocado, Grofers or Walmart? You will definitely need Growcer- grocery supermarket store software.

Brilliantly coded with features like cart Sharing, delivery slot management, and customer wishlist, Growcer is apt for handling online grocery business. The dedicated admin area makes order management a hassle-free process giving full control to the website owner to accept/reject customer orders.

To help business owners take strategic decisions, Growcer offers in-built analytical tools to track sales, the number of online customers, traffic source etc. Overall Growcer is a powerful ecommerce platform for starting an online grocery website.

Growcer Demo

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3. FunAway

FunAway is a fully customizable travel activity marketplace system catering to the needs of entrepreneurs who want to make their mark in the online travel industry.  With features like calendar management, map integration, social media integration, sophisticated user and booking management it is very easy to manage and handle travel bookings with FunAway.

FunAway takes into account all the crucial features required for front end users (Travelers), Host (Travel Agents/Merchants) and Admin (Website Owner).

Funaway Demo

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4. YoYumm

Those thinking of starting an online food business should definitely go for Yo!Yumm. It is an online food ordering and delivery portal builder known among the enterprise ecommerce platforms for its amazing features like intelligent order management system competent to handle any number of food orders and deliveries.

With distinct features like review management, delivery slot management, SMS integration and Discount coupon management, Yo!Yumm surely has an edge over other online food ordering platforms.

YoYumm Demo

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5. VivoGigs

VivoGigs is a result of the growing demand for an online gigs marketplace. Focusing on bringing event planners/organizers and artists/performers at one place, VivoGigs is known for its useful features such as location mapping, easy gigs posting, power search, review and ratings, and many more.

VivoGigs just doesn’t stop there, for it is a comprehensive system that lets you launch your business in the most efficient manner without burning a hole in your pocket.

VivoGigs_homepage


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6. Yo!Care

Building a care services marketplaces has become a walk in the park for aspiring entrepreneurs with YoCare. It is a revolutionary solution, offering secure wallet, Map based job search, Easy job management, advance reports and appointment calendar.

It has been carefully crafted keeping in mind all the key features vital for service seeker, service provider, and website owner. YoCare is also mobile friendly meaning an online care services marketplace built using YoCare would easily run on any screen.

7. Stitch

Custom clothing is the latest fad among millennials, and what better than en-cashing this opportunity with an online custom tailoring platform powered by Stitch.

The inbuilt product customization feature which helps buyers (front end users) customize the products as per their style and requirements, makes Stitch a popular choice amongst those who wish to start a custom tailoring website.

This custom clothing platform is powered by a highly customizable CMS, which means you can manage the complete website without any help of a developer.

Social media integration, discount coupon management, email notification, multiple payment options and blog integration are some of the Stitch features which can take the custom clothing business a long way.

Stitch Demo

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Conclusion

Readymade ecommerce solutions have made it easy for anyone to launch their own startup. The solutions mentioned in this post have the potential to convert an idea into a successful startup. For those entrepreneurs who want to live their startup dream and launch their own ecommerce store, there is no better proposition than those mentioned here.

5 Creative Ways to Repurpose Your Content on Social Media

5 Creative Ways to Repurpose Your Content on Social Media

Creating a steady flow of fresh content can often be a daunting task for SMEs with limited resources. To counter that, many businesses used to republish their content across different platforms to increase its reach. But in the current market dynamics, it is no longer an ideal solution. The best way forward is to re-purpose content.

Unlike content republishing, which is basically publishing the same content on different web platforms, content re-purposing involves reusing a piece of content in different ways, across different marketing channels. When re-purposing content, you give a previously written piece of content a new look & feel as per the nature & audience of the targeted channel. It not only allows your content to reach the maximum target audience, but also helps in bringing more traffic to your website.

With over 2 billion monthly active users across different social networks, social media certainly offers a very appealing platform to repurpose your content. But before we discuss different ways to repurpose content on social media, let’s quickly wrap up few important questions in that regard.

Questions to ask before planning content re-purposing:

a) Can I re-purpose all old blog content?
No. Just like recycling old clothes, only focus on the content that is akin to the current trends. Don’t re-purpose articles whose information has become redundant due to new technologies.

b) Should I re-purpose only that content which earlier obtained good traction?
Don’t get affected by this misconception. Whether a content piece performed well earlier or not, if you think it is something valuable for your target audience, do re-purpose it.

c) Can I also re-purpose a new blog post?
Of course, Yes. New content ideas don’t happen all the time. If you have written something valuable, go ahead and re-purpose it across multiple channels.

Now, let’s discuss different ways you can re-purpose your content across different social networks.

Create a Presentation

Visual content creates better engagement. So, one of the best & easiest ways to re-purpose content is creating a presentation based on it. Extract the main points of an article, place them in presentation slides in bullet points, and share it on websites like SlideShare & Scribd.

Not only does it allow same content to bring traffic from different channels but also make it easier for readers to consume information – by converting 15-20 minutes long blog into 2-5 minutes crisp slideshow.

For example, recently, we wrote an article on conversion rate optimization. In order to increase its reach and better targeting, we re-purposed it by creating & publishing a presentation on SlideShare, highlighting its key points. In return, it brought us substantial traffic and better leads.

Re-post infographic on social media websites

Most of the bloggers like to share their articles on social media websites like Facebook, Twitter, and LinkedIn. Although it is a good practice, social media nowadays is all about quick reactions.

Users on social networks these days prefer rich media rather than links to articles in their timeline. The best content repurposing approach in that sense is to create an infographic based on the data & points mentioned in the article and share it across relevant social networks; including Visual.ly, Flickr, Scribd, and SlideShare.

Infographics are considered as one of the best ways to share any form of information, as they allow brands to engage and convert better. Additionally, you can also share the infographic on your blog. Just make sure there’s some time gap between posting the original article and the infographic.

Re-share on social media using different titles

One cannot argue with the importance of headlines/ titles for any type of article. It is the first point of interaction between a reader and the article itself and pretty much makes or breaks the engagement for your content.

As a content creator, you must know that creating headlines sometimes can be a headache; especially, when you’re trying to target every segment of the target audience, equally. And it is quite possible that a certain title clicks with one segment but not the other.

Repurposing content allows you to achieve that feat with a single content piece. Create different titles for the post you are planning to share on social media. These titles can be based on different ideas or simply focused on different target audience segments; thus, will allow you target a wider user base with equal effectiveness.

Create separate social updates based on individual sections in the post

A blog post usually contains several sections, data points, ideas, & thoughts. These individual sections of a blog post are based on a unique idea or address a distinct query, which can be re-used as specifically targeted social media updates.

For example, we recently covered an article on online food ordering industry opportunities and are creating social updates on different data points mentioned in the post. Here is one:

With low #Online penetration, #food ordering sector is full of #opportunities for #entrepreneur https://t.co/0j0i6xxqFS… #OnlineBusiness pic.twitter.com/fjoLWm7MqB

— FATbit Technologies (@FATbit_Tech) July 5, 2017

Apart from that, we also share snippets of our long blog posts on LinkedIn, Medium, WordPress, Tumblr, and other such content sharing platforms. And over the years, sharing such snippets has greatly helped us in bringing more traffic to our website.

Article plugging in Forums, Comments and Q/A

The main purpose of your blog posts is to offer information about a particular topic. So, plugging your article in online discussion forums, Q&A Websites, and comments makes perfect sense. However, this is not as simple as it sounds like.

First, you must adhere to the rules of that online community and not just spam them with links to your articles. The right approach is to – first, start a conversation, then discuss their queries, and finally mention your article as a solution.

If done properly, the chances of conversion increase exponentially through this approach. There are numerous websites to experiment with this like Quora, Reddit, and even Facebook & Twitter. Just look for users having queries related to what your content talks about and help them through your article.

Conclusion

In the current content climate, just publishing an article is not considered ideal. You need to get out of your bubble and get your content in front of your target audience. It is generally said if your readers are not coming to your blog, then you should take your blog to your readers.

The best part about content re-purposing is that you do not need to work upon a new idea from scratch. By using these re-purposing strategies on social media you can easily increase the reach of your content.

Make Your Website 2019 Ready with Latest Design & Technology Trends

Make Your Website 2019 Ready with Latest Design & Technology Trends

Technology, design standards, and business trends change over time. And adapting to these changes is crucial for your business. It ensures that your website continues to meet your customers’ expectations and also reflects your brand image precisely. So, it is critical that your website gets a redesign once every few years.

In long run, a legacy website design can have many negative impacts on your business – lower conversion, higher customer acquisition cost, declining sales, and so on.

Change can be difficult. But if it brings higher ROI, it is worth it. That’s why even established brands like Google (search results page), Facebook, LinkedIn, and others, never shy out from giving their website a fresh look from time to time.

Here in this post, we will briefly explain 6 reasons (3 focused on the frontend, 3 on the backend) why your website needs a redesign for a seamless business growth.

Front-end Reasons: To Deliver Better User Experience

Your Website Design Is Not in Sync with Latest Design Trends

Website design trends change every few years. Trends that are widely adopted, implant patterns in user’s mind, which consequently make websites (based on those design trends) naturally intuitive to users.

For instance, material design & flat design are two of the most popular design trends that many businesses are adopting these days. Over the past couple of years, most online users too have become quite used to them.

Like it or not, with a clunky design, your website would look outdated, so would your business. Consequently, you will have a hard time acquiring new customers, even if your product is really great & valuable.

Suggested Read: 8 Trending Website Design Patterns for Online Businesses

Your Website Design Doesn’t Accurately Reflect Your Brand Image

Businesses constantly look for ways to get ahead of the competition – sometimes through a new service, a new product, or even a new vertical. So the shift in business focus is inevitable for every organization, large or small. Since your website is the online face of your business, it must accurately depict the essence of your brand at any given point of time.

For instance, over the years, FATbit’s service spectrum has evolved constantly based on industry’s requirements (from website design & development to internet marketing services, and now to turnkey ecommerce solutions for startups) and so have our website design – to ensure it conveys the right brand message.

Website Homepage Design

Also, notice that our current website design also follows the latest website design trend (flat).

Your Website Is Still Not Optimized for Mobile

Targeting mobile audience is on the mind of every business; yet, it is surprising to see that thousands of websites still do not have a responsive design. And even if responsive, then offer very bad & cluttered user experience on mobile devices.

Mobile friendly website

In 2015, Google rolled out the Mobilegeddon update to ensure only mobile-friendly websites appear in mobile search results. Last year, the search engine giant also announced that 60% of searches happen on mobile devices, and is also in the process of implementing mobile-first website indexing.

Mobile friendly website

Therefore, ensuring that your website’s responsive design works flawlessly on a mobile platform is in the best interests of your business – whether we talk about customer experience or search engine ranking.

Back-end Reasons: For Better Operational Efficiency

Your Website Is Not Built with Latest Technology

One human year is considered equal to several internet years. This means that the technology moves a lot faster and changes very often. A trending technology or design can soon become redundant in the near future.  It gives us the idea how fast the technology is progressing; and how outdated your website might become if you don’t redesign it.

Website security, page load speed, code efficiency, outdated plugins, or outdated framework with respect to plugins you need to use – there are many reasons to upgrade the technology used by your website.

Newer technology frameworks are advanced in all forms. For example, the option to merge & compress JS & CSS files is available by default, which reduces website speed significantly. For security purposes, the option to use token for username & password, shield against SSL injections, etc. are also taken care of with the latest technology.

website technology

And on top of it all, with today’s technology, scaling & customizing websites have become much easier.

Related Read: Improve Page Speed: Tips & Online Tools Recommendations from Pro Developers

Your Website Is Not Based on a Flexible CMS

Most websites (especially business websites) require content updates from time to time. In older days, webmasters had to depend on technical team for every bit of content update. But then the concept of CMS (Content Management System) arrived to give web owners much better control over their website content updates.

CMS

Over the years, CMSs have become more advanced, and today webmasters can make various content updates – manage text, graphics, forms, popups, etc. – quite efficiently.

If your website is still based on an outdated content management system, you are pointlessly wasting resources (including skilled human resources) on rather mundane tasks. This, consequently, results in higher operational cost, which you can easily reduce.

Your Website Is Not Built on an SEO-friendly Platform

SEO friendly

Besides easy content updates, content management systems also play a crucial role in deciding how much & how easily your website can be optimized for search engines. For businesses that operate online or rely on online presence for customer acquisition, this should be a prime concern.Websites that are built on a readymade template but require dynamic URLs can benefit significantly from a design update with an advanced CMS.

Some other areas that must be checked to ensure the SEO-friendliness of the platform include – manageable Meta details, the scope for breadcrumbs, text-based navigation, sitemap, site search, duplicate content management, and redirection.

Conclusion

It’s a tough, competitive business world out there. To stand strong against the competition, you need to make sure that your business doesn’t miss out on anything crucial. While offering great products & services should definitely be your prime concern, you shouldn’t overlook your website’s performance.

All in all, a timely website redesign is like doing your homework – to ensure that you are on a good footing in the market when it comes to operational efficiency and delivering customers a rich experience. Beyond that, the value your product can take care of the rest.

Maximize Earnings of Your Travel Booking Marketplace with These Proven Revenue Sources

Maximize Earnings of Your Travel Booking Marketplace with These Proven Revenue Sources

Traveling not only comes across as one of the most sought after activities, but it also happens to be a top passion among people. It is because of people’s love for traveling that a plethora of travel booking companies are flooding in the market.

Online travel booking & sales are on constant rise (and will continue to increase in the near future). So, it is high time to start an online travel marketplace of your own. But in order to assure a seamless growth of your business, its revenue model must be in place.

Brainstorming over the sources of revenue isn’t just about increasing the profit margins. It is also about having access to sufficient resources to continuously improve your service and customer experience to always have the upper hand over the competition.

So, once you have a great travel activity booking website ready, then it is time to work upon its revenue model to get your share of the golden egg. To assist you with that, here FATbit experts share 5 sound revenue channels that your online travel booking business can make money from.

Commission on each booking

Commissions have been by far the most traditional method to generate revenue for marketplaces where they act as an intermediary between service seekers & service providers.

In a commission based pricing model, you get to enjoy lucrative revenue as the tour operators & travel activity hosts get plentiful of bookings. Implementing this pricing model works wonders when you have a lot of providers in your portfolio.

However, if you have a small number of providers in the beginning and they are not able to get enough bookings; your commissions may not be as amazing as you thought, which brings us to a subscription based pricing model.

Also Read: Business Model & Website Feature Analysis for Travel Booking Portals

Subscription Fee for business listing

Subscription based revenue model is a relatively new concept, which surfaced with the evolution of ecommerce sector.

In case of subscription model, tour operators get listed on your marketplace for a fixed period of time in exchange of a fixed fee (monthly or yearly). The benefit of this pricing model is – it doesn’t matter how tour operators are performing on your marketplace, you’ve got your back covered with a fixed monthly/yearly source of revenue through subscription fee.

So, depending on the nature and size of the participating vendors and your own venture, you can choose to go for commissions or subscription fee.

Display advertisements of related businesses

The world of advertisements needs no introduction to a business owner. We all know how effective marketing and advertising are for making people aware of your business.

Since the core of your business happens to be the travel industry, it becomes a logical choice to post ads of hotels, restaurants and other travel related businesses on your webpage.

Expert tip:Pay special attention to the placements and relevance of the ad on yourwebsite. You can’t show a Thai hotel to a person traveling to Munich. Not only would it screw the user experience for the end customer, but also affect advertisers’ trust in your platform.

On-site promotion for tour operators

As your marketplace begins to become more and more popular, some additional revenue options open up to you. With a mass of hotels and activity providers active on your website, you can easily entice them to get their listing highlighted, in exchange of an additional fee.

Implementing this revenue channel is simple as it works pretty much like the PPC advertisements on Google search results. You can create a ‘premium/featured vendors’ section for the search result pages of your website to highlight the paid listing. This section can appear in a side panel or at the bottom of the results.

Recommended Reading: How to Connect with Tour Operators for Your Travel Activity Booking Marketplace

Selling merchandise

Going on a trip also means that travelers may need to buy particular travel gears. It could be tent, ropes, shoes, hat, and so on.

To address this need of your website visitors, you can embed a shopping cart module with your travel activity marketplace. Now, they may need that gear just once (such as tent & ropes), or may plan to use it again and again. So, make sure that your shopping cart module also comes with a renting feature.

Traveling also brings along shopping, sometimes a lot of it. Be smart and invest in a good ecommerce plug-in.Additionally, since this method clearly needs a technological maneuver, it is suggested to consult ecommerce experts before commencing the process.

Conclusion:

Ultimately, it all boils down to this: people love to travel, and as the time moves ahead, we find ourselves on a shorter leash. So it tends to be a reasonable decision to do all the bookings and stuff before actually reaching your destination.

As a travel activity marketplace, you are at the common ground where the demand and supply chain connect.So, you need to know how to capitalize upon that fact.Try the above mentioned methods for revenue generation; use several permutations and combinations to see which works best for your business.