Video Marketing Guide For Brands to Survive on Social Media in 2019

Video Marketing Guide For Brands to Survive on Social Media in 2019

There is no denying the fact that videos these days are the best type of content to grab audience attention online. Not just a trend, it is one of the most prolific ways to enhance brand awareness and get all kinds of benefits (social traffic, leads, etc.) on Facebook, Instagram, Snapchat, and Twitter. There are many more facts  that testify the popularity of  this widely held form of content marketing (few can be seen below)

  • YouTube: More than 500 billion views each day
  • Facebook: Around 500 million users watch Facebook videos
  • Twitter: 82% of users watch video content
  • Snapchat: 10 billion video views every single day

Knowing that every business is either investing a huge amount or planning to invest soon in social media marketing (specifically videos), we want you to understand  few things, like,

what kind of videos work on different social media network?

what is the ideal video length, aspect ratio, etc.?

and, where all it begins and leads to?

Let’s begin to know how video marketing works on YouTube

YouTube Videos

According to a report by fortune lords in 2017, Almost 5 billion videos are watched on YouTube every single day. YouTube is one of the best video marketing platforms for business to gain popularity with very little effort. Simply create a YouTube channel via your Google account and you are ready to start. Experiment with DIY videos, Video tutorials, Video Testimonials, Explainer videos, Behind the Scenes, etc., as YouTube is a platform where you can share and experiment with different type of brand-related videos.

We all are aware of the prominence of YouTube advertising. There are two possible ways to create an advertisement a) creating video advertisements that run before a video, or b) creating annotation ads that appear as a sticker on an in-play video.

Keep  Mobile Users In Mind

While marketing on YouTube, Remember the fact that more than 60% of videos are watched on mobile devices. Be aware of the tools and techniques at your disposal for better engagement for mobile viewers. Such as, YouTube recently released features for its mobile app that allows viewers to view a video in portrait mode, along with an adjustable aspect ratio.

Ideal Specifications:

  • Length: Up to 5 minutes
  • Aspect ratio: 16:9

FATbit recommends:

  1. The best place to add a CTA to a YouTube video is around 0:30 Second.
  2. The most viewed videos on YouTube are 10 times longer than most viewed videos on Facebook.
  3. Try keeping the video ad before the actual video short and engaging to attract maximum clicks.

Facebook Videos

Recollect the last time you logged into Facebook, remember the number of video content that you saw on you news feed? There were numerous of them, right?

Facebook has been making efforts to bring up video content on users’ news feed from quite some time now. This encourages marketers to create more videos so they naturally get more organic reach.

What kind of content to create? Brands can create content according to the product/service they are selling but make sure you keep in mind the audience that you are targeting. Some of the ways to entice viewers are by creating funny videos, DIY tips, Promotional videos, Unboxing video, etc. Video content on Facebook gathers a lot of interaction such as likes, comments, shares, and most importantly, views. Remember,once you upload a video, interact with the viewers on the post to boost engagement.

Live video feature

Live Video is an effort for brands to make real time video. The main aim of creating a video is to market your brand to a larger audience. Plan your live video with a lot of latest tactics and go live when your maximum audience is online. Live video is a great marketing tactic as it drops the corporate veil between the brand & customers while establishing a human connection at the same time. Some of the ways to let the audience know you is by showing behind the scenes of an event, releasing a product, etc.

Ideal specifications:

  • Length: 1 min
  • Aspect ratio: Standard widescreen aspect ratio

FATbit Recommends:

  1. Engage the audience in first 3 seconds of the video.
  2. Attract the audience by a compelling caption.
  3. Due to the default setting of Facebook, 85% of Facebook videos are watched without sound. So make sure your video is self-explanatory without sound too.

Also Read: Unique social media marketing tips by experts to increase sales of online store

Instagram Videos

As of October 2017, Instagram has more than 700 million active users. Many brands have already understood the marketing benefits of the platform which is why they are mostly active on Instagram.

According to a study by Iconosquare in 2015, 70% Instagram users have already searched for their favorite brand on the platform whereas 62% follow a brand on Instagram because they like it. By these stats we have come to conclusion that most Instagrammers are shoppers.

The best way to market on Instagram is by uploading the right video. Easy trick to make your consumers engage with your brand is by easily letting them know about you instead of the old-fashioned hard sales pitch. Brands should focus their resources in showcasing products in a creative way. Other than sharing videos, brands can create video ads, which are displayed amid Instagram organic feed and have a good engagement rate. For the above mentioned reasons, Instagram has become an effective social media marketing channels for SMEs.

Instagram Stories

We are all now aware of stories concept, these 10-second pictures/video clips placed at the top of Instagram feeds have proven to be a very effective marketing tool since a past few months. The short life of stories tends to create a sense of urgency among the audience, which if used correctly by brands can gain immense popularity. Stories can be used by offering something exclusive to the audience, showing the audience behind the scene, product in action, a countdown to an event, or influence marketing.

Ideal Specifications:

  • Length: 30 seconds to 1 minute (10 seconds for stories)
  • Aspect ratio: Widescreen/ 1:1 (Portrait mode for stories)

FATbit Recommends:

  1. Add hashtags in the caption. Adding at least one hashtag to the caption leads to 12% more engagement. You can also use hashtags in comments section.
  2. Think Creative. Use Third party tools such as Boomerang, Layout, etc. for Instagram capture and don’t shy away from using filters.

Snapchat Videos

Since its release, Snapchat has brought many features that have given rise to innovative social media trends that are changing the digital marketing trends. Snapchat is a real-time social media marketing platform, Snapchat provides users direct access to live events.

Most of Snapchat users like to engage due to the FOMO effect (Fear of Missing Out), which is the reason why 173 million users use Snapchat on daily basis. Brands and marketers are using this platform to its full potential.

There are a lot of ways to use Snapchat for marketing. All of its innovative features such as filters, text, emojis, bitmojis, geofilters, etc. bring a twist in the marketing and help create better engagement.

Brands can easily use Snapchat to record videos of launches, events, trade shows and concerts. Brands can easily leverage Snapchat to showcase some private or behind the scene content which will provide something unique to Snapchat followers.

Ideal Specifications:

  • Length: 10 Seconds (though you can now record and post back to back videos upto 60 seconds)
  • Aspect Ratio: 18:9 (preferably vertical)

FATbit Recommends:

  1. The First snap video should be very engaging. It has been revealed 22% of viewers bounce after losing interest from the first snap.
  2. It is advised to record videos in vertical format, as users do not prefer to tilt their device to enjoy the content.

Twitter Videos

Twitter is known as a news-based social networking platform, which is why it is very good platform for sharing videos.

A recent report of Twitter depicted, native videos drive more engagement than third party videos shared on Twitter. Figuratively, 2.5X replies, 2.8 X retweets and 1.9X favorites. Most people visit twitter to stay updated with latest trends & events and prefer video format for it.

Twitter videos can be best used to release teasers, announcements of upcoming events, release a news, advertisement, respond to review, promote a product/service, educate, sharing user-generated content, and a lot more. As twitter-feed is scrolled fast, it is important for brands to create an eye-catching and highly engaging video content.

Missing Spot on Twitter App: An Embedded Camera

Given the extent of twitter being used for sharing videos, it is high time that its mobile app starts offering an in-app camera to enhance the user experience & to further accelerate the growth of video content.

Ideal Specifications:

  • Length: 30 seconds to 1 minute
  • Aspect ratio: 2.39:1

FATbit Recommends

  1. Adopt mobile-first approach as 90% of videos are watched on mobile devices.
  2. Focus you video content on branding and information and not promotion as primarily users visit twitter for information.

Also Read: 6 creative ways to promote your product on social media

Final Thoughts

The above mentioned points clearly prove that video marketing is the best way to engage your audience on social media. Social media videos will evolve, with marketers playing an important role in shaping its future. The call of the hour is that marketers go creative with social media video with the help of various video marketing tools.

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Increase The Conversion Rate Of Your Content Marketing Plan Using These Words

Increase The Conversion Rate Of Your Content Marketing Plan Using These Words

Can one word change the way you feel about doing an action? Can a word result in you taking an action or just ignoring it all together?

There is a term called “clickbaits” on it, which is rampant on social media. Marketers often used enticing headlines and catchy titles to entice users into clicking on a link. It is often said that users would click on a link even if a single word entices them. It is all about creating a connection with the end user and even a single word can do it. Just like how visual content increases conversion rate.

“Join us!”, “Stay Updated”, “Sign up!”, “Subscribe”. are some words akin to a newsletter subscription email that most of the people come across. They all serve a single purpose, enticing consumers to share their email. However every word has a distinct effect on the consumer.

It is a known fact in the content marketing arena that each and every word that you choose can change the outcome of the whole content. The difference between “Join Us” and “Signup” might seem negligible on paper as they hint towards a same action, but it could result in a person enlisting to a newsletter or not.

Must read – How to use big data in content marketing

Single Word

Just take a look at an example:

Car bumps into a pedestrian, injuring the latter.

Car smashes into a pedestrian, injuring the later

Technically both describe a car accident, but paint a different picture in the mind of the reader, just because of a use of a single word.

Recently, social psychologist Ellen Langer did a social experiment, where she asked other users if she can cut the line for using a xerox machine. She used different ways of asking and came up with an interesting analysis.

When she said, “Excuse me, I have five pages. May I use the Xerox machine?”, then 6 out of 10 people said OK. But when she said, “Excuse me, I have five pages. May I use the Xerox machine because I have to make some copies?”, then 9 out of 10 people said OK.

This means just by using “because”, she was able to increase the outcome to positive by more than 50%.

Researchers have found that our brains are hardwired to certain words and act in a particular way when we come across them, so when someone says “hurry”, we automatically feel the need for urgency.

Just take a look at the following picture. Which of the below shape do you think is known as Saluma and which one is called Makarete?

Saluma Makareta

Most of you would have thought the first shape is known as “Saluma”, while the second shape is called “Makarete”. This is because in our brains “Saluma” sounds like something denoted for round and curvy shape, while “Makarete” sounds like a hard and pointy thing.

A single word has the power to change the meaning and motivation. It can surely result in increasing or decreasing your conversion rate. And on social media where exposure of your content is very limited, each word counts.

Now it must be going through your mind that, if a single word can make such a huge difference, then which words should you use?

Let us take a closer look:

Words to be used in any form of content

As already mentioned in this post, directing something at the consumers and offering a reason for it, will surely capture the attention of the consumer. It is a known fact that personalization increases conversion rate, which is why using words like “you” has a positive impact on the consumer.

Suggested Read – How to measure content marketing success

Additionally giving a reason to someone for doing something will ensure that they really do that thing. Important thing to keep in mind is that the reason does not even have to be important. Therefore the words that you should always include in any form of copywriting are:

  • You
  • Because
Want You

Words to be used in Headlines and subject lines

It is often said that most of the consumers only go through the whole content (be it email or article), if they find the headline/subject line interesting or catchy. There you must use words that capture the attention of the users in headlines and subject lines. These include:

  • Introducing
  • Announcing
  • Welcome
  • Unique
  • Breakthrough
  • Surprising
  • Exciting
  • Astounding
  • Amazing
  • Remarkable
  • Revolutionary
  • Startling
  • Magic
  • Miracle
  • Improvement

Words to be used in signup forms and popup messages

When you want to entice someone to signup or subscribe for something, it is always advised to make them feel welcomed or assimilate them. Another way to entice them is show a sense of urgency or exclusivity, which will make them rush into the decision. Such words include:

  • Come along
  • Join
  • Become a member
  • Take a look
  • Hurry
  • Do not miss
  • Just for you

Words to be used for promo codes and offers

Studies have shown that the effect of offers and promotions can be multiplied if you create a sense of urgency. When people see that there is only a limited time available on an offer, they would not think twice before redeeming the offer. Some of the words that you can use are:

  • Limited offer
  • Supplies running out
  • Get them while they last
  • Sale ends soon
  • Today only
  • Only few available
  • Only few left
  • Only available here
  • Double the offer in the next hour only

Words to be used for payment forms, signup forms and testimonials

The fact of the matter is that the content on this page must generate trust factor among the reader, which is why it is crucial to use words like:

  • Authentic
  • Backed
  • Best-selling
  • Cancel Anytime
  • Certified
  • Endorsed
  • Guaranteed
  • Lifetime
  • Moneyback
  • No Obligation
  • No Questions Asked
  • No Risk
  • No Strings Attached
  • Official
  • Privacy Protected
  • Proven
  • Recession-proof
  • Refund
  • Results
  • Secure
  • Tested
  • Try before You Buy
  • Verify
  • Unconditional

Conclusion

Large brands and enterprises have been using such words for a long time for enticing their consumers. Content marketing is an art of using words to your benefit in such a way that it not only reaches the prospective user but also entices them into taking the necessary action.

It is seen time and again that a sentence can alter the emotions of a user if you merely alter a few words. So the next time you create a content marketing plan, incorporate these words for maximum results. Also tell us in comments other words that work wonder for you.

Do Memes Have a Place in Your Visual Communication and Marketing Efforts

Do Memes Have a Place in Your Visual Communication and Marketing Efforts

In many ways, the beauty of memes ultimately comes down to their simplicity. The term itself is merely defined as “a humorous image, video or other piece of content that is copied (often with slight variations) and spread rapidly among Internet users. That’s it – it really doesn’t have to be much more complicated than that.

But the real reason why memes are so effective is because they’re almost impossibly straightforward. The meme format is perfect for taking a single idea and expressing it in a clear, clever way in a format that is perfect for sharing on social media sites like Twitter, Facebook, Instagram and more.

All of which, by the way, happens to be exactly what you’re already trying to do with the types of visual content that you’re creating as marketing collateral.

Also Read: 5 Creative Ways to Repurpose Your Content on Social Media

What’s In a Meme? Turns Out, Quite a Bit

But just how popular are memes as a format? In a word, very. In October of 2016, Google Trends reported that earlier in the year searches for “memes” had literally outpaced searches for “Jesus” – which itself had been the most widely used search term consistently since 2011.

Take a look at some of the following meme-related statistics and see how many of them overlap with the results you’re already trying to generate with your marketing collateral:

  • According to one study, 87% of page interactions on Facebook happen on posts that have photos. Not one of the other types of content receives more than 4% of post interactions.
  • Facebook, Twitter and Pinterest drive most traffic to external websites like your own domain. What they all have in common is the fact that their users value visual content among all other types.
  • YouTube has become a particularly powerful avenue for meme propagation, particularly when it comes to viral videos.

Memes are nothing if not simple, clever, catchy and shareable – basically, all of the boxes you’re already trying to check when you create a piece of content and send it out into the world.

So from that perspective, yes – memes absolutely have a place in your visual communication and marketing efforts. They’re a tool, the same as anything else. It would be a shame not to at least attempt to make use of every last tool in your proverbial tool belt at some point during your day.

Memes are also inherently tricky, however, which is why they also require you to keep a few key things in mind.

The Art of Memes

Art of Meme

Many people look at memes as a purely innocent or creative endeavor, which can make the act of actually using them for something as “business-centric” as marketing somewhat difficult if you don’t approach it from the right situation.

People are willing to put up with a meme being co-opted for marketing purposes provided that you’re using the meme correctly. There is no better, more efficient way to find a large group of people laughing at you and not with you than to use a meme in a way that is completely oblivious to its original intention.

Use sites like KnowYourMeme.com to research memes that you’re thinking about using from a few different angles. Not only can this be a quick way to make sure that you “get the joke,” but it’s also a perfect way to see which memes are hot right now and which are far past their expiration date.

Meme culture evolves incredibly quickly, so an image that is popular today may be totally forgotten by the end of the week.

Also Read: 5 Creative Ways to Repurpose Your Content on Social Media

If you’re going to attempt to create a meme and use it as part of your marketing efforts, make sure that A) your intention matches the original joke at the heart of the meme, and B) make sure that you see it as more than just a tool to sell your product or service.

The same is true with the types of Infographics that you create with a tool like Visme (which I founded), but people tend to view Infographics from a bit more of a cynical angle than they do memes.

You would never use something like an Infographic to just visualize your product’s spec sheet and call it a day. You would use it to tell a larger story or to hit at a larger point, creating an emotional response within your audience along the way.

The same is true with the types of presentations that you’re designing – they’re less sales tools, more educational and informational tools.

You need to look at memes from the same perspective. You’re making your own comment about a larger trend and idea not to create a sale, but to provoke a feeling or to start a conversation. Once that conversation has begun, then you can worry about that eventual sale.

Luckily, tools like Visme are also great for creating social media graphics, memes and other types of visual content.

Because memes are just another extension of your visual marketing efforts, you also don’t need to be a graphic designer in order to make the best impression in this format. Take a look at this free eBookthat we designed about how non-designers can create compelling presentations and other types of visual collateral for more information.

Also Read: Gear Up Your Facebook Marketing Game with These Latest Techniques

The Once and Future Meme

The thing that Infographics, presentations and memes all have in common is that they’re a way to make your brand much more approachable to a modern audience. It’s not the equivalent of a cold call or a face-to-face interaction at a trade show and viewing it that way is a recipe for disaster.

It’s a way to tag someone’s joke, or to show people that there are real humans with real sense of humor behind the brand that you’re representing. It’s not the type of thing that is appropriate for every last situation, certainly – but when you do have an idea that would be best expressed in the meme format and you have selected the right meme, it would be a shame not to take advantage of it.

How To Get Your Startup Featured In Media

How To Get Your Startup Featured In Media

For most startups, building an initial reputation is one of the toughest jobs. How to let your prospective customer know about your brand?

During the initial phase you have zero customers, zero followers on social media, zero recognition and very little capital to invest in acquiring new customers. During the initial phase you have to find inexpensive options to create a name for yourself in the market.

One of the best ways to spread your brand name across your niche market is by getting yourself covered in media.

There are plenty of benefits of getting your brand covered in a popular media publication, some of which are: –

  • Increase in brand visibility
  • Easy user acquisition
  • Interest of partners and investors
  • Easier recruitment

Below we have mentioned some tactics to get your startup featured in media/press. Follow the point which align with your business and get your brand recognition.

Throw an Event

Everyone loves to attend a party, Right? Same is the case with reporters. Do not do anything quietly, like a product release, store opening or something big, just throw a party. Invite all the reporters you know of, tell them why attending your event would be helpful – A small investment can result in a big ROI.

The event does not have to be a huge event but just make sure the reporters have a great time. If they do enjoy your event you have reserved yourself a permanent seat in the publications. After the completion, create a press release with details like who, what, where and why. Sent the press release to the reporters who attended the event and otherwise for reference while publishing the post.

Focus on Relation Building

Getting yourself published in the media is a time consuming task. The company should first focus on building relations with the reporters. Do not just randomly build relation with any reporter; make sure they are covering your niche. Once you build a relation with the reporter of your niche, it will help you at a later time. Relation building does not always means giving gifts, talking about their latest vacation or giving them passes for an event can also do the trick.

Remember to be tactful when using this approach as you do not want the reporters to feel you are offering them a bribe. Do not make the relation feel like a transaction. Understand the common interest point and connect with it.

Piggyback on trends

Reporters usually do not cover a brand in their news as it mostly looks like an advertisement. Journalists and media houses prefer to cover news related to latest news or trends. To be covered by media publications make sure that you fit your strategy into the latest theme.

You need to find an empty space in the market and create strategies how your company can fill in the void. Also keep a tab on the latest content marketing trends that will yield your business success.

For example – An ecommerce company that sells beard-related products for men, breadbrand, was able to get themselves featured in New York Times article which was regarding the renaissance of barber shops.

Offer an Exclusive

Like every other sector, media publications also competes among them striving to be the top media house. If you are trying to be published on renowned publications like Wall Street journal, New York Times, Etc., helping them cover an exclusive story.

An exclusive makes sure the publication you are partnering with will break the story before any other publication does. When you offer an exclusive to the publication, make sure you make the most out of it otherwise you will hinder all future opportunities with the publication.

Once the media house you partnered with has released the exclusive, offer a press release to other publications who would be interested in releasing your story.

Get involved in local events

If you want to get yourself published, you need to keep an eye on the local events that you know for sure will catch media attention. Get you brand involved in the event deliberately.

If you want the attention to be towards your brand on the local event make sure you do something different like keeping the staff wearing similar color or making a formal announcement about your presence by a press release. You can also host a local event and invite media personalities to it. This will bring more attention to your brand and help in making your debut in media.

For example- Sign up for a speaker of an industry event or volunteer your staff for charity event.

Further read: Improve your business’s search engine visibility with these local SEO Tips 

Sponsorship

If you want to spend less money and want to market your brand and generate exposure, then one of the best ways is to sponsor events happening in your niche market. This will help you in getting your name out in the market.

If your business is a lead sponsor on a given place, you will get mention in every media channel of that place. For example: – “The Christmas celebration event is brought to you by [Business name]”. Every place where the event is covered, your brand name must tag along; this positive mention will help in gathering attention of potential customers.

 Viral Marketing

Till now we were using the approach where when a news is covered by media it will gain the attention of many others. However if a brand uses viral marketing approach they do not have to approach the media – the media house will want to cover the brand.

Brand has to put in a lot of thought when deciding what their approach is to market their brand. As huge number of people connect and engage with the viral content, the media will want to cover the news automatically.

Paid PR

If you are want yourself to be featured in a media channel but do not have the time or resources to plan the above mentioned points the best thing is to resort to outsourcing the work to a PR firm.

A PR firm has good relations with journalist and media houses and has clearer idea of how to craft your content so that it catches the attention of media.

Over to you

After you have gone through the entire article, you must have understood that getting yourself published in the media is not a daunting task. It just requires understanding of who you are preaching; building relations and analyzing the demographic you are trying to reach.

Keep your focus on your end motive, whether it is selling a product, trying to get investors for your startup or simply grabbing media attention for your business.

P.S: You cannot take a back seat and let press do the wonders and engage people. It is very important that your business is purposeful.

Which Revenue Model Will Be Ideal For Your Online Business?

Which Revenue Model Will Be Ideal For Your Online Business?

Once you are confident about investing in certain business, the first thing to decide is its revenue model. When it comes to online business, the alternatives are immense ranging from freemium to subscription. Many entrepreneurs do not understand initially, but the implication of choosing a revenue model is huge and can basically establish your brand image, and long-term business viability.

The fact of the matter is that you just cannot switch your revenue model at a drop of a hat. You need to be systematic in your approach and ensure that all the parties affected by that revenue model are on board.

One key step in determining the revenue model revolves around identifying the source of your revenue. You can stick to one or choose various revenue streams like,

-Product sales

-Service fees

-Advertising sales

-Data access fees

-License fees or commission

And, more.

Various factors are taken into account when deciding on the most ideal revenue model for an online business.

Another important aspect to keep in mind is that the revenue model that you choose, will eventually affect your business strategy and will be paramount in achieving your financial objectives (profits). There have been several cases in the past where startups have been unable to attain profitability despite having an innovative business model. In most cases, their revenue model was screwed or they did not choose the right one.

Most entrepreneurs believe that a startup should always follow KISS (keep it super simple) principle as consumers are typically wary of complex and artificial pricing. By doing this they tend to hurt their future prospects as well as financial growth. The challenge is to tread the fine line between a simple and complex revenue model that not only offers a fair ROI to you but also is acceptable by the consumer. During the early stages, you need to keep it simple and add multiple channels as you grow.

Suggested Read: Top asset light business models for your online startup

How to structure your revenue model?

There are different scenarios that you need to take into account when deciding which revenue model you should incorporate. These scenarios are directly related to your business model.

  • If you are acting as intermediary connecting buyers as well as sellers, then would you charge a commission on the resulting sale?
  • Will you charge for access to the content or community online in the form of subscription?
  • Will you provide most of the services for free and charge advertisers and marketers who want to target the users?
  • Will you provide your services and products to be used in the exchange of a license fee?
  • Will you use a combination of these revenue models?.

Let us take into account each and every scenario where a revenue model would be successful:

When to choose Global commission type revenue model

This is one of the most widely used revenue models, where marketplace owner charges a commission on every sale made. Aspiring entrepreneurs must opt for such a revenue model when the size of their marketplace is small and the sale is identical across all the categories. Although such a revenue model is most widely used in online retail, yet any other business can can incorporate this revenue model with ease. This is also known as a basic revenue model for online businesses that connect buyers with sellers.

When to choose Category/product commission type revenue model

This is a spinoff of global commission type revenue model, where website owner can individually assign commission based on each category. This type of revenue model is advised in scenarios where some of the categories on your marketplace are doing extremely good, while others are not returning many sales. Normally such a revenue model is applicable for high volume or high-value products or services.

For example, most ecommerce websites have high commission rate of items like electronics and mobiles, and commission rate for household products is low. Such a revenue model is not advised for online businesses like online food ordering and delivery, online care services, or online travel activity marketplace, where there are not high-value categories. The easiest way to implement this revenue model is to determine which categories are most popular on your website and put a higher slab of commission for those categories.

Suggested Read: 30 Psychological Triggers To Keep In Mind While Pricing Your Product

When to choose subscription-based revenue model

There are often scenarios where entrepreneurs tweak their business model in order to stand out of the competition. This is where the subscription based business model comes into play. Online businesses which work on recurring purchases are most suitable for this type of revenue model. One popular example is online cosmetic store or food ordering website.

This revenue model can also be added to any other business model in addition to the commission-based revenue model. For example, an online marketplace can charge sellers subscription fees for the opening of an online store in addition to commission fees on every sale. Also, a peer-to-peer marketplace can work on a subscription-based revenue model for connecting sellers and buyers.

When to choose advertising based revenue model

Although seldom used in ecommerce, this revenue model is the backbone of most of the websites. In the recent past, online businesses have started to test this revenue model to increase the income of their website.

You can offer featured listings for products and services on your platform to sellers on the front page, search and other areas of listing for more traction. However, such a revenue model is only recommended when you have a strong user base and ample sales. For example, you can charge restaurants advertising fees for featuring their outlet on the homepage or as a feature listing.

Suggested Read: Ecommerce business models that will rule in the coming years

When to choose hybrid revenue model

All the above-mentioned revenue models have their own perks in terms of the amount of income being generated. However, as your online business grows, there is a need for a multiple channel approach. This is where a hybrid model comes into action. Such a revenue model is a collaboration of revenue models mentioned above. For example – an ecommerce marketplace can have a subscription revenue model in place where it charges sellers fees for listing products. In addition to it, the website can also charge a commission rate based on categories or products for every sale made. The website can even add a third revenue channel for offering features listings on the website for more traction. It is crucial to note that such an approach is only advised once you have strong hold over the market. Charging sellers at multiple points (subscription, commission, and advertisement) can often alienate them, which is not recommended for a new business. However, once you have captured a good share of the market and have a substantial user base, sellers would be more than welcome for any form of revenue model.

Conclusion

There is no hard and fast rule when it comes to an ideal revenue model. Online businesses need to test the waters themselves and analyze market trends for an ideal revenue model- it all depends on the size of your marketplace.

Early stage online businesses can start with a global commission type and can alter their revenue model as they increase their market cap. Other factors include the type of business model and current market trends. There are several online businesses that started with a subscription-based revenue model but moved on to global commission based revenues model and vice versa. You need to factor in your end users, your hold over the market, and a number of sales being generated to incorporate a certain business model.

The bottom line is that it is not a game show, so there is no need to do any form of guesswork. You should do your research work properly and identify key areas where you can implement a viable revenue model. The fact remains that the life of your online business depends upon it.

You Can Now Follow Hashtags On Instagram- Marketing Alert For Businesses

You Can Now Follow Hashtags On Instagram- Marketing Alert For Businesses

Instagram is a social media platform where a user follows a friend or a brand or an influencer, but it has recently evolved an innovative feature. Users can now follow their favorite hashtag to stay updated with latest posts. Instagram algorithm for selection of post on the homepage will be based on the time and quality of the post.

Insta Hashtags

To follow a hashtag, you simply need to search it in the search bar or tap on the favorite hashtag on one of the posts. You will be redirected to another page where a popup will let you know that now you can follow a particular hashtag. Every hashtag page also has a related hashtag column. This makes it easy to jump to similar hashtag pages and follow them quickly. Check the image below to understand more about Hashtag follow.

This update is not only beneficial for users but also for marketers as brands can plan their social media strategy on Instagram according to an update. Brands can now use Hashtags according to their niche market by analyzing the number of Hashtags already used.

For example, a travel activity business can use Hashtags like Wanderlust, travel bug, etc. as travelers will prefer to follow these hashtags. This will make the post of the brand appear on the homepage of the users easily without spending money on paid marketing.

Note: Brands have to cleverly use these hashtags so extract maximum benefits from it.

Tinder like website for Recruitment- Key Website Features

Candidates/Employers who are on a recruitment website will agree with the statement that hunting for a job/candidate is a full day job. For some recruitment websites every candidate/employer just has to fill in their details and the website will provide a cluttered list of all the candidates/jobs available for the appropriate keyword.

Searching for a job or a perfect candidate requires a lot of time and effort which is not always available. Many people search for a job change while they are already working in an organization. On the other hand, every company does not have the resources to handle recruitment portals.

Since the technology has rapidly revolutionised major sectors, it also has affected the recruitment sector similarly. Now recruitment websites are altering their approach to connect right candidate with the right company.

Recruitment websites have to understand there are two type of candidates:

  • Passive candidates – The candidate who is not searching for an immediate job change but is looking for future job opportunities on the recruitment website.
  • Active candidate – The candidate who is actively looking for a job change and would change their job, if given a good opportunity.

For an entrepreneur looking to build a recruitment portal, it is crucial to cater to both active and passive candidates as well as employers. Here is detailed website analysis of its business model, revenue model and critical features.

Business model

Social recruitment websites have become popular in the current market dynamics. Only few candidates can dedicate their whole day for a job search and only few companies have a dedicated resource to search for a candidate. To avoid overburden of resources, time and effort, social recruitment platforms connect companies with potential employees and vice versa.

Business Model of Online Recruitment Portal

There are two different entities involved in a social recruitment website – job seekers and job givers. The overall process for both includes:

For job seekers

  1. Mention current title
  2. Add details like name, email password
  3. Select the top 5 skills that you possess
  4. Add phone number and work details like full time job, free lancing, if you want to relocate
  5.  Select the city you are currently living in and where do you prefer to work
  6. Then the system personalizes your career options
  7. Easily add resume by uploading a doc. File or linking with LinkedIn profile

For job givers

  1. Register on the website
  2. Mention the company that you are hiring for
  3. Enter your email id and password
  4. Mention the job title you are looking for
  5. Import file for job description
  6. Mention the experience required
  7. Mention the top 3 skills required for this position
  8. List the companies that have the kind of talent you are looking for?
  9. Then the application is submitted to the admin who then approve the request

Revenue Model

Primary Revenue Source  – Commission

The primary revenue model for a social recruitment website is the same as an offline recruitment agency. When a candidate is placed in a company, they cut a certain percentage in accordance to the salary of the employee. The commission is not deducted from the employee salary but is paid by the employer itself.

Secondary revenue source

  • Subscription– A subscription based revenue model is an additional type of revenue model from which social recruitment website can earn revenue. A subscription can be offered to a job giver as well as job seeker. Under the subscription model, users become premium members of the website by which they get special privileges such as premium list of companies, premium list of candidates, free job postings, etc.
  • Advertisement– Advertisement is an extra source of revenue but can yield a lot of revenue for social requirement websites. The fact remains that not everybody on such websites are not actively searching for a job. Many come to just look at new opportunities that might be in the pipeline. Targeting such users can be highly lucrative for companies.

Critical Features

For any online business that relies on crowdsourced data, one of the critical features to have is ease of entering the details. Having a cumbersome process will not only alienate the users, but also negate the whole idea behind such a website.

Entering job and educational details is highly tiresome and most candidates do not prefer to do it. Every social recruitment website should have the feature to let them upload their resume via doc. file or link their social recruiting profile to their LinkedIn profile. The information required can then be directly synced.

For Candidates

  • Filter the options – Though social recruitment websites are usually artificial intelligence based, they find companies according to the preference and past work of the candidate. However candidates can furthermore filter the searches in accordance to their preferences. Filters can include size of company, number of employees, etc.
  • Candidate Types – There are two types of candidates who are looking for job, one who is actively searching for a job and one is looking for opportunities but not ready to shift immediately. As the social recruitment website helps in searching apt companies for apt candidates, they should gather ample information like if the candidate is looking for a job right way or just exploring options for future.
  • Select goal – For the AI system to understand the candidate better they need to understand the goal and preferences of the candidate. Which is why the website should give the candidate features to check their goals for visiting the website, as in what they are looking for. The below image will make the idea clear to you.
  • Connection – Though the social recruitment website keeps you anonymous, you can add your connection from LinkedIn to it. Your connection will not get to know that you have added them and they can vouch for you when you actually reveal your identity.
  • Invite and earn – Ever heard of the term referral program. If a candidate invites his friend to the website, the friend candidate searches for a job and get placed with a company, the original candidate will earn credits.
  • Active/non active profile – For reducing the work of the admin and the company. Employee should be able to activate or deactivate their profile on social recruitment websites. When an employee gets a job through the portal they can easily deactivate their profile so that they do not get any notification regarding matched company.

Also read: Website features of an online dating website

Company

  • Add multiple job openings – Social media recruitment website should have feature that allows one company to add multiple job postings as the company would have multiple requirements. Specific company employees can create their own profiles and add job which will be submitted under the company’s job posting.
  • Separate the candidates that you have shortlisted – Candidates that have been shortlisted for a particular job opening should be segregated differently. Employers do not have the time to filter the employee they have shortlisted again and again from the list of candidate so it is better to have a separate section maintained for them. [As it is anonymous it will be even more difficult to identify the candidate you have shortlisted]
  • Chat with the potential candidates – The resume is not the only factor by which an employer decides a candidate. They want to check the communication skills, confidence, etc. which can only be done by personal chat. This way the employer can understand the preference of the candidate and also judge him/her on the basis of the chat.
  • Manage jobs – In an average size company there can be “n” number of job openings which the company can upload on the social recruitment website. The thing they do not want to get stuck with is tackling the jobs on the website. So the website should have options to easily manage their job postings.
  • Add job description – No two jobs posting of same profile can be the same. While one may require a senior level employee other may require a fresher.

Shortcomings

  • Passive candidate waste valuable time of companies – The passive candidates are the ones who are just looking for job opportunities and do not want to shift from their current job immediately. These candidates are not distinguished on the website so companies would be wasting time to interview and converse with them.
    One of the ways to avoid this disadvantage is by segregating passive candidate from active candidate on the website. Companies who are not looking to enroll a candidate immediately can access the passive candidates.
  • Fake accounts – The main concept is that the person is anonymous which leads to a high rate of fake accounts. To avoid these, the website should ask candidates to register with their mobile number which can be checked by sending an OTP or login with a social media account.

Also read: Feature Analysis of Service professional marketplace

Conclusion

The amount of people looking for a job and the difficult task for employers to search for the perfect candidate leads them to online portals. Recruitment websites have been the main source of recruiting candidate for many organizations but a social recruitment website reduces the efforts of recruiters and candidates. Artificial intelligence is being used to match the perfect candidate with the perfect company.

Market Analysis of an Online Appointment Scheduling Marketplace

There was a time, when you just used to walk down to the nearest salon, wait for your turn to get your haircut. Often you would see a substantial rush, especially on weekends and the wait times will increase further. Same is the case with doctors – you go to the market, wait for your turn and get treated. However, things have changed over the years. There are a couple of issues that consumers often face.

Firstly, finding the right professional has become highly cumbersome and secondly, consumers have much less time and patience to wait for the service to be delivered. The service industry has become highly demanding with consumers wanting exclusive access to service providers.

However, there is a silver lining to this. With internet coming to the forefront, these issues have become more or less redundant. Today, you can buy a movie ticket, flight or train ticket online. But what about your Salon, Spa, Doctor, Dentist, Lawyer, or even your Pet Groomer? On-demand professional search marketplace clubbed with online appointment scheduling system has made it easy for consumers to find relevant service providers as well as fix preferred appointments.

Popular appointment business

Chalk it up to the convenience factor, along with the popularity of online businesses among consumers, launching an online professional marketplace offering appointment scheduling services becomes a lucrative idea.

So if a consumer is looking for an ophthalmologist, they just search for them on an online professional marketplace, go through the reviews of other consumers and select an ideal one suited to them. The consumers can then just book an appointment for a given day and time to ensure least waiting time and get the service they require.

Growing online appointment scheduling market

Studies have shown that global online appointment scheduling market is expected to grow at an annual growth rate of 9.80% in the next five years. What is interesting to note is that Global doctor professional search and appointment market will see a staggering growth of 16.56% during the same period, while that of online legal practice professional market is expected to see a CAGR of 13.71%.

It is clear that online doctor and lawyer search marketplaces are two most lucrative categories when it comes to online professional search marketplace.

Disrupting the online service sector

The fact of the matter is that technology is disrupting the service sector. Rather than availing a service, consumers are now getting inclined towards buying the service before using it.

This is no way different than someone buying a laptop on Amazon. Rather than selling the product, vendors (service professionals) are selling their service. It is a win-win for both service providers and service seekers. While the former is able to connect with clients, the waiting time for the latter is reduced immensely.

Key aspects of an online professional search as well as appointment booking marketplace

While launching an online professional search marketplace, the first and the foremost thing to keep in mind is to target a particular niche. This will help you stand out from the competition and target consumers properly. Also, you need to understand how these marketplaces work. Other key aspects include:

Social media integration – Incorporating social media into your core online business has become crucial for any type of online business. This not only helps your marketplace to grow but also allows users to connect with their friends and family.

Have a mapping system in place – An online professional search marketplace basically revolves around the hyperlocal model, making it crucial to have a mapping system in place, where consumers can easily geo-locate the desired professional on a map.

Search engine friendly – Not only your online professional search marketplace can act as an appointment booking service, but it also acts as a directory of local professionals. Since most of the consumers these days use a search engine to find out about local businesses, a search engine friendly marketplace will boost your traffic immensely.

Review and rating are a must – An online professional search marketplace is incomplete without a reviews and rating system. Consumers often look out for reviews before finalizing a business. Having a rating system in place will make it easy for consumers to make an informed decision.

Easy appointment booking – Appointment scheduling system is the core of an online professional search marketplace. Without it, the marketplace is basically an online directory. Having a booking system that is not only easy to navigate but also books an appointment is essential.

These are just some of the key aspects of an online professional search marketplace. There are several other features are equally important to mobile friendly, secure, user-friendly etc. Yo-Pro is one such turnkey solution to build an online professional search marketplace. It has all the above-mentioned features baked right into it, making it a complete and powerful package.

Guidelines To Develop An Intuitive User Interface For Mobile Application

Mobile applications have become the new medium using which people perform most of their activities. Usually, an app that is feature-rich and eye-catching provides users with the experience they are looking for. The most important thing to be considered while developing a post is the UX and UI of the mobile app.

Before going deeper into creating the mobile app, it is essential to understand the target audience who will most likely be using the app. The features and the user experience will be developed based on the pre-defined target audience.

The design of the mobile app will not matter till you have a perfect interface that heightens the credibility of the app. The interface design is a difficult task in itself as it involves a lot of details. To make the work easy, here are a few points to design an excellent user interface for your mobile application.

App Icon

For a website the homepage throws the first impression on the visitors, while an app icon is the first thing seen by the visitor of the app. The mobile app icon should be able to entice users to download it. One of the major factors behind the failure or success of your app is the design of the icon.

Tips

– Your mobile app will be always competing against dozens of other apps, so use a unique symbol or shape that it instantly recognizable.

– Keep the name of the app small as advised by the rules of the user interface.

Also Read: Journey and future of mobile app development

Graphics

When designing graphics for a mobile app, the designer usually follows the thumb rule “one graphic size for all devices”, which is a wrong approach. No doubt, it reduces the time spent on developing the app but it is very harmful to the visual appeal of the app.

Tips

– Design graphics that are tailored according to the screen of different devices.

– The best graphics ideally load quickly and amount to a pleasant user experience.

Focus on Users

You must be well rehearsed with the target audience that you are planning to cater. Keep an account of all the demographic data your analytical app can trace. You should know the real reasons why they prefer visiting your app and the problem they face with your competitors. This will help you in designing the UI of the mobile app keeping in consideration the pain points of the customers.

Tips

– You can conduct a survey or a face to face interview to know the opinion on the design.

– Design pattern helps us offer a unified experience but that should not be the driving force.

Also Read: Security measures online business should take to keep users data safe.

Full responsive

One of the most important things to keep in mind while designing an app is that the user interface should support every mobile device and tablet. It should be designed in such a manner that every function of the app is usable on multiple devices and operating systems. Whether it is tweaking the media queries, JavaScript or CSS, it is very important to responsibly handle the issues related to the display of the app.

Tips

– Plan your content properly to make the mobile app fully responsive. Make your content more readable and accessible.

– Before you start coding the mobile app, plan the layout. You will be able to understand the look of the mobile app beforehand.

Pay attention to colours

It is very important that you keep subtle animation to transit between screens and the colour that you pick for your mobile app should be chosen wisely. Every colour displays a different meaning and evokes a different emotion, so pick those colours which complement your brand.

wheel-of-emotions

Robert Plutchik’s famous “wheel of emotions”

Tips

– Pick the colour palette that matches your current company colours as your mobile app should look like an extension of your website.

– If there is change in color of button control after click, it means a user action has been performed with a goal in mind.

Keep it simple

Keeping the design simple doesn’t mean adding very few graphics, it simply means when a visitors visit the app for the first time they can use it without any tutorial or instructions. Keep the user interface simple which will allow the users to do the task with simple steps.

For instance

– Using appropriate colours will make the interface simple for the users and will entice the users to download the app and visit the app repeatedly.

High-Resolution Images

Usually people nowadays use a high-tech smartphone which supports high-resolution images. If you are aiming to create a perfect user experience then leave the low-resolution images behind and use intuitive and perfect pictures on the app.

Tips

– Amplify the clarity with high-resolution on the larger screen.

– Vector based images still prove to be effective as they have the power to auto-scale according to the resolution.

Conclusion

The above-mentioned points will help your mobile device give a kick start to your mobile app design process. These tips will help you create an app which is easy to understand and high on usability ladder. As this is the era of mobile application and the market continues to boom, it is essential to learn to create an outstanding user interface that puts across the message you are trying to deliver.

Be a Part of the Food industry: Launch an Online Meal Delivery for Kids’ Website

The online food industry is seeing an exponential growth especially after the rise of innovative business models like online food ordering-delivery, food delivery on train, online meal-kit delivery, online grocery delivery etc. Now a recent business model has taken the food sector by storm.

Online meal delivery for kids takes away the parent’s efforts of planning and preparing meals for their kids which makes this business model popular. For aspiring entrepreneurs who want to become a part of the food industry, starting an online meal delivery service for kids is a good alternative.

For those who want to capitalize on the rising trend, FATbit has provided descriptive details regarding the business model, revenue model and website feature of Online Meal Delivery for kids.

Business Model

Online Meal Delivery for kids’ websites provides parents with a convenient way to get nutritious and delicious food for their kids without any hassles. These websites let the parents choose meals from a menu which is delivered to your doorsteps. Below we have mentioned how things work on these websites.

Business Model- Kids Meal Delivery Portal
  • Parents choose from a list of meals according to the nutrition and taste buds. They mention number of meals in a week i.e. 6 meals per week/ 12 meals per week.
  • Every week a new menu with different meals is displayed. The nutritional value of the meal is displayed alongside.
  • Freshly prepared meal kits are delivered at the customer’s doorstep.
  • Customers have the authority to change the frequency of the meal/ skip the meal or cancel the meal subscription.

These websites basically connect busy parents with experienced chefs who have knowledge of cooking delicious meals.

Market players

  • Nurture Life
  • One potato
  • Nomsly
  • Scrumpt fresh
  • Wise Apple

Revenue Model

Primary Revenue model

The price of the meal kit will be more than the total investment on grocery and meal preparation. So the primary source of revenue for meal delivery service for kids is the profit saved from the meal kit. The cost of the meal-kit – the investment on each meal = profit of the website.

Secondary revenue model

  • Advertisement – Partner with other online businesses or brands to display advertisements on your website. The charges depend as per the size of the ad, the page to be displayed and the schedule of the ad.
  • Franchise fee – As the popularity of the website increase, chefs would want their receipt to be a part of your menu. A small amount of fee can be mentioned for the chefs who want to include their receipt in the menu of your meals.
  • Selling grocery and merchandise – Another way to earn additional revenue is to by selling grocery and merchandise on the website. Sell grocery according to the recipes, cookware, utensils, recipe guides, etc. This will help the brand to earn extra revenue and improve the brand’s presence.

Critical Features

  • How it works – Every online meal delivery for kids will have a different way of working. So it is important to add a section where your visitors can understand the working. To turn your visitors into customers by having an intuitive “How it works” section, add helpful information such as areas of expertise, Explainer video, etc. Remember video content is the latest trend.
  • Weekly menu – Weekly menu or the current meals offered is the main highlight of the website as it features the meals which the customers can order. Mention the dish name with a high quality enticing picture and it is very important that you also mention the key ingredients and nutritional value of the dish.
  • Menu – A full-fledged menu can be mentioned on the website which has every meal which can be selected by the customers. Provide the customers with the option to select the dishes for the next week according to their taste buds and preference.
  • Testimonials– When ordering food for kids, parents have to be absolutely sure of what they are getting themselves into. Every customer prefers to hear reviews and feedback from past customers. Provide a section where parents can mention their testimonial for your meal and service and visitors can easily judge you by those testimonials.
  • FAQ’s – Parents when deciding food for their kids have thousands questions as they want nutrition-filled food which looks delicious. Parents need to make sure about minor things related to the food. So include a FAQ section where parents can search for their queries and can get the answers to it.
  • Terms and conditions – It is very important that the website mentions terms and condition to the visitors before they become customers. Add a section of Terms and condition in the footer of the homepage. Mention details like Eligibility, Registration and private information, disclaimer, privacy concern, etc.
  • Pricing – as Online meal delivery for kids is not a just a food delivering platform, it is a subscription-based platform which is why the visitors needs to informed regarding the prices according to week and number of meals. Have a detailed section which includes different number of meals and their prices. Keep the psychology of the parents in mind while pricingthe meals.
  • Blog – It has become essential to have a blog section for every business that has a web presence. Use the blog section to educate readers about nutrition for kids, food receipts, latest trends and news about your business, etc.
  • Non-profit initiative – 85% customers prefer to do business with brands who are associated with a non-profit cause. Add a section to your website where parents can donate money for the cause. Also, you can assure your visitors that your meal kit is packaged in biodegradable substances.
  • Referral Program– For every startup, word-of-mouth referral is crucial to attract customers & build trust. You can achieve this through a referral program. Encourage customers to invite their friends through social media or email to join your website. In return, give them some reward points, which can be redeemed in future transactions.
  • Affiliate Program– Running an affiliate program is a good way to expand your network in the food industry. Through affiliate program you can connect with influencers who can help you get relevant online traffic in return of small commission.
  • Allergen free food– Some kids can be allergic to a specific type of food like gluten, nuts or dairy products. Keep a different section where you can cater to the needs of these kids. The price of the meal kits can be different from the normal ones.

While researching about Online meal delivery for kids, FATBit found that some websites have been lacking some of these below mentioned things which can be improved in future websites for better ROI.

  • Use vibrant colors for a website which will cater to kids as it shows that the website connects with the kids
  • Add playful elements to your website while designing the website; keep in mind the target audience.
  • Add activities to their meals which will keep the kids busy and will have the desire to order more from the website.

Conclusion

Online Meal Delivery for Kids is a new concept and has acquired few markets. For entrepreneurs, there is a huge market waiting to be explored. Building your kid meal-kit delivery website will be easy if you follow the above-mentioned features and work on the revenue models.