How We Establish Our Business Through Meetups?

meetup

Meetups are a great means to meet local entrepreneurs and enhance business networking. When the best brains meet and discuss their ideas, the amount of knowledge, business opportunities, service offering, advisory, and connections that can be gained is unimaginable. Understanding the potential of participating in events, Vmoksha CEO & Director attended numerous meet ups throughout the New York to network with people of similar mind or interest. The business connections they acquired from attending such meetups have opened doors to different challenges and possibilities to work on.

How we managed to get connections?

We constantly search for Meetups through online tools like Meetup.com and Eventbrite on topics that match with our Industry and service offerings. For the past 3 months, we have attended over 20 meetups related to IoT, Networking, Big data, Women Entrepreneurs, Sports and Entertainment and Food Tech, Health, etc that were conducted throughout the New York.

Pioneers and leaders from different organizations had attended and discussed their views on the current business scenario. We have also introduced and discussed our service specialties and observed that many entrepreneurs were keen to know more about our organization. This enabled us to reconnect with those persons who have shown interest in our products through Emails & Calls. Around 200 new contacts were added to our CRM and through emailing, we were able to be in touch regularly with those contacts.

How Meetups Benefited Us?

  • Got a chance to exhibit our newly developed product, IONHACCP.
  • Discussed and shared knowledge on industry trends, technological advancements, etc.
  • Found opportunities in partnership programs
  • Met industry experts, reconnected with old friends and driven business opportunities from these connects.

Meetups helped in spreading our brand awareness and enabled us to understand the opportunities waiting for us and the channels that we need to focus.

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Challenges without External Hardware

With the world moving towards Mobility, there are umpteen applications available in the market to capture data. However, businesses have to still largely depend on external hardware scanners to capture data related to identity. Recently, at Vmoksha we developed an application that required barcode scanner integrations. We decided to develop the application using in-app barcode scanners and initiated the project.

Let’s discuss some of the challenges we faced while using the in-app barcode scanners.

in-app barcode scanner

Focusing

Barcode-scanning applications on mobile devices rely on “display aiming,” which requires a user to find the barcode when it appears on a device screen; align the barcode with a virtual aimer, and keep still long enough for the device to focus, capture, and decode the barcode. This can delay the time taken to decode.

Integration with internal applications

Integration of application with available barcode readers can be tricky especially when customization is required. We tried integrating barcode readers in the app, where a front camera is needed for scanning. Initially, it was difficult to find readers that allow reading barcode from the front camera; but to achieve the required response time was a roadblock due to the quality of the front camera.

Quality of barcode

Almost all the in-app barcode readers fail when the barcode is damaged or distorted. The quality of the barcode degrades as the product moves along the operations or due to wear and tear. The risk of no reads can be reduced with some of the external barcode scanners, which are equipped to read the damaged barcodes.

User Experience

The speed of delivery and ease of use plays a very important role in user experience.

The above-discussed issues will impact the acceptance of the application by the customer. In-app readers would be a good choice from cosmetic aspect but external hardware scanners that can be seamlessly integrated with the application and with better speed are still better suited to bring about positive user experience. Hence, eventually, we delivered the project using external hardware scanners and successfully implemented at the client side.

Role of Scorecard in Prioritizing Feature Set & Positioning our Product among Competitors!

Vmoksha is going to launch a comprehensive Food Hygiene & Safety Management System to assist Food Manufacturers and Processors in maintaining their food safety and quality. We named it Ionhaccp to convey users that our product ensures HACCP compliance, which is a fundamental requisite for food businesses.

We thoroughly understood the requirements from the global food market and designed ionhaccp with advanced features to compete with the current key market players. Considering future trends in food safety, we also integrated IoT technology to our product, which can capture Critical Control Points to prevent food safety hazard. IoT not only simplifies the task of capturing critical data but also gives valuable infographics and sends alerts to user’s mobile devices if anything goes beyond the predefined limits.

Prior to designing our product we have analyzed different feature sets available in the market. During the process of analysis, we have given scores to each and every feature based on the feature significance and availability, which helped us in understanding the weightage and priority of the features.

Let’s see how Scorecard has helped us in prioritizing ionhaccp features & competitively positioning of our Product.

Before we start, let’s know the basics –

What is a Scorecard?

Scorecards have scores (Weights) given for each product features on the basis of their priority. The scoring method helps to rank your features and understand which features are crucial to include in your product. While there are many inputs that ultimately go into a product decision, a scoring model can help the team have an objective conversation.

Why to calculate weightage and scoring?

To have a comprehensive view of major competitors’ products, their feature set, and to identify the potential gap. Arrive at an optimum feature set to gain market share.

What is our approach to achieving that?

  • Identify the key players
  • Identify the key features
  • Comparative analysis of features
  • Develop scorecard

How we Prioritize our Product Features?

Our team has conducted a thorough research online and offline and came up with all possible set of parameters (Features) and top market leaders (Competitors). Next, we have created a table with Competitors Products and listed all features available from all the competitor products.

Scorecard

As shown in the table above, we categorized the features into different heads. Narrowing the features was based on factors that impact Operational Efficiency. Following are the factors that determine the success of an effective product.

  • Functional
  • Technical
  • Architecture
  • Support
  • Licensing & Documentation
  • User Experience
  • Pricing
  • Security
  • Market Share

 Scorecard

Figure 1 – Feature & Competitors Representation

Next Step in the competitive analysis is to figure out the list of features available or missing in all the products. Then, we have to identify the list of important features and give them scores. Scores are weightage given to each feature listed based on its operational efficiency or significance.

First, we need to give maximum values to the score column; here we have given value 5 for the features that are inevitable. This means, for any feature which is given a score of 5 is considered of high priority (5 being the maximum score). If a product feature seems of least significance, we gave it a weight of 1 (1 being the lowest score). Based on the maximum values given in the Score column, we gave weights for our competitor’s products as well as our own product for each feature listed under the head. It must be noted that a product expert team after detailed analysis of competitors should give the weightages.

Once all features are given weight on 1-5, our Scorecard table was looking like this. (The data represented in the picture are completely based on our analysis and not taken from any outside sources)

 Scorecard

After allocating the proper scores, it’s time to see the total scores obtained for each product listed. Summing up all the scores vertically gave us the total scores obtained by each product. Once it’s done, we were able to find out which player has obtained the maximum scores and see the ranks obtained by each player. This is how our scorecard total looks like after summing up.

Scorecard

Now based on the total scores obtained, we could easily determine the ranks for each product. Hence, we were capable of finding our product’s rank & thereby where our product stands among the competition. Representing scorecard details graphically or tabular format is much easier to understand. Let’s see how we showcased our scorecard details.

Scorecard

Scorecard

Scorecard  

Based on our competitive analysis and the scoring, ionhaccp will be able to offer the must-have features as identified in the scorecard and will become one of the top 3 key players in this segment.

How to Run a Profitable E-Commerce Business?

Over the past few years, e-commerce sales have profoundly been reaping benefits for businesses. However, a comprehensive business strategy is required to acquire maximum profits in the e-commerce world. So, here I have mentioned you some tips on how to run a profitable e-commerce business.

Profitable E-commerce Business

Know Your Differentiators

It is important to know your differentiators when you plunge into any business. Differentiate your business from the competitors to get disclosed by the customers. Though Jabong was not the novice in the e-commerce industry, it created a niche for itself by targetting fashion & accessories as a category. Similarly, Ekbote Furniture knows the strength of its offline brand in solid wood furniture manufacturing, entered the online market to take the likes of Fabfurnish and Pepperfry by offering finest products at a competitive price.

Pick the Right Technical Service Provider

The scalability or performance is vital for any e-commerce business. It needs to be adroitly supported by a technical service partner, which helps you focus on the core business leaving the technical support as your partner’s responsibility. Therefore, it is necessary to choose a right technical service provider to achieve your goals.

Focus Long-Term Goals

If you adapt online business marketing and acquire loyal customers in a short term, you get profits within 6 to 12 months from launch. To succeed in e-commerce early, you need to invest your time and money prudently in the beginning. For example, Haldirams Online currently offers free shipping pan India despite the value of products purchased. Their aim is to improve the habit of buying namkeen online among customers as they believe that the quality of their brand will ensure that no other competitor can achieve that.

Target Potential Customers

Every customer may not be interested in buying your product. Hence, start your experimentation with different ideas in the digital world and narrow down few tactical plans that work and scales. Implementing target search engine marketing, social media optimization, affiliate sales, up-sell, cross-sell, and selling on multiple marketplaces will drive more traffic to your website. To find the right potential customers, it is necessary to have an effective digital marketing strategy.

Focus on Post-sales Service

Unlike physical retail, e-commerce service comes after the sale. Your old customers are a valuable source of sales. As they already know your business, you can persuade customers to buy from you again with better post-sale services. You may send personal thank you notes, encourage customers to share their happy stories on social media, etc., may create wonders in your digital marketing.

Follow these steps and expose your business on all the popular marketplaces to reach a maximum number of customers. Whether it is an e-commerce or m-commerce store, a well designed and developed platform is imperative to attract and engage customers.

Vmoksha’s seasoned professionals create an online store in the web or mobile platforms, which will be the best interface between you and your customers. We design and develop your website in such a way that customers handle your e-commerce platform without any confusions and hassles and can be easily worked upon.

What innovations can we expect from SharePoint 2016?

Since 14 years, SharePoint has been delivering its features and functionalities extensively to mid-size and large businesses. SharePoint 2013 was released 3 years back, Microsoft has changed a lot of things, especially in Office 365. However, the IT pros, developers and end users are eagerly waiting for the next version – “SharePoint 2016″.

Recently, Microsoft has shared some updates on key enhancements and capabilities that they are bringing in SharePoint 2016, which will be available from Q2 2016. Microsoft particularly focused on delivering on-premise deployments and cloud innovations through hybrid deployments of SharePoint Server with Office 365.

SharePoint Server 2016 will deliver capabilities and enhancements in three key areas:

  • Improved user experience
  • Cloud-inspired infrastructure
  • Compliance and reporting

 

What innovations can we expect from SharePoint 2016

Image Source: http://blogs.office.com/2015/04/16/sharepoint-server-2016-update

Improved User Experience

For any organization, faster decision-making and maintaining connects are crucial capabilities to increase their business effectiveness. The primary workplace necessity is user’s ability to access information while moving. Hence, SharePoint 2016 will deliver improved mobile access to applications, content and people together with touch-based experiences across various devices and screen sizes.

The file storage and document collaboration will become more people-centric with SharePoint 2016. Besides, it will facilitate improved user experience and new capabilities that are available either through a hybrid implementation of Office 365 and SharePoint Server 2016 or as a part of the on-premises deployment.

With SharePoint 2016, you can quickly discover relevant data that is stored in both on-premises and cloud environments powered by Office Delve and Graph. In addition, it also helps in streamline communications with higher integration with Yammer and Exchange and also enhancing management of new types of media by integrating with Office 365 Video.

Cloud-inspired infrastructure

SharePoint 2016 brings your internal investment to the data center, which improves reliability, performance, and scale. It also enables true hybrid scenarios that enhance the actual on-premises investments.

Microsoft will enable a broad ecosystem of partners and solutions through a standard set of APIs that cross over cloud and on-premises. SharePoint 2016 will simplify end-user support and training for IT by integrating products like the next release of Windows Server, Exchange Server 2016 and the next generation of SQL Server.

Considering the customers who run business on-premises with hybrid deployment, Microsoft has committed in delivering SharePoint 2016 as the most stable, secure and reliable version that help organizations to benefit from cloud innovations.

Compliance and reporting

Overexposure to data and information may have legal and compliance implications. SharePoint 2016 is designed with a wide range of features and capabilities to protect your sensitive information with the help of Data Loss Prevention (DLP), enables data encryption with new scenarios, compliance tools that cross over on-premises servers and Office 365 and also ensures content usage that adheres to corporate policy.

Hopefully, these innovations in SharePoint 2016 will help move your business ahead!

Vmoksha has expertise in SharePoint services, especially in Migration Services and Portal Development.

Our specialists will strategize with you and ensure a new hosting environment that is tailored to address your needs. Let our experts create an optimized SharePoint solution to size up your business.