Customers: The Last Word

 

Customers play a vital role in the rise or fall of a business venture. The customer experience offered by a retail venture is what sets successful businesses apart from the rest. Studies reveal that it costs businesses about 6-7 times more to acquire a new consumer as compared to retaining an existing consumer. Additionally, companies that prioritize consumer experiences reportedly register 60% more in profits. The consumer does get to have the last word! Why do we say so? This is because a company’s 20 percent loyal consumers are responsible for being the contributors to 80% of the company’s revenues.

At the turn of the decade, as the world witnessed the emergence of smartphones and with more than 6 billion units sold today, retail enterprises have the task of retaining their existing consumers while they acquire new ones. The customer loyalty solutions are the result of a highly novel and intelligent marketing strategy adopted by the business enterprises to connect more with their customers.

Integrity is the Key to Sustainability

An average offline real estate transaction by a traditional buyer takes about 6 weeks to close as compared to a mere 2.2 weeks taken by an online buyer. For sustaining a business in the virtual space, it takes more than just a website with a good interface or user experience. In today’s times, every industry in the economy is undergoing a fundamental shift in the way they function, an aspect further enhanced by the widespread advancements and adoption of technology. Similar is the case with the real estate industry, where technology now leads the transformation. However, with the emergence of an online identity for all forms of businesses, the viability for long-term success is sustenance. Maintaining the integrity of a venture is another crucial element to strike out potential competition.

The Advantages of Developing Android Apps

 The Android operating system is a Linux-based mobile operating system with the largest installed user base. At 53% device market share and 1.5 million (and counting!) available apps in the Play store, Android-powered devices have managed to create a strong stranglehold on the mobile devices market. One factor contributing to the exceptional rise of Android as the most preferred mobile operating systems is it being open source and freely available to app developers. The open source code along with the development tools enable developers to freely create and distribute their applications on the app store.

In addition to being an open source system, Android app development is highly cost effective as well. The Android app developers hardly need to install any additional hardware infrastructure for their app development endeavors. Its relatively low barrier to entry further enhances the return on investments by considerable numbers.

Untethering the Enterprise: Developing Enterprise Mobility Apps

$330 billion is the current worth of the enterprise software market and is all set to soar higher! However, business enterprises are still in the process of realizing the full potential of a mobile workforce. The dawn of the digital era has brought about a fundamental shift in the way businesses implement as well as utilize enterprise mobility solutions. This rapidly rising graph of the smartphone and other smart devices adoption has reached even the conventionally non-mobile segments of the workforce. This, in turn, has led to the disappearance of the consumer-business divide, necessitating enterprises to revamp and restructure their existing processes to harness the power of mobile.

The Hidden Costs of In-house App Development

Developing a mobile application involves more than just the costs outlined by the technical specifications for a converting a killer idea into a quantifiable reality. There are a whole lot of hidden costs if app development is in-house, further fuelling the long-standing debate between the pros and cons of outsourcing versus in-house. So what does an in-house application development entail?

1. The first stage of incurring additional investments arises in the form of hiring and setting up a team of developers that encompasses the 24/7 remuneration for employees.

2. However, the investments do not end with the hiring of a bunch of developers. In order to build a cohesive and effective team of app developers, designers and project managers, the businesses are required to spend funds in training them as well.

Re-engaging Users: Going Beyond the Initial Installation

The current ecosystem for mobile application downloads, engagement and usage is very much different from what it used be just a year back. With app downloads and installs no longer a metric to determine the success of the app, app makers as well as marketers need to change their strategies of connecting with users. Studies show that almost 80 to 90% of the mobile apps are used just once before being removed from the system. The key to retaining users lays in the effective implementation of user engagement strategies, including the need to re-engage their users.

Re-engagement implies a set of practices or technologies that can identify users who have downloaded an application and presenting them with offers or services prompting them to use the app more often. If the users have stopped using the app after a specific duration of time, these very offers or entitlements or offers act as an incentive to the user to use the app again. For re-engaging the customers with an app, a web development company California can either implement in-app messaging or push notification services.

The Latest Trends in Big Data Arena

With the buzz around “big data” only increasing over the years, we find out how well organizations are catching up with data and vice versa. We look at some of the recent trends that are doing the rounds in the enterprise world of big data adoption and implementation.

1. The market for big data is growing – the $7 billion estimated market cap way back in 2011 is set to grow over $61 billion by 2020 and $84 billion by 2026. It indicates a CAGR (compound annual growth rate) of 17% spread over the 15-year duration, starting 2011.

2. Despite the rising awareness about the advantages of implementing and adopting big data analytics solutions, the success rate of its implementations is still ineffective. While there are only 27% (1 out of 4) enterprises that have successfully managed to execute their big data strategies, 24% enterprises have either not implemented or do not plan to do so. In addition, there are 13% organizations with full-scale production of big data, 35% in partial production and 29% are in the stage of doing a POC.

3. Two-thirds issues hindering the effective implementation of big data analytics solutions are processes (or people) and not the technology concerning it. There are quite a few additional common issues like: