Companies and technologies are at the crossroads of development and each organization comes up with a different strategy so as to attract customers and at the same time is able to make them realise the importance of their product.
A good business leader is the one who is able to wield strong influence on the business world. Therefore, it is the need of the hour to do something that leaves an impact over the stock market, reduces the churn rate of the customers and induces greater profit to the organization.
We come across multiple organizations , but one thing that they have in common is that each differs from one another in terms of their goals and product. This differentiation gives companies an opportunity to market in a unique manner. But effective marketing is not enough to convince the customers to buy your product. It is always necessary to enquire that whatever is being offered, has some relevance different from the one prevailing in the market. Thus, when this happens, it automatically provides the customers with a reason to get your product.
Several well-known companies are into existence and out of those, only a few have created a differentiation in the minds of the audience and has provided great benefits along with their services.
Here are my top 5 names which have given those “reasons” to enhance the customer experience:
1. Zomato (easy search): The company was first established in the year 2008 with the aim of eliminating the problem of browsing numerous sites and finding that one place for eating out. It is an online restaurant guide providing information of home-deliveries, night-out clubs, clubs, etc in the cities of India, Brazil, Turkey, Indonesia and various other places. In 2010, the company was named among the top most promising internet companies in India.
The aim of this organization was to act as the helping hand for those foodie wanderers who are either new in a city or people who wanted to get information about the most happening eating corners around them.
Now here is the question, why is this company considered to be effective?
The answer is simple. Because of its service! All it does is reduces the effort of going through millions of websites to find that one best place. This site is quite beneficial for travellers. Meaning someone who is new to a city can easily find eating options in no time. Hence, this is smart! It not only saves time but gives these innocent customers to get the right search from all parts of the world. Currently it is expanding its reach in Europe and has also generated large volume of funds.
2. Paypal (easy payment): Headquartered in San Jose, California, Paypal is an American e-commerce business allowing online payments and money transfers. It acts as the payment processing network for the online vendors. With the development of e-commerce businesses over the last few years, it was quite necessary for all those buyers who are tech savvy and prefer buying online, to have something that could make it easier for them to pay online, without actually visiting the shop!
Again, this was recognized as something popular. The reason being if customers are buying everything online, then why not pay online? Paypal facilitates easy and safe transaction of money, online. Thus, no matter where the a person is, he can easily pay his bills without actually waiting in queues( Remember those marts where you had to wait for your turn to pay for the product you had purchased? ) Just a single click and you’ll be done!
3. Zappos (easy purchase): In the last point I had discussed how e-commerce is evolving in the market. Here it is, Zappos.com based in Las Vegas. Almost everyone is fashion driven these days and for teenagers, being all crazy about brands is an “in” thing. Therefore, observing the preferences of the customers, Zappos was introduced to us as the online shopping mart. This particular shopping store has shoes, clothes(both for men and women), accessories and what not! All you need to do is visit the site, click on whatever item you like and purchase it online.
They wanted to prevent buyers from hopping around stores, literally visit big brands and get clothes. You can easily compare prices from different brands, opt for the one which you like and get it there itself. This facilitates spending less time on shopping. Also, if someone plans to gift someone something, just order it online!
4. Flaberry (easy gifting): Flabbery.com is one of the fastest growing e-commerce services providing innovative gifting solutions. Launched in the year 2013, the company enabled a person to customize his gift over the internet and purchase the product. It introduces the idea of ‘personalizing gifts’ and provides a bunch full of gifting options to the consumers. The Founder, Anurag Srivastava says, “ The trade-off is between mass market products and niche customized products and we have chosen the latter. This model allows us to treat every order like it would be managed by an individual account manager”.
The main objective of Flaberry was to provide with a lively experience of gifting people. They have special items like chocolate bouquets. One of the unique techniques it uses is a cloud-based call management system for it’s business to track and record each order it gets. Currently, Flaberry is bootstrapped and has turned into a profitable business of 40-45% within 6 months of the commencement of operations.
5. Optionmonster (easy decision) : This company acts as the support system for those investors and market analysts who has an interest in stock market and plans to trade on this particular niche of business. It provides stock market insight, option trade idea and options education to meet the needs about what it requires to be a trader.
Investing money is a crucial decision and thus the company aims at making people better traders. With companies developing overnight, trade or investing education is the current requirement. There is no point wasting time and money without having the correct information. Thus, the company educates the people about the methodologies and the money management techniques so as to enjoy larger profits by them. Hence, the decision making process is elevated.
The above mentioned companies are well-known today, not because of their profits or turnover, but in fact these companies have provided value along with their services. A business may operate at various levels or areas, but the core objective of each enterprise should be one, that is to reduce the effort and save time and money of the customers. That is when you enjoy the real profit and are portrayed different from others.