Digital marketing is the domain that has entered itself into most challenging province. Building of vast increase in consumer demand in this digital era has brought conumers in power. Consumer power has headed digital marketing towards being always on demand –not just always “on” but, also responsive to the consumer's behaviour.
Speed is the game name in today's “on-demand” economy generation where everything is at fingertips through a single mobile tap. The evolution of consumer expectation and rapid increase in emerging technology along with human ideas and conception to wrap up intoan mobile solution is what that fuels up the on-demand marketing.
The searching technologies have made the product catalog omnipresent while, social media promotes the products at each and every corner where consumers can compare and choose the product that fits their pocket andofcourse mobile device is something amazing invention of mankind that adds a “Wherever” dimension with the digital era.
In the era of 90's, there was a boom of “fast-food” and now today it seems like there is of “on-demand” economy. The commencement of Uber by top app development company has leveraged the on-demand domain to many startups serving consumer's expectation. UBER raised almost $10.2 billion, while OLA cabs are around $1.18 billions and the other core players like Urban Clap with $35 million, Jugnoo with $6 million, Zooper with $20 million are some of the several startups that followed the footsteps of UBER and ahs been able to raise up such lucrative bucks within short span time.
What are the things that raised the concept of “On-demand“ service?
As these digital capacities increases, consumer demands will ascend in following areas:
1) Now: Consumer want to interact at anytime and anywhere.
2) Can I: They are in search to do newer things as discordant kind of information that comes inway that creates more impact for them.
3) For me: They will expect that all the data stored must be relevant to their needs or those data should be used to personalize what they experience throughout.
4) Simply: They want all interaction to be simply easy and smooth.
From these one thing is crystal clear that consumer's experience with the things and brands are becoming more describing and it is more important as such experience dives out 1/3rd of consumer decisions.
Which industries are more influenced by On-Demand Economy?
Let's go through some several industries to checkout how they made million dollars with a single mobile approach.
The food industry has always been in evergreen zone where food delivery is always an favorite alternative for Indian customers. Three main milestones to handle food business is: searching, cooking food and delivering. But,today that are platforms that explores ordering of food and groceries online. Industry has contributed a far way in technology where traditional technology are disrupted by On-demand Mania.
Here are the list of few modules that can be adopted in on-demand approach:
1) Instacart –An grocery Delivery.
2) blue apron – delivers ingredients and recepies.
3) Online Table Booking with – Open Table
2) Ground Transportation:
The Ground Transportation is one of the few industries which is highly disrupted by the On-demand Economy. Cabs and taxi have totally shifted out with On-demand economy where many existing taxi companies have launched their own app in order to sustain in the competition.
Some of the few Modules in on-demand Approach are:
1) Uber – On-demand Cabs
2) Lyft -car pool or Ride sharing cab platform.
3) Luxe – Vallet parking on-demand.
Some Other industries that are highly influenced by On-demand Module are :
On-demand approach modules:
1) Miniluxe : Hire stylist and serve client at their place.
2) style Seat : Parlor booking
4) B2B Services:
On-demand approach modules:
1) Booking Corporate Events – Vanuebook
2) Temporary staffing - Task Rabbit
What makes these startups attractive investment option?
The point of view and the conduct that satisfies consumer have shifted to instantiates. Smartphones have prove to be the best hidden weapon while the delivery and convenience level is extraordinary. Just by a single tab people can book cab, order groceries, hire plumber, electricians, can book stylish and almost everything right from a single smartphone click. The demand for such type of services tend to increase as the day passes.
More and more startup entrepreneurs are unlocking the huge potent within consumer needswhile, consumers are embracing the benefits avails by such startups. There is great transformation in consumer behavior, which is fair good news for the enthusiastic startups.
Though, huge no of startups are about to gain profit, but their revenue seems to be increasing then before.
Through which ways On-demand apps are fixing engagement messaging?
Some of the ways that fixes engagement messaging in on-demand culture are :
1) Watch user behavior to highlight campaign timings opportunities.
Example: People consuming alcohol survey was conducted. It was obvious that Friday and Saturday are the most expected days for people to prefer alcohol but, the survey found that Sunday was the sales day out where most alcohol were sold.
2) Memorable brand voice keeps user engaged and loyal.
Example: On Friday evenings, when you are about to get off from your office hours Hyperlink Infosystem would like to send you Notification reminding you to hangout for shopping. Retention Messages Nudges users towards loyalty – forming habits.
What to Expect in 2020 ?
Over the next upcoming years we credibly wish to see the consumer experience fully integrated with physical & virtual environment where most of the technologies are about to bring on this scenario live now. The one that is grabbing traction is Near Field Communication (NFC) Where embedded fields in cell-phone do exchange of data that have NFC enabled in them. Though the price of such NFC enables is already low to 15 cents, but the latest research can make it more reasonable and cheap, so that more companies are attracted to integrate it into any device, meanwhile generating more augmentation for interactive experience.
What is the future of on-demand economy?
The On-demand concept seems like, it is here to stay and grow longer. Consumers are excite to embrace things doing in an innovative way. Though several business are successful in solving versatile issues and difficulties, but what customer wants is faster and reliable solution and “On-demand” is the one which is going to win the show.
The future startups depends on following things:
2) Ease and Convenience
Before starting any On-demand service startups are expected to ask these 2 questions:
1) Are we the most easiest company to deal with and business with?
2) Are we able to provide faster and reliable service than anyone else?
Products life cycles are getting shorter and we are about to look forward to startups that grow and at the same time fail in extreme speed than ever before. The future of startup app development company looks exciting, meanwhile based on consumer experience and demands.