Why Startups Should Consider Outsourcing DevOps Posted on October 13, 2021December 30, 2021 by Admin Innovation at this pace requires software development teams to deliver products quickly without compromising on their quality or usefulness. One of the ways startups can regularly achieve that advantage is through DevOps. You may have some idea about it, but to be on the same page, let’s define DevOps first. DevOps is a set of methods that help businesses offer products and services continuously to shorten the development cycle. In other words, DevOps enables continuous integration into production. While many startups have a faint idea of how to, they aren’t typically prepared to put DevOps into functioning right away. Hiring DevOps specialists can be yet another added expense and managing such a development pipeline can get tricky quickly. Can outsourcing DevOps do the trick for them? Let’s find out what DevOps-as-a-service is and if startups should consider outsourcing DevOps. Why DevOps is Lucrative for Startups DevOps circles around Lean development principles and Agile development methodology. While all three complement each other, here are a few quick reasons why DevOps is lucrative for startups from the get-go. DevOps shortens the development cycle and makes it cost and effort-efficient for startups to present an MVP to the market, rope in investors and hit the market with a finished product.DevOps increases deployment frequency and ensures that the code is high-quality and usable.DevOps enables high flexibility when multiple apps, services or components are involved.DevOps lowers the chances of change failure by ensuring changes are stable and quickly integrated into production.DevOps improves metric reporting with automated systems.DevOps, above all, reduces wastage of resources- money, talent and time. For all those reasons, DevOps is a highly lucrative practice for startups keen on seeing ROI from their offering sooner rather than later with robust development and no compromise on product quality. Why Startups Should Invest in DevOps-as-a-Service DevOps as a service brings the DevOps infrastructure into the cloud, enabling cloud migration and access to the delivery pipeline in the cloud for end-to-end management. Here are powerful reasons why startups should consider outsourcing DevOps. Access a ready talent pool DevOps specialists are far from affordable today and they know that. For early stage startups wanting to leverage DevOps within their budgets, hiring a DevOps specialist might not sound like the wisest decision. DevOps outsourcing providers come with a ready talent pool of DevOps experts that you can tap into for your startup and start gaining DevOps benefits from day one. Cut short the process of talent acquisition and training. Access specialists at affordable rates with DevOps as a service. Shrink the development cycle Outsourced DevOps teams work with sophisticated infrastructure, services and tools to support their many clients and partners. As such, outsourced DevOps persons yield shorter development cycles and efficient collaboration and communication with continuous testing and deployment. Get DevOps as a service from an experienced team with cross-functional, collaborative talent for faster development. Improve QA and security The constant monitoring, testing and automation of QA activities considerably improve the quality of code deployed to the production environment when working with an experienced DevOps team. Moreover, outsourced DevOps teams prioritize the quality of service and bring in trained engineers who adhere to the latest developments and hold relevant certifications in the arena of QA and security. Follow best practices Outsourced DevOps teams also follow industry best practices and bring along sophisticated expertise, having worked with a variety of startups and enterprises to deliver DevOps services with a varied set of approaches. Their wealth of experience allows outsourced teams to figure out the right plan of action for you early on- saving time and effort and leading to anticipated results quicker. Minimize risk and expenses A remote DevOps as a service provider often takes the financial onus on themselves. You don’t have to hire a team of experts, rent an office, worry about hardware and software expenses or pay taxes. You pay for what you get- DevOps services. By outsourcing DevOps to an experienced provider, you can focus on other critical aspects of your business, such as delivering outstanding service to your customers or mapping business growth. Accelerate time-to-market For competitive advantage, you need to hit the market with your idea or product faster. With an outsourced DevOps team, you accelerate development and deployment, while saving resources and headspace on all those responsibilities. DevOps outsourcing enables you to dictate realistic timelines and then trust a proficient team to do their work well for you to meet your goals and timelines. You may also choose to expand or shrink down your DevOps team as per your need. Get Started with DevOps-as-a-Service DevOps as a service is a wonderful opportunity for startups to leverage the practice without committing heavy resources. A DevOps service provider will bring expertise to the table and allow you to benefit from DevOps in transforming your practices for better and making your business more robust and efficient. Find a DevOps as a service provider who can help you identify gaps in efficiency and productivity, lay down a plan to bridge those gaps and deliver the advantages of DevOps for your startup as soon as possible. KiwiTech’s DevOps service specialists have worked with hundreds of startups over the years in several industries to help them reap the benefits of DevOps methodology and save time, cost and resources. Speak to our DevOps consultants today.
How to Make Your Equity Crowdfunding Campaign a Success Posted on October 4, 2021December 30, 2021 by Admin Whether you’re an early-stage startup or in the growth phase, we know that capital is important for you. Working capital is the one thing startups need to outgrow the startup phase and become a full-fledged business. While there are quite a few ways to obtain funds for your company, one of the increasingly popular ones is equity crowdfunding. It’s how US-based startups can raise capital from unaccredited investors globally. This new yet well-established way of gaining capital can help startups no matter what stage they are at. However, to successfully raise meaningful capital with equity crowdfunding, you need to run a campaign, which involves strategizing. Let’s see a few tips on succeeding with your equity crowdfunding. Create Campaigns Around Investors Identify your ideal investor profile to build and captivate a targeted audience. Having a feel for the kind of investor who’d be right to invest in your company is helpful knowledge before designing your equity crowdfunding campaign. Create investor-focused messaging for paid ads, campaign landing pages and emails. Focus on your growth trajectory and vision for your company more than you do on your product. Here are a few pointers to think about from the POV of your investors- Your customer acquisition to lifetime value ratioThe business relationships you’ve secured that will positively impact your growthYour projected revenueYour plan for hitting the projected revenue number Get your Online Act Together Equity crowdfunding can get doubly tricky with a broken or ill-functioning online presence. Marketing your crowdfunding campaign is no different than selling a product. Give your online presence a redesign and reshaping if needed. Your website may well be the primary source of information for investors and a conversion channel for you. Lead investors through the offering process with an attractive design, clear copy and a positive customer experience. Focus on the landing page for your online offering to attract and convert potential investors. Build and Warm-up an Audience If you don’t have an audience already, start building and priming one. Equity crowdfunding usually requires some form of direct marketing. So, either a healthy social media following or a database of prospective investors is key. If such an audience is missing, the next best idea is to run Facebook advertising or Google AdWords campaigns to bring your ideal investor profile to your landing page. Build a strategy for this outreach and follow it diligently. Segment your audience beforehand and prime them up by marketing specific parts of your business to particular segments, depending on what they may want to hear about you. Decide on a Realistic Valuation Having a realistic target for the campaign is vital. If you get it right, investors will recognize a good deal and invest money in your business. Setting it too high may turn off investors, and you may not achieve your investment acquisition objectives. While there’s no one formula to calculate the valuation of your startup, ideally, you should raise the amount you need to move to the next step of your business plan and a little bit extra for unexpected costs. Remember, if you ask for too little, you may need to plan another raise. Also, know that since this is an all-or-nothing process, if you don’t meet your minimum investment goal, your campaign won’t succeed. Market your Campaign Uniquely No two companies are the same and so aren’t any two crowdfunding campaigns. Be clear on your unique proposition and highlight that in your marketing and advertising. Your marketing strategy will not only inform your investors but also educate and inform other audiences about your company. Clearly define the marketing materials that will form a part of your strategy. Break them down into pre-launch and launch-period marketing collateral. A pre-launch campaign will help you drum up interest and form a database of interested investors. During the launch phase of the campaign, you can provide your list of first dibs on investing in your company before you go public with the offer. Leverage Video Your equity crowdfunding video will factor into the outcome of your campaign. This video should impress your potential audience and turn them into investors by informing and educating them about your product, company and vision. Outline your business plan, the journey you’ve made so far, your achievements and your vision and planning for the future. Highlight your unique selling points, introduce your team and demonstrate the potential in your product. Of course, try to make this video not just informative but creative and engaging, too. Consider hiring a company that specializes in producing high-quality videos for pitching purposes. Keep Investors Involved Investors in your startup want to stay abreast of everything happening in the campaign. Keep them engaged via email and social media during as well as post the equity crowdfunding campaign. Be sure to keep your investors looped in when you hit crucial milestones in the crowdfunding campaign. Are there additional features in your product that didn’t make it to the marketing campaign? Proactively communicate with your investors. Send them a video message thanking them for their support. These steps will ensure you build a relationship with your investors no matter what the outcome of the campaign. Conclusion Making an equity crowdfunding campaign successful takes effort on all avenues. However, the result is a significant capital invested into your business that can take you to the next level. Follow the strategies given here to ensure campaign success. Looking for actionable advice from crowdfunding experts? Reach out to us today.
5 Strategies for Startups to Enhance their Customer Experience Posted on September 30, 2021December 30, 2021 by Admin Introduction to Customer Experience A PWC survey found that 73% of customers consider experience as one of the most important factors in their purchasing decisions. Customer expectations are increasing and customer experience is rapidly driving the decision-making process. Put simply, an exceptional customer experience improves brand value, trust, and positively impacts the bottom line. As a startup, it’s easy to forget about the customer experience early on when the focus is on raising capital and building the product and hitting the market. However, several studies suggest that customer experience, when integrated early on, can lead to phenomenal success when a product launches. So we suggest you start with a great customer experience right from the get-go. How can startups strategize for an enhanced customer experience? Sketch a detailed customer journey map The customers of today interact with a brand through numerous touchpoints. Therefore, it’s important to sketch a map of all avenues of interaction and define what a customer is trying to achieve at each stage. Then, all you need to do is optimize the service you deliver at each touchpoint. At this stage, it’s important to empathize with the customer. How are they feeling? What are they doing while interacting with your brand? What information do they have at hand right now?How much time are they willing to spend on this interaction?What are they expecting from you? All this information will come together to yield a cohesive customer experience that reduces friction and increases engagement across the board. For instance, Zoomcar built a detailed customer journey map with key points in the rental journey to proactively support their customers. Share customer data across departments Let’s consider Jitterbit, the software company that proactively avoids internal silos. They share customer data across departments to create a consistent image of each buyer, leading to a streamlined experience across all avenues. Broken customer data can lead to an inconsistent experience, hindering engagement and devaluing brand worth. Enable your employees to offer personalized service and recommendations by sharing data across departments. You can even choose to automate workflows to work smarter, not harder. Email automation, templated responses and other workflow automation tools help streamline operations and speed up the service delivery process, improving the overall customer experience. Create an emotional connection and an empathetic CX The best and most memorable customer experiences are born out of genuinely caring about your customers. Human decisions are based on emotions a lot more than we’d like to believe. A research piece by the Journal of Consumer Research found over 50% of an experience is about emotions. Your customers may forget what you said or did, but they will never forget how you made them feel. If you’re a startup in the Insurance industry, empathizing with your customer would mean fewer fields on forms and a gentle tone of voice in the copy where your customers are applying for a claim. For instance, when someone calls CD Baby about selling their music through the site, a customer service rep would take time to view their website and listen to their music, proving that they deeply care about their customers. Engage with your customers emotionally, and you’ll likely never lose them. Build the Contact Center of Tomorrow The contact center plays a critical role in setting up an exceptional customer experience. More often than not, it’s the first and the only point of contact between the customer and your brand. Therefore, rather than viewing it as another cost, startups should see it as an instrument to further enhance their CX. Use modern technologies to build the contact center of tomorrow. Move to the cloud – Cloud-based contact centers can easily scale to serve more customers during peak hours. Agents can even offload repetitive queries to bots to reduce call volumes and engage with customers 1:1. Leverage data analytics – Collect, store and process valuable customer information for detailed analytics and sentiment analysis. That allows you to uncover feedback and make changes to the CX accordingly. Get creative with AI and ML – With access to customer information across your company, you can implement AI and ML tools to a wide variety of use cases to further automate and enhance the CX. As a side note, all of this not only improves your customer experience but also allows employees to work at their best in tandem with technology. Measure the right metrics It’s impossible to succeed at something you don’t measure. So, choose the right metrics to track to gauge how superior your CX is. Two commonly used metrics are the Customer Satisfaction Score (or CSAT) and the Net Promoter Score (or NPS). While CSAT is a great way to measure one interaction with a customer, for instance, a singular shopping experience, the NPS metric allows you visibility into the customer’s entire journey with you. Using NPS as an indicator, you can develop products, adjust pricing and apply processes and technologies to prevent churn and increase customer loyalty. Conclusion Customer expectations are on the rise, and there’s nothing we can do about it. Customer-obsessed companies such as Amazon have shown that it’s possible to deliver a truly outstanding customer experience while also taking care of everything else. As a startup, integrate CX strategies early into your processes so that you can deliver great service right from the get-go. And if your startup is struggling with your CX, speak to one of our user experience design specialists today.
Equity Crowdfunding: Why It’s More Important Now Than Ever Posted on September 23, 2021January 3, 2022 by Admin For early-stage startups, a few things are more important than capital. Startups can work on market conditions, deliver marketing that attracts buyers and fine-tune their product with insights about customer behavior. Still, to create a well-rounded product for the market, they need access to capital. The Need for Capital for Startups and How They Traditionally Acquired it Startups need capital to get through the initial barriers to entry, ideate and develop a standout product and make changes to their product or team based on pivots. Traditionally, startups had four main options to acquire capital: Friends and family fundsVenture capital or angel fundingBank loansTheir personal savings And yet, there are entrepreneurs who’d not qualify for any of these for varied reasons. For them, an option is becoming rapidly popular- equity crowdfunding. The Newer Avenue: Equity Crowdfunding In essence, equity crowdfunding makes it possible for businesses in the U.S. to acquire funds from unaccredited investors. Three developments led to the equity crowdfunding of today: The Jumpstart Our Business Startups Act in 2012 enabled companies to raise capital and issue securities online. The Title III reform of the JOBS Act 2016 made equity crowdfunding a massive fundraising industry, permitting fundraising directly from unaccredited investors.In 2020, the Securities and Exchange Commission changed the JOBS Act, raising the amount of capital startups could crowdfund every year from $1.07 Mn to $5 Mn with Regulation Crowdfunding and up from $50 Mn to $75 Mn through Regulation A. We’re still on the bleeding edge of the potential of equity crowdfunding for startup founders and investors. Yet, investments of over hundreds of millions of dollars in U.S. startups confirm that this mode of fundraising is here to stay. Top Equity Crowdfunding Companies The U.S. equity crowdfunding market is dominated by these three companies today. WeFunder WeFunder has been a strong campaigner for the JOBS Act and is now at the forefront of equity crowdfunding. Startups can sign up on WeFunder with no fees until they raise capital. That means you can focus on marketing your business without being bogged down by paying out for the opportunity to do so. StartEngine StartEngine houses a growing community of 300,000 investors, making it a lucrative place to get noticed by investors. The company supports you every step of the way with a full-service plan and keeps you in the driver’s seat. You’re in control of tailoring your offer to suit business needs with StartEngine. Republic Republic markets itself as a company that can do more than helping you raise capital. With a growing community of 350,000 investors, it promises to create true fans and supporters for your business. Republic reminds you that receiving capital is only one-half of the game, besides gaining market exposure and is quick to highlight that. A Few Facts About Equity Crowdfunding Here are a few things to know about equity crowdfunding- Equity crowdfunding can catalyze your business, opening up avenues for sales, sign ups and engagement when you launch an online fundraising campaign. You may also see an uptick in business development opportunities when you have investors vested in your success.Equity crowdfunding and traditional capital acquisition aren’t mutually exclusive. Make sure you create the right blend of two for your startup.You can raise a meaningful amount through equity crowdfunding. After the 2020 amendment to the JOBS Act, startups have been raising significant capital through equity crowdfunding.Often, it’s not just about raising money once but setting up your startup for easy capital acquisition in the future, too. Equity crowdfunding supports multiple funding rounds.Equity crowdfunding democratizes access to capital and doesn’t necessarily mean operational constraints. At KiwiTech, we help you raise meaningful capital through equity crowdfunding and assist you in shareholder management, too. Common Myths Around Equity Crowdfunding Finally, let’s bust a few common myths about equity crowdfunding. I need to be revenue-positive to equity crowdfund – While you don’t need to be revenue-positive to raise capital with equity crowdfunding, you need a solid and sustainable growth plan with profitability integrated into it. It’s for the big companies – Although having a growth trajectory helps, it’s not all that matters. Companies with standout potential for industry disruption see early-stage traction alongside companies with credentialed founders. It’s for early-stage companies – Equity crowdfunding works for startups at all stages, including those that already raised angel or venture funding. The regulations are limiting – If you equity crowdfund with the companies we mentioned before, you’ll find they have figured out an easy way to comply with all regulations. The most complex of all is the disclosure regulations. All those platforms make it easy for you to maintain compliance without an in-house attorney or CPA. It turns off the real investors – This is one of the most common myths that turns startups away from running their equity crowdfunding campaign. A successful campaign can make your company more lucrative to career investors. It’s expensive – While there are costs associated with running a crowdfunding campaign, you only need a few thousand dollars to raise a million. It’s time and effort intensive – When compared with the time and effort needed to raise venture capital, in an equity crowdfunding campaign, all your effort is invested in growing and strengthening your business’ proposition instead of attending 1:1 meetings. Also, there are other advantages such as exposure, social proof and engagement. ConclusionEquity crowdfunding can be the way you decide to raise capital for your startup, not as a last resort but as a choice. Talk to us at KiwiTech to learn more about the various options available to you and receive consultation from experts on the right way for capital acquisition for you and the path thereafter.
Why Startups Fail to Get UX Right the First Time Posted on September 21, 2021January 3, 2022 by Admin According to 14 international accelerators, inadequate testing is one of the most common reasons for startup failure. Inadequate testing also means not knowing how to access the market and not understanding the barriers to entry. What are we trying to test here? In effect, the needs of the target market, the design that will solve the need for them in the best possible manner, and how to serve the solution to them so that they pay attention and buy. A lot of successful startups offer a great user experience. More so, design elements and user experience often get sidelined in favor of sales and business development activities. Subpar user research yields a substandard user experience, which sets up a startup for failure. So what does a user of a product need to stay loyal to it? What Do Users Need in the UX? Today’s user compares every experience to every other. That means a small startup and the experience it offers is contrasted against that offered by Facebooks and Amazons of the world. Therefore, to stand out and make a difference to your customer, you need to balance these- Personalization- Is the experience you offer personalized enough for the customer? Hyper-personalized experiences can and will make a difference to how customers perceive your brand and interact with it.Comprehensiveness- How comprehensively have you laid out the experience for your buyer across channels and touchpoints? A comprehensive UX does not break or lessen depending on the environment of interaction between your brand and the customer.Simplicity- Are you confusing or overwhelming users with too much? A simplistic design and copy can greatly enhance your user experience by trimming out everything that doesn’t belong. Good UX is an intricate balance of these three elements. Let’s look at a few tips on getting it right the first time. How to Get it Right The First Time Conduct UX Research Early and All Throughout Development Early user research uncovers ideas and facts. Does the market even need what you want to offer it? Do they already have something they use and love? Why would they switch? At what price would they be willing to purchase your product? What are the relevant features that need to be a part of the product? What are the features that may as well be left out of it? It’s important to test your initial assumptions for the product and the users early on to save costly revisions down the line. On top of this foundational research, once you’ve started developing the product, you can continuously test each update, ensuring a stellar user experience throughout the development process. UX is not the Cherry on Top The user experience design process is not an afterthought but a central objective. UX should feed into every element of your business because users pay attention to it. Products with design at their core are generally easier to use and integrate design across the buyer journey with the product. Design-focused products also enable startups to act on user insights immediately as feedback rolls in. UX is not the cherry on top and something that can be fixed at the end of product development, rather something that continuously needs working on throughout the product life cycle. Bust Jargon and Layer Information No matter how complex your product is, customers like to be able to use it easily. Can they readily find the information they need? No matter which industry or problem you address through your product, you must make information accessible. Good UX understands the information users need, how much of it they need and how to make it easily accessible. In particularly complex industries such as Fintech, much effort goes into making information easy to comprehend. That’s when layering information helps. Starting with the basics and then swooping into more complex parts can help the UX. Understand Drop-offs Early On Identify and address where users drop off from your site, service or mobile app. This information can reveal parts of the product that are challenging, needless or overwhelming for the users. For instance, if users drop off at a particular FAQs section, notice if you’ve stuffed it with long-form content and trim it for easy consumption. It’s also important to foresee where and in what condition your users may be while using your product. That can help add empathy to the user experience, making it significantly more effective. Finally, recognize the data and time users realistically have while interacting with your product and shape the UX to match. Visuals Are Also for the User Your platform’s overall look and feel should complement the user experience and not take away from it in favor of branding. Too much color and personality can be off-putting for your users. So look for places where you can add personality a tad bit more and tone it down in places where you are dealing with, for instance, complicated personal information. All the insight you gain from UX research- customer desires, pains, mindsets- should now feed your design elements. Don’t lose important information in the design. Maintain the Experience Post-Launch Once your product is live and in the hands of customers, it’s important to keep collecting feedback to maintain a product that’s as close to what your customers need as possible. With active maintenance, you can sustain a product that is continuously relevant to the users. Conclusion Startups often fail to get UX right the first time because they value everything else over it. However, UX is an integral part of the development process and often dictates the success of a product. Use the above mentioned tips to create an exceptional UX for your customers. And if you’re looking for UX design services, trust KiwiTech to design an exceptional user experience for you, incorporating modern design principles and yielding a product that sticks.
How Deep Tech Startups Can Tackle Specific Manufacturing Problems With IoT Posted on September 15, 2021January 3, 2022 by Admin Manufacturing businesses went from using physical data to digitized data. Then automation came along and they optimized processes. And now with the Internet of Things, we’re talking about a complete transformation in how manufacturing companies operate. The Internet of Things interconnects components, collects and processes data and yields value-added solutions across the industrial value chain, thus powering Industrial IoT. IIoT is a system of interconnected assets (inventory, equipment, sensors, warehouses, machinery) with embedded software that enables data collection and exchange between those assets. Data suggest that manufacturing will be the most affected industry with a potential economic impact of $3.9 trillion to $11.1 trillion a year by 2025, thanks to IoT. Let’s take a look at the most popular and beneficial use cases being born right now in the manufacturing arena with IoT. How Manufacturing Businesses Create More Value for End Consumers The goal for manufacturing companies today is not just to deliver outstanding products to consumers but to also append those with stellar after services. Besides, cost reduction and efficiency management have always been lucrative for manufacturers. Here are a few use cases that help manufacturing companies advance on those goals- Predictive Maintenance By connecting IoT equipment- that comes with sensors that track temperature, voltages, vibrations and currents- with other devices, legacy systems, IFTTT or cloud/API, manufacturers can capture essential maintenance data. Such data helps to identify the current state of machinery, issue appropriate warnings, and even activate repair and maintenance processes. IoT transforms maintenance from a preventive to predictive activity, helping manufacturing businesses save costs and provide superior customer services. For in-house machinery, this means thorough maintenance schedules, longer equipment lifecycle, plant safety, lesser risk of incidents and overall cost savings. Digital Twins The digital twin technology uses IoT, AI, ML and cloud computing to create virtual copies of physical objects manufactured by a company. When a proof of concept, a minimum viable product and a look-and-feel prototype are infused with the Internet of Things, you get a digital twin of the product so accurate that you can foresee its functionality as well as operational capabilities. Not only that, but IoT also simulates the lifespan of the equipment and spare parts, meaning engineers can test updates, conduct experiments and predict and fix loopholes. When manufacturers get the opportunity to digitally test and validate their products, they save on expensive revisions during the manufacturing process and reduce time to market. Asset Tracking A manufacturing unit comprises huge equipment and machinery that require keen monitoring for better performance and hiccup-free production. Gone are the days of doing that manually. With IoT technology, manufacturers obtain real-time data pertaining to each critical asset through a web or mobile application. All significant assets such as fleet, inventory and resources utilized in the production process can be easily monitored using IoT. This application of IoT helps manufacturers optimize logistics, uphold stocks of work in progress, and uncover violations and theft. IoT-led asset tracking also provides insight into movable equipment entities and their idle time. That means managers can optimize equipment usage for minimal idle time. All of those result in more efficient manufacturing processes and reduced operational costs. Remote Production Control IoT devices in manufacturing facilitate process monitoring and equipment configuration by connecting devices to the cloud and analyzing large-scale datasets to monitor field devices and equipment. All of the captured data when transmitted to the automation system, allows remote controlling of machinery throughout the production process. Distant control systems powered by IoT enable centralized supervision of production machinery with faster insight into the field. That way, employees can ascertain that certain regulations and requirements are met. Finally, the IoT use case in remote production control also helps streamline the production process and be aware of the whereabouts of assets and workers. Benefits of IoT to Manufacturing Companies With all the various use cases covered before, manufacturing companies make significant gains with IoT. Better Decision-making IoT empowers managers with accurate insights and complete, 24×7, real-time visibility into the production environment, resulting in faster decision-making, efficient systems and robust supply chains. Faster Time-to-market IoT creates a direct line of communication between employees and machinery, enhancing productivity and production quality. When that happens, products quickly move from concept to commercialization. With digital twins, products hit the market in exceptional quality and deliver on their promises. Improved Safety IoT sensors and wearable devices foresee incidents and issue warnings, creating a safer work environment and eliminating or reducing the likelihood of incidents. By obtaining insight into the state of all machinery at all times, managers can schedule necessary repairs and maintenance in advance, securing the working environment. Cost Optimization Predictive maintenance, remote production control and asset management all come together to yield significant cost savings for a manufacturer. Manufacturing companies save by improving the efficiency of operations as well as by sidestepping money-draining incidents and loopholes. Better Customer Experience Connected devices and centralized monitoring eliminate human error and prevent the distribution of faulty goods, thus preventing any dent in customer experience. Moreover, when predictive maintenance is deployed at the consumer’s end, it leads to timely maintenance and ongoing value from the machinery without any disruption, adding to the customer experience. The Internet of Things significantly enhances a manufacturing unit. 70% of companies are sure that IoT implementation reduces costs and improves products, according to Cognizant. Deep tech startups wanting to make a dent in the same field can use all of those use cases to tackle specific manufacturing problems with IoT. Learn how KiwiTech’s IoT services can help you take your IoT product from concept to commercial value.
Common Prototyping Pitfalls to Avoid for Startups Posted on September 8, 2021January 3, 2022 by Admin A product prototype is that critical piece between the concept and the final product that dictates how successful a product will be when it hits the market. A prototype sells your product to retailers or investors without you committing to the final product yet. While a prototype never hits the market like an MVP, it lands in the hands of a few users, helping companies steal a peek at how their customers will interact with the product. Further, the prototype helps you test and validate your idea with real users and add features or eliminate from it based on their feedback. Your prototype is a crucial part of the development process. And yet, many startups fail to build one that resembles their vision for the final product. Besides falling short of regulatory requirements, there are a few mistakes startups can steer clear of when prototyping. Let’s look at a few common prototyping mistakes startups make that set them up for setbacks and how they can avoid them. The Most Common Prototyping Pitfalls to Avoid Striving for Perfection Over-engineering, overthinking and chasing the perfect prototype for your product will kill a prototype’s primary function- to get validated quickly and often. Remember, prototypes are built for learning and not for scaling. By spending time perfecting a prototype, startups often miss the point. Prototypes should consume only so much time, energy and cost as is necessary to drive feedback from users. The more you invest in a prototype, the more biased you get toward how it already is and the less likely you are to take feedback constructively and revise the idea to the tune of your customers’ experiences. Find out the cheapest and fastest way to build your product prototype and all the perfecting can come later when you start building the final product. Prototyping Without a Goal It’s a mistake to start prototyping without first pinning down what you want to achieve with it. Do you want to check the flow of the website or app? Who are the stakeholders involved? What’s the timeline of prototype development? All of these answers will act as the north star to the entire activity, steering you back into the lane if you go astray. Additionally, include what success would look like for this prototyping activity. For instance, to one founder, lots of customer feedback on the UX can mean success, while testing the flow might sound like success to another. Prototyping Too Early Refrain your designers from rushing into the prototyping phase without a clear idea of the design solution they will be implementing. The design needs to be worked on before firing up a prototyping tool. The problem here is that a prototyping window forces designers to focus on the alignment and layout and the top-level design thinking is lost. While skipping the design process, you can get biased toward the design solution you come with the first time. And it may not be the best one. A simple way to avoid this mistake is to brainstorm several design solutions with design thinking, involve stakeholders for feedback and come up with mockups and sketches for the main pages before prototyping them. Not Prototyping Interactivity A good prototype allows users to do more than transition between pages. It offers a realistic user experience to engage with. When creating a prototype for user feedback, ensure that the interface responds to user inputs just as the final product. If you want user feedback on expandable menus or navigation flows, then you need an interactive prototype. Additionally, a fully clickable prototype makes the design handoff and development process easier. And finally, an interactive prototype gives your users the full range of functions to interact with, making their feedback all the more valuable. Including the User Too Late in the Process Startups often forget to integrate feedback early and frequently in the prototyping process. One of the easy ways to take a prototype to the next level is to solicit reviews from different people throughout the development cycle. Asking for feedback from other designers, product users and stakeholders late means going in with a huge risk of losing time and money already invested in the prototype. Avoid the mistake of working in a silo until it’s too late and expensive to incorporate feedback. Not Weighing in Opinions That Differ From the Majority As you start gathering feedback from various entities frequently, you find opinions that rather stand out. These rare opinions could reveal something you might not have noticed about the prototype so far. That could include a hidden customer need or specific feedback about navigation or flow in your app. On the other hand, rare feedback could simply mean a bad fit. For instance, you are interested in hearing from software developers and this person is an HR. Assess the feedback that stands out. Is it trying to show you something useful, or is it an opinion from outside your ideal user market? Using the Wrong Technology Another mistake startups make is choosing the wrong prototyping tool. One way to choose the right one is to start with your goal in mind. Do you need a low fidelity or high fidelity prototype? When designers choose a tool they are comfortable with or one that their company provides, they create low-fidelity prototypes with the image-based approach as opposed to the code-based method. Choose a tool that fits your purpose, whether you need a whiteboard and marker or an interactive, life-like prototype with advanced interactions. While there’s no one way to get it right, avoiding these prototyping mistakes will ensure that you have a hiccup-free development experience with the right user feedback built into the final product. Seeking to build a proof of concept / clickable prototype? Contact us for our software prototyping services!
What Startups Need to Know Before Investing in IoT Posted on September 2, 2021January 3, 2022 by Admin As per a recent estimate, 31 billion new IoT devices were installed in 2020. Many startups are taking steps to enter the arena of the Internet of Things. Whether you’re looking to develop a new product or service or augmenting your internal operations with IoT, there are a few things you need to know before investing the first dollar. But first, let’s see why IoT is lucrative and exciting for startups. 4 Reasons Why Startups Invest in IoT 1. Business opportunities There are business opportunities galore for startups wanting to enter the IoT space. Some of these include remote monitoring, smart city projects, assets tracking, and more. All of these applications of IoT have led to successful business outcomes. Having seen proof that IoT has real-world applications in businesses, companies can reposition themselves and launch new products integrated with IoT capabilities. 2. Cost control and efficiency gains The ability to capture real-time data from devices in an intelligent ecosystem allows organizations to balance overhead by cutting operational costs. For instance, in the manufacturing industry, better production and service efficiency can drive continuous activity and reduce downtime and production losses. 3. Workplace Safety When poorly serviced industrial equipment is monitored in real-time, emergency response can be quick. Automated fingerprint scanning for authorized areas can reduce the risk of intrusion. In manufacturing, regular tracking of assets can warn managers of potential risks before incidents happen, leading to prevention. 4. Personalization Data gathered from IoT devices can be used to personalize advertisements and other experiences for customers, leading to improved customer acquisition and retention. Personalization with IoT can facilitate consumer-based marketing to recommend products and services that the customer is more likely to need. What You Need to Know Before Investing Security Liabilities A quarter of consumers who use smart home and office devices are concerned about their security implications. Be it smartwatches, voice assistants or sensors, each faces a unique set of security challenges. These challenges fall into three categories- Device malfunction – When IoT devices have control over mission-critical systems, malfunctions can impact life and property. Cyberattacks – IoT devices rarely encrypt data that flows through them. Even if they do, there’s a perfect opportunity for malicious attackers to exploit vulnerabilities, leading to data and network breaches. Data theft – The volume as well as significance of the data that traverses through IoT devices is irresistible to many malicious actors who use it for advertising products, selling it directly, or stealing online identities for malicious purposes. For a startup wanting to step into the IoT space, it’s critical to understand the security liabilities that come along. Connectivity Issues Before investing in IoT development, startups should mull over how their product or service will integrate into existing systems and sit beside technology from other vendors. While it’s good to have options to explore when consumers, for instance, go shopping for smart home or office devices, it’s a source of frustration when IoT devices stand incompatible with those from other vendors. Overcoming this fragmentation through proper connectivity can lead to a smooth user experience and better chances of adoption when your startup hits the market with the offering. Technical Feasibility Internet of Things applications require installing heavy infrastructure consisting of sensors, devices and right containers for data storage that can help apply that data and turn it into useful insights. As such, IoT development requires proficiency in setting up a network of devices and sensors to work in tandem, capturing and processing huge amounts of data, and turning that data into reports that facilitate decision making. So it only makes sense for any company to ponder over the upfront investment and the technical feasibility of their solution, given the heavy infrastructure required to support IoT solutions. Long-term Utility By 2025, the global human population will rely on over 75 billion interconnected IoT devices. Just as rapid adoption can lead to quick innovation and a rush to create something of significance, it can also lead to solutions that quickly become outdated or replaced. Not only is that a major risk to all the effort and money investment but also to your company’s reputation. Ensure that your IoT development company designs products that are future-proof and reliable for years to come. Security and Maintenance Security aspects of IoT development can never be taken for granted, given the humongous amounts of data that travels through these connected devices. Even when startups are not capturing and using highly sensitive data, the underlying security should be prepared for it. No matter what consumers buy, they will have questions and they will run into issues. Ensure that you have a smooth process to manage the maintenance and upgrades of your IoT devices and solutions to offer an overall smooth experience. As investments in IoT grow, startups should get in for the long term, meaning security and maintenance will have a role to play. Financial Rates of Return The key to ensuring successful IoT investment is to align it with financial rates of return. The initial investment estimate may not cover the full range of ongoing processes. So startups should factor in additional operational costs for each IoT device required during the setting up. Startups should also consider whether an internal transformation is required in terms of the hard skills needed to support the go-to-market of a cutting-edge IoT offering. Several industries, including manufacturing, healthcare, agriculture, and transportation, are experiencing the transforming applications of IoT. KiwiTech is an IoT development company enabling such transformations for our customers. Need IOT application development services? Reach out to us today!
What’s up With Blockchain? Current Trends in the Industry Posted on August 26, 2021January 3, 2022 by Admin At this stage, we all agree that Blockchain not only powers cryptocurrencies but has the potential to solve underlying problems in many leading industries. Companies such as IBM, UNICEF and American Express are all testing applications of Blockchain in their respective industries to come up with cutting-edge solutions. Talking about the state of Blockchain in 2021 warrants that we discuss a few common areas where Blockchain may flourish this year. So let’s see where Blockchain stands as an ecosystem and assess areas experiencing wide-scale adoption and expansion. Areas of Growth for Blockchain Decentralized Applications Decentralized apps or DApps run on Blockchain or peer-to-peer networks without a third-party owner or authority. DApps function as a proof of concept for Blockchain’s long-term impact and growth potential. A good DApp is not necessarily recognizable to be based on Blockchain but is an improvement on what you experience in mobile applications. Therefore, the success of DApp can reinforce the importance of Blockchain in revolutionizing that particular industry. Enterprise Blockchain Enterprises and governments are fueling the rise of enterprise or permissioned Blockchain, which simply refers to deployments of Blockchain that are under the control of a centralized owner. Both establishments increase their focus on three key areas: provenance, identity and tokenization and entities are busy proving that Blockchain can support all three areas. Blockchain can further drive cost reduction and high efficiency, which is also why it becomes lucrative as a technology for enterprises. Investments in Blockchain are forecasted to amount to nearly $16 billion by 2023. By contrast, spending was around $2.7 billion back in 2019. Owing to Blockchain’s obvious application in banking and financial services, the industry is expected to pave the path. More Companies on Blockchain Companies are no longer dipping a toe in the Blockchain waters for fear of investing a lot in the theoretical aspects of research with little real-world ROI. Today, companies are heavily investing in Blockchain and striving to derive real-world returns from the technology. For instance, JP Morgan heavily invested in Blockchain, pressuring other investment banks to follow suit. As Blockchain continues to move from ideation to implementation for businesses, C-level executives will become more willing to see projects through. Additionally, Blockchain’s current success and the need to upgrade most of its applications will expose more companies to the technology, further fueling its growth. The Rise of NFTs NFTs or non-fungible tokens are essentially digital assets in the form of pictures, code, contracts, music that sustain on Blockchain and have value due to their uniqueness. That means when someone buys an NFT, the record of their purchase is captured on a digital ledger forever. These tokens are primarily transforming how artists and creators showcase and sell their work. NFTs came around in October 2017 when CryptoPunks launched. Then in 2020, 30,000 to 80,000 NFTs changed hands weekly. But in 2021, NFTs saw a boom. A recent report states that over $2 billion were spent on NFTs in the first quarter alone, which is a 2,100% increase from the final quarter of 2020. A day before the writing of this article, someone bought clipart of a rock for 400 ether ($1.3 million). Blockchain-as-a-service With giants like Amazon, Microsoft and IBM all developing tools and platforms to enable businesses to leverage Blockchain without the upfront installment and skills expenses, there’s much to look forward to in the as-a-service model of Blockchain. It’s estimated that the Blockchain-as-a-service industry will witness a CAGR of 15.2% by 2026, more than doubling what it is today. Beyond operating as a holder of value, advanced Blockchain implementations allow the creation of smart contracts and other decentralized and trustless architectures. For instance, contracts that automatically execute when certain conditions are met. The as-a-service model will bring these applications to businesses that otherwise wouldn’t be able to afford planning and developing infrastructure to support Blockchain applications. Cryptocurrencies There’s not a dull moment in the world of cryptocurrencies with the mystery surrounding the creator of Bitcoin, Elon Musk’s market-shifting tweets and price volatility that wipes off billions from market caps in minutes. This is a unique asset class where Dogecoin, a joke creation, can rise in value by over 100% in under a year. We also saw Bitcoin hit an all-time high, regulatory talks, and institutional buy-in from major companies. While the industry is still in its infancy, it’s evolving. A lot of focus is placed on stablecoins that eliminate the ebb and flow and uncertainty of most cryptocurrencies. Currently, stablecoins are used to park assets due to high volatility without the need to transfer them back to centralized currencies. In the future, they could operate as blueprints for digital currencies that anyone can use, secure in the knowledge that no single tweet will wipe out their assets overnight. Conclusion There are a lot of promising avenues for Blockchain applications in 2021 and beyond. But for startups, it can be especially lucrative to implement cutting-edge applications based on the technology to either offer a standout product to the market or serve other businesses in serving their customers better. No matter what your vision is to achieve with Blockchain, KiwiTech has the right consultants and experts to help move the needle for you. Reach out to us today for blockchain development services!
How Startups Can Design Exceptional Customer Experiences Posted on August 24, 2021January 3, 2022 by Admin Startups increasingly face rising customer expectations for immediate, personalized and convenient experiences. As digital disruption gets mature and more and more companies venture out to enhance the experiences they offer both online and offline, it can get hard to think of yet newer ways to achieve an edge in the marketplace. Design-led product development and ideation to the rescue. Here are a few design-based principles and steps that startups can take to ensure that the experiences they offer are truly outstanding. Identify and research end users Companies often make presumptions about the solution they are aiming for, the technology that will go into it and what the innovation will mean for the business. However, to do innovation right, it must start with the end user in mind. Starting from a people perspective can make an experience truly customer-focused right from the start. Startups can identify and factor in their customers’ perspectives by asking fundamental questions such as – What does the customer desire and aspire to?What kinds of consumer behaviors can be linked to this solution?What are our target customers’ unmet needs that we can fulfill through innovation and digitization? Factoring in the customer right at the outset can make the final solution that much customer-oriented. Draw inspiration from other industries Creativity and inspiration can become original when existing ideas are put in a completely new context. For that reason, startup founders can look beyond their industry boundaries to find new ideas that can then fit into a new context. An instance could be a hotel company drawing inspiration from executive assistants who proactively fulfill the needs of their executives by anticipating them. When a hotel company applies that to their services, you get an exceptional customer experience where even first-time visitors feel seen and heard when their needs are met before they have to voice them. Define the problem you’re solving Use the research from step no. 1 to ensure that you’re setting out to solve a problem that your ideal customers actually care about. Reframe what you are building from the customers’ perspective to get insight into how your end users feel and act. You may also assign weightage in terms of cost to each problem surrounding and closely related to the one you’re aiming to solve. That will help you further determine which of the problems is the costliest one that your end users are willing to pay you to solve. That way, the customer experience you offer will be centered on a really expensive problem and may or may not happen to solve other less costly issues. Co-create with end users Develop quick and low-budget prototypes for your ideas in the form of storyboards and sketches. Don’t get tricked by perfectionism. What you want to achieve is fast failures and many iterations so that you arrive at the right solution quicker, with the help of your end users. Get target customers involved in the process early and often. Designing standout experiences can become rather easy when you have the end users directly telling what they do and don’t want in a solution. Startups are uniquely positioned to successfully execute this step as they are not bogged down by an existing operational system or technology and are free to experiment and steer the wheel as per frequent feedback from customers. Prototype experiences and business models Besides prototyping the solution or service, also spend time prototyping the customer experience and the related business model. An experience can be prototyped using cardboard models or role-playing. Alternative business model prototyping can lead to insight into value addition, cost-cutting, efficiency improvements and new revenue development. Prototyping business models and experiences can be done in an agile fashion with frequent feedback from the end users. Design an integrated customer experience Combine convenience, personalization and quick servicing to design an integrated and exceptional experience for your users. Design-led product development allows you to integrate the experience across digital and physical touchpoints. Moreover, an integrated customer experience across channels can remind your customers of your brand values, message and core principles no matter how they choose to interact with your brand. Blur boundaries between products, services and environments As startups set out to take on giants in delivering exceptional experiences, there’s a need to realize that the boundaries between products, services and environments continue to blur in order to form an amalgamation to create an experience that’s truly holistic. Consider Amazon- Amazon Echo provides quick access to the company’s services for a smooth and connected experience across all its offerings. And Amazon also opened up physical stores to create yet another touchpoint for its customers. Traditional product companies now venture into the ecosystem space by emphasizing the services they offer instead of the product. Service companies integrate physical products and experiences into their offerings. And companies create environments to go along with their products and augment the experience. As startups think about newer ways to set themselves apart in the market in not just their own industry, these design-led tips to tailor customer experiences can come in handy. Startups need to balance agile, design-focused development with continual refinement of the customer journey. If you are seeking UX design services, reserve a consultation with one of our design experts.