Technology can either be a boon or a bane, depending on how it works for your business. When the .com bubble happened, several startups did really well instantly. However, when the inevitable popping of the bubble happened, a lot of these startups failed miserably. Over the years, while we have looked at case studies of different apps which succeeded, no one really thought of stopping and looking at the apps which failed. Here is looking at some really brilliant apps and startups that should have done well, but did miserably instead.
1. Google Wave
Google Wave, when it launched, was supposed to change the communication game forever. This app was created to help those people who thought communicating on the app store was extremely annoying. While on the front of things, this app looked exciting and promised a lot of change, it failed to make the right mark. A lot of things went wrong for Google Wave, the main reason being not a lot of people knew how the app functioned. Perhaps one of the major mistakes the makers did with this app was that they thought they could ride on the success of Google’s popularity. Unfortunately, Google Wave shut down six months after it came on the app store and clearly, their marketing strategy was not up to the mark!
Credited to be one of the first social media platforms similar to the ones we see today, Friendster came to be in the year 2002. Founded a year before Tom Anderson created MySpace, Friendster secured close to $ 50 million funding from the time of its inception. Friendster grew in popularity because it connected friends to each other and did not let you connect with anonymous people. However, it failed because the makers did not want to ride with the times and kept their user experience to a very basic level. If they had capitalised on the trends at the time, Friendster would have grown to be a really huge success. In fact, when they were at their peak, they had even gotten an offer from Google for a buyout of $ 30 million and had they accepted the buyout, the world of social media would have been quite different today.
When GovWorks.com was founded, it was created with the aim of making everyone’s (from government officials’ to citizens’) lives easier. From letting government officials track their daily activities to letting citizens pay their bills, book tickets and look up information about their city, GovWorks.com had everything in place for the making of a really great connector! However, GovWorks.com failed only 3 years after its inception. Growing from a team of only 8 people in the year 1998, this platform had 250 employees when things started going bad. Disagreements and power struggles within the management, along with the lack of elimination of the software’s bugs caused the failure of this innovative platform.
An example of another app that failed despite receiving a lot of funding, Quixey’s downfall was the perfect example of an app that failed because it got too arrogant with its position in the market. Quixey was designed to become the digital assistant of today, with the main aim of allowing users to find content on the different apps installed on their phones. Immediately after the launch, Quixey raised $ 50 million from Alibaba in a series C funding round. However, once Alibaba’s Initial Public Offering (IPO) went through in September 2014, the e commerce platform started reevaluating its interest in Quixey and decided it wanted out. This is when trouble started brewing and Quixey went under the gun. A couple of years later, with no investments coming through and debt piling up, Quixey was forced to downsize, eventually leading to liquidation.
Aimed to be an innovative photo sharing app between friends and strangers alike, Colour was an extremely innovative app at a time when people were running on the wave of rip offs. With just the right amount of funding to back its idea, a creatively designed website and users waiting to try the new app out, Colour had it all. However, right after it launched, users started realising there was something off with this photo sharing app. Lack of privacy functions and a poorly designed interface were the primary reasons for the growing wave of disappointment in the users. However, instead of trying to fix the bugs, the app came back as an app that let users live stream videos from Facebook. Unfortunately for the makers, while the idea was innovative, the damage from earlier was too great and no one wanted to accept the new change. The lesson here? Fix what is broken and do not try new things till you know it is going to work for sure!
Apps fail all the time but what hurts the most is that if the road map for these apps were planned well, then they could have been massive successes right from the day they were launched!
Technological Trends To Look Out For In 2019
The growing presence of the digital world is impacting not just our lives, but also the major trends in the world. While this past year saw an evolving of artificial intelligence and robotics, the coming year is going to see the presence of brand new trends not just on the digital front, but on the technological side of the world as well.
1. Edge Computing
What started off as cloud computing has now given way to something really exciting in the form of edge computing. Edge computing is here to help solve all the glitches that cloud computing initially had. With faster processing, edge computing can be used in time sensitive situations, with no particular necessity of being connected to a centralized connection. Furthermore, with the increase in the number of devices connected to the Internet of Things, edge computing will have a stronger presence in the world.
2. Artificial and Machine Learning
Artificial learning and machine learning, while a strong part of this year, will be quite worth the watch even in 2019. Although AI has been around since 1956, the last year saw an increase in the number of people around the world connected to devices through AI. Through the increasing usage of AI, technology and digitization evolved to give way to machine learning. Apart from reducing the amount of time spent on work, machine learning is going to be one of the most sought after jobs in 2019!
3. Digital Twins
A digital representation that replicates real life objects, processes or systems, digital twins can be linked to create twins of larger systems such as power plants, or even an entire city. While the concept of digital twins has been around for a some time now, the year 2019 is going to see a stronger, especially with the increasing usage of the Internet of Things. One of the major technological trends in the coming year, Digital twins are going to help in reducing the amount time spent on getting the work done.
A system that allows companies to simplify the process of online transactions with one another without relying on a centralized third party, blockchain is a trend that has quickly picked up in the last year and is going to be one of the forebearers of the change in technology in 2019. Drastically cutting down the amount of time and friction between transactions, the coming year is going to see blockchain being used in various fields like administration, healthcare and manufacturing.
5. Smart Spaces
Designed to give humans and technological systems the chance to interact with one another in open, connected, coordinated and intelligent ecosystems, smart spaces are going to be one of the major breakthroughs in 2019. With technology playing such a massive role in everyday life, smart spaces are going to help in reducing the amount of time which goes into getting the final deliverables out, thereby increasing the time spent on perfecting the already existing processes. With smart spaces, there will be an evolution in technology with a focus on multiple areas like healthcare and real estate!
With this year already seeing a growth of technology toward a different direction, the coming year looks quite exciting. What other trends do you think are going to be there in 2019? Comment and let us know!
Influencer Marketing And Its Relevance In Today’s Marketing World
At the very basic sense of the term, influencer marketing is a phrase that came from old and new forms of marketing. While digital marketing in itself has come a long way from the initial days, this field has now branched into a new form of marketing, influencer marketing. With more than 1.2 billion people always scrolling through the different social media platforms, influencers and influencer marketing has grown to become an important marketing technique. In the present world of digitization, this is why influencer marketing has become such a necessary tool.
1. Targeted development of brands
One of the major advantages of influencer marketing is that it is targeted toward specific brands and specific audiences. Every time you see an influencer endorsing a product you do not necessarily know about, your interest in the said brand is instantly piqued and through that, your desire for finding out more. With specific endorsements, influencer marketing helps in spreading the word to a larger audience and in attracting more people with similar interests.
2. Transparent and effective
By using dynamic influencers and engaging stories, brands are constantly increasing the kind of effect this content has. Furthermore, by using social media to the most of its abilities, influencers use these platforms to redirect customers to their websites. With a unique collaboration of the old and the new, existing and emerging brands are constantly reinventing themselves as a source for new material on a regular basis.
3. Making direct measurement
Instagram recently introduced a new analytics features. This new analytics feature lets brands track performances on a weekly basis and lets owners track data according to very specific KPIs. Also, guided measurements like these help brands and agencies in creating a streamlined process for delivering their content to the world. Further, influencers can also track the kind of response they are getting from the brands as well.
4. Influencer marketing adds credibility to the brand
How many times have you looked at an influencer endorsing a product and realised that the brand they are promoting could actually be of value to you? Time and time again, when you see new faces on the internet clubbed with already known faces, your faith in the credibility of these brands increases. As a user, you are subconsciously drawn into looking at what they are, even if you don’t invest in them.
5. Your brand is introduced to the world as a leader
While this may not be from the perspective of a consumer, when you connect your brand with an established and innovative celebrity, it gives your company an edge over others in the market. Celebrity and influencer endorsement like this says you, as a company, are a trendsetter even before you make it big in the world. Further, consumer studies show that more than 85 % of the world finds new brands through social media and through the celebrities they follow.
Digital marketing is no longer just restricted to one form of getting the word out about your brand on the internet. With influencer marketing becoming increasingly popular, there are now different methods to promote the visibility of your brand. If you think we missed out on any other reasons as to why influencer marketing is important, comment and let us know!
Women Leaders Who Are Changing The World
Women are taking over the world one position at a time and in the last few years, it comes as no surprise that there are more women in influential roles now, as compared to the last few years. Here is a list of women who are ruling the startup world and the tech world by being really great at their job.
1. Sheryl Sandberg
There are several reasons why Sheryl Sandberg is one the most powerful COOs Facebook has ever had. Working closely with Mark Zuckerberg, Sheryl always promoted gender equality in the workplace and became a strong force to be reckoned with by always encouraging women. So powerful was Sandberg’s 2013 Ted Talk speech, that her line “Lean In: Women, Work, and the Will to Lead,” inspired the formation of an organization called Lean In. Apart from partnering with influential companies to spread the voice of women, Lean In also helps empower women and realise their ambitions. Sheryl Sandberg has always been very vocal about her concerns and through the years, she has proven how you can get things done if you really want to make something happen.
2. Kiran Mazumdar Shaw
While an entire company stands in awe of the greatness that is Kiran Mazumdar Shaw, not many know, this lady became the CEO of Biocon without wanting to be one. In fact, she has gone on record and said Biocon was formed as a result of all the gender bias Shaw went through during the early parts of her life. Now, nearly 45 years later, Biocon has grown from just being an enzyme manufacturing company to being the most successful biopharmaceutical company in the country. Helping people fight a wide range of diseases from cancer to diabetes, Shaw made sure Biocon helps in curing ailments which are otherwise extremely harmful.
3. Indra Nooyi
Recently retired after a long and successful reign as the CEO of Pepsico, Indra Nooyi is an inspiration to women all over the world. What made Nooyi so great as a CEO was how effectively she handled her personal and work life. Her motto to achieve success was never taking work back home and to always focus on the main task at hand, a principle which made her reach the CEO position within a couple of years. Her success and dedication to work was so great, she was included in Forbes’s list of ‘Most Influential Women’ in 2008! One of the reasons for her stupendous rise to success was the strong work life balance Nooyi maintained throughout her life, never letting one take over the other.
4. Arundhati Bhattacharya
The first woman to head State Bank of India, the largest public sector bank in India, Arundhati Bhattacharya was instrumental in bringing about a large number of changes in banking. Working toward making the life of women better, not just in the corporate world, but in the other walks of life as well, Arundhati Bhattacharya has lived her life to the fullest, giving everyone around her major life goals!
5. Oprah Winfrey
Growing from having nothing to her name to having the world respecting and knowing her, Oprah Winfrey has come a long way! Now known for being the first African American woman billionaire, Oprah has been popular through the years for hosting a talk show which looks at helping people all over the world. After she started making her opinion public, Oprah grew to become one of the most influential women in the world by accepting her past.
It is now the time of women to come to the top and stand apart from the crowd. If you think there are other women who need to be mentioned on this list, comment and let us know!
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