This Is The Ultimate Guide on Platforms And How They Can Help Your Business.
Find out what platforms are and what they do, and how they can aid your company.
There was a time when the usual business tool belt was stuffed with electronic tools, including the email marketing application here, websites, CMS here, and possibly software to track and manage accounting sales.
In the past 10 years, the software has become more advanced, and consumers are more active and are easier to gain knowledge from … Business owners are now overwhelmed. What was once a manageable tool belt has now become a massive toolbox that resembles what you’d find inside the pick-up truck of a construction worker.
According to a new marketing research study, the typical marketer uses around 12 tools every day. Some are who use more than 30.
This isn’t even taking into account the support, sales, or HR instruments these businesses are using. Wow.
As flexible as technology may be, it solves the problem of managing the various tools’ integration, connection, and alignment. With the abundance of available technology and software, do we even have the chance to go back to the easy tool belt that entrepreneurs of the past had in the past and enjoyed?
Yes, but using platforms. Platforms are essential to creating a central place of reference for all your marketing technology and much more.
We created this guide to help you understand platforms, their applications, and why your company should look into using one.
Platforms aren’t anything new. Platforms are the foundation of civilization and date back to the markets and bazaars from Ancient Rome. Recently, shopping malls, auction houses, and shopping houses have taken over the brick-and-mortar model.
With the rapid development in technology, the platforms are now predominantly digital. Scott Brinker, HubSpot’s VP of Platform Ecosystem, defines this kind of system as “a hub with spokes that connect different products to its central. The hub connects the different products and orchestrates their functions in a single mission.”
A platform allows you to connect teams, tools, processes, data, and information all under one roof, creating that tool belt we mentioned earlier. It’s the core of all systems. It lets you connect all of your favorite tools with ease through integrations.
How do platforms work
Traditional businesses operate on an orderly model of business. In this, they create products or provide services and transact with other companies or consumers. They also control their inventory and allow consumers to have access to them to buy their stock.
Platform companies, on the contrary, operate on a circular business model, allowing transactions between two people without the need for manufacturing, owning, or acquiring inventory. Customers use platforms to buy products or services from others who are platform users.
Platforms have proven to be extremely useful to both investors and customers alike. Did you realize six of the top ten companies based on market capitalization are platforms? It’s true: Apple, Microsoft, Amazon, Alphabet (Google), Facebook, and Alibaba.
It’s evident that in the current economic climate, which a business interacts with is greater than the products or services they produce and offer.
As we’ve mentioned, platforms facilitate interdependent transactions and interactions between interdependent groups. Direct interactions generate demand (from sellers or service providers or the producer) in addition to requests (from the buyer or service seeker or consumer), which benefits both parties.
While traditional businesses generate value through their items or products, platforms facilitate these transactions.
Here’s what a typical transaction will look like:
The success of a platform depends on more than the transactions. Platforms also need to draw producers and consumers, facilitate matches between the two groups, offer the appropriate technology to help a transaction, and maintain the rules and regulations that safeguard both the parties involved and the platform itself.
Here’s how the process of each of the four functions usually will look like:
The business model of platforms has changed how we do business and technology in how we think of it. Here are some reasons to think about.
1. Platform business models expand faster and can scale faster.
Platforms that adhere to the media’s business model can expand or increase since they need the resources that generate worth, i.e., the content, applications services, providers of content, or products. Their development isn’t dependent on capital or resources.
2. Platform business models create a reciprocal, autonomous, self-sufficient community.
Platforms that operate on this model benefit from “two-sided net effects,” in which demand comes from the supply of sellers and buyers, as well as users and providers or creators and users.
This results in fewer advertising dollars (to attract purchasers or sellers) and more robust marketing through word-of-mouth. This creates a “win-win” situation, which gives both the business of the platform and sellers and service providers the to make money from the users.
3. Platforms address problems with connection and efficiency.
We are marketing professionals (or people who sell or as support reps) who use hundreds of tools daily. As of 2018, more than 7,000 companies offer marketing technology globally. Platforms provide a central location for the tools and software we employ to expand our business, connect with our clients, and work with the teams we work for.
Energy and time are two of the things that companies need more time for. Platforms that adhere to the business model of platforms are the one-stop shop for all user’s daily procedures.
We’ve identified a platform, and we’ve discussed the ways media can have a significant impact on business. The next step is to discuss actual business models for platforms, their effects, and how they’ve grown into successful companies.
Platform Business Models Examples
What happens to platforms in your daily life? Surprisingly, you’re using much more media than you think. Let’s look at some examples of business models on platforms to help you improve your knowledge on the subject.
If I am planning a trip and deciding where is the best place to go, the first step I take is to hop on the Airbnb application. You can visit websites such as Hotels.com and Google to look up accommodations (which also have platforms); however, I always opt for Airbnb. Why? It’s not just that it allows me to “live like an authentic local” wherever I go. It’s also reasonably priced and gives me many lodging options.
Airbnb is revolutionizing the lodging and hospitality industry. As a company with no properties, the company has outperformed some of the most well-known hotels.
Airbnb is also thriving thanks to its suppliers, regular people just like us. Airbnb customers (guests) are attracted by Airbnb sellers (property owners), which creates an ecosystem of reciprocity that benefits Airbnb and its users.
Similar to how Airbnb doesn’t have all of its properties, Uber does not own vehicles … but it has given taxis an uphill battle. It’s indeed more affordable, but it also provides a far more advanced and possibly more secure experience. Riders can pay with a digital card, split the cost with fellow riders, and follow their journey to their final destination.
Uber drivers also get benefits. They are in charge of their driving schedule, can also enjoy frequent rewards, and can locate passengers wherever they go — without the need to wait at an airport taxi stand or in lengthy lines.
The Uber platform is an excellent solution for both. Through the management of ratings, payment, and all dispute resolutions, Uber makes it easy to operate as both the driver and rider, and it only takes a small portion of the profits.
You probably weren’t aware that Facebook is an online platform. Please take a look: Facebook produces no original content and has no media … however, it is a data collector and earns colossal advertising revenue. What a brilliant idea. In reality, you could think of almost any social network similar to Facebook.
In creating a joyful, interactive environment for users to interact and share their content, Facebook has built one of the top platforms today. Content made by Facebook users is a magnet for others who produce more material … and on and so forth. Facebook perfectly illustrates a platform’s reciprocal effects on networks that generate a potential for monetization for the platform.
Amazon currently sells more than 12 million products to more than 200 million visitors monthly. That number doesn’t even include wine, books, media, services, or books.
What’s more interesting? Amazon does not own the majority of the products they offer. It does hold storage space, advertising space, a few product lines, and transport trucks… However, it mainly sells other businesses their inventory. It facilitates (easy, quick, fast, and affordable) transactions between buyers and sellers.
Additionally, Amazon brings in billions in revenue from advertisements, seller fees, and Prime memberships.
The medium was a significant hit in the online publishing scene when it came out in 2012. Writers, bloggers, and journalists were able to publish their content via the web (without costs) without having to think about hosting a site or having their work approved by editors. In reality, many news organizations and sources like Sports Illustrated and the White House have also begun writing content for Medium.
It became a free platform for all, and readers gained the same way. Users could go to Medium and browse a range of fresh and new content from thousands of authors. As a site, Medium manages its website … and that’s all it is. The medium doesn’t produce any content on its own or employ writers. It connects writers and readers to produce and consume great content.
The year before, HubSpot announced that it was changing its model into an “all-in-one suite to an. an all-in-one platform.” It’s also expanding to implement hundreds of additional integrations to assist customers and quickly expand its toolbox rather than requiring users to integrate and learn more dispersed systems.
In essence, more disengaged software creates increased user frustration (and discontent). People are using multiple tools that don’t connect or use outdated platforms that can’t meet the needs of today’s buyers (a.k.a. your clients). HubSpot is working to correct that.
The HubSpot platform allows you to connect seamlessly with your teams, tools, process, data, and processes to provide seamless experiences to your customers.
Get Better Results Through Platforms
Platforms have changed how businesses conduct business and other companies conduct business. They connect producers and consumers, help create a beneficial network, and address many efficiencies and connection problems.
If you struggle with various marketing instruments, think about using an online platform to streamline your teams, tools, data, and procedures. While you’re at it, keep on the lookout for platforms you’re working with. You might be amazed by the number of platforms you use every day.
Seven YouTube Tips and Strategies to Grow Your Business.
YouTube is an effective instrument that companies can make use of to expand their reach and expand their customer base. With more than 2 and half billion active monthly users, YouTube provides businesses with an enormous platform to showcase their goods, services, and brand messages. With such a massive and popular user base, It can be difficult to stand out from the other videos and have your video seen by prospective customers.
This is why we’ve compiled the following list of seven suggestions and strategies that you can make use of to expand your company’s presence on YouTube. From optimizing your YouTube videos to ensure SEO and adding annotations and ending screens to entice viewers to act, These tips can enable you to get the most value out of YouTube and increase your revenue.
Seven YouTube Tips and Strategies to Expand Your Business.
Optimize your Videos to be SEO-friendly
If you would like your videos on social media to be seen by prospective clients, you must improve them to be optimized for SEO or search engine optimization (SEO). That means you should include relevant keywords within your titles and description so that your videos will appear more prominent on search results. It is also possible to use tags in your videos.
Can add tags to make videos more optimized for SEO.
Tags are words you use to identify your video. YouTube utilizes these tags to categorize and index your video content. By making a bit of work and effort, you can ensure that your videos on social media are doing their best to work hard to bring new viewers to your website.
Utilize End Screens
Screens, in the end, are an enjoyable and effective way to advertise your other channels, videos, and websites. They can also serve as a guide and make it easier for viewers to subscribe to your channel or share your content. To add an end-screen to your YouTube channel, you must visit the YouTube Studio and click on the “End Screens” tab.
In the next step from there, you can incorporate images, texts, or videos to advertise whatever you’d like to. Be sure to ensure that the ending screen appears towards the very end of the video and does not interfere with your viewing experience. If you’re creative, screen endings can prove to be an effective instrument for boosting the popularity of your Youtube channel.
Create Engaging Thumbnails
The most significant but still largely ignored element in your video is the thumbnail. It is the first impression people see as they view the video. Therefore it’s vital that it’s attractive and interesting. It’s good to know that there are a handful of steps that you can use to ensure that your thumbnails are top-quality. Choose images which is appropriate to the content of the video and which will draw people’s interest.
Make sure that your image is at a high resolution. Then, make sure the image is of high quality and resolution. After everything, the goal is for the viewers to be able to clearly see the things they’re clicking. Also, you can add text to the thumbnail. It may be the title of your video or catchy slogan, or any other thing which will draw the attention of viewers. If you follow these steps by following these steps, you can make sure your thumbnails will be able to get more views and increase the number of views on your YouTube channel.
Leverage Social Media
If you’re the proprietor of a small or perhaps a mid-sized company, You’re likely aware of the importance of promotion. It is crucial to bringing customers and increasing sales. There are several ways to promote your product or services. However, the best and yet the most affordable is by using social media. If used correctly, the platforms can aid in reaching many people and increase the visibility of your content for a larger public.
How can you utilize social media to market the popularity of your YouTube videos? Make sure you publish your videos on each of your social networks. This can help boost the exposure of your video and ensure that they are noticed by the maximum number of people possible. Consider also making use of paid-for promotion tools, for example, Facebook advertisements or tweets that are promoted by Twitter.
They allow you to focus on a particular group of people and greatly increase the exposure of your content. Remember to add hyperlinks to your videos within the signature of your email Signature and on your site. If you take advantage of each of these channels for promotion that you can use, you can significantly improve the number of viewers who watch YouTube video content and increase visitors to your site.
Work with other YouTubers
One of the best and best methods to gain increased views on YouTube videos is participating in collaborations with YouTubers with an audience similar to yours. There are several different ways that you can explore collaborating with other creators using YouTube.
As an example, you can create a Q&A joint video and host one another in videos, or make sure you promote each other’s content through the videos you make. One of the most crucial aspects is to identify a YouTuber with a similar market as you do in order you can get new viewers via the channel.
If you’re looking for a guaranteed amount of visibility for your YouTube videos advertising with paid advertisements is the best option. YouTube has options for ad formats. They include in-stream ads (ads that appear before and after, as well as during the content) as well as discover ads (ads that appear in the results of searches or are used as suggestions), and bumper ads (short non-skippable, short ads). Advertisements that pay are an effective method to increase the number of viewers to your content since they place your videos in the hands of people who are already curious about your content.
Make use of Copyright-Free Music and SFX.
Music that is free of copyright and royalty-free music and SFX can provide great methods to add an additional dimension of excitement to YouTube videos. There are several sources of copyright-free music and SFX available online, and many of them are accessible for use at no cost. It is important to be aware of the conditions of each source prior to making use of any content from them.
Some sites may ask that you attribute your music and SFX to them. However, others permit you to utilize it with no attribution. After you’ve identified an option you’re happy with, take the music files as well as the SFX files and incorporate them into the video. With a small amount of thought and preparation, you can quickly add copyright-free music and SFX to YouTube videos and provide them with the professional look you’re searching for.
The End of the Story
These are some of the strategies you can utilize on YouTube to increase your sales and profits. If you are willing to put in the effort and energy, you’ll be stunned by the speed at which you’ll see your positive results! Making a YouTube channel successful requires patience, perseverance as well as creative thinking, and some trial and trial and time at the end of the day.
Do You Want To Use Your Home As A Business Location? There are 5 Things To Consider.
We’ve discovered through the COVID outbreak that many of us can work in the comfort of our homes. This is why there’s been an increase in the number of people who want to make their Home for business purposes.
Making your Home an office space has many benefits. In the beginning, you’ll lower costs, such as rent and other rates. Additionally, you’ll be in control over the working conditions.
However, it’s not smooth sailing. There are some drawbacks to be conscious of. This article will explore certain things to be aware of before utilizing your house as an office premise.
5 Reasons to Think About Using Your House as Your Business Location
1. Know the difference between Converting your Home to work from the comfort of your Home
First, you must know the differences between turning your Home into commercial premises and working as an employee from at Home. If you’re running an enterprise from Home and want to expand your business, it’s necessary to modify your Home to make room for the situation.
Know the difference between converting your Home into a Work From Home. For instance, you might have to create an area for work with distinct phone lines and internet connectivity and ensure that your insurance policy will cover business-related actions.
2. Take a look at the legal aspect
Additionally, there are legal issues that you have to be aware of. As an example, you’ll have to consult with your local authority about what you have to do for planning permits or permits.
It is also necessary to ensure that your company complies with all relevant laws and regulations regarding health and safety. In addition, if you employ employees who work for you, you’ll have to follow the rules regarding employment.
Zoning regulations are yet another factor to think about. The regulations may differ between different areas, and it’s essential to determine the laws for your specific area.
3. Think about the financial implications
There are various issues with finances you’ll need to be aware of. In particular, you’ll have to ensure you’re still in the tax-free zone or benefits for which you have a right.
Are You Planning to Make Your House a Business Location – Five Things to Think about – Consider the financial implications of how your homeowner’s insurance affects your company. If you’re a homeowner with any mortgages on your Home, it is essential to inquire with the lender to determine their restrictions regarding using your Home to run a business.
4. Consider the practical implications
Consider thinking about how your company can impact family time. Also, it is essential to consider the noise level, parking, and deliveries. Also, you must ensure that you have sufficient space to allow for the growth of your business.
If you are dealing with products you want to wrap or ship and then keep, you must ensure you have enough storage space. Suppose you decide to go using top-quality custom packaging by StickerYou. In that case, it is essential to consider the area for the packaging products and the room needed to pack and transport them.
Also, it is essential to consider where your customers can collect their items if you provide local delivery or pickup in-store.
5. Think about the Tax Implications
If you are using your house as your office, it is necessary to inform HMRC that you are doing so. Also, you will need to consider how your company will be taxed.
In other words, you must be taxed on income profits even as a sole trader. If you decide to create a limited-company and are a corporation, you must pay tax on your earnings.
Be aware of the tax ImplicationsIn short, changing your house into a commercial location can be a fantastic option to cut costs and gain more control over the working space. However, it is essential to take into consideration a number of factors prior to you making the move. When you’re sure you are able to handle the consequences, then you are able to enjoy the advantages.
How Does Business Car Leasing Function?
Suppose you want to enhance your professional profile or benefit from the tax advantages of business cars. In that case, leasing can be a straightforward and economical way to access high-end vehicles for yourself and your employees.
For entrepreneurs who are sole traders or limited companies, as well as those who are in fixed partnerships and limited Liability Partnerships, a business lease car lets you change your car’s model every couple of years at an affordable monthly fee.
In this article, we’ll detail how business leasing deals for cars are made, how they differ from personal leasing, and how you can cut costs through a lease for a business car.
What exactly is business car leasing?
Instead of purchasing a vehicle for yourself, leasing a business vehicle lets you access brand-new cars with a fixed monthly fee, which is typically spread over one and five years.
Since you’re not paying for everything associated with the car, a company car lease is cheaper than other forms of finance, such as Hire Purchase. Additionally, if you use the vehicle only to travel for work, you are entitled to reclaim 100% of the tax on rental payment and servicing expenses, as well as miles and fuel. Any personal use of the car will decrease the amount of VAT you could claim back.
What is the process for leasing a business vehicle? Operate?
Models and makes available vary depending on the provider; however, whether you require an executive vehicle or a transport van, leasing a business vehicle can help you locate an automobile that meets your needs at a meagre cost per month.
To qualify to be eligible, your company must operate, be able to show solid results and undergo a credit screening to confirm that you can pay the lease’s monthly payments.
At the beginning of your lease, you’ll have to make an initial payment of between 3 and 12 monthly instalments, which are later deducted from the total cost of the lease. This will be called ‘6+23’, meaning you’ll pay 6 months in advance and the rest over 23 equal instalments.
It is also possible to agree on a maximum annual mileage for your vehicle with your supplier, which could vary from 8,000- 40,000 miles per year. If you are more than this number, you’ll be required to pay an extra mile cost, so make sure you’re realistic in your estimate and, in the event of a mishap you’re unsure, allow yourself some breathing space.
Leasing for business vs personal
The most significant difference between commercial vehicle leasing and personal leasing is the possibility of claiming the VAT back from your monthly rental payments and a maintenance charge, which can help you save as much as 20% off the expense of an equivalent vehicle on a personal lease.
But the moment you utilize your car in a mix of personal and business trips. However, you’ll only be able to claim a small portion of the VAT. If your employee uses their car for private motives, they’ll need to pay a tax on benefits-in-kind that is calculated and determined by the price list of the vehicle and the CO2 emission. The lower the emission and the less tax they pay, the less.
Pros and cons, as well as tax advantages
- Cost-effective: access new vehicles for a minimal monthly cost and claim VAT
- The leasing company absorbs the expense of depreciating the value of your car, which means you won’t be charged.
- Make sure to write it off against your income – it is possible to include your leased car in your balance sheet and then write it off against the profits.
- Charges if you over the miles, return your vehicle in a damaged condition, or do not maintain it correctly. You’ll be charged.
- The vehicle must be returned to its original condition, and you will not be permitted to change it or label the car in any manner.
Some insurance companies provide ‘complete care’ plans. If not, you’ll have to take responsibility for taking out an appropriate insurance plan. It is important to note that the leasing firm is the owner registered to the car. If you don’t, it may make any claim unenforceable.
The next step
The problem is that new vehicles are costly and could be wiped out by the majority of their initial value in three years. For small businesses with strained margins, leasing cars let you enjoy a brand-new vehicle at a fraction of the price.
Alongside benefiting from the most recent technology and security features, you and your team can present an impressive image on the go and access various vehicles that can meet demands. Make sure you are realistic about the amount of mileage you’re planning to drive and look around for the most affordable price.
Seven YouTube Tips and Strategies to Grow Your Business.
Do You Want To Use Your Home As A Business Location? There are 5 Things To Consider.
How Does Business Car Leasing Function?
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