11/16/2020 at 10:50 •
Regular crowdfunding vs. crypto—what’s the difference between these two? Well, most people have a challenge in differentiating these two, and we shall make it easier for them in this post. But first, let’s define these two terms:
- Crypto funding – also known as ICO (Initial coin offering), is a distribution event for tokens that are hosted on a blockchain. During ICO events, people can buy tokens, in exchange for normal cryptocurrencies, like Ethereum and Bitcoin.
- Crowdfunding – this also resembles crypto funding. Here, a startup announces a business idea and then releases a date to fundraise for the idea. Before the crowdfunding campaign starts, the startup releases information about the idea, and why the market needs such an idea. Now, when the crowdfunding campaign starts, the startup starts accepting contributions from backers or investors. In case the funding threshold is not met, the startups refund the backers.
With that, let’s look at the differences between crypto funding and regular crowdfunding.
Both crowdfunding and ICO are accessible to the public. However, most crowdfunding campaigns are geographically limited to countries where the crowdfunding platform can operate. For instance, you can only access Kickstarter if you are in the US, UK, Canada, New Zealand, Australia, and a few other countries. That means you cannot access this platform if you are not in any of those countries, and you cannot accept contributions from anyone outside those countries too.
ICO, on the other hand, is hosted on a blockchain. Today, Ethereum is the most common platform for ICOs, as it makes it easy for people to create and trade tokens. Besides, you can access the Ethereum network from anywhere across the world. However, some countries like the US and China have restricted some ICOs.
ICO investors are also users of the product
When you invest in ICO, you buy tokens, which gives you the rights to the product or service offered by the company. As an ICO investor, you neither get a stake in the company or any rights to the company’s profits. That makes you not only an investor but also a user or customer of the company’s product.
For crowdfunding, on the other hand, leads to the creation of a tangible product or project. However, the campaign creator is the one who determines how they can reward the investors. Mostly, an investor can get voting rights or a profit share of the product. In the event they get an interest paid depending on the amount invested, it’s known as crowdlending. Thus, the value of your investment depends not only on the success of the project but on the reward system too.
The success of ICOs hinges on how the market sees the market token value
Typically, an ICO doesn’t create a physical product. Rather, it creates a digital product that’s publicly traded. Thus, to get investors depends on how the market sees the value of the toke that they get. The market value, as well as the value of ICO investment, is greatly determined by the anticipated future usability of the crypto crowdfunding platform.
Besides, it’s the responsibility of the issuing company to token’s initial value. However, it is a big challenge to predict the future success of a pre-ICO. Because of this, tokens can be easily over- or under-valued.
Crowdfunding, on the other hand, allows investors to receive rewards depending on their investment. However, you cannot find a secondary market to trade crowdfunding perks, unlike for ICO tokens. Thus, investors can’t get any capital gains when they sell their investment.
However, you should also note that there are two sides to the coin—although ICO has higher risks, the potential returns are also higher.
Another major difference between ICO and crowdfunding is how they are regulated. Because ICO and crowdfunding campaigns require comparatively small dollar amounts, and donors don’t expect ROI, they are mostly unregulated. There are no serious regulatory consequences...Read more »
11/16/2020 at 10:44 •
Despite the prevalence of various instant messaging apps and social networks, email remains the most trusted form of communication. There are about 4 billion email users globally and this number is projected to grow to around 4.5 billion by 2024. Roughly 306.4 billion emails are sent and received daily in 2020. Users open their account at least once a day and spend around 5 minutes on emails.
Considering its wide adoption, email marketing continues to be an effective marketing strategy employed by different industries. Businesses and brands use this marketing channel to engage with their target audience, showcase their products, offer promotions, and convert leads to sales.
With an engagement rate of 22.86%, a vast majority of marketers consider email as a vital communications channel. The email engagement rate is significantly better than the average social media engagement rate of 0.6%. Considering the effectiveness of email marketing, it’s not surprising why 9 out of 10 marketers utilize this strategy to reach their audience.
Although email marketing has an impressive return on investment, running a campaign does not guarantee success. Simply sending emails to as many email addresses won’t generate leads and increase sales. If your email marketing strategy has lackluster results, chances are, you’re not doing it right. Here are some pro tips to help you get the most value out of your campaign.
Create meaningful content and track results
When it comes to email marketing, content is king. Focus on creating and distributing meaningful content that will add value to your subscribers. The key is to establish authority in your niche which will enable you to influence your audience. Keep your subscribers satisfied and interested by combining discounts and freebies with authoritative content.
Regularly evaluate the effectiveness of your promotions and content by checking your campaign metrics. Some key indicators to check are the open rate, engagement rate, and conversion rate. Use Google Analytics for comprehensive data and analysis of your marketing campaign.
Don’t sell your product in the first email. Consumers want to buy from brands they trust, so you have to earn their trust. Initially, you should send emails that aim to get acquainted with your audience. Send targeted and personalized messages, do fun quizzes, and communicate frequently. This will help build rapport and trust. Keep your content interesting so they will look forward to your next email. Get your subscribers to take actions that will be useful for them, even if it won’t have direct value to your business. This adds to your credibility and trustworthiness to your brand. Gradually building their confidence in your brand is vital in the success of an email marketing campaign.
Consumers have a very short attention span. Always keep emails focused, concise, and straightforward. The main points and call-to-action should be on the first page. You don’t want them to scroll through the email (they won’t do it.) Emails that are too long can turn off potential leads. They can also bombard your readers with information that won’t matter to them. Avoid sales-y messages as they might flag you as a spammer. Ideally, you should hire an experienced writer for great content. While this might cost you a few hundred bucks, it is a worthwhile investment.
Build a strong, clean list
Gone are the days of mass emails. Developers of email validation solution by Byteplant emphasized that sending thousands of emails to unwilling recipients is not only useless but also detrimental to your campaign – and your brand in general. You can be tagged as a spammer and this can take a dig on your reputation.
To ensure success, you should reach out to the right audience. These are subscribers who will be delighted to receive updates and email offerings from you. Execute list building techniques such as on-site techniques (landing pages, sign-up notifications, and pop-ups),...Read more »
11/16/2020 at 10:37 •
If you’ve decided to order custom software for your company, you need to dive a little deeper into the development details. Since software development is a formidable investment, it requires close collaboration between the developer and the client.
Regardless of the methodology the company is using, it’s up to the client to show their willingness to be involved in the process. The more details you provide about your project, the better outcome you can expect.
Let’s take a closer look at the software development life cycle (SDLC) to give you a better understanding of the development process.
What is Software Development Life Cycle?
The software development life cycle involves producing high-quality software at the lowest cost within a reasonably short timeframe. SDLC is a set pf phases that helps developers produce top-notch software to satisfy the client.
The SDLC includes seven phases:
· Requirement analysis
· Operation and maintenance
The most common models are waterfall, agile, and spiral. While each model is different, they are all made up of the above phases, which makes the development structure and process easier.
How Does SDLC Work?
The main goal of SDLC is to lower the cost of the development process while improving its quality and reducing the production time. By following a clear plan, it’s possible to remove the typical problems, avoid common errors, and achieve top results for the majority of software development projects.
The SDLC process starts with identifying problems with the existing software, if any. If you are ordering custom software for the first time, the development team may want to analyze the pitfalls you experience with off-the-shelf apps.
Then the team identifies the requirements of the new system. To do that efficiently, the developers must take the time to learn about your company’s needs and requirements. Your initial list of demands may not be complete without a professional evaluation of the entire work process.
The next stages involve careful planning, design, development, testing, and deployment. The SLDC approach is excellent for anticipating costly errors like failing to ask clients for regular feedback. It can eliminate extra expenses while providing top-notch results for the client.
According to experts at Entrance Consulting, SLDC puts a strong focus on the testing phase, which depending on the methodology, can be done on a regular bases. Such focus can help eliminate mistakes timely to avoid formidable expenses. The quality of code is ensured at each development cycle.
What Are the Key Stages of SDLC?
Let’s take a closer look at each of the stages of the software development lifecycle:
· Requirement Analysis – determines what the app is supposed to do, and what the client’s requirements are. It can also include defining the resources needed to develop the program.
· Planning – during the planning phase, the development team leader and the client determine the terms of the project. It involves signing a contract, calculating costs, setting a timetable, discussing goals, and the like. Planning must define the scope and purpose of the software and plot the course for the team to develop it.
· Design – this phase models the way an app will work. Some of the main aspects of the design phase are architecture, UI, programming, communications, and security. Prototyping can also be part of the design phase. It can give the team and the client the basic idea of what the app looks like.
· Development – this is the actual coding phase. It...Read more »