What is Airbnb?
Airbnb is an online marketplace connecting travelers with local hosts. On one side, the platform enables people to list their available space and earn extra income in the form of rent. On the other, Airbnb enables travelers to book unique home stays from local hosts, saving them money and giving them a chance to interact with locals. Catering to the on demand travel industry, Airbnb is present in over 190 countries across the world.
Founders, Funding received, Salient features & Facts:
Founded on 1 August, 2008, it grew as a technology masterpiece in a short span of time. Having received a massive fundings, It is a part of the Billion dollar club. Here are few interesting facts-
- Founders: Nathan Blecharczyk, Joe Gebbia and Brian Chesky.
- Funding received: $4.4B (Till December 2017)
- Company valuation: $31 Billion
- Present in 34,000+ cities across 190+ countries.
- Having 1.2 Million listings, the company has served over 35 Million guests.
- Headquarters: San Francisco, California, USA.
- 140,000+ people stay at an Airbnb listed place everyday.
Before moving on to read about its customer segments, value propositions and understanding its business model canvas, lets go through the Success Timeline.
- Enables owners to list their space on the platform and earn rental money.
- Airbnb provides insurance to listed properties.
- Gives cheap options to travellers to stay with local hosts.
- Facilitates the process of booking living space for travelers.
- Rating and review system for hosts and guests.
- User-friendly app and web based structure.
The 3 customer segments defining Airbnb’s Business Model
- Hosts are the people who own property and want to make some money by renting out their available space.
- They can create a listing for their property on Airbnb, add property details and set their own rent, check-in, check-out time etc.
- Hosts can accept or reject a booking after reading the reviews of the travellor or after going through his social profiles.
- Travellers are the people who book the listed available spaces from local hosts.
- Travellers have the option to search for a property by filtering them according to rent, amenities provided, location etc.
- Travellers can book a space by paying through the portal.
- Airbnb has a vast network of freelance photographers in all major cities of the world who go to a location and click high-definition photographs of the property.
- The high quality photographs get more responses and the freelance photographers are paid by Airbnb directly.
Airbnb Business Model Canvas
The business model canvas of Airbnb explains the key partners, key activities, key resources, value propositions, customer relations, channels and customer segments of Airbnb. Along with this, the cost structure and revenue streams of Airbnb have also been listed. Check it out:
The 5 step model about how Airbnb works:
- Hosts list out their property details on Airbnb along with other factors like pricing, amenities provided etc.
- Airbnb sends a professional photographer (if available) to the property location in order to take high quality photographs.
- Travellers search for a property in the city where they wish to stay and browse available options according to price, amenities etc.
- Booking is made through Airbnb where traveller pays the amount mentioned by host and some additional money as transaction charges.
- Host approves the booking. Traveller stays there and finally Airbnb pays the amount to the host after deducting their commission.
The host and the traveler can rate each other and can write reviews based on the experience.
Revenue model: How Airbnb makes money?
Airbnb offers free listings to property owners and let’s travellers browse the listed spaces and select the one which best suits their needs on the platform. The business model of Airbnb is such that the booking and monetary transactions are done on Airbnb’s platform. This is from where the company earns its share of revenue from 2 different sources which have been explained below:
- Commission from Property Owners (Hosts)
Airbnb charges flat 10% commission from hosts upon every booking done through the platform.
- Transaction fee from Travellers (Guests)
Airbnb charges 3% of the booking amount as transaction charges from travellers upon every confirmed booking.
How Airbnb finds customers?
A customer for Airbnb is the one who adds up to the company’s revenue. He can be a host who offers his space for rent and lists it on the platform or he can be a traveler who books a space. So, from where does Airbnb find hosts and travellers? Well, Airbnb was founded in year 2008 and its first customers came through a simple website built by the owners. Since then Airbnb has grown into 1.2 Million listings on the platform. The major sources to accumulate hosts and travelers include:
- Social Media
- Word of Mouth
- Digital Marketing including Internet ads.
- Promotional offers
- Affiliate Model / Refer and earn offers
Key problems and Solutions:
- Trust Problem:
The biggest problem faced by travelers or hosts using Airbnb is the trust factor. After all giving your space to a stranger as a host and living with strangers at their place as a traveller might not be easy. But the verification process is in place for every host and traveler on its platform. Apart from the verification badge, Airbnb also motivates people to sign up with their Facebook account or at least link it with their account for better transparency.
This is not all. In case something goes wrong, an insurance policy is available too.
- Traveler Retention:
Another problem being faced is the retention problem. In order to grow, the company needs to retain its travellers so that they do not choose a hotel on their next vacations. In order to retain them, it gives offers, promotional codes and credits to frequent travelers. As a solution to this problem, it also sends such promotions to hosts as to motivate them to take a vacation and stay in an Airbnb at their favourite destination.
The Future of Airbnb:
Airbnb is already a multi billion dollar company and is sure to grow further. Having a presence in 190+ countries across the world, it is now concentrating to further increase the daily transactions on its platform. The unique business model of Airbnb has become stronger as people prefer staying at an Airbnb inn rather than a hotel.
Get in touch with us and know how we can help you own the next Airbnb Clone!
Download the free eBook ‘On Demand Economy Business Model 101’ now!
Last mile delivery is the most critical leg of the shipping journey. A couple of years back, no one would have imagined having same-day delivery, yet owing to last mile delivery software solutions, it is now a reality. However, last mile logistics is the most expensive phase as well; it consumes over half of the overall delivery expenses.
So, in order to ensure a successful last mile delivery, you have to bank on a delivery logistic platform that is cost-efficient and makes error-free on-time delivery. Digitizing your last mile delivery enables you to automate and streamline all your business operations thus improving efficiency.
Moreover, in this fast-paced world, everything is resorting to software and technology to operate itself effectively, and e-commerce is no exception. Recent studies suggest that by 2040, 95% of retail purchases will be made online and conventional retail may hardly exist.
Last mile logistics need to be up-to-date with state-of-the-art software so that the entire operation becomes significantly smooth. In this article, we will dive into some of the best last mile delivery software that can have a tremendous impact on last mile logistics.
Tookan empowers businesses to cut through the noise in this customer-specific age with automation, optimised routes, real-time monitoring, and effective movement of parcels for both B2B and B2C segments.
It is a fully personalized end-to-end field management solution to manage business resources. Not only does it streamlines all your business processes but also saves cost and time with its smart dispatching system. The platform offers a manager dashboard and an agent app with features such as barcode scanning, alerts and notification, and geo-analytics-driven reports.
LogiNext’s Mile Platform has garnered a huge uptick in market adoption since the COVID-19 outbreak, which brought supply chain automation to the centre stage.
The software solution is used in several industries such as e-commerce & retail, transportation, fast-casual and quick-service restaurants (QSR), and courier, express and parcel (CEP). It comes with numerous features including, route optimisation, first/middle/last mile delivery and optimization, and live order tracking.
GSMTasks offer a last mile delivery software solution for all sorts of delivery services equipped with personalised options tailored to your business needs. Its leading-edge delivery management software makes it easy for technicians and couriers to handle and assess their deliveries and tasks.
The entire package includes a real-time web dashboard for the dispatchers, an intuitive mobile app for the drivers, and automatic SMS notifications and driver tracking for consumers. The application programming interface (API) enables integration with the existing systems including, warehouse, Customer Relationship Management (CRM), and so on.
Bringg’s platform digitizes your overall last mile process, building competitive fulfilment services depending on your own business objectives and key performance indicators (KPI).
With Bringg’s robust delivery software, restaurant delivery services and restaurant outlets can now easily meet and surpass the on-demand expectations of their consumers with regards to operational efficacy and customer experience.
One of the best last mile delivery companies, Onfleet is a no-brainer for any critical last mile delivery process. Its last mile delivery platform not only helps businesses improve their delivery capacity by 50% with their route optimization engine but also enhances customer experience and on-time rates through precise real-time transparency and the estimated time of arrival (ETA).
Onfleet powers tons of deliveries each month for thousands of businesses ranging from restaurant, grocery, and flower delivery to e-commerce and pharmacy companies.
Onro is delivery management software that improves businesses by developing better communication between drivers, stores/shops, and consumers. The software comes with rich features such as a dispatcher panel, an admin panel, a white-label app, a driver app, and a consumer app.
Also, developers at Onro can design various features tailored to the needs of the businesses. Any business offering delivery services armed with Onro can curb costs, step up their operations, and expand their revenue pool.
Smartconsign is a multi-carrier management system that is scalable and fast enough to keep pace with ongoing trends and scenarios. It is 10X faster than any other last mile delivery platform in the market.
One of the USPs of the software is that it envelopes all major carriers and sales channels, offering businesses and customers total control of their entire package delivery requisites from a single touch-point. The application is straightforward to use and needs no training. Just sign up and add the preferable carriers to get started.
Track-POD is a holistic cloud-based solution that incorporates route and fleet optimization, vehicle monitoring, electronic proof of delivery (ePOD), a smartphone app for the drivers (Android and IOS) to get the jobs done easily and electronically in real-time.
Track-POD has helped loads of collections/deliveries across continents for over 1000 businesses including, grocery, logistics, restaurants, flower delivery, etc.
9. Dispatch science
Dispatch science is a delivery management software platform that uses the power of artificial intelligence (AI) and algorithms to offer you a slick experience. It is a cloud-driven logistic service that helps dispatchers, transporters, and couriers refine their operations.
The platform offers a self-service gateway for customers entering their orders manually and can receive real-time alerts and access to delivery details. It contains home-built smartphone apps for the drivers to review orders and receive route directions. Further, it comes with automated route optimization and dispatching data for the dispatchers.
Bringoz is a delivery logistics platform that offers shippers and carriers a safe experience with end-to-end encryption. It is a SaaS-based platform that provides a scalable delivery framework as well as allows businesses to compete with their peers in today’s demanding landscape.
Furthermore, the delivery software allows automated and real-time delivery capabilities by planning, optimizing, and scheduling. These aspects also help handle multiple deliveries that require on-demand same-day delivery. It traces all the packaging – from the first mile to the last mile.
A last mile delivery management software completely refines and automates your logistics business that satiates the requirements of the end-users. It helps achieve business efficacy in the entire delivery ecosystem to turn your business into a distinct brand identity.
Opt for robust and efficient last mile logistics software for your business that runs smoothly and ensures timely deliveries to ward off any issues easily and accurately.
Astrology plays quite a role in Indian society and culture. Everything from finding when your stars will align to how you’ll meet your soulmate, you can rely on your favorite astrologer to tell you your fortune. With the pandemic raging across the nation and people being confined to their homes, consulting astrologers has become impossible. Building an Online Astrologer Consultation Marketplace can help solve this problem and facilitate a safe consultation with top astrologers.
So, what makes an online astrologer consultation marketplace so popular?
People consult astrologers before making any moves to make sure luck is on their side. Many people swear by astrology as a guide for the decisions they make. People rely on astrologers to tell them how they should proceed with a business deal and also to examine the romantic compatibility of two people. There’s no doubt astrology has cemented its place in our society, but the pandemic-related safety protocols have made it difficult for people to access astrology services.
This puts the spotlight on online astrologer consultation marketplace and how they’re catering to this need of people needing astrology services from top astrologers. It’s pretty straightforward for you to get started with your app right there.
Top Features of Online Astrology Apps
Some of the top features in an online astrologer consultation marketplace include:
Easy Listing and Making Profiles
Listing an astrologer on your app can be done in a matter of minutes, you can choose which services each astrologer offers, their hourly rates, and their areas of specialization. Customers should be able to sort and find the perfect astrologer from a list of the top astrologers listed on your app without an issue.
Ratings and Reviews
Astrology apps need to pay attention to their ratings and reviews system because this is one of the major metrics based on which customers choose their expert. Customers should be able to filter through search results and narrow results down to their preferred well-rated astrologer. By allowing customers to rate and review their experiences with various astrologers, you’re helping future customers make a better-informed decision on which astrologer they’d like to pick.
There are many fine nuances when it comes to choosing an astrologer, some follow different methods than others and customers may prefer one method over the other, allowing them to narrow down their search based on very specific markers including the kind of services offered by each particular astrologer.
Easy to Book Appointments
A good astrology app should make it easy for clients to book appointments with astrologers of their choice. Scheduling appointments should be possible with a click of a button and an easy-to-use dashboard should allow clients to take a look at their appointments at a glance so they don’t miss any appointments. What’s more, is that push notifications ensure that clients never miss an update on their astrological readings.
Keeping Track of Payments
Building an app involves integrating with payment processors and other services that make your app functional, however, it can be hard to keep track of all your payments in order. Panther lets you keep track of each payment on the app, with a page dedicated to individual payments that lets you see when you received payments and for which services. Having access to these analytics helps both clients and astrologers.
How Does It Work?
Clients can download the app and register themselves on it by setting up a profile. Once that’s done, it’s as easy as choosing among the top astrologers listed on the app to match your requirements and have your fortune read out to them through various modes as per their preference – chat, audio, or video channels that help clients get the most out their readings without the physical distance being an issue.
How to Build Your Astrology App with Panther
The thought of building a complete app that looks as good as it works might have been a mere pipe dream for many. Not everyone is technically skilled enough to code an app themselves, debug it, and launch it on the app stores. This is when Panther comes to the rescue. It is a complete solution that helps you build your customizable astrology app that makes it easy for you to bring your dreams of making astrology accessible through chat, audio, and video during the pandemic and beyond.
Panther lets you build scalable apps for multiple platforms quickly and without any hassle. You can get your online astrology app up and running in a day. Give us a call for a demo on how Panther can help you build your astrology app without knowing to code anything.
Panther is a one-of-a-kind app builder that prioritizes user experience and offers the best features compared to other apps in the market. The focus is always to deliver the best user experience that is a pleasure to use. Right from the design to the color schemes and fonts, apps built on Panther always look well-rounded, polished, and professionally done, making it inviting for clients to come and seek astrological solutions to their problems. Get in touch with our team for a roadmap of how your app can be launched in as little as 24 hours!
Everything around us has gone digital lately, completely changing the landscape of learning and seemingly making the concept of a physical classroom feel dated. While it’s uncertain when schools and colleges might re-open, the fact that digital learning is the future has been set in stone. There is no dearth of e-learning marketplace and apps that have sprung up in the market ever since the pandemic has been upon us, but how can you set yourself apart with fierce competition with every other app claiming to be the best. The e-learning industry will be worth a whopping $325 billion by 2025.
Here are some things you can do to improve your app and set yourself apart from the overcrowded e-learning market:
What makes an immersive e-learning marketplace?
Having a good network of teachers
People invest in e-learning apps with the expectation of getting the best possible tutoring possible. This is only possible when there are qualified teachers who have a way of teaching. By onboarding the best teachers on your app, students using your e-learning marketplace platform will be able to learn much better, reinforcing concepts much better which will translate to better performance in tests and exams. Having quality faculty on your app will add to the network effect and help students see the value in using your platform over others.
Providing quality learning materials
Another important core feature of an e-learning marketplace is to provide students with good learning material so they can turn to your app as a one-stop learning resource that will cover their entire syllabus without having to leave the app. Investing in developing quality learning materials and a teaching methodology that makes it easy to grasp concepts. You can offer a free trial to students allowing them to use and recognize the value in the materials that you provide on your app. You can provide students with everything from booklets that summarize topics into bite-sized infographics or give them interesting quizzes that reward them with points to incentivize learning on your app.
A well-designed user interface
An ambitious student has a lot on his plate already to deal with poorly designed interfaces that make it hard to get around the app and find what they want. Doing simple tasks like attending classes, looking for learning material and scheduling appointments with teachers shouldn’t be a hassle. Building an e-learning app with a user-friendly interface that is easy to navigate is an essential part of the e-learning experience that can help you stay a step ahead of the competition and draw attention to your app.
How can I build my e-learning marketplace?
Coding and launching your app might seem like quite a task for most people, but with Panther, it can be a breeze. Mobile learning alone is projected to have a market size of $80.1 billion by 2027, accounting for the accelerated growth due to the pandemic.
With Panther, you can build your e-learning app tailored to give students the best experience and set it apart from the run-of-the-mill digital learning apps that we say today.
Here are some of the key features that e-learning apps built with Panther include:
Students and teachers can interact with each other in real-time using different media. Your e-learning app will support real-time text, audio, and video consultations with teachers too. Students can communicate with their teachers seamlessly, allowing them to have their questions answered and their curiosity fostered when they need it the most.
Apps built using panther provide you with powerful data and metrics that you can use to improve your app and scale it up to reach more students who would want to sign up on your app. Real-time analytics help you pay attention to what’s important to set your app apart.
Seamless Appointment Booking
Students and teachers can schedule one on one appointments with the click of a button. This makes it possible for each student to get individual attention from the teachers and have all their questions answered by the teacher, which will help reinforce concepts much better.
If you’re looking to build a digital learning app with a difference that makes your app better than every other app out there, Panther can help you do just that. Digital learning is still catching up to traditional forms of learning but you can help it get there faster by building your app. Get in touch now to discuss launching your own customizable online e-learning app with Panther so you can focus on running the business rather than stressing out over how to build the app.
With the closure of gyms and fitness centers last year, it wasn’t long enough for workout junkies to switch to the internet to continue their fitness sessions uninterrupted. Complementarily, the number of people using fitness apps grew by almost 20 million from 2019 to 2020 in the United States alone! While fitness enthusiasts who trusted in-house sessions more are now pushed to try online fitness solution, skyrocketing the demand for effective fitness programs online.
With gyms offering free classes on Instagram to paid sessions on zoom, digital fitness is now incorporated into our lives through new outlets. Online fitness is not all about the video consultation, but about the user experience from running a search to realizing a workout class or a nutritionist’s appointment.
While it can be a high-intensity workout with an instructor or just a simple consultation with a health expert – Fitness is an umbrella that harbors a variety of business models and service offerings to explore. Switching online has been a bane to many fitness businesses in these times as well. Digitization has now become the future of fitness. In this blog, we’ll explore why online fitness is becoming the new normal and how you can harness this opportunity!
Why were we prompt to adapt to Online Fitness?
The online fitness era offers different ways to relay the content to users – on-demand, live-streaming group sessions, personal training. While on-demand content works just like any other OTT platform, live-streaming and personal training let users interact with their instructors in real-time. Here’s why digital fitness is becoming prevalent today –
Autonomy and flexibility
Offline fitness solutions come with the rigidity digital fitness aims to alleviate. Online fitness particularly works well for people with busy schedules who find it hard to take out time to hit the gym. They prefer an alternative that can be availed when it’s convenient for them. Digital fitness lets users work out from the comfort of their homes. And if they are not able to show up for a session, an online fitness platform offers more convenient options to reschedule to a later time or cancel, if need be.
Comfort and safety
Crowded fitness centers can be anxiety-inducing for some users, straying their attention away from their own health to their surroundings. Coupled with safety concerns during the pandemic, some people may not feel comfortable working out in a public place. Digital fitness, on the other hand, lets people stretch a limb or two from wherever they are. Not only can it be more relaxing for users, but also go a long way in preventing any possible infection spread.
How will Online fitness transform in the future?
The fitness industry in 2020 took a stark turn into adapting to evolving consumer expectations. While many argue that the fitness industry will become fully functional offline once the pandemic ends, here are the reasons why we believe online fitness is here to stay in the future –
All-inclusive definition of health
Physical health has always gained precedence over mental well-being in a conventional setting. Emotional health is often overlooked. However, being just physically healthy is not all users look for – it’s the overall body and mind strength that matters. So, now with operational online gyms, the demand for online therapists, meditation centers, psychologists, and psychiatrists will rise too.
Whether it’s AI-powered home equipment or wearable technology, the fitness industry is brimming with innovative solutions to manage and monitor health. These tech solutions, coupled with online fitness consultations can provide a comprehensive user experience. Now, users want to track every metric in the body – heartbeat, blood pressure, oxygen levels, and more. The technologically savvy population that signs up for online fitness will look for an integrated fitness service from service or product brands.
Socialization is instinctual in humans. While fitness is the primary reason, offline gyms contribute to fostering a sense of belongingness within people with the same interests. This will aid in stimulating vibrant communities of like-minded people. Social media will be the binding glue among people and can strongly propagate reviews and testimonials of different fitness offerings. Online fitness businesses can leverage this to acquire and retain customers.
Rethink online fitness with Panther!
Online fitness is not just limited to gyms. It’s a broad set of various business ideas that all contribute to the thriving fitness industry. You can build just any kind of online fitness business with Panther – yoga classes, meditation groups, aerobics, psychotherapy, and more.
Sign up with Panther today and take your fitness business online – within a day!
The relevance and need for accessible healthcare have been on a continual rise ever since the world started battling SARS-CoV-2 earlier last year. With active lockdowns enforced in multiple countries with little to no freedom of movement, people inevitably switched to the internet to connect with doctors and medical professionals. With the widespread acceptance of the new way of consulting a doctor, the online medical consultation industry roared.
The telehealth market surge is predicted to touch a new high. While the global figure almost touched $80 billion in 2020, the market is forecasted to reach a phenomenal $396.76 billion by 2027, reports a study. Complementing this, the American Health Association reports that 76% of patients prioritize access to the healthcare service over an in-clinic consultation. With the demand taking its dutiful course, the supply is bound to swell. Evidently, having an online medical consultation business right now is a worthwhile business idea.
Wondering how you can set up a successful online healthcare business that is synonymous with top-notch quality and care? In this blog, we will break down tips that you can implement for your medical consultation business!
Invest your energy in knowing and building customer relationships
In an incessantly booming healthcare space, you face fierce competition from your peers. Patients now have multiple choices at hand and a single differentiating factor can make your business stand out. Healthcare is sensitive and emotionally demanding for both the patient and the caregiver. The key here is to look for customers’ pain points and come with resolutions to them. For example, you can extend the wait times for your customers and/or offer better cancellation or rescheduling options.
In times like these, patients are looking for reliable medical services – displaying your health provider’s credentials in the booking process can help you establish credibility and nurture trust in every customer. Go out of your way with customer service; surpassing customer care expectations can turn into positive word-of-mouth for your business.
Simplify ”search, select, book” for your patients
More often than not, people looking for medical help require it urgently. While it can or not be an emergency, ensure that your patient journey from starting point to the finishing line is seamless. Your booking or ordering portal should be bug and error-free. Focus on streamlining the user interface for the customer-end platform. Your portal’s UI should be ergonomic and easy-to-use even for people operating your app/website for the first time. Smart allocation of the estate on the user interface can reduce the odds of your patient dropping out mid-booking.
A telemedicine platform builder like Panther offers highly responsive, yet uncomplicated UI features to ensure your patients exit your platform after booking a consultation or placing an order.
Hassle-free merging in-clinic services to your online platform
The transition from one-to-one services to a virtual setup can be complex. Customers expect the same quality of services they get in a clinic on your online platform. This is why it’s imperative for you to choose a powerful all-in-one technology stack ideal for online healthcare business. For instance, your platform should offer effortless front-desk registration for new patients and timely follow-ups all the while automating business performance insights in a single visible frame.
Broaden your horizon with more than one product offering
As a new telehealth platform in the market, your aim should be delivering different or more than the presently available options. Limiting yourself to one service can make you lose out on other customer segments. For example, while you provide voice or video doctor consultations, you can set up a different wing within your service offering in which you prioritize emergency or critical cases for people who can not physically reach a healthcare professional at the moment. The idea is to avail a service or a product that is unexplored, yet promising to the users.
Implement and create your online medical consultation business with Panther today!
Building an online consultation platform from the scratch can not only stall your time-to-launch in the market but also be hefty on the pocket. But not with Panther!
Panther marketplace builder is created to fit well with just any consultancy business. With no prior technical knowledge required to build a platform, Panther offers a pool of important features that are needed by the 2021 consumer.
Create the service provider and customer-end apps equipped with features like advance search, real-time audio and video calls, easy payment options, and more.
Not only does Panther simplify the customer experience on your platform, but also provides you with immersive and detailed performance reports on a consolidated dashboard.
Wondering where to get started? Connect with us now and avail of your 14-day free trial with Panther. We would love to have you on board!
With artificial intelligence aiding companies in drafting their legal contracts to law firms doubling down on their digital marketing efforts, the law industry has seen quite a few changes in the past couple of years. While offline legal consulting has usually been preferred by clients, the year 2020 changed the said tide.
Come what may, the legal services market continues to grow. A 2021 Statista report forecasts the global legal services market to touch a staggering $857.7 billion by 2023. As various industries sought to resume their operations online, so did the legal consulting space. The legal ecosystem witnessed a shift as court proceedings were held through zoom calls and law consultants began to render their legal services through online consultations. Online legal consulting now aims to solve challenges in-house consultation sessions had.
The New Era of Online Legal Consulting Marketplaces
Imagine Amazon, but for legal services. An online legal consultancy platform can streamline the process from booking an appointment to finally showing up at one. Conventional consultancy firms have clients, more often than not, stuck in an unending loop of red-tapism and unnecessary back-and-forth with assistants before landing up a one-on-one consultation.
Per contra, an online legal consulting marketplace eliminates the need for any middlemen to receive legal advice. Offline consultation sessions usually end up being quite hefty on a client’s pocket. As for all, technology can manage to disrupt the legal ecosystem as well by offering consumers an integrated and accessible solution to their legal woes. By simplifying search, selection, and action, clients in search of quick and hassle-free legal advice can now connect with law attorneys whenever need be.
Legal Consulting Taking a More Client-oriented Approach
In a conventional legal consultancy, invested hours and input have been the focal point of any use case that took precedence over user satisfaction and retention. Legal consultants and law firms believed in a one-sided approach. They decided what was the best for a client, the time investment required, and deflected any competition by practicing complete autonomy over a case. This practice left little to no room for a customer to look for better and less expensive options.
However, with a sea change in digital technology and ongoing globalization, legal buyers looked beyond legal expertise as the only facet in service delivery. With competitors offering a 360-degree consultation experience aided by technological tools and business expertise, clients now have better control over their legal needs.
Democratizing the Legal Industry
Traditional law firms have been inaccessible to a large contingent of businesses and individuals primarily due to the steep price point with lawyers at firms charging hundreds of dollars per billable hour. The traditional law firm model doesn’t rely on economies of scale to expand, the nature of work has remained the same with the number of hours of transactional work done in a day taking the centerstage. A digital legal service marketplace hopes to change that and democratize the legal services industry by reengineering the way these services are delivered to clients. An online legal services marketplace can help lawyers offer their services at competitive rates and eliminates the need for a law firm to be a middleman, thereby making their services a whole lot more affordable.
Build Your Own Online Legal Service Marketplace with Panther
With Panther, you can design your own online legal consulting marketplace with no coding experience required to get you started. It’ll be a matter of a few clicks before you can set up your digital legal marketplace.
Clients can register on the app and filter from the available lawyers based on the area of specialization and other parameters such as hourly budget. Once your client has chosen their expert, lawyers can help assist their client via secure digital channels such as chat, audio, or video calls that are encrypted to ensure that client-attorney privileged information is protected. Lawyers are paid instantly through the app once the consultation is done.
Get in touch with us now to see how simple it is to launch your legal services marketplace with Panther.
With the world around us going digital faster than ever, the legal industry has stayed pretty dormant and traditional. However, online legal service providers are proving to be promising contenders in expanding the legal service industry. The market size of online legal services reached a value of $8.5 billion in 2020 as compared to $68 billion USD of its traditional counterpart. Apart from making these services more accessible, it also helps lawyers divert their attention to the most important tasks that require their attention while AI-assisted technologies can handle most of the monotonous, rigorous transactional work that makes up the bulk of billable hours. It’s only a matter of time before we start seeing full-service virtual law firms springing up that can do everything a traditional law firm does, but more efficiently. Online legal marketplaces usher in the future of the legal industry in the face of a digital economy that we’re all still warming up to in this post-pandemic setting.
With Covid-19 hitting hard to almost every part of the world’s ecosystem, the fitness industry has learnt to embrace the new normal. If you are among those aspiring entrepreneurs who are on the constant lookout for expanding the scope of your fitness business in the software space, getting a fitness marketplace can be an excellent option to begin with.
Before we dig further into the stepwise process of building a fitness marketplace, let us discuss the marketplace and its future in the market.
Fitness marketplace: A brief overview
Conventionally, the market is full of fitness centres, and people use them to avail the services via visiting those centres. But due to COVID-19 restrictions and prolonged lockdown, these physical centres are shut down.
To continue offering fitness consultation to the people, many fitness centres have started shifting to the marketplace concept. It helps to connect with the relevant set of customers through a specific app and web.
Why will a fitness marketplace be an excellent fit for today’s situation?
Several factors play an integral role in allowing fitness centers to bloom to shift to the digital platforms via the fitness marketplace. A few of them are:
- It will enable easy connecting of trainers to customers with a few taps on the app.
- It brings the virtual training session accessible to all without worrying about stepping out of the home.
- It helps in maintaining the momentum of adding fitness quotients among the users.
- It allows fitness trainers to carry out their earnings without getting impacted from stretched lockdown.
- It helps in providing access to fitness training to the people who are entitled inside the four walls of their homes.
- It helps in lowering down the overall operational cost of running a full-fledged fitness centre.
How to create a fitness marketplace?
Are you up for driving innovation and enter the new territory of digital-ready fitness? Here is how to begin and what things should be kept in mind while you start building a fitness marketplace.
- Get the SaaS platform
- Get the technical experts on board
- Target the right audiences
- Own your brand story
- Connect with your customers/target base
Step 1: Choosing the SaaS Platform
A powerful SaaS platform can help you cover half of the marathon to establish a digital fitness marketplace. There are the following features that you should notice while you decide on a SaaS platform. From customization of the marketplace to get the required APIs, get a SaaS platform covering all the touchpoints. The scalable platform that can help you to get third party integration quickly can be a great fit to make your marketplace- a place for all. Before you sign up for a specific SaaS platform, make sure you get a complete overview of all the exclusions and inclusions of the platform. It will help in ensuring that you are on the right track.
Step 2: Get the technical experts on board
To make sure you get all the boxes at the right place, it is always advised to keep the industry’s experts at your side. If you choose to go ahead with the tech experts who can help you to sustain your digital transition journey, you can find yourself at a safer place. It will be an added advantage to kickstart with a robust SaaS platform.
Step 3: Target the right audiences
The market is full of opportunities. Have you ever thought why only a few in the competition manage to succeed and own these opportunities while others fail to sustain? The answer is simple. The ones who tend to crack the algorithm of the market’s demand at the right time creates history. And rest remains the part of the crowd. If you wish to edge your competitors, you need to learn how to make the magic. Understanding the target audiences and pitching them in the right way can help you go longer than others.
Step 4: Own your brand story
We believe that every brand has its own voice that makes it different and unique from others. A fitness marketplace that can echo your brand story can help you to resonate with the business existence. Getting a perfect pitch to begin and creating a brand story by owning the end to end customization of your fitness marketplace should be there in your list. It will help you to create a marketplace that can stand out in the crowd.
Step 5: Get the communication channels sorted
Another big thing to add to the list is to connect with the customers at the ground level. A perfect communication channel can help you to make your marketplace vulnerable to engage with your customers. For example, choosing the Panther as your marketplace partner can help you to connect via video or audio consultation. This can be a huge breakthrough that can sustain and retain your customers for the longer run.
For those who are not aware- Panther supports various types of consultations:
- Audio Consultation
- Video Consultation
- Text Consultation
Every fitness marketplace needs a software that can fill the gaps and can smartly address the pain points of launching and running a digital fitness center. If you are looking for a ready-made consultation marketplace where you can add customisations as per your brand voice, feel free to connect with our Panther team.
Your best in the business is yet to come! Let us discover it together.
Shopping in a brick-and-mortar store during the pandemic may not be a safe option, but an eCommerce online store can help customers through – a last-mile delivery service. It is the last phase of the entire delivery process, where the product reaches a customer’s doorstep from a distribution hub.
Modern-day customers are getting increasingly sophisticated in their demand from the last-mile delivery services. According to McKinsey, 20 to 25% of consumers will pick same-day delivery over a standard delivery if available at lower prices.
Simultaneously, the actual volume of instant deliveries stands at 1% of total last-mile deliveries due to extra cost. So, it becomes essential for eCommerce businesses to control last-mile delivery costs to ensure lower prices of services like instant deliveries.
So, how can you optimise the cost of last-mile delivery?
To optimize expenditure and reduce overhead, we need to understand the last-mile delivery cost breakdown.
What is the Cost of Last-mile Delivery?
The cost of last-mile delivery is one of the most significant portions of an organisation’s entire shipping cost.
Before we discuss the last-mile delivery breakdown to analyse its’ contribution to the whole logistics budget, here are some crucial data:
- Three fourth of consumers will spend more and be loyal to brands that offer the right last-mile experience.
- Last-mile delivery accounts for 53% of total shipping costs.
- The last-mile delivery services account for 41% of the entire supply chain costs worldwide.
- The average last-mile cost for a small package in high-density delivery can be as low as $10, and for low-density heavy packages, it is $50.
- The average salary of a delivery driver falls in the range of $16 to $24 per hour.
- Lack of optimisation in last-mile delivery costs and a surge in online sales can lead to a 26% decrease in profits over three years.
When you think of last-mile delivery cost breakdown, there are five parts to consider,
- Delivery Provider/Labour Cost
- Fuel Cost
- Delivery Equipment Cost
- Delivery Management Software Cost
- Reverse Logistics Costs
- Miscellaneous Costs
- Labour Costs
Labour costs account for one of the most significant expenditures in last-mile delivery services. It amounts to about 50 to 60% of the total cost of last-mile delivery. Delivery truck drivers are the most expensive ones, as they are a crucial part of the logistics network.
According to the Bureau of Labor Statistics(US), the average wage rate of delivery truck drivers per hour is $15.12, and it ranges from $9.43 to $29.39. Simultaneously, local messenger or local delivery providers charge an average of $16.74 per hour. If you seek express delivery providers, the charge goes up to $25.10 per hour.
- Fuel Cost
Though fuel costs account for only 10 to 25% of your entire last-mile delivery expenditure, they can have a massive impact. Take an example of Amazon’s change of prime membership prices in 2018. The eCommerce giant had to increase the prime membership prices from $99 to $119 due to an increase in the fuel cost.
Fuel costs increase as you scale and enter new markets. As the span of your delivery network increases, you need to cover more area, which leads to extra fuel. Another factor that makes fuel costs crucial is the fact that it is a volatile entity. When you are planning for different costs of last-mile delivery, fuel cost is one expense that you can’t predict.
- Delivery Equipment Cost
Delivery equipment costs account for another 10 to 20% of the last-mile delivery expenditures. It deals with the equipment or tools required to deliver a product safely to the consumer’s location. For example, a food delivery business will need coolers, pizza sleeves, drink holders, freeze-dried ice, crates, and straps to serve food fresh to consumers.
Apart from the packaging costs, some deliveries need special arrangements like a vaccine that can’t sustain when the temperature crosses a specific threshold. Such delivery equipment can incur a huge cost on last-mile delivery services.
- Delivery Management Software
Delivery management software can be costly if not planned and optimised. It accounts for 10% to 15% of the total cost of last-mile delivery. There are many features in delivery management software that may be complex to develop and incur higher costs. Take an example of an Artificial Intelligence(AI)-based feature of an eCommerce app that automatically allocates orders to respective delivery providers nearest to the location. Integration of such technology can lead to an increase in the cost.
Here, a delivery management software solution with optimised cost can help you with great features. Tookan is one such software that offers features like auto-allocation and automatic order management at your budget.
- Reverse Logistics Costs
Reverse logistics costs deal with the expenditure of product returns. Most of the eCommerce businesses offer free returns within a specific time. A consumer may offer the returned product in packaging intact or not, but the eCommerce firm has to facilitate a return along with packaging to ensure safe delivery back to the warehouse. The entire return process cost can be quite high, as you will have to bear double expenses.
- Miscellaneous Costs
Apart from fuel, labour, returns, software, and equipment, many unexpected costs account for the rest of the last-mile delivery costs. These expenses can include replacement costs, idling costs, rescheduling costs, maintenance costs, storage costs, and many more. They may be directly associated with the last-mile delivery phase or are external factors with indirect impact.
Now that you have some idea about the last-mile delivery cost breakdown, let’s explore why it is so expensive?
Why is Last-mile Delivery So Expensive?
Several internal and external factors make the cost of last-mile delivery to be overwhelming. While internal factors can be controlled, external ones depend on the geopolitical scenarios and market situations. For example, fuel prices are not something an eCommerce firm can control, and at the same time controlling delivery equipment cost is feasible.
Some of the reasons why last-mile delivery is so expensive are,
With the development of technologies like the Internet of Things(IoT) and 5G networks, consumers demand features like real-time tracking of deliveries. For eCommerce businesses to create such features, they need tech-stack and infrastructure investments, leading to higher costs.
With the rapid change in consumer behaviours, the surge in demand for free shipping puts more pressure on the eCommerce platforms. As these businesses bear the entire shipping costs without charging consumers, it becomes difficult to manage the entire last-mile delivery budget.
Issues Related to Deliveries:
Due to the lack of route optimisations and tech-stack, it leads to failed deliveries or errors, which incurs more costs. With the additional expenses of product replacements, returns, and failure of delivery attempts, the cost of last-mile delivery increases.
Apart from different costs, and reasons for the rise in the expenses, there is one factor in last-mile delivery that has a massive impact – Time. So, let’s explore how much time a last-mile delivery takes?
How Long Does Last-mile Delivery Take?
There is no specific answer to how long last-mile delivery takes because of multiple variables. Standard delivery may take two days in urban areas and around a week in rural areas. Expedited delivery can take a day or two in urban areas and three to four days in rural locations. At the same time, many eCommerce companies offer same-day delivery.
The best way to optimise delivery times and reduce errors is by analysing real-time data. With a delivery management software like Tookan, you can get real-time analytics on,
- Number of completed tasks
- Distance covered
- Time per task
- Idle time
- Number of failed deliveries
- Return orders
- Delayed deliveries
- Driver’s performance
- Peak Time Performance
Such data can help you optimise the last-mile delivery process and reduce costs. It also helps with effective scheduling and route optimisation to save on fuel costs.
Understanding the last-mile delivery cost breakdown and analysing real-time data can help you optimise the system. You can improve the efficacy of deliveries, monitor driver performance, and optimise routes to reduce operational costs. The best way to reduce the cost of last-mile delivery is by leveraging a delivery management software that offers intelligent features.
If you are looking to enhance your eCommerce business’s last-mile delivery, Tookan is the best option. It helps in reducing the cost of last-mile delivery through real-time data analytics and effective order management.
Content for Infographic.
- 3/4th of consumers will spend more on brands that offer the right last-mile experience.
- Last-mile delivery accounts for 53% of total shipping costs.
- The last-mile delivery services account for 41% of the entire supply chain costs.
- The average last-mile cost for a small package $10, and for heavy packages, it is $50.
- The average salary of a delivery driver falls in the range of $16 to $24.
- Lack of optimisation in last-mile delivery costs can lead to a 26% decrease in profits.
Technology has been an integral part of revolutionizing the healthcare sector. All the industries have embraced the quick convergence of digitalization. Undoubtedly, it has opened up a whole new world of possibilities for the E-health platforms.
Let us discuss why e-health platforms are the upcoming era for all of us.
E-health platform: A brief overview
Heard about the term E-health platform? Do you know what exactly it means? How is it going to fit the current situation? What are the upcoming benefits of choosing it over conventional practices? Why should you make a switch to the e-health platform? This write-up will cover all the aspects and throw some light on future predictions for the e-healthcare platforms.
E-health platform is the digital transformation of the healthcare services and operations with a SaaS-based model. The platform allows the medical services to connect with the services seekers through various apps and web platforms.
Henceforth, the combination of medical services and digitalization is termed as e-health platform. One and a half years back, the concept of e-health platform was there but was not much popular in the market. Since the pandemic has hit the world, every other corner of the globe is getting used to the digital transformation of their respective healthcare services. This has let the market get a complete switch to digital platforms.
Perks of e-health platform: Usefulness to be acknowledged!
E-health platforms come with a range of benefits. This is why the concept is being encouraged to change the face of medical practices. Here is the list of advantages that comes side by side.
A big-time saviour
Telehealth saves time for both – the doctors and the patients. For instance, a patient can easily schedule an appointment with their health practitioner at their convenient time. And the healthcare provider can make a calendar to inform about his availability. This helps to reduce the long hours of waiting in hospital premises.
Quick Insights into health stats
A digital healthcare platform brings the right opportunity to get a complete insight into an individual’s health with all the required documents placed at the right place. The data can be shared with the informal care, guardian or with the patient itself. It helps in ditching the age-old practices of getting stuck into piles of medical records for every visit. It can be wise to better understand the patient’s health stats to the treating medical practitioner. The easy access of documents also supports in making the right decisions about the right set of treatment.
Reduced operational work
When a health care center transitions to the e-healthcare platform, it would be easy for the service providers to get rid of heavy paperwork and keep the information secure. They can access and share the information easily with colleagues, patient, or guardian at the time of requirement. It reduces the work task in a typical medical center and helps keep the privacy quotient supported with digital fences. The protected version of keeping the medical records will help gain the trust factor among the patients. Still not convinced? Let us know how many times you have bear the time burning and cost burning because of duplication of documents? The digital records will make sure that you skip these silly yet heavy mistakes forever!
Lower operational cost and fewer financial pay-outs!
When you choose to start with an e-health platform, you are saving a significant amount in terms of your finances. The big data wearables, artificial intelligence, and electronic medical records keeping process are all known to make your financial pay-outs comparatively low compared to conventional ways. Apart from operational efficiency, the big move also allows you to benefit from less investment and higher savings in your business ROI. The switch to e-commerce e-health services conveys the visionary promise of making healthcare accessible and approachable to all.
Greater accessibility to all remote areas
Health emergencies come with no prior notices. Moreover, getting deserved medical attention is a human right. However, many among us fail to seek the required medical attention due to one or the other reasons. E-health platforms can be a better advantage for those seeking to get medical advice from remote areas. You can say goodbye to location demographics and can reach out to any part of the world through a powerful medical care app. Isn’t it something that has become the need of the hour? When people are asked to stay at home and maintain social distancing, the e-health platforms have helped redefine the face of medical health care services.
Panther- An ideal option to idealize your decision!
The above section explains the need and advantages of choosing e-health platforms in healthcare services. Now, the next big question comes how to choose and whom to choose to make the much-talked-about digital switch. The answer is one- Go with “ Panther”! The scalable and robust platform is a fully customized SaaS software that can help you create your brand presence without much effort.
The most-asked features such as:
- Various types of consultation: Audio, Video or Text Consultation
- Quick Payment Collection: Multiple Payment Channels Integrated
- Easy Analytical Insights: Data packed reports, Cohort Analysis
- Push Notifications, SMS, Emails: Broaden Marketing Channels
And many more!
Get on a call with our telemedicine software expert and know how you can add efficacy in your existing business with a few easy clicks!
Yelo Brings the Power of Cevnn Gateway for Your Business
Two digital enthusiasts Peter Thiel and Max Levchin, found an affordable approach for digital payments with Confinity in 1998, which later became the famous PayPal. Since then, there have been many innovations in payment gateways. Every eCommerce business or even an on-demand delivery service relies on a payment gateway for secure and enhanced digital payments.
Payment gateways are an inevitable integration for any online business, and that is why there is a massive demand for such solutions. The payment gateway market is growing at a Compound Annual Growth Rate (CAGR) of 12.5% and will reach $86.90 billion during the forecast period of 2017-2025.
Digital payments are not restricted to debit cards and credit cards anymore. Now, there have been innovations like cryptocurrencies that are gaining momentum in terms of digital currency.
So, it was a step towards the future of enhanced digital payments for a platform like Yelo when they decided to integrate one of the biggest payment gateways, Cevnn. But, before we look at how online marketplaces and businesses can benefit from Yelo’s integration of Cevnn, let’s understand payment gateways in numbers.
Payment Gateways in Demand
- Digital wallets/mobile wallets dominate the online payments market with a 44.5% share.
- Online marketplace sales will surge and dominate with a 60% market share by 2023.
- The market share for digital wallets will reach up to 50% by the end of 2024.
- The total transaction value for the Digital Payments segment will reach $6,685,102 million by the end of 2021.
- Total transaction value will grow at an annual growth rate of 12%, which will result in revenues of $10,520,219 million by 2025.
The market for payment gateways is massive, and Cevnn Payments is a significant player. While some payment gateways offer dedicated APIs or Application Programming Interface for integrations, others allow you to build custom APIs.
So, does Cevnn Payments offer such services?
Let’s understand what it is and how Yelo leveraged it.
What are Cevnn Payments?
Cevnn Payments is a fin-tech firm that offers online payment solutions through reliable tools and services. It enables direct payments from the bank at the checkout of any online business. The backend of Cevnn is built on a SOC 2-compliant company called Plaid, which is a subsidiary of the famous VISA organisation.
At the checkout page of your business, the Cevnn extension allows your website to redirect the users to the “Cevnn Payments Checkout page.” Here, through tokenisation technology, all the essential data is captured, and sensitive information is encrypted. Cevnn Payments has passed SOC 2 audit and has been one of the most secure payment gateways for businesses to use for their online payment feature.
The payment gateway helps organisations increase checkout conversion rates and reduce cart abandonment rates. It allows firms to reduce customer churn rate by decreasing the number of declined credit card payments. With its suite of several payment options, you can reach consumers who don’t have access to credit cards.
Cevnn Payments has been at the forefront of advanced payment gateways, and it charges 2.9% + 30 cents per transaction which is quite competitive. The payment gateway is quite popular in the US and Canada and offers multi-currency conversions for usage worldwide.
Yelo decided to offer its clients the ease of online payments by integrating Cevnn. But, before we discuss its benefit, let’s have a brief idea about the Yelo platform.
What is Yelo?
Yelo is a platform for businesses and enterprises to build a custom online marketplace. It helps companies create the entire tech stack for their online marketplace without spending too much on developing individual features.
Yelo handles anything from store management, delivery service, and even online payments for your online marketplace platform. So, you can focus on the core business logic rather than wasting time on figuring out how to build the tech stack. The platform boasts clients like McDonald’s, Swiggy, JSW steel, DeliveryHero, Burger King, Honestbee, Pizzahut, and even Jugnoo, the ride-hailing sensation.
With Cevnn, Yelo enables its client to offer a superior user experience, especially during the checkout process. So, let’s discover some benefits which every Yelo client can experience with the integration of Cevnn.
Benefits of Cevnn Payments Integration into Yelo
1. Swift Checkout
Higher checkout times always hurt businesses. When 18% of customers leave your business due to a slower checkout process, having faster transactions does make a difference. Cevnn payments enables faster checkout as there are no payment gateway redirections.
Yelo enables many organisations with custom checkout pages with no restrictions on creating an account or sign up needs. Apart from the customisations, the saved cards feature makes the entire process swift, plus the extension of Cevnn Payments API makes the whole experience smoother.
2. Secure Payments
When it comes to secure payments, eCommerce businesses and on-demand firms rely heavily on payment gateway security. Yelo understands the importance of secure transactions, and Cevnn Payment integration is a step towards adding more protection for its clients.
One significant benefit that every Yelo client will have is SOC 2 compliance. Issuance of SOC 2 compliance by the American Institute of Certified Public Accountants (AICPA) is a certification of security across organisations.
Cevnn Payments is certified for SOC 2 compliance, which means the customer’s data will be highly secure even in a catastrophic malware attack. Apart from data security, the payment gateway will enable high-end encryptions for every sensitive data captured during the transaction, making it one of the most secure online payment processes.
3. Pricing Transparency
One of the most significant reasons for customers leaving your business can be a lack of transparency in pricing. The addition of taxes and other charges should be visible to consumers, so they can estimate the total payment they need to make.
Yelo already offers automation in price estimation through auto-addition of taxes at the checkout, bringing transparency for your consumers. With the added features of Cevnn Payments like tokenisation, Yelo now offers better computations of pricing and secure checkout.
4. Checkout Conversions
Having Yelo can lead higher checkout conversion rates due to more payment options powered through Cevnn Payments. The integration will help online marketplace platforms reduce cart abandonment rates as consumers will have multiple payment options, and signups or other hidden costs are decreased.
With a reliable payment gateway API, the entire checkout experience will be enhanced, allowing the organisations to improve their services. Even for delivery charges, Yelo’s dynamic delivery charge feature will be helpful for many online marketplace platforms.
Apart from faster checkouts, the addition of promo codes, discounts, and other offers will also be much easier with the integration of Cevnn Payments. Online marketplace platforms can also leverage a solution like Yelo for additional features like route optimisations, navigational maps, customisable product listings, etc.
The integration of Cevnn Payments into tech-stack solutions offered by Yelo will empower many online marketplace platforms to enhance their UX. The technical know-how of a tech partner like JungleWorks, and a robust payment gateway like Cevnn Payments will be excellent for your business. So, what are you waiting for? Turn the tables around with this fantastic partnership. Get in touch for more details or comment below for further information regarding the Yelo platform.