6 Things should keep in mind while choosing Coworking Space in South Delhi

How to choose a Coworking space in South Delhi?

by | posted in: Coworking in South Delhi | 0

Coworking spaces are boon in disguise for a start-up business that doesn’t want and is not capable of making more capital investments. When you are looking for coworking space in south Delhi, there are a lot many factors to take into consideration. You need to have an ideal workplace to drive your energetic team to dream venture as a startup entrepreneur. The working space you choose to go with should be able to attend to every need of the business, answer every query and importantly let you work peacefully towards your goals irrespective of the profession you have chosen in.

6 Things should keep in mind while choosing Coworking Space in South Delhi

Economical

Budget is the most important factor that restrains the budding entrepreneurs to coworking spaces rather than individual buildings. Spending high on renting space to conduct a dream venture is not easy on the pockets of the budding entrepreneurs. If you are a freelancer looking for an ideal working space, the cost will be in your manageable budgets to drive on. If you are a team working towards a goal, you cannot afford to run a rental space that is beyond your budget even before you have started working towards the goal. If you are a startup entrepreneur and are keener on securing funding for the business, look for the coworking spaces that fit your budget. Choose the coworking space with a low price point to start with and pick the ones that have flexible pricing so that you can increase the rental as the size of your family grows further. Make sure you have flexible payment plans for your coworking spaces.

Time Management

With a change in the work culture, many people are looking for flexible work timings. When you are picking a coworking space in south Delhi, make sure the space offers flexible timings. Few projects need your team to work daily, a few weekly and a few daily so, pick the ones that have the flexibility to switch up timings. You should also check if the space is easily accessible and reduces your travel time. 

Locality

The locality of the working space is another important factor to consider. The space matters both for the users as well as entrepreneurs. If you have a team of people constantly making visits to the office space, you should know that the office space will accommodate you. Make sure your office space accommodates at least 15-20 people at a go. Check if the workspace has multiple locations in the city when the business is growing up for you. Is the space you have chosen is easy to locate for interviews and conduct prospective meetings for the clients? The location of the coworking space is a prime factor to consider because the safety of commuters is also a main concern.

Inhabitants

Coworking space does mean that the same location is shared by different organizations. Before choosing one coworking space in south Delhi, make sure how many tenants are already there for the coworking space. If you are a freelancer looking for networking opportunities, pick the coworking that is occupied a lot of professionals in various industries. It will open doors for many opportunities and help you conduct meetings with like-minded people. If the spaces offer you a trial period, use it and ensure you connect with the tenants there and make your working space comfortable.

Also Read: What are some qualities of a great coworking space?

Plug and Play

The coworking space in south Delhi should be your plug and play store. Make sure the coworking space is updated with futuristic and robust technology to make your journey smooth and easy. You will be able to start work sooner than imagined. The robust office space will help you expand your business whenever needed. Make sure the coworking space you choose has all the amenities that one expects by renting individual working space. The coworking space owners should stand by their commitments like providing a fully equipped workspace that comes with the price you have chosen. 

First Feel

As the saying goes, the first impression is the best impression; you should check the first feeling you get while picking the coworking space. The look and feel of the working space will create an emotional attachment. The places will create a positive vibe on the first impression. The employers and employees will feel throughout working time in the coworking space. 

Commutability 

You are picking the coworking space for your office to save on budgets, but it should not compromise on your distance you commute to reach the workspace. it will be hard for the employees to face the pressure of traveling to reach the location on a daily basis. It will be difficult for the employees to work to their full potential.

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Top 7 Business Metrics Every Start-up Should Track

Top 7 Business Metrics Every Start-up Should Track

by | posted in: Business | 0

They say the right decisions are based on the right measurements and the same goes true for start-up businesses too. As a start-up, you cannot afford to repeat your mistakes, ignore crucial patterns or fail to capitalize on strengths. The various aspects of your business require respective measurement metrics that help you make the right decisions at the right time. This is where business metrics come to your aid. Business metrics are numbers that represent the degree of success of an endeavour, an initiative or the functioning of several processes in a business. 

Whether you are heading an organization that has offices in multiple cities or whether you are working out of shared office space in Noida, the right measurement techniques are a pre-requisite to decision-making. Here are 7 important business metrics every start-up must track. 

7 Key Metrics Every Business Should Track

Customer acquisition cost

Customer Acquisition Cost refers to the total cost involved in finding and persuading customers, right from advertisements, promotions, meet-ups, and event organizers to free vouchers or coupons distributed. The total cost pertaining to a specific period divided by the total number of customers acquired in that period is the average cost of customer acquisition. The lower the average figure, the better. However, how low is low depends on your industry. For instance, if you are selling a coworking space in Noida, the figure might be higher than for someone selling baby products online.  

Revenue run rate

Revenue is what keeps a business going. As your business grows, it is important to keep a check on how it is scaling. Revenue Run Rate is an extrapolation of the revenue of a particular period into a future period, say a year. So if your business made a total revenue of 10 lacks in a month, multiply it with 12 to find out the annualized revenue. This helps in forecasting the growth rate, analyzing future trends, strategic planning and overall decision making.   

Monthly recurring revenue

A certain portion of the total revenue is expected to recur periodically. Monthly Recurring Revenue is the revenue that one can expect to generate every month. This is applicable for businesses that have subscription-based products or services- that are billed periodically, say weekly or monthly. For instance, imagine that you run garden architecture and maintenance services in the NCR area. You have established a certain number of clientele including multiple-office complexes, standalone apartments and shared offices in Noida who require your services every month. Such predictable revenue that you can count on every month is the recurring revenue.  

Categorized expenses

As a start-up, it is crucial to keep an eye even on even the most insignificant of your expenses. You are accountable not only to your partners but also to your investors. Categorizing expenses based on different departments, nature of expenses, frequency or recurrence can be helpful. For instance, imagine that you had been welcoming every potential client with a range of refreshments, but ignoring the costs because it is an insignificant amount. At the end of the year, while adding up the bill amounts, you may be surprised to realize that a hefty amount was spent on the supposedly insignificant expense category. Therefore, such a measurement can aid in redirecting funds to more worthwhile heads of expenditure.

Also Read: The Mistakes First-Time Founders Make When Starting a Business

Return on advertisements and promotional spending

It is important to figure out how much money had been generated for every penny spent on persuading customers. The channels of marketing and promotion are numerous. Online promotions, digital marketing, social media branding, print media, online and offline events, it goes on and on. Return on Advertisements and Promotional Spending is a metric that helps in assessing how effective those channels have proved to be. For instance, if you have spent INR 1, 00,000 on marketing and promotions in the month of June that resulted in a sale of INR2, 00,000, it implies that every rupee spent has generated double the revenue. 

Customer retention rate or churn rate

Suppose that you started with 10 customers at the start of the year. You lost 5 and gained 8 customers. So effectively you have, 13 customers in hand. The number of customers at the year-end minus the newly gained customers is 5. This divided by the number of customers at the start, i.e., 10 customers equals 0.5 or 50 percent. This figure indicates the percentage of customers retained for a particular period. For every start-up, the aim should be to keep the retention rate as high as possible.

Human resources happiness index

Human capital undoubtedly plays the most crucial role in delivering products and services in a business. A business is only as good as its people. The higher the satisfaction rate of people working in your start-up, the better its efficiency will be. It has been proven that companies with higher rates of human resource happiness index perform better than ones with lower rates. Therefore, it is essential to ensure robust performance assessment systems, employee engagement and recreational facilities, and opportunities for individual growth. The work environment also plays a pivotal role in increasing the human resource happiness index. For instance, a person coworking in a neighborhood office in Noida might be more satisfied than someone who has to spend 2 hours on travel every day. 

These fundamental measurement metrics can help you identify the level of performance in each of the significant aspects of business, viz., sales, marketing, income, expenditure, and human resource. The number and complexity of the metrics slowly develop as the business grows. Just keep a check at every step, and be ready to expand!

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6 Successful Ways Of Using Customer Reviews In Your Marketing Strategy

6 Successful Ways Of Using Customer Reviews In Your Marketing Strategy

by | posted in: Coworking in Noida | 0

In today’s digitized world, a consumer considers a lot of factors before making a purchase decision. With about 90% of the consumers reading online reviews and about 88% of the consumers relying on online feedback as much as personal recommendations, what your existing customers think about your offerings prove to be one of the crucial decision-influencers. 

Well, with about 57% of customers encouraged to visit a website after reading positive reviews and about 86% of people discouraged to purchase from a negatively reviewed business, making every customer happy and proactive is a must. Don’t worry, of the 74% of customers who are asked to provide feedback, about 68% of them will happily do so!

Let’s have a look at some of the successful ways of using customer reviews in your marketing strategy.

Successful Ways Of Using Customer Reviews In Your Marketing Strategy

Use It On Your Website

Displaying customer reviews on the key pages of your website acts as a stamp of approval. Whether you run a unisex salon in Hyderabad or a night café serving professionals coworking in Noida, customer reviews on your website are non-intrusive reminders of the quality of your service to every website visitor. A list of recognitions, honors, awards, and rankings is synonymous with a review by an institution or a third-party organization. Highlight them on your website!

Flaunt Them On Social Media Platforms

Given the reach and rage of social media in today’s digitized world, a single word of appreciation can take your business places. LinkedIn, Instagram, Facebook, WhatsApp, the list is unending. Convert a customer review into a social media post and share it. The power of a social media post is incomparable as it can connect your customers across time zones and geographies at the same time within a blink of an eye! If users can affirm or second your posts by posting comments, it can further authenticate your efforts. While such reviews can act a great social media content, ensure you don’t do it till the point of nagging your connections.

Use Reviews In E-Mails

E-mail marketing campaigns are one of the most trusted methods of marketing and promotion. It can boost your click-through and conversion rates. Attaching customer experiences with such e-mails can prove to increase the effectiveness of your e-mail marketing campaign. For instance, a café can attach short customer reviews as ‘their love stories’ along with mass e-mails sent across the community of professionals working in commercial complexes, corporate offices and shared offices in Noida. 

Use Reviews In Your E-Marketing Materials

Reviews can be used in various marketing collaterals such as search ads, brochures, and promotional videos. This can strengthen the credibility of your business. While brochures can include pictures and comments of your happy customers, videos can include short clips of what your customers have to say about you. Search ads can highlight the average ratings you have received on various forums. For instance, the marketing collateral of a commercial space designer in the NCR region can include snippets of how they transformed some of the cramped office spaces in Noida into a comfortable and spacious workplace. 

Place Them In Your Pricing Lists And Digital Business Cards

These are strategic placements of your customer reviews. Including them in the pricing list or pricing packages can convince the potential customer of the value that you are offering them. One review by a big-ticket client can persuade others to invest in your business. For instance, if you deal in coworking spaces in Noida, Pune, Hyderabad, and other cities, experiences of a highly popular startup about how comfortably they started in one of your offices and eventually made it big can be very helpful for your business. 

Similarly, one of the top customer reviews can be included in your e-business cards. It will give a solid reason to have your contact in their contact list. 

Also Read: How to Create Brand Awareness for Your Start-Up Using Social Media

Publish The Reviews On Your Blog

The phenomenal impact of blogging in a world where content rules are immense. A blog is a space that complements your website, showcases your expert authority on your industry, provides a forum for customers to interact and aids the growth and development of other businesses that are related directly or indirectly to your business. Make smart use of your customer reviews by showcasing them on some of the key pages, such as the most-read blog posts. This will re-emphasize your authority on the topics you have written about and instill faith in the visitors. 

How To Drive More Customer Reviews

Make it easy for your customers to drop a thought about your offerings, say by dropping a mail that includes web links to various review forums. Incentives such as discount coupons or gift cards are a great way to lure your customers into taking out time to drop a review. 

Make sure you don’t bother your customers at the wrong time and try to put up open-ended questions in the beginning to set the tone of the questionnaire. If you receive negative reviews, ensure that you respond promptly and genuinely admit as well as apologize for the mistakes. 

Take it offline if required and ensure corrective actions are taken. It is important to have an informal touch in such conversations because a formal tone can accentuate the negative experience of the customer. Customer reviews can make or break you. So keep an eye on what your every customer has to say, so you can go a long way!

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6 Successful Marketing Strategies For Early & Growth Stage B2B Startups

by | posted in: Indian Startup | 0

If you own a business that aims to serve other businesses, then marketing can prove to be a challenging task. The marketing scope for Business-to-Business (B2B) startups, unlike Business-to-Consumer (B2C) startups, is limited. B2B marketing campaigns are more well-defined and highly-targeted compared to B2C campaigns. So, if you are in the real estate industry offering coworking spaces in Noida, then your marketing strategies will be altogether different than if you run a café in some office space in Noida.  

The Beginning 

Every robust marketing strategy is preceded by an even more robust groundwork. So, start with a thorough understanding of your target market, customer profiling and competition analysis. Next, decide the right channels of communication. Then, create your marketing strategy framework consisting of well-defined goals, milestones, marketing tools and resources to be utilized.

Now that you are all set to sail, note down some of the successful marketing strategies for your young B2B startup:

6 Successful Marketing Strategies For Early B2B Startups

Create an seo-powered website

An SEO-powered website gives you a good start as optimized, crisp and constantly updated content attracts prospects. Given that 75% of visitors never scroll beyond the first page of the search results generated by a search engine, one cannot afford to undermine the power of search-engine-optimized website content. It is highly recommended to keep the content and navigation as neat and crisp as possible. A website with an overload of information can discourage visitors to spend time on your website. More of a graphic presentation, less text, more value, less marketing messages does not only make your website user-friendly and easy to navigate, but it also establishes your credibility. Once your website is set, begin promoting it on social channels. 

Start Blogging

Start Blogging

Content marketing, especially for B2B startups, can prove to be effective and long-lasting. It can be effective mainly due to three reasons. One, it is an affordable means of marketing. Two, great content establishes authority. Three, it aids in establishing relationships. Blogs can talk about tips to use your products and services, informative articles about the industries related to your potential customers, news about the latest technological developments in your field, brief informative videos, etc. It can also serve as a platform to address customer queries and concerns. Say, if you offer garden architecture & maintenance services to commercial spaces in Noida, then articles about how to make shared offices in Noida greener can help in wooing your potential customers.

Go Social

Go Social

Social media offers a range of avenues to establish your presence. While the appropriate use of hashtags on Twitter can aid in the engaging relevant audience, sponsored content on LinkedIn helps in surfacing relevant content for prospects, effectively merging inbound marketing strategies with lead-generation. While Facebook can provide a forum for your potential customers to seek support from you, webinars including presentations about your offerings can convince why you are the right partner for collaboration. You can also make use of YouTube to educate your prospective customers about your products and services with interesting explainer videos. 

Also Read: Why SEO Important for Every Business

Network and constantly interact

Attend industry conferences, meetings, gatherings, expos and exhibitions. The more you meet new people, the higher the probability of converting them into useful connections. Some may convert into customers while others may become a gateway for potential customers. Follow up with customized mailers and text messages. Industry influencers can help you with promotion as they can produce great online content by way of blogs and guest articles. Mention of your products and services or back-linking to your blog or website can act as an authentication for your business

Run e-mail campaigns

E-mail campaigns are considered one of the most effective B2B marketing strategies. Make use of data mining as it can aid in understanding consumer behavior, interests, and attitudes. Once you have the right data in place, carefully design e-mails and start sending them periodically. Tailored, intent-driven e-mail campaigns rather than mass mailing have the potential of converting prospects into customers. 

Form collaborations and partnerships

As a young startup, there may not be much scope for organic collaborations, unless you have an out-of-the-box product to offer. Signing up at incubators can be a good idea as they act as a platform to showcase your offerings to potential investors, industry leaders and experts. It also helps in finding the right mentor who not just offers the right guidance but also opens the doors for many unexpected opportunities. 

After all, marketing is all about telling the world what you have to offer and why does it make sense for people to choose your product and service over and above others. A fertile target market, a great product and the right resources combined can prove to be ineffective if you don’t have the right marketing strategies in place. 

Whether you are coworking in Gurgaon or attending a college lecture in London, ideas may click anytime. B2B businesses are a different ball game altogether. Make sure you know the rules before you begin the race and even if you do not you can always learn while you are in the race.

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