Zoom recently has emerged as a successful business which dominates the online-meeting market and gains the big achievement in this challenging time. While COV-19 strikes almost businesses in different industries, Zoom — a teleconferencing application typically used by businesses — that has been working silently for almost a decade — finally has become the hot new way for people to connect while social distancing during the coronavirus pandemic.
People might say COV-19 is their luck when it’s time all people have to work from home then it contingently becomes a becomes a super shining star. But why don’t all different businesses dominate the market but Zoom? I think Zoom has a wise strategy when it has careful preparation or it can be expressed more exactly, always focus on developing technology and their core strengths even when there are many emerging trends of other fields.
I would like to summarise a few point which Zoom overtakes their competitors such as Microsoft Skype or Google Hangouts:
1/ Focus on the improvement in a few small things
- Zoom has a built-in beautification filter, which is one of several relatively silly little details about the service that help it stand out.
- Zoom’s virtual backgrounds are another crucial detail:you can easily swap out whatever behind you in the video.
2/ Focus on the core value — the quality of call and bundled functions which are necessary for the meeting
- Zoom is much higher quality than Hangouts by a long shot.
- Record meeting
- Draw & Annotation
Regardless of the truth that Zoom is a tech company, it definitely needs to invest in technology. However, I think that investing more in technology in this blue ocean field than other similar competitors makes Zoom possess the leading advantage when it comes to the right time. I’ve recently met a few clients in the fields which seem a bit trivial and mediocre. However, they have tried to applied technology in the innovative ways to grow business.
Self-checkout POS for gambling industry
If you live somewhere in Las Vegas, there’s a high possibility that you like to bet too J My client is not an exception and he also develop the service in this gambling industry wisely. Without a lot of capital, he sells only information on which team is likely to win. The customer will still need to go to a physical or online sports book to place their bets. There will be a ton of competitions uploaded to website each day and uploaded to self-checkout POS system in real-time as well. Once a game is selected and purchased, the team who is most likely to win is shown only in an email or on a printed receipt.
Besides, it is up to the customer to find a sports book to place a bet and collect any winnings but he can recommend sports books they can place a bet and he would earn a referral fee.
So finally, the information he sold is based on proven statistical analysis from which the customer will eventually realize is quite reliable and provides a better chance of winning overall. When it came to this project, I had to spent tons of time devouring knowledge of sport betting such as Money line Probability and Odds, Spread Odds, Probability and Projected, A (Away team) and H (home team), Overbet , Underbet but what remains, it’s a simple idea.
The difference is the way he choose to invest in technology early which helps him to boost sales dramatically. Starting from selling on website, he has invested on self-checkout POS and set up them in many bar/pubs/ popular places for the gamblers
No 1 Provider in Pooja Products
Another industry which might be dominated by local vendors are worship stuffs. I’ve recently consulted a client asking for the system to sell Pooja products. Pooja is a prayer ritual performed in the morning by Hindus to offer devotional worship to one or more deities, to host and honor a guest, or to spiritually celebrate an event. Most of the people who sell Pooja might not be tech-savvy but he wants to apply the easy way to bring the better customer experience in this field. He also provide the service of fortune telling consultation, relaxed spaces for all people who enjoy the worship atmosphere.
In conclusion, if you’re working in the niche market and feel the market is too small to grow up, don’t be rush, I believe that with the technology-invested and customer-centric strategy, you can dominate the market when the time comes.