In this post, we’ll understand the meaning of this method and define the main factors impacting the cost of managed IT services, key cooperation models, and forms of managed IT services agreements.

What Forms a Cost for Managed IT Services

Managed IT service stands for handling tasks touching software development to a third-party vendor. The software development company handles the software cloud infrastructure management, data backups, solution security demands, etc.

Advantages of a managed IT service approach include:

• Access to a wide talent pool of software experts
• More time for your in-house development team to focus on core tasks
• Cutting on time and cost 

The managed IT services pricing mostly depends on your business goals and tech requirements for software to seamlessly accomplish these goals. Besides, most IT outsourcing partners allow you to augment your in-house team in case you need certain specialists and expertise.

Managed IT services may be classified by the level of tech complexity:

• Basic IT services. Here, the service provider only monitors your software, detects possible issues, and reports to you. This approach is brilliant you have the assistance of your in-house team. The cost for basic IT services is usually $70-$150/per month.
• Medium complexity IT services. By choosing this approach, you onboard a development team specialist to monitor the system and prevent collapses. Also, the team fixes the system if any tech issues occur. The price for medium complexity IT managed services is $50-$200/per month.
• Advanced IT services. In this case, the software partner provides you with the major part or the whole infrastructure. Such detailed assistance will cost you nearly $300 per month.

Popular Managed IT Services

Now, let’s undercover the most popular managed IT services among business owners:

Data backups

Robust safeguarding measures are a primary aspect that can impact the success and outcomes of software delivery. Besides, it’s vital to ensure outstanding data integrity, especially when managing and operation huge scopes of information. If you don’t establish an accurate data backup, it may result in loses with the client base and consequently may impact your budget. However, managed IT services may provide you with experts who are capable of setting up data backups automatically.

Server digitalization

Over time, it became obvious that physical hardware servers lack convenience. Server digitalization assists businesses by dividing physical servers into numerous virtual, engaging software apps. Each virtual server is autonomous and runs its own operational system. Such an approach has numerous benefits like high accessibility, reduced operational costs, and flexibility, and also facilitates better software performance.

On-site assistance

It often happens that businesses don’t have much expertise in organizing cloud infrastructure or at least don’t have niche-specific specialists nearby, so the most convenient path is to outsource managed IT services. Usually, DevOps specialists can analyze your software performance and offer strategies that may help improve it. One of the most common ways is to start using cloud services like AWS, leading to less resource spending.

Cooperation Models

Engaging managed IT services may be beneficial and also a convenient approach that is fully centered around your technical and project needs and requirements. Here are two options you can choose from: going part-time or full-time.

Part-time managed IT services

This approach will be a perfect match for you if you already have an in-house team but are seeking additional expertise to handle specific tasks. So, a particular expert will dedicate several hours a week or a day to help you support a specific part of an infrastructure.

Summing up, partially managed IT services is an option for you if:

• There is already an in-house team
• You seek unique, narrow expertise
• Some part of the work has to be done by a specific deadline

Completely managed IT services

Fully managing IT services is a great chance for small and medium-sized companies to extract the best outcomes out of software performance. A software provider with high-end tech expertise may assist you in the selection of the proper specialist for the specific work scope. By reaching out to offshore experts, you can significantly save up on investments as you won’t need to form and maintain an in-house team.

So, when who needs fully managed IT services:

• Businesses that don’t have an in-house team
• Businesses that need advice and support while creating and handling software

How Much Managed IT Services Cost

It’s very difficult to predict the exact pricing for managed IT services for your specific project. However, you’re probably still questioned about what are the main price-driving factors for managed IT services. Let’s find out below:

• Solutions complexity. For sure, the more complex the design, solution architecture, and functionality, the more it will cost.
• Development team structure. Cooperation with in-house specialists will cost you more, as you’ll need to maintain a development team and spend plenty of time on hiring. Searching for specialists offshore may help you avoid budget constraints due to the fast onboarding process and almost no operational costs needed. 
• Outsourcing region. The pricing for the provided software-related services may significantly differ. For example in North America, you’ll get quite high-level expertise, but rates are high and range from $100-$200 an hour. While in Asia you’ll meet sweet numbers, approximately $20-50 an hour, but the quality may not be satisfying. 
• Specialists’ proficiency. DevOps engineers’ skillfulness is qualified differently and may be divided into three categories: junior, middle, and senior. So the experts’ qualification level directly impacts the cost and services they’re capable of providing.

The post Cost of Managed IT Services: Price Driving Factors and Types of Agreements appeared first on R-oo-m LX.

How Netflix streaming works

Although streaming services may appear similar, they each operate differently. Now, let’s dive into the technical details of how Netflix works.

The streaming platform uses a CDN (content delivery network). Content data is stored on servers located around the world. Thanks to this, the time for the user to load data is reduced as much as possible.

The company’s service operates on a technological principle called adaptive streaming. It can be described as follows. When a user selects content to watch, Netflix sends a small amount of data to the user’s device to check internet speed and adjust video quality accordingly. Then, using the information received, the service dynamically changes the video quality so as not to cause additional downloads.

Netflix also uses several encoding techniques to optimize the video data for streaming. This includes codecs such as H.264 and VP9, ​​which transform the above data. In addition, Netflix uses per-title encoding, which analyzes each video and optimizes the encoding settings based on its specific characteristics, resulting in a better streaming experience for users.

Overall, Netflix streaming is a complex, highly sophisticated system that utilizes cutting-edge technologies to deliver high-quality video content to users worldwide. But how do you develop your streaming platform? Let’s deal with this further.

How to create an app like Netflix

Developing your streaming service is a long and expensive process. This is true not only for Netflix-like platforms but also for all others. If you are wondering how to create a live-streaming website or an app like Spotify, then the steps below apply to them as well. Let’s go through each.

Step 1. Define Your Niche

Before starting development, think about the specifics of your streaming platform. Consider the type of content and features that will appeal to your potential audience. Analyze your potential audience. Based on the analytics results, consider the most effective monetization methods.

Step 2. Define the content for your platform

Users choose a streaming service based on the content presented on it. Choose a specific niche or genre for your content rather than trying to cover everything. Then, decide exactly what you need for your platform and potential audience.

Step 3. Get Licensed Content

All popular streaming platforms like Netflix offer users unique content that the latter can watch exclusively on their service. There are two options for licensing:

• Negotiate directly with the copyright holder
• Negotiate with a distributor

Both options are relevant if you create something other than your content, as the repeatedly mentioned Netflix does.

Step 4. Work out your unique style

A recognizable visual is already half the battle. If users like the design of your streaming platform and remember it, then there is a great chance to acquire a permanent audience. When choosing a streaming service, viewers pay attention to content and the comfort of being on the site. You have two choices:

• Inherit the style of Netflix
• Develop your unique design with the help of a UI/UX designer

Naturally, it is better to be unique because you will avoid comparisons with a competitor that will not be in your favor (at least at first).

Step 5. Develop a mobile app

Your service will gain additional popularity through a mobile application. In general, applications for devices with mobile architecture are a must-have for any company today. Moreover, considering that most of humanity now uses smartphones to retain the audience, we also recommend creating a convenient and straightforward application for them.

Step 6. Add monetization

We must remember to make money; after all, you need to develop a service not out of good intentions. Based on the intended audience, choose the most effective monetization model. For streaming platforms, the most popular ways to make money are as follows:

• Paid subscriptions
• Show ads as part of a free or essential subscription
• Purchasing Content

But remember, you should be as careful as possible with monetization. If you go too far with the number of subscriptions or advertising, your target audience may leave.

And now, it’s time to discuss what needs to be developed to implement all the steps described above.

MVP for streaming services

Features of your streaming service can be divided into mandatory and secondary. Let’s go over both briefly.

MVP

 Mandatory features with which your service can be done. These include:

• Content library. One of the first elements to be developed should be a library. Content must be stored, and a system like Netflix should be designed to allow viewers to download it immediately.
• User registration. With mandatory registration, it is possible to develop a streaming service. The user can access the content only by being registered. Also, all data, including purchases and subscriptions, will be entered into a personal account.
• Security. Considering that you will provide paid content, you should develop a reliable security system.
• Search. Basic search functionality should be included, allowing users to find the content they are interested in quickly.
• Monetization. We discussed examples of monetization above. You should have at least one of the options.

Advanced

This type of feature is optional but highly desirable for integration into the service.

• Content recommendation algorithm. Offer users relevant content based on their browsing history on your service. This will make it easier to find exciting things.
• Live streaming video. Most viewers of sites such as YouTube often watch live broadcasts. Sometimes, streamers gather millions of people’s lives.
• Social sign-in. Simplifying registration will ensure more user flow to your platform.
• Reviews and ratings. Today, it is not customary to hide content ratings; users often look at material ratings, which are usually accurate.

Following the plan and implementing the features, you can develop your application to compete with giants like Netflix or Disney+. But be careful when choosing developers; look not only at the price tags but also the company’s reputation, reviews, and portfolio. Trust the experts, and everything will work out!

The post How to Build a Streaming Service Like Netflix appeared first on R-oo-m LX.

The Current State of Wealth Management

Market Valuation and Growth Prospects

The global wealth management market, which was valued at $1.25 trillion in 2020, is forecasted to grow significantly, reaching $3.43 trillion by 2030. This growth represents a Compound Annual Growth Rate (CAGR) of 10.7% from 2021 to 2030. This robust expansion is a testament to the resilience and adaptability of the wealth management industry, especially in the face of global economic challenges like the COVID-19 pandemic.

Table: Projected Growth of the Wealth Management Market (2021-2030)

Regional Market Insights

• North America: Continues to lead the market, driven by the rising adoption of wealth management services and increasing awareness of its benefits.
• Asia Pacific: Expected to grow at a high CAGR due to technological advancements and an inclination toward investing in alternative assets.

Market Segmentation

The wealth management market is segmented based on:

• Type of Asset: Including equity, fixed income, alternative assets, etc.
• Advisory Mode: Covering human advisory, robo advisory, and hybrid advisory.
• Type of Wealth Manager: Such as private banks, investment managers, and full-service wealth managers.
• Enterprise Size: Including large enterprises and small and medium enterprises.
• Client Type: Ranging from mass affluent to high net worth individuals (HNWIs), pension funds, insurance companies, and sovereign wealth funds.

Key Players in the Market

Prominent players in the market include JPMorgan Chase & Co., Wells Fargo & Company, Bank of America Corporation, UBS Group AG, Morgan Stanley, Goldman Sachs Group, Inc, Credit Suisse Group AG, HSBC Holdings plc, and several others.

This data indicates a significant growth trajectory for the wealth management market, driven by technological advancements, changing client preferences, and the increasing complexity of financial markets. The role of wealth management in providing comprehensive financial solutions to individuals, particularly in emerging economies, is expected to be a key driver of this growth.

Emerging Trends in Wealth Management

Integration of Banking and Investing

The blurring lines between traditional banking and wealth management are evident as national banks and fintechs collaborate to offer integrated services. This integration aims to provide a seamless experience for clients, combining banking and investment services under one umbrella​​.

Personalized Investing

Customization is becoming increasingly important in wealth management. Personalized, tax-efficient managed accounts are becoming more accessible, catering to the specific needs of high net worth and ultra-high net worth segments. Technologies like direct indexing and fractional share trading are revolutionizing this space, making it possible to create tailored portfolios at lower investment thresholds​​.

Rise of Digital Assets

The digital asset class, including cryptocurrencies, has seen exponential growth. From a market capitalization of $100 billion in 2019 to over $2.5 trillion, these assets have captured the interest of a wide range of investors. The challenge for wealth managers lies in navigating the regulatory ambiguity and infrastructure requirements of these new asset classes​​.

List: Key Trends in Wealth Management

• Integration of Banking and Investing
• Personalized Investing
• Rise of Digital Assets

Innovations Driving the Market

Adoption of Financial Technology

The emergence of FinTechs in the wealth management sector has been a game-changer. These technology-driven firms have introduced innovative solutions that are reshaping how wealth management services are delivered. From AI and big data analytics to IoT applications, the digital transformation in this sector is profound​​.

Democratization of Private Markets

Private market investments, once the preserve of institutional investors, are now becoming accessible to individual portfolios. This shift is driven by investor appetite for alternative investments and supported by fintech infrastructure providers. The potential growth in assets allocated to private markets is substantial, with projections of an increase from 2% in 2020 to 3-5% by 2025​​.

Family Office Services for Ultra-High Net Worth Families

Family office services have become increasingly important for ultra-high net worth families. These services provide comprehensive wealth management, including investment management, estate planning, philanthropic endeavors, and family governance. Family offices offer a personalized approach to managing significant wealth, ensuring that financial strategies are aligned with the family’s values and long-term objectives. The rise of family offices reflects the growing complexity of managing vast wealth, where a tailored, holistic approach to financial and asset management is crucial.

The Road Ahead: Strategic Shifts and Opportunities

New Business Models

Wealth management firms are exploring innovative business models to stay ahead in a competitive market. These models focus on adapting to evolving client needs and regulatory landscapes. The integration of new technologies and product offerings is central to these emerging business models​​.

Client-Centric Approaches

The shift towards a more client-centric approach is evident in the wealth management industry. Firms are prioritizing personalized services, focusing on building long-term relationships with clients, and adapting to their evolving financial needs and preferences.

Global Expansion and Market Dynamics

Developing economies present significant growth opportunities for wealth management firms. The increasing number of high net worth individuals in emerging markets like China, India, and Southeast Asia is a lucrative avenue for expansion. Firms are strategically positioning themselves to tap into these emerging markets, offering a range of wealth management product lines tailored to the unique needs of these regions​​.

Conclusion

The wealth management industry stands at a pivotal point, with unprecedented growth potential and dynamic changes underway. As the industry evolves, wealth management firms must adapt

The post The Evolving Landscape of Wealth Management: A Glimpse into the Future appeared first on R-oo-m LX.

Live streaming app development has revolutionized the way people consume entertainment. With the rapid growth of technology and the widespread availability of internet, live streaming apps have become increasingly popular among users of all ages. These apps allow users to broadcast and watch live videos in real-time, creating an interactive and immersive experience.
Live streaming apps have gained immense popularity due to their ability to provide instant and uninterrupted access to live events, sports matches, concerts, and more. The convenience and accessibility of these apps have made them a preferred choice for users who want to stay connected and engaged with their favorite content. From social media platforms to dedicated live streaming apps, the market is flooded with options for users to choose from.

The growth and popularity of live streaming apps

The growth and popularity of live streaming apps can be attributed to several factors. Firstly, the widespread availability of high-speed internet and the proliferation of smartphones have made it easier for users to access any type of content on the go. This has resulted in a significant increase in the number of users who are consuming live streaming content.
Secondly, the rise of social media platforms. Facebook, Instagram, and Twitter have integrated live streaming features into their platforms, allowing users to broadcast and watch live videos easily. This has created a seamless user experience and has further fueled the growth of live streaming app development.
Lastly, the COVID-19 pandemic has also contributed to the popularity of this kind of apps. With restrictions on public gatherings and events, people have turned to live streaming apps to attend concerts, conferences, and other events virtually. This has not only provided entertainment but has also helped businesses and organizations reach a wider audience.

Benefits of live streaming app development

Live streaming app development offers a wide range of benefits for both users and content creators and providers. Live streaming apps provide users instant access to live events and content worldwide. Whether it’s a sports match, a concert, or a conference, users can watch it in real time from their homes. This eliminates the need for expensive tickets, travel, and accommodation, making events more accessible and affordable.
For content creators, live streaming apps offer a unique opportunity to engage with their audience. They can interact with viewers through live chat, polls, and Q&A sessions, creating a sense of community and fostering a deeper connection with their audience. This real-time feedback also allows content creators to tailor their content based on audience preferences and interests, making their broadcasts more engaging and relevant.
Another benefit for content providers is the potential for monetization. Since they can generate revenue through various monetization strategies such as advertisements, sponsorships, subscriptions, and virtual gift purchases. This provides an additional source of income and incentivizes content creators to produce high-quality and engaging content.

Challenges and considerations in live streaming app development

While live streaming app development offers numerous benefits and opportunities, it also comes with its own set of challenges and considerations. One of the main challenges is ensuring a stable and reliable streaming experience. Live streaming requires a strong and stable internet connection, and any disruptions can cause buffering or freezing issues, negatively impacting the user experience. Developers need to implement robust streaming protocols and optimize the app’s performance to minimize these issues.
Another challenge is scalability. Live streaming apps need to be able to handle a large number of concurrent users without compromising on performance. This requires efficient server infrastructure and load balancing mechanisms to distribute the streaming load effectively.
Security and privacy are also important considerations in live streaming app development. Developers need to implement secure authentication mechanisms to protect user data and prevent unauthorized access. Additionally, content moderation tools should be implemented to ensure that the app’s content adheres to community guidelines and is free from offensive or inappropriate content.
Apps designed for streaming live broadcasts are becoming increasingly popular. People are now using these tools to access content on the go and share their lives with the world. Live broadcasting apps enable users to instantly connect with a larger audience in real-time.
A few popular game streaming sites, such as Twitch, and content-sharing services such as YouTube Live, are examples of this.

Applications for audio streaming

This kind of app permits users to access online audio material. This could range from songs and podcasts to voice-overs and lectures.

Apps for streaming video-on-demand

VOD (video-on-demand streaming) allows people to access TV shows and movies instantaneously, with no hardware or downloads required. Usually, users must purchase a subscription to access the full range of content and features available on a VOD service. Popular examples of these services include Netflix, Hulu, and Amazon Prime Video.

Streaming Television via applications

Live streaming of TV shows is becoming increasingly available through the use of apps. These applications are enabling viewers to watch their favorite programs at any time and on any device.
Real-time television streaming over the internet is the final kind of streaming applications. This digital transmission of TV programs is a substitute for the traditional broadcast television through terrestrial, satellite, or cable. Examples of such services include Hulu and YouTube TV, both of which give a great selection of channels for those who have cut the cord.

Crafting an App for Live Streaming: Essential Steps

When attempting to build a live streaming app from the ground up, it can be quite daunting due to the numerous aspects to keep in mind. In order to help with the development process, we have listed the primary steps needed to get started.

Establish who the target audience is and their requirements

From the outset, pinpointing the group of people that your app is meant for is essential for the development process. Establishing the connection between the value of your app and potential users is the first step.
It is prudent to base decisions on research, such as market analysis, competitor examination, and user personas. This collection of information will aid in adapting the business value, main components, and other important elements of the app to the intended audience.

Choose who you want on your squad

The next stage to achieving a successful product is to bring in a suitable team of software engineers to your live application. The hiring landscape today is brimming with activity and presents three key selection paths — recruiting internally, outsourcing, and using independent contractors.
In terms of long-term cooperation, freelance is not the most suitable option. To fulfill your tech requirements, you can either form a development team in-house or outsource to an external provider. The second option is advantageous in terms of cost and team leadership. For example, outsourcing to European companies can get you mobile developers at a rate of roughly $50 an hour, much less than the $150 rate for US-based developers.
Selecting a Content Delivery Network, Web Hosting Provider, and Data Storage Facility
Achieving rapid data sharing necessitates a dependable content delivery network (CDN). CDN providers make it possible for applications to distribute content to several data centers dispersed around the world. This means that the content is transmitted to the user from the closest data center, thereby making it speedier. Examples of CDN providers include Amazon CloudFront, Cloudflare, and MaxCDN.
Vimeo states that 67% of viewers prioritize quality when viewing a live stream. To ensure that your streaming application can withstand heavy traffic, a reliable hosting service such as Dacast or Amazon EC2 is recommended. Cloud-based resources are especially beneficial as they can be adjusted to fit the needed amount of storage.

Designing user experience/user interface

At this juncture, UX/UI developers will be crafting the outward appearance of your streaming application. To achieve success, it is essential to have minimal obstructions, a straightforward onboarding process, and a practical design. However, your app can still be successful if it is designed with a controlled chaos and luxury, similar to the case of Twitch.
The UX/UI design team must have a great deal of experience and a forward-thinking perspective in order for a design to be successful. This team will work together to combine your company’s branding and modern design elements to come up with a superior look and feel.

Construct and assess your Minimum Viable Product

Once the design plan is in place, your development team will need to decide which features to prioritize for the minimum viable product. This MVP should include the bare minimum features necessary to test the product with real users. Nevertheless, it is still essential to put the MVP through extensive testing in order to eradicate any flaws and improve its efficiency.

Free, sustain and boost

Once testers confirm that your MVP is viable, you can release it to the public. Your development team should then collect input from the users and refine the app until it perfectly satisfies the requirements of your customers and your company. To keep your solution secure and up-to-date with the latest platform versions, it is also important to do regular maintenance.

Characteristics of a Live Video Application

Live streaming apps come with a variety of features for users to take advantage of. Some of these features include the ability to broadcast live videos, interact with viewers, and save previously recorded streams. Additionally, users can monetize their streams by setting up donations or subscription fees, and can also create custom streams for specific viewers. Furthermore, many live streaming apps come with built-in video and audio editing tools so that users can enhance their streams. Finally, many of these apps also come with analytics tools so that users can track viewer engagement and stream performance.
Creating a live streaming app with essential features is key for the early version of your application. This article outlines the steps for achieving this goal.

Registering/Logging in for an Account

The registration process enables the user to create an account, making them distinguishable in the system, and also links their data with the app. The user can go through a simple social log-in or one-step registration with their email to log in to the app with the given credentials.

Broadcasting in real time

This streaming application provides a great opportunity for users to act as creators and reach their audiences without any delay. Therefore, they can stream an event, provide instruction, or even run a gaming match. As long as permission to use the camera and microphone is granted, creators can go live on mobile devices.
RTMP, an industry standard for high-definition streaming, is used by your app’s video player to connect to a third-party server. This allows both viewers and watchers to experience high-quality video.

Seeking Out

Users should be able to locate what they are looking for, such as a channel, streamer, or event, through the use of an obvious and user-friendly search bar. To make it more accessible, the content can be sorted into different sections based on subject, popularity, trendiness, and other criteria.

A Person’s Profile

This tool assists people in customizing their profile to make it distinct. It contains both basic and supplementary user details, a public profile picture, and a status signal which communicates if the user is operating presently, signed in, or not available.

Collection of user images

The user’s profile can contain a compilation of videos/music they have recorded or recently watched. This history or user gallery provides the ability to return to the content and continue playing it from the point at which the user left off. In addition, users can customize their gallery by deleting certain videos or music.
A system for providing feedback and giving ratings
Live streaming applications require active and genuine participation from their users to keep engagement levels up. To accomplish this, the platform should enable them to take part in chats, respond to streams with comments or immediate reactions, and rate the content. This data can then be used by the recommendation engine to make pertinent suggestions tailored to individual user preferences.
The user should be given the ability to personalize their comments on an application, thus granting them more authority over what is posted to the stream.

Monetization strategies for live streaming apps

Monetizing a live streaming app can be achieved through various strategies. Here are some common monetization strategies for live streaming apps:
Advertisements: Display ads within the app, either as banners or video ads. Advertisers can pay to have their ads shown during live streams or in between streams.
Sponsorships: Collaborate with brands and companies for sponsored content. Content creators can promote sponsored products or services during their live streams in exchange for monetary compensation.
Subscriptions: Offer premium subscriptions that provide users with exclusive content, ad-free viewing, or additional features. Users can pay a monthly or annual fee to access these premium features.
Virtual gifts and donations: Implement a virtual gifting system where users can purchase and send virtual gifts to content creators. Content creators can earn revenue from the virtual gifts they receive.
In-app purchases: Offer in-app purchases such as merchandise, event tickets, or access to exclusive events or meetups. This allows users to support their favorite content creators while receiving additional benefits.

The future of live streaming app development

The future of live streaming app development looks promising. As technology continues to advance and internet speeds improve, live streaming apps will become even more prevalent and sophisticated. Here are some trends and predictions for the future of live streaming app development:
Augmented Reality (AR) and Virtual Reality (VR): AR and VR technologies have the potential to transform the live streaming experience. Users will be able to immerse themselves in virtual environments and interact with live content in new and exciting ways.
Interactive features and gamification: Live streaming apps will continue to incorporate interactive features and gamification elements to enhance user engagement. This could include live polls, quizzes, challenges, and rewards for active viewers.
Improved streaming quality and reliability: As internet infrastructure improves, live streaming apps will offer higher quality streams with minimal buffering or lag. This will enhance the user experience and allow for more immersive live streaming content.
Integration with other technologies: Live streaming apps will integrate with other emerging technologies such as artificial intelligence (AI), blockchain, and 5G networks. This will enable new features and functionalities, such as personalized recommendations based on AI algorithms and secure and transparent transactions using blockchain technology.

Conclusion

Live streaming app development has transformed the entertainment industry and provided users with instant access to live events and content. The popularity of live streaming apps can be attributed to their convenience, accessibility, and interactive features. From broadcasting live concerts and sports matches to delivering online lectures and tutorials, live streaming apps have a wide range of potential use cases.

Successful live streaming apps offer a seamless user experience, real-time interaction, and personalized recommendations. However, live streaming app development also comes with challenges such as ensuring a stable streaming experience, scalability, and security.

In this rapidly evolving landscape, companies like Orangesoft have been at the forefront of innovation, contributing to the development of cutting-edge live streaming applications. Their expertise and commitment to pushing the boundaries of what’s possible in live streaming technology have made a significant impact on the industry.

By following the steps outlined in this article and adopting effective monetization strategies, developers can create successful live streaming apps. The future of live streaming app development looks promising, with advancements in technologies such as AR, VR, and improved streaming quality. As these technologies continue to evolve, live streaming apps will become even more immersive, interactive, and integral to the way we consume entertainment.

The post The Future of Entertainment: Exploring the Benefits and Potential of Live Streaming App Development appeared first on R-oo-m LX.

In this blog post, we’ll look at the basics of user acquisition management and how it can help your business succeed. We’ll explore the benefits, strategies, and tips for acquiring users, and discuss key metrics to track for user acquisition success. Finally, we’ll provide guidance on setting up and managing a user acquisition program.

What is a User Acquisition Manager?

A user acquisition manager is a marketing professional who is responsible for driving user acquisition for a company’s product or service. The user acquisition manager is typically responsible for setting up and managing campaigns, tracking key metrics, and optimizing user acquisition efforts.

User acquisition managers are typically found in digital marketing teams, as they are responsible for developing strategies for acquiring new users. They must be knowledgeable about all aspects of the user acquisition process, from setting up campaigns to analyzing performance data. User acquisition managers must also be well-versed in a range of digital marketing tools and techniques, such as SEO, SEM, and social media.

User acquisition managers are also responsible for tracking key metrics and optimizing campaigns to ensure that the company is acquiring new users at a cost-effective rate. The user acquisition manager must be adept at analyzing data to identify opportunities for improvement and make recommendations for how to improve the user acquisition process.

Benefits of User Acquisition Management

User acquisition management is a critical component of any digital marketing strategy. It helps to ensure that the company’s products are being seen by the right audience and that they are being presented in the most effective way possible. Here are some of the key benefits of user acquisition management:

• Improved user experience: By understanding user behavior and preferences, user acquisition managers can create campaigns that are tailored to the specific needs of the target audience. This leads to better user engagement and more conversions.
• Increased reach: User acquisition managers can create campaigns that reach a wider audience, leading to more potential customers.
• Lower cost per acquisition: By optimizing campaigns and targeting the right users, user acquisition managers can reduce the cost per acquisition, leading to higher ROI.
• Better customer retention: By understanding user behavior and preferences, user acquisition managers can create campaigns that are designed to promote customer loyalty and retention.

Understanding User Acquisition Strategies

User acquisition strategies are the tactics and techniques used to acquire new users. These strategies can vary depending on the product or service, as well as the target audience. Here are some of the most common user acquisition strategies:

• SEO: Search engine optimization (SEO) is the process of optimizing a website to rank higher in search engine results. By optimizing website content and structure, user acquisition managers can improve a website’s visibility and increase the number of users who visit the website.
• Content marketing: Content marketing involves creating and distributing valuable, relevant, and engaging content to attract and retain users. Content marketing can include blog posts, videos, podcasts, infographics, and more.
• Paid advertising: Paid advertising involves running ads on platforms like Google, Facebook, and Instagram. Ads are targeted to users who are most likely to be interested in the product or service being advertised.
• Referral programs: Referral programs involve rewarding existing users for referring new users to the product or service. This is a great way to acquire more users without having to spend money on advertising.
• Social media: Social media is a powerful tool for user acquisition. User acquisition managers can use social media to promote their product or service, engage with potential users, and build relationships with existing users.

Creating an Effective User Acquisition Plan

Creating an effective user acquisition plan is the key to success. To create an effective user acquisition plan, user acquisition managers must have a clear understanding of the user acquisition process and the strategies that will be used to acquire users.

The user acquisition plan should include a detailed analysis of the target audience, a list of strategies that will be used to acquire users, and a timeline for executing the plan. It should also include a budget, tracking and measurement metrics, and a plan for optimizing the user acquisition process.

Building a User Acquisition Funnel

A user acquisition funnel is a series of steps that users take in order to become customers. It is important to understand how users move through the funnel in order to optimize the user acquisition process. The user acquisition funnel typically includes the following steps:

• Awareness: This is the first step in the user acquisition funnel. It involves creating awareness of the product or service.
• Interest: The second step in the user acquisition funnel is to generate interest in the product or service. This can be done through content marketing, social media, and other digital marketing channels.
• Consideration: The third step in the user acquisition funnel is to get users to consider the product or service. This is done through persuasive messaging and calls to action.
• Conversion: The fourth step in the user acquisition funnel is to convert users into customers. This can be done through offers, discounts, and other incentives.

User Acquisition Tips

User acquisition is a complex process, but there are some tips and strategies that user acquisition managers can use to maximize their success. Here are some tips for user acquisition:

• Understand your target audience: It is critical to understand the needs and preferences of the target audience in order to create effective user acquisition campaigns.
• Focus on quality over quantity: It can be tempting to focus on acquiring as many users as possible, but it is important to focus on quality over quantity. High-quality users are more likely to be engaged and more likely to convert.
• Test and optimize: It is important to test different strategies and optimize the user acquisition process to ensure that it is as effective as possible.
• Track key metrics: Tracking key metrics is essential for understanding the performance of user acquisition campaigns and optimizing the process.
• Monitor the competition: It is important to monitor the competition in order to stay ahead of the curve and identify opportunities for improvement.

Key Metrics to Track for User Acquisition

User acquisition managers must track key metrics in order to understand the performance of user acquisition campaigns and optimize the process. The key metrics to track for user acquisition include:

• Cost per acquisition (CPA): This metric measures the cost of acquiring a new user. It is important to track this metric in order to measure the cost-effectiveness of user acquisition campaigns.
• Conversion rate: This metric measures the percentage of users who convert from leads to customers. It is important to track this metric in order to understand the effectiveness of user acquisition campaigns.
• Retention rate: This metric measures the percentage of users who remain active and engaged with the product or service. It is important to track this metric in order to understand the effectiveness of user acquisition campaigns.
• Lifetime value (LTV): This metric measures the total value of each user over their lifetime. It is important to track this metric in order to understand the true value of user acquisition campaigns.

Managing Your User Acquisition Budget

Managing a user acquisition budget is an important part of any user acquisition plan. It is important to set a budget that is realistic and in line with the goals of the user acquisition program. The user acquisition budget should include expenses such as advertising costs, staff costs, and any other costs associated with user acquisition.

It is also important to track user acquisition spending in order to understand the performance of user acquisition campaigns and optimize the budget accordingly. User acquisition managers should track key metrics such as cost per acquisition and conversion rate in order to ensure that the budget is being used effectively.

Setting Up a User Acquisition Program

Setting up a user acquisition program is the key to success. It is important to have a clear understanding of the user acquisition process and the strategies that will be used to acquire users. User acquisition managers should create a detailed user acquisition plan that includes a timeline, budget, tracking and measurement metrics, and a plan for optimizing the user acquisition process.

Once the user acquisition program is set up, it is important to track key metrics such as cost per acquisition and conversion rate in order to understand the performance of user acquisition campaigns and optimize the process. Additionally, user acquisition managers should monitor the competition in order to stay ahead of the curve and identify opportunities for improvement.

Conclusion

User acquisition management is a critical component of any digital marketing strategy. It involves creating and executing a plan for acquiring, engaging, and retaining users for a company’s product or service. It’s an essential part of any successful business, as it helps to ensure that the company’s products are being seen by the right audience and that they are being presented in the most effective way possible.

When it comes to user acquisition, it is important to understand the user acquisition process and the strategies that will be used to acquire users. Additionally, user acquisition managers should create a detailed user acquisition plan that includes a timeline, budget, tracking and measurement metrics, and a plan for optimizing the user acquisition process. It is also important to track key metrics such as cost per acquisition and conversion rate in order to understand the performance of user acquisition campaigns and optimize the process.

By understanding the basics of user acquisition management and following the tips and strategies outlined in this blog post, user acquisition managers can create effective user acquisition plans and campaigns that will help their business succeed.

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What is Storage Data Development?

Storage data development is the process of gathering, managing, and manipulating data to create tangible solutions. This process involves collecting data from various sources, organizing it in an accessible way, and then using it to create solutions that help accomplish specific business objectives. It can include anything from creating databases and applications to developing analytics dashboards and user interfaces.

The goal of storage data development is to create a better customer experience, increase organizational efficiency, and make more informed decisions. It also helps businesses gain insights into customer behavior and trends, which can be used to create better products and services.

Storage data development is a broad term that encompasses many different activities. At its core, it involves the collection, organization, and manipulation of data to create solutions that improve the customer experience and help the business achieve its goals.

Benefits of Storage Data Development

Storage data development can have a number of benefits for businesses. It can help them make better decisions, create better products and services, create better customer experiences, and increase operational efficiency. Here are some of the key benefits of storage data development:

• Increased customer satisfaction: Storage data development can help businesses understand customer behavior and trends, which can be used to create better products and services that meet customer needs. This can lead to increased customer satisfaction and loyalty.
• Improved operational efficiency: By collecting and analyzing data, businesses can identify areas that need improvement and make changes to increase efficiency. This can help them save time and money.
• Better decision-making: By gathering and analyzing data, businesses can make more informed decisions that can lead to improved outcomes.
• Increased profits: By collecting and analyzing data, businesses can identify new opportunities and make better decisions that can lead to increased profits.

Storage Data Development Statistics

Storage data development is becoming increasingly important for businesses. According to a study by McKinsey, storage data development is estimated to increase corporate profits by up to 60%. Additionally, the study found that businesses that use storage data development are more likely to outperform their competitors.

Another study by Gartner found that businesses are investing more in storage data development, with the average investment reaching $1.5 billion in 2018. This is a 10% increase from 2017 and is expected to continue to grow in the coming years.

The study also found that businesses are increasingly turning to cloud-based storage solutions and data lakes to store and analyze data. This has been made possible by the emergence of cloud-based services, such as Amazon Web Services, Google Cloud Platform, and Microsoft Azure.

Storage Data Development Strategies

Storage data development strategies are focused on how to best collect and use data to improve customer experience and business outcomes. Here are some of the key strategies that businesses should consider when implementing storage data development:

• Identifying data sources: It’s important to identify the right sources of data to ensure accurate and reliable data. This can include internal sources, such as customer records, as well as external sources, such as social media.
• Establishing data governance: Establishing data governance policies can help ensure data is collected and used responsibly and with the customer’s consent.
• Developing a data warehouse: Developing a data warehouse can help store and organize data, making it easier to access and analyze.
• Creating analytics dashboards: Creating analytics dashboards can help businesses visualize their data and gain insights into customer behavior and trends.
• Developing applications: Developing applications can help businesses create better customer experiences, increase operational efficiency, and make better decisions.

Creating Your Storage Data Development Plan

Creating a storage data development plan can help businesses ensure they are collecting and using data in a responsible and effective way. Here are some steps businesses should consider when creating their plan:

• Define your goals: It’s important to identify the goals you want to achieve with storage data development. This will help ensure you are collecting the right data and using it in the right way.
• Identify the data sources: Identify the sources of data you want to collect and analyze. This will help you ensure you are collecting accurate and reliable data.
• Establish data governance: Establish data governance policies to ensure data is collected and used responsibly.
• Develop a data warehouse: Develop a data warehouse to store and organize data, making it easier to access and analyze.
• Create analytics dashboards: Create analytics dashboards to visualize data and gain insights into customer behavior and trends.
• Develop applications: Develop applications to create better customer experiences, increase operational efficiency, and make better decisions.

Storage Data Development Tips

Once you have created your storage data development plan, there are a few tips you should keep in mind to ensure you are getting the most out of your data. Here are some tips to help you get started:

• Collect only the data you need: It’s important to only collect the data that is necessary for your objectives. Collecting too much data can be overwhelming and can make it difficult to find the insights you need.
• Monitor data regularly: It’s important to regularly monitor your data to ensure it is accurate and up-to-date. This will help ensure you are making decisions based on the most current information.
• Clean and organize data regularly: Cleaning and organizing data regularly can help ensure it is accurate and easy to access. This will make it easier to find the insights you need.
• Use the right tools: It’s important to use the right tools for storage data development. This will help ensure you are collecting and analyzing data efficiently and effectively.

Storage Data Development Platforms

There are a number of storage data development platforms available to help businesses collect, store, and analyze data. These platforms provide a range of features, such as data warehouses, analytics dashboards, user interfaces, and more. Here are some of the most popular storage data development platforms:

• Amazon Web Services: Amazon Web Services (AWS) is a cloud-based storage solution that provides a range of features, such as data warehouses, analytics dashboards, user interfaces, and more.
• Google Cloud Platform: Google Cloud Platform (GCP) is a cloud-based storage solution that provides a range of features, such as data warehouses, analytics dashboards, user interfaces, and more.
• Microsoft Azure: Microsoft Azure is a cloud-based storage solution that provides a range of features, such as data warehouses, analytics dashboards, user interfaces, and more.
• Oracle Cloud Platform: Oracle Cloud Platform is a cloud-based storage solution that provides a range of features, such as data warehouses, analytics dashboards, user interfaces, and more.

Courses for Storage Data Development

If you are new to storage data development, there are a number of courses available to help you get started. These courses can provide an introduction to the process of collecting and analyzing data, as well as tips and strategies for creating successful storage data development plans. Here are some of the most popular courses for storage data development:

• Introduction to Data Science: This course provides an introduction to data science and storage data development. It covers topics such as data collection, organization, and analysis, as well as strategies for creating successful storage data development plans.
• Storage Data Development for Business: This course provides an introduction to storage data development for businesses. It covers topics such as data collection, organization, and analysis, as well as strategies for creating successful storage data development plans.
• Storage Data Development for Beginners: This course provides an introduction to storage data development for beginners. It covers topics such as data collection, organization, and analysis, as well as strategies for creating successful storage data development plans.
• Storage Data Development with Python: This course provides an introduction to storage data development with Python. It covers topics such as data collection, organization, and analysis, as well as strategies for creating successful storage data development plans.

Storage Data Development Services

If you don’t have the time or resources to create a storage data development plan, there are a number of services available to help. These services can provide support for everything from data collection and organization to analytics and user interfaces. Here are some of the most popular storage data development services:

• Data Analytics Services: Data analytics services can help businesses collect, organize, and analyze data. These services can provide insights into customer behavior and trends, as well as identify areas of improvement.
• Application Development Services: Application development services can help businesses create applications that improve customer experience and increase operational efficiency.
• User Interface Design Services: User interface design services can help businesses create user interfaces that are easy to use and understand.
• Database Design Services: Database design services can help businesses create databases that are secure and efficient.

Conclusion

Storage data development is an essential part of building a successful business. From collecting and analyzing data to developing applications, storage data development can help businesses create a better customer experience, increase operational efficiency, and make better decisions. To get started, businesses should create a storage data development plan, identify the right data sources, establish data governance policies, develop a data warehouse, create analytics dashboards, and develop applications. Additionally, businesses should consider using storage data development platforms, taking courses, and using services to ensure they are getting the most out of their data. With the right strategy and tools, businesses can unlock the potential of their storage data development and create a better customer experience.

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In this article, we’ll take a closer look at what microservices architecture is, the advantages it offers, and the steps involved in implementing it.

The Meaning of Microservices Architecture

Microservices architecture refers to the architecture approach that designs software systems as a collection of small autonomous services shaped around a business domain. In microservices, each service is independent, has a separate codebase, and implements a single business capability. As a result, services are in charge of individual tasks and can interact using lightweight API to address complex business-related problems. The microservices approach works great for large projects where each applications’ component can be expanded separately. This reduces the time and cost connected to the entire app’s scalability because sole features can experience a considerable load. 

Microservices Use Cases

Let’s see where companies apply the microservices approach:

• System migration

Mobile or web apps built on monolithic architecture can be relocated to cloud-based systems, including microservices.

• Digital content

You’re allowed to store your media content in a scalable repository and serve it straight to the website or mobile platforms

• Transactions 

Payment service can be presented as an independent part of the process. This means payments are possible to receive while invoicing is disabled. 

• Data management 

A microservices system can scale cloud computing support for the modular toolkit for information processing.

Strong Sides of Microservices Architectures

Some software development companies are insecure about the effectiveness of the microservices approach. However, suppose you need to adjust some pieces of the application’s code. In the case of a traditional system, the entire codebase can be compromised because all the features and layers are tightly connected.  

The microservices architecture facilitates and accelerates the software development process since the code is down into individual modules where each functionality is a standalone service. I’ve rounded up the core advantages of microservices to demonstrate why many IT organizations are actively implementing it.

Increased Scalability

Since microservices architecture is divided into small services that perform autonomously, it is allowed for smooth adding, modification, removal, or scale of all the demands for one specific component. This can be executed without disturbing other elements that encompass the software. When demand grows, the programmers only need to update or redirect more resources to the microservice influenced by the growing demands.

Enhanced Fault Isolation

Complex applications are more resilient to single component failure. Put differently, if one module fails, the software is capable of running independently, relying on other microservices. 

Tech Stack Agnostic

The microservices experts can apply any programming language and technology stack for creating microservices-based applications. The choice will be limited only by project requirements and specialists’ skill sets. Moreover, it’s possible to connect microservices operating on different platforms. Still, services are able to interact with each other. 

Faster Product Development

Imagine you have a large, complex project and require additional specialists working on your side. Then, the microservices approach is a great choice due to its added simplicity. It’s easier to figure out what each service stands for instead of delving into monolithic application development. It will result in quicker project development and reduce time to market. 

Improved Data Security

Microservices system relies on special APIs to guarantee that only authorized users get access to the software. In addition, the team can monitor and control who enters the system and what data is browsed. Thus, it’s easier to comply with data security regulations such as  HIPAA.

Things to Consider Before Microservices Architecture Implementation

As you can see, enterprises have advantages from microservices architecture. However, incorrect implementation can slow down the development process and may not recoup the investments made in this  technology by not making the most out of it. Therefore, here are several steps you should follow to adopt a microservices model for better results.

Step 1. Determine Your Business Goals

First and foremost, you should understand whether your business  needs such an approach and what goals you plan to achieve. Keep in mind that microservices architecture requires an additional workload. If you’re a startup or you already run a good working server, traditional architecture will suit you best. 

Step 2. Cooperate with Experienced Specialists

Adapting your web or mobile platforms to a microservices architecture affects the established workflow performance. Since it implies not only a technological transformation but also an administrative one. That’s why you need to ensure that your team is experienced enough to develop their own microservices integration strategy. 

Step 3. Decide on Programming Language

As mentioned earlier, the team can work with different coding languages and frameworks and launch applications on various platforms. That’s why the technology stack needs to be discussed before starting coding. That’s why it’s vital to order IT consulting services to be aware of which tools suit best. 

Step 4. Keep Data Consistency

The designing microservices focus on data setting changes. Hence, sharing information storage between microservices should be prevented, even though it’s the quickest way to bring them together. Joint use will have a negative impact on the platform’s performance. Furthermore, any modifications done will change the implementation of a component and influence other components. This may also have an impact on software modernization services. 

Step 5. Agile Frameworks

Since microservices architecture represents a number of independent modules, it needs small teams who will support the Agile software development methodology and take care of module maintenance. So if there is a large team of professionals, it should be divided into small ones and provide them with more discretion. 

Step 6.Think Over a Good Monitoring System

How to understand that the migration process goes in the best way? It should be measured. It’s critical to track system performance and corresponding metrics. For example, you can set up notifications and automatic reports generation. 

Wrapping Up

The microservices approach is flourishing and has an unprecedented impact on software development. It focuses on managing specific services rather than considering the application as a monolithic system.  It leads to a smooth development process, strong data security, and greater compliance, thus improving users’ experience and business growth. However, microservices architecture adoption requires thoughtful preparation and proficiency in the field. So the best way to successfully implement microservices is to cooperate with an experienced vendor and discuss your plans with them.

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The actions you do to move potential customers through your sales funnel are collectively referred to as lead management.

Lead management reduces the amount of leads you overlook and maintains contact with important prospects.

CRM lead management streamlines the process by automating numerous phases, improving data analytics, and centralizing all of your information.

Business owners wishing to use CRM software to enhance their lead handling procedures should read this article.

You’ll be more likely to overlook some prospects who could be wonderful for your company or concentrate on leads that weren’t ever going to be promising without an efficient lead management plan. Without CRM software to improve your lead management strategy, you’ll also find it difficult to differentiate between these groups.

Lead management – what is it?

Moving a sales lead or prospect from one level of your sales funnel to the next is known as lead management. By continuously monitoring incoming enquiries, matching leads with a corporate sales representative, and documenting all interactions between leads and your business, you can manage your leads. Your lead’s sales representative should also qualify and rate the prospect as part of lead management, and they should routinely review their evaluations.

Author’s note Looking for the ideal CRM program for your company? To speak with one of our vendor partners about your needs, please fill out the form below.

What significance does lead management have?

Lead management is fundamentally the art of converting prospective customers into paying ones. However, in reality, lead management goes beyond conversion. Additionally, it involves striking a delicate balance between seeking out new clients, staying in touch with existing leads, and ensuring that none of your leads are lost in the process.

The greatest way to illustrate the value of lead management is with an illustration of this balance. Let’s say your business suddenly obtains a flood of new leads as a result of recent, extremely positive media attention. You’ll now need to strike a balance between qualifying, scoring, and nurturing a variety of fresh leads while still taking care of the prospects you were previously nurturing. Without an efficient lead management approach, you run the risk of overlooking or completely missing out on potential new clients.

Missing out on new leads frequently prevents prospective sales from being realized. The fundamental tenet of lead qualifying is that not all leads are worthwhile of being pursued. Your business is far more likely to track all significant leads, advance them through the sales pipeline, and make sales if you use CRM software to manage this process.

How does CRM integrate with the lead management process?

Lead management and CRM systems go hand in hand. Utilizing the advantages of lead management is made simpler by the best CRM software, like these:

Qualification and evaluation of leads. 

For properly qualifying and scoring your leads, CRM software is essential. Without CRM, you are unable to centrally display lead scores for the benefit of your entire team, and this hinders your sales strategy because your team is unable to prioritize appropriately.

leading data. With CRM software, you can access all the information you require about a lead on a single screen from the same user interface. This feature is a significant improvement over manually keeping paper records or producing different papers for each sales lead.

Accountability of the sales rep. 

Even the finest sales representatives can always do better; nobody is flawless. Such enhancements are an element of lead management since, for instance, a rep’s average response time improvement might result in more happy leads and, consequently, more sales. Response times and other statistics that hold your team accountable and point out areas for development can be tracked by CRMs.

reporting in charge. You would need more time and mental energy to determine that the majority of your leads fall into specific demographics if you kept all of your sales data in different documents outside of a single system. With CRMs, you can quickly create reports based on these insights in addition to centrally storing this crucial lead management data. What you learn can be applied to developing demographic marketing strategies that target the demographics of your leads.

How does CRM support the lead management process at each stage?

Let’s examine each stage of the conventional process and see how CRM fits into each to better understand why CRM software is great for lead management.

1. Lead generation

Lead acquisition, including using lead capture forms, is the first step in the lead management process. Without CRM software supporting your lead capture form, the lead data you obtain may be waiting to be manually added to your sales records in some digital location. Each form’s data is instantly uploaded to your database as a new contact card when you use a CRM. Then, some CRMs will automatically create tasks to contact the lead.

If you decide to get in touch with your lead, you may do so right from your CRM. Because the software immediately ties these messages to the lead’s file in your CRM, this function also improves lead management. You may follow a lead’s activity and interacts with your communications thanks to this linkage.

2. Lead augmentation and monitoring

A prospect typically inserts their name, company, and pain points onto your lead capture form. To complete all the gaps between these data points, work on lead enrichment and tracking during the lead management process. You can do this by using the data you can find on the lead’s corporate website, LinkedIn, and other open sources; occasionally, your CRM can find and save this data for you automatically.

The tracking of all of your lead’s interactions with your business goes hand in hand with this improved knowledge of your lead. Although you can track each lead’s activities separately using social media analytics, website back-end data, and email marketing tools, your CRM software does this all at once. You will gain additional insight into the needs and desires of your prospect when your CRM tracks your lead’s brand involvement.

3. Qualification of leads

Engagement monitoring and lead data analysis are the two main components of lead qualifying, and CRM software may greatly speed up both of these processes. [Read our article, “How to Qualify a Lead,” for more information about lead qualifying and what distinguishes exciting leads from uninteresting ones.]

4. Distribution of leads

Lead management can become challenging at this point. Some situations can result in a massive influx of fresh leads. You may manage this rise in leads with the use of CRM software. The software allows you to specify criteria that automatically matches fresh leads with qualified sales representatives. By doing this, you’ll have a quick plan in place to direct leads to the team member who is most qualified to advance them through your sales pipeline. Additionally, you’ll save time by not having to consult your team to decide who should pursue which fresh leads.

Additionally improving your multi-territory sales process is CRM lead distribution. Your CRM can be configured to automatically assign fresh leads from a specific area to a particular team of sales representatives. The appropriate rep will then be selected from this group by your CRM depending on further factors. By doing this, a representative operating out of your second office won’t, for example, be collaborating with someone near your first office.

5. Lead nurturing 

Lead nurture is only one step in the lead management process, despite the fact that the two terms are sometimes used interchangeably. It includes all of the activities that follow the capture, enrichment, tracking, qualification, and distribution of prospects. Create targeted content, communicate consistently across numerous channels, and perform more tasks for which CRMs are well-suited.

Conclusion

All communications may be tailored and organized with CRM lead management. For the fullest understanding of the prospect’s position in the sales pipeline, you may also keep track of all interactions the lead has with your emails and material. You’re only getting a partial picture of your leads without a CRM to automate and organize your lead handling, and that won’t lead to sales. CRM lead management equips you with all you need to increase conversion rates and optimize your sales strategy.

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Internet of Things: The Essence and Features

To begin with, let’s figure out what the IoT is. So, the Internet of Things is a system of interconnected devices equipped with unique identifiers (UIDs) which can share data over a network without human intervention. It contains the following components:

Sensors 

First of all, the system needs to gather information. So it operates various sensors that transmit the collected data to devices; for example, a motion sensor, a humidity sensor, a temperature sensor, and so on.

Connection

Another critical element that unites all the components into a single system is their connection. Therefore, IoT devices use some protocols to interact, which include:

• WiFi. This protocol is one of the most widely used and allows the transmission of large amounts of data. However, the range of interaction is usually limited to about 50 meters. 
• Bluetooth. An excellent option for wearable devices. It allows sharing of small amounts of information over short distances. 
• NFC. A Near Field Communication, which many people know as a contactless payment method, is also an excellent protocol for IoT. Although its range is limited to 10 cm, it offers increased security for data transfer.
• 4G/5G. This protocol is rapidly gaining popularity due to its advantages. These include a wide range, since mobile communications are available almost everywhere, and a high data transfer rate. 
• ZigBee. It is one of the low-energy protocols. It can transmit small amounts of information with a high level of security. 

Analytics

IoT systems are equipped with an analysis function to separate the necessary information. Thus, the system selects the most valuable data and transfers it to the management software.

IoT Impact on Business

The Internet of Things has a vast number of advantages for businesses. The main one is the automation of the main processes. So let’s discover how different industries can benefit from IoT implementation:

Healthcare

Using the Internet of Things in medicine makes doctors work 

and patients’ lives much easier. The introduction of technology helps to save time and reduce risks. The most common are wearable devices. They allow monitoring of patient indicators, such as heart rate, weight, etc., showing all the information in special software. There are also a lot of smart medical devices, such as inhalers. Patients can track it by GPS and receive notifications if they have forgotten it somewhere.

Industrial Business

When it comes to manufacturing, there are many applications for IoT. For example, you can easily control the quality of the manufactured products to correct possible shortcomings at the stage of creation. Also, IoT technology makes it possible to control the condition of equipment and simplify interaction with it. 

Agriculture

Agriculture needs smart solutions just as much. With the Internet of Things, farms can save time and costs without sacrificing efficiency. For example, IoT helps to automate watering, fertilizing, and crop control. 

Education

In this area, the application of IoT also has tremendous promise. For example, using RFID enables registering students’ presence in the classroom, which helps save the teacher time. Also, a school navigation system and an effective security system can be implemented. 

In addition, IoT devices can also be employed in the supply chain, in warehouses, in banking, etc. 

Risks and Challenges of Implementing IoT

Although the Internet of Things has a considerable number of advantages, there are certain risks associated with this technology. Let’s learn how to deal with them.

Security. The IoT network may have some security gaps, which can lead to information leaks. There are two ways to avoid this: you can use a software vendor to build custom security solutions or implement a system from a top IoT company that offers high security. 

Integration. Not all IoT devices are compatible. To avoid ending up in a situation where the network is not working correctly, it is worth implementing a whole Internet of Things system from one vendor.

Strategy. IoT implementation alone doesn’t guarantee instant success. You need a specific approach to achieve the best results. You can turn to outsourced software vendors who can implement the Internet of Things and provide complete consulting on the most compelling IoT strategy.

Wrapping Up

IoT is one of the leading technologies for business today. Implementing the Internet of Things is an excellent option if you want to automate most processes, reduce costs, and outperform your competitors. 

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Basic types

There are three types of cable for the Internet: coaxial, fiber optic and twisted pair.

Twisted Pair

This network cable is a suitable solution for local area networks. It consists of two or four twisted pairs of wires. The two wires are connected in pairs and are only used to send or receive signals.
The principle of twisted pair is to connect two nodes and use separated media to transmit data in different directions.

Twisted pair connects equipment up to 100 meters away in a single network. Because of its low cost and ease of use, it is increasingly being chosen to form Local Area Networks (LAN) and to carry the Internet indoors.

Optical Fiber

Fiber optics is the fastest way to transmit information today.

Among its advantages:

• high bandwidth;
• long service life;
• rapid detection of unauthorized connections, which makes the network more secure;
• high noise reduction, good protection against interference;
• fast data transfer.

Fiber-optic network wires use the method of transmitting light rays using total internal reflection. An important advantage of such a cable for connecting to the Internet is the lack of restrictions on the length of the backbone. That is why it can connect significantly distant objects.

Coaxial

This type is used in security alarms, video surveillance and television. The principle of its work is the transmission of radio frequency electrical signals, and the strength of the signal is closely related to the length of the trunk and the distance to which it will be sent.
Coaxial cable can be thin and thick.

The diameter of the former (category RG-58/U) is up to 0.5 cm. It is highly flexible, but the signal transmitted through it fades quickly. It can be used to send data over short distances, the maximum speed is up to 10 Mbit/s. Wave impedance – the main characteristic that affects the quality of the cable and the transmitted signal – is 50 ohms.

The diameter of the thick cable is 1 cm. It has increased rigidity and is mounted with expensive equipment. This category is RG-11 and RG-8. Wave impedance of the first – 75 ohms, the second – 50 ohms.

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