There is always a lot to learn from startups success. According to a study by Forbes 80% of startups fail miserably after just 5 years of inception. The rest 20% must be doing something different from these 80% to survive in this ruthless corporate market where technology changes by the second and customers are highly precarious. WebEngage is one such startup who managed to stay afloat when many of its peers were drowning.
The story of WebEngage speaks of reforming product, putting garnered experience into use and shifting the perception to reach the target. This product, WebEngage is an online customer engagement portal which is for the benefit of e-commerce companies trying to engage positively with their customers.
The Origin of WebEngage
When the co-founder of WebEngage Avlesh, first set out on this journey, WebEngage was nowhere in the picture. He just wanted to come up with a solution that would have groundbreaking advantages with an excellent technical team. He was employed at Burrp, a restaurant review website where he met the other would be co-founder of WebEngage Ankit Utreja. Their current teams did not understand that the project at hand was doomed and had no scope. When this eventually happened they moved onto a new project Webkippler. This was not an easy project and faced with monetizing issues. And so they finally moved on to conceive the idea of WebEngage.
WebEngage could gain such success because it was a comprehensive product. It supplied all the essential features that were required like customized surveys, push notifications etc. but also possessed the additional charm of relieving the hard spots with which marketing teams usually struggled. Their approach to product creation was a different one- ‘instead of creating a product for the market, they first created a market for the product’. This proved to be very beneficial as they could manipulate the customers into realizing that they did require this product.
Creating the market was the first obstacle they face. It is difficult to make room for a new services when the already present services are fighting head over heels. To make your customers understand that they require this product for essential functioning is a challenge in itself. Second obstacle was sales, they first targeted developers for this project but it instantly backfired. They knew they were looking at the wrong place. Third obstacle was to pull in giant companies into the sales fold. They started with many Indian giants like MakeMyTrip, Yatra, Snapdeal etc. and were able to bring in their first enterprise as a customer when MakeMyTrip sealed the deal. Soon other giants started enrolling and they could get 8 giants in the first 3 months. They now have thousands of customers with more than 30,000 websites with WebEngage integration.
Some key points can be learned from the success of WebEngage
- Realize the scope of project and when it becomes clear that no fertile ground is available it is better to move onto next task.
- Play to your strengths. Come up with a product about which you have extensive knowledge.
- Learn your customer pool. Many good products do not create sales because they are not projected to the proper customer base.
- Once initial establishments are done, think about the big picture and how to increase your revenue.
- Be ready to make fast decisions and revamps. Your product should be flexible so that it can jump from market to market in order to make deals.