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What is Zoom? | Zoom Business Model

by Shamsul

What is Zoom? | Zoom Business Model

 
Table of Contents
 
What is Zoom?
 
Zoom Business Model
 
   Free plan
 
   Freemium model
 
Zoom’s key partners
 
  Individual Users
 
  Business & Enterprises
 
  Investors
 
Zoom’s Operation Model
 
  1. Host and Schedule Zoom Video Conferences with their Contacts
  2. Join Zoom Meeting
  3. Chat with the contacts within Zoom
 
How does Zoom make money/Zoom Revenue Stream?
 
  Subscription plan
 
  1- Zoom Basic
 
  2- Zoom Pro
 
  3- Zoom Business
 
  4- Zoom Enterprises
 
Zoom’s Rise to Popularity
 
Why Zoom?
 
   Zoom’s free plan
 
   Reliability
 
   Low Latency
   
  
The word Zoom is now known to everyone due to the situation of isolation generated because of the pandemic. The government imposes that each person should be in quarantine situation in their houses and maintain social distance among all. The world has been facing this situation as of the pandemic, and it is obvious that all offices, schools, or, say, the whole market were closed for a period of time by the government. People are using in offices or workplaces, but these days it is very common to all of us as many are working remotely or, say, from home. Even it is used for education too and many purposes.
 
 
What is Zoom?
 
Zoom is used for video chat for everybody and office purposes. Zoom was invented in 2011 by Engineer Eric Yuan, the former of Cisco’s WebEx, the company that offers video conferencing tools. They also started Zoom Cloud Video in early 2013, which became very beneficial for office purposes.
 
Zoom is the platform that allows the user to interact with others online by sitting on their couch at home. This comes able due to the SAAS platform what is SAAS? The complete form of SAAS is Software as a Service, which means the user utilizes the software and pays rent to the company. All activities are held online by users, and this makes the work activities more effective and efficient.
 
Zoom helps the employee to be present online to complete his/her duties even if they cannot be present physically; they cannot come to the office for any reason.
 
This innovation is making work easier for everybody, and users perceive ease of use and usefulness. This provides benefits to both the employee and the owner, too. Whenever the employee cannot come to the office, they can take advantage of zoom. On the other hand, the business workflow can’t be stopped and can lead to success quickly.
 
 
There are many benefits of zoom it permits an individual to share whatever is shown on their screen. It is very helpful, particularly for introductions and instructions to show a note which means teachers teach in a well-mannered and proper way using innovation when it is hard to go to school. This can happen by using a zoom meeting room, which is the most useful feature of zoom. When talking about zoom meeting rooms then, it is very common these days, which essentially alludes to video gathering or online courses facilitated utilizing the zoom.
 
You can use Zoom through any device like Android, iOS, Windows, macOS, and every device with an internet connection. This is the best for office purposes compared to others like Skype or other video chat applications.
 
Zoom has the ability to register over 40 million users on its application, with 1  billion meeting minutes served in two years as it does. The use of zoom is running very fast it has reached 1 million participants in just 5 months.
 
 
Zoom Business Model
 
Zoom is the user of the freemium business model, and it has 4 different types of subscription tactics in which one is the cost-free plan that everybody can use or enjoys the feature through using the application.
 
Mostly free plans are in use frequently these days, so have a look at this:
 
·      Free plan
 
Zoom has a cost-free plan for their users only, so every individual can use or take advantage of zoom video conferencing. It includes one-to-one meetings and allows around 100 participants with around 40 minutes. This feature is very beneficial for users who are bound to work from home or who are on remote work. This is a free plan and enough for primary usage, and due to this plan, this application has become very famous around these days of the pandemic.  It offers everything free as compared to competitors.
 
They are not like Zoom; it is a free application; however, it also has some paid features that enhance the work quality of the users. The paid plan features are as follow:
   
 
  • Increasing meeting hours
  • Enhancing the number of entrant to more than 100
  • Increase support staff
  • And many other unlimited features
 
Once the user uses the free model, it automatically purchases the new features to enhance the quality and effectiveness of work. The freemium model has let zoom gain more reach and adoption rates other than paid.
 
 
·      Freemium model
 
This is the model in which the essential services are free, but to use premium services, users to pay a particular amount for using them. The freemium model strategy differs from the premium one, like in freemium. The marketer lets the user use the basic one; then, it moves towards the premium one to enhance their work.
 
Every giant organization uses the freemium strategy to grab as many customers as possible.
 
 
Zoom’s key partners
 
Following are zoom’s key partners:
 
·      Individual Users
 
Every singular client structure is the center of Zoom’s business and deals. Zoom’s development has risen exponentially since it was first propelled in 2013.
 
Zoom has grown very fast, and it has increased in users very rapidly due to these days. People use zoom for organizational purposes, but it is now in use by individual users. The users are grown huge just because of the pandemic situation around the world. The rate of users is enormous in March instead of the total in 2019. The active users on the platform are around 2.2 million monthly, bringing the total number of users to around 12 million. Zoom, as of composing, has empowered more than 200 million to take an interest in video calls daily.
 
·      Business & Enterprises
 
The target audience of Zoom is businesses, ventures, and companies. It was built for the purpose of business to make them more efficient and effective. But now, it is being used by many corporations like universities, government agencies, medical care agencies, IT companies, and many others.
 
·      Investors
 
The investors are the main source of success and operation for zoom as they play a vital role in each step of the business. Investors are coming in large numbers to invest in the business as it has become the most growing one these days because it is very helpful all around the globe. It has become the most important part of every business globally. Many organizations have funded zoom, which increased to around $145.5 million from 2011 to 2017.
 
Zoom has the respect of being said Unicorn organization in the mid of 2017, allowing its finance to exceed $100 million in the series D financing from sequoia capital. It also appealed for IPO in March 2019 and released the news to the universe on 18th April 2019. Last, with the IPO, it accumulated around $16billion (at $36 percent).
 
 
Zoom’s Operation Model
 
As we have discussed, it is a very practical and beneficial application for all of us when it comes to using it for professional reasons. It can lead to an intelligent way of working efficiently. Zoom has many features, as we all know, but some of them are as follows:
 
1.   Host and Schedule Zoom Video Conferences with their Contacts
 
It allows the user to easily do a video conference with the contacts or to whom they are responsible for communicating or reporting. You can schdule the meeting on zoom, which means organizing the work properly. The time is for all, so everyone can discuss the issues or duties.
   
 
2.   Join Zoom Meeting
 
All can gather and make their meetings happen without physically presenting in the office. Zoom has made everything possible without the physical appearance of the office, and it also allows the management to manage each and every work in a very professional and organized way.
 
3.   Chat with the contacts within the Zoom
 
People can easily communicate through chatting also, but it doesn’t mean that zoom is just offering video conferencing to communicate. It offers you to chat also if not feasible with the video. It gives all those facilities in just one application so that everything can manage appropriately. Zoom has created the facility condition for the user that they don’t have to go for another application to meet the end of work. It provides all features in just one application.
 
 
How does Zoom make money/Zoom Revenue Stream?
 
·      Subscription plan
 
In the above, it was clear that zoom also offers some paid features, so it’s here that it offers a subscription plan for the users on specific components to enhance the quality of work. Let’s discuss the subscription plans those are four in number and are very simple:
 
  • Zoom Basic
  • Zoom Pro
  • Zoom Business
  • Zoom Enterprises
 
·      Zoom Basic
 
The basic plan has allowed the user to have up to 100 members in solitary video gatherings (Video conferencing); endless one-to-one gatherings, and can get online help also. The user will also have extra highlights on the video calls and website, which improves the coordination of gathering. The central idea is that the life of gathering or the total number of minutes for a video call is restricted to 40 minutes only. Another group called with the same members can be done easily but after a cooldown or rest time of at least 10 minutes. Zoom’s basic plan is increasingly fit for individual use cases.
 
·      Zoom Pro
 
The pro plan has some advanced features, but they contain a certain amount that is around $14 per month the pro plan also has all features that are available in the basic plan those are free, but the significant difference is that the pro plan has some certain additional features that make work more practical like the time of video increased to 24 hours instead of 40 containing just 40 minutes only, it also makes able that a user can add more than 100 participants and integration with Skype for business purpose and many more that improves the job.
 
The pro plan is better than the basic one because it improves the job, and users can get pleasure from extra features.
 
·      Zoom Business
 
The business plan is different from the others it is necessary that 10 individuals should present in the group then it can be utilized. The business plan is around is estimated to around $19.9 every month.  As the name of purpose, the business plan is progressively for a little too medium organization. The business plan extends the highlights offered by the pro plan alongside heaps of included advantages. The business plan can have 300 members in video conferencing, which is not enough if the user pays more, then they add more members too. The other benefits are dedicated telephone support, custom messages, URLs, space, and administrator ease.
 
·      Zoom Enterprises
 
The enterprise plan starts from $19.9 every month, and it requires that there must be 50 individuals present in the group. As the name reason, the enterprise plan is basically for giant organizations and for businesses on a small scale.  The enterprise contains all those features that are available in the business plan, but in the enterprise plan, the user can enjoy more ease of use by paying more. For example, the user can add up to more than 500 members; of course, unlimited scattered storage will be available. Also, you can avail the limits and other Z rewards, like examination, other instruments, and devoted care staff.
 
 
Zoom’s Rise to Popularity
 
Zoom took the boom when most people were on work from home due to the pandemic. Everything was closed, and the whole world was working from home like remote working. The total market was closed due to social distancing. Every man has to close the work, but it comes with total loss that’s why people decided to work from home and then started using these types of applications.
 
In any case, even before telecommuting became a web sensation, Zoom had been mainstream among the undertaking swarm. It was, by and large, effectively embraced by schools since zoom is gratis till K-12 in loads of nations. This helped increment its statement of mouth reach.
 
On the other side, it has also become the cheer-up platform for users as it contains all things like chatting, video conferencing, and many others. People have made zoom for also socializing as everybody is staying at home and getting sick of this pandemic. That means it is not just for business purposes but has now become more useful for every individual, either for work or socializing.
 
 
Why Zoom?
 
We all have one question there are too many applications on social media, but why zoom only?
   
 
The answer is very simple zoom has an advanced and very well-organized platform, but some points are:
 
·      Zoom’s free plan:
 
It offers free plans that have many features. You can use free of cost, and it can easily manage their work moreover, it is very effective when you compare to the competitors.
 
·      Reliability
 
The most important is that it is easy to use and very simple, and the features are prominent and presented simply. It makes the work easy and effective in manner.
 
10 consecutive video calls show the huge difference in reliability and stack positioning:
 
  • Zoom (by far the best)
  • Facetime video (for 1:1)
  • G meet/hangout/suite/whatever it is call now
  • Audio by traditional phone
  • Whatsapp video (for India mostly)
  • BJN
 
·      Low Latency:
 
Zoom’s recording attempt to remain under 150 milliseconds since it is after milliseconds that a discussion begins to feel unnatural, and by improving the associations on per gadget premise instead of concentrating on the most exceedingly terrible ones insider savvy.
 
 
 
 
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  Virtual Teams  
 
 
Better TipsBusinessManagementMarketing
 
Best Ways for Handling Virtual Teams and Meetings
 
 by Shamsul   
 
 
 
 
 
Since the world is being hit hard by the Corona Virus pandemic, the global workforce has been forced to work from home. With this new trend of remote working, there is great emphasis on the reliance on telecommunication. Organizations realized a new fact that it is the need of the hour to develop strategies in order to communicate digitally. So, leaders must alter their ways so that they could effectively manage their virtual teams and meetings remotely.
 
People who have been working remotely from home admit the easiness. However, working from home virtually has many advantages, it could be very challenging at the same time. Research shows that there are some specific restrictions in managing virtual teams. It is like non-homogeneous participation of the people, issues in developing trust, and complications in resolving the conflicts.
 
The co-located team members also experience frustration that is an amalgamation of technological glitches during virtual meetings, connectivity problems, and teammates’ various expectations about comfort and the utilization of technology.
 
To win against these hurdles while seizing the advantage of the opportunities, we recommend the following tips for distant collaboration and issue-resolving while supervising virtual teams.
 
 
 How to Manage Virtual Teams- Here Are the 3 Tips 
 
The following three tips to manage virtual teams are extracted from a research “white paper” by the Center for Creative Leadership on handling virtual teams.
 
1- Build up Communication in Real-Time & Train Your Team Using Technology 
 
The success rate of your organization will be higher. If you often engage your team members in face-to-face virtual meetings. You must use real-time technologies. This is because video conferencing tools, like “Zoom,” allow the team members to interact verbally. Consequently, communication becomes more natural and comfortable. Non-verbal communication is an important element for effective and strong virtual communication.
 
Giving training in software technologies and tools to your team members can help your organization.
 
A survey was conducted before the pandemic. It revealed that 60% of companies did not utilize virtual tools for their leaders and teams. For the companies that did provide some training, more than 80% of their respondents highlighted that virtual training was not a prime concern.
 
Especially for organizations with few connections, training is crucial to help the members get off in the right direction while using modern tools and technologies.  
 
For efficient communications, training describe which tool is better for what purpose. This will help in preventing the same information transferred via various mediums and no one can overlook the work.
 
2- Overpower Time Zone Differences
 
Teams that are over various time zones can engage themselves easily. They can work long hours to fit in each other’s time zones. This is especially an apprehension during the time of the pandemic. When people are working from home and experiencing blurred borderlines between personal and professional duties. Be conscious of the fact that due to long work hours, your team may be on a path to physical and mental collapse as it would be difficult for them to set apart from work.
 
When you have scattered teams, you can follow the tips below for better virtual management and keep members safe from burnout.
   
 
Ensure that your team members are talented enough to get great work done during their standard working hours.
 
Equip your team with tools for making schedules and guidelines on connectedness to reduce late night and early morning meetings. The international virtual teams especially require clarity on the time of their availability, including on local holidays and weekends.
 
Formalize team norms and provide additional support for recovery practices. The teams that are more geographically scattered have a lower tendency of team commitment. Such teams can benefit from extra support to meet face-to-face at crucial times throughout the whole project.
 
Make sure that all your success is perceptible and celebrated to help in building team dedication and keep up the confidence high.
 
Do not forget that although your workers are often ready to work extra hours when necessary and inevitable, these long hours are not sustainable. Most importantly, recognize that providing your people to manage hitches, anxiety, and uncertainty results in stronger and more flexible team members who are ready for future challenges and a stronger organization as a whole.
 
3- Contemplate Your People’s Other Commitments
 
Your team members can only be overtaxed so far, and the more teams they participate with, the less time they can dedicate to every project. Taking the following steps will ensure your team members’ engagement.
 
Ensure that the size of your teams is optimum. According to research conducted by the Center for Creative Leadership, an optimally sized team is one that includes 5-9 members.
 
Be conscious of your team members who are working simultaneously on various teams. Predictably, the members who work on more teams, the less efficient they are.
 
Differentiate which team members are core and which team members are peripheral. Core team members are the main contributors who are highly committed and remain associated with your team for a longer time. Peripheral team members assist the team’s work, but their involvement with the team is temporary. At the start of a project, describe the role of each team member and the anticipated contribution.
 
Refrain from overburdening the high performers with excessive workload. Limit their responsibilities, specifically if they are core members of your team. It will ensure smooth working and no one overloaded.
 
 
Design and Support Your Virtual Teams by Keeping in Mind this Management Checklist
 
Fabricating the appropriate conditions for virtual teamwork in order to succeed is crucial in the early phases of the development of a team. We are mentioning a checklist that can help you in designing your teams and enhancing their future performances.
   
 
Clearly express the organization’s vision and objectives to all team members. This is even more crucial in times of catastrophe.
 
Choose team members on the basis of individual abilities and talents which include interpersonal skills and technical competency.
 
Once you have developed your teams, instruct the team leaders to clearly articulate the team’s goals and mission so that all team members are on the same page. 
 
Decide procedures for making decisions, transferring information, and sorting out conflicts or misunderstandings.
 
Establish a communication channel for conversations or process questions that are separate from the assignment-related communications.
 
Clarify the tools that teams have for establishing communications with one another on a daily basis.
 
Make sure that team members have obvious goals and suggest to them possible approaches to execute their work.
 
Recognize the team’s efforts individually and as a whole through performance incentives and awards.
 
 
Best Methods for Steering & Managing Virtual Teams 
 
It can be difficult for team members to participate remotely in a meeting. You can make things more convenient by taking the following steps:
 
Design a detailed plan and send it to every participant at least one day before the meeting, so everyone knows about the agenda of the meeting and they come prepared.
 
Make a list of participants at the beginning of the meeting, so every participant is there.
 
Address participants by name while interacting verbally with attendees, and give opportunities to all participants to contribute.
   
 
Focus on tasks in order to keep the participants engaged and to keep them away from multitasking.
 
Give short recaps while moving through the agenda, stating again more clearly what the combined input is before moving on to the next thing.
 
Try to get feedback and give by means of all communication mediums.
 
Produce action items in the recap of a meeting to all attendees after the meeting to repeat what was came to a conclusion and what the next course of action is.
 
Above all, keep communication channels open to make sure all team members are on the same page, lined up, and work in cooperation to attain your shared goal.
 
 
Conduct More Meaningful Virtual Meetings
 
What is the reason that some virtual meetings seem like a wastage of time, while others seem necessary and fruitful? The difference is being cognizant of ensuring that the meeting is a productive utilization of everyone’s time. The below-mentioned qualities distinguish the most productive meetings from the rest:
 
1- Every Participant is Conscious of the Fact That the Meeting is Crucial to Address the Agenda
 
Not everything requires a meeting; sending an email could be enough. Pretending to require people’s input does not need a meeting; just issue a statement about the decision already been made. Everyone is clear about it that we all recognize the results of past meetings.
 
But some matters need your team’s interaction and collective thinking. On many issues, we do not have solutions to so far. If you need creative solutions to these issues, conduct a meeting and solve the issue.
 
2- Every Stakeholder is completely present
 
You might be a part of meetings where others are busy on their mobile phones or doing other tasks, looking at the meetings from time to time, or where some participants only give attention to just listening when the team leader talks.
 
You can’t achieve the results by being scolded by the boss. The achievement of the target is possible with a meeting agenda that emphasizes the discussion on decisions that make a difference.
 
3- Achieve an Agreement on what will have to accomplish and the kind of discussions used to acquire the Results  
 
This includes the decision about deliverables- sharing of information, management of traffic, making decisions, the kind of discussions and problems that we need to find and conclude.
   
 
An agenda should incorporate what is required for each item, and it should be delivered on time so decisions can be made on time. Your team members should not know about something for the first time at the meeting.
 
 
 
 
 
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