A brief introduction
Best video conferencing app: Zoom was a term often associated with either extreme speeds or the magnifying focus of a photography lens. Today, in addition to those associations, the term also shares a synonym with video conferencing.
Zoom is a new business that has taken over the world of video conferencing by storm. It was launched in 2012, much later than Skype, Google hangouts, and Cisco WebEx, which are considered the usual suspects. However, the COVID-19 pandemic contributed to the enormous growth of this video conferencing app, displacing all the above-said brands to gain the supreme position in terms of market share and acceptance.
The COVID-19 game change
We have already seen how the COVID-19 pandemic iterated the relevance of a video conferencing app, not only for official use when all staff are working from home but also for personal use when you cannot meet people in person but can only connect with them over virtual platforms.
Zoom became an example of showcasing the relevance of video conferencing apps during the times of the pandemic. The quarterly revenue growth of Zoom was hovering around the 30% mark in Q1 2018. However, it skyrocketed to about 120% in Q3 2020, and is all set to reach 140% by the end of 2020. It is interesting to note that Zoom has a higher valuation than Uber and Lyft combined. The number of app downloads is at a staggering 73 million which has increased by about 700% during the pandemic.
What made Zoom special… The open opportunity
What makes the case of Zoom interesting is that it was able to beat its well-established competitors. It is a perfect example of how including the right features at the right time is of vital importance. Anything said it has to be agreed that the market for video conferencing apps is still wide and open, and there is enough room to accommodate new players in spite of the stiff competition. In addition, there are also specific niches where video conferencing apps can help when garnished with the right features.
It is to be remembered that while there were flickers of working from home before the pandemic, it will not be surprising to see offices operate entirely with a remote workforce in the new normal. The demand for video conferencing apps does not seem to fade away in the near future. The global video conferencing market is valued at about $3.85 billion, and the statistic does not take into account the spike that would be caused by the pandemic.
This presents a lucrative opportunity for aspiring entrepreneurs to create a video conferencing app like Zoom.
The avenues for the revenue
When we talk about a lucrative opportunity, it has to be justified in terms of the possibilities of profit. There are different channels using which an app like Zoom makes its revenue.
In most cases, the usual method to make money is to push a lot of advertisements in the free version. Zoom, however, avoided pushing off any ads even in the free version. The app is free to use for 40 minutes and for up to a hundred participants, and either one of them exceeding the limit would mean that they will need to go for a beta version.
In spite of the amazing features, the cost of using Zoom is not exorbitant at all. Even using this simple method, Zoom netted a revenue of $1.8 billion in 2019, and the figure is expected to massively increase for the year 2020.
While there may be a lot of new marketing methods involving the latest technology, Zoom relied on one of the oldest and always relevant marketing methods, the word of mouth. A lot of people who have been using apps like Skype and Cisco WebEx began to talk about the new video conferencing app that was simpler to use and had more features for a lower price. The news spread like wildfire, and people started to use a serious video conferencing app like Zoom even for convening simple family meetings.
This translated into slow growth in profit. Zoom was ready to wait and showed no needless heist in breaking even. They stuck with the initial plan they had, and everything turned positively topsy-turvy for them during the pandemic.
On the surface, Zoom seems like a simple app to use. One of the factors that contributed to its popularity was the user-friendliness and the slick interface.
Zoom, however, has a lot of aspects under the hood that needs to be addressed. The app that we see is a grand culmination of an interactive front-end, a robust backend, cloud, database, payment gateway, and video transcoding.
All this work translates into a colossal engagement demanding coding, design, security, and marketing. When the time taken to hit the market is crucial, all the time taken in coding can be eliminated by the use of a Zoom Clone script.
Even if you were to go for a Zoom Clone app, it is important for you to know the features that make the app feel complete and adequate.
- The user should be able to easily sign up for the app. They should, if need be, be able to use existing login credentials like that of Google or Facebook.
- The registration should automatically create a profile that shows a list of all the scheduled meetings and the history of meetings attended by the person. The app should flawlessly integrate with some of the most used digital calendars, like Google and Apple.
- The app should have a facility to invite friends to a meeting even if they are not signed up for the app.
- There might be instances where there is a need for text communication and file sharing. The app should have features not only to share files and chat but if need be, even share the screen.
- Video conferencing apps like Zoom have been extensively used for online classes. In line with these requirements, the app should have features like raising hands and asking questions in a separate interface.
- One of the most annoying aspects of a video call is the background noise that might affect the sanity of the entire meeting. The host of the meeting should have an option to mute the participants if needed.
- The app should be able to present a recorded version of the video conference, and it needs to be taken care of without demanding a lot of memory and processing power. This is the reason why a robust and efficient transcript module is needed.
- Although not essential, adding a few extra features like virtual backgrounds can help in making the interaction with your app more engaging.
- Needless to say, your app needs to be top notch in terms of security. As you may have known, one of the allegations that Zoom faced laws regarding its possible breaches in data, and it might be extremely detrimental for the brand. Therefore, your app should have all the security features intact.
- Needless to say, the app should be compatible with most major platforms on both mobile and desktop, including but not limited to iOS, Microsoft Windows, and
Android. If need be, you can even have a version that does not require any downloads and can be accessed over a browser.
- Since video conferencing apps have become an integral part of work, it is important to have data-driven reports. Your video conferencing app should have an option to view statistics like the number of people attended, the duration of the meeting, the time spent, and the average time of interaction.
More often than not, what distinguishes a great product from the crowd is the features that had never even been imagined before. Even you can spruce up your video conferencing app with a lot of features. However, it cannot be denied that the skeleton of the app will have to be an app like Zoom or Skype.
Going for a white label Zoom Clone gives you a lot of options to customize. With inherent advantages of white labeling like the absence of glitches that might interfere with the basic functionality and quicker launch at a lower price, you are all set to launch your video conferencing app.