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What is the secret of a successful startup? You can find tons of articles about this. Entrepreneurial qualities, determination, skills, team, environment, methodology, maybe the idea are all important things, but the most critical factor for sure is the Market.
Without a Market (someone who is willing to pay for your product or service), even the most talented entrepreneur will not achieve success. In other words, Yes, you must find a solution to a problem that you can monetize.
One of the most interesting markets for tech startups is the b2b market. There are many problems in every company that can be solved with innovative services, and many industries have different vertical problems. So there is great potential for creating a successful start-ups for determined entrepreneurs in b2b markets.
In b2b markets, there are big opportunities for large, medium, and small companies too… it’s the perfect environment to start a business even without a lot of money. There are some critical factors in b2b markets, which will be discussed in a specific post, “The Way to Reach the Market.”
One example is Woobox, a b2b company operating in the social marketing industry, that reaches more than two million unique visitors per month, with no more than 10 employees.
Woobox started in 2010 and today involvs 2.8 million estimated unique visitors seeking their services. What do they do? Woobox offers tools to easily create contests, sweepstakes, coupons, and much more, in order to attract fans on Facebook and amplify their marketing effects. They offer some free apps, but some of the most interesting apps require a monthly subscription. The apps are well done, and anyone in the marketing would love these applications.
For example, the app to manage coupons on Facebook has all the features you could desire! It’s well done, has s many options available, such as the possibility to make the coupons unique, time limited, with the ability to send with an sms, sharing obligatory option, limited coupon redemption numbers, and so on. Good work guys!
How could they reach 2.8 million unique visitors, such a huge number for a b2b company? Really the estimated number of visitors is the number of unique visitors using their tools, , as the tracking system is based on the website URL. This is the reason for such high numbers, but in any case they found a market for which they offered a great service.