- Digital Consumption has increased by over 30%
- Share of online retail sales increased by over 200% last year
- Additional $900 billion was spent at online retailers over the past twelve months
- E-commerce advertising is growing 30 times more quickly than general online ads
Q3 2021 hedge fund letters, conferences and more
The No Code Market refers to the industry that provides services allowing users without any technical skills to construct websites without any knowledge of coding at all. This industry has been experiencing tremendous growth in response to the huge increase in digital consumption; its ability to provide users with advanced functionality on their website without any programming knowledge democratises the market and removes skill barriers to entry.
As the No Code industry’s notoriety develops it is important for users of these products to be aware of which is optimal for them. This editorial will thus provide an analysis of various solutions to respond to the increase in digital consumption. No discussion of this topic would be veritable without an included evaluation of the various engagement boosting products.
Pandemic-Induced Online Habits
Furthermore, a PwC report revealed that not only will this shift to digital channels remain after the pandemic, but customer loyalty has all but disappeared - buyers now switch as they please between different brands at a much faster rate than ever before. These habits are expected to stick after quarantine is lifted as many US consumers have reported such an intent to continue to shop online even after the pandemic.
Growth Of No Code Approach
No Code website builders have since exploded in value. The market size is forecast to reach a peak of $2853.3 million by 2027, up from $1812.2 million in 2020 at a rate of growth equivalent to 6.7% from 2021 onwards. The reason for this is because the new online spending habits of consumers have now rendered a business’s online presence pivotal to their success.
This has led to the growth of several key players; the top three of whom occupy about 50% of the shares in the global market. Major giants in the industry of creating websites without coding include Wix, Webflow and Weebly; they have been allowed to grow by the shift in consumer habits towards an online medium. The remarkable comeback of Webflow as discussed in Forbes, shows how it’s founders Sergie Magdalin, CEO Vlad Magdalin and Bryant Chou had managed to launch a no coding solution at the right time where investors acknowledged the importance of this phenomenon.
Importance Of Customer Engagement
The growth in the number of website-building companies is important to note because where there’s supply, demand must follow. Moreover, an increased supply of these website-building services must be in response to an increased demand by companies to build their own website using such services.
As a consequence of this, an ever-increasing number of companies are competing for the budgets of customers through a proxy fight for their attention. Given that attention spans are becoming shorter on average in addition to this, businesses must maintain customer satisfaction and ensure they feel valued in order to be successful; this is customer engagement. This exercise is paramount in the fight for the attention of users.
One form of this idea is product engagement - the practice of tracking how interactive users are with a company’s product through the creation of an ‘engagement score’; this includes specific activities of engagement that are tracked over time. Managers can then use this information to develop ways to boost engagement with their product; thus generating profit.
Growth of Online Engagement Solutions
Many companies have arisen that specialise in specifically producing solutions for generating more engagement for others. Businesses setting up their website to respond to the digital consumer explosion should consider these solutions carefully, as they offer an effective way to win the fight against their competitors for the attention of consumers.
One such solution is Storycards, an Israeli startup founded by Gil Rabbi. As an enabler of freedom design, Storycards gives users the ability to create any concept and freedom design as they desire. This company looks to generate engagement with its plethora of products, including quizzes, trivia and eye-catchers. With this technology, website publishers and app owners have the ability to build professional engagement products that are tailored to each individual. Clearly this company moved way beyond typical static engagement such as Youtube and Slideshare to facilitate one of the most interactive experiences on the web at scale.
Users can customise their engagement products with the world’s first completely visual canvas; meaning no knowledge of the code is required of the customers to adapt it optimally for their business. Rabbi states his “disappointment with the existing products in the market led [him] to start developing [this] internal platform for creating engagement products”.
Zendesk is another engagement solution. This tool allows businesses to provide enhanced support to their customers, regardless of their scale. Support tickets can be easily resolved as they are amalgamated from all sources (i.e. SMS, social media, email, phone and web) and organised in one place. The program then uses AI and automation to route tickets to the correct agent with workflows.
LiveChat is another customer service platform that aims to fuel a company’s sales by improving the satisfaction of customers. According to the company’s Co-Founder Syed Balkhi, “a person who chats with us is 11x more likely to convert than an average website visitor”. This service aims to increase engagement with support provided by AI, and does so in particular with three key features: interactive messages, messaging mode, and eye-catchers.
Mailchimp is a professional automated email builder that allows for the creation of beautiful, branded emails. Pre-designed templates can be selected in the purely visual builder in order to create engaging and pertinent emails simply. With their automated emails, Mailchimp emails witness a 93% increase in opening rate, and an 174% in click rates.
Concluding Statement
On balance, in response to the global boom of digital consumerism instigated by COVID-19 the No Code market is heating up as companies seek services that allow them to capitalise on this trend as economically and efficiently as possible. Moreover, No Code website builders remove the need entirely for a professional team to be hired for the creation of a business’s website, whilst No Code engagement services ensure interaction with that site.
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