Revolutionize Small Business Communication with Vodify AI

Table of Contents

1. Introduction
2. The Problem of Traditional Communication for Small Business Owners
3. The Importance of Digitization for Small Businesses
4. The Potential Market for Vodify AI
5. The Vodify AI Platform
6. The Development of Vodify AI
7. The Business Model of Vodify AI
8. Competitors in the Market
9. Funding for Vodify AI
10. Conclusion

The Future of Automated Conversations: Vodify AI

As small business owners, we all know the struggle of having to reply to a bunch of messages while also trying to make products and grow our businesses. Traditional communication methods can lead to the loss of customers, time, and money. That's why Vodify AI is here to revolutionize the way small business owners Interact with their customers.

The Problem of Traditional Communication for Small Business Owners

Small business owners face a lot of challenges on a daily basis, and one of the biggest is communication. Traditional communication methods like phone calls and emails can be time-consuming and inefficient. They can also lead to missed messages and lost customers. Small business owners need a better way to communicate with their customers that is fast, efficient, and effective.

The Importance of Digitization for Small Businesses

Small business owners are aware that if their business is not digitized, it is exposed to failure. In Bosnia and Herzegovina, where Vodify AI is Based, only 30% of small businesses use online tools. This means that 70% of non-digitized small businesses in Bosnia and Herzegovina are exposed to failure. The situation is not much better in other countries. In Austria, for example, only 85% of small businesses are customized to the digitized world.

The COVID-19 pandemic has accelerated the digitalization process by 15 years. This means that non-digitized small businesses are at an even greater risk of failure. Vodify AI is here to help small business owners digitize their businesses and stay competitive in the digital age.

The Potential Market for Vodify AI

Vodify AI's initial target market is 50,000 small business owners in Bosnia and Herzegovina. We Are aware that Bosnia and Herzegovina is still not a digitally literate country, and as a product of our country, we want to set standards for digital transformation. By doing research, we have also identified Austria as the next potential target market. By 2021, there will be around 5.8 million e-commerce users in Austria, and the most used payment method is card.

The Vodify AI Platform

Vodify AI is a no-code platform for building conversation apps between small businesses and customers. Using the Vodify AI platform, small business owners get automation of online conversations with their customers, better customer experience, stronger conversational relationships, accepting payments, and their business will grow faster.

To demonstrate how the process of digitization starts, let's meet Lila, a small business owner who successfully solved problems using the Vodify AI platform.

The Development of Vodify AI

To use the Vodify AI platform, Lila needs to Create an account as a Vodify AI user and enter her basic info. After that, she proceeds to create a flow for her chatbot. In the flow, she can add elements such as messages, questions, or trigger actions such as email and decimal sending. But most importantly, she can use the Stripe element, which will enable her to accept payments.

After all, Lila will use dashboards that give Insight into statistics like total orders, revenue, and profit. The Core features that Vodify AI provides are custom widgets, user-friendly interface, e-commerce orientation, and accepting payments.

The Business Model of Vodify AI

Vodify AI's business model is highly scalable and profitable with subscription-based pricing. Just in Bosnia and Herzegovina, the potential revenue is as high as $12 million per year for the total market, and $120,000 per year for just one percent of the market. With a thousand users, revenue for the first year can go up to $240,000, and by the fifth year, revenue can grow up to $2.6 million.

Competitors in the Market

Vodify AI has competitors in the market, but none of them are e-commerce oriented. Dashboard and e-commerce orientation are the features that Vodify AI plans on finding its product-market fit with.

Funding for Vodify AI

Vodify AI is currently in the MVP development phase, and we will need almost one year for MVP development and validation. We expect to be ready for final product development at the beginning of 2022. We developed a lot of functionalities, so this money will be spent on further development, marketing, and services such as hosting, issue tracking, analytics, and domain.

Conclusion

Vodify AI is a game-changer for small business owners who want to digitize their businesses and stay competitive in the digital age. With its e-commerce orientation, user-friendly interface, and accepting payments, Vodify AI is the perfect solution for small business owners who want to automate their online conversations with their customers and grow their businesses faster.