WhatsApp was founded in 2009 by Brian Acton and Jan Koum. Facebook paid $19 billion for WhatsApp on February 19, 2014.
It is the most popular app on the planet, with over 5 billion downloads on Google Play and is used by over a 2.5billion people in 180 countries.WhatsApp is a free multi-platform messaging programme that allows users to make video and phone.
Conversations, send text messages, share their location, and more all over the world using only a Wi-Fi connection.
This app's attractiveness originates in part from the fact that it works on a variety of phone and computer operating systems, allowing you to resume your chat whenever and anywhere you want.
It can also make one-on-one or group calls using Wi-Fi and cellular data, avoiding the need for pricey calling charges.
In this article, we will look How WhatsApp Earn Money In India at WhatsApp's origin, business model, revenue generation and the advantages and drawbacks of WhatsApp.
WhatsApp business model
The WhatsApp Business App allows enterprises to service clients on WhatsApp by creating product catalogues and providing customer care.
While the WhatsApp Business App is free to use, the WhatsApp for Business API allows WhatsApp to monetize the service.
WhatsApp's business strategy can be thought of as a multifunctional platform that links users who wish to send free and secure messages to one another, regardless of their phone's operating system.
WhatsApp has recently expanded its customer base to include businesses. The WhatsApp Business application assists employees and entrepreneurs in promoting their businesses through adverts.
WhatsApp has provided a lot of value to its consumers. Accessibility, affordability, simplicity, low-risk factor, and brand awareness are all part of the brand's fundamental value proposition.
However, it was the abundance of options, such as sending audio and video messages to friends without having to bother about signing in and out, that pulled the customer in.
The best aspect was that sending messages was completely free; all you needed was a data pack to entice customers to the site. The majority of WhatsApp's users are smartphone users. Everyone from teenagers to adults to the elderly uses it.
Users who want to engage with one another for personal or business purposes are the target audience for the app. The software is also used by business owners to engage with their customers and hold promotional events.
How WhatsApp Earn Money In India
WhatsApp presently earns money largely through two channels:
WhatsApp for Business and WhatsApp Pay.
WhatsApp business- Many small company owners use WhatsApp to maintain customer relationships, handle orders, and respond to customer care issues.
WhatsApp Business allows you to create your business brand on the network and communicate with your customers.
The WhatsApp for Business API is used to commercialise the service.
WhatsApp generates revenue by charging enterprises for slow response time. Businesses can respond to user messages for free for up to 24 hours, but they will be charged a price per message for late responses, which varies by country.
The late response price on WhatsApp not only encourages businesses to prioritise providing help on the platform but also ensures that customers prefer to communicate with businesses via WhatsApp since they can expect speedy responses.
The company restricts the ability to send messages in order to prevent ad spam. Businesses can only send messages to those who have contacted them first, but the API allows them to send shipping confirmations, appointment reminders, or event tickets to their consumers automatically.
WhatsApp pay- WhatsApp has implemented a new function called WhatsApp Pay that is currently only available in India. You can use this service to send money to anyone on your contact list.
In India, all you need is a bank account and a working debit card. Facebook deducts a commission from each transaction that you make.
WhatsApp Pay users could send money by entering their UPI ID. WhatsApp users can also send money to those who are not on their contact list by scanning a QR code.
Reviews
Following are some reviews provided by the WhatsApp business users-
Ronald Justin Sekalala
CS Technical Administrator
Score 9 out of 10
We integrated with our WhatsApp Business helpline so customers can send us queries and respond instantly. This has improved customer service/experience.
We customized the application with a greeting message which is sent to customers when they first contact us so even if there's no one to respond immediately the customers get a feel of engagement already.
Md. Masudul Hassan
Assistant Professor and Coordinator
Score 10 out of 10
We use WhatsApp Business for our employee communication and marketing purposes as well.
WhatsApp is one of the best secured end-to-end encryption platforms for communication, both audio and video calls, and also for sharing media files like photos, images, videos, etc. without changing its resolution.
Pros-
End-to-end encryption on WhatsApp ensures that any communication that takes place on the app is secure.
It allows for further personalization.
You can use WhatsApp Business to build long-term one-on-one relationships with your clients. It's an excellent tool for small businesses that want to go online and service their clients through the popular platform.
Cons-
CRM is used by practically every firm to maintain track of their business. Because the WhatsApp business app does not have an interface in this area, customer communication is totally segregated on the smartphone.
WhatsApp Business only allows for a restricted number of conversations. Scaling or expanding communication is not an option. One business account can only be accessed on one device at a time.
How much money does WhatsApp make?
WhatsApp created two revenue streams: WhatsApp for Business and WhatsApp Pay. Companies such as Netflix and Uber have begun testing WhatsApp for Business and are setting the standard.
For the first time in 2019, the instant messaging app declared a revenue of Rs 6.84 crore. For the current fiscal year, the Facebook-owned company posted a profit of Rs 57.18 lakh.
WhatsApp reported Rs 6.84 crore in revenue from IT-enabled business processes and outsourcing services in the same period, according to a ROC filing.
WhatsApp generates revenue using its new WhatsApp for Business API service. It charges a fee to businesses for using its services. The following are the charges:
The first 250,000 messages are $0.0085 each.
The next 750,000 messages will cost $0.0083 each.
The next 2 million texts will cost $0.0080 each.
The next 3 million mails will cost $0.0073 for each message.
As the volume of messages in millions grows, the cost will decrease.
Conclusion
WhatsApp is a messaging and payment platform in one. WhatsApp is a social media platform that connects billions of people every day and is now providing businesses with limitless opportunities to contact and engage with their large audience.
It's cashless, hassle-free, secure, and simple to use. Moreover, it does not necessitate entering a bank account number and IFSC code every time you wish to send money to someone.
Currently, their primary focus is on their business app, which is a paid WhatsApp service oriented toward enterprises. It is also the company's primary source of revenue.
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Frequently Asked Questions (FAQs)
Q1. How does WhatsApp earn money from India?
WhatsApp now makes money largely through two channels: WhatsApp for Business and WhatsApp Pay. WhatsApp generates revenue by charging medium and large businesses for access to its Business API.
Indirect revenue is also generated by 'Click to WhatsApp advertising,' which diverts consumers from Facebook to WhatsApp.
Q2. How does WhatsApp earn money from WhatsApp?
Businesses can respond to user messages for free only within 24 hours after receiving them. After that, depending on the location, any further responses will incur a cost.
It provided WhatsApp with a revenue source and increased user leverage as a result of the motivation for businesses to respond quickly.