FATbit Technologies is a web design company based in India.
I interviewed Manish Bhalla, FATbit founder to find out more. This is the two hundred and twenty first in a series of DW startup interviews. Big thank you to Manish!
How would you describe FATbit in under 50 words?
“We serve with smile at affordable prices”. We specialize in designing and developing highly convertible and user engaging websites.
What gap in the market did you discover that persuaded you to launch FATbit 2002?
Internet was at its infancy and recovering from burst of dotcom-bubble. WWW world was being re-constructed after unrealistic expectations of investors almost killed market confidence. There was a huge gap of skilled professionals to provide quality services and our plan was to fill the void.
How long did it take to get your first 5 clients?
What was the most challenging part of setting up a web services company in the early 2000s?
Ignorance of target audience. Before the IT revolution, people were mostly dealing in commodities that could be touched, tried and felt. Web solutions, being a virtual product, defied this logic. FATbit offers custom web solutions and there is no way to judge cost without hiring a professional to do requirements analysis, cost and time estimation.
Who do you see as your target market? How are you reaching them?
WWW industry is perhaps the biggest industry with over 200+ Billion USDs being spent every year globally. Sadly, no web solutions company has yet managed to get even 1% of this market. Our target market is primarily those seeking ecommerce solutions and business applications.
We get 80% of our business from repeat clients and referrals. To acquire new clients, we invest in AdWords, SEO, SMM and Content Marketing (Mostly Inbound Marketing).
How do you protect your company from the problem of Brain Drain?
Brain drain is a chronic issue in the IT industry. Young professionals want to climb the hierarchy ladder quickly and if you fail to address their needs, they switch. We manage the problem of brain drain by giving equal opportunities of growth to every employee and paying attention to aspirations. We preserve our best talent by opting for a combination of monetary and non-monetary benefits. Our HR team is also doing great work in this regard by regularly gathering feedback from team and making FATbit one of the best Indian web services firms to work for.
How do you differentiate yourselves from your competitors?
Client acquisition cost is very high in our industry. From the very beginning, we were clear that we have to deliver quality services at affordable pricing to survive and grow in this industry. To achieve QUALITY, we have stringent quality control processes in place. We follow SDLC process and use a project management system for daily reporting. Clients can login to the in-house developed PMS system to stay informed about project progress. Clients can actually see how their work is being done, who all are involved in the project, and even communicate with team members. Every minute spent on the project is logged and reported into the PMS system and is visible to clients. And to sweeten the deal further, we provide FREE technical support for 12 months after project completion.
Where do you see FATbit in 5 years time?
We are targeting annual turnover of 5 Million USDs by the end of 2018 and annual growth of 40%-50%. We are trying hard to earn honest appreciation from our customers to be counted amongst the most reliable web solutions provider at global level.
What kind of online businesses are going to be more successful in next 5 years?
- Online communication/collaboration/documents storage and sharing
- eLearning websites
What is the biggest hurdle you have faced or are still facing?
“People buy from you when they trust you”. Our majority of clients are based in Europe and USA. Their first choice is local web solutions provider for obvious reasons. However, our large variety of successfully completed projects, big percentage of repeat clients and industry experience works in our favor. Add cost factor to this and we become the logical choice for entrepreneurs as well as web solutions companies in different countries. That said, the challenge is still alive and breathing.
To mitigate this challenge, we are planning to establish offices in USA and Mauritius. We are also associating with large web solutions providers based in countries like Brazil, Mexico, Spain, Nigeria, South Africa, Middle East and Australia. So, the biggest hurdle may not remain that big in a couple of years.
What advice would you offer to anyone looking to enter the web services arena?
The competition is brutal in the web services industry. You have to differentiate yourself and build the USP quickly because WWW world is changing every second.
What are you most excited about at the moment?
In past 2 years, we did 100s of experiments related to User Experience on our website. We have got really astonishing results; our website’s bounce rate has hit rock-bottom, we get quality leads and many partnership offers every day. We are excited to deliver User Experience Optimization services to our customers and thousands of online entrepreneurs out there.
Can you convince the reader to consider using FATbit for their next project in under 50 words?
“We serve with smile at affordable prices.” If you want the CHEAPEST, hire a freelancer. If you want the BEST –FATbit is among the best options available. Send us your business plans and project specifications –our team will use their experience & expertise to deliver professional solution.
Finished reading? Check out FATbit Technologies!