Latest Technology Insights
Stay abreast of what’s trending in the world of software development with our well-researched and curated technology blogs.
Disruptive and customized mobile solutions for all
Let’s build incredible apps together. Talk to an expert now.
Your one-stop web development agency
We cater to businesses of all sizes, types, and industries.
Advanced eCommerce solutions for enhanced shopping experience
Discuss with us for optimal and cost-effective solutions today.
Modern-age solutions for modern you
Expert CRM & ERP consultation is only a click away.
Migrate your offline business to cloud
Look no further; Closeloop houses certified cloud experts.
Empower your business with futuristic technology
Disruptive and customized mobile solutions for all
Modern-age solutions for modern you
Your one-stop web development agency
Migrate your offline business to cloud
Advanced eCommerce solutions for enhanced shopping experience
Empower your business with futuristic technology
Assim Gupta
CEOAssim Gupta is the CEO and Founder of Closeloop, a cutting-edge software development firm that brings bold ideas to life. Assim is a strategic thinker who always asks “WHY are we doing this?” before rolling up his sleeves and digging in. He is data-driven and highly analytical, yet his passion is working with teams to build unexpected, creative solutions that catapult companies forward.
MoviePass caused major shifts in the movie industry when they lowered their monthly unlimited movie pass from $30/month down to $9.95/month. With a standard movie ticket costing more than $10 in many areas, the biggest question on everybody’s mind was how can it be so cheap?
The first half of the answer to this question is related to the impact that pricing has on consumer behavior when it comes to subscription services. As consumers, it is our natural behavior to maximize the value of any subscription service. If a gym membership costs $300, we would try to go daily. If a gym membership costs $10, going once or twice a month would be satisfactory for the majority of people. This exact same behavior can be applied to MoviePass. MoviePass realized that at a price point of $50/month, their customers tended to watch movies 5-6 times a month. At a price point of $10/month, however, the vast majority of their customers would settle down to going to the movies around once a month. While there may be a few power users who manage to go weekly or even daily, the average of all MoviePass customers should center around one movie per month.
That said, even if the average MoviePass customer only goes once a month, MoviePass would still be operating at a loss. This leads us to the second half of the answer – data. Your data to be more exact. Along with all the basic demographics data that MoviePass collects such as age and gender is the very valuable real-time data from being able to track where users exactly are when they check-in for a movie and the viewing habits of its users. In fact, the big data company Helios and Matheson bought a controlling stake in MoviePass specifically for this reason. As a highly advanced data analysis company, Helios and Matheson would be able to exploit this treasure trove of data from MoviePass to the fullest. I would not be surprised if MoviePass begins advertising to users nearby restaurants after the movie or popular bars to walk to after the movie. The potential here is huge. Not only is the customer outside of the house, but you can track and predict exactly where they are before and after the movie.
The most important lesson to learn from MoviePass is to understand how to discover alternate forms of revenue and the true core of your business. To the majority of people, MoviePass is a movie ticket provider. In reality, however, MoviePass is still a software company at its core. The majority of their business is going to rely on their ability to optimize their app and tracking and advertising channels.
In fact, at Closeloop Technologies, we often discover potential new avenues of revenue for our clients as we build their software. Today’s world of constant connectivity means that revenue can come in many different forms.
Stay abreast of what’s trending in the world of software development with our well-researched and curated technology blogs.
Delivering a software project is a challenging task, and numerous organizations struggle to com…
Enter the world of cloud computing and you're faced with a difficult decision: which platform i…
Are you ready to revolutionize your client service and take your business to greater heights? O…
You've heard the saying, "The customer is always right." But what does that mean for businesses…
CRM (Customer Relationship Management) innovation is a vital aspect of modern business as it he…
Looking to estimate the cost and time needed to complete your next software project? You're in …
Closeloop Technologies believes creativity helps achieve maximum growth in digital transformati…
United States, Dec 12, 2022- Closeloop Technologies, a leading software development company, ha…
Netsuite is a globally recognized business operating platform out-turn the growing companies to…
You may have heard about the benefits of AI in eCommerce, but did you know that AI can also be …
It would be best if you study how to perform quality assurance (QA), regardless of whether you …
Software is running the world. While this claim has been made numerous times before, the import…
Have you ever considered hiring a UI/UX design agency? If not, this blog will tell you all the …
Today, businesses are continuously looking for new methods to remain competitive in the face of…
In this tech-savvy world where everyone is keen to know the latest trends in technology, it is …
In the year 2022, it will be almost impossible to successfully manage a business, either a smal…
Technological advancements significantly impact various business sectors, and financial technol…
Building a successful website from scratch requires a lot of labor and, at the very least, desi…
The perpetual switch from the following technologies makes the business environment much more c…
The Amazon Web Services Certification program helps professionals gain credibility and self-ass…
When it comes to finding love, you don't need to go any further than your cell phone. In today'…
You might think you have plenty of time to figure out the migration to NetSuite, but honestly, …
Music runs through the veins of most people, if not all. It is a significant part of our routin…
The world is progressing towards portable technologies, from mobile phones to remote work, to a…
Technology is a wave: either sail the boat or sink out. The enterprises focused on automating b…
The Internet of Things is another revolution in the technology world, leaving us wondering how …
With about 60% of the global population actively accessing the Internet, people need modern way…
Determining the successful user data interactions and conversations is significant in revamping…
Professor Rana Nayar, a Ph.D. in English, a translator of poetry and short fiction from Punjabi…
Enterprise Resource Planning (ERP) solutions are the lifeblood of a business organization. Nets…
Financial technologies are taking the business world by storm. The changing perception regardin…
In the healthcare sector, a cyclone of technology is impacting thousands of lives today. From A…
In the dynamic world of business applications, one fixed solution for the constantly changing e…
While mobile devices were increasing significantly, the demand for mobile app development servi…
Whether big or small, businesses from different industries and start-up founders are taking cha…
Cloud computing is one of the hottest technologies in this era of digital transformation that i…
We are living in a technology-driven world where almost everything is available at our fingerti…
Customers are the most important part or lifeblood of a business. The way you onboard customers…
To start an eCommerce business that becomes successful, the first step is to develop an enticin…
Fintech or financial technology has become one of the most popular ideas for startups today. In…
Recruiting software is a critical part of Human Resources Management (HRM). Basic functionality…
It can be very challenging and overwhelming to develop technology and software for a non-tech o…
As someone who attends dozens of startup pitches a month, “our product is cheaper” is a phrase …
PACEfunding’s Business Executive Is Shocked When The Vendor He Hired Fails To Deliver The Softw…
The Invisible Crushing Power of Software Why are companies afraid to partner with the vendors …
Painful Lawsuits: Huge Toll Taken on Executives at Uber, Equifax, St.Jude, and Provident Financ…
As my regular readers know, I frequently serve as a panelist in pitch events. Recently, I decid…
As my regular readers know, I frequently serve as a panelist in pitch events. Recently, I decid…
As my regular readers know, I frequently serve as a panelist in pitch events. Recently, I decid…
As my regular readers know, I frequently serve as a panelist in pitch events. Recently, I decid…
There is nothing more tragic than a company with a great product that is hampered by poor user …
One of the most misunderstood fears entrepreneurs and startups have is that investors won’t inv…
I love meeting people who launch startups. Their energy and ambition inspire me. One of my life…
We use cookies to enhance our website, analyze website usage, and capitalize on our marketing efforts. Also, cookies help us to offer you a personalized experience.“Read Privacy and Cookie Policies”
Please enter your email to receive our latest blog in your mailbox.