Factors on Which Success of Unicorns Depend
1. Use of Social Media : Social media plays a great role in the unicorn companies. Social media has helped unicorn companies to make the audience aware of the brand. In such a process, it becomes convenient for the unicorn companies to recognise and target the right segment of consumers in the market as well as reduce the advertisement cost by making use of online platforms for advertisement.
2. Customer Satisfaction: Consumers are the main keys to the success of the unicorn companies. Therefore, they cater to the needs and demands of their customers. The unicorn companies pay special attention to the user experience.
3. Business Growth: Unicorn companies adopt strategies that allow expansion of business globally in a short period. Such objectives are possible only when the business follows a well-planned approach.
4. Diverse Human Resources: Unicorn Company employs young professionals who are talented and experts in whatever they do. The business consists of human resources from different domains which creates a diversity in the ideas and functions.
5. Uncertainties: A business may either earn profits or incur losses. The changing business environments are such that it creates uncertainties for the organisations. Therefore, unicorns are ready to face whatever comes on their way.