Why Is It Profitable to Develop IT Products in Ukraine?
While it might seem challenging at a glance for Ukrainian IT product firm to compete favorably in Western markets (EU, US, UK.) Factually, the Global Sourcing Association identified Ukraine as the best offshoring destination for the United Kingdom. Moreover, 18 Ukrainian technology firms made it to the annual list of the best suppliers of IT solutions in the world.
To heap more praise for Ukraine regarding tech ingenuity, it is one of the top achievers and performers according to the Global Innovation Index. Better yet, its ranking has been on the rise over the years. Also, the country enjoys a 38.52 Innovation Efficiency Ratio, topping the lower-middle-income category.
7 Tips for Competing in Western Markets
So, what makes various Ukrainian IT solution companies competitive in the EU and US? Let us share some useful tips on how a firm in the country can penetrate and thrive in the Western market.
Always Put Customers First
This trick is straight out of Readdle’s playbook. To succeed in the West, a Ukraine IT solution company needs to understand what its customers need. Efforts should be put in conducting many interviews to learn of the patterns and problems the target demographic is facing.
Grow with the Market
To stay in the game, tech companies in Ukraine need to keep tabs on market developments and recent updates to existing software. Then, all identified changes should be studied and given appropriate remedies.
The Solution in the Business Card
Many users contend that the applications offered are what IT (or tech) Product companies sell. For this reason, it is essential to develop excellent tech solutions always. The characteristics of a great IT app are:
- You can comprehend its purpose easily
- It solves a single issue
- Offers great user experience
- It has a beautiful design
- Can cater to a large demographic
- Improves the situation of the user
Make Users Understand Why They Need a Solution
A tech company needs to make a user understand why they are paying for an application, SaaS, or platform. This way, it will spur the adoption of the IT solution offered.
Measure All Aspects
Only by gauging performance, you can learn where you need to improve. As such, IT companies must implement an ongoing assessment of various metrics to analyze and identify areas that require improvement.
Be Ready to Modify Strategies
IT companies should always be ready to tweak their approaches or marketing strategies since the preferences of the target audience change from time to time.
Look for Customers and Build Communication
Top tech companies have an active and dedicated community of users behind them. As a tech company in Ukraine, it is essential to create a community around your users, as Apple did. To achieve this, firms can organize events in the West where they meet customers, collect feedback, and showcase new products or updates. Such meetings are great for sourcing for customers. Regarding building communication, it is important to explore various modes such as Reddit, YouTube, emails, and blogs as options for reaching out to users.
The Difference in Software Development in Ukraine and Western Markets
While there are several notable differences between developing IT products in Ukraine and the West, the development cost carries the day. Outsource app development cost in Ukraine is way lower than the rest of Europe and the US. Regardless, the quality is very high. Moreover, the average programmer in Ukraine has a $30 to $50 hourly rate, while one in the US has a $120 to $170 hourly rate. For this reason, it is more economical/ profitable to develop IT products in Ukraine compared to Western countries.
Examples of World-Renowned Products Launched in Ukraine
Below is a curated list of some of the innovations in Ukraine:
- Readdle: Develops apps for iPhone, iPad, and Mac. Examples include Spark, PDF Expert, Scanner Pro, Documents, Fluix, and Calendars 5.
- MacPaw: Provides applications that make the Mac experience better. Products include CleanMyMac X.
- Grammarly: It is a tool that offers automated proofreading of texts on emails, Facebook, Twitter, and so forth.
- Ring: It is an Amazon-owned company that specializes in home security and smart homes.
- Serpstat: Offers solutions such as rank tracking, keyword research, the audit of websites, backlink tracking, and keywords analysis to digital marketers.
Why Develop IT Products in Ukraine?
Software development Ukraine has witnessed rapid growth over the years, thanks to an array of benefits brands enjoy by outsourcing projects to companies in the country. One is a large talent pool of tech experts due to the rapid increase of IT professionals over the past few years. Two is comprehensive tech expertise, meaning brands can access unmatched solutions in Java, Python, Scala, Ruby, and other programming languages. Three is cultural closeness since the people of Ukraine share a lot of values and business ethics with those from the West. Finally, Ukraine is closer to Europe and has only a 7-hour difference with the US.