While working for his maiden startup – Valencee Digital Solutions – Ravi K realized that most of the digital marketing firms service without solving client’s business problems. “We came up with the initial idea of NumbersFirst after talking to friends and others who are part of marketing teams or business owners and wanted to get maximum returns out of their small marketing and sales budgets,” says Ravi.
NumbersFirst was formed with a goal to understand, analyze and consult client’s business in the right direction. Importantly, it maps out digital marketing activities to their business goals.
Ravi comes with over seven years of digital marketing experience of his decade-long corporate stint. Prior to NumbersFirst, he was the Co-founder at Valencee Digital Solutions and also worked as Senior Manager at Edurite Technologies which is part of the Pearson Group and played an instrumental role in setting up Edurite online business.
The startup recommends and does activities which have clear ROI and generate maximum returns for client’s limited marketing budgets. “There is a lot of analytics which goes into the process to refine and optimize campaigns,” adds Ravi.
Unlike other digital marketing firms, NumbersFirst initiates a proof of concept for every customer to identify the potential and cost of generating each lead or sale. “We invest client’s money in Google Adwords, Facebook and email campaigns to assess and derive maximum ROI at lowest cost,” adds Ravi.
“Businesses we speak to are appreciating our performance driven digital marketing model, as all our efforts are directly related to their business goals (qualified leads or sales). The startup claims to acquire one customer out of every three customers it speaks to.
“Our cost to the client is based on a small fixed fee and a variable pay. We experience difficulty in realizing variable pay as there are delays from the client’s side,” points out Ravi.
At present, NumberFirst is working on scaling its business without affecting performance of deliverables to its clientele base. We don’t compromise on quality of service to clients at the cost of scaling our own business. The startup currently has 16 clients and plans to have 100 clients in the next six months.
A quick look at market size of Indian digital marketing ecosystem
The online advertising market in India is projected to reach Rs 2,938 crore by July 2014, according to the findings of Digital Advertising in India report conducted by Internet and Mobile Association of India (IAMAI) and IMRB International.
The online advertising market in India, comprising search, display, mobile, social media, email and video advertising, which was valued at Rs 1,750 crore in March 2012, has grown by 29% over the previous year to reach Rs 2,260 crore by March 2013.
Rise of performance based marketing
Over the past few years, performance based marketing has been catching up in India as businesses look for ROI towards their marketing gimmicks and campaigns. Startups like Pinstorm, Performics and Iquanti have been evangelizing the performance driven digital marketing in India.