Helping big brands measure and improve social ROI, Zozolo gains momentum
Social media has taken the internet by storm and the landscape has undergone a huge change in the last five years. The biggest of the brands have a social media strategy and take social very seriously. New channels of collecting feedback and connecting with the audiences have opened up. This has also given rise to a bunch of startups coming up in the space of social media analytics. Gozoop is a digital marketing company that recently acquired Red Digital and is now a team of more than 100 people. Focusing more and more on their product Zozolo, the company has been gaining ground.
Zozolo is a product that helps brands measure and improve social ROI (return on investment). “Zozolo enables brands to turn their social media fans/followers into customers. It provides a detailed engagement summary of the fans on various social platforms, in the form of likes, shares, comments, tweets, etc. Brands can then convert these fans to customers through these metrics for various reward programs and loyalty solution activities,” says Ahmed Naqvi, one of the Co-founders.
Gozoop was founded by Rohan Bhansali and Dushyant Bhatia along with Ahmed. Zozolo as a product has been around for more than a year and has been built to answer a grappling question often asked by big brands - ‘I have acquired a lot of fans and followers, now what?’ The Zozolo analytics system tracks social actions like – comments, likes, game plays, tweets, etc. These actions then get converted to points based on a customizable ‘loyalty points’ system, that varies according to each brand’s objectives.
Dell is one of their biggest clients and the results have been good. “We've seen a huge jump in conversions by gamifying the process of engagement on social media,” says Ahmed and shares some numbers with the success they've had with DELL - 400% increase in engagement. In total, Gozoop has more than 100 clients across India, Dubai and Singapore. Zozolo Social ROI has 12 paying customers all of whom together have more than 25 million fans.
The aim for Zozolo is to target the bigger brands and help them solve the dilemma of what to do with all the acquired fans. The pricing is not standardized yet, as a brand can choose the extent to which it wants to use the product. Zozolo supports Facebook, Twitter and Instagram at the moment. Talking about the space, Ahmed says, “Social media, by its nature, is a branding platform and all results are not tangible. However, all branding should lead to sales, in the long run. And this is where Zozolo steps in.” Gozoop has a presence in various areas of digital marketing but their focus is shifting more and more towards Zozolo. The acquisition of Red Digital has also gone off well and Ahmed hinted towards more acquisitions in the space.
Apart from this, the social space saw acquisition activity with DDB Mudra acquiring Bangalore-based 22Feet, Odigma getting acquired by Infibeam and Social Wavelength by JWT.