This Mumbai startup helps brands achieve high ROI using data and technology
The digital disconnect between brands and customers, and the lack of ROI-centred digital campaigns are some of the major challenges faced by the digital marketing industry to better understand consumer behaviour.
Solving this problem is Mumbai-based Logicloop, which is leveraging technology to help brands maximise business potential by using digital solutions that combine creativity, deep analytics, and data-driven strategies.
The startup has developed a state-of-the-art marketing automation technology — TRIPLEAD, which is capable of tracking customer journeys on digital platforms, right from the first touchpoint to conversion.
Founders (L-R): Nirav Gosalia, Mayank Vora and Harish Patel
The digital solutions startup also offers engagement measurement tools like session recording, heat maps, etc., and advanced analytics to give deeper insights into digital campaigns.
Also, the startup’s drip marketing tool assists brands in remarketing to users by dividing them into different segments based on their behaviour.
The startup, founded in 2017, has three divisions — Logicloop Tech, Logicloop Digital, and Realatte Ventures LLP.
Logicloop Tech — the startup’s technology division — specialises in diverse technology stacks, including IT services, staff augmentation, and product development from visualisation to delivery using CTO services.
Its Logicloop Digital division provides end-to-end digital marketing solutions, including SEO, social media marketing, paid media management, conversion rate optimisation, and digital branding.
The startup’s Realatte Ventures LLP is a real estate-focused digital marketing agency run by two additional co-founders.
With clients across industry verticals, Logicloop helps Indian and global brands to scale exponentially. Its core capabilities include full-scale digital marketing, technology, and engineering services.
“The team has managed large budgets for some of the biggest brands in India yearly across digital platforms. Moreover, we are a Google Premier Partner company with strong technical know-how and capabilities to automate, measure, optimise campaigns/user journeys successfully,” says Co-founder Harish Patel.
Computer science graduates Mayank Vora, Harish Patel, and Nirav Gosalia started their entrepreneurial journey in 2007 from a small study room at home, where they used to gather post working hours.
They co-founded their first startup, Realty Redefined, and partnered with over 100 developers, including the likes of Rustomjee, Kanakia Spaces, Tata Realty, JLL, and Puravankara, among others.
After scaling operations to eight Indian cities and building a team of 250 employees, the co-founders hived off the business to Quikr.com.
“Our entrepreneurial journey in the past paved the way for us to break into this (digital solutions) competitive market. We have consistently used the language of ROI and advanced tools, which made it relatively easy for us. Additionally, founder involvement is essential in this industry to deliver quality results,” Co-founder Nirav says.
With over 15 years of experience in the software industry and digital marketing sector, Mayank focuses on scaling Logicloop. While Harish leads the engineering and product teams, Nirav oversees all aspects of digital marketing activities, and facilitates ROI and brand growth at Logicloop.
At present, the startup has a team size of 150 employees. It aims to have about 200 employees by the end of 2021.
The way ahead
India’s digital marketing landscape is growing exponentially, with internet users estimated to grow to 660 million by 2023.
According to recent reports, digital media ad spends have increased from 20 percent in 2019 to 28 percent in 2020. As the COVID-19 pandemic accelerated digitisation among Tier II and III companies and B2B industries, this number is expected to reach 34 percent in 2022.
At present, Logicloop is offering its services in cities, including Mumbai, Pune, Delhi, and Bengaluru.
The startup works with around 60 domestic and international brands, including Saregama India, Aditya Birla Insurance Brokers, Mswipe Technologies, HDFC Life, Kotak Securities, Dr Batra’s Positive Health Clinic, Yardi Systems, etc.
“We intend to add more in the upcoming quarters. We are planning to build a specialised business unit for the education vertical. It will combine our expertise in lead generation and technology to provide all-round solutions from LMS, CRM to digital marketing for the education space. We are also working on an innovative print-on-demand ecommerce portal, which will be launched by October-November this year,” Mayank says.
Bootstrapped with Rs 75 lakh, Logicloop’s monetisation model includes monthly retainer fees, a management fee model on media spend, and contracts starting from Rs 1.5 lakh a month.
The startup claims to have clocked $3.5 million in revenue in FY 20-21 from all its business units. It is bootstrapped so far and not planning for funding right now.
“We are on track to grow by 30 percent this year,” Harish says.
While Logicloop Digital competes with Logicserve Digital, Iprospect, Performics, AdGlobal360, etc., Logicloop Tech competes with the likes of Nelito Systems, Collabera Technologies, Sparx IT Solutions, Mind IT System, and ValueCoders, among others.