Thursday, March 31, 2011

My current venture - BrandAndMe.com

Brandandme.com is a brand engagement platform which provides brands an incomparable engagement with users. A type of engagement with which, neither the traditional media nor the online media can match up. On the other hand, the platform rewards users handsomely for engaging with the brands.

The USP of our concept is 'one brand per day' - Engagement exemplified. Brandandme.com website would be available only 12 hours a day. Every day a new brand would promote itself and the participants would answer questions based on the information the brand provides. Brand would then reward one user every day with a tangible gift worth minimum Rs 1500. Remaining users would accrue points at every stage of engagement with the brand which they can redeem against many e-commerce platforms.

Through this platform brands would get undivided user attention, a superlative engagement, an entire clutter free real estate for such an inexpensive price. We provide explicit CPC with a very high CTR, implicit CPM and permissive advertising. Over and above we provide CPE. This platform is gold for advertisers.

The evolution of online medium has transmogrified into various delivery modes. The industry started with CPM – Cost per mille. CPM is just like an inventory sell which provides absolutely no engagement. For CPM, click through rate is .1% which created problems such as banner blindness and intrusiveness. The industry realized that it has to give more value to the advertisers. Just eyeballs wouldn’t matter and hence the industry moved towards CPC – Cost per click. However, the problems still persisted. Bounce rate became too high and the average time spent on the website became lesser. As a consequence industry then moved on to CPL - Cost per Lead. Lead is defined differently in different context. For some it is as lowly as someone downloading the brochure, for some it is filling up form and for some it is online transaction.

Today the industry is moving toward actual engagement and advertisers are asking ad-networks and media buying agencies to come up with innovative platforms and various other engagement models. Our platform is a disruptive way of bringing users and brands together in the form a tight engagement unlike any of its predecessors - CPC, CPM or CPA. Digital engagement in India is provided through videos, quizzes, games- advergaming, social quizzing, Bollywood etc. As Jivox and Vdopia are already present in the Video segment we took up the rest of the engagement models.

Our pricing is also innovative and cost effective. We follow CPE – Cost per engagement. Currently engagement is defined by us as someone who logs on to brandandme.com, engages with the brand in the form of interactive quiz. We are in the process of building innovative games, social quizzing and Bollywood as other forms of engagement.

The users really like the concept of engaging with a brand. A month before the actual launch we have 5,000 users and more than 3000 facebook fans. We are adding close to 150 users per day. We expect to have at least 10,000 users when we launch brandandme.com on April 15th, and intend to clock 1 lac users in the next 3 months.

All the ad-networks, advertisers and media buying agencies we approached so far have loved this concept because they could appreciate our value proposition. Recently, we have had an exclusive tie-up with Networkplay.com which would act as our sales arm. We chose Networkplay.com as our sales partner because our goals gelled well with their vision.

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