Question About CEO Interviews:
Give us a brief introduction to your company?
Headquartered in Bengaluru, nFaktor (nfaktor.com) was founded in the year 2015. We are a business advisory and consulting firm that work with organizations to help them create and elevate their market impact – for their products, solutions and services.
More details About nFaktor Solutions Pvt. Ltd.
What are the services you offer to your clients?
nFaktor works toward building an integrated journey for maximum impact. We focus mainly on evolving marketing channels to deliver smart content and perceptive brand messaging which has set us apart as one of the best marketing firms in Bengaluru.
We offer services in Business Advisory, Marketing Consulting, and Marketing Strategy; Go-to-Market Planning; Digital Marketing; and Sales Enablement Programs.
Our services include Marketing Strategy, Conceptualization, Design, and Content. It’s all tagged along with Consulting and Execution through Social Media Marketing, Brand Activation, Research & Analytics and Design.
In this intensely competitive era, what technologies, services and project model can give you an edge over your competitors?
Being a business advisory and marketing consultancy, it’s indeed in an intensely competitive era. Leveraging technologies and tools pertaining to social media outreach; effective e-mail marketing; programmatic advertising; video hosting; and link customizing are areas that can give us an edge over our competitors. By launching our service via MyLnk, we have effectively enabled a business to brand, customize and measure their business analytics. This service has certainly given us a jump start over our competitors.
How has being an entrepreneur affected your family & social life?
It’s often said, once you become an entrepreneur, it’s as good as being “married” to your business. Or it is even likened to a “parent-child” relationship! And this type of relationship can adversely affect an entrepreneur’s social and family life. However, being passionate of what I do, and with firm family support coupled with healthy living habits and a positive outlook; it hasn’t really affected my family or social life.
I still find the time to relax and pursue my hobbies or mingle with my friends and family. I was always a workaholic but every evening I dine with my kids, monitor their studies, spend time with my wife and don’t compromise family activities by working over weekends. Most of all, I am pretty happy and fulfilled in what I do – all this has really helped me in balancing my family and social life with my work.
Whom do you consider your idol or biggest motivator?
Frankly speaking, I do not specifically idolize anyone as such, there, in fact, could be many! I admire excellence in any field of work – that indeed motivates me. It could well even be a carpenter doing his work efficiently, or a lecturer explaining a subject to his students lucidly. The skill, dedication, singular focus, and commitment amazes me. They are my idols!
Share best 3 application which your company has created or used for business.
We currently have two web-based applications: MyLnk and MyLoc.
MyLnk is a platform that powers marketing and helps to leverage business activities – it is the perfect solution for businesses to reach the right audience with shortened, branded or customized website links.
MyLoc Location is a web-based app that helps to create a location or an address and convey it in a hassle-free manner.
After service is a necessary part of development. How do you provide customer support to your client?
Absolutely. As an advisory and marketing consultancy we work with companies to create and implement marketing strategies that are centered on the core of the business and what services and products they offer. We create detailed marketing plans, determine the marketing message, and identify the appropriate marketing mix to shout out the message.
However, once the implementation is done, we do not move away and vanish! It’s our responsibility to follow the plan through, and work to execute and implement the marketing strategy. We monitor the results, modify changes as necessary and ensure that the companies get the best results.
What are your hobbies? What do you do in your non-work time?
As a child, I was always fond of playing and watching different sports. But the hobbies that I have persisted all along, and been most passionate about are all to do with reading and writing. Surfing net to reading, in general, occupies most of my time. Apart from that, I am also passionate about writing. Writing blogs and articles for my website and also third-party websites keep me occupied.
Have you raised any funding? Or have any plans for the funding?
Having a robust product was the key to make nFaktor successful. The major chunk of our intial funds went into technology. We are currently on a low marketing budget, trying to organically reach out to users through events and barter promos.
Give your opinions on how far this app revolution can make a difference in the technology world?
The app revolution has shaped our lives in ways never imagined before. Smartphone apps have barged ahead taking many slices of our day-to-day lives. The app revolution has just begun and is set to make a big difference in the technology world.
MyLnk is an innovative link shortener and URL management platform that allows marketers to customize and personalize their web links along with tracking its clicks with an easy and simple interface.
MyLoc, which has brought in a distinctive difference in communicating, helps to create a location or address. It is an easy way to convey one’s address to friends, relatives, colleagues or even to the online shopping delivery personnel.
What latest technologies and tools you’re planning to implement for mobile app development?
Since nFaktor is into the role of a business advisory and marketing consultancy, we plan to leverage technologies and tools pertaining to Organic Social Media; Email Marketing; Display Retargeting; Programmatic Advertising; Website Testing; Video Hosting; and Content Creation.
The main problem for any business is related to its branding, visibility, analytics, and RoI. To solve the issue, we introduced a service via MyLnk. MyLnk is a platform that powers marketing and helps to leverage business activities – it is the perfect solution for businesses to reach the right audience with shortened, branded or customized website links. Plans are afoot to make this service a household name along with making it handier by launching its mobile version.
What’s your approach to creating interactive and addictive UX/UI of mobile apps and websites?
No matter how great an app or website idea is, the key to its successful design boils down to the user experience (UX) and the user interface (UI).
It is the design that defines the success of most software products. A great app needs to have stylish elements and usability. And the effectiveness of any app is usually measured by the optimum combination of functionality and attractiveness. That’s the approach we wish to implement in our apps to be launched shortly.
What are the challenges you see in the outsourcing industry?
Outsourcing has been the gold rush for the past many years. But there have been talks of uncertainty to have descended upon the Indian outsourcing industry in anticipation of the protectionist attitudes of the western countries.
Some of the challenges of the outsourcing industry emanate mostly from:
Locking clients into long-term deals: Many a time, outsourcers try to lock clients into long-term deals by signing contract terms and pricing that become obsolete in no time. Inevitably, it leads to client frustration and irritation viz-a-viz not meeting the delivery realities.
Under-quoting to get the business: Service providers may under-quote from their peers just to clinch a business deal. Going further into the contract demanding more money by citing change of circumstances could lead to irreparable damage.
Improper documentation: Critical solutions developed over the years that keep client operations run smoothly is not documented properly or not integrated into the technological framework. To discover after clients complain can lead to frustration on both sides.
Falling short of client expectations: Clients want a flexible outsourcing partner to introduce innovation into their processes, along with helping manage both costs and service. Falling short inflexible infrastructure, understanding the client’s business and innovation.
Mention the ways you use to introduce new updates to your team.
As any workforce demands, we place more value on company policies and culture which is displayed on a common notice board. We also ensure and try to keep our introductions as concise as possible.
Updating employees via e-mails is the most used communication mode. Apart from that, we have company and department-wise whatsapp groups for effective communication and posting updates. A picture is worth a thousand words. Keeping that in mind we also convey new updates via short video content during our gatherings or team meetings. That makes it more effective and interesting.
What’s your step to enter into wearable tech & IoT revolution?
We have probably dawned into the age of wearable technology. Earlier, using a computer meant sitting at a desk. But now, thanks to smartphones and other tiny portable computing products, one can do bits and bytes – anytime, anywhere! The day is not far when we step into an era where one may not even be needed to carry their gadgets.
While working with different organizations we realized the need to make marketing more impactful. We have introduced a service via MyLnk that enables links to be customized, branded and measurable. We are stepping up our efforts to make this marketing tool a household one. By introducing another service – MyLoc, each one on this planet will have their own location that will be easy to communicate in this digital era.
What are various technologies you used to make this app a reality?
We are leveraging the best out of our website, nfaktor.com – it’s as good as a desktop app, much fuller. A lot of thought and effort has been put in to make it more informative and interactive to any surfer visiting it.
As our business focuses mainly on evolving marketing channels to deliver smart content and perceptive brand messaging; the relevant technologies and tools that make our website more effective involves making most of Organic Social Media; Email Marketing; Display Retargeting; Programmatic Advertising; Website Testing; Video Hosting; and Content Creation. Leveraging all of it has made us an effective reality!
Anything, you would like to say to our readers, upcoming entrepreneurs or Startup Companies?
Build your right team! A high-level of success can be achieved only when you have the right team that understands your vision and align with it. Looking after your team makes them more productive and happier. It also helps as your trust brings their commitment to your business.
Markets, Technologies and Buyer Expectations are dynamic, however what remains constant are relationships. An entrepreneur’s ability to build those lasting relationships, be it directly or through market messages – what it puts, out holds the key to market success.