In Conversation with Insights Success, Neel Sinha, Founder of nFaktor gave some insightful answers highlighting the influences made by him and the company.
- Kindly brief us about the company.
nFaktor (www.nfaktor.com) was founded in the year 2015. Headquartered in Bengaluru, nFaktor is a business advisory and consulting firm that works with organizations to help them create and elevate their market impact- for their products, solutions, and services. nFaktor’s services include Growth marketing strategy, Branding and designing, Content marketing, and Social media campaign management.
MyLnk (www.mylnk.in) was founded in 2017. MyLnk is an innovative link shortener and URL management platform. It helps marketers to customize and personalize the web links. MyLnk is the perfect solution for the businesses to reach the right audience with branded and customized website links.
- Please tell us something about your Founder/CEO and his contribution towards the company and the industry.
I have been in the industry for 25+ years and it is a remarkable journey till now. I am the founder of nFaktor and MyLnk, and leading an amazing team of around 50 people. IIM alumni, and an engineer; I have always been fascinated with marketing. My robust sales background helped me to acquire clients, and define the growth road map for the company. My digital age business mantra is simple Happy Employees = Happy Clients.
- Kindly describe in detail about your company services and products.
nFaktor is a Business Advisory and Marketing Consultancy that focuses on evolving marketing channels that deliver smart content and perceptive brand messaging. In a world where transformation is the norm, ideas rapidly convert to start-ups, start-ups become fortune companies and corporates spawn off divisions as large profitable companies themselves. We work with such growth focused companies and corporate teams to help them enhance their market presence. We offer services that include Brand strategy, Go-to-Market planning, Digital Marketing, Sales Enablement, and Demand Generation.
MyLnk is URL management and link-shortening platform created by nFaktor. It helps marketers to customize and personalize the web links. Brands can measure and manage their campaigns with link analytics and insights.
- How is technology helping you or how technology has impacted the market in South-Asia?
It is not about how latest and advanced the technology is but the way technology is applied to make problems simpler that matters. We leverage technology quite a bit on our business.
Our product MyLnk is a demonstrator of our use of technology. The simplicity with which it helps solve a marketer’s need for analytics and measurement is phenomenal specially when it adds the flavor of personalization to marketing. We also use technology specially while integrating the mix of traditional, offline, social and digital platforms for marketing.
- Explain the industry challenges in terms of current trends, market players and cost?
Current trends: As far as current trends challenging the small business and startup industry is concerned, it’s always evolving with each passing day and one needs to be on their toes to be innovative. With the immense amount of power with the common man lies the capability to make or break a revolution.
Market players: Referring to market players, how can any business or industry be without competition? There’s fierce competition coupled with most having unrealistic growth expectations. Hiring suitable manpower is another challenge. Apart from that there are partnership decision-making issues. Financial management, cyber security, and winning trust of customers are critical yet delicate challenges facing the market players.
Cost and business finance: Cash flow management is one of the most essential parts of any business. Entrepreneurs need to ensure they have knowledge of their business finance. Also, they should surround themselves with a credible finance team who can help them to understand micro-level details. When faced with costing and financial troubles, startups are the first ones who suffer due to inadequate financial management and eventually succumb to the pressure. While the thumb rule that the industry follows is of minimizing costs we top it up with our efforts to go higher up in the value chain and generate greater revenue against the value we deliver to our customers.
- What are the key areas where startups of South-Asian countries have made the maximum impact?
South Asia is experiencing a positive economic momentum making it the fastest growing region in the world. Take an example of India, from Ola to Zomato and Dunzo to Flipkart. The momentum of all these startups is just unstoppable. The focus areas for start-ups have been on improving the overall health and primary education levels and upgrading infrastructure. The tech startup scene is getting hotter by the year in the South-Asian region.
- Kindly share us with your Vision and Mission of your organization.
Vision: To foster the growth of employees and make marketing accessible to every business.
Mission: To provide effective and integrated marketing solutions, and transform client brand into a revenue generating machine.
- How do you portray the future of your company in the coming years?
nFaktor foresees itself as an enabler in the emerging new market growth – both in external market reach programs, and internal sales and channel enablement programs. Having already expanded its business beyond shores this financial year, nFaktor will launch its first overseas presence that will cater to the South Asian and Australian markets.
- What would you advise the budding entrepreneurs in your field?
Build the right team. A high-level of success can be achieved only when you have a right team who understand your vision and are aligned to it. Looking after your team will make them 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 that it puts out is key to market success.