E-commerce space in India is being bullish with thousands of ‘potential’ startups emerging every month. Consequently, the challenges and competition to stay afloat with significant value proposition is the main area of concern that is making such startups to make use of online and offline ecosystem from marketing and promotion prospective. Offline event is one among all such activities which is emerging as the best platform to market, network and keep customers engaged but with certain inevitable inherited challenges.
Ayojak.com (a hindi abbreviation of ‘Organizers’) – a Pune based startup – has tried to address such challenges by leveraging upon the explosive growth of Internet and Mobile in India. As companies are excited to host as many events possible these days, the biggest challenge of this industry is to establish a bridge between potential participants and event registration mechanism, says Santosh Panda – CEO and Founder of Ayojak.
Ajoyak is a solution platform which allows any event organizers’ – company or individual – to get commitment from interested participants by selling tickets through 24/7 available app. It also serves non-commercial, unpaid or RSVP events by providing registration mechanism at no cost involved, says Santosh.
Online Ticketing industry in India is estimated worth Rs 750 Crs in 2012 and that could be the one reason which got the eye-balls of Ayojak management rolling. Though, Ayojak has been in the industry for some time now in its current form, the sizable growth and number of events went up only from last one year. Last year company managed to reach Rs 1.75 Crs (un-audited) in revenue books and in 2011 – 2012 (financial), it is targeting grow by 500% to surpass 8.0 Crs as revenue.
We have planned to tap the SMBs event space with 200 – 400 participants. This would leads to handle 1000+ events this year. However, the high online transaction charges are still the matter of concerns till a certain stage. Fortunately, organizers and participants now understand this and opening up to bear such transaction cost happily against the facilities they are enjoying, said Santosh.
Such enormous opportunity is making many more players to join the space of online event Management and Online Ticketing. Undoubtedly, this will relax the norms and cost but demands innovation and ‘out-of-the-box’ service and solution to cater other nitty-gritties to make events more accessible and ecstatic.
We had an exclusive discussion with Mr. Santosh Panda over many other challenging issues pertaining to startup, funding and the industry requirements. Here is the full length video interview in which he opens up towards future plans, competitors and risk assessments: