For Us Marketing Has Always Been About Encouraging The Youth: Gaurav Khatri and Amit Khatri, Founder, Noise
In an interview with BW Disrupt, Gaurav Khatri and Amit Khatri, Founders of Noise talk about fundings, challenges, expansion, marketing plans and more.
1.Brief us about your business model like how did the idea came to start and how does it work (step by step procedure)?
Noise was founded with the simple idea where we saw a nascent latent market gap of not being able to find a good solution in the connected lifestyle category for ourselves, and with us being first generation modern millennials we could feel that there is huge opportunity with no core Indian brand to stand strong and build a community of the lifestyle and fitness enthusiasts. This was what encouraged us to set up a brand that was passionately Indian while ensuring best in class features and quality.
2. Explain the product category Nosie has.
Noise is an aspirational Indian connected lifestyle brand, which the vision to change how India remains connected. We have more than dozen products in the Audio and Smartwearables category.
3.What are the unique key points of your company? How are you different from the existing competitors?
Noise is a brand that has established itself firmly on the roots of co-created data driven design and development, where it puts customer centricity at its core and chooses to engage with its customers in a unique designing process where the consumer helps the brand co-create products. As a business we truly focus on exceptional design of our products and more importantly another aspect that makes us truly unique is community engagement on our native app is unparalleled.
4.What is the funding status and monetization model?
We are a bootstrap e-commerce start-up so all of our business is through online channels including marketplaces like amazon, flipkart, myntra etc. and our own website.
5.What challenges are you facing in running your business?
Being the pioneers in the industry we faced a lot of challenges, but our journey has been one of great learnings along the way. The first challenge was to identify how to build a differentiating product in a cluttered market but we understood that reaching down to the grass root of the issue our customers was the only way and since then we have always taken up the route of co-creating our product it helps us not only understand the market demand but also to be more innovative. We wanted to build a brand that’s truly Indian to its core, something the young customers can relate to something we can relate to.
The other challenge we faced was providing the brand with right cultural shape. We always knew that we are design and innovation led company but before success we wanted to create value. Define a value system for our team and what the brand stands for. To overcome this, we made sure that we have a people first approach with focus on individual identity, because we firmly believe a company is as good as its people. It is because of this that we have been able to build a team of over 100 young, enthusiastic, creative and energetic people who work unremittingly to deliver the best to their customers while being a close-knit family.
6. How has been the people`s response so far?
The customers response has been exemplary, and they have absolutely loved the brand.
We have sold 3M+ units till date and just recently with the festive season we have seen great nos. where we sold more than 100k Smartwatches within a space of 100 hours.Besides being the most loved by our customers we have the largest and most active buoyant lifestyle community with our app. Noise Native App is one of a kind platforms for active lifestyle enthusiasts to engage, interact, track performance and stay connected while experiencing unparalleled content.
7.What are the traction details (like customers, website visits, orders, growth in business past few years & other achievements of the company)?
We have Grown year on Year with More that 17X in last 24 months and were also recognized as India’s No.1 wearable watch brand in 2020 by IDC Worldwide Wearable Device Tracker reinforcing our position as a category leader. As per a recent report published via reputed global industry analysis firm Counterpoint Research, Noise is the second most sold brand for truly wireless (TWS) earphones in 2019 in India. We have been listed as one of the top brands on Amazon and Flipkart for four years in a row. We also have a series of first to our name like being the first TWS brand in India, creating the first hybrid smartwatch and first low-latency earphones in the country are some of the examples of the same.
8.How do you look at expansion?
We have multiple plans of ramping up the portfolio and would be bringing more exciting upgrades to our current successful models.
We are looking making the brand much bigger as we plan to expand our portfolio and make it better with a lot of new launches lined up for what remains of 2020. For the year 2021, we are all set to achieve the 500-crore mark, and targeting a projection of 1000 crores by 2024.
9. What are your marketing plans?
We have been a digital first brand since our Target Audience is the modern digital natives. Our marketing strategy is to reach the customers where they are with effective campaigns across multiple channels. For us marketing has always been about encouraging the youth in such times of external noise to listen to the noise within them - and hence fronting the campaign is truly the champion player Rohit Sharma who is an epitome of this philosophy- has always stuck to his ability without bothering about what the naysayers had to say.
10. What has been the biggest learning’s so far?
Our biggest learning has been listening to our community, as a brand we ensure that we are always speaking to and getting insights from the customers so that we are where our customers are. As a brand we have always believed in the power of co-creating products with our community and it is because of this learning that every single product that we launch stems from a true customer insight.
11.What is the market size and opportunity?
The market size as per the recent IDC estimates is at least $6Billion by around 2025.
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