Imagine having to pay for five pieces of clothing, chosen by the store, without being able to try them on. How would you know which one fits and which one will look good on you? Would you buy those randomly selected clothes and pray that it was worth your money? As puzzling as it may seem, organisations and brands actually do this all the time. After spending millions on market research and trying to understand consumers, they spend on ad space (yes, those ads you skip on YouTube or ignore on Facebook), hoping that maybe one of those ads catch a consumer’s eye and they make a sale! But, do they? Click rate on the internet for ads averages 0.3-3%, according to Raghav Anand, segment leader-digital media, EY India. Then, why spend so much money on digital marketing?
To optimize such spend, Saurabh Singh, Rahul Jain and Nagender Sangra have a solution — only pay a publisher for an ad when a user makes a transaction. This idea of performance marketing is becoming popular all over the world, but founded in 2016, Flickstree is the first of its kind in India. Founded as a movie recommendation platform that redirected users to streaming websites who paid Flickstree a small commission, the start-up realised there was a bigger opportunity in content creation and marketing, but did not want to spend millions in building a new platform of original high-end content. Thus, Flickstree found its present avatar.
Essentially, the platform brings three stakeholders together — the clients (or advertisers), publishing platforms (say a cashback website) and the users. So, if a consumer is