PowerAdSpy is a very effective tool developed to gauge the success of an ad on social media. Read more about what the thing is all about from the man himself. Lets hear what Sumit Ghosh has to say about it.
Tell us a bit about your background and how you got into this business?
Sumit Ghosh is a serial entrepreneur, who started his entrepreneurial career with an IT Services company Globussoft and scaled it to USD 2 million in annual revenues. His second venture Socioboard is into building automation products for digital marketing space. The Socioboard product suite, which includes PowerAdSpy, has MRR of $150,000 and comprises of desktop apps, three SAAS products, and mobile apps which have more than 1 million downloads and 300,000+ daily active users.
What was your inspiration behind this agency/ business etc?
While managing Facebook ad campaigns for our clients we felt a need for a tool which can provide insights into a successful ad campaign in all niches, from there PowerAdSpy began.
What do you think is the USP of your business?
We are the one and only competitive intelligence platform in social media space with Data Intelligence on 15 million ads from 15+ countries and top 4 social Platforms with Social Engagement oriented data.
How do you think your business will be a game changer in the industry?
Advertisers want to know which ads make ROI for its competition. They want to know what kind of ads ring the most bell with customers. They want to know what adverts are being run by their competitors. We get all these details they require in order to optimize their ad campaigns. In short, we are Google of social media ads, you can search and research every ad in our platform.
What is the most innovative marketing strategy that you have used to promote your brand?
We used a referral marketing strategy where we gave away free usage of our product to anyone recommending us more users by promoting our product on their social media network and getting us signups. It has worked wonders for us and still works great cause people are often friends with people of similar tastes and businesses and they often need to use similar business tools for their business.
How much of an importance do you give to digital marketing and social media for the promotion on your brand?
Social Media is the most powerful way for businesses of all sizes to reach prospects and customers. Even our tools are built for Social Media Advertisers.
Do you think social media influencers play an important role in today’s marketing?
Definitely, Social Media influencers play an important role in today’s marketing. Nowadays they play bigger roles than Brand Ambassadors. It’s universally accepted that words of mouth and peer recommendation are the most effective form of advertising. And these influencers have already established their authority and credibility around a certain topic.
What are your expansion and future plans?
1) PowerADSpy has the largest Ad Database of 2018. And its growing by 1 Million Ads Data every month. We are expanding to add more advertising platforms as and when our customers request them.
2) We are partnering with Top Advertisers and Ad Influencers, which helps our customers to effectively scale their Advertising campaigns, increasing their returns.”
We all know about the success, but what’s been your biggest failure story?
At the initial stage, we had to deal with very high expectations of our customers in terms of detailed analytic and reporting which resulted in a churn rate of 60%. With time we built what our customers requested and are doing much better in terms of churn rate now.
Where do you see yourself in 5 years from now?
Our vision is to be the Google for Ads. We want to have every digital ad ever shown by any advertiser to any consumer in our database. And we want to build a competitive intelligence layer on top of it and make it searchable for advertisers. We feel in future digital advertising will be totally performance driven and there will be a huge demand for products which will aid media buyers to be the best at their jobs. A competition intelligence product will take them a long way.
