Entrepreneurs possess a variety of qualities, including enthusiasm, tenacity, drive, and persistence. But there is one trait that all entrepreneurs share: the capacity to think creatively, to take risks where others fear to go and to seize the chance presented by difficulty. Prabal Raverkar and Sumit Kaushal, directors of the auto-rickshaw video advertisement business Rickshawpedia, started their new venture with a small team in Indore.
It is a well-known truth among those who are familiar with advertising that one of the hardest media to assess is the outdoor medium. There is no way to determine the effectiveness of the billboard, the number of people who saw it, or, more significantly, the proportion of those impressions that resulted in sales for a business. Since 1967, Amul and its moppet have chosen the most important topic in our country and presented their point of view through hoardings placed at key locations all over the country. Perhaps we should inquire about the effect outdoor advertising has had on sales of their packs of butter.
Despite being dominant in many aspects, the advertising sector in India has been unable to demonstrate a return on investment for the money spent on the medium. There would have likely been several discussions behind closed doors about reducing outdoor advertising budgets in favor of TV or print, which may provide a higher return on investment.
Rickshawpedia intends to change how outdoor advertising is judged in India and has done so successfully. It’s an effective way to promote brands and services in the local region in a very cost-effective manner. The Rickshawpedia team can use its proprietary algorithm and tools to measure the likely impact that the video advertisement inside the auto-rickshaw has made on the passengers who have to sit in it, or the most important benefit is the auto-rickshaw can move from location to location in a given city, the traffic around it, the angle at which the device is placed.
The Rickshawpedia team installed the device in 1000+ auto-rickshaws all over Indore. The startup’s proprietary software processes the applications for the client and the driver to maintain the whole process. While using this technique for moving traffic, at specific intersections there are some major difficulties the team has faced. Rickshawpedia assesses auto-rickshaw drivers first.
What are Some Major Challenges Faced by Rickshawpedia Team?
According to Prabal, every driver is not so educated that they understand the concept, therefore, they have to differentiate many auto drivers as per the specifications. The device is completely controlled by the Rickshawpedia team and drivers have no access to play anything on that device. Also, the device is locked and the tracker has been placed in the system so that no one can steal or take it from the auto-rickshaw.
This information is then processed to determine the demographics of the local client base and the sorts of companies that may leverage that specific area to market their goods. Rickshawpedia gives clients information on things like views, playtime, the total amount of money spent, and more. We now have a way to advertise and convey our message to the passengers inside the auto-rickshaw, and this data cannot be refuted,” boasts Sumit.
What’s the Concept About?
Rickshawpedia is an advertising agency in Indore that only works for auto rickshaw video ads and helps businesses to boost their business in the local region of Indore. Brands, services agencies, and other interested persons can talk with the team and provide the required information to them.
Rickshawpedia installed a 10-inch device inside the auto-rickshaw to showcase their video ads in the auto-rickshaw. Rickshawpedia is an outdoor advertising company that is cost-effective other than any other media company. Rickshawpedia now has the vision to install the device in 5000 auto rickshaws. Because they want to be able to truly make a difference in the outdoor advertising sector, Rickshawpedia, according to Prabal and Sumit, would always like to keep a distance from any agency or media firm. “Our USP has always been that we are focused on becoming a cost-effective advertising agency in Indore. We are not in direct competition with any agency; rather, we are merely discussing the impact we may have on the market, says Sumit.
The current story Rickshawpedia, which was founded in April 2023, currently has 50 team members, and Prabal and Sumit are excitedly expecting the arrival of more. They collaborate closely with a sizable network of influencers and channel partners spread across the city. They employ a different tool to help the auto rickshaw owners by providing them with an extra income source. Local persons and businessmen also make extensive use of outdoor advertising, and Rickshawpedia enables them to evaluate the success of their auto-rickshaw video ads efforts. The threat of traditional media. Visit rickshawpedia.com for more details.
