NeoNiche – Building Brands, Delivering Growth
Due to the economic rise, businesses have more opportunities but less time. People don’t have much time to execute marketing strategies and events for the promotions of business which adds a break in the growth of the business. A word spread about business and its offerings is a basic need of the business in any sector to stand strong in the market.
Advertising and marketing is that component of the enterprise that you could never forget about. A sector is a large place and it’s very difficult to reach your target market faster and get powerful consequences.
Creating events regularly offers a brilliant opportunity to promote business all over. From a business prospect, event management is vital for promotion, branding, integrated marketing, etc. to maintain your business’ position better in the marketplace. The more people are coming for your event the more methods are coming to you to extend your business. event management gives you greater possibilities through publicity and builds a positive image of the brand.
NeoNiche Integrated Solutions Pvt. Ltd is one of the fastest-growing experiential marketing companies in Mumbai. Starting off as an event management company in 2011.
The company quickly started focusing on developing event planning and experiential marketing solutions for clients. We help brands create a seamless end-to-end experience for their audience and deliver immersive experiences that lead to unforgettable memories.
NeoNiche has more than 120 expert and solution-oriented people working harder to transform clients’ businesses. The master brain behind the long-standing success of the company is Mr. Prateek N. Kumar, Founder, and CEO of the company. His innovative vision helped many businesses with marketing as well as different promotion solutions to stand strong in the market. With the experience of selling everything from fireworks to soaps, to yellow pages, he quit his job and started NeoNiche Integrated Solutions Pvt. Ltd. The company is headquartered in Mumbai and runs its processes smoothly from branches at Bengaluru, Chennai, Gurugram, Hyderabad, New Delhi, and Noida.
The Inception
A smooth sea never makes a good sailor. Challenges are everywhere. A business cannot be successful without passing through any hurdles. Once we overcome the problems one by one, the business process gets stronger and with the experience, any crucial problems seem smaller.
NeoNiche started with very humble beginnings. Mr. Prateek decided to get out of his comfort zone, quit his corporate job, and start his venture. He says, “I remember we worked out from a basement we converted into our office space and borrowed my wife’s laptop for making my first pitch presentation. I did not have the backing of a family business, nor did I have the means to run the company, yet with limited resources, I managed to get our first client. Interestingly, I thought that with my network I would easily get business but none of the people I knew supported me. I had to reach out to clients on my own.”
The first big client they got was when they told them not to pay if they were not happy with their services. That is how they built trust in the industry and from there on there was no looking back.
The Triggering Point for Growth of NeoNiche
After the first 2-3 years, they reached a stagnancy and realized that they need to change the way they were operating if they needed to scale up the business. That is when NeoNiche introduced new processes and hired experts to be a part of the team. They needed to lay the right building blocks in every area of business to ensure that it would accelerate their business growth.
The Rising Graph of NeoNiche Since Inception
NeoNiche is one of the fastest-growing companies in the industry and our growth has been above industry standards right from Day 1.
- 2012 – 5 crore turnover
- 2013 – 10 crores
- 2014 – 20 crores
- First 3 years – 100% y.o.y growth.
- There on – 45% y.o.y growth
- 2019 – 70 crores
The Reason Behind NeoNiche’s Long-standing Success
Business is an art as well as a science. It’s a matter of practical experience, judgment, foresight, and luck. To be successful in business, one must master the basics of business success. Fortunately, all business skills can be learned. The key is to set goals and learn the skills you would require to achieve them.
At NeoNiche, they have continuously worked towards mastering the basics and making concern for our customers a top priority.
Quality Service Offerings
From simply being another event management agency in Mumbai to being an experiential marketing company, the journey required constant adaptability to understand how to improve. The competition amongst event companies in the whole of India was difficult. At the start, event management helped NeoNiche in the careful detailing of a consumer experience.
Events are a beautiful field that involves countless efforts but can create everlasting memories. From brand activations and product launches to corporate seminars and conferences, they look to bring something that will put a smile on people’s faces.
Along the journey, NeoNiche expanded its operations to other cities. Their event management capabilities soon expanded to Bangalore, New Delhi, Chennai, and Gurugram. They specialize in corporate event management with a focus on creating a seamless end-to-end experience to create unforgettable memories.
NeoNiche Taking Further Step With
The industry is highly competitive and is growing in leaps and bounds. Innovation and Technology are the key drivers for sustainable growth and development of the product and services.
Mr. Prateek says, “I believe that innovation is a necessity for evolving your product/services. We constantly produce new products, services, processes, and responses to be on top of the market offerings. We also bring in data intelligence on the table to study the global best practices and use them as a benchmark to upgrade our offerings.”
NeoNiche has started their sponsorship services plus they’re looking at other ideas for their customers’ experience to maximize ROI for their customers’ brand. Looking at tech to boost customer experience, they’re working on a whole new product line addressing the supply chain, product inventory experience, and campaign applications.
Words for Rising Entrepreneurs from The Founder & CEO
While addressing the rising entrepreneurs Mr. Prateek says, “A truly responsible entrepreneur is an individual who has assessed their ability to recognize an existing problem and found a viable solution to make the quality of life in general a little better for humanity. It was my dream to start NeoNiche and change the face of the industry but I couldn’t do everything on my own. It was equally important for me to get a top team in place who extended the values, vision, and mission I had for the company and accelerated the growth.”
About the Founder & CEO
Mr. Prateek N. Kumar started his career in Hotel Management and worked with the Taj Group. However, he decided to pursue his passion in the event industry and joined a start-up event company. From there on he worked in the same space with his last stint being with Showbizz for almost a decade. He always had a burning desire to start on his venture and hence gave birth to NeoNiche.
Mr. Prateek stated that various milestones are close to his heart and have been important in this journey.
The first thing was getting a great team onboard as his partners who shared his vision and have made NeoNiche be a profitable company from the start. The second was building a company culture they all are proud of. Keeping the focus on customer excellence has helped them to create some remarkable experiences for their clients for which the company is known.
Mr. Prateek says, “For me, the biggest achievement has been my personal growth. Over the years, due to my resilience and frugality, I have made the best of every situation that has come my way and been grateful for the opportunity to learn.”
The timeless Bhagavad Gita is one of the favorite books Mr. Prateek. The saying which resonates most with him is “Karm kar, phal ki itchha mat kar” which means that we should do our work without worrying about the results.
He is fond of History as a subject and that one person he has always admired is Mahatma Gandhi due to his simplicity and philosophy of non-violence.
Ratan Tata, Chairman of $100 Billion Tata Group is a big inspiration to him. In the world of business where loyalties are ever-shifting and competition dictates values, he stands out with his beliefs and is driven by principles that are rooted in responsibility than self-fulfillment. Besides, two-thirds of the Tata group is owned by philanthropic groups which are rare in today’s capitalistic world.
The Workforce
For Mr. Prateek taking care of a team is something that always has been a natural extension of who he is as a person. He feels proud to share that their company is known for looking out for each other. His aim has always been to create a workplace where people want to come and work and thrive as individuals. They are a young empowered company and have various initiatives where they encourage employee engagement. They have several instances where their employees have come back after leaving the organization as they have not been able to find this culture anywhere else.
Overwhelming Client Experience
NeoNiche has always believed in taking up projects where they would be pioneers and would take them outside of their comfort zone. Recently, they worked on executing a project for one of the largest cloud computing companies. Mumbai does not have a large convention Centre to accommodate 10,000 + people, so they converted a shed to host India’s largest silent conference. The entire event was segmented where attendees could walk around and hear sessions by switching the channel on their headset.
Executing an event of such a scale, required leveraging technology to the maximum. Right from the start of the event, the automated processes like registration where the process took only 15 seconds which is a 200% decrease in time as compared to a regular registration process. The entire event was seamlessly executed with the use of technology at various touchpoints.
Mr. Prateek says, “I don’t believe in being part of the rat race. I believe I am like a Trojan horse, that changes the playing field for me completely.”
“If Plan A doesn’t work, the alphabet has 25 more letters!”
For recent and latest updates regarding business news, industry trends, etc. Please subscribe Newsletter from “The Enterprise World” at “Subscribe“
