May 31, 2017
In this age of instant gratification, enterprises need to ramp up their operations and reach out to disparate geographies fast. However, ramping up rapidly is a costly and risk-laden affair. This was the germ of the idea for Gurgaon-based Avenue Growth, said to be India’s first customer acquisition solution that accelerates growth of brands by providing them with an on-demand on-ground sales force which can be activated instantly, at any location.
“The objective is to provide speedy market access to companies through a scalable sales-force solution. This model is extremely popular in developed economies such as the US, Germany, the UK,” says Rachit Mathur, co-founder and CEO of Avenue Growth. The other co-founder is Dilkash Malhotra. “It is a win-win for brands as well as growth specialists (sales professionals).”
Avenue Growth offers a zero risk model for brands—no financial burden for geographical expansion of sales operations; pan India presence—no city, town or village is out of reach. It offers a transactional revenue model where brands pay on successful closure of the sale. “The model is fully scalable as it can be expanded or curtailed as required,” he says.
On-demand sales force
Mathur had earlier founded Findyahan.com (a hyperlocal) which gave him valuable insights into manpower fulfilment across customer categories in disparate locations. Post the merger of Findyahan with Zimmber, he was seeking new pastuers. Coming from a sales background and seeing how companies around were facing difficulties in hiring and retaining sales professionals, Mathur wanted to solve this problem.
Mathur had known Malhotra for some time and had remained in touch. Malhotra has more than quarter of a century of experience of building businesses that are both traditional and internet based —Metro Cash & Carry, Pepperfry.com, Yebhi.com and Guthy Renker to name a few. When Mathur decided to start working on Avenue Growth, he had no doubts as to who his co-founder would be. Malhotra loved it; within a week he had resigned and was full time with Avenue Growth.
“Avenue Growth was founded to service digital and software-as-a-service brands, And here we are getting queries from not just software companies but also companies belonging to more traditional sectors like FMCG, consumer durables etc,” says Mathur. This came as a pleasant surprise, but also convinced the founders about the potential of this model. They have set for themselves some really big, audacious targets like on-boarding one million growth specialists by 2020 and expanding to other South Asian countries.
Success so far
“Four months into operations we have 12 brands. Some of the clients are Shopify (one the world’s leading DIY platforms), Wydr, The Man Company, Volody among others,” he says. “We have a network of 2500-plus freelance sales professionals spread over 205 Indian cities. The company is generating healthy revenues and growing aggressively month-on-month.”
Avenue Growth is bootstrapped as of now and is generating healthy revenues to sustain operations. “We plan to reach out to 1000-plus companies across FMCG, consumer durables, pharmaceuticals, software solutions providers and more, and eventually having a pan-Asia footprint,” says Mathur.