The startup story of ReleaseMyAd

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ReleaseMyAd is a new advertising platform, a startup that gained popularity in a short term – solution for every advertising need. Read this article to learn about various factors of the startup and its success story.

Introduction

RELEASEMYAD startup story
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ReleaseMyAd is an online advertising platform. It assists businesses and individuals to advertise on any mass media. It caters to all your advertising needs, whether you want to advertise in newspapers, radio, in-Cinema, or magazines, it will hrlp you out in every medium. It is soon going to extend its advertising services through television too. Sharad Lunia and Anup Ostwal are the business development head of releaseMyAd.

After two and a half years of completing graduation from Wharton School of Business, Pennsylvania, Sharad Lunia returned to Kolkata and set up his startup releaseMyAd on 14 February, 2009.

Lunia started to create a tech-based online ad platform to serve advertisers at scale for offline media. Its motive was to make the advertising process simple and hassle free for individuals.

It was started as an online platform that simplified booking classified advertisements in newspapers. Newspapers enjoyed mainstream reach across both English & vernacular readers.

It offers all mainstream media options to small and medium-sized businesses and nurturing startups within their budgets. So that they can easily advertise across newspapers, radio and cinema halls which lets them reach to their target customers effectively.

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Craftsvilla, at an initial stage had used the advertising services of releaseMyAd to carry out a media buying worth INR 1,00,000,  and recently, the entire Miss Ethnic Campaign featuring Ms. Kareena Kapoor across TV, Print & Cinema was carried out by releaseMyAd. It offers its services to other funded startups like Peppertap, Swiggy, Housejoy, ZipGo, Doormint, TaskBob and LocalOye.



The purpose of launching this start up on Valentine’s Day was to enable people to wish their valentine by means of a Newspaper Ad and to encourage people for this it carried out a 14-day promotion pn Facebook. At the end of 14 days, it had twelve customers.

Challenges faced by releaseMyAd

  1. Convincing the media owners

It is a quite difficult job to aggregate media options in a single platform and then convincing media owners to realize the effectiveness of an online portal as a viable acquisition medium.

  1. Convincing advertisers to go online

It was a difficult task to convince the advertisers to use an online platform instead of personally meeting a media representative and discussing an advertisement campaign.

  1. Enable interaction via an online platform




It is not an easy task to get the things perfectly right. It had to build a right interface to simplify & replace the traditional method of media planning & buying. They had to create a tech-based system in order to enable businesses or individuals to self-serve themselves for most of their requirements. To deal with the issue of interaction, the system is created in a manner that it also enables personal interaction where the client might requires.

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Journey of the growth of the start up

It is the first initiative of its kind in the industry. As the customers of this website are online, they repeatedly iterated on user interface after gathering beta feedback. It offers one stop media buying solutions for every budget size.

Having an annual turnover of INR 32 crore for the last year, it has serviced around 2,19,000 advertisers till the date. This year they might cross the INR 80 crore mark.

Though local ad/media vendors across the country are its major competitors, there is a huge difference in its processes and those of competitors. Unlike local agencies, its business dealings are not relationship driven. Rather they offer greater transparency and clarity in pricing. They function independently i.e. free from personal relations. Moreover, they aggregate all media options with very relevant data which is quite unusual.

In a net driven world, releaseMyAd offers a marketplace that ia affordable and easy to use for customers. With their historic price monitoring, and multiple seller enquiry system, they provide greater cost benefits than any other agency. This startup has made the advertising easy, effective and affordable in every manner.

The market in India vs the market of rest of the world

India is developing very dynamically. The India’s market is totally different from rest of the world and is hardly comparable to the west. This is because the literacy rate is constantly on the rise and thus newspaper readership might be on the decline elsewhere, but in India, it has an extremely strong presence which will only increase in the coming years.

By the end of 2018, even though the internet advertising might have a higher and apparently more impressive annual growth at the rate of 28 percent, its ad revenues speculated to come up to INR 100 billion which is merely the 1/3 of that in print media which is assumed to reach an INR 314 billion mark in the next few years. This signifies that digital media is still only a smaller portion of the whole advertising business.

Advertising through radio and cinema segments also show a considerable growth rate in the upcoming years at 17% and 12% respectively.

Future plans

  1. It is visioning to match the right advertiser with the right media option by building back-end Customer Relationship Management systems categorizing advertisers based on their marketing objectives, target locations, budget, requirements and advertising frequency.
  2. Efficient sale of last minute Ad inventory : It intends to improve its last minute inventory sales transactions, thereby, enabling better pricing for its customers.
  3. Iterative learning knowledge base: It seeks to develop a perfect iterative learning knowledge base to recommend which media works for which objective and budget- standardized into packages.
  4. Dynamic Ad Pricing Data: releaseMyAd intends to maintain a dynamic internal advertisement pricing providing knowledge to help better negotiate lower prices from media owners for all our customers besides further aggregating Small and Medium-based ad buying for which we intend to foster the RMA partner program.

The revenue model of releaseMyAd

As a marketplace, it earns commission on the basis of the volume of business transacted via its platform by its media partners. This commission ranges between 10-20 percent.

This startup solves three key issues with an ease that other ad companies face:

  1. Media Discovery:

The success of any mass media campaign greatly depends on selecting the correct media option. ReleaseMyAd helps its clients discover the right media option for their objective by offering over 212 Newspapers, 27 Radio Stations, 19 Multiplex Chains, and all the leading magazines.

  1. Lowest Pricing:

As the availability & pricing for advertisements fluctuates widely with demand, it offers the services at comparatively lower prices for every potential advertiser. To ensure the lowest prices, it floats an enquiry across multiple publishers & advertising representatives or agencies throughout India to obtain the pricing information.

  1. Service Delivery :

Generally, traditional media agencies follow manual processes. However, with the new tech-based platform, system, and processes, it is enabled to service huge volumes of ad placements. Therefore, it ensures a glitch-free smooth run of advertisements placed across all the ticket sizes.

Conclusion

The fact that this startup is completely technology driven & is innovating in the offline advertising world, sets it apart from the other ad/media agencies.