ClanConnect bags Frost & Sullivan’s Competitive Strategy Leadership Award 2023
ClanConnect has been recognised as one of the best Indian startups to receive a globally coveted award. With an impressive 500% increase in user base and revolutionary approaches to influencer marketing, ClanConnect is revolutionising the industry.
ClanConnect, a prominent influencer marketing start-up in India, has been honoured with Frost & Sullivan's Competitive Strategy Leadership Award in the global creator economy market. This achievement signifies ClanConnect's entrance into an esteemed group of past Indian recipients, including Tata Communications (2020), Wipro (2019), Mahindra & Mahindra (2019), and Jindal Steel (2018).
The selection process for the award involved a rigorous analytical evaluation of multiple nominees by Frost & Sullivan. This evaluation encompassed various criteria, such as strategy effectiveness, strategy execution, brand equity, price/performance value, and customer purchase experience, among others. Unlike many other global awards, Frost & Sullivan's process does not involve a call-for-nominations, making the recognition purely based on merit.
This esteemed recognition comes aftermade a strategic pivot in July 2022 by eliminating the platform fee for brands, agencies, and micro-entrepreneurs to democratize influencer marketing. Within just 9 months of the pivot, ClanConnect experienced an impressive 500% increase in its user base, reaching 1.2 million. The removal of financial entry barriers resulted in a 300% surge in brand/agency/talent partners and a 300% increase in influencer signups compared to the initial 21 months of operation.
Sagar Pushp, CEO of ClanConnect, expressed his excitement, stating that being the first Indian start-up to receive this honor from Frost & Sullivan showcases the global relevance of ClanConnect's value proposition and product roadmap. “The win is proof positive that ClanConnect’s value proposition and product roadmap hold global relevance. This, combined with our encouraging performance in the Indian market, gives us the impetus to expand our footprint within the country and across key overseas markets in the near future. The creator economy is poised for explosive growth, and we look forward to further creating maximum opportunities in this space,” he said.
Riana Barnard, Best Practices Research Analyst, Frost & Sullivan, commended ClanConnect for its data-driven approach, which delivers unparalleled transparency and empowers any brand, startup, or small or medium-sized enterprise (SME) to execute successful influencer marketing campaigns. “Frost & Sullivan recognizes that ClanConnect’s scalable and transformative solutions, advanced by its innovative business model, fundamentally disrupt the marketing agency model,” Barnard added.
Akshay Menon, Senior Industry Analyst at Frost & Sullivan, highlighted ClanConnect's introduction of a cost-per-view model, aligning influencer marketing with other digital advertising features and ensuring a brand's return on investment. “This outcome-based engagement model safeguards a brand’s return on investment and enables engagement with micro and nano creators by setting specific requirements and fixed deliverables. Furthermore, its more recent conversion-driven affiliate model combines the existing pay-per-campaign model with its cost-per-view and affiliate approach to help brands increase awareness, reach, and revenue through refined and more impactful influencer marketing efforts,” Menon said.
Frost & Sullivan, through its research, lauds ClanConnect’s innovation and growth opportunities; competitive strategy; efficient AI-powered business model; and strategic decision to remove the platform fee for brands, agencies, and micro-entrepreneurs. Frost & Sullivan’s report concluded that ClanConnect is well positioned to drive the creator economy space into its next growth phase, capturing market share and sustaining its leadership in the coming years.