Bangalore based, Xoxoday has made its impact and revolutionized the gifting industry not just in India but globally. Starting with a very humble beginning and now Xoxoday has some amazing numbers to back its success story.
- Successful 08 years in business with 180 employees and close to 1000 satisfied customers.
- Offices across 5 countries and 03 offices in India.
- 04 product lines to offer with $50 million turnover
Chapter I: Bangalore..where it all Started
“You must do things you think you cannot do”- Eleanor Roosevelt
Suddenly, Bangalore is transitioning from resting place to a restless place. Thanks to the famously infamous “transport” system of which needs due credit but also to some restless brains, who wanted to change and improve something definitely for good but looking for some food for thought.
Flipkart, the Indian unicorn in the e-commerce space motivated many to venture into e-commerce. Manoj Agarwal and Sumit Khandelwal (Close buddies) sees an opportunity in the space of gifting by using e-commerce. Thanks to Flipkart again, as Manoj Agarwal was playing an important role in the gifting business out there.
Gifting is space decided to make an impact. To do so, Manoj Agarwal and Sumit Khandelwal started a company called “Giftxoxo” to explore the gifting market with a unique offering. Abhishek Kumar and Kushal Agarwal joined and perfect the Entrepreneur team which is complimenting each other started working together to transform the gifting domain.
- A like-minded team wins the race.
- Always be ready for change.
Chapter II: Market entry with differentiated offerings – Xoxoday
Physical goods as a gift are mostly recycled and passed on to someone at some occasions or lying at someplace in the storeroom. Thus, the team came out with the concept of “Experience gifting”.
Conceptualized/handpicked products from trusted brands to offer such as learning DJ, Horse riding, Sky diving, paragliding, Mountaineering, helicopter ride, Scuba diving, etc. are a unique offering in the industry. As expected, it is creating a much-required buzz.
Now, Experience gifting is aimed to create a long-lasting memorable experience in the minds of the user. This “experience” is the differential factor that is creating “Top of mind recall” and “word of mouth” marketing for the company.
Website/App is offering the products and coupon/gift voucher is gaining popularity as best way to engage with customers because coupon redemption is giving customers the convenience in terms of using as well as sharing with their loved ones.
- Make “unique offerings” for positive disruption and gain your share of market.
- Early/First mover advantage.
Chapter III: New Avatar
Technology is always exciting and if you are at Silicon Valley of India, you are bound to fall in love with it.
SaaS or Software as a Service comes as a technological boon and blessing in disguise. Like minded partners were sharing the same motive of making the impact.
Xoxoday is using the SaaS platform and also coming up with an App called Frogo apart from the website to offer their solutions. The company is gradually transformed from “Experiential gifting” to “Curate experiential gifting” company.
The product portfolio is now ready with new offerings for:
- Employees: helps Company to build engaged and happier employee pool.
- Channel Partners: Create a healthy dealer and retail partner.
- Rewards & Recognition: take care of R&R programs.
Like minded acquisitions like blue bulb and partnerships like with Keka, Dockabl, Zoho peoples, Darwinbox etc. is making ways for smooth transition and enhancing offerings with happy customer experiences.
- Adapt to technological advancements with disruptive capabilities and also pave the way for the new markets.
- On-board Business Partners complementing each other.
Chapter IV: Right market with Right offering
Corporate is the new target segment with clearly defined demographics. The robust system is in place so that integration is seamless with users’ existing systems.
Now, Xoxoday is working with big fortune 500 firms and currently many big corporates are working with them for their employee’s R&R / employee benefits. Special and customized campaigns are becoming overnight success.
Being a system driven process, the HR department is now planning/scheduling employees R& R by using dashboards which is again receiving appreciation from the customers.
- Find your profitable and scalable market.
- Make your internal system flexible so that it is integrating with the user system efficiently.
- The convenience of the user should be built-in and part of the offerings.
- A customized solution is in demand.
Chapter V: Let’s hear from the Xoxoday Founder Manoj Agarwal:
About the Leader:
Manoj Agrawal is the co-founder of Xoxoday and an alumini of IIM- Kozhikode. He has previously worked with Yahoo and Flipkart.
With an opportunity to interact with Mr. Manoj Agarwal on different aspects, below are the highlights of the interview.
Question: what are the key ingredients for a successful start-up?
Answer: There is no fixed key ingredient for a successful start-up but proper planning is needed in:
Question: How critical is a business partner in journey and how to select a right business partner?
Answer: Choosing the right partner is always a game-changer so that emphasis is on building consensus with complimentary skills.
Question: Attitude Vs. Aptitude?
Answer: Attitude is the most important and default part of the hiring strategy. Attitude is clearly the key winner.
Question: What works well for you, a discounting or problem-solving approach?
Answer: Definitely, a problem solving approach works best in all cases. Discounting mostly works well in a B2C setup but the case is different for a B2B setup. Here, Value is having more importance to Pricing.
Point of view on the impact of COVID-19 and advice for start-ups
There are various talks around economic slowdown globally due to a series of events including Coronavirus. Slowdowns are part of the business life cycle and I feel these are naturally necessary interventions and detoxify the entire global business.
However, businesses should not worry about slowdowns, rather they should embrace it because is a great time to take a break, introspect, analyse and action.
Here are few things which companies, especially start-ups, can do in these times:
- Test the business model: If it works now, it will work in good times too.
- Innovate: Constraints help you innovate. Think innovation in your business model, processes, teams, marketing, supply, sales and anything else.
- Frugality: In everything you do, be frugal. This will train you forever.
- Be prudent & calm: Use lot of common sense.
- Build irreplaceable business and skills: Up-skill important to be irreplaceable.
Tough times don’t last long, tough teams do. Embrace slowdown with positivity and you will gain more than you loose.
Manoj Agarwal Interview: XoxoDay Founder
Check out the full length video of the interview by clicking on the link below: