India’s ClanConnect recognised by Frost & Sullivan’s Competitive Strategy Leadership Award in global creator economy market
New Delhi, 17th May 2023: ClanConnect, India’s leading influencer marketing start-up, has received Frost & Sullivan’s Competitive Strategy Leadership Award in the global creator economy market. This development marks ClanConnect’s foray onto the list of previous recipients from India, such as Tata Communications (2020), Wipro (2019), Mahindra & Mahindra (2019), and Jindal Steel (2018).
Frost & Sullivan applies a rigorous analytical process to evaluate multiple nominees for each award category before determining the final recipient. The process involves a detailed evaluation of best practices criteria and remains one of the few global awards that does not follow a call-for-nominations process, making it a purely meritorious achievement for the winners. As per the award criteria, ClanConnect has delivered excellent performance across multiple parameters, such as strategy effectiveness, strategy execution, brand equity, price/performance value, and customer purchase experience, among others.
The distinguished accolade comes on the heels of a strategic pivot in July 2022, wherein ClanConnect removed the platform fee for brands, agencies, and micro-entrepreneurs to democratize influencer marketing. Compared to the first 21 months since its inception, ClanConnect increased its user base by almost 500% in only 9 months of the pivot, reaching 12,00,000 By removing the financial entry barrier for users, the company demonstrated a 300% jump in brand/agency/talent partners, with a 300% increase in influencer signups.
Sagar Pushp, CEO, ClanConnect, said, “It’s thrilling to know that we are the first Indian start-up to receive this honour from Frost & Sullivan. 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.”
Riana Barnard, Best Practices Research Analyst, Frost & Sullivan, mentioned, “The company delivers unparalleled transparency through its data-driven approach, empowering any brand, startup, or small or medium-sized enterprise (SME) to run a successful influencer marketing campaign. Frost & Sullivan recognizes that ClanConnect’s scalable and transformative solutions, advanced by its innovative business model, fundamentally disrupt the marketing agency model.”
Akshay Menon, Senior Industry Analyst, Frost & Sullivan, wrote, “In addition to its existing campaign model (where the team identifies the scope of work and executes it as a one-time project cost), the company introduced a cost-per-view model to bring influencer marketing in line with other digital advertising features. 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.”
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.