Noise Founder On Building A Bootstrapped Startup, IPO & Future Of Technology | FO 150 | Raj Shamani
Dec 20, 2023
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In this episode of Figuring Out, Raj Shamani talks to Gaurav Khatri, founder of Noise, about the journey of building a successful brand, overcoming common entrepreneurial mistakes, meeting Virat Kohli, influencer marketing, and beating competitors in the wearable industry. They also discuss the importance of quality over revenue, celebrity endorsements, factors to consider before buying a smartwatch, and the global impact of Indian technology products.
Starting a business requires understanding basic business parameters and creating a meaningful brand that solves specific consumer needs.
Noise's success in the smartwatch category is attributed to its focus on fitness, health, and lifestyle, offering advanced technology and personalized experiences.
Indian consumers are becoming more informed and willing to invest in upgraded and premium options that cater to their specific needs, driving the market towards enhanced technology and personalized offerings.
Deep dives
Understanding the Importance of Basic Parameters in Business
Starting a business without knowledge of basic business parameters can lead to multiple failures. It is crucial to understand the difference between various technologies and ensure that the solution provided is relevant and valuable. The focus should be on creating a meaningful brand that solves specific consumer needs.
The Growth Potential of Noise Smartwatches
Noise has experienced significant growth in the smartwatch category. Their focus on fitness, health, and lifestyle has resonated with consumers. By offering advanced technology, app ecosystems, and personalized experiences, Noise has captured the attention of Indian consumers. The brand's commitment to consumer centricity and constant innovation sets it apart from competitors.
The Rising Awareness and Preferences of Indian Consumers
Indian consumers are becoming increasingly aware and informed about brands and products. They are willing to invest in devices that solve their specific needs and provide value. The market is shifting from basic products to upgraded and premium options, driven by improved technology and personalized offerings. Indian consumers are ready to explore and embrace new technologies for enhanced lifestyles.
The Role of Personalization and Differentiation
Personalization is becoming a key factor in consumer decision-making. Brands like Noise are focusing on delivering unique and tailored experiences to their customers. By offering advanced features, software ecosystems, and high-quality hardware, Noise stands out from competitors. Their commitment to customer satisfaction and continuous improvement sets them apart in the market.
The Future of Technology and the Potential of Noise
The future of technology lies in constant upgrades and innovation. Noise aims to continue developing cutting-edge products that meet evolving consumer needs. While competition exists, Noise differentiates itself through consumer-centricity, R&D investments, and a strong focus on the Indian market. As Indian consumers become increasingly tech-savvy, Noise is well-positioned to cater to their demands and further expand its presence.
In today’s episode of Figuring Out, we have the founder of Noise, Gaurav Khatri in conversation with Raj Shamani. He is a brilliant entrepreneur who is passionate about futuristic and purpose driven technology. With his ideation, strategies and constant innovative ideas, Noise is today India’s no. 1 wearable brand. In this episode we talked about how Noise went from getting a 1000 mobile case orders to making a revenue of more than 2000 crores over the years. He shared some common mistakes most entrepreneurs make during the start of their entrepreneurship journey and how they save themselves from making those mistakes. He walked us through his journey of getting the first break-through with Noise and what really worked for him. He talked about his experience of meeting Virat Kohli the brand ambassador of Noise and why he is an extraordinary athlete. We also talked about influencer marketing and how they are selected by brands. We also discussed how Noise beat boAt and became the no.1 company in wearables in India. He shared his insights on some big things that are coming in the tech industry like rings who have access to the entire ecosystem in your house and many such innovations. At the end, we talked about predictive health, how and why consumption of smartwatches has increased in the last 3 years, what are some factors one should consider while buying smartwatches and many more topics like these. This episode will help you understand smartwatches and consumer psychology better. That’s it for today! Don’t forget to subscribe to our channel if you haven’t already, because we come up with new episodes every Wednesday and Saturday. Timestamps:
#Podcast #FiguringOut #RajShamani #GauravKhatri
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