“If You Keep Doing The Same Thing, Then You Will Keep Getting The Same Results” – Founder Of Couponhaat
From a humble background to the founder of Couponhaat – Vipin Kumar Yadav. He is a BCA in computer science with masters in the same field. He started his career as a software engineer at AVL and soon went up the ranks. Soon, he realised the scope of e-commerce in India and launched his own startup Couponhaat.in. The startup with an aim to provide the best coupons and deals for online shoppers in India. Within a span of time, it has managed to make a name for itself and has garnered immense popularity.
Startups Talk had the opportunity to talk to Vipin Kumar Yadav on his inspiring entrepreneurial journey so far. Vipin shares his experience and a brief idea about the ‘deals and discounts’ business. Here are excerpts from the interview:
- Startups Talk: How and when did the entrepreneurship bug bite you?
From my childhood days, I was keen to become an entrepreneur. After working for an MNC for few years, I decided to step into the world of entrepreneurship. I have been very passionate about exploring new things, particularly which can value add to people in their day to day life. One day, while I was buying few products online for myself, I somehow realised that there is a business scope in the online coupons and deals. From that very moment, I have been devoting my time completely to build up the organisation. I’m proud of my team for their contribution in building up the organisation.
- Startups Talk: Could you provide us with a brief overview of your product/service?
Couponhaat is firsthand information source for online buyers about ongoing offers of discounts and coupons across different e-commerce sites. These days, e-commerce players are facing cut-throat competition within the marketplace as they are coming out with great discounts and coupons almost every day. It is really impossible to visit each and every site by customers to look at those live discounts and offers. We are here to make this hassle task getting done just by a finger touch on smart screens.
We attract our huge customer base and get engaged with buyers, and they select the deal that suits them best. After pushing the “Shop Now” button, customers redeem their coupon of specific code which helps them save their money. Couponing websites essentially play a big role to develop a business in today’s aggressive markets. We are focusing right on our target consumers in order to provide them with a handful of best deals they have been looking for!
- Startups Talk: Which categories of products and website deals are the most sought after on your portal?
On our portal, top most categories are Mobiles & Tablets in Electronics and Recharge. After these, food and travel categories are also where people search discounts and coupons. Shopclues, Snapdeal and Amazon are the top websites most converting on our portal.
- Startups Talk: In a market crowded with e-commerce websites, how does Couponhaat plan to get the customer’s attention?
Yes, this is a crowded market and there are established market players, and we are thankful that they played a key role in promoting this whole business in years before we entered the arena. But as said, the market is huge and we are focusing on servicing our users’ needs and not worry about competition.
We’d like to think more in terms of cooperation than competition. So, if anyone wants to partner with us to build a better future, we are here to talk.
Our USP is user experience. If you don’t have the best offers, hand-picked deals, curated by the team of experts who really know what to put in front of your visitor’s eyeballs. Your visitors will not recommend your site, your app, your idea to anyone else.
- Startups Talk: Can you give us some numbers on Couponhaat’s registered users? Among them, which is the most active demographic?
We have around half million registered users on Couponhaat. Out of which 70% are males and 30% are females. 70% users are below 34 years of Age. If we talk about Geo then Delhi NCR is on the top and then Bangalore, Mumbai, Pune and Hyderabad.
- Startups Talk: How does Couponhaat generate revenues?
Our revenue model is affiliate and ad sales marketing. When a user clicks on shop now button, we redirected him to our partner’s website. Once the purchase is done by the customer, we get our commission from the e-commerce site. We work on CPS, CPV, CPC, CPM models too.
- Startups Talk: What is your strategy to take on the competition?
Competition is always good in any field. I see competition as an innovation. Competition keeps you alert, helps to measure your strengths & weaknesses. So, our strategy is very simple and straightforward. We believe in providing the value to the customers. Every day, our expert team along with the help of technology tries to provide the best available deals and coupons to our users.
- Startups Talk: Does Couponhaat have any role in the buyer-seller interaction/transaction? Do you take any measure to ensure validity and safety of transactions?
No, Couponhaat does not play any role in the transaction. But yes, if there is any problem between buyer and seller then we try to resolve them with our partners. They always react on this but at the end it is their decision.
- Startups Talk: Could you tell us about the vision for the future and if any expansion plan?
We are targeting to expand our reach to people who are not using deals and coupons websites. The market for coupons and deals in the country is all set to grow significantly over the next few years. We are making our technological capabilities superior and provide best solutions to our customers.
We are planning to go global and start expansion in Middle East region.
- Startups Talk: Could you give us a little idea about the online ‘deals and discounts’ segment in India and in the world?
The market for ‘coupons and deals’ are really catching up fast in India. As compared to the global market, Indian coupons and deals market is at a very nascent stage. There are many reasons for this gap. Number of online buyers in India is relatively smaller than the global standards. However, due to increase in the number of internet users and changing habits of shopping, Indian market is witness to see an uptrend in the demand for ‘coupons and deals’.
From a valuation of USD 3.8 billion in 2009 to USD 12.6 billion in 2013, the Indian e-commerce industry has seen an unprecedented boom. According to different reports, 95% buyers search for coupons and deals online. Out of this, almost 70% buyers view coupons and deals available at portals like us. In India, the coupons & deals business is almost 15 per cent of the total e-commerce audience in India and this is growing at the rate of almost 60 per cent. Over the next few years, the Indian coupons and deals market is going to become one of the largest markets in the world. As a leading player in this segment, Couponhaat is focusing on delivering best of the offers and deals to the online buyers.
- Startups Talk: What was the most challenging part of your journey till now?
Building the great team was most challenging part of my journey. This is always a very big problem to find the person who have same passion, dedication, vision, honesty, loyalty which you have. It does not matter that you are finding an employee or business partner.
- Startups Talk: What is that one “quote” that inspires you the most?
“If you keep doing the same thing, then you will keep getting the same results.”
Thank you Vipin, for taking out time from your busy schedule and giving our readers a valuable suggestion and sharing of your knowledge. We (Startups Talk) wish you a good luck to and Couponhaat for the future.