We talked to Jitesh Bisht of Limpid on how they develop a brand-safe, premium environment for advertisers, publishers and influencers and here is what he said about it..
First of all, how are you and your family doing in these COVID-19 times?
Jitesh Bisht: I’m doing well. Thank you for asking. Both my family at home and the Limpid family have been keeping strong in these tough times.
COVID brought numerous challenges. We took them with a positive outlook and worked forward to find immediate solutions to sustain and grow.
Tell us about you, your career, how you founded Limpid.
Jitesh Bisht: I have been in the media and ad-tech industry for all my career. I started as a partnership manager handling monetization for app publishers from the EMEA region. Later, I joined an app developer to launch their biz in the Indian market. Early in my career, I got the opportunity to handle global biz and work for companies originating from India, China, and Spain. This exposure to the app economy and global markets allowed me to think big and start my media agency in 2017. We got acquired by Limpid.tv, a Singapore-based media and technology company, in 2019. I’m the group CEO managing the biz teams in Singapore, Israel, India, and Spain.
How does Limpid innovate?
Jitesh Bisht: We believe in continuous improvement and disruption. Our investments have been parallel in new and traditional biz. We started as a boutique agency for app and web publishers. But now we have 3 O&O CTV ROKU channels and an active community of over 70k influencers on IG, Facebook, and Youtube. We help these creators to monetize their social presence with our unique programmatic platform.
How the coronavirus pandemic affects your business, and how are you coping?
Jitesh Bisht: We were hit by the lockdown like all other businesses. The ad spends from our top categories like Travel and Automobile were all-time low. Our traditional agency business was struggling, but new investments in the CTV turned up highly profitable. Our new launches on ROKU picked up the pace, and we were able to monetize the increased screen time to the best of our capabilities. Our innovative approach to new products helped us to survive the coronavirus wave.
Did you have to make difficult choices, and what are the lessons learned?
Jitesh Bisht: Yes, we had to act fast to minimize the losses at the time of the pandemic. We restructured our teams to be more productive. The budgets for some of the departments were cut down significantly. All the efforts were to retain the whole team at the time of chaos. Today we stand strong with the full team strength. We learned to work remotely and optimize expenses. Our team takes care of the company as their family. We are blessed to have such great employees in our company.
What specific tools, software, and management skills are you using to navigate this crisis?
Jitesh Bisht: Our exposure to meetings over a video call and work coordination on project management tools has multiplied in the last year. We are sending a lot more voice messages to our peers. Our teams have come closer in the WFH era. We have been doing fun Fridays with tons of photo shares on our internal slack channel. Our teams take all opportunities to share their day with other members.
Who are your competitors? And how do you plan to stay in the game?
Jitesh Bisht: We compete with media agencies that work directly with app and web publishers.
Now, we have a CTV biz. Hence we are also competing with budding app publishers on the ROKU platform. Competition has always been favorable to us. We learn from our peers’ mistakes, and we innovate on the success of the top companies in our industry. The growth for us comes from the foreign markets. We will continue to invest in new product lines and developing a stronger base in the US and west of Europe.
Your final thoughts?
Jitesh Bisht: COVID has been tough. It is important to rethink some of the strategies to grow and sustain. These challenging times have also opened up new opportunities. An innovative approach to the problem can turn the crises into benefits.
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